Derivatives aren't bad, in and of themselves.

Orange juice is a derivative of oranges.
But the important thing is that there isn't someone who thinks they own the oranges and another who thinks they own the orange juice.

Most derivatives should have been settled and cashed out.
However, that would take teams of lawyers and accountants, and take years for each one.

If derivatives come to the block chain, it will be in the form of smart contracts, and will be settled instantly, via the rules specified (that you can see).

The shenanigans with silver happen because bare-naked shorts are allowed to be executed.

Meaning, someone can sell silver without having any silver. And, if they are caught owing, they can settle in The US dollars. So, the "silver" derivative, really isn't about silver.

Someone (Cha cough) is flooding the market with fake silver, driving the price down.

And, this is going to end with a silver futures crypto.
Where people who need silver will buy a silver futures token, and suppliers who are mining silver can sell future production.
And, this will be settled in silver

The Comex is doomed. No one who actually wants silver will go near that place.