Blockchain Is a New Way of Dealing With Financial Crisis

The DTCC and Euroclear are effectively the property layers of these financial systems, where instead of holding your own stock certificate or bond, that would be presumably a bear asset. So this becomes another mechanism through which they're socializing losses from economic shocks. The other fragility was obviously the derivative market that nobody can figure out because there's one quadrillion of those outstanding. But blockchain changed that because I saw it immediately and thought, well, every single security on earth is going onblockchain. Now how do centralized it needs to be for that? Opens a bait.