Should the technology of our financial system transition to a decentralized protocol, that is not owned or controlled by any corporation, similar to the internet?

We should abolish the economy based on money and commodity production and replace it with a socialist system.

Transitioning to a decentralized financial system could promote transparency, reduce centralization of power, and provide more inclusive access to financial services

no because it will led to more fraud in the financail system like pump and dump and insider trade and other white collar crime.

yes and no, banks have security systems and fallback plans if something goes wrong they have professionals that specialize in the banking field. If that system were to transition to anything like the internet it would be harder to implement personal security for individuals

Yes, but only if it’s truly decentralized and is monitored by a trusted online protection unit to prevent criminals from using it.

Yes, though I believe more attention, and even aid would need to be provided towards those that lie in the poverty rate that don't even own cellphones, or barely have access to any electricity.

A hybrid approach, where certain aspects of the financial system become decentralized while others remain under centralized control, might offer a balanced solution that leverages the strengths of both models

No, this would not promote market competition or advancement in the industry as a standardized protocol would push for a greater focus on providing widespread access to the technology.

Not now. Blockchain technology is in its infancy, and has not been tested well enough to trust our financial system to it. But we shouldn't rule it out completely. It needs to be tested on a small scale for a number of years. However, our current system, controlled by corporations, brokerages, exchanges, and banks has proven untrustworthy in serving the interests of the American public. We need a new system that will reduce wealth inequality by providing more transparent, affordable, and inclusive access to financial services. We also need better protections from hostile agents, e.g. Russia, China, N. Korea, organized crime and terrorists, who are trying to manipulate our political and financial systems. In short, we need a total overhaul that focuses on the best interests of average working people.

We need to put more focus on the people and do what is right for us all and that will never be accomplished with financial means. It was a stepping stone and now we need to do what’s right without thinking a dollar value is going to solve anything.

who's in charge?

No as long as it is not used to obtain false information against someone

Financial systems should be free anyway, we should get to choose our form of currency

Unbacked currency is pointless, the value should not change, this is why the rich stay rich and the poor stay poor. It should be outlawed in it's entirety

Money itself should be abolished.

Should the technology of our financial system transition to a decentralized protocol, that is not owned or controlled by any corporation, similar to the internet? That's what I thought.

Would need to research this further

No, but having DeFi available as well is good

I would say yes, but I would prefer if there were extensive trials to pick a few individuals who were devoid of greed, want for personal gain, holding grudges, etc.. Then after they had run simulations or done tests on willing communities to find the best way to reach the outcome of everyone being equal with the chance to gain more, but not to use to put down others, they would be in charge of implementing it and making sure to make adjustments as time went on and things happened.

No, decentralized currency is unreliable and unstable

not quite sure... don't have enough knowledge on the topic

I think that there should be a medium - so if you wanted to use credit, savings, investing and purchasing you can but you can also use decentralized methods too.

Yes, but their should still be relevant government regulations in place to minimize illegal activity and corporations should be able to create their own protocols to support those who place more trust in institutions

I don´t care. just as long it works.

Yes but only if regulations are put in place to prevent manipulation and loopholes

Our financial system should be backed by something that has intrinsic value.

I believe that banks are untrustworthy as a whole and that society would be better off without them if the general public was able to safely store their money themselves. In terms of convenience, banks are incredibly helpful in storing, helping to budget, and help us manage our money, so they are a necessary evil.