Crypto’s Very Human Fatal Flaw: Hero Worship


The challenge then, for crypto, is not to figure out the best governance practices for each Layer 1 blockchain protocol, but to find the right framework of overarching governance for all the other human-led members of the surrounding ecosystem: the exchanges, the market-makers, the trading desks, the custodians, the wallet providers and so forth. Should it all be the government’s responsibility? Or is there a self-regulatory, industry-wide solution?

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