Transparency That Banks Can’t Match

[cryptohog]

The Paxos incident has sparked a debate on blockchain’s accountability vs. traditional finance.

In 2024, Citigroup mistakenly credited $81 trillion to an account — it took hours to fix and 10 months before the public knew.

Deutsche Bank once sent €28B ($32.6B) in error.

By contrast, blockchain makes such events instantly visible.
“This level of transparency, and real-time coordination, is unheard of in today’s central banking economy,” said Eco CEO Ryne Saxe.

[alex10]

Blockchain’s open ledger offers the kind of auditability traditional banks can only dream of.

[Nahid10]

This level of transparency could redefine how consumers view financial institutions.