The Main Problem With The Industry Is Not Fixable With Blockchains, Directly Persay

SOURCES

"https://treasuryraid.lexpunk.army/ - automated public commenting for the 82 page Treasury Proposal

https://twitter.com/CryptoTaxGuyETH/status/1695603888957641154 - Thread explaining the 82 page Treasury Proposal

https://www.govinfo.gov/content/pkg/FR-2023-08-29/pdf/2023-17565.pdf - The full 82 page Treasury Proposal for DeFi Broker KYC requirements

https://www.warren.senate.gov/imo/media/doc/2023.10.17%20Letter%20to%20Treasury%20and%20White%20House%20re%20Hamas%20crypto%20security.pdf - Long spree of misinformation from Elizabeth Warren concerning Nation Security

https://twitter.com/propelforward/status/1715072779723137061 - Thread explaining the Patriot act and Fincen proposal on mixers which sweeps up DeFi

https://www.fincen.gov/news/news-releases/fincen-proposes-new-regulation-enhance-transparency-convertible-virtual-currency - actual fincen release on today's Patriot act proposals

https://twitter.com/duganist/status/1456228685137260558 - 2021 Infrastructure Broker amendment bill super thread"

-----------------------------------------------------------------------------------------------------------------

This industry is playing whack a mole with the usa government, constantly trying to make concessions or propose deeper layers of decentralization for the backend engineering like PBS and enshrinement, which it should.

The problem with this industry is frontend engineering. We are absolutely on our way to every layer 2 being controlled by a strong VC american team with golden backdoors for law enforcement explicitly to do Trudeau stuff, which they called freeze and seize and interdictment. They want you to use Layer 2 and appchains and stable usd coin so they can kill the decentralization and control it through deputized corporate VC and registration databases. They want information on btc mining operations, they want meta-logs on sequencers, relays, rpcs, indexer, all the middleware can be sued in court both civilally and criminally. They're preparing the legal case to sue any software wallet with native swaps.

You simply do not understand how obsessed america is with KYC and how ulterior and malicious it is being, and yes at a minimum it is to covertly enforce the agenda of the SEC, that being the bare minimum they want.

Below is a way to fix the issue with frontends and interblockchain middleware communication, it is bittorrent tech, turning centralized internet and browsers into torrent driven p2p serverless browsers.

S5 (in the spirit of Skynet/sia), libp2p/IPFS, Iroh (from IPFS tribe), hypercore, and probably some minor p2p nets. In the big picture, it's more about what each tech does, as everyone has their own way of doing shit.

Every blockchain eco invents its IPNS, a key/value database pointing to a file hash. It's the tribal nature of "we want our own X". But the big picture is using P2P nets with browser code that can verify the file content via the file hashes and streaming data.

The blockchain solves the economy legos, and PGP is the origin for crypto wallets (public key math), which goes back to the 1990s encryption export wars (code is speech).

Lastly, DNS should be censor-proof. We have DNS via BIND's (named on centos) DNS, which we have now, and RPC-based DNS records with ENS and other ENS-inspired protocols on other EVM nets or non-EVM nets. But we have work to do there (in which handshake plays a part)

We also need to incorporate the DaneSSL and DNSSEC standards onto HNS and ENS, to prevent phishing.

​

There's really no way to argue my point other than agreeing that some of you want KYC on frontend GUI and backend registration with the SEC, or the other argument is that you "wont" get sued, which is just wrong, I know it's wrong, and all of your General Council and Lawyers know it is wrong, no one reads the law, the people who read the giant breifings from the Treasury and EU Commissions know the Goose is Cooked.