would encourage you to read up about how the rest of the world has solved this
Why don't you just tell us, rather than give us homework?
Can you just link us to the relevant pieces? I rather not search on my own and read wall street propaganda on why it's bad (which is what I'm finding and not interested in).
When you say rest of the world, what countries exactly do you mean? I'm from the Czech Republic and the process is also insurmountable for a regular company. You either go through a middleman or you can apply for a license (only 4 companies in the entire country ever got it and it costs upwards of $50k in legal fees just to file the application).