The function of cryptocurrencies is to decentralise irrevocable ownership, remove unnecessary middlemen and create substantial economic systems that decentralise value creation.
Otherwise, they are control tools.
#crypto #decentralization
From reinventing money to chasing after financial institutions to make profit off #bitcoin is a big change.
The bottom line is that bitcoin is changing.
A truly decentralised network should not evolve in such a way or need such measures in the first place.
For #crypto and #AI, lessons should be learnt for future networks. Bitcoin had much to teach. It brought impressive innovations by combining smaller pieces into a bigger whole and brought proof-of-work to represent money. From Hashcash to Bitcoin is a great leap in its own right. But also, the network is malleable to ownership and technical centralisation. That allowed the financial system to take ownership together with control.
Trading labour for a living is not a sustainable model any more. For everyday people to have an equitable future they must own equity in what generates income and wealth. Not sand in the wind but equity of tangible effects. That's what financial decentralisation is about.
#atomflow #crypto #decentralized_ownership
