> compromising the central party gives you the keys to the kingdom
What does this look like in practice? The Federal Reserve being hacked? Why would an immutable blockchain make that more pleasant than our current, reversible system where something like the 1933 eight-day bank holiday [1] is possible?
Practically speaking, central banks get compromised by political factors much more frequently than by hackers.
What does this look like in practice? The Federal Reserve being hacked? Why would an immutable blockchain make that more pleasant than our current, reversible system where something like the 1933 eight-day bank holiday [1] is possible?
Practically speaking, central banks get compromised by political factors much more frequently than by hackers.
[1] https://en.wikipedia.org/wiki/Emergency_Banking_Act