"Decentralization" doesn't look decentralized

Billions in assets frozen within minutes, or at most a few hours.

So, what’s the difference between having a bank account where your funds can be frozen and holding blockchain tokens that can be frozen as well?

There are a few important conclusions:

1. Decentralization doesn’t mean ownership.

2. Decentralization of computational resources doesn’t mean decentralization of the assets you own.

3. Ownership isn’t yours (just partially) in either case: neither in TradFi nor in Crypto.

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Comments URL: https://news.ycombinator.com/item?id=50298884

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