From Centralized To Centralized To Freedom

in LeoFinance9 days ago

We are seeing major shifts in the world taking place. The established system is rapidly changing and few are truly aware of what is taking place.

There is little debate that we live in a world of centralization. All our institutions are centrally run. They operate, for the most part, on a hierarchical structure. This top-down approach allows for the few to control the power over larger numbers.

Think of the typical corporation. Those with the most power are the C-level executives and, perhaps, the board. Depending upon the organization, this could be a couple dozen people. These companies, however, employ thousands of individuals.

We see the same thing with government. Between politicians and bureaucrats, it can number a few million people. Yet, in a country like the United States, they wield power over 330 million people. Have you ever had some low level bureaucrat at some government entity tell you "no"? It happens all the time.

Perhaps the one of the most powerful industries is banking. These companies were able to operate without much interference for decades. In the U.S. they do not prosecute bankers. A bit more than a decade ago, they brought down the global economy but not one went to jail.


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As mentioned, times are changing. There is no better example than the banking industry. For the past 15+ years, FinTech was eating away at their market share. This is only accelerating. In fact, the entrants are coming from all directions.

In this article I noted how Walmart is now entering the world of FinTech by partnering with a entity with the goal of acquiring other leading FinTech companies.

This is all happening at a time when the banks are expected to incur big losses when they report.

Thus, we are seeing the demise of the banking industry. Few are aware of it but there is another sector starting to take over. That is the technology companies.

Here is where the title comes in.

As we know, mega-tech is no walk in the park either. They came to power through surveillance capitalism, i.e. making money off the efforts of their users. This enables them to keep gaining power as they leverage the network effect for massive profits.

Over the past few weeks, they show how much power they do, indeed, wield. With the click of a button, they can wipe out an account, and someone's business, in an instant. These giants even went up against the President of the United States and won without much of an issue. Obviously, these entities have little to fear from governments.

Here again, we see the impact that a few can have on the masses. For a company like Facebook, their actions affect billions of people. The same degree in numbers, the same is true for Microsoft, Apple, and Google. Their reach extends far beyond any national boundary.

So are we any better off in the hands of these technology companies over the banks? Time will tell but the way they operate, it is not likely. We are just switching from one centralized entity to another.

This is a phase that we have to go through. Many around the world are starting to wake up. Cryptocurrency and blockchain offer alternatives to what is presently taking place. Unfortunately, there is still a lot of work to be done to achieve a system that can handle the traffic. Most of this industry is still dependent upon centralized entities.

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That could be a problem as the industry gains in power. Over time, we are going to see the impact this has on mega-tech also. However, it will have to be a slow bleed to avoid a total stamping out. The situation with Parler showed how quickly things can disappear.

Decentralized storage, names, and financial resources is vital. Ultimately, we are going to have to see Digital I.D. systems and truly decentralized data that is controlled by the user. For now, we simply are not there.

That is where we will be moving away from the present structure to one of freedom. Everything that is centralized must go. The Internet, which is becoming the foundation of people's lives and one of the legs of Web 3.0 (4th Industrial Revolution, 5th Stage of Humanity, etc), is now a silo whereby a few companies truly control the entire thing. A handful of companies are controlling more than 4.5 billion people through this medium.

Fortunately, cryptocurrency and blockchain operates on a global scale also. There is no limitation based upon national boundaries. People from all over the world are contributing to the growth of the industry. This is happening both on the development and user side. Each time we have another person involved, in whatever capacity, it is one adding to the ranks.

The key is to keep building to enrich people who are involved. If they have a lot at stake, they are more likely to fight to protect what they have. With a market cap of about a trillion dollars, crypto is still roughly half the size of just Apple. It shows how much more room there is for growth.

To achieve freedom, it is going to require infrastructure and billions of users globally. This is the only way to offset the power of the centralized structures that are in place. If the banking industry is getting weaker, that is only making technology companies more powerful.

