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@ISIDEWITHQuestionseconomyStarted 3yrs agoActive 6mos ago

Should the technology of our financial system transition to a decentralized protocol, that is not owned or controlled by any corporation, similar to the internet?

Decentralized Finance (commonly referred to as DeFi) is a blockchain based and cryptographically secure form of finance. Inspired after the financial crisis of 2008, DeFi does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum. DeFi platforms allow people to verify any transfer of ownership, lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against…  

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795 Replies

 @ISIDEWITHDiscuss this answer...3yrs3Y

No

 @ISIDEWITHDiscuss this answer...3yrs3Y

Yes

 @ISIDEWITHDiscuss this answer...3yrs3Y

Yes, but I would prefer if the protocol was created and secured by a government agency instead of a decentralized protocol

 @ISIDEWITHDiscuss this answer...3yrs3Y

Yes, but only if it’s truly decentralized and cannot be manipulated by any person, group, or government agency

 @ISIDEWITHDiscuss this answer...3yrs3Y

No, and I don’t understand the concept of decentralized finance

 @9Q2H7TTEn Marche!from Texas  answered…6mos6MO

The answer doesn't matter as long as the free market leads to it.

 @ISIDEWITHDiscuss this answer...2yrs2Y

Yes, this could reduce income inequality by providing more transparency and inclusive access to financial services

 @ISIDEWITHasked…1yr1Y

Imagine a world without banks as we know them; what would be the most exciting or daunting aspect for you?

 @ISIDEWITHasked…1yr1Y

How do you think decentralization might affect financial equality around the world?

 @ISIDEWITHasked…1yr1Y

What concerns might you have if your money's security depended on technology without direct oversight?

 @ISIDEWITHasked…1yr1Y

If you had the choice, would you switch to a decentralized financial platform, and why?

 @ISIDEWITHasked…1yr1Y

Can a decentralized financial protocol effectively prevent things like fraud or theft better than our current system?

  Deletedanswered…3yrs3Y

No, DeFi lacks computational scalability, offers no privacy, and lacks in accountability checks beyond transparency.

  Deletedanswered…2yrs2Y

I’m uneducated on this issue.

 @ISIDEWITHasked…1yr1Y

Have you ever experienced frustration with your bank, and would a decentralized system have solved that issue?

 @ISIDEWITHasked…1yr1Y

What do you think would be the greatest benefits and drawbacks of having a financial system outside the control of any single entity?

 @ISIDEWITHasked…1yr1Y

How would your daily life change if money and financial transactions were completely decentralized?

 @ISIDEWITHasked…4mos4MO

How might financial freedom look different to you if you could operate outside of banks and governments?

 @ISIDEWITHasked…4mos4MO

Do you trust technology more than people when it comes to managing your money?

 @ISIDEWITHasked…4mos4MO

How could a financial system run by the public benefit or challenge individuals in low-income communities?

 @ISIDEWITHasked…4mos4MO

Would you feel safer or less secure using a system where no one organization controls your money?

 @ISIDEWITHasked…4mos4MO

How do you think a decentralized model could challenge big corporations in the financial world?

 @ISIDEWITHasked…4mos4MO

If you no longer needed a bank for basic services, how would your approach to saving and spending change?

 @ISIDEWITHasked…4mos4MO

If every person had the ability to control their own financial services, what kind of new risks do you imagine might arise?

 @ISIDEWITHasked…4mos4MO

How would you handle issues like fraud or theft if there were no central authorities to help?

 @ISIDEWITHasked…4mos4MO

Could you see yourself using a financial platform with full transparency, where all transactions are public on a ledger?

 @ISIDEWITHasked…4mos4MO

How do you think a global push towards decentralized options would impact governments' control over their economies?

 @57ZY5FNanswered…3yrs3Y

The government should have its own set of financial institutions that compete in the Free Market.

 @88NZKDZ from New York  answered…3yrs3Y

Yes, but it should be syndicated into cooperatives.

 @7PTCG38 from Wisconsin  answered…3yrs3Y

No, the anonymity of decentralized protocols greatly increases the chances of criminal financial activity

 @7PTCG38 from Wisconsin  answered…3yrs3Y

No, the anonymity of decentralized protocols increases the risk of criminal financial activity

 @7PTCG38 from Wisconsin  answered…2yrs2Y

No, this would substantially increase the risk of financial criminal activity

 @7PTCG38 from Wisconsin  answered…3yrs3Y

No, this will both encourage and increase the risks of criminal activity

 @7PTCG38 from Wisconsin  answered…3yrs3Y

No, this will both encourage and increase the risks of criminal financial activity

 @ISIDEWITHasked…1yr1Y

Do you feel that your personal financial information is truly secure, and could decentralization make it more or less so?

 @ISIDEWITHasked…1yr1Y

In what ways could a decentralized financial system impact the global economy, positively or negatively?

