Sentences with phrase «centralized financial authorities»

As North Korea is increasing uncertainty through its nuclear weapon programs and other acts of espionage, not to mention increasing the public's distrust of centralized financial authorities by hacking state banking, people in the region are turning in record numbers to cryptocurrency as an alternate economic system.

Unlike fiat currency — like US dollars, euros and yen — cryptocurrency is not regulated or controlled by any bank, government or centralized financial authorities.

Not exact matches

Historically, people have relied on financial institutions to keep centralized records of accounts (currency, financial instruments, etc.), payment networks to connect the financial institutions to each other to facilitate transfers of value, and regulatory authorities to oversee everything to ensure honesty and integrity.

China's clampdown on cryptocurrencies continues as financial authorities reportedly plan to block domestic access to cryptocurrency trading platforms that enable centralized trading, within China and beyond.