The role of central government is increasingly under attack because Bitcoin could not be controlled or regulated by centralized governments, which spawned a community effort to build decentralized applications free from government control.
Source quote, verbatim
in the early 2020s, the Bitcoin cryptocurrency could not be controlled or regulated by centralized governments and has spawned a community effort to find more decentralized applications that are free from government control.
Wulf A. Kaal, Decentralization and Feedback Effects (2021). SSRN: https://ssrn.com/abstract=3808852
Holds when
as observed in the early 2020s
Classification
mechanismsupport: arguedtokenomics
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