Re: Crypto Regulation Does not take away the concept of Decentralization

Quote from: pawanjain on October 14, 2018, 11:12:32 AM

Quote from: solkinsolali on October 13, 2018, 01:50:48 PM

There has to be Global Regulatory Authority which all ICOs or crypto related project must pass due diligence test before even commencing any form of bounty and token sales.

Don't you think that the so called Global Regulatory Authority will then eventually take away the concept of decentralization ?
Only the people from the GRA will be able to pass an ICO which means it will be a centralized authority.
Also, it doesn't mean that if a GRA has approved an ICO to be launched it won't scam the people. The ICO can still scam the people anyway.

Even if they scam people they will surely end up rotting in jail because of the global regulations and the fang of law will be implemented unlike now there are a lot of Fake and Scam ICO's that are sprouting like a mushroom from nowhere to everywhere. If there is a global regulatory committee that regulates, checks KYC(Know Your Customer), authenticates identities of the persons involved in an ICO or fundraising the chances of the project to be become scam will be lessen and if ever they try to scam the investors of their project there is a high chance that the funds that have been jeopardized will be returned to the investors.

Quote from: solkinsolali on October 13, 2018, 01:50:48 PM

Only the people from the GRA will be able to pass an ICO which means it will be a centralized authority.

How the heck it will be a centralized authority? So do you mean that it is okay that those scam projects multiply all over the crypto space and scam a lot of investors? Huh