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A comment on Web3 is centralized. Parent comment

Re:Web3 is centralized by ericd on Sunday January 02, 2022 @07:14PM (#29775683)
If I have a bunch of USD stablecoins, where do I turn them in to get paper USD?

If that’s even possible, is it to a single organization with 1:1 reserves in US treasury paper?

If so, how is that more “self-custody” than a bank?

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Re:Web3 is centralized by darawk on Monday January 03, 2022 @01:21AM (#29777921)
It's self custody in the sense that you can transact your representative tokens without consulting any intermediary, and without having to get anyone's permission.
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