as a means of payment, which implies the need for international financial organizations to be ready for settlements in Bitcoin with El Salvador.What prevented crypto from destroying banks?
Humankind. Throughout the entire history of humans, plenty of new techs couldn't have immunity from being controlled by the state authorities directly or indirectly through corporations. Radio, TV, internet, social networks — all started with the idea of free dissemination of information and eventually came up against the fact of total control. The same story is happening now with blockchain, and there is no chance that it will change in the future.
For the most part, people try to exaggerate the risks and reduce the likelihood of a good outcome. In my opinion, that is the reason that has severely limited and continues to limit people from accepting cryptocurrencies. But, as I said, this way of thinking is part of human nature. Still, why does centralization defeat decentralization? It took some time for the world government to understand that blockchain technology could be not only a problem but a powerful tool for accomplishing political interests. So the blockchain, originally designed as a powerful freedom tool, received an utterly reverse implementation, turning into a tool for money control to a previously unthinkable extent.
At first glance, the crypto had to take a step back from the initial positions of the"hawks." In exchange, it received widespread recognition, distribution and a considerable number of users around the world — it seems to be a fair reward and a victory over those who predicted an imminent demise.
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Some central banks are still trying to protest cryptocurrencies
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