Sometimes I think about the most boring task in finance: reconciliation.
Not trading. Not yield. Just two institutions trying to agree that the same money moved at the same time, for the same reason.
It sounds simple, but it’s always messy. Screenshots, PDFs, exported CSVs, back-and-forth emails. Half the work isn’t moving funds — it’s proving to everyone else that nothing weird happened.
And then we say: let’s put this on a fully transparent chain.
Which, honestly, feels strange.
Because now reconciliation is easier, sure — but confidentiality disappears. Every vendor payment, every client flow, every treasury rebalance becomes public metadata. Not illegal, not unethical — just exposed. That exposure changes behavior. Teams start splitting wallets, routing through intermediaries, avoiding the system entirely.
So the “open” design quietly recreates opacity through hacks.
That’s the part that bothers me. We build clean infrastructure, then force users into awkward social workarounds to protect normal business privacy.
Regulated finance doesn’t want darkness. It wants boundaries. Auditors can look. Regulators can look. Random strangers don’t need to.
Privacy shouldn’t be an add-on or a special mode. It should be the default posture of the system.
If a chain like @Plasma treats stablecoin settlement as plumbing — fast, cheap, boring, discreet — it might actually fit real operations.
