Sentences with phrase «absence of central authority»

Bitcoin was designed to be public and allow anyone to join, and its blockchain was born out of the need to keep people honest in the absence of a central authority.

As with many similar bank warnings, the organisation is concerned about the absence of a central authority overseeing the bitcoin industry, with «market players in virtual currency systems [providing] only weak security guarantees».

Transaction speed and zero censorship due to the absence of central authority.

Not exact matches

In the absence of any recognised central authority the leaders of the local churches were faced with greater responsibilities.