While the concept of decentralization is not completely new to humanity, Satoshi's Bitcoin whitepaper started a movement that hasn't been seen before and brought forward practical implementation of decentralized network to offer a better alternative to financial systems. Many were inspired by this idea and started exploring various endeavors to contribute to this effort, create businesses, collaborate about new ideas, build exchanges, create new networks, etc.
As crypto space quickly evolved many successful businesses, founders of these businesses, innovators emerged. They all talked and still talk about decentralization as their inspiration. Brian Armstrong is among such people. Who talks a lot about decentralization. I have no reason think he doesn't understand the concept, because of his early vision and success in the space. However, his statements on the topic seem to be either contradictory, confusing, or deceitful.
Today, he had an interview with Anthony Pompliano where he stated that he would decentralize Coinbase if he started over. What does that even mean? Why would you even say that now?
Now that Coinbase is a publicly traded company, perhaps there is no way to make is some kind of decentralized network. Why would you even want to do that? It doesn't make sense.
Sure Coinbase can be centralized exchange/company. But it did help in spreading the word about bitcoin and making it available for many. I bought my first bitcoin on Coinbase. Would I buy there now? I hope not. Well ok, I might reconsider under one condition. List Hive already!
You can watch three minutes of the interview here:
What made me even more confused about his talk about decentralization is the following tweet from earlier today.
https://twitter.com/brian_armstrong/status/1441112574112661505?s=20
- brian_armstrong
Does he and Coinbase intentionally ignoring Hive? Or are they just not capable of doing proper research to find out where the true efforts in building decentralized networks, decentralized social media, decentralized apps happening?
Or do they have completely different definition for this word?
I know I am asking too many questions. It just doesn't make sense to me, until I saw a response to his tweet by someone who wrote a book about bitcoin, and this response appeared as the top comment.
I didn't say it. But all this talk about decentralization and zero attempt to list Hive on their exchange or not even acknowledging or knowing the existence of decentralized social network, did make me think he might be deceitful. I would still give him a benefit of a doubt. Maybe someone can convince me otherwise.
My suspicions about Coinbase and its founders' dishonesty in speaking about decentralization started when I saw one of their top executive showed up EOS event hosted by Dan Larimer when he first introduced Voice at an Apple like presentation. Nothing against EOS, but it seemed like Coinbase valued businesses, centralized projects/ideas like Voice more than the decentralized projects and efforts.
After taking a look at their Coin listing application process, I got even more convinced that they are more interested in establishing relationships with project teams, businesses, and centralized entities.
Just looking at his tweet above, shows how narrow or perhaps even incorrect description for decentralization they are giving. Just because centralized networks and apps like twitter and reddit start using crypto doesn't make them such. Or does it?
Of course my thoughts here are biased. While Hive is not perfect, it is decentralized enough, and definitely a lot more decentralized than many coins listed on Coinbase.
List Hive already!