Why does this world need decentralization so much

[Crypt-mining]

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https://cryptofiction.net/uploads/images/image_750x_5b2bb83b3c48c.jpg

Over the past couple of years, the world community has made significant progress in the fintech sector. This can evidenced by the increased interest in the digital economy in the consumer sector, the frequent holding of conferences on this subject, as well as discussions on blockchain technology and cryptocurrencies at the G20 summit.

Today we will talk about the main essential part of the modern financial industry: decentralization. Why this word is popular nowadays? Literally, every second startup in the crypto-industry is decentralized. Nevertheless, is decentralization necessary and why did the biggest whales of the industry start talking about it just now? Let us try to understand this issue.

Let us set the clock back. Approximately 30 years. The age of the birth of the Internet.
On the one hand, there are many slogans that at last the time for the real democracy has come and freedom of action. On the other hand, there are still some people who afraid of the introduction of such technology and are skeptical about such "freedom", demanding to close the Internet for a short while to think how to regulate such an emerging technology.

As a result, both camps were right, but partially. Supporters of freedom have received conditional digital democracy, and adherents of total control regulate the Internet, blocking messengers and other web services.

After all, the Internet initially was, in fact, a decentralized society, not subject to the central body.

The reality was somewhat different. Yes, now people are "free" with the freedom of expression their thoughts on the Internet, but large companies still control the digital community by providing third parties (intentionally or not) with confidential information.

So what kind of innovation decentralization has brought? Moreover, why business is so fussy about the crypto-industry? First — finance.
Throughout its existence, the monetary system remained centralized. Necessarily, there was a certain body (today it is the Central Bank), which regulated the circulation of funds and ensured that the long-established system did not collapse overnight.

However, there were some prerequisites of this. Maybe unsuccessful, but still there were. Suffice it to recall the story of Josiah Warren, who at the Cincinnati Time Store sold goods not for money, but for the obligation to perform labor. There were dozens and other attempts to replace or at least introduce decentralization into the world of finance, but all of them also failed.

Perhaps the problem of failure was the human nature of such attempts. Then there was no Internet and there were no advanced technologies in order to automatize the whole process.

Today the society is again trying to change the rules of the game of the financial world by introducing cryptocurrencies and it seems that this time state bodies around the world are excited about such decentralization.

Then the story repeats itself again with the Internet. Some people shout that cryptocurrencies «bring real freedom from a corrupt system», while the others blame digital assets for money laundering and terrorism financing.

The use of decentralization does not stop only with finance. The society has not yet realized, but decentralization is fully capable of showing the true democracy that everyone has been talking about for a long time. For example, the use of blockchain in voting, in tracking the supply of goods, for storing information and much, much more.

Decentralization will save the digital side of humanity from such an ambiguous notion as "trust." There will no longer be a need to question the transparency of the process.

Unfortunately, decentralization like everything else that is based on mankind is not flawless. With the development of quantum computers, the risk of breaking into such systems is increasing. Nevertheless, the very existence of this kind of technology already relieves the community of technological stagnation, in which it has been around since 2010.

With the widespread emergence of decentralization, there will be those who try to curb this technology. In the long-term, the technological race will begin.

Even nowadays in many democratic countries are performing discussion about bringing decentralization in presidential elections, large banks transfer internal transaction systems to blockchain, and retailers are slowly but moving to the world of digital payments.

We are on the brink of the future, which we could see in computer games and fantasy movies. It is possible that in a decentralized world, corporations will be able to become on par with government forces, and may even surpass them, making a giant step towards the technological singularity.

Decentralization is what futurists dream about and what politicians are afraid of, but on one side, both sides are in solidarity: this technology is here to stay.

The main question is who will regulate decentralization at the world level: the system itself or the government?

Source: https://cryptofiction.net/post/why-does-this-world-need-decentralization

[1714899744]

1714899744

[nanoiscool]

Why does this world need decentralization so much?

