Quote:
Originally Posted by MysticLlama
Main difference is IF (big IF), all of the steps in this blockchain transaction are accurate, it's doesn't require trust relationships. The money is real, title is real, owner has rights to transfer, insurer pre setup and if any of those don't validate, the transaction doesn't happen. No doing a money transfer and then the person not signing paperwork for example.
On mortgages we do lots of those steps, with lots of places to prove each of those steps and multiple levels of insurance in case it goes sideways and they missed something. High friction.
|
sure thing , but the entire thing only works if somebody is willing to crunch all them numbers and nobody does that for free.
So how would you run that show on the backend for their trouble once the mining becomes illegal everywhere because of the energy/CO2 polution?
Let the banks do it?? they will still want their share, where's the incentive if it's all up for grabs to anybody and they cannot control the price point? Nobody works for free
Let the governements do it?? hah to the m fuchs ing ha on the trust part.