Category Archives: Decentralization

Foundation Launches to Pioneer the Future of Decentralized Crypto Trading – The Defiant – DeFi News

Koszalin, Poland, March 18th, 2024, Chainwire

In a significant leap forward for the cryptocurrency trading sphere, Foundation has announced the launch of its groundbreaking decentralized exchange platform, blending the efficiency of Centralized Exchanges (CEXs) with the permissionless and transparent nature of Decentralized Exchanges (DEXs). Aimed at revolutionizing the on-chain trading experience, Foundation introduces an order book model that promises a lightning-fast trading engine capable of handling thousands of transactions per second and managing billions in daily trading volumes.

This innovative platform is set to redefine the standards of decentralized trading by offering a suite of features that includes a Unified Liquidity Marketplace, Maximum Transparency through its Exchange Explorer, a Permissionless framework for token listing, and Composability for developers to build advanced trading strategies. Furthermore, Foundation is expanding the horizon of crypto trading by supporting multiple asset classes, including cryptocurrencies, commodities, and forex through its perpetual synthetic trading engine.

As part of its roadmap, Foundation has successfully completed its "Ignition" phase, launching a prototype and undergoing extensive testing to refine its offering. Currently, in the "Orbit Preparation" phase, the platform has made the beta testnet version available, emphasizing the integration of key functionalities such as perpetual and spot trading, along with an innovative Engagement Points System to reward community participation.

Looking ahead, the "Liftoff" phase will see the mainnet launch, introducing full trading functionalities and marking a significant step towards decentralization, transparency, and openness. The final phase, "Deep Space Journey", is set to transform Foundation into an independent and sovereign blockchain, cementing its commitment to decentralization and the platform's longevity.

Originating from Level Finance, a robust oracle-based exchange with a remarkable track record, Foundation is built by a team of seasoned professionals. Their collective experience in both centralized and decentralized exchange development positions Foundation to significantly impact the cryptocurrency trading landscape.

Foundation emerges from the vision to create a comprehensive trading ecosystem that transcends traditional exchange models. By combining the best aspects of CEXs and DEXs, Foundation aims to provide a sustainable, efficient, and transparent trading platform. Its roots in Level Finance, with significant achievements in trading volume and community rewards, underscore its potential to redefine cryptocurrency trading.

For further information and media inquiries, users can contact:

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Media Manager John Johnson Foundation Network info@foundation.network

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Foundation Launches to Pioneer the Future of Decentralized Crypto Trading - The Defiant - DeFi News

DecentraShop: The Decentralized Alternative to Amazon – Cryptonews

In the realm of online shopping, DecentraShop stands out as a trailblazer, revolutionizing traditional e-commerce norms through innovative blockchain integration. Bridging web2 Brands & web3 users through seamless products listings & crypto-to-fiat swap, this groundbreaking platform is set to redefine the digital marketplace, prioritizing transparency, trust, and immersive shopping experiences.

DecentraShop operates on the principle that online commerce should be accessible, secure, and fair for everyone involved. By harnessing blockchain technology, the platform aims to transform the dynamics between buyers and sellers, fostering a community-driven environment where every transaction is rooted in engagement. With a focus on accessibility, security, and fairness, DecentraShop ensures a smooth experience for all users.

More than just a marketplace, DecentraShop is a comprehensive blockchain ecosystem built to cultivate trust and reward active community participation. Through its innovative loyalty program, powered by the DXS token, users not only enjoy enhanced shopping experiences but also play a direct role in shaping the platforms future. This unique economic model promotes governance, transparency, and engagement within the DecentraShop community.

To enhance scalability and lower transaction costs, DecentraShop plans to integrate Layer 2 solutions like Polygon. Additionally, the platform aims to incorporate various Ethereum Virtual Machine (EVM) networks and non-EVM options, offering users a diverse range of choices. Beyond facilitating transactions, DecentraShop seeks to revolutionize e-commerce by championing decentralization, transparency, and fairness.

As DecentraShop prepares for its beta launch, users are invited to join this transformative journey towards a more inclusive and responsible online commerce ecosystem. Supported by Ethereum and seamlessly integrated with Metamask and Coinbase wallets, DecentraShop promises a user-friendly experience for blockchain enthusiasts and novices alike.

