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Written by: Omid Malekan
Translated by: AididiaoJP, Foresight News
This is a warning: as traditional finance gradually embraces blockchain, the moves of the largest financial intermediaries are very likely to foreshadow future failures. The more enthusiastically they adopt a particular form of the crypto world, the less likely that form is to succeed in reality.
These giant exchanges, clearinghouses, banks, brokers, and payment providers—these well-known names—will likely make headlines in the coming year due to their "cautious" embrace of blockchain.
How these institutions "go on-chain" mainly reflects their desire to maintain their power and profits, rather than revealing some truth about the future of crypto.
This is not a critique of these institutions, nor a conspiracy theory rooted in ideology. First and foremost, it is an extension of a core principle that underpins the entire crypto world:激