The difference is that licensed and regulated banks can scale it. Retail custome... | Hacker News

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		desas on Nov 8, 2023 \| parent \| context \| favorite \| on: Seeing like a bank The difference is that licensed and regulated banks can scale it. Retail customers can trust them due to their long-standing reputation, their banking licence and linked to that, the FDIC insurance.

immibis on Nov 8, 2023 [–]

Yes, but this only grants the ability to scale it, not the ability to do it.

We don't say that only licensed restaurants can cook food.

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