Additionally, Goldman Sachs is set to unveil a data service created with global index provider MSCI and crypto data firm Coin Metrics that seeks to classify hundreds of digital coins and tokens so institutional investors can make sense of the new asset class. https://www.zerohedge.com/crypto/pi...-completes-first-defi-trade-public-blockchain
I am sure you could automate 90% of banking but it is not clear to me how this is going to work when you have all these people in the middle hording the network resources. "MATIC, a utility and staking token within the Polygon blockchain ecosystem, rose over 18% to $0.985 after the announcements, accompanied by an uptick in daily trading volume." It seems built to fail as the more it gets used the more the token goes up and the more expensive everything becomes until it becomes a poor solution. No one seems to want to face reality that you need a token that inflates over time like every other currency ever because other wise you just get hording. Imagine if early Unix systems had the time tokenized so that computing time got more expensive over time. It is a fucking terrible idea unless the goal is for the network to be too expensive in time to be useful. The only counter argument to this is of course you can't get rich off hording the tokens that lose value over time.