Blockchain can indeed solve some problems in this area: fast speed, low costs, and automated processes.
The issue is that it is too transparent. Institutions like banks simply cannot use a system where all data is visible and there is no legal control. That is why, despite the obvious technological advantages, traditional financial institutions' adoption of public blockchains remains limited.
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FUD_Vaccinated
· 13m ago
There's nothing wrong with that, but I think that's the charm of blockchain—transparency is inherently a feature, not a bug. Banks want a black box, while we want an inverse black box; these are fundamentally two different worlds.
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Fren_Not_Food
· 01-11 19:56
Transparency is indeed a double-edged sword; banks want a controllable black box, not a democratic ledger.
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PumpDetector
· 01-11 19:46
transparency's the feature, not the bug. banks just aren't built for it lol. that's literally the whole point tho
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GasFeeNightmare
· 01-11 19:39
Staring at the gas tracker late into the night, I find that when it's cheap, I don't have enough funds to go on chain. This is my life.
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**Comment:**
Banks are just afraid of the on-chain ledger; saving on miner tips can't bridge this trust gap.
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SchrodingerProfit
· 01-11 19:36
Transparency is just transparency. People in the crypto world hype it up, but what banks want is the freedom of behind-the-scenes operations.
Blockchain can indeed solve some problems in this area: fast speed, low costs, and automated processes.
The issue is that it is too transparent. Institutions like banks simply cannot use a system where all data is visible and there is no legal control. That is why, despite the obvious technological advantages, traditional financial institutions' adoption of public blockchains remains limited.