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DecentraShop: The Decentralized Alternative to Amazon - Cryptonews

From Centralization to Decentralization: Bitcoin’s Impact on Digital Asset Storage – NewsWatch

In the realm of digital assets, Bitcoin, a groundbreaking decentralized digital currency, has spurred a transformative shift in storage methodologies. Its core tenets focus on trustlessness, transparency, and security, challenging conventional centralized models that have historically dominated the digital storage landscape. The transition from centralized to decentralized storage signifies a crucial juncture in the history of digital assets, necessitating a meticulous examination of the limitations inherent in centralized storage and the motivating factors behind the adoption of decentralized alternatives. Beyond technological advancements, Bitcoins influence extends to a broader societal change, marking an era where autonomy and security take precedence in the paradigm of digital asset storage. Amidst these shifts, it is crucial to navigate the evolving landscape wisely, considering options like the immediate-circuit.com trading system, which aligns with the principles of decentralized currency for individuals seeking a secure and autonomous approach to digital asset management.

Centralized storage systems, prevalent in the early days of digital assets, centralized control in the hands of a few entities. The evolution of centralized storage reflects the gradual realization of its limitations.

Centralized storage faces inherent challenges, including vulnerability to single points of failure, susceptibility to unauthorized access, and a lack of transparency. These issues have led to catastrophic failures and data breaches, underscoring the urgency for a more resilient solution.

Examining past incidents of centralized storage failures, such as data breaches and system downtimes, provides valuable insights into the consequences of relying on a centralized paradigm.

At the core of Bitcoins decentralization is blockchain technologya distributed ledger that records transactions across a network of nodes. This foundational concept forms the basis for a secure, transparent, and tamper-resistant digital environment.

Bitcoins blockchain operates as a decentralized ledger, where each transaction is verified and added to the chain through a consensus mechanism. This decentralized nature eliminates the need for intermediaries, enhancing security and fostering trust.

Decentralized ledgers offer robust security features, acting as a bulwark against hacking attempts and unauthorized access. The cryptographic principles underlying blockchain ensure the integrity and immutability of stored data.

Centralized storage systems are susceptible to various security vulnerabilities, ranging from data manipulation to targeted cyberattacks. These vulnerabilities compromise the integrity of stored information and erode trust.

Bitcoin, by leveraging decentralized ledger technology, addresses the security gaps inherent in centralized storage. Its cryptographic foundations and consensus mechanisms contribute to a more secure and resilient storage ecosystem.

Decentralization acts as a safeguard against unauthorized access, mitigating the risks associated with a single point of failure. This intrinsic security feature enhances trust in digital asset storage.

The landscape of decentralized storage solutions is evolving rapidly, offering alternatives to traditional centralized models. These solutions leverage peer-to-peer networks and cryptographic principles to provide secure and scalable storage options.

A comparative analysis of decentralized storage against traditional alternatives reveals the advantages of the former. Factors such as data resilience, accessibility, and censorship resistance contribute to the growing adoption of decentralized storage.

Despite the promising features of decentralized storage, adoption faces challenges, including regulatory uncertainties and integration complexities. Understanding these trends and challenges is crucial for navigating the decentralized storage space.

Bitcoins impact on digital asset storage has significant implications for financial institutions. The shift towards decentralization necessitates a reevaluation of existing storage practices to align with the principles of autonomy and security.

Businesses must formulate strategies to leverage the benefits of decentralized storage in the post-Bitcoin era. Adapting to this transformative landscape requires a proactive approach to ensure data security and regulatory compliance.

Navigating the decentralized storage landscape requires a nuanced understanding of regulatory considerations. Compliance with evolving regulations is essential for the seamless integration of decentralized storage solutions into business practices.

The decentralized storage landscape is poised for continuous evolution. Anticipating future developments, such as advancements in blockchain technology and integration with emerging technologies, is essential for staying ahead of the curve.

Despite the potential benefits, widespread adoption of decentralized storage faces challenges. Overcoming issues related to scalability, interoperability, and public perception is crucial for realizing the full potential of decentralized storage solutions.

The synergy between decentralized storage and emerging technologies, such as artificial intelligence and the Internet of Things, presents new possibilities. Understanding and harnessing these synergies will shape the trajectory of digital asset storage.

