IMO social media needs competition but I don't think it will be disrupted by blockchain or decentralization. It will be disrupted by a continued pursuit of competition by doing things like supporting net neutrality. That keeps the playing field level and prevents current big players from becoming further entrenched. Big tech's monopolies are encouraged by lower-level-monopolies owned by Comcast and the other internet media conglomerates. To solve the problems higher in the tree we should get at the roots.

It is somewhat disruptive to banks. You can invest stable coins and get interest for example which is higher than bank interest. And the operator doesn't need to spend a fortune applying for banking licenses for each country they operate in.

Absolutely not. The reason bank interest is lower is because the FDIC ensures that you get your money if the bank stops existing. If the company backing your stablecoin stops existing, what are you left with? Nothing, of course

This not disruptive. This is just normal investing with all the risks attached

According to Nexo "Disrupting the financial system, one bit at a time." they have 3 million users on their saving platform. (https://nexo.io/about-us). I haven't used them and am not recommending them but there seems to be something going on there.

> not recommending them but there seems to be something going on there.

Isn't that exactly what they said about tulip bulbs too?

FDIC doesn't have enough money to cover everyone in case of some really bad event. And FDIC is useless when your currency is devalued / hyoerinflated.

What's an example of an event where the FDIC needs to cover everyone, but the blockchain isn't taken offline or worse?

Try looking into why these investments have higher returns than a bank account. The risk profile isn't the same at all.

If you want returns in traditional finance, you don't stick money in a bank account. You buy bonds and/or stocks.

You say this on a thread that confirms Tether to be an unmitigated fraud. How and why are we supposed to trust in USDC, USDP and all the other permutations of USD to not be frauds themselves. It is easy to give a 10% return when all your really doing is offering unbacked IOUs

For USDP you could look at the NY regulatory compliance of it. USDP appears to be the most regulated USD token.