It is usually safe to assume that if someone starts talking about "democratizing finance" (or even more dubiously, "democratizing money" or "decentralizing finance"), they are preparing a scam of some kind. Finance is anti-democratic by nature; it's not about equitable distribution of political power but the exploitative distribution of resources for private gain. And money is at its core little more than inequality's scorecard, a means for documenting and carrying inequality forward. (The blockchain is a fantasy about making such inequalities truly indelible; this gives rise to an accelerationist counter-fantasy of being able to erase all the advantages that have accrued to the wealthy in one conveniently centralized location.)
In the entrails of beasts
In the entrails of beasts
In the entrails of beasts
It is usually safe to assume that if someone starts talking about "democratizing finance" (or even more dubiously, "democratizing money" or "decentralizing finance"), they are preparing a scam of some kind. Finance is anti-democratic by nature; it's not about equitable distribution of political power but the exploitative distribution of resources for private gain. And money is at its core little more than inequality's scorecard, a means for documenting and carrying inequality forward. (The blockchain is a fantasy about making such inequalities truly indelible; this gives rise to an accelerationist counter-fantasy of being able to erase all the advantages that have accrued to the wealthy in one conveniently centralized location.)