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ethereum вики pow bitcoin bounty bitcoin As you now know, the blockchain protocol is able to confirm a transaction without a third party and no single authority has control over the network. This is why it is decentralized. But why is this important?The tradeoffs inherent in monetary policy are often expressed as a trilemma, where monetary authorities can select two vertices but not all three. To put this another way, if you want to peg your currency to something stable (usually another currency like the US dollar), you have to control both the supply of your currency (sovereign monetary policy) and the demand (the flow of capital). China is a good example, taking side C: the Renminbi is soft-pegged to the dollar and the PBoC wields sovereign monetary policy; these necessarily require the existence of capital controls.