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A comment on 100 years of whatever this will be. Parent comment

Re:100 years of whatever this will be by scoofy on Thursday December 02, 2021 @06:12PM (#29424252)
These people likely do not know of the lives destroyed by the wildcat banking era of the mid-1800's in the United States, which is what DeFi seems to become.

People don't think of the failing power of international sanctions.

The consequences of a fully de-regulated financial system will likely lead to more armed conflicts. That said, I agree that the political system is broken, but that's a problem of democracy.

https://en.wikipedia.org/wiki/Wildcat_banking

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Re:100 years of whatever this will be by Karrot_Kream on Thursday December 02, 2021 @06:21PM (#29424369)
The historical consensus behind this idea is not there. Here's [1] a good example of some scholarly dissent. I'm pretty sure the truth is more complicated than advocates of the "Wildcat Banks evil" idea keep parroting.

[1]: https://www.alt-m.org/2021/07/06/the-fable-of-the-cats/

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