There is a confusion about Bitcoin that trips up a lots of people when they first learn about it: the blockchain is organizationally decentralized but logically centralized! What does this mean? Here is a 2 x 2 matrix that should help:The “organizationally centralized” column on the left contains systems that are controlled by a single organization (EBay and Microsoft in the examples, but this doesn’t need to be a corporation, it could also be a government). Conversely the “organizationally d...
