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Since the very first transaction on Bitcoin, the first Distributed Public Ledger, a decade ago, decentralization has evolved beyond the expectations that even cypherpunks had for it. Decentralization, apart from enabling digital transactions between parties without the need to trust a central authority, has enabled automation of financial agreements between parties, digital crowdfundings, tokenization of “real world” assets, creation of digital assets and many more, all of them in a decentralized fashion. All these innovative new ways to expand the value proposition of Distributed Public Ledgers has not been without a struggle.
Societies cannot thrive without Technology and Technology cannot thrive without Societies. And for that reason there are regulations from every jurisdiction around the world, that try to adapt all kind of Technologies to the standards of each Society. It happened with the proliferation of the Internet before, it’s happening right now with the proliferation of Distributed Public Ledgers. These regulations are introducing friction to Distributed Public Ledgers, but it’s a friction that we need to embrace and do our best to make it less painful.
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