Its interesting. When I heard the comment I immediately thought of only the tech. The distributed nature of the bitcoin network not to mention its track record is much more reliable to me than any other database. Why? Because of the design and incentive structure built into the technology. But that was my immediate response. Gensler was minimizing the "accounting method" aspect.

Now, I'm not saying I trust blockchains over another database. On that I'd agree with Gensler. What ship coins do is take one part of bitcoin and then totally change other key aspects and slap a name on it and call it better.