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0 pointsmalermeister4y ago0 comments

That sounds exactly like

> "wE aWe vEWy close to bweakthrough"

as described by parent.

0 comments

bko4y ago

No, it's just some legal entity that is bound by law to hold those securities in a trust that is legally owned by the contract. This is how stable coins work, although tether holds assets not necessarily the underlying currency. But other stable coins hold 1:1 reserves based on the currency they're meant to track.

Its centralized sure, the company could f up or commit fraud but there would likely be best standards and multiple options.

anaganisk4y ago

So basically its just the same old system with a new database?

bko4y ago

Did you read my original comment?

> When someone figures out how to custody financial assets on the blockchain (e.g. stocks, bonds, etc), then you can create exchanges that aren't regulated and are open 24-7.

The databases are outside of the purview of the state, so they're able to get around restrictions. Why can't you gamble online, depending on the state you're in? Why can't I send money to people in Iran? Why can't I invest in a start up if I'm not accredited?

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bko4y ago

Its centralized sure, the company could f up or commit fraud but there would likely be best standards and multiple options.

anaganisk4y ago

So basically its just the same old system with a new database?

bko4y ago

Did you read my original comment?

> When someone figures out how to custody financial assets on the blockchain (e.g. stocks, bonds, etc), then you can create exchanges that aren't regulated and are open 24-7.

1 more reply

j / k navigate · click thread line to collapse