With the Adoption of the Swiss Travel Rule, Self-Custody Would Be Considered High Risk. Forced Adoption Of Centralized Exchanges Would Be The Rule.

The FATF in its September 2020 report has labeled many common practices, not only of cryptocurrency users but of internet users in general as “red flags”.

Ethereum will not the all-mighty technology that was once promised as it needs primarily off-chain computation and potentially other blockchains to fulfill the promise of becoming the all-purpose smart contract platform simply because most of this computation won’t happen on it rather it will happen outside of it. So the world computer won’t be Ethereum, it will be a densely populated network of blockchains and decentralized systems which Ethereum and its shards will only be a small part of.

The Ethereum Medalla testnet bug should serve as a warning to all blockchain projects for possible central points of failure.

What substrate societies can do and how could they be used scale up governance and many other things in the decentralized world.

Let’s dissect the untold risks involved with the flawed validator design the Ethereum community is encouraging with validation done with local hardware and no sentries.