Hey blockchain people :) 

All of us who are supporters of decentralization can find the following publication via Paxos as positive and exciting as it highlights the shortcomings of the traditional financial market infrastructure (FMI), which suffers from high intermediary costs, long clearance times, security concerns, and unreliability.

The existing financial market infrastructure (FMI) faces issues such as high intermediary costs, long clearance times, and lack of access for billions of unbanked individuals. To meet the demands of a digital world, FMI needs an overhaul, with technologies like AI, Cloud Computing, and blockchain playing a central role. Blockchain technology offers transparency, immutability, and security, enabling faster and more efficient asset movement, lower transaction fees, and shorter settlement times across all asset classes.

Current financial infrastructure struggles with security, reliability, and capability, as it was designed before cybercrime became a global threat. It is not optimized to handle the volume and complexity of everyday transactions. Blockchain technology can address these issues by improving the overall capabilities of FMI, streamlining and automating processes, providing faster settlement without counterparty risk, and offering greater security and transparency in banking transactions. 

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