... we need crypto Did someone say otherwise? Crypto is an attempt to fulfill a broad yearning for financial freedom. The problem is, as it currently exists --- it just doesn't deliver. Crypto doesn't displace trust, it misplaces it. Instead of trusting government and regulated banks, you end up trusting the unregulated gatekeepers to the block chain --- the exchanges. Who is making sure these gatekeepers are not sel…
>you end up trusting the unregulated gatekeepers to the block chain --- the exchanges. how exactly are exchanges gatekeepers? blockchains would function completely fine without exchanges. In fact, on chain exchanges like uniswap and 0x require zero trust whatsoever.
I must be misunderstanding, but don't blockchains track references, through sequences of indirection (i.e., encrypted on the chain), to what is ultimately fiat currency?