Our regulatory framework is built around companies, and that doesn't fit what blockchains actually are. @milesjennings on the mismatch:
"Our entire regulatory framework from securities laws to corporate law, everything basically assumes that there is a company at the middle that controls and that control persists over time. When you apply that to building networks, right, what it means is that those networks end up being controlled by a centralized company."
"An incredible amount of power accrues to that company at the middle rather than to the people that are actually using that network and the ones that make it valuable."
"Blockchains allow you to remove the company from that and have a network that is fully autonomous on its own. And as a result of that, no one controls it."
@LawofCodeFM