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I didn't say it eliminates the need for third-party auditing, which it doesn't, only that it reduces the cost.



It not only reduces the cost, it keeps people honest, which is what humans like Jamie Dimon and some investors do not like.


> which is what humans like Jamie Dimon and some investors do not like

There are plenty of people on this thread (myself included) who believe regulators are overdue in cracking down on this space. No need to invoke a bogeyman.


They should have cracked down on banks (too big to fail, if you remember) before ICOs and crypto. Lesson learned.




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