Maybe a bit like enterprise software, just add another abstraction layer...
This kind of fuckup could not happen with regular banking and if you somehow did mess up you can almost always have your money recovered. There is no way to just black hole it never to be seen again.
If it bothers you, you could probably also go through some service that insures your transactions and gives you a degree of reversibility.
That part we kind of figured out, maybe it's ok, albeit super slow and power intensive, but let's put that aside for a while.
But is there a solid mathematical and cryptographical basis for everything else layered on top? I don't get that impression, it just looks like they're just plugging gaping holes because there's a gold rush to be continued!
If they're just rebuilding a crappier version of the global financial system, there's no point in the rest of us following them.
Just to say, it really doesn't make sense to judge "crypto" by the state of Ethereum. There are different philosophies, different approaches, different people.
Maybe they'll find solutions. Cool, let them put those solutions in practice in 2040 when all the bugs have been worked out.
So all this complexity to get around regulations but you are going to run into the reasons this regulation came about at some scale.
