You do need global agreement on standards, with which Service-Providers-Formerly-Known-As-Banks, ensure compliance - ie "thou shalt not".
Public authorities can also go bust, and central banks occasionally do, but at least there are some procedures in place to detect and punish conflicts of interest, and an expectation of transparency which cannot be deflected by appeals to trade secrets or business practices. En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
For-profit service providers have a conflict of interest.
You're telling me! "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