After all, we see how much power they wield over social media. There is nothing stopping them from behaving in the same manner with people's money.

The parties might be changing yet the tyranny is still the same.

It is up to us to change that.


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That’s very amusing to consider how much power they have on their users. How they can “erase” people or businesses in a click.
But on the other hand users have the same power against the owners without realising it. They simply have to stop using it !
And all this power will suddenly disappear, becoming worthless.
I’m dreaming of this moment when every users will act in coordination and start boycotting those entities.

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Good point.
I'm observing a mass exodus from WhatsApp to Telegram and Signal in Israel right now.

Glad to hear this is a global phenomenon and hope it becomes a mass adoption :)

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Yes it is. We have to excite one step at a time. For example, I use Presearch for my search engine as opposed to google. Once in a while I have to go back to the other simply because the results are not quite there with Presearch. It is evolving, decentralizing, and paying for the use through crypto.

Here is my referral if you want to use it:

https://www.presearch.org/signup?rid=1555833

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Haha good to hear ! I’m also in a process of “un-googling” myself. Using Brave instead of chrome, presearch instead of google, ProtonMail instead of gmail !
Now for presearch I’m always jumping to DuckDuckGo results which I find lot more consistent. Not mentioning that google is obfuscating several websites I’m used to visit.

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I tried presearch a few years ago. Is it a search-engine itself? I remember it as a kind of 2nd-layer which allows you to direct your search into specified search engines.

Just in case it's a search-engine itself - can you make a comparison between DuckDuckGo and Presearch?

Yes, and we have the tools to accomplish this right here and right now. It is up to us to work together to make it happen. Now is the time.

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I’m trying to do my part everyday :)
Even trying to talk people to “reason” whenever I have the chance haha

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So are we any better off in the hands of these technology companies over the banks?

Seems not.

The Internet, which is becoming the foundation of people's lives and one of the legs of Web 3.0 (4th Industrial Revolution, 5th Stage of Humanity, etc), is now a silo whereby a few companies truly control the entire thing. A handful of companies are controlling more than 4.5 billion people through this medium.

I was thinking of this the other day. We want decentralization and working on it but entirely depend on out internet provider as without that we can't function here.

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That is a problem point without a doubt. We need some type of mesh network option forming.

There are a lot of layers that require attention.

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Big Tech might think it has little to fear from governments, but it is about to get a huge wakeup call.

Big Tech's actions in banning crypto, doing secret agreements to rig the online advertising market and now banning Trump, Parler and other competitors are all criminal cartel conduct, that will land their execs in gaol, if not in the USA in other countries that still have rule of law.

That might be the case but it depends upon what the puppet masters at the IMF, World Bank, and WEC want. These are the real power brokers as we are seeing.

It looks like they want to get rid of Trump because now they have open access to the US. Biden will not stand in the way of anything.

For whatever reason, it seems like the banks are the next big loser in all of this.

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It's up to us to push it further, to push it against the odds. The world will be different in years to come and that's a good thing. Vision 2025 for sure :D

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Without a doubt, it is up to us. There is a lot that needs to be done and we all are part of making it happen.

The network effect proved to be real and numbers are what is needed. However, until that point where the masses are coming, those of us without technical skills can do all we can to keep places like Hive humming along.

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I have been wanting to pick up one of those credit cards that are tied to your crypto funds, but the truth is my bag is just so small that I don't really see the point. The other issue is I have a feeling they are still probably controlled by the same banks that manage all of the other cards. I feel like I would just be trading one intermediary for another.

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I've been very happy with my crypto.com credit card.

It is based in Singapore and Malta so to the extent it is beholden to banks at all they are very different ones from the Israeli & Australian banks I normally deal with.

This itself provides resiliance from diversity. I can top it up from fiat and crypto sources easily.

I was looking at that one, but the amount of CRO I had to stake to get the more beneficial ones was too high. So really they are more like a debit card that can be used as credit right? If they are pulling from an account of funds that you actually hold where credit cards are more of a loan.

