This is one of the biggest dangers to the cryptosphere. Namely, that crypto was basically created by outsiders and people who wanted to get out from under the yolk of the legacy financial game. If you didn't play by their rules, where they held all the power and control, you didn't get to play at all. Bitcoin was meant to change that, and it has in many ways. BUT....
The lure of being brought into the good ol' boys club that is the legacy banks is soooo strong that rather than continue on the road to putting them out of business, some of these companies are selling out and getting roped in. Under the auspices of being guided and included in "merging" the two worlds, they are actually being manipulated and controlled into giving up their vision.
Maybe I'm reading into it a little too much. Maybe there does have to be some hybridization to ultimately achieve the freedom blockchain is meant to give, but this was just my immediate gut reaction to this story, and I've been around long enough to know that my gut instincts tend to be on the right track.
Time will tell as it always does....
Another 5 comment, comment. I'm never going to win this contest....lol
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I understand your point and I agree with you.
Money talks and the legacy system has lots of it so it's going to be hard to build something completely out of the system but I think eventually we'll accomplish that
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I really do not think you are reading too much into this. There is a major problem that you outline. We are seeing entities that are built from the proper value system selling out. Plus we have a lot of VC money starting to roll in. This is all taking Cryptocurrency away from Satoshi's original vision.
We need to start funding things in a decentralized manner. This will put the venture capitalists on the sideline.
Ironic, but the regulatory environment might help us get back to the original vision.
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