There are many plausible answers, but I will mostly focus on corruption in this small post. A centralized authority may make biased decisions in its own interest (or other's interest). We may take the example of the recent Facebook scandal: the company (the centralized authority) allowed personal data to be used in other people's interest. This does not happen only with companies, but also with governments - I believe each one can give an example from his/her country of recurring corruption acts.

[Bennix]

The world needs decentralized system so that the government will not control someone money or know the exact amount of money one has in his account. The world needs decentralized system so there will be total financial freedom.We need decentralized system so we can control our money using private keys without interference of third party.

[Aidan_Davis]

I think there are different kinds of decentralization. One aspect of decentralization would be the decentralization of government power. When you have a large area with one centralized government, it because very difficult to make decisions that are in the best interests of all of its subjects. The governments are always biased towards their own groups. For this reason, it can be better to have many separate governing bodies across the same area. This way each government is best equipped to deal with issue that are pertinent to its unique population. Decentralizing a financial system allows more control over corruption. It takes the power from a small group of people and spreads it out among the world.

[PoseidonF]

Hello everyone! I found some article with a good massage to this world



Over the past couple of years, the world community has made significant progress in the fintech sector. This can evidenced by the increased interest in the digital economy in the consumer sector, the frequent holding of conferences on this subject, as well as discussions on blockchain technology and cryptocurrencies at the G20 summit.

Today we will talk about the main essential part of the modern financial industry: decentralization. Why this word is popular nowadays? Literally, every second startup in the crypto-industry is decentralized. Nevertheless, is decentralization necessary and why did the biggest whales of the industry start talking about it just now? Let us try to understand this issue.

Let us set the clock back. Approximately 30 years. The age of the birth of the Internet.
On the one hand, there are many slogans that at last the time for the real democracy has come and freedom of action. On the other hand, there are still some people who afraid of the introduction of such technology and are skeptical about such "freedom", demanding to close the Internet for a short while to think how to regulate such an emerging technology.

As a result, both camps were right, but partially. Supporters of freedom have received conditional digital democracy, and adherents of total control regulate the Internet, blocking messengers and other web services.

After all, the Internet initially was, in fact, a decentralized society, not subject to the central body.

The reality was somewhat different. Yes, now people are "free" with the freedom of expression their thoughts on the Internet, but large companies still control the digital community by providing third parties (intentionally or not) with confidential information.

So what kind of innovation decentralization has brought? Moreover, why business is so fussy about the crypto-industry? First — finance.
Throughout its existence, the monetary system remained centralized. Necessarily, there was a certain body (today it is the Central Bank), which regulated the circulation of funds and ensured that the long-established system did not collapse overnight.

However, there were some prerequisites of this. Maybe unsuccessful, but still there were. Suffice it to recall the story of Josiah Warren, who at the Cincinnati Time Store sold goods not for money, but for the obligation to perform labor. There were dozens and other attempts to replace or at least introduce decentralization into the world of finance, but all of them also failed.

Perhaps the problem of failure was the human nature of such attempts. Then there was no Internet and there were no advanced technologies in order to automatize the whole process.

Today the society is again trying to change the rules of the game of the financial world by introducing cryptocurrencies and it seems that this time state bodies around the world are excited about such decentralization.

Then the story repeats itself again with the Internet. Some people shout that cryptocurrencies «bring real freedom from a corrupt system», while the others blame digital assets for money laundering and terrorism financing.

The use of decentralization does not stop only with finance. The society has not yet realized, but decentralization is fully capable of showing the true democracy that everyone has been talking about for a long time. For example, the use of blockchain in voting, in tracking the supply of goods, for storing information and much, much more.

Decentralization will save the digital side of humanity from such an ambiguous notion as "trust." There will no longer be a need to question the transparency of the process.

Unfortunately, decentralization like everything else that is based on mankind is not flawless. With the development of quantum computers, the risk of breaking into such systems is increasing. Nevertheless, the very existence of this kind of technology already relieves the community of technological stagnation, in which it has been around since 2010.

With the widespread emergence of decentralization, there will be those who try to curb this technology. In the long-term, the technological race will begin.

