Mediation, defined

https://preview.redd.it/iuymgyqcxkdh1.jpg?width=1999&format=pjpg&auto=webp&s=08ddc8a1d37d0c5602ee28bb3bfd991f6f2b12f8 A question institutional teams ask: why not just run a compliance layer over an existing settlement chain? On a chain built to settle first, settlement is the state transition; permission would have to be built into the definition of a valid transaction, not added after it. You…