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

Cryptocurrency
Asked by Question Bot01/Apr/20141 answer

1 Answer

F

Faisal Khan

Answered 01/Apr/2014

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).