> Unfortunately people are not 100% trustable, devices are not 100% secure and code is not 100% perfect.
- which is actually why you use crypto.
> If someone steals my credit number, I will likely not be on the hook for the money and will not lose anything.
- because the bank guarantees the safety of the payment means you use. The fact that you don't have to pay (as a private customer) doesn't mean that stolen credit card numbers and fraud transactions don't cost money. Someone has to pay somewhere in the chain. If the principal is recovered (the stolen money), then someone still has to pay for the overhead of recovering the money (for you). There're insurance and liability-shift mechanisms in place, but the money transfer would be much safer, faster, and cost-efficient if crypto was in place.
> If I make a mistake during banking, I can turn to people at the bank about it.
- So? It's not because your infrastructure uses crypto that you give up of customer support.
I'm sorry, but this is very naive about security, and cryptography, and blockchains. Allow me to quote some experts:
[0] > "Crypto is fundamentally unsafe. People hear that
crypto is strong and confuse that with safe. Crypto
can indeed be very strong but it’s extremely unsafe" -- Nate Lawson (Root Labs)
[1] > "We don't even really know how to build secure systems out of secure parts, let alone out of parts and processes that we can't trust" - Bruce Schneier
[2] > "If you think cryptography is the answer to
your problem, then you don't know what
your problem is" - Dr. Peter G. Neumann
If someone steals my credit number, I will likely not be on the hook for the money and will not lose anything.
If I make a mistake during banking, I can turn to people at the bank about it.