Blockchain Risks & Regulations - Blockchains with arbitrary content pose higher legal and moral risks for operators compared to those confined to financial transactions [1] - Running a node that cannot selectively delete unacceptable content without functional disruption is riskier than data services with selective deletion capabilities [1] - Moral and legal categories of arbitrary content vary widely, including CSAM/CP, obscenity, copyrighted material, censored political content, trade secrets, and classified material [2] - Jurisdictions (hundreds) have their own variations in treating different content categories, with some prohibitions like those against CSAM/CP having high popularity and enforcement [2] - Government response to one type of content is a poor predictor of its response to another, and the response of one government is a poor predictor of another's response to the same content [3] Mitigation Strategies - Blockchains discouraging arbitrary content through escalating fee schedules, byte limits, and format enforcement are less risky to run [3]

RT Nick Szabo (@NickSzabo4)Arbitrary content on blockchains makes them far more risky, legally and morally, to operate, than with blockchains confined to financial transactions. Running a node where one cannot selectively delete unacceptable content without wider functional disruption is also far riskier than running data services where one can selectively delete unacceptable content without causing wider functional disruption.There are a wide variety of moral and legal categories of arbitrary content, and ...