> The traditional banking model achieves a level of privacy by limiting access to information to the parties involved and the trusted third party.

https://bitcoin.org/bitcoin.pdf Section 10.

Well, there's the seller, the buyer, the seller's bank, the buyer's bank, and the seller's card processing agent. In some cases two or more of the third parties are the same organization, but usually they are not.

You don't necessarily trust the other party's bank or the payment intermediary, either. Sometimes, you just hope that your bank will be willing and able reverse the transaction if you have a problem.

Yes, there really is a need for #DeFi.

#Bitcoin | #Cryptocurrencies | #Trust | #Intermediaries | #Gatekeepers