- Oct 2021
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learn.diplomacy.edu learn.diplomacy.edu
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centralised financial systems
Centralised crypto platforms --- I'm not sure if the absolute privacy and reducing dependency as goals were achieved. Today ordinary citizens (not IT-tech experts) can buy crypto mostly on centralised institutional crypto-exchanges (as Coinbase, Etoro, Binance etc.) which in fact act as regular brokers with KYC processes and regulatory oversight, so basically nothing is private (to open an account you need ID/Passport/Address). Moreover, global banks started to buy/hold/ and trade with Bitcoin and stronger crypto-currencies, thus, in some way these banks (together with crypto-whales who hold large amounts of cryptocurrencies) "hijacked" the ideals for reduced dependency and alternative currencies - not controlled by institutions.
Source author: Vladimir Nikolov vladimir984@yahoo.com
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