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Comment by diego_sandoval

5 hours ago

Yes, but there are more good reasons to have it be decentralized.

Well sure, but the average consumer needs and/or wants some protections, safeguards and insurances. If my bank gets hacked or even if I get skimmed it's considered their fault and I'll get my money back.

  • >I'll get my money back.

    If the police retrieves your money from the thief?

    • That's if it was stolen from you directly.

      If it's stolen from a bank, it's their obligation to recuperate you.

      FWIW, most countries have a type of insurance if a legally operating bank goes under, at least some of your savings are protected (eg. in Serbia that's up to 50kEUR).

    • While I can't speak for other places, in the UK, if you haven't been careless and report quickly enough, your refund is not dependent on anyone being caught.