Even nowadays in many democratic countries are performing discussion about bringing decentralization in presidential elections, large banks transfer internal transaction systems to blockchain, and retailers are slowly but moving to the world of digital payments.

We are on the brink of the future, which we could see in computer games and fantasy movies. It is possible that in a decentralized world, corporations will be able to become on par with government forces, and may even surpass them, making a giant step towards the technological singularity.

Decentralization is what futurists dream about and what politicians are afraid of, but on one side, both sides are in solidarity: this technology is here to stay.

The main question is who will regulate decentralization at the world level: the system itself or the government?

Source: https://cryptofiction.net/post/why-does-this-world-need-decentralization

well this question can include many different topics, but mainly i think so that people can gain back control over assets, data, money and anything of value. Third parties like banks over the years have acquired access and control over all this things and people could argue if  it does not interfere with their freedom. A decentralised system will fix all that.

[seoincorporation]

Today the society is again trying to change the rules of the game of the financial world by introducing cryptocurrencies and it seems that this time state bodies around the world are excited about such decentralization.

Then the story repeats itself again with the Internet. Some people shout that cryptocurrencies «bring real freedom from a corrupt system», while the others blame digital assets for money laundering and terrorism financing.

The use of decentralization does not stop only with finance. The society has not yet realized, but decentralization is fully capable of showing the true democracy that everyone has been talking about for a long time. For example, the use of blockchain in voting, in tracking the supply of goods, for storing information and much, much more.

Those concepts are, from my perspective, really assertive. I like to remember when the Internet was introduced in our society: at first, many people used to think about that as a dark hole where hackers and untrust people used to engage, in a really abstract system, in where no law was to be found. Now, the internet has become mainstream, and I presume millions of people are unable to picture a life without it. With the internet becoming mainstream, we all have now access to a lot of knowledge that, before, was relegated to some libraries and spaces destinated to such goal. But, sadly, the common use of the internet is based on social media with all the surveillance nightmare we are living being involved.

Yes, the blockchain technology can become a really important part of a system far fairer than the one we have now. But, what concerns me is the use the society is going to give to this system. I mean: look that had happened to the internet: Facebook, Instagram, Youtube, et al, are the most used platforms by humanity, platforms, of course, at the service of centralized governments. What if the blockchain technology becomes something similar?

On the other hand, we have the bright side, the utopic one, in which the blockchain technology will be able of decentralizing the power and giving it back to the common people. However, I don`t see it coming.

[neal.gerard]

The main question is who will regulate decentralization at the world level: the system itself or the government?

Am I missing something? Why would decentralization need regulation? When you talk about regulation, it makes me thing of some governing body. Like there should be a government above decentralization. Wouldn't that be sort of an oxymoron? You said the Internet was initially decentralized. Do you think that's changed? I'm under the impression that the Internet is extremely decentralized. I've heard that it's near impossible to shut down the Internet because it is decentralized. To answer your question in short, decentralization shouldn't need regulation.

[Willie_Linder]

Yes, we need it. It is always hard for governments to admit it but they know about it. Decentralization is a way to fast development. It is also a way to fight corruption and to give opportunities to people. Talking about financial decentralization, well it is not suitable for banks. We know that the goal of cryptocurrencies is to allow business without banks. Actually, every transaction needs banks. With virtual money, we can do business without banks. They know this and that is why they hate it. Even hating is not enough because the more they hate it, the better it will be. In politics, decentralization is good as it allows cities to develop themselves and not wait for money coming from the central power.

[ZeusTrade]

because we have already had many proofs that centralization does not work. An example of this is that Venezuela is sunk with centralization, I do not like governments or let them say what I should do, I do what I want and I want to decentralize

[Cryptojuni]

The world need decentralization so that other individual will be independent.Total dependency on government for creation of employment has rendered numerous people jobless. Consequently, we need a decentralized system of government as to enable every individual have control over finance and authority.       

