[jedimind]

>Plenty of "smart contracts" have been drained due to programming flaws because they are so extremely complicated.

So? In the early days of the internet credit card scams and all sorts of scams were running rampant, the solution was not to stop developing because it's "extremely complicated" ( not true btw ), but to continuously improve systems. There are plenty of startups now that specialize on security and auditing smart contracts.

> Very, very few people can read and understand what is happening.

Anyone who can code and has a few hours can learn about it on youtube, it's not rocket science.

>It might be transparent in theory but in reality it's just for show.

Bizarre non sequitor, its transparency is an objective fact, what "show" is it supposed to be for? Auditors have been successfully discovering bugs and fixing them because of this transparency.