Re:One Tether Trader Didn't Cause the Bitcoin Bubble
by Acrobatic_Road on Wednesday November 06, 2019 @12:58AM
(#21460067)
>Smart contracts also do not need censorship resistance. People get along fine with the current legal system at least for civil lawsuits.
Really? How can a financially censored person access financial services? If you aren't allowed a bank account then you are immediately cut off from services which smart contracts could substitute for.
A coinbase account can be closed but an exchange built out of smart contracts like UniSwap can't censor its users.
You may not be able to access credit without a bank but you can get a loan on a smart contract money market like compound. You can even use a smart contract to lend money to yourself (Maker).
You may not have a bank account but you can use a smart contract wallet to give yourself bank-like protections such as withdrawal limits.
Really? How can a financially censored person access financial services? If you aren't allowed a bank account then you are immediately cut off from services which smart contracts could substitute for.
A coinbase account can be closed but an exchange built out of smart contracts like UniSwap can't censor its users.
You may not be able to access credit without a bank but you can get a loan on a smart contract money market like compound. You can even use a smart contract to lend money to yourself (Maker).
You may not have a bank account but you can use a smart contract wallet to give yourself bank-like protections such as withdrawal limits.
And so on.