The “basically every past attempt”s that have been shut down have been under some kind of central control, or susceptible to government regulation or pressure. Having markets run on a blockchain may make this harder, which would mean that those who want to participate wouldn’t be stopped by people who want to stand in the way. If real money markets didn’t have to worry about the regulators, they could compete on price, execution certainty and speed, and we could find out what issues matter to the participants.
There are lots of reasons people will give you on why other people won’t participate, or what mis-features will be fatal. The biggest problem with past experiments has been the lack of competition, which is driven by the laws and regulations that have made legality and continuity uncertain. The ability to have competing public, real-money markets will allow us to find out what will actually work.
There is a lot of disagreement among practitioners and implementers about what matters. I’d like to see many different things tried.
The “basically every past attempt”s that have been shut down have been under some kind of central control, or susceptible to government regulation or pressure. Having markets run on a blockchain may make this harder, which would mean that those who want to participate wouldn’t be stopped by people who want to stand in the way. If real money markets didn’t have to worry about the regulators, they could compete on price, execution certainty and speed, and we could find out what issues matter to the participants.
There are lots of reasons people will give you on why other people won’t participate, or what mis-features will be fatal. The biggest problem with past experiments has been the lack of competition, which is driven by the laws and regulations that have made legality and continuity uncertain. The ability to have competing public, real-money markets will allow us to find out what will actually work.
There is a lot of disagreement among practitioners and implementers about what matters. I’d like to see many different things tried.
[something of an expert myself]