In our last piece, we outlined some of the likeliest ways in which cryptocurrencies tend to exhibit centralization. Whether a particular cryptocurrency can be considered “sufficiently decentralized,” however, is not something that’s set in stone – no official metric exists to determine such a parameter. But given the crucial role that decentralization plays within the blockchain ecosystem, it is worth investigating the extent to which it applies in practice. A checklist can help in this regard. So, in this second piece, we list five questions you can ask yourself to determine whether or not a cryptocurrency is decentralized to a…...
Shashank Pattekar Financial markets professional turned FinTech enthusiast, Shashank has a passion for exploring the possibilities of disruption in this new, tech-informed era of finance. After several years working in London's financial services sector, including stints with investment banks Goldman Sachs and Merrill Lynch, he opted in 2013 to switch to a more location-independent career. In the process, he developed a keen interest in writing about contemporary subjects including FinTech and blockchain, alongside more traditional topics related to finance, economics and current affairs.
Shashank has also been an advisor to a new London FinTech firm, and has worked on a number of global blockchain projects, mainly in financial, marketing and advisory capacities.
Shashank can be reached at [email protected]