Easy, buddy. The first word in this topic's thread is "Hypothetically".
So hypothetically and very much reality, a central entity could gain control (every hear of a 51% attack?)
Yes, and have heard about the term a thousand times.
And if a central (but 100% safe and moral, which is incredibly rare) authority did assume control it may dissolve the need for mining to produce payments.
If I got this correct, fees would be unnecessary and transaction can pass through for free? Many would go against that thought, and it's highly unlikely to happen.
I'm not saying I'm a fan of the centralization idea but if it were to happen, something like the UN would be the only option. So many people believe the UN is ineffective in reducing war (which is was a main purpose of its creation), perhaps the UN's purpose could be fulfilled by enabling more stable economic conditions worldwide without reducing the ability for capitalism and a free market to reign supreme. One way to do that is by instilling currency (and therefore wealth) that doesn't erode in value due to an inflating money supply.
How can one be sure that the people in UN
always protects the interest of the majority and would not go for their own selfish deeds? Also, why does an apolitical system need to be handed over to an organization.that could be influenced politically? The main reason why bitcoin is created is to combat financial control and whatnot, not to be a slave of the banks and rhe governments by creating another tool they can potentially exploit.