Centralization is just the impact of digitization. Digitization is inevitable, because efficiencies are tremendous.
Then you will have a battle for control of centralization centered on verifiable identity, kyc and centered ultimately around financial system control, which is the center use case of centralized identity platforms.
All incentives during this phase are centralization, consolidation and scale. Decentralization efforts will be carefully controlled and excluded by very powerful interests. Financial incentives will prevent meaningful adoption.
The carrot will initially be digital money centered on banking directly in the Federal Reserve. Those licenses have been issues for several years and the direction is clear.
There is a lot of carrot left to fuel the consolidation phase, and as economic conditions change and global conditions degrade people will embrace centralized solutions in the short term.
Then you will have an interruption to the central control systems which will lead to decentralized systems.
It will take much longer than people realize for this cycle to play out. We’re still in the consolidation phase. I’m a huge believer in decentralized systems, but like self-driving cars, it’s less of a technology problem and more of an autocratic and powerful interest story.
Sorry but you are full of shit. Centralization is not digitization. Centralization is relying on the use of coercion. It's a /central/ source of truth.
The identity system we've been stuck with since WW1 will finally be replaced with something decentralized and approaching fair thanks to digitization. What we're lacking is the software that gives individuals self sovereignty.
I’d love to have a constructive conversation rather than resorting to base name calling.
I mean to say that centralization is caused by digitization because of the financial incentives, not that centralization IS digitization. And all of our current systems are systems of legacy control.
In fact I generally agree with you. Generally the identity system will be interrupted, and at the core digitization of the legacy system will happen. I’m simply saying that there will be further consolidation and centralization first and it will take longer than most people think due to the powerful financial interests involved.
To put it in your own words, I generally believe we will have to go through a economics “with the tragedy” before we get to the part where the tragedy gets removed.
I believe it was kind but the tone does not get across the textification.
Glad to hear your justifications. They are more persuasive than the initial representation.
Thank you for engaging the constructive conversation.. now w.r.t. the power of financial interests, I think it is overestimated and easily shattered but we will just have to see what happens.
Then you will have a battle for control of centralization centered on verifiable identity, kyc and centered ultimately around financial system control, which is the center use case of centralized identity platforms.
All incentives during this phase are centralization, consolidation and scale. Decentralization efforts will be carefully controlled and excluded by very powerful interests. Financial incentives will prevent meaningful adoption.
The carrot will initially be digital money centered on banking directly in the Federal Reserve. Those licenses have been issues for several years and the direction is clear.
There is a lot of carrot left to fuel the consolidation phase, and as economic conditions change and global conditions degrade people will embrace centralized solutions in the short term.
Then you will have an interruption to the central control systems which will lead to decentralized systems.
It will take much longer than people realize for this cycle to play out. We’re still in the consolidation phase. I’m a huge believer in decentralized systems, but like self-driving cars, it’s less of a technology problem and more of an autocratic and powerful interest story.