How we got to the Decentralized Finance – the history starts with CypherPunk
At the beginning of June, Nick Szabo was a speaker at the 2021 Bitcoin conference that was held in Miami. He spoke about ‘The History of Money’, where he dwelled on the modern problems of the ‘regime’, that could be (in his opinion) fixed by Bitcoin.
He spoke about how we have already seen how Bitcoin solves numerous ‘fundamental’ shortcomings of ‘fiatist money’ and precious metals. It also solves all the trouble with custody and delivery of means, as the global network allows Bitcoin to be stored virtually ‘everywhere’ and be accessible ‘everywhere’. It also presents some good, and impossible to implement in the conventional banking, management practices. The most important flaw of the system is the expensiveness and the trust-validation, and Bitcoin brings also here some improvements. Crypto also allows the systems to get rid of the need to have coins or banknotes, which of course could be … Read more
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