In conclusion, the transformative journey from centralized dominance in digital asset storage to the ascendancy of decentralization represents a profound shift. This retrospective underscores the significant impact of Bitcoin on shaping the digital storage landscape. Looking ahead, the enduring principles of Bitcoin hold vast implications for digital asset storage, pointing towards a future where security, autonomy, and trust redefine established norms in safeguarding valuable digital assets. In this context, a call to action is imperative, recognizing the ongoing evolution of digital asset storage. Continual exploration and adaptation are not merely advisable but essential for navigating the evolving terrain of digital storage. A proactive stance in understanding and implementing decentralized solutions is crucial for meeting the challenges and opportunities that lie ahead.

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From Centralization to Decentralization: Bitcoin's Impact on Digital Asset Storage - NewsWatch

SEC’s Hester Peirce wants more decentralization in the financial system – Cointelegraph

United States Securities and Exchange Commission Commissioner Hester Peirce has advocated for more decentralization in the U.S. financial system, along with a softer approach to crypto regulation and enforcement.

Peirce, also known as Crypto Mom, closed her fireside chat with CNBCs MacKenzie Sigalos at the ETHDenver conference on Feb. 29 by stating that decentralization benefits the U.S. financial system.

Centralization means that you have concentrated risks, she said before adding:

Peirce, a former lawyer, was appointed by former President Donald Trump to the SEC in 2018.She has been affectionately called Crypto Mom for her support of the industry and has often shown dissent against the over-regulation of digital assets.

Earlier in the talk, Peirce responded to questions about the proposed legislation that aims to treat decentralized technologies such as network nodes, validators, noncustodial wallets, mining pools and blockchain software as financial institutions.

It is troubling, said Peirce, who went on to say that there was still a lot of confusion over who has to register.

Sigalos also spoke about how the broker/dealer rule would redefine the classification of exchanges and could impact and encompass decentralized finance (DeFi), decentralized exchanges and developers, to which Peirce responded:

When you have people working together and someone interacting with code instead of with a person or entity, its a real challenge for the SEC to figure out what to do with that, she added.

She added that it wasnt even necessarily the SECs role to even get comfortable with crypto.

The SEC adopted rules on Feb. 6 that would require more market participants to register with it and comply with federal securities laws, bringing DeFi under greater oversight.

Related: Hester Peirce against gag rule, lawmakers challenging regulators

Peirce added that right now, the SEC is in enforcement only mode, but there need to be provisions to allow projects to grow and become decentralized without the threat of being sued.

The SEC commissioner also spoke about a wide range of crypto-related topics, including the agencys future following the U.S. presidential election later this year, spot Bitcoin (BTC)exchange-traded funds, and central bank digital currencies, coupled with the specter of state financial surveillance.

Magazine: Does SEC Chair Gary Gensler have the final say?

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SEC's Hester Peirce wants more decentralization in the financial system - Cointelegraph

Decentralized AI will play a pivotal role in shaping the future of AI – TechRadar

In the burgeoning field of artificial intelligence, the term 'decentralized AI' has emerged as a beacon of potential transformation. But what does this term truly encapsulate? At its heart, decentralized AI signifies a shift from the monolithic, siloed computational behemoths to a more distributed, collaborative approach. It's about leveraging open-source models and harnessing the collective power of GPUs scattered across the globe. This paradigm promises to democratize the creation and application of AI, making it more accessible and less reliant on the traditional bastions of technological power.

The concept of decentralized AI is not just a technological shift but also a philosophical one. It challenges the status quo of AI development, which has been dominated by a few large corporations with the resources to invest in massive data centers and computational power. Decentralized AI, on the other hand, is built on the idea of a shared, collaborative network where resources are pooled and accessible to anyone with an internet connection. This approach has the potential to level the playing field, allowing smaller entities and individuals to participate in AI development and benefit from its advancements.

However, the question arises: is decentralized AI genuinely decentralized, or is it a mere facsimile of the concept? While open-source models provide the foundation for this decentralized ethos, they often rely on synthetic data produced by their commercial counterparts, such as GPT. Moreover, the decentralized AI infrastructure typically operates on GPUs provided by a handful of centralized tech giants. There's also the need for a centralized entity to offer a user-friendly access layer, making the technology approachable for the general public. This centralization within decentralization presents a paradox that is as intriguing as it is complex.

