Earlier quoted context omitted.
> we need the financial industry Do we, though? I don't know whether the answer is distributed blockchains, or the Department of the Treasury creating an API for USD, or both; but the current banking system seems to me like the legacy code of feudal landed aristocrats. (I will never stop being disappointed that we didn't let the financial system crash in 2009.)
> Do we, though? Why, yes? Isn't it blatantly obvious? What exactly leads you to believe we don't? > I don't know whether the answer is distributed blockchains, or the Department of the Treasury creating an API for USD, or both; I'm dumbfounded how someone even comes close to believe that any one of these ideas comes even close to provide the service that financial institutions provide. Either you have a very specifi…
Your posts are interesting, reasonable and founded in facts. That said, I think there's an underlying emotion in other posts: fed up with the discrepancy between the everyday slough to improve your life, but then read about the money games that are played between commercial banks, the central banks and government.