Crypto Why Decentralisation Is The Decent Thing To Choose
Crypto currencies currently are, for the most part, the complete opposite of a centralised banking systems. Visible ledger, trustless transactions, blockchain security (verifications on the blockchain act as a form of transaction security) all offer the ordinary person in the street the opportunity to have secure, private(ish) transactions and management of their own funds.
Autonomy a form of freedom from fiat banking systems?
Yes and no, potentially crypto currencies CAN offer freedom from a system of banking that offers little visibility and is thought by many to ‘rip people off’. Just look at the average banks transaction and hidden fees for currency conversion and you will see what we are saying. Banks often set their conversion fees at the beginning of the day, heavily in their favour and, to add insult to injury add a transaction fee on top of the hidden gains they already make on the conversion rate they offer.
What cypto could offer is the ability to connect directly with others and cut out the middleman, giving a fairer society for all. Everything depends on whether moves are made to legislate control of cryptocurrencies. Just like in the days of the wild wild west of internet freedom, before control mechanisms were in place, we are either staring down the barrel of a shotgun, or we are holding the trigger that changes the world.
Centralization is actually a threat to cryptocurrency. I wrote about it a few days back. Being able to bank without a bank is powerful. The #1 Taxi company, Uber, owns zero cabs. The #1 retailers, Amazon and Ali Baba, own zero stores. The #1 hotelier, Air B-n-B, owns zero real estate. We can do this with the banks, but there will most likely be moves to suppress by big actors.
Having a fair system of wealth distribution is hopefully one of the things that decentralisation can help achieve. The current system rewards the few and penalizes the many, not good, not fair, and hopefully not going to be around much longer