Bad take.
Discussion
How do you anticipate stocks and paper contracts are handled in the future?
Hopefully in Bitcoin not on Bitcoin.
And I like the idea of cryptographic signatures but we don't need blockchains for everything, especially if you're going to need oracles and intermediaries anyways. Nostr is perfect.
If the brokers want to use Ethereum in the background, so be it, but I bet Google could do a better distributed network that doesn't need staking and gas fees.
So my last option stated.
Both ethereum and google are centralized solutions to contracts. I’m a bit puzzled why all the current centralized players like JPM etc are leaning into eth instead of building on google or whatever else, though.
Nostr would require storage/hosting costs, so I guess service providers would be taking the fee in bitcoin. People would need their own relay too in case the bank rugged, then would need to depend on the paper legal system to enforce. If this emerges as a real option I’m supportive— but nostr can’t even do a permanent jpeg yet.
I don't know that they're building anything to be honest. I think it's just waffle to appease shareholders.
Maybe there is an opportunity to do regulatory arbitrage in international markets, but how long before those loopholes get shit down?
I think nostr for contracts would be easy. You sign a contract and both save a copy. The docs don't need to be accessible by third parties all the time, so it would be a lot easier than doing social media I think.