This was the original crypto dream… it still is.
If you’re curious about what a decentralized economy is (also known as decentralized finance, or ‘DeFi’), it’s important to make the direct comparison versus today’s centralized economy:
A centralized economy has centralized powers - (Banks, Governments, Countries) - In a decentralized economy, things happens via a shared, transparent infrastructure.
In a centralized economy, each central power controls the rules around every transaction - In a decentralized economy, the verification of transactions is shared amongst a wider distributed network.
In a centralized economy, rules change (Quantitative easing, for example) which can devalue a currency - In a decentralized economy, transaction parameters are agreed in advance and verified by many.
In a centralized economy, you have to trust the centralized power. In a decentralized economy, the message is “Don’t Trust, Verify”.