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This new Blockchain would have verified financial institutions as the licensed nodes as a substitute of peer-to-peer networks, principally, trusted institutions,” based on a Yale undergrad Sahil Gupta cited in the article. Potential players that might act as nodes on this massive, state-controlled Blockchain? Things like Bank of America, JP Morgan”. It’s unclear how Wall Road firms that have been involved in corruption scandals would possibly eliminate and even scale back the demand for decentralized cryptocurrencies, where there is no central authority controlling your assets.
