Finally, finance's digital transformation | Crypto Craft

  • Finally, finance's digital transformation

    From a16zcrypto.com

    As someone who thinks of himself as a “crypto” person, I’ve always found it puzzling that Wall Street — and increasingly, Washington — insists on using the term “digital assets.” Almost every asset I interact with on a regular basis is digital. I can’t remember the last time I carried cash. All of my personal finances, from bank to brokerage accounts, are digitized. I rarely even use a physical credit card anymore and, based on my interactions with peers, I’m not an outlier. For most people in the developed world, the only assets that aren’t inherently digital are things like a house or a car. ... (full story)

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Trader#D781
May 7, 2026 11:01pm
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it's all about prudence.

i surely wouldn't trust my money on fly-by-nite, untested systems like blockchain - and the more money i have under mgmt the more conservative i'd be. the immutability of transactions means they wouldn't be easily rolled back in case of theft compared to old system. crypto also creates a new problem: the security of your private keys.

crypto is also not as private as their proponents suggest. all your financial data is practically available for all to see, including the bad guys. say anything you like about banks but to get customers' data you either have to hack into their system or serve the bank with subpoena.
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