Varun Srinivasan
@v
one thing that take people a while to internalize is how social contracts are really the void which binds a protocol. standards, smart contracts, blockchains etc are all important pieces that make it harder to break these contracts casually, but do not make it impossible. if you have sufficient social consensus you can break all of them (see DAO fork, Bitcoin Cash fork etc)
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boscolo.eth
@boscolo.eth
đź’Ż - But these examples are not super relevant in this thread. The FC protocol is made up of different components. Today, 100% of the control of the identity layer is in Merkle's hands, which is essentially no different than đť•Ź.
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Varun Srinivasan
@v
no, identity lives onchain and is not controlled by merkle.
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boscolo.eth
@boscolo.eth
huh?! I'm talking about FIDs
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