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Democracy is facing a legitimacy crisis, whereas crypto has put its own largely behind.
Despite past scandals like the DAO hack and FTX, the crypto world operates smoothly today, with outcomes generally accepted even when they aren't favorable. Market volatility, resolution of oracles, etc. are broadly accepted uncertainties that do not affect the perception of crypto’s overall integrity.
In contrast, democratic processes increasingly face claims of illegitimacy even when all actors follow the rules. A disliked SCOTUS ruling, a bad election result, a poor piece of legislation are all enough for voters on both sides of the aisle to cast the entire system into doubt.
Democracy is only as stable as the people that undergird it; crypto sustains itself regardless of how people feel. Ironically, it is crypto, with its mathematically based foundations, that will be the source of stability in the coming decades. This is why it’s critical that crypto becomes more integrated into our global financial system 16 replies
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