11-15-2022, 10:40 AM
Centralization failed us this year, not decentralization.
<!-- SC_OFF --><div class="md"><p>Crypto got away from its core ethos of decentralization and trust-lessness and it cost everyone dearly. Instead of building decentralized networks to replace the banks of 2008 we simply recreated them with shiny new tech. Except there is no bailout coming this time and this contagion could get ugly. Hopefully this ends the centralization of crypto. </p> <p>As painful as it is to learn hopefully this sears into everyone’s consciousness the importance of decentralization and self-custody. Hopefully this breaks the back of CeFi, and let’s Defi takes its place as it always should have been. Even Binance and the other Cexs need to have their roles greatly diminished in the space. This isn’t supposed to be a space where billion dollar banks get built on top of crypto leeching away it’s power. This has always been about empowering the individual not letting it all coagulate at the top like in traditional finance. </p> <p>2022 is a gift to crypto. It’s broken the back of centralization. And if we are to move forward as an industry we have to get back to the original principles that this industry was built on. Trust-less, permission-less, transparent, and decentralized systems is what will work. Hopefully that’s what we get more of in the future.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/QualifiedUser"> /u/QualifiedUser </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yuy0d4/centralization_failed_us_this_year_not/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yuy0d4/centralization_failed_us_this_year_not/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>Crypto got away from its core ethos of decentralization and trust-lessness and it cost everyone dearly. Instead of building decentralized networks to replace the banks of 2008 we simply recreated them with shiny new tech. Except there is no bailout coming this time and this contagion could get ugly. Hopefully this ends the centralization of crypto. </p> <p>As painful as it is to learn hopefully this sears into everyone’s consciousness the importance of decentralization and self-custody. Hopefully this breaks the back of CeFi, and let’s Defi takes its place as it always should have been. Even Binance and the other Cexs need to have their roles greatly diminished in the space. This isn’t supposed to be a space where billion dollar banks get built on top of crypto leeching away it’s power. This has always been about empowering the individual not letting it all coagulate at the top like in traditional finance. </p> <p>2022 is a gift to crypto. It’s broken the back of centralization. And if we are to move forward as an industry we have to get back to the original principles that this industry was built on. Trust-less, permission-less, transparent, and decentralized systems is what will work. Hopefully that’s what we get more of in the future.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/QualifiedUser"> /u/QualifiedUser </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yuy0d4/centralization_failed_us_this_year_not/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yuy0d4/centralization_failed_us_this_year_not/">[comments]</a></span>