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The reliance on synthetic data is a significant concern in the quest for true decentralization. Synthetic data, while useful for training AI models without compromising privacy, is often generated by algorithms that are proprietary and centrally controlled. This creates a dependency on the very systems that decentralized AI aims to move away from. To address this, there is a growing movement towards creating open datasets and using real-world data in a privacy-preserving manner, which could help reduce the reliance on synthetic data and further the cause of decentralization.

Despite these contradictions, the decentralization of AI comes with a suite of compelling advantages. The democratization of AI development is perhaps the most significant of these. Open-source AI fosters a more democratic approach to development, inviting contributions from a global community. This inclusivity accelerates innovation and introduces a plethora of perspectives that could potentially disrupt the dominance of proprietary models.

The democratization of AI also means that the technology becomes more reflective of the diverse global population it serves. With contributions from around the world, AI systems can be trained on a wider variety of data, reducing biases and improving their applicability across different cultures and contexts. This could lead to AI systems that are more fair, ethical, and effective, benefiting society as a whole.

The flexibility inherent in open-source AI paves the way for greater customization, allowing solutions to be tailored to specific needs. This adaptability is a stark contrast to the 'one-size-fits-all' approach often seen in proprietary solutions, offering a significant advantage to those seeking a more personalized AI experience. Customization is not just about tweaking the AI to suit different applications; it's also about empowering users to understand and modify the technology according to their values and requirements.

Community support and sustainability are other hallmarks of open-source AI. These projects often boast robust communities that provide support and expertise that can rival, or even surpass, the customer service of proprietary vendors. The community-driven nature of open-source AI not only ensures its long-term sustainability but also fosters continuous improvement, independent of any single company's financial health.

The sustainability of open-source AI projects is closely tied to their community support. A vibrant community can drive the project forward, ensuring that it stays up-to-date with the latest advancements and adapts to changing needs. This is particularly important in the fast-paced world of AI, where new breakthroughs are made regularly. Open-source projects that can harness the collective intelligence of their community can evolve more rapidly and effectively than those that rely on a centralized development team.

Open-source AI also has profound ethical and societal implications. By facilitating community audits and challenges to unethical practices, open-source AI promotes a more ethical development process. In contrast, proprietary solutions may not be as transparent, leading to potential ethical concerns that are harder to address. The open nature of these projects means that anyone can examine the code and the data used to train the AI, providing an opportunity for scrutiny and accountability that is often lacking in proprietary systems.

The role of open-source AI in education and research cannot be overstated. These tools are indispensable for educational purposes, allowing students and researchers to explore and experiment without the burden of financial constraints. The result is a more skilled workforce, equipped to contribute to the AI field and challenge proprietary AI solutions. Access to open-source AI tools can transform education, enabling a hands-on learning experience that prepares students for the real-world challenges they will face in their careers.

In conclusion, while centralized AI has paved the way, the future shines brightly for open-source AI. Much like the evolution seen in traditional software development, open-source AI is poised to provide a burgeoning ecosystem of robust, reliable tools. This shift towards a more open, collaborative approach to AI development promises to unlock new possibilities and drive innovation in ways we are only beginning to imagine. As we stand on the cusp of this new era, it is clear that decentralized AI will play a pivotal role in shaping the technological landscape of tomorrow. The potential for decentralized AI to empower individuals, enhance global collaboration, and promote ethical practices makes it a truly transformative force in the field of artificial intelligence.

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SPONSORED POST: Bitcoin: A Spark of Decentralization And Individual Freedom In The Digital Age – SaharaReporters.com

In the ever-evolving landscape of technology and finance, Bitcoin stands as a beacon of a new paradigm: a decentralized, digital currency challenging the status quo of traditional financial systems. Its emergence has sparked fervent debate, captivating supporters with its promises of individual empowerment and freedom, while raising concerns from established institutions wary of its disruptive potential. This essay delves into the core of Bitcoin's essence, exploring its role in promoting decentralization and individual freedom, and highlighting the complexities and nuances surrounding its impact.

