Centralization Still Rampant in Crypto (and it’s all under the hood)
▻https://hackernoon.com/centralization-still-rampant-in-crypto-and-its-all-under-the-hood-299a23
99% of #cryptocurrency Products are still Centralized and that’s a Problem“He who is given power will inevitably become an oppressor and exploiter of society.” — Mikhail BakuninThe ultimate promise of blockchain technology and cryptocurrencies: the #decentralization of power. The vision was to give transparency, power, control back into the hands of the people. After all, this was born (just 3 weeks) out of the 2008 financial crisis where the culmination of years of abuse of power came to a tipping point. Big banks told us to “give us your money and just trust us”. We did, and we all paid for it.What happened: The creation of the most overvalued real estate market of the century driven by stated income loans. Insolvent banks. Then a $700 billion bailout. People made mistakes (read: committed (...)