Disrupting the Status Quo: Why Decentralized Blockchains like Hive are Key to a Better Future

Twitter has been making strides into the cryptocurrency industry for a while, with the social media giant applying for regulatory licenses to enter the US payments business. The move comes as Twitter aims to offer more financial services to its users, including the ability to buy and sell cryptocurrencies directly on the platform.

Fiat first, though, as per the quoted article. The rumors surrounding Twitter and a potential future feature making payments and money transfer possible within the app(crypto included) is not something we haven't discussed already. I have dedicated a couple of posts to this topic already and always pointing out in my articles the fact that whatever Elon Musk is planning to make out of Twitter, Hive already is.

At the same time, the Central Bank of Montenegro has partnered with Ripple to develop their national cryptocurrency, the CBDC, and Ripple is probably the best candidate for that, you can't get more centralized than Ripple ;). This move shows the growing interest from traditional financial institutions in the potential of digital currencies(not necessarily cryptocurrencies) and blockchain technology(not necessarily decentralized blockchains).

Meanwhile, New York State has taken a step towards cryptocurrency adoption with the introduction of a new bill that recognizes the importance of digital assets in the financial landscape. The bill seeks to create a regulatory framework for cryptocurrencies, aiming to protect consumers(according to their take) and provide a level of clarity for businesses operating in the crypto space.

The state of New York has announced a new bill that would allow agencies to accept cryptocurrency as a form of payment for fines, civil penalties, taxes, fees, and other payments charged by the state.

More specifically, the bill allows state agencies to enter into “agreements with persons to provide the acceptance, by offices of the state, of cryptocurrency as a means of payment” for various types of fees, including “fines, civil penalties, rent, rates, taxes, fees, charges, revenue, financial obligations or other amounts, including penalties, special assessments and interest, owed to state agencies.” source

And the good news doesn't stop here...

German banking giant DekaBank will offer Bitcoin and crypto to 1.5m retail customers and +500 institutional clients. DekaBank manages $428 Billion in assets while the total market cap for Bitcoin is currently $441 billion. Isn't that the mass adoption we all wanted? Institutions putting their dirty hands in "the pants of Bitcoin" and make it moon?!...

Well, yes and no... I don't know how mass adoption is looking on your side of the spectrum but on my side is more like what Hive does which favors privacy(to some extent), leaves room for growth and almost infinite expansion for developers, has insane transfer speeds with zero costs/fees, empowers its users no matter their geolocation, it is absolutely censorship-free and totally out of the hands of the governments.

Hive is as decentralized as decentralization allows ;). Not trying to make any comparison here between Hive and Bitcoin, but more looking at putting Hive side by side with the broad mass adoption that we have seen so far for Bitcoin and crypto. It is amazing that none of these outlets talking New York, Twitter, crypto payments, and so on and so forth mention anything about Hive or HBD. I'm probably not the best person to brag about that. @taskmaster4450 and @theycallmedan do a better job at that than I do.

And...

While all of the news from above have so much audacity for crypto newbies, I'm personally not impressed at all about such endeavors because I see their roots. It's nothing more but a reflection of more centralization over the money supply(crypto included) coming from the financial moguls. Decentralization is the panacea we desperatley need and blockchains like Hive play an important role in that march... But we've somehow lost ourselves on the way to the Bitcoin store...

What do you think?

Thanks for your attention, Adrian

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