Comment by scyclow

I think the move is less having a central thing and more advancing wallet and multisig technology. ByBit was pretty reckless by using a simple majority multisig to hold $1.5b. At that level you should probably have a few speed bumps. Like, maybe a majority of signatures allows you to make a proposal, but you can only accept the proposal after a couple hours, which would give you the chance to see the malicious transaction and bail on it.

Something like that would probably be overkill for individuals, but most people would definitely benefit from some added on chain bureaucracy regarding how their accounts are managed. And yes, for many this would lead to a system that isn't notably less centralized than the traditional banking system. But people would at least have a choice as to where their wallets gets to sit on the bureaucracy <> complete freedom spectrum. And even if they end up closer to the bureaucracy end, they'd have a lot more flexibility and lower administrative fees than what they currently have.