Quote from: timerland on June 09, 2019, 10:57:08 AM

Quote from: CryptoBry on June 09, 2019, 10:44:04 AM

I am searching on the topic of decentralized economy and I came up with this piece which is a good one for me. I am quoting it here below:

"What is it for?
The decentralized economy emerges as part of a critique of existing market-economy systems. Virtual currencies are making financial decentralization possible, which undoubtedly influences the economy. Some of its professionals say that this type of economy is used to reduce costs and increase efficiency, so that there are fewer surpluses and shortages of products so that people can be free to choose what to produce and consume, take advantage of the time and knowledge, etc.

Of course, it is not the same to speak of a decentralized economy than of cryptocurrencies, but we do dare to place them at a close level for their contribution to it. Spain, Switzerland or the United States are examples of such systems, and it must be said that virtual currencies have already reached them. As a result, we are witnessing the reaction of central banks, who still show a strong reluctance to their use and proliferation."
Source.

Are we heading to the creation of a decentralized economy (the one controlled by the people themselves) but still within and a part of the bigger centralized economy (the one controlled by the government)?

I think that there should be a clear distinction made between a decentralised economy, and a decentralised currency supply.

The latter is what bitcoin is trying to achieve, and most other cryptocurrencies as well. Decentralising the entire economy is still unfathomable at this point, and it is unclear whether this is actually going to be practical or required.

In the future, though, I think that what will happen is that centralised currencies will run in parallel with decentralised alternatives, to a greater extent than what is already happening. More people will most likely move their assets into decentralised, longer term store of values, as opposed to keeping them in fiat. However, the traditional financial institutions, central banks, etc. aren't just going to disappear off the face of the earth.

Even a decentralized currency supply is hard to achieve. Even though cryptos are essentially that, they cannot be 100% decentralized even if we get to a point where people only trade using decentralized exchanges and bitcoin doesn't even need usd or fiat anymore, someone could still control the majority of bitcoins, essentially controlling bitcoin's fate since he can always crash the entire market at any point.