3 ms·
Ah yes, centralization.
by OldMidnight 5y ago
Ah yes, centralization.
- CryptoPunk 5y ago1. Much less centralization than legacy finance, as you only have to be able to trust in the integrity of open source software released at one point in time, not trust a black box corporation and government over the course of a long period of time while your funds are deposited at a bank. 2. The centralization is not mandated - you can choose to audit the software yourself. 3. If you do choose to rely on a trusted third party, the set of parties you can choose from is open, with no restrictions on who you can choose to rely on. Overall it enables a much more configurable and open financial system, with a larger set of parties able to participate in the market, and a much larger range of configurations that those parties can utilize.