It ain’t just about programmability – Bits on Blocks

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In public blockchain based finance, this ability for one program to interact with another program, is known as “composability”. This is incredibly powerful, as it allows exponential improvements because you can trust the foundations* on which you build on. This does not exist in traditional financial rails, and probably never will.

Another benefit of public blockchains.

Programmable financial services as public goods

From It ain’t just about programmability – Bits on Blocks:

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* Not yet, but you get Anthony’s point.