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When the history of the first two decades of the 21st century is written, along with the paradigm shifts caused by 9/11, the Arab Spring and the Great Recession there will be noted a new-found appreciation for decentralized systems and, in particular, the cryptocurrencies they spawned.

There is some merit to the argument that the rise of Bitcoin, and a multitude of other cryptocurrencies, was a direct challenge to the centralized financial systems that failed to curb the abuses, greed and neglige...

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The Paul H. Nitze School of Advanced International Studies (SAIS)
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