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 @ISIDEWITH submitted…2mos2MO

Ukraine's Hail Mary: Zelensky Bets on Trump for Peace Amidst War

Ukrainian President Volodymyr Zelensky congratulated Donald Trump Wednesday on his "impressive victory" in US elections and said he hoped his presidency would bring a "just peace in Ukraine closer".A second Trump term raises questions over Washington's long-term support for Ukraine, battling a Russian invasion for almost three years, as the Republican candidate has been highly critical of US military aid to Kyiv."I appreciate President Trump's commitment to the 'peace through strength' approach in global affairs. This is exactly the principle that can practically bring just peace in Ukraine closer," Zelensky said in a statement on social media."We look forward to an era of a strong United States of America under President Trump's decisive leadership. We rely on continued strong bipartisan support for Ukraine in the United States," he added.Zelensky said Kyiv was "committed to ensuring long-term peace and security in Europe and the transatlantic community with the support of our allies".Prime Minister Denys Shmygal later said Ukrainians "look forward to an era of a strong United States under your leadership".Zelensky met Trump for talks while visiting the US in September, a meeting that came after public tensions between the two politicians.Standing next to Zelensky, Trump had touted his working relationship with Russian leader Vladimir Putin.Ukrainian presidential aide Andriy Yermak, congratulating Trump, described the September meeting as "productive.""It is essential that Ukraine has bipartisan support in the United States," he added.

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 @ISIDEWITH submitted…1mo1MO

Starmer Throws Netanyahu Under the ICC Bus: UK Backs Arrest Warrant for Israeli PM

Sir Keir Starmer has backed the International Criminal Court (ICC) after it issued an arrest warrant for Benjamin Netanyahu, the Israeli prime minister.When asked about the issue, Sir Keir’s official spokesman said the Government respected the independence of the court.He declined to say whether Mr Netanyahu would be arrested if he arrived in the UK.The spokesman said: “We respect the independence of the ICC, which is the primary institutional institution for investigating and prosecuting the most serious crimes in relation to international law.“This Government has been clear that Israel has a right to defend itself in accordance with international law. There is no moral equivalence between Israel, a democracy and Hamas and Lebanese Hezbollah, which are terror groups.“We remain focused on pushing for an immediate ceasefire to bring an end to the devastating violence in Gaza.”Under the Conservatives, the British government had told the court it intended to challenge the plans for the arrest warrants.However, weeks after coming to power, Sir Keir’s government reversed that position and said it would not object.Downing Street also declined to say whether Mr Netanyahu would be welcome to visit Britain in the future.Sir Keir’s spokesman said: “We never comment on future international visits but my position on the Prime Minister’s support for Israel in terms of its right to defend itself in accordance with international law is very clear.”The spokesman repeatedly declined to “go into hypotheticals” about whether Mr Netanyahu would be arrested if he arrived in the UK.He added: “It’s not up to the Prime Minister to determine other world leaders’ travel schedules. He engages and will continue to engage with the prime minister of Israel in support of Israel’s right to defend itself.”Pressed on what he meant by his comments about the court, the spokesman said: “It means that we respect the independence of the ICC. We respect the fact that the ICC is the primary international institution for investigating and prosecuting the most serious crimes of international concern.”The spokesman went on to say the Government’s “focus” remained an end to the violence in the Middle East, which has been ongoing for more than a year after the Oct 7 terror attacks by Hamas.

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 @ISIDEWITH submitted…1mo1MO

Biden will issue a pardon of his son Hunter Biden

President Joe Biden has decided to issue a pardon for his son Hunter and is expected to announce it Sunday night, according to a senior White House official with direct knowledge of the decision.The decision marks a reversal for the president, who has repeatedly said he would not use his executive authority to pardon his son or commute his sentence. The pardon comes ahead of Hunter Biden’s Dec. 12 sentencing for his conviction on federal gun charges. Hunter Biden also is set to be sentenced in a separate criminal case on Dec. 16, after pleading guilty in September on federal tax evasion charges.The pardon is expected to cover both Hunter Biden’s gun charges conviction and guilty plea.The senior White House official said Biden decided over this weekend to grant his son a pardon and began to inform his senior aides on Sunday. Using his pardon power to assure Hunter Biden does not spend time in jail comes as the 82-year-old president is near the end of his term in the White House and has no future election to face. In recent months Biden has said he would not pardon his son or commute his sentence.“I will not pardon him,” the president said of his son in June after a jury found him guilty on three federal gun charges.President Biden has discussed issuing a pardon for his son with some of his closest aides since at least Hunter Biden’s conviction in June, two people with direct knowledge of the discussions about the matter said. They said a decision was made at the time for the president to publicly say he would not pardon his son even though doing so remained on the table.White House press secretary Karine Jean-Pierre told reporters earlier this month that the president’s position has not changed.

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 @ISIDEWITH submitted…2wks2W

Defense Bill Blocks Transgender Care To Minors

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▲  2016 replies3 agree