

Redecentralization: building a robust cryptocurrency developer network - conformal
https://blog.conformal.com/redecentralization-robust-developer-network/

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contingencies
_We do not hold vast amounts of Bitcoins and have a vested interest in their
increasing value, to the exclusion of other currencies, like the core Bitcoin
developers_

In my view there is some truth in the leading part of that statement, ie. that
the Bitcoin foundation may be considered to be partly Bitcoin-blinkered and
there are causes for concern around conflict of interest.

Most recent example: Jon at the Bitcoin Foundation explained that his failure
to get an ISO4217 code from SIX Interbank Clearing in Switzerland was because
they said such requests must come from an existing, recognized national bank.
That means a UN-approved nation with an ISO code, and the central bank
thereof. Which central bank worth its salt is going to stick its next out to
hasten challengers to national currency? Even if one did, they may come up
with another excuse: the criteria for codepoint acquisition do not appear to
be publicly available. So I put X-ISO4217-A3, a proposal for a registry of
IANA-managed, non ISO-approved currency-like commodities with nominally
ISO4217 compatible codepoints as such has been the community's habit for new
cryptocurrencies. Well, you'd think they would have some positive outlook on
such a development - but instead they did nothing. When hastened they simply
said "we'll wait for the ISO to suddenly approve XBT". I think that's a clear
demonstration of Bitcoin-centrism, and it's not a good thing for the broader
community. I think IANA or a for-purpose blockchain should get involved as a
registrar to keep things open and transparent, ASAP.

Well done on this article, I think we need more of these posts that draw
community attention to the big picture.

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conformal
bitcoin is obviously a great system, but to just accept it as the next
financial system is missing the larger point with cryptocurrencies: they are a
significant step in the evolution of banking, an industry that has
traditionally been very slow-moving and centralized. accepting a new system
where the developers, who essentially replace the central bankers, are a small
group who wield substantial power and can act without a wide consensus seems
like a step backwards after taking a step forwards.

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contingencies
Right. Do not forget a small clutch of community-approved and government-
tolerated exchange businesses forming a second circle of effective monopoly.

