Crypto News Bulletin from bitcoinmagazine

Friday March 1, 2019 4:43 PM
3 weeks 1 day ago

Op Ed: Defining Decentralization: How Ambiguity Continues to Divide Crypto


There are many keywords in blockchain, but few spark as much emotion as “decentralization.” For many of us, it was the dream of decentralization that inspired us to embark into the industry in the first place — the driving force encouraging us to explore the many industries and practice areas that could be positively impacted by this technology.To say that decentralization is an important element of cryptocurrency’s potential would be a gross understatement. However, I do believe that the crypto community is misguided in its belief that decentralization is an end-all be-all solution to the ills of centralization as we know it. Yes, decentralization can help eliminate some of the inherent problems of centralized infrastructure, but is decentralization necessarily our objective? In the pursuit of mass adoption, decentralization shouldn’t be our goal, but instead a means to achieve the many different, and equally important, goals that exist for cryptocurrency users.In the pursuit of mass adoption, decentralization shouldn’t be our goal, but instead a means to achieve the many different, and equally important, goals that exist for cryptocurrency users.When I first fell down the Bitcoin rabbit hole five years ago, I too thought decentralization was the “holy grail” for the success of the industry. I recognized (and still do) the fundamental problems with centralization and shared in the idealistic vision of keeping cryptocurrenci...

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