Introduction
The crypto sphere traverses a time of turbulence and innovation where something exciting happens every day. It is almost impossible to follow everything that happens since the development is like a comet.
Centralization is coming with a variety of projects that want to improve the economic system. The Swift system is obsolete, archaic, and it is very expensive to send money.
The rhetoric is that they fight the crypto realm but implement the blockchain technology behind the scene. This is hypocrisy from their part!
Crypto with decentralization in mind
The real innovation is the invention of Bitcoin and other cryptos that no government can control. It is a novelty idea that will reach the sphere of the mainstream population soon.
Power in place does not like the creation of people's money on the free market. Unfortunately for them, it's something they can not stop and all they can do is adopt regulations or ban them if they wish.
Even if they use those tactics, they cannot prevent the protocol from working. I believe the future of crypto is here to stay and will shine around the globe.
Decentralization with the central system in place!
Central powers and centralization of crypto
At the moment, we have a tendency of central powers to create their own blockchain and crypto. They promote it as a revolution but it is only a replica of what exists from the fiat system.
The fiat system is not good and robs the wealth of people with inflation and monetary policies. People want something different and an alternative to the current system.
Now they bring the false idea of innovation with the buzzword of blockchain technology.
Facebook Libra
You might have heard of this project with a huge userbase of 2.2 billion people around the world. The most popular social network on the globe as we speak.
They are now in the process of building the Libra, a central cryptocurrency that will be backed by stable assets. It is the first time that central banks react to this threat.
Central powers want to slow it down or put it illegal in some parts of the world. They don't like competition with their fiat money.
This is something that will be interesting to follow.
The Yuan crypto
The dream of China is to become the most powerful nation in the world. They know they need to innovate and embrace new technologies to stay ahead in the curve of power.
They are now embracing the blockchain revolution and we might see the Yuan crypto soon. This will be a centralized crypto and they will know everything you do.
It is not something I will use personally!
Conclusion
We see an emergence of centralized crypto like the Libra and Yuan that will make it easy to transfer money globally. The problem with those crypto is they are centralized and will be manipulated like their fiat counterparts.
In the meantime, decentralization will continue to rise and coexist with centralization. We are in the process to see an evolution of money with centralized and decentralized crypto.
It is an exciting time to be part of this evolution of money!
Chesatochi.com - For the love crypto
Posted from my blog with SteemPress : https://chesatochi.com/coexistence-centralized-decentralized-crypto/