Post
Topic
Board Bitcoin Discussion
Re: Are we not abusing decentralization?
by
reality18
on 24/05/2019, 03:10:46 UTC
Decentralization is one of the greatest dreams of Satoshi looking at the how the blockchain technology and its immutable distributed ledger has been designed. Well it saddens my heart that the greed of men has led to the abusing of this freedom and liberty that Satoshi wanted us to have in the financial industry. Look at the way people are being scammed and robbed in broad day light just because crypto is embedded in anonymity and decentralization. I think we've all had it to the peak, how about we have some level of regulation with the activities in the crypto industry. Share your thoughts commrades.
Decentralization is a broad topic which is practiced not only in crypto. Perhaps, OP should have narrowed the concern down to either the abuse of cryptocurrency or Blockchain. Scammers are taken advantage of the idea that crypto is a free market without any centralized authoritative body keeping checks on transactions and the entities behind transactions.
This is why each investor must assume full responsibilities of every action undertaken because it requires extensive research into projects in order to ascertain the authenticity, capabilities and potentials of the project or coin before investing or joining the project.
With time the level of scam projects will reduce because many platforms and exchanges are putting measures in place to check for the true identity of participants through KYC and AML.