As the crypto world evolves it becomes more complicated and complex - this is a good thing as it means progress is being made towards a decentralized future. However, one thing I have noticed is that there has become more focus from governments to regulate the whole crypto space. It is in their interests as they stand to lose billions if they dont keep an eye on where money is going and ensuring people are paying taxes.
I recently decided to power down some of my Hive and think about selling it for some FIAT. It astounded me that there was no real decentralized way to sell crypto for FIAT - defi is coming a long way, but seems to be only for trading crypto to crypto. What this means is that if you ever want to sell your crypto you arent really anonymous - these centralized exchanges run under know your customer (KYC) by law in most countries and require identity verification for you to sell crypto to FIAT - wheres the privacy in that??? Seems a step away from the original thesis of Bitcoin to me...
I am very optimistic that crypto and blockchain will be truly revolutionary and in the next decade many countries will decide to use crypto as their national currency. However, again although the code for these might be ´decentralized´ they will most probably be created by governments and thus will have their interests at heart. It might take a revolution of epic proportions where the people make the rules and stand up against government rule.
It seems that the crypto space has grown alot quicker than we had thought, and that becoming fully decentralized is not an option just yet - it might take a few years to get to this! Some people think that crypto will be the only form of currency in the future - it may well be, but in the meantime we need some way to securely and privately manage our assets. There is still a long way to go - some retailers are starting to accept crypto as payment now but it is far, far from being mainstream.
Just some random thoughts really and I would love to hear peoples thoughts on this!
