Re:Decentralized Woo Hoo
by uncomputation on Tuesday November 16, 2021 @11:39AM
(#29242632)
> Laws are not mechanisms
This part is interesting, the idea that enforcement and legislation are one in the same. However, for taxes, this would only just prevent tax fraud, right? There’s not really “mechanisms” for taxes. Congress passes the laws. You follow them when you file your taxes, or you may be audited later and fined/jailed.
> to skip VISA and classical banks while we’re at it
Loan pools and such are interesting, basically community lending. I’m not sure how much we could skip VISA. It’s a payment processor. You need someone to submit your transactions to nodes. In reality, they are of course going to charge a fee because they can make money. Just like VISA. One advantage is I guess they won’t have VISA’s prudish objections to certain kinds of transactions.
This part is interesting, the idea that enforcement and legislation are one in the same. However, for taxes, this would only just prevent tax fraud, right? There’s not really “mechanisms” for taxes. Congress passes the laws. You follow them when you file your taxes, or you may be audited later and fined/jailed.
> to skip VISA and classical banks while we’re at it
Loan pools and such are interesting, basically community lending. I’m not sure how much we could skip VISA. It’s a payment processor. You need someone to submit your transactions to nodes. In reality, they are of course going to charge a fee because they can make money. Just like VISA. One advantage is I guess they won’t have VISA’s prudish objections to certain kinds of transactions.