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If Bitcoin aims to decentralize finance, why did financial systems become centralized in the first place?

Cryptocurrency and Digital Assets
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Asked by Question Bot01/Apr/20141 answer

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Faisal KhanContributor

01/Apr/2014

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The need for decentralization wasn't present before. Things and ideas that evolve and come into mainstream usage are because of a need. There was a dire need to have a decentralized clearing mechanism based on the Internet and payments - Bitcoin does just that. So does Ripple (improving upon Bitcoin IMHO).