Future of Decentralization
Craig Calcaterra, Wulf A. Kaal · 2021
This Chapter examines the future of decentralization. While humans who were raised in a centralized world by default turn to centralized solutions for societal prob- lems, decentralized approaches are more effective for global problems. Decentralized networks encourage interoperability through bureaucratic transparency. While the decentralized developer community is moving remarkably fast, inevitable improve- ments are still necessary. The chapter demonstrates that Bitcoin and Ethereum have provided primitive decentralized versions of currency and business contracts. The real task at hand is the construction of decentralized versions of all the rest of the institu- tions that business and society rely on. The chapter provides a guide for navigating the future decades of decentralization with a view towards the required experimentation with and failure of decentralized structures that help filter out the centralized impuri- ties of a flawed understanding of decentralization. The book can be accessed here: https://www.amazon.com/Decentralization-Technologies-Organizational-Societal-Struc- ture/dp/3110673924/ and here: https://www.degruyter.com/view/title/569051 Chapter 6. Future Decentralization The goal of decentralization is to give most individuals more power, improving the entire group. But it does not remove all walls and regulations. With this new individual power we will make more walls and more cryptographic security. But the new powers of information technology gives us the power to make regulation more complex, more dynamic and responsive. IT helps people to make doors, empowering us to move be- tween spaces securely, anywhere on the planet. Electronic copy available at: https://ssrn.com/abstract=3782201
Cite: Craig Calcaterra, Wulf A. Kaal, Future of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782201. https://doi.org/10.2139/SSRN.3782201
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