Many will state that the average person does not care about decentralization. They do not mind a centralized world. After all, they are doing fairly well with the present system.
People are so unaware.
Each week, those of us who promote the idea of decentralization are reminded why we are advocates. The centralize entities cannot help themselves. Whether it is their greed, stupidity, or incompetence, the evidence is mounting.
There is an inherent problem that exists within the centralized realm. Under these structure there is a single point of access (or a few points). The advantages to centralization are gained by presenting the ultimate weakness: vulnerability.
Wells Fargo, in my opinion, is one of the most corrupt banks out there. They stand out in an industry full of thieves. That said, they made news again.
This week, they experienced a number of service outages.
People complained that their mobile banking app was inaccessible. Then others complained the online portal was intermittent.
While the explanation by Wells Fargo is plausible in this instance, it does underscore how a centralized financial system poses risk for the users. No matter what the reason, people were cut off from their funds. Their money was inaccessible to them. Leaving aside greed, corruption, and all the other games the financial industry does, the fact that smoke found while doing maintenance emphasizes how vulnerable a centralized financial entity is.
Decentralized systems have no single point of failure. Take Hive as an example. There are roughly 120 Witness nodes that have the software on them. The top 21 end up validating most of the blocks but other do as well. If one goes down, another steps in.
Over time, especially if the price of Witness nodes are reduced through development, we could see hundreds more opened up. This spreads the point of failure out greatly.
So while people do not care about decentralization, they do care about being cut off from their money. They also are starting to care about their data being sold. Or their personal information hacked and sold on the dark web. Or their credit card numbers stolen. These are what is upsetting to people.
We know people do not pay a great deal of attention to what is going on. Most do not know there is another option being construction. Blockchain is one of the alternatives that is going to make life very difficult for the centralized structures. The established entities simply do not stand a chance. Their inherent point of failure is impossible to overcome.
Centralization supports corruption. It is almost impossible for corruption to prevail in a decentralized system. It is through consolidation that power is amassed. This makes control very easy.
The Western world is not aware of the corruption they live under. There are a couple reasons for it. The first is they believe the media. This entity plays the division game but does not call the entire system out.
A second reason is people are comfortable. As long as they have some money placed in their bank account, they will keep going. Whether it is the measly paycheck or the government handout, they will be content. Sure they will complain yet do not do anything about it.
This is not the case in most of the world. Russians and Latin Americans are all too familiar with paper records that are changed by corrupt officials to take land from them. This is supported through the accompaniment of guns. The centralization of power makes this so.
These are the people who will start to embrace this. Those who live in areas where the bankers are akin to mobsters, they are open to something else. The ones with their land or businesses stolen because someone showed up with a piece of paper stamped by a corrupt official are willing to try new things.
This is where the change is going to take place. The worse the establishment behaves, the more open people are to different things.
Decentralization will take off at some point. There are too many in the world who are displaced for it not to.
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