If the Tornado Cash defence team's arguments are right, then Wells Fargo can transfer its entire apparatus onto "immutable" smart contracts, only operating the popular Wells Fargo front end, and then legally discontinue all AML controls. Seems too good to be true? 🤔
@jp_koning Wells Fargo custodies its customer funds. There's a big difference here. You know better.
@ameensol It does now. But if Wells Fargo were to put all its infrastructure onto the blockchain with smart contracts, then it no longer custodies. And following the Tornado Cash defence team's logic, no more AML required.
@jp_koning so suddenly every single Wells Fargo user is interested in self-custody? since the infra is onchain, does that mean it's also transparent? please don't make me tap the sign x.com/NeerajKA/statu…
@jp_koning so suddenly every single Wells Fargo user is interested in self-custody? since the infra is onchain, does that mean it's also transparent? please don't make me tap the sign x.com/NeerajKA/statu…
@ameensol @jp_koning You mean exactly how Wells Fargo customers behave when the remove cash from the ATM? #WarOnCash