1. It is true to say that the International Banking System is decentralized, that is, there is no single set of rules that governs it.
2. It is true to say that the currency exchange is the trade of different types of money.
<h3 /><h3>What is a decentralized banking system?</h3>
It corresponds to a system that uses decentralized finance (DeFi) which is a technology based on secure distributed ledgers. The system strips banks of control over financial products and services.
Therefore, a decentralized international banking system aims to guarantee independence over countries' monetary policy decisions, reducing political influence over decisions that affect currency exchange.
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