S&P Dow Jones Indices to launch cryptocurrency indexes in 2021

Re:S&P Dow Jones Indices to launch cryptocurrency indexes in... by diab0lic on Thursday December 03, 2020 @12:45PM (#25291872)

I think what the grandparent post is trying to make clear is that there is no technical impediment to moving money instantly as some others have claimed here. It isn't that the amazing technology of blockchain has allowed us to achieve this for the first time. The reality is that this completely unregulated space is allowing people to sidestep a bunch of regulation and thus move money faster. If crypto becomes an issue the powers that be are going to do one of two things;

1) Regulate crypto such that it isn't an issue anymore and is in line with existing systems.

2) Improve the regulation such that the existing monetary systems move money more quickly/easily/whatever.

Crypto has an edge in neither of these situations.

[ Parent | on HN ]

Re:S&P Dow Jones Indices to launch cryptocurrency indexes in... by JxLS-cpgbe0 on Thursday December 03, 2020 @01:06PM (#25292213)

> there is no technical impediment to moving money instantly as some others have claimed here

Yes, there are quite a few where crypto has an undeniable advantage, I listed a couple.

> has allowed us to achieve this for the first time

That is wrong, we have never been able to use the improvements to the 45+ y/o SWIFT network (Ripple creates) that we can today.

> Regulate crypto such that it isn't an issue anymore

How will you require correspondent banking when 200+ banks are already side-stepping it?

> make the existing monetary systems move money more quickly

How would you make SWIFT settle accounts more quickly?

How would you remove the incredibly high prices on traditional wire transfers?

[ Parent | on HN ]