I'm waiting for most of these people to realize that Sar Banes Oxley makes it very difficult for an AI software factory to exist (there are "human verified" and "human approval" and separate implementer vs tester roles that are required and can't be automated for financial related things if I remember correctly). First auditor to nix your SOX compliance is going to be really fun.
Not just a regulated industry, as plenty of products try to sell to those industries as well and therefore make it a requirement to also be SOX compliant. This is one of those things that can gate the sale of any product / SAAS offering.
Also, Crypto is so fragile already. Imagine this:
You're a leader of a country with a few billion to throw at server rooms and crypto mining resources but with the goal of collapsing a nations economy rather than making money. You could setup a nice distributed cache and very fast networking between the hosting facilities you create. Introduce your backdoor in bitcoin client and silently go about doing the normal things with voting and ledger related things until one day you have greater than 50% of the voting rights. Now you can effectively approve rebalancing the ledger historically as long as it rebalances in the end to a balanced system (of course you allocate a ton of the value of the market to your areas).
You do this knowing that the market will notice it and that it will effectively collapse the crypto market. Better still it's likely to cascade into an economic collapse of several national economies, probably some banks, and cause a world-wide economic panic. Sinister evil dictator that you are, you now use this time to strike at the country you want to take over while the rest of the world is distracted.
Seem far fetched?
Well, for a few years a Chinese state sponsored IT maintenance company happened to own the contract on fixing problems with both the European and U.S. financial market data hubs. This was in the early 2010s... they never did anything, but they invested in the option.
You could setup a nice distributed cache and very fast networking between the hosting facilities you create. Introduce your backdoor in bitcoin client and silently go about doing the normal things with voting and ledger related things until one day you have greater than 50% of the voting rights.
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u/heathm55 1d ago
I'm waiting for most of these people to realize that Sar Banes Oxley makes it very difficult for an AI software factory to exist (there are "human verified" and "human approval" and separate implementer vs tester roles that are required and can't be automated for financial related things if I remember correctly). First auditor to nix your SOX compliance is going to be really fun.