Base just discovered banks from first principles.
kidding aside, it's a pretty neat idea but it's completely orthogonal to blockchain ideals. From what I understood from the docs, it's just a glorified db that is secured with some cryptography and the settlement contract on Base.
Enterprise-grade private transactions are live on Base
Introducing Base Privacy: a native and compliant infrastructure for enterprises
Financial institutions can trade, pay, and settle with confidentiality on crypto rails
Those who say "crypto is dead" or "DeFi is dead" don't know what they are talking about.
Banks never operated in such harsh conditions, and they always get saved by the Big Printer. As a result, their infra is horrifically bad.
In DeFi, we have to make sure that our stuff is solid, and only the fittest survives
@bajpaiharsh244@Arnaudschenk > B can contest in a decentralized court, the escrow transfers control to a decentralized court
This part is doing a lot of heavy-lifting.