Daniel Jeffries, an expert and visionary, thinks that centralizing cryptocurrencies is a matter of time, quoting "Blockchain is an invention of the Gutenberg press, but it is still at an early stage of development." Centralized cryptocurrencies are a matter of time In 20 years their national versions will be an absolute standard.
At the beginning you have to ask yourself what Blockchain is
"Blockchain or block chain (sometimes also block chain) - a decentralized and distributed database in the open source model in a peer-to-peer (P2P) internet network without central computers and without a centralized data storage space, used for posting individual transactions, Payments or journal entries encoded using cryptographic algorithms In fact, blockchain is a specific decentralized and distributed transaction register, or, in other words, it is a decentralized transaction platform in a distributed network infrastructure Blockchain is a public and public register that anyone can access "
- China and Israel are working on their own, centralized cryptocurrencies and it is naïve to believe that they will not become a valuable means of payment. They will rather function next to decentralized cryptocurrencies, which are a kind of security. Centralized digital money will have a lot of disadvantages, such as tracking all transactions by the state, which compromises the privacy of their users. In such a system you can simply delete money from someone's account, and these will disappear without a trace - adds Jeffries adding adding that "for a maximum of 20 years, national cryptocurrencies will be an absolute standard."
- People always want to dominate others and each time the result is the same: a sick society, economy and business. All the bad things that happened in the history of mankind took place because a man or group of people began to dominate the rest. Decentralized technologies reverse this situation, making everyone want to play for one goal. If we all make a decision, and not only people on the top of the pyramid, we will take them in a way that will benefit the entire community. It is not utopia, blockchain provides such mechanisms - added Jeffries. In his opinion, the blockchain will make significant changes in the global economy by introducing a large number of new players to the so-far world of big business.