Coexistence of Centralized and Decentralized Crypto

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(Edited)

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 The Swift system is obsolete, archaic, and it is very expensive to send money.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/

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17 comments
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Nice post. There will always be a great debate between centralized v decentralized. Interesting times ahead. If anything these centralized crypto will being decentralized into the public eye 😁

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Centralized crypto is doomed. It would be an irresistible Mother Of All Targets for the best hackers on the planet.

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To listen to the audio version of this article click on the play image.

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Hi, @chesatochi!

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Greetings dear friend @chesatochi.

We cannot underestimate the ingenuity of certain successful entrepreneurs who have taken advantage of the positive aspects of products that have already proven their effectiveness in the market and have applied them in their own initiatives or ventures.

Creating a hybrid using the decentralization of the blockchain and the centralism of the traditional fiduciary system, is something like making you a tailored suit.

I don't want to sound prophetic - apocalyptic, but this coexistence (Libra - Yuan - Blockchain) can trigger a new way of domination and control of the masses.

Your friend, Juan

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I understand your concern but this is something that will happen. We have the choice to choose the decentralized ones. ;)

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I would do it.

In another order of ideas and considering the fact that I follow your publications for some time I would like to convey some ideas, if you allow me.

Would you mind if I share with you some details about our nonprofit initiative based on STEEM Blockchain: "Project Hope" (@project.hope)?

Together with @crypto.piotr I've been working on it for few months already and recently we've launched our website. It's still kind of a "construction zone" :)

If you think so, could check it out: https://www.projecthope.pl/

You may find section "passive income" particularly interesting. Please, check it out and let me know what do you think. Your opinion would be a gold mine for me.

Your friend, Juan

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(Edited)

Your passive income section is limited by steem delegation on the steem blockchain?

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Limited? I don't understand precisely what you ask me brother.

Maybe you can find answers in the latest publication of @project.hope and @crypto.piotr.
I recommend you check these posts .

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Hi @chesatochi I found your post very interesting.

I only thought about adding together with the Facebook LIBRA the Telegram GRAM Project, which is also a blockchain proposal with a private cryptocurrency.

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