The Decentralized World 2.0 – By the people and for the people
The crypto world is getting excited in each and every passing day. Gone are the days, where the profit-mongering, centralized organization minted money and wield their influences over the corridors of power. All shattered with the arrival of Satoshi Nakamoto’s celebrated Whitepaper ‘Blockchain: A Peer-to-Peer Electronic Cash System in 2009. The second decade of decentralized organizations evolved beautifully and created opportunities for millions of people. Now, they can control their own data, they can track the provenance of a product, they can do monetary transactions without any ‘third party’ intervention, they create censorship-less content, they can review the work of their peers and their time spent will be rewarded and incentivized.
The Blockchain also open the floodgates of millions of people. Just providing their hard-disk space, the people can make money. The power also comes with responsibility. They have to be doubly sure about what they are putting on the cloud. Otherwise, in the ‘ratified’ and ‘peer-reviewed’ world of today, their value will decrease.
Slowly, most of the Governments, financial institutions and private corporations are realizing about the importance of ‘Blockchain.’ And doing their own feasibility study to include them in their system. This is certainly a welcome change. Considering its life-altering impact over several fields, we can’t think of a ‘Blockchain-less’ future. Still, lots of things to happen to make the Blockchain as the true catalyst of change. The entire world should accept the ‘crypto’ as one more asset-class. The Government should allow people to exchange their crypto with local currency without any difficulty. These kinds of measures will enhance the usability of crypto. The Blockchain is not created to upset the existing systems. On the contrary, it will help the current world move faster and better in a right direction.
By
Srini