Replying to Avatar Naval

Programmable money (ETH, etc) is hard to scale. So people build Layer 2s.

But these Layer 2s are barely decentralized. And now there’s a crop of L2s that are really just multisigs.

But wouldn’t a sufficiently large group of multisigs be somewhat decentralized? Like a digital Hawala network?

Especially for transactions (but not for smart contracts where money is locked up).
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MF_HODL 1y ago

This is the general concept of the Fedimint project. It works in production today, but very little adoption… most likely because it doesn’t have a native shitcoin for VC wealth extraction.

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MF_HODL 1y ago

I believe you can execute any arbitrary code/logic within a Fedimint “smart contract”