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I think the rate of technological change will force the SEC regulatory system to adopt an RFC process open to the public (bypassing Congress), similar to IETF, and I think Direct Democracy is an inevitable outcome of such disruption.

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That's a really strong statement. RFC structured this way because they needed people to contribute whereas SEC and Congress don't want people involvement.

The regulatory process is not scalable relative to the rate of technology driven disruption.

It cannot scale.

It can either fall behind or adapt to change, IMO.

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