On: Web3 'contains the seeds of a dystopian nightmare'

[captn3m0]

Interesting to note that "upload your code to your bank" is exactly how some algorithmic trading firms work already.

[throwaway82652 → captn3m0]

Yes, but the problem is those are actually well established and useful so none of these VCs caught up in this crypto stuff want to talk about them. It's not even a new idea nor does it require blockchains. It's made strictly worse by blockchains, the only thing that does is add another unnecessary layer of middlemen.

[Daviey → captn3m0]

And the inverse, many clients need to install proprietary closed source hardware (within their network) to interact with the institutions.