Banco Bilbao vizcaya Argentaria:
A basic dictionary of blockchain: 10 terms you should know
10 November 2017
The strength of the public blockchain networks lies in their 100% democratic nature. Everything is decentralized and all parties have the same information; no one individual is above another. But, as Luis Garicano, professor at the London School of Economics, explained during the recent South Summit in Madrid, that strength harbors an implied weakness. “If everything is decentralized and everyone has to agree with the changes, you won´t be able to change anything, improve anything. And if you centralize in part in order to make changes, you are attacking the very nature of blockchain.”