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because all that will do is just entrench the existing banking oligopoly.

proof of work is the only thing that maintains unforgeable costliness.

Every proof of stake system eventually centralized and failed.

What about proof-of-space?

And of course proof-of-work isn't necessarily immune to wealth centralization either.

PoW is far from immune to it as the Chinese have proven, as they hold roughly 49% of all BTC and 65% of all mining capacity on the planet.