Hi Davido thanks for your input!

I cannot agree more that no one should be unjustly controlled by a mighty authotiry, but my concern is that what you refer to as a decentralized system is in fact far from decentralized. I believe a decentralized system is just not possible, despite the brillant technology that seems to enable it, because of the very nature of human beings. Then, our concern should be on what kind of central authority would be better for us.

From what I see in bitcoin and other coins right now - how majority of the people who trade coins rely on exchanges - which means they are not running their own nodes, which in fact means they are not participating in the whole network as independent entities (as is the whole point of a ‘decentralized’ system), but entrusting themselves to another form of central entitity (exchanges).

I personally feel a lot of Americans don’t appreciate the degree of freedom they enjoy compared to citizens of other countries, say China. I feel that despite all the freedom they have, they still want even more. And that is why something like blockchain came along in the first place because people wanted their own pie and independence from the seemingly almighty big techs, big banks, and the government.

But in my view, such degree of independence is just not possible, as is seen from the proportion of coin traders trading through exchanges vs running their own nodes, and even among the nodes, the centralization of mining pools.

As I decribe in the section comparing the rise of blockchain and the rise of socialism, my main concern is how the initially brilliant ideas can ultimately result in catastrophic consequences.

Socialism inevitably leads to a communist totalitarian regime.
Blind passion for blockchain can likewise lead to unwanted control of the networks by figures way worse than the current big tech, banks, and the U.S. government.

In regards to referencing the white paper, I just pasted the url of the white paper and medium apparently displays the full pdf.