[goldSkylark]

Oh yes, we absolutely need decentralization! It is the goal of crypto to become a global currency that is not affected by any country’s economic situations. No country, region or corporation can influence or affect a virtual currency. Its decentralized nature ensures that no one can truly own it. And that’s what makes it special. It’s like the power is equally distributed amongst ourselves.

[bitbitP]

in decentralization we trust! With all things being censored , its only a matter of time that we start decentralizing our centralized ecosystem!

[Gururapyco]

World need decentralization because we cannot rely anymore on big companies and conglomerates that control avery word we say on social media and every dollar we spend using our debit cards.

[katherin_panini]

Because of the ease of access to information these days, people can learn things quite quickly. Everybody now is well aware of how corrupt their governments are, so they want to find alternatives, naturally. Decentralization is the most reasonable choice.

Governments are corrupt, and we know they are corrupt. This is why we are in the "post-truth" era of politics. If we know they lie, and they know that we know they lie, then why bother? Just keep lying and everything will continue. There's no direct accountability anyway so they've got nothing to lose.

[BADecker]

The world needs centralization in thought. If everybody knew what everybody else was thinking, there could never be any shady crook tricking people out of their money or property... because they would all know it, and would stop him if he tried.

Of course, the problem would exist in the one who controlled the centralization. 

[goldSkylark]

Decentralization allows for an effective “check and balance,” which is a good mechanism against corruption and dictatorship. I like that you mentioned “Decentralization will save the digital side of humanity from such an ambiguous notion as trust" I do believe digitalization will play a huge role in humanity’s future. In fact, I heard that we will entirely be dependent on technology –and that means cryptocurrency and possibly even the digitization of human consciousness in order to ensure survival. What do you think about going fully digital in the future?

[Brian_Bishop]

There is a general saying that comes to my mind when I read this. Power corrupts and absolute power corrupts absolutely. I really picture how powerful tech giants' CEOs like Facebook and Google feel having access to all that info and data, carefully collected from all around the world. And as we all well know, knowledge is power. The same goes for the leaders of the financial systems. Having all that control over funds and knowing so much about all the transactions that go on around the world. One would certainly get tempted someday. And this is where decentralization comes in handy; to relieve them of that burden.

[SkyFlakes]

I'll just put it in my country because we are currently having problems with regards to decentralization of government. Although our current form of government is unitary, we still do lack of strong enforcement of decentralizing government. There's a lot of advantage when we continue to pursue having more decentralize country. One of it is that there would be an equal development for all. This is just few of many to be cited. We can see that it is indeed good for a country to be mor decentralized, then implementing it over the world should also be considered.

[PEDROMAP]

Centralization means control over things, and if people behind this arent trustworthy or tend to put their wellbeing above of the many wellbeing, known as corruption, then all this leads to a need of decentralization, as in this case their is no domaining part and this tend to be fair/equal for everyone, as no one likes the benefit of a few in contrast with the bad of many.

[m.roth]

The main question is who will regulate decentralization at the world level: the system itself or the government?

Am I missing something? Why would decentralization need regulation? When you talk about regulation, it makes me thing of some governing body. Like there should be a government above decentralization. Wouldn't that be sort of an oxymoron? You said the Internet was initially decentralized. Do you think that's changed? I'm under the impression that the Internet is extremely decentralized. I've heard that it's near impossible to shut down the Internet because it is decentralized. To answer your question in short, decentralization shouldn't need regulation.

The internet nowadays mostly relies on servers, there are many and geographically distributed. But it does not really work decentralized since data are stored on one server for example. IPFS is a project trying to decentralize the internet and create a real p2p hypermedia protocol.

Otherwise i agree with your oxymoron reference. Still you need to define rules in what frame the system governs in a first place. However, decentralization at the world level in terms of governmental processes, this will probably be one of the last implementations of blockchain. States are sovereign and will in a first place introduce blockchain on national level (concerning governmental processes). Otherwise, blockchain will be applied internationally in other areas where loads of data exchange and transactions happen, such as supply chain management, financial functions, digital identities and the energy market.