The very essence of Bitcoin lies in its decentralized nature. Unlike traditional currencies controlled by central banks and governments, Bitcoin operates on a peer-to-peer network, where transactions are validated and recorded on a public ledger known as the blockchain. This eliminates the need for intermediaries, empowering individuals to hold and manage their own finances without relying on traditional gatekeepers. This decentralization translates to several benefits:

Censorship resistance: Transactions are virtually impossible to block or manipulate, safeguarding individuals from financial censorship exercised by governments or institutions.

Transparency: All transactions are publicly viewable on the blockchain, promoting accountability and reducing the risk of fraud.

Resilience: No single entity controls the network, making it resistant to failures or attacks on any specific node.

These features empower individuals, fostering a sense of financial freedom previously unimaginable. Users gain control over their wealth, free from the limitations and restrictions imposed by traditional financial systems. They can send and receive funds globally without intermediaries, transact privately or pseudonymously, and store their wealth independently of any central authority.

However, Bitcoin's impact is not without its complexities. While decentralization brings benefits, it also presents challenges:

Volatility: Bitcoin's price fluctuates significantly, making it a risky investment and potentially unsuitable for everyday transactions.

Scalability: The current network faces limitations in transaction processing speed, hindering its widespread adoption for mass payments.

Environmental impact: Mining Bitcoin requires significant energy consumption, raising concerns about its sustainability.

Furthermore, the decentralized nature poses regulatory headaches for governments accustomed to controlling traditional financial systems. Concerns surrounding illegal activities and the potential for financial instability have led to varying degrees of regulation and scrutiny aimed at Bitcoin and the broader cryptocurrency space.

Despite these challenges, Bitcoin's influence on the evolution of finance and technology is undeniable. It has ignited a global conversation about decentralization, individual freedom, and the future of money. As the technology matures and solutions to its shortcomings emerge, Bitcoin's potential to reshape the financial landscape and empower individuals remains significant.

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SPONSORED POST: Bitcoin: A Spark of Decentralization And Individual Freedom In The Digital Age - SaharaReporters.com

Decentralized Wallets and Centralized Security Measures: Scams and Errors Still Prevalent – CCN.com

Key Takeaways

Decentralized Financeis facing a crucial question: Should there be a system of centralized security checks to mitigate the risks of scams and human error?

This debate is gaining traction as more users fall prey to sophisticatedscamsthat could not have been stopped without external warnings.

A recent incident involving an investor who escaped a Rabby_io scam has sparked discussions on social media. The investor said that due to a timely warning by Rabby.io, the person could evade losing money. While others couldnt.

A fake version of Rabby Wallet surfaced on the Apple App Store recently. While it masqueraded as a legitimate application, Apples screening processes failed to catch it.

A user explained that a warning post by Rabby Wallet helped the investor safeguard its funds before it was too late. Meanwhile, MetaMasks lack of alerts ignited a broader debate on security measures in decentralized finance (DeFi).

This oversight led to users reporting the loss of tokens as a reminder of the vulnerabilities in the current system. The incident not only questions the reliability of marketplace firewalls but also whether DeFi applications require constant monitoring and flagging by issuers or users to ensure investor safety when centralized security has not been put in place.

Just as users reported the Rabby Walletscam, Curve Finance issued a cautionary message about a fraudulent app bearing its logo on the Apple App Store. Users who couldnt see the post might have lost funds to the scam application.

Decentralized exchange FixedFloat is another victim of a recent exploit. Initial reports suggest that hackers swindled millions in Bitcoin and Ethereum. FixedFloats acknowledgment of the hack came after users flagged abnormal blockchain activity. Emphasizing that current practices may be insufficient within the industry.

Chainalysis previously cited Mar Gimenez-Aguilar, Lead Security Architect and Researcher at Halborn, noting the threats of on-chain and off-chain vulnerabilities. Gimenez-Aguilar pointed out that many compromised smart contracts either skipped audits or had inadequate ones. Therefore, there is a need for improvement in both the design and external security practices surrounding blockchain, as per security experts.

Decentralized wallets continue to grow in popularity. While the onus to be safe from inherent security risks currently lies on the users. The incidents involving Rabby Wallet and FixedFloat, among others, serve as a reminder of the challenges as the market continues to expand.

