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I'm intrigued because historically currencies tend to get 'rolled up' - euro centralization of european currencies around the (very secretive) ECB is a good exa

I'm intrigued because historically currencies tend to get 'rolled up' - euro centralization of european currencies around the (very secretive) ECB is a good example. I agree with your point about the tech world centralizing and decentralizing in sequence (thin clients/cloud etc) but in the monetary world there seems to be far more momentum to centralize than decentralize. We even see this in banking - there are 5 big high street banks in the uk and 100s of local banks in Germany, who arguably are the defacto central bank of the european union. Closer to the center equals more options for diversification. This may be a similar scenario with crypto, especially now security tokens are increasingly asset backed.

AndrewKemendo 8y ago
Different time horizons, but it actually happens there too, only it looks like the disintegration of nation states into smaller states and then centralization again. Interestingly there haven't been as many of these monetary cycles in history since the emergence of major centralized banks, which is a good thing. So there is a (strong) argument that currency centralization is a driving force in stability and peace.
- adrianratnapala 8y ago
  The correlation is clear, and probably meaningful. The causal are are complicated. Countries that have been at peace a long time, and which have whatever institutions and habits encourage such peace are also ones that can grow big multi-national corporations including banks.