Some people write off blockchains as inefficient databases, but they fix various issues. With banks you have to trust them to get it right and for everyone involved to maintain good security. With millions of points of failure it's bound to go wrong, so they have forms of insurance to pay for mistakes. With crypto you take some responsibility as a user in keeping your keys secure. That does mean we need good user education, but then people should be aware of the risks in any system they use.
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Nicely summarised - I am generally in favour of more personal responsibility but it does make me think about how the genuinly vulnerable wld cope in a fully decentralied system!
We've seen today how trust can fail with the hack of Leofinance Discord. When there's free money on offer people may drop their defences and not realise it
Wow I wasn't aware it was hacked!
Not good!