Decentralization is one of the major advantages of blockchain technology. Cryptocurrency technology idealists often point to this quality. They are enthusiastic about the idea of having decentralized financial systems that are not comes from the big technology companies. But, the problem is that those who will be able to adopt blockchain in a meaningful way are the executives of large companies. However, the latter do not have the same look as others on crypto technology. Discover the gap between the point of view of idealists and that of executives of big tech companies.
Some want to control everything, others want freedom!
Great innovations have always been genuinely embraced by leading tech companies. Blockchain technology will certainly not escape this rule. However, big tech companies are not interested in it because of its decentralization. According to a publication on Bloomberg Crypto’s Twitter, “tech executives are more excited about blockchain’s ability to streamline their businesses than promises of decentralization“.
Tech companies would like to be able to take advantage of all the benefits that blockchain offers while controlling the systems created. Among other things, they need to analyze user data to find a way to earn more money. In this context, decentralization is not among their priorities.
At the same time, individuals are increasingly seeking to circumvent systems under the control of big tech companies. They would like to be able to access the Internet in complete privacy and transact freely. They are therefore specifically interested in the decentralization that blockchain technology guarantees them.
The different advantages of blockchain technology
Blockchain technology has several advantages, apart from decentralization. In particular, it makes it possible to speed up and streamline transactions. It reduces the costs of the latter and facilitates cross-border payments.
This technology makes it possible to develop more reliable and secure systems. It can be used to deploy methods that can help streamline business operations. In addition, it guarantees the traceability of operations.
Blockchain technology protects the data of network users. It can be useful for government agencies to centralize and secure data on individuals and organizations.
On the one hand, there are the consumers and idealists of blockchain technology who are interested in it for its promises of decentralization. On the other hand, there are the technology companies, the first significant adopters of this technology, who want to use it above all to reduce costs and increase their revenues.
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