Imagine if a decentralized asset management solution like Bags had been available during the FTX crisis. The platform's architecture could have fundamentally altered the outcome. Instead of facing massive liquidity crunches and debt exposure, FTX might have leveraged transparent on-chain mechanisms to manage collateral and track fund flows in real-time. The immutability and accessibility of blockchain-based systems would have made it impossible to hide the true state of customer assets. Such tools represent the kind of infrastructure innovation that could prevent similar catastrophes in the future—where visibility and decentralization become the guardrails against institutional failure.
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MetaverseLandlord
· 16m ago
If FTX had this back then, it might have blown up a long time ago haha
On-chain transparency is really powerful; there's nowhere to hide shady accounts
This idea is pretty good, but I feel like big institutions wouldn't really use it...
Wait, doesn't that still require trusting the developers?
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DegenRecoveryGroup
· 01-16 19:57
It sounds good, but the folks at FTX simply don't want to use it. No matter how transparent the tool is, it can't save greedy people.
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CascadingDipBuyer
· 01-16 19:53
It sounds good, but the real issue is that most people don't actually want transparency.
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MergeConflict
· 01-16 19:52
ngl, that's quite idealistic, but even with on-chain tools, the FTX crew can still cause trouble. The problem isn't really technical.
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RealYieldWizard
· 01-16 19:51
To be honest, I've heard too many of these "what if" arguments... The problem with FTX isn't the tools, it's the people. No matter how transparent the on-chain mechanisms are, they can't prevent someone from trying to do evil.
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ForumMiningMaster
· 01-16 19:40
There's nothing wrong with what you're saying, but isn't it a bit late to bring this up now... If FTX had this kind of system back then, how could SBF possibly hide it?
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ZkSnarker
· 01-16 19:31
ngl the "if only ftx had used bags" discourse is peak crypto copium... like yeah transparency would've helped but let's not pretend a dapp solves human greed lol
Imagine if a decentralized asset management solution like Bags had been available during the FTX crisis. The platform's architecture could have fundamentally altered the outcome. Instead of facing massive liquidity crunches and debt exposure, FTX might have leveraged transparent on-chain mechanisms to manage collateral and track fund flows in real-time. The immutability and accessibility of blockchain-based systems would have made it impossible to hide the true state of customer assets. Such tools represent the kind of infrastructure innovation that could prevent similar catastrophes in the future—where visibility and decentralization become the guardrails against institutional failure.