The debate over implementing centralized security measures within a decentralized framework might not be taken well by many community members. But, maintaining the ethos of decentralization while ensuring the safety of participants might not have an alternative.

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Can Decentralized Finance Replace Traditional Payments – The Daily Hodl

HodlX Guest PostSubmit Your Post

Theres a lot of talk about DeFi (decentralized finance) these days.

If one were to believe all the hype, it would seem that DeFi is a foregone conclusion its not a matter of if complete decentralization will happen, but rather a matter of when.

Admittedly, it does appear that things are heading in that direction. The potential, the market need and the technology are all there.

While some infer that we could make the switch right now, thats beyond optimistic.

Its true that decentralization is dependent on blockchain technology, and youd be hard-pressed to find people who will argue that blockchain doesnt work.

Even naysayers, when pushed, will concede that the technology itself is solid and has the potential to disrupt finance as we know it.

But just because blockchain technology has proven itself doesnt mean that DeFi is a necessary inevitability.

DeFi will almost certainly play a role in the future of finance. But I can see at least three major roadblocks that need to be overcome before DeFi has a chance of overcoming traditional payments.

Consumer buy-in and trust

Our current centralized systems have been in place for a long time. Theyre accepted because theyre familiar and for the most part, they work very well.

People are resistant to change, particularly when they dont see a clear benefit.

Even when shown the upsides, many will distrust a new way of doing things, taking refuge behind an if it aint broke, dont fix it mentality.

One of the chief arguments for DeFi is that it removes the middleman. But that doesnt take into account that some people would rather pay a third party to perform a service.

We generally accept that like attorneys or CPAs financial professionals know more than we do about their specialty and will do a better job.

More importantly, when professionals provide a service, they also take on the accompanying risk.

Consumers will be even more hesitant to accept a new system if it also means losing protection and accepting liability.

This was effectively proven at the dawn of the credit card age. Payment card usage did not gain wide-scale acceptance until 1974, when stronger consumer protection mechanisms were put in place.

Acceptance increased once consumers knew they had a safety net if they were scammed or defrauded.

Even then, though, it still took decades for credit cards to become a dominant payment preference.

People needed formalized assurance that card payments worked across the board. That required at least some degree of centralization, as would any consumer protections used with DeFi.

Banks and financial institution acceptance

Financial organizations are understandably dragging their feet over a move to DeFi.

Our existing banking model is deeply rooted in the most basic tenet of capitalism being paid to perform a service. In this case, arranging financial transactions on behalf of the customer.

As weve seen, decentralization empowers users to do the work without a go-between, and consumers may not go for that. For the financial industry, however, DeFi could be devastatingly disruptive.

Services that are currently integral to their business could become obsolete, meaning banks stand to lose the biggest revenue source they have.

DeFi could also potentially expose financial institutions to increased fraud risk.

Currently, US banks are legally required to use KYC (know your customer) protocols to identify the individual attached to a transaction.

That wont work with blockchain in a completely decentralized blockchain system, users can remain strictly anonymous.

If actual names and other personal information arent used, its exponentially more difficult to determine if people or organizations are engaged in illegal activity.

Money laundering, market manipulation and bank fraud are serious concerns.

Thats something that could impact the institutions in question, as well as the account holders and merchants they work with.

Lack of clarity regarding government oversight

While proponents of DeFi like to emphasize the absence of government regulations, thats actually one of the challenges in achieving wide acceptance.

Without a centralized system, legislation like the aforementioned KYC rules would be nearly impossible to enact. To some, that may sound like a feature, rather than a bug.

However, legislators are not going to see the situation in the same light.

The same goes for any government mandates and agencies that protect consumers, including the FDIC (Federal Deposit Insurance Corporation) and even the government itself could be a target.

Since transactions are extremely difficult to trace to an individual, it would theoretically be simple for a person to understate the amount of taxes owed or avoid paying them altogether.

Faced with the likely increase in criminal activity and an associated drop in government revenue, oversight legislation is almost inevitable. That means at least some centralization will be mandated.

So, finance can only really be as decentralized as lawmakers will allow it to be, and its unclear how they will respond.

DeFi and CeFi (centralized finance) can this be a yes, and? situation

None of this means DeFi isnt viable. Rather, it means that some amount of centralization is probably necessary to make it work on a wide scale.

