How Bitcoin started the decentralized era
Do you wonder how Bitcoin started a new era in finance? It is pretty simple. Bitcoin proposed the radical notion that we don't need centralized authorities controlling vital social systems. One of the biggest issues of the modern era is how small groups have taken up power over systems like money, which was basically impossible before central banks existed.
Instead of using fiat currency, which can be created and spent by the centralized authorities, Bitcoin encourages the use of honest money that is totally open to public inspection. While Bitcoin does offer some amount of privacy, all the transactions can be inspected on the blockchain.
In a centralized financial system, the public has little, if any, oversight, and this leads to abuses of power. Economies work better when money is sound, and can't be created at will. Bitcoin also creates a global standard for exchange and development that can't be influenced by nations that have more power.
The decentralization that Bitcoin engenders is only beginning. Most people still don't understand Bitcoin, how to use it, or why it keeps going up in value. This will likely change as more people know why Bitcoin can change the world for the better.
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