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First, James Corbett demystifies the confusion between Bitcoin and blockchain. These terms are not interchangeable, and much of the confusion has led to a irrational hype.
However, Corbett sees the blockchain in combination with a cryptocurrency could change the financial system as we know it. It could almost completely disintermediate the financial system, making everyone their own banker.
But a cryptocurrency can also be controlled. If central banks issued cryptocurrencies, the currency could become a tool of totalitarianism. Corbett says we cannot let this happen.
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