And in fact, were already seeing de facto centralization popping up, even in arenas considered fully decentralized.

Stable coins, for example, remain stable by requiring a centralized issuer who backs sales by legal tender.

CBDCs (central bank digital currencies), while controversial, are still in the works. Even Bitcoin mining is seeing centralization become a point of contention in the community.

That may be splitting hairs, as far as what we call centralization, but the crypto market is growing. The bigger it gets, the more likely well see centralized regulation from FIs, the government or both.

Well also see combined efforts to sell the benefits of crypto to the public.

Individual brands will promote themselves, naturally, but advertisers, marketers and even lobbyists will recognize that selling the entire concept will also be necessary.

It would be hard to do that effectively without centralization. Again, that doesnt make DeFi a complete impossibility.

The two systems are in competition, to some extent, but they are not mutually exclusive.

DeFi and CeFi striking a balance

As convenient as it may be, trying to characterize this issue as a good guys versus bad guys battle isnt in our best interest.

Neither centralization nor DeFi are inherently bad.

One could argue that it would be easier to stick with the traditional way of doing things, but that genie is already out of the bottle.

Going backwards isnt really an option, even if fully realized DeFi is unlikely to materialize.

The next generation of development, DeFi 2.0, is already addressing some of the challenges of decentralization, including scalability and seamless cross-chain interoperability.

But widespread acceptance is still a ways away.

There are multiple layer two solutions, and as with any decentralized service, that raises questions as to how well they work and how safely any given code performs.

Can we have two competing ecosystems existing side-by-side? Probably not indefinitely one or the other would eventually triumph.

But a better question might be why would we want to?

DeFi is going to continue to evolve in parallel to traditional payments. It would make sense to eventually work toward a single, fully realized solution that combines the best elements of both models.

A payments ecosystem that benefits from the speed, privacy and egalitarian ethos of DeFi, with the security and institutional legitimacy of TradFi (traditional finance).

The trick is to pull this off without losing sight of the main goal safe, secure transactions, high efficiency and enhanced customer experience.

The future of DeFi will depend on how we strike that balance between maximizing benefits and still enjoying the protections of centralization.

Monica Eaton is the founder and CEO of Chargebacks911. This risk mitigation firm protects more than two billion transactions annually to help online merchants optimize profitability through dispute management. Monica is a globally recognized speaker who has shared her insights on technology, finance and entrepreneurship with audiences around the world.

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Can Decentralized Finance Replace Traditional Payments - The Daily Hodl

Gary Gensler Says Bitcoin Is Token of Choice for Ransomware and Not That Decentralized – The Daily Hodl

The Chair of the U.S. The Securities and Exchange Commission (SEC) says Bitcoin (BTC) isnt as decentralized as the public believes.

In a new interview on CNBC, Gensler says the top crypto asset by market cap is not that decentralized, partially due to the prominence of centralized crypto exchanges.

[Bitcoin] is not that decentralizedlook at how finance tends toward centralization since antiquity. What do we have? We have a handful of three to six core so-called crypto exchanges.

Bitcoin is sold on crypto exchanges around the world, and its not clear how that has anything to do with Bitcoins decentralization.

The networks decentralization stems from Bitcoins underlying blockchain technology, which is a distributed ledger managed by a network of computers (nodes) spread across the globe, with no single entity in control.

Backing up JPMorgan CEO Jamie Dimon, who said last month that Bitcoin was a pet rock with a main use case of helping criminals perpetrate illicit schemes, Gensler also says BTC is the token of choice for ransomware.

[Bitcoin] is the leading market share in ransomware, and thats publicly known. Its the token of choice for ransomware.

The US dollar, the euro, the yen you have the whole [of] society using [them] as a medium of exchange, we buy our cups of coffee, we get paid in dollars or yen or euro and you have a whole central bank and support for one currency, generally, per economic region.

That, we dont have here, so there is a very real economic difference

According to Gensler, Bitcoins transparent ledger gives off the impression that its more decentralized than it actually is, and should not be cited as a reason to invest in BTC.

How many times do you have people on this show that say Im going to invest in something because of how the books and records are kept Its just an accounting ledger. A clever [one].

Bitcoin is trading for $51,699 at time of writing, a 6.5% gain during the last 24 hours.

