Nick Szabo explains the significance of Bitcoin's decentralization compared to traditional systems

On September 4, 2015, Nick Szabo, a computer scientist and cryptographer known for his research in digital contracts and digital currency, made a profound statement about Bitcoin and decentralization. He said, “Decentralization is what allows Bitcoin to substitute an army of computers for an army of accountants, investigators, and lawyers.” This quote encapsulates the essence of what makes Bitcoin so revolutionary.
 

Szabo’s statement highlighted the core benefit of Bitcoin’s decentralized nature — the ability to perform transactions and maintain a ledger without the need for traditional financial intermediaries. By leveraging an extensive network of computers to verify and record transactions, Bitcoin provides a level of security and efficiency that traditional systems, reliant on human oversight and intervention, cannot match.