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A comment on Tether ordered to produce documents showing backing of USDT [pdf]. Parent comment
That's because technological decentralization is much easier with political centralization.
But technological and political decentralization together is incredibly difficult.
In my experience, federated systems are more practical than decentralized systems and provide 98% of the benefits.
I agree that cryptocurrency is not necessary (or ideal) for either.
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That's because technological decentralization is much easier with political centralization.
But technological and political decentralization together is incredibly difficult.
In my experience, federated systems are more practical than decentralized systems and provide 98% of the benefits.
I agree that cryptocurrency is not necessary (or ideal) for either.