Since the very first Bitcoin transaction, decentralized systems have evolved beyond the expectations of even cypherpunks. Decentralization not only enables digital transactions without the need for a central authority, but also automates financial agreements, allows for digital crowdfunding, tokenization of “real world” assets, creation of digital assets, and more in a decentralized fashion. Despite these innovative advancements, decentralization has faced its share of struggles.
Technology and society are interdependent; regulations from every jurisdiction around the world aim to adapt technology to the standards of society. This happened with the proliferation of the Internet and is happening now with Distributed Public Ledgers. Although these regulations introduce friction to decentralized systems, it is a friction we must embrace and strive to mitigate.
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