No intermediaries. No brokers. No KYC. No borders. No default risk. No counterparty risk. Unstoppable. Uncensorable.
Discussion
I'm thinking that if you can derive the Bitcoin USD price from blockchain data... you can also derive the EUR price. Implicitly you could also get EURUSD rate.
So not only can you do all type of Bitcoin derivatives... but also EURUSD derivatives!
Uncensorable FX trading will become very relevant in the coming years as protectionism ramps up.
If a tariff war erupts... capital controls and FX controls always follow.
But now we have a new global financial system.