
Bitcoin as part of over the counter derivatives reform measures - naveen99
https://www.newyorkfed.org/financial-services-and-infrastructure/financial-market-infrastructure-and-reform/over-the-counter-derivatives
======
naveen99
Seems like the primary problem precipitating the 2008 financial crisis was
counterparty risk in the otc derivatives market. Bitcoin is a sort of an over
the counter forex market that allows better risk management between
counterparties.

People think wealth is owned by banks. But wealth is owned by people. Banks
are just one part of the wealth management infrastructure. OTC derivatives are
another part of it, and are not going away. They just need better
decentralized tools for risk management like bitcoin.