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Yes, you have to stake CRO but it earns good interest (up to 12%). There is no annual fee.
To me staking and earning good interest is much better than paying an annual fee.

Its a debit card. You need to top it up but this means you can keep your fiat (stablecoin) and crypto earning good interest right up until when you need it.

Unlike a regular bank account where you earn no interest, pay fees and get useless crap rewards for credit card spend.

Great points! I have a little bit of CRO staked, but I am still waiting to pull the trigger on this. Maybe after I fatten up my bags a little bit!

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It appears that way. We will see how things develop over time.

I am sure we will end up seeing applications that do not even require the plastic.

It is all changing and the next few years will really be amazing in this field. So much going on from different areas.

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I think it is cool that Paypal has integrated some of this. I think it would be cool for places like Gpay and Apple pay to also implement it. Plus with services like Venmo people are getting more and more comfortable sending funds electronically from their phone.

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While I don't believe the big tech companies or banks can stop the raise of crypto, I wonder how much effect the "Great Reset" the governments are pushing will have on its development. The printing of money without economic development isn't exactly raising the people's faith in the money and it isn't exactly going to the people who need it.

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The key that crypto has is the ability to distribute directly. All tokens earned go directly to the individual, not through some bank.

We also can innovate and get involved in new projects. As they succeed and grow, value goes up. Will this overcome what is taking place with the establishment? I dont know but it cant hurt.

We do have some abilities they do not.

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If humanity adheres en masse to the solutions that emerged from the fintechs, all of them ended up changing, as this will make everyone want to update themselves and be within the market.

However, the first to succeed were initially the ones who earned the most for being pioneers.

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Early adopters always benefit the most.

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I am so happy to be living with a future that will make sense. Only a few hours ago I was thinking about how people are led to believe they have to be in debt. Mortgage, car loan, education loans, they get you by the balls from day one and keep you in debt till your dead.

I hope the decentralization bring great change and freedom to the masses also.

100 percent upvote, reblogged and tweeted.

Bradley

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If the banking industry is getting weaker, that is only making technology companies more powerful.

I just hope technology companies aren't actually worse than banks.

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Not something I am willing to chance. Hope is a bad strategy for the future.

That is why what we are doing here in crypto is so important. We are not hoping but building things that are changing people's lives.

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the time has finally come...

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I think my mind is about to explode whenever I think of all the possibilities that the future can bring.

Great post, @taskmaster4450.

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It is moving quickly, something to be mindful of.

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When I studied industrial engineering (early 80s) we were still taught the Taylor style efficiency with just a sprinkling of Japanese management practices. We were still centralized because our computers were centralized. Our schools were increasingly centralized, too. I rebelled, homeschooled/private schooled 6 kids, and have an innate distrust of centralized anything. I saw enough junk in big business and the big city (6 years in Chicago--ugh! Only the great food made it tolerable.)

This rings so true in every aspect. Why would the powers of the world want everyone to be self sustainable and be able to speak their mind and make decisions based on facts. While the few control the money we will never have true freedom. Here in a Australia, the media is controlled by two main entities, mostly , and they will sprout whichever political agenda is going to best suit them at the time. Decentralisation is going to enable people to make their own decisions based on fact if they want to. The assault on the capitol building just show how easy it is for one person, centralised, to mind control a group of people enough for them to act in such a way. I don’t believe I will ever see capitalism disappear in my lifetime as it is too easy for the powers to manipulate the many. If a government can pay for their farmers to stop growing crops whilst other starve in another country, we are never really focusing on humanity, but rather our self-centred selfs! I really enjoyed reading this. Thanks

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We're here to experience something that will go down in history! Build and hold!

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@taskmaster4450, In my opinion there will be no perfect system ever, but we can expect most effective and efficient one. Stay blessed.

Yes indeed @taskmasters We have to create what we want.

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