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Topic
Board Economics
Re: Decentralized Economy: What is it for?
by
guoyu78
on 13/06/2019, 04:47:43 UTC


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)?
Decentralized economy?  It is just like you having a nation without law, I am not sure decentralization will ever work for economy, it is just best to stick with decentralized currency which will in turn help any economy than to talk of decentralizing economy. There cannot be decentralization without blockchain, and when it comes to blockchain, it requires the use of code to control things or make decentralization happen.

What code will be written to generally decentralize the economy or give people the full power to do whatever they like as regards economy without the government interference or control? Let’s not go this way at all.