I always have had mixed feelings over the stakes those exchanges end up with and could use in a big way. Remember the Tron takeover and witness revolution?
One one hand, a big investment of time and money and attention has to be put in place in order to set up as an exchange and this is an essential service for people and large groups dealing financially with the blockchain. On the other hand,it seems like the banks having the biggest say in the financial laws which is not fantastic in the real world.
I definitely agree that there has to be a business accountability and it is communication and transparency that will enable smaller stake holders to contribute and help with the diligence.
So happy for what BT has done and how he has involved himself in our community but I do worry.
I think there is a safety mechanism in the chain now to deal with this. If they powered up (it is currently liquid of course), they don't have witness voting privileges for 30 days I believe. Plenty of time to make some more changes.
BT is the biggest holder here, which also means he has the most to lose directly from problems. Stake comes with risk also.
True! They have always been forthcoming with their updates when I was watching but I couldn't help but wonder. Awesome we have a little safety built in now.