FTX Saga: Crypto Was Never Designed To Be Centralised.
The events happening around the crypto space in the past few months just makes the us come to the realisation that cryptocurrencies weren't meant to have anything to do with centralisation or centralised platforms. Yeah, a couple centralised platforms have proved helpful over the years trying to help with the transition from traditional/ conventional finance to cryptocurrencies but the negative impacts so far have been outrageous.
Lately, I read an article about some countries trying to create their own crypto/ digital currency but this would be centralised and they can seize it they want or allocate it to who they think
deserves it. Sounds like a good move towards digitisation of money but still centralised and a big no for me.
Crypto was designed to give freedom and Bitcoin itself was particularly designed to eliminate third parties. Trying to control or take charge of cryptos you don't own is one of the biggest problems the crypto space is facing right now and sometimes, I ask if we really need exchanges to be structured in the current way they are and if we need people/ groups creating cryptos they still have some form of control over in the long run.
How could the crypto space be structured in such a way that people still have full control over their funds while still trading with others staying safe and taking full advantage of teh opportunities crypto presents. Perhaps events like the FTX crash has made people begin to ponder on questions like this and hopefully in the nearest future, all forms of centralisation within and around the crypto space will be eliminated because they're in fact slowing down the development and making a chaos of the crypto space
