The regulatory capture angle is the piece that doesn't get enough airtime. The laws we live under are increasingly written by the entities they're supposed to constrain - banking regulations drafted by bank lobbyists, crypto rules shaped by incumbent financial institutions.

The optimistic view is that blockchain's transparency makes this harder to hide over time. Every on-chain transaction is auditable, every DAO governance vote is public. The infrastructure for accountability exists - the question is whether enough people care to use it.

What's the one regulation you'd change first if you controlled the pen?