The concept of decentralization has flourished since the introduction of Bitcoin and other cryptocurrencies. The traditional centralized model — whether for money or organizational structures — seems on the verge of a great shift.
Also read: Congress Members Want to ‘Validate’ Bitcoin — Whatever That Means
This has become evident in the recent rise of bitcoin’s price, which has seen it trade at over $4,000 USD — an all time high. Moreover, Japan accepting bitcoin as a legal payment method, as well as the Bitcoin community’s ability to successfully fork and overcome its existing issues (for the time being) has demonstrated resilience.
Despite all these great events, some people may still come to doubt this movement and, naturally, others will support it. So how can we further validate this growth and movement, this natural shift to a more organic approach to systems?
To highlight the concept, it helps to zoom out and shift the focus to a more holistic perspective that includes many different aspects of our societies, not just the ones we deal with on a personal level. The range can be from accommodation to transport to work, and many other sectors needed for a functioning society. Here lay examples we can point out to give evidence to a shift from centralization to decentralization.
Strong examples include the shift from hotel rooms to Airbnb, taxis to Uber, trains and buses to BlahBlahCar, from purchasing goods that may be used once to simply borrowing them.
It is also important to note that in any case, the revenue is mostly distributed to the provider rather than a centralized organization that acts as the “middleman” in the process. As PwC has mentioned: “On average, over 85 percent of the value of transactions facilitated by sharing economy platforms is received by the provider rather than the platform.”
In a Real Business UK article, this shift was highlighted by Benita Matofska — a world-leading ex...