The Hope and Betrayal of Blockchain

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Summary

Unfortunately, the blockchain community seems to favor increased centralization.Apart from business-to-business platforms, which generally run on top of private blockchains where governance is centralized by design, the fastest, most secure and most rapidly growing P2P platforms are based on public blockchain networks — which are all centralized. It is a tool that promises to decentralize the structures governing all economic transactions and, in the process, redefine our concept of trust.This is the most revolutionary and innovative aspect of blockchain. Follow The New York Times Opinion section on Facebook and Twitter, and sign up for the Opinion Today newsletter.Advertisement Social media and networking services like Twitter and Facebook face competition from decentralized platforms such as Steemit or Akasha. These are tech giants, like Uber and Airbnb, which are replacing the institutionalized trust providers and becoming the keepers of our digital identity and our trustworthiness.

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The Hope and Betrayal of Blockchain

By Paolo Tasca

Dec. 4, 2018ImageAn...

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