Time to Decentralize Everything?
A lot of people keep up with the idea that Bitcoin represents “schmuck insurance” versus the existing system. Never has that been more apparent than this past month. It’s time to decentralize everything.
The Internet and it’s underlying software technology called TCP/IP was designed and built to survive a nuclear attack. The idea would be that a network with no central off switch would be easy to keep alive during such an attack. That idea was correct. The problem is that all the services built on top of the Internet have off switches.
Witness de-platforming and user bans on Twitter and Facebook, arbitrary trading halts on Robinhood, downtime on Coinbase every time Bitcoin goes up 3% (wtf?), Reddit message boards being taken down at the worst possible time, and the list goes on.
There are two big exceptions to this:
Try shutting down either of these services and you will fail.
Now it’s time to decentralize everything.
Imagine a world where:
- All financial services are completely decentralized - no off switch
- All social media is completely decentralized - no off switch
- All messaging systems are completely decentralized - no off switch
- Governments can’t overregulate that which they can’t shut off - no off switch
- Companies were forced to add value on top of these decentralized services rather than just build their own monoliths - companies have an off switch!
This is exactly the promise of Bitcoin and Ethereum originally shown the way by BitTorrent. I’ve never been more excited about the potential of the future.
Power to the builders!
Posted Using LeoFinance Beta