CENTRALIZATION, DECENTRALIZATION AND THE COLUMBUS PROJECT
INTRODUCTION
There are various financial systems established in the world to regulate the economy, distribute Fiat money, make decisions concerning the state of finances in the state, implement diverse projects to curtail the loopholes in the financial system. Finances is a vital part of life particularly due to the fact that the basic needs of life (food, shelter, clothing) Cryptocurrency is a platform established for the same purpose of creating a stable financial sector that is beneficial to everyone.
The various forms of financial systems that exist in the world will be discussed below.
Centralized Financial System
This is a form of financial system in which the authority, decision making, regularization, and every other thing pertaining finances in regards to a centralized system belongs to a group of persons or a single person. These individual (s) have the right to change and control the system however they choose to. In fact, they are the movers and shakers of the economy. A great disadvantage of this system is Inflation. This is when deficits in the system can be covered up by the printing and circulation of additional money while causing inflation to the existing supply. Hence, the money is being devalued in this process.
Decentralized Financial System
On the other hand, Decentralized system simply means not centralized, the opposite of centralization. While centralized systems operate by giving the veto power to one or more Individuals, decentralized financial establishments return authority to every individual in the system, permitting every one to make connections with one another, have accessible financial services. No one can make decisions for another because voting rights is given to all and inflation is prevented. As comforting as this system sounds, there are also roadblocks to it's functionality which is an in-depth knowledge on how DeFi systems are run and the startegiesbone should employ to profit maximally from it. The knowledge gap in this area makes it difficult for Individuals to make money.
Columbus Financial System
Due to the technicalities involved in Decentralized Finance technology, individuals are skeptical about investments, showing interest, etc. However, this is where Columbus comes to play. The problems experienced in a centralized system has been solved by a decentralized financial system likewise, the Columbus seeks to cover and make up for the loopholes in the DeFi system.
How is Columbus going to salvage the situation?
A system where the complexity of Decentralized finance is made easier is developed. It consists of several easy platforms accessible and enjoyable by users to make money. Wealth is a journey whose pathway is for those who have the ability to journey far in depth and endurance. This project is hence named Columbus after the greatest explorer history knows, Christopher Columbus. Aman who travelled through the world to discover it's extents and beauty.
CONCLUSION
The best things in life are usually not easy to find like the manner in which gold is discovered in dirty or deepest part of the earth. A genuine platform that seeks to make us wealthy when discovered should be held on to tightly.
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Author: juliandomingo (31)
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