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20 sats \ 3 replies \ @tosky 28 Nov 2022
Thanks James, solid description. Am wondering if there is some form of a new revolutionary way for these users who already entrusted custody to third party outside of collaborative custody to address these challenges.
As you said, we again relay on accounting/auditing firms to prove that their funds exist. Reckon the Wyoming bank charter ensuring no rehypothecation is a step forward as well in traditional world.
What about some form of zero knowledge proofs?
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0 sats \ 2 replies \ @siggy47 OP 28 Nov 2022
I wish I could say I wrote that, but I just linked the article! Lavish is a hell of a lot smarter than me. For what it's worth I liked your response.
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20 sats \ 1 reply \ @tosky 28 Nov 2022
fair enough! thanks for the link then :))
does not change a fact you might provide your thoughts on additional ways to validate information or out of context methods to ensure semi custodial models
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10 sats \ 0 replies \ @siggy47 OP 28 Nov 2022
The Wyoming model is promising. I guess for those dead set against self custody for whatever reason, the Fedimint model is an okay compromise.
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0 sats \ 0 replies \ @theswissroadtocrypto 28 Nov 2022
good article- yep proof of liabilities is important too, and an audit is only as good as the photographer who took the picture, and 10 minutes later, it might no longer be valid
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0 sats \ 0 replies \ @eyesneverlie_ch 28 Nov 2022 freebie
good article thanks for sharing