That's literally the opposite of self-regulation.
Not quite the opposite, it still outsourced the administrative burden. They avoided the hassle of boarding every ship and inspecting the cargo with a random threat. One could even call it "properly incentivized self-regulation".
alt Hacker News
Not quite the opposite, it still outsourced the administrative burden. They avoided the hassle of boarding every ship and inspecting the cargo with a random threat. One could even call it "properly incentivized self-regulation".