As cryptocurrency adoption grows, which model will become the norm: centralized or decentralized?
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Board Member, Advisor, Executive Coach in Software2 years ago
A distributed model has more to offer. Today's situation is crazy because you can use a distributed ecosystem and then go into a centralized location to hold your stuff. If you buy a bunch of Bitcoin and hold on Coinbase, you might as well just hold it at JP Morgan, which is fine because it’s now doing asset fund management. You will see that consumer users of technologies like this don't actually appreciate the value of the power you get from the distributed model.CEO in Software2 years ago
Many people underestimate the power of distributed, anonymous ecosystems. But if we look ahead to 20 years from now and think about how distributed blockchain-based technologies will enable multiple facets of our lives, it will be clear that we invented centralized organizations in order to create trust. A central bank, or any centralized organization, is meant to facilitate a process between multiple parties, so what happens when you no longer need that? What happens when blockchain enables us or, in some instances, even enforces us to trust each other? The system allows you to track everything, so it's a different story. What we see as the downside of an anonymous distributed system today, will be a feature that we’ll enjoy and celebrate in the future. Director - IT Infrastructure - Databases and eBusiness Specializing in Information Technology in Retail2 years ago
Centralized will be the norm going forward, It won't happen in the next few years, It will take around 5 years Regional Director in Education2 years ago
Decentralization with centralized regulation of at least from where the transaction is happening and for what is the best way.This will prevent illegal activities and fraud, while also respecting privacy.
Director of IT in Education2 years ago
Legislatures will pass legislation, or regulators will enact regulations, that require centralized systems that will allow for government oversight of cryptocurrency. This will allow collection of taxes directly from central crypto repositories rather than from the owner of the crypto. If the crypto holder is suspected of illegal activity, it will be a simple matter for the account to be frozen and all assets seized. It is much simpler to control and restrict the flow of crypto through centralized systems and that is what governments want and will mandate.