Ripple CTO slams regulators as Barclays blocks Binance payments

in DLIKE7 months ago (edited)

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Regulations in disguise

Regulators whilst purporting to protect the consumers actually provide far wider protection to the capitalist who have invested in the businesses in their jurisdictions.  

These capitalist are the people who fund the powers that be and get favors in return in various forms including favorable legislations.  

The protection granted to the consumers is a necessary evil to keep a facade that they are being helped whilst the capitalist gain a far greater favor in the background.  

It (the protection) is a necessity for the consumer without which he may find himself in trouble but the system uses it ingeniously to keep the consumer happy and the capitalist rich and happier.

Happy Capitalist

Consumers in the decentralized system, whilst being not regulated, do not get this protection from the regulators. But then the capitalist who have been enjoying the low hanging fruits are also beginning to miss out on opportunities and worst still losing grounds on their existing businesses to the new decentralized businesses.  

What is the solution then?  

Answer: Simple, just follow the old script. Align the decentralized businesses with the current regulatory regime by regulating them and blocking those who don't comply! 

It is a tried and proven method that has worked in the past to disproportionately benefit the capitalist and there is no reason it shouldn't work now.

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Ripple CTO slams regulators as Barclays blocks Binance payments

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