When states and countries can just block your access to your bank accounts, because you're on the other side of interests, it gets...Interesting
With a decentralised approach, such actions would've needed to be implemented in the real world, not merely by the flick of a virtual lever.
Next it will be "but crypto will let you monetize your private data". Yeah no, it won't.
Say this is true, how amazing would that be for countries without existing banking infrastructure to easily access it?
This access is fast and cheap enough for unbanked people to access it.
These unbanked people would also have access to things like smartphones and computers because crypto doesn't exist in real world.
And yet those countries would not have banking infrastructure.
Nice. Nice.
Any such countries exist?
And that’s before we get to stuff like Luna, where the decentralised authorities took the centralised action of halting the chain entirely
Like them or hate them, I'm intrigued where the centralized line in the sand was crossed
But not so handy if you are an oligarch (or a dissident)
The validators of the Terra chain halted it. There's no switch that Kwon as an individual can flip.
There's no built-in way to verify that minted Tether can be verified to be backed. If there were, firstly there'd be no questions about the backing at all, it's all public on the blockchain, and second, it would revolutionary and actually useful to have a smart contract that can track real assets and not let them vanish from under it.
When we say Putin can press the red button obviously we don't mean a physical red button pressed by Putin himself. But he is the one coordinating.
