Isn’t the second part—getting counterparties to trust you—an essential part of building something like they have?
I’m reminded of the old joke about the tech who thumps a machine to fix it, then sends a $5000 bill. $5 for coming out and thumping, $4995 for knowing where to thump.
Maybe instead of “3% to update some tables in a money database,” it’s more properly “.001% for the database update, 2.999% for being trustworthy enough that everyone is willing to trade goods and services on the strength of our promise that they’ll get paid”
I’m reminded of the old joke about the tech who thumps a machine to fix it, then sends a $5000 bill. $5 for coming out and thumping, $4995 for knowing where to thump.
Maybe instead of “3% to update some tables in a money database,” it’s more properly “.001% for the database update, 2.999% for being trustworthy enough that everyone is willing to trade goods and services on the strength of our promise that they’ll get paid”