A critical look at decentralization: Part 1 – The erosion of trust - Episode 329 - by cryptohunt.it

A critical look at decentralization: Part 1 – The erosion of trust

Welcome to a new year and to the Cryptohunt Jam, where we continue to spend a minute a day explaining the intersection of exciting new technologies and your world. As always: In plain English.

Whether you are familiar with crypto, or have been following the latest Twitter debacle: You'll surely have heard the calls for complete decentralization.

But what do people actually mean by that? In the next three episodes of this podcast, we'll dive in deeper, a minute or two a day.

Today, let's take a look at the history of decentralization, and how we ended up not trusting each other anymore.

Think back a couple of decades - people worked normal jobs at the same company for their entire careers, saved money, and moved their families to the suburbs. Having a car was the coolest thing, and you could still smoke on airplanes.

If you wanted to put money into your account, you'd go to your local bank. They knew you, and you knew them. Problems could be figured out between people.

Now step forward to today, and many people see the world a little differently. Anonymous, outsourced call-centers that don't know you, mega corporations that will do anything for shareholder profit, and politicians that can only agree with each other when lobbyists buy them nice lunches.

Sounds a little too grim maybe, and while you may not see it the same way, some people certainly do: In a world where they will not trust organizations and governments to do what seems right, those people look for alternative ways.

Their solution? Often a call for “decentralization” - taking the power away from a single person, company, or government and giving it to the people. Think about Twitter for example, but controlled by the users and not just a flip-flopping Elon. Or money, printed by the people, not the government - rings a bell?

Great - but does that actually make sense? Hear the arguments for and against decentralization in our next two episodes. Stay tuned for tomorrow.

This podcast is produced by Cryptohunt.it, the easiest place to learn all about Web3. Copywriting is done by Arndt Voges, Social Media is done by Brett Holleman, design is done by Carmen Rincon, and my name is Christian Byza, Co-Founder of Cryptohunt and I am your host of this daily show.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.