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RE: Chapter Three: The Investors, or who doesn't need protection.
To be a bit of a devil's advocate for the current system, it's objectively measurable whether or not you are as rich as Midas, but not if you have the wisdom not to hug your daughter with your gold-transforming fingers. You can backtest it obviously--just inform the SEC whether any children of yours now consist primarily of Au, and they can retroactively decide whether you ought to have been allowed to invest in Dionysius Transmutations, Inc. At which point it will be too late.
Or, in other words, it's simple enough to count net worth, even modified net worth. It's not so simple to count blockchain knowhow. Would the law be required to write a test for every sector of the economy?
well, of course it is easier to measure money, but the problem that money is not a good thing to measure when you want to know if a person has the qualifications for investing.
As I said, the current rules are ok in most of the cases, but I've shown three examples where they are not. These are not the ordinary cases, but might be other, problematic, cases.