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Gary Gensler Says Bitcoin Is Token of Choice for Ransomware and Not That Decentralized - The Daily Hodl

The Advantages of DAOs over centralised Organisations | by Genesis DAO | Feb, 2024 – Medium

If youre considering founding an organization, youre likely facing a myriad of challenges. From decision-making bottlenecks to concerns about transparency and inclusivity, the traditional centralized organizational model often presents more hurdles than solutions. However, theres a transformative alternative on the horizon: Decentralized Autonomous Organizations (DAOs). In this blog post, well explore the advantages of decentralized organization and why embracing decentralization through DAOs can revolutionize how we collaborate and innovate.

Empowering Participation In a centralized organization, decision-making power is concentrated in the hands of a few individuals or a single entity. This can lead to limited input from stakeholders and a lack of representation for diverse perspectives. In contrast, DAOs empower every participant to have a voice in decision-making processes. For example, in a DAO governing a community garden project, members can use tokens to vote on which crops to plant, ensuring that decisions reflect the collective preferences and expertise of the entire community.

Enhancing Transparency and Trust Centralized organizations often struggle with transparency, leading to distrust among stakeholders. DAOs leverage blockchain technology to create transparent, immutable records of all transactions and decisions. This transparency builds trust among participants, as they can verify the integrity of the organizations operations in real-time. For instance, in a DAO funding environmental conservation efforts, donors can track how their contributions are being allocated and the impact theyre making, fostering greater confidence and accountability.

Reducing Single Points of Failure Centralized organizations are vulnerable to single points of failure, where a disruption or failure at the top can cascade down and disrupt the entire organization. DAOs distribute decision-making authority across a network of participants, reducing the risk of catastrophic failures. For example, in a DAO managing a decentralized ride-sharing platform, no single entity controls the platform, mitigating the risk of regulatory crackdowns or corporate malfeasance.

Fostering Innovation and Adaptability Centralized organizations often struggle to innovate and adapt to changing circumstances due to bureaucratic processes and hierarchies. DAOs enable rapid experimentation and innovation by providing a flexible framework for decision-making and resource allocation. For instance, in a DAO supporting open-source software development, contributors can propose and vote on new features or enhancements, allowing the project to evolve organically in response to user feedback and technological advancements.

Aragon: Aragon is a decentralized platform that facilitates governance for organizations. It enables individuals worldwide to participate in decision-making processes without traditional hierarchies. Through Aragon, organizations can govern themselves autonomously, ensuring inclusivity and transparency in their operations.

MakerDAO: MakerDAO is a decentralized lending platform built on blockchain technology. It allows users to borrow and lend digital assets without the need for intermediaries. MakerDAOs transparent governance and smart contracts ensure trust and accountability, making it a trusted platform for decentralized finance (DeFi).

Ethereum: Ethereum, often referred to as a decentralized autonomous organization itself, is a blockchain platform that enables developers to build decentralized applications (DApps) and smart contracts. Its decentralized network of nodes ensures that no single entity has control over the platform, fostering innovation and resilience in the blockchain ecosystem.

Augur: Augur is a decentralized prediction market platform that allows users to create and participate in prediction markets on various outcomes. By leveraging the wisdom of the crowd, Augur enables decentralized decision-making in forecasting and betting without relying on a central authority.

These examples demonstrate the real-world success of decentralized organizations in reshaping industries and empowering individuals to collaborate and innovate in unprecedented ways. Through decentralization, these organizations overcome the limitations of centralized models, fostering transparency, inclusivity, and resilience in their operations. Decentralized Autonomous Organizations offer a compelling alternative to traditional centralized organizational models, empowering participants, enhancing transparency, and fostering innovation. By embracing decentralization through DAOs, we can unlock new possibilities for collaboration, governance, and value creation, ushering in a future where organizations are truly decentralized, transparent, and resilient.

We at the Genesis DAO project not only want to continue sharing knowledge about DAOs and decentralisation in general, but also offer users a platform that allows them to easily build their DAO. If you want to stay tuned, feel free to follow @GenesisDAO_org on Twitter, YouTube or TikTok, where we now also share our blog post topics as informative videos!

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The Advantages of DAOs over centralised Organisations | by Genesis DAO | Feb, 2024 - Medium