Over the last couple of years, the international community has made substantial progress in the FINTECH sector. This is evidenced by the increased interest in the digital economy in the consumer sector, frequent conferences on the subject, as well as discussions on blockchain technology and cryptocurrency at the G20 summit.
Today we will talk about the main an integral part of modern FINTECH industry — decentralization. Why do we hear this word? Literally every second startup in the cryptocurrency industry is decentralized. But whether decentralization is needed and why the largest whales of the industry began to talk about her now? Let's try to understand this issue.
Rewind time ago. In about 30 years. The era of the birth of the Internet.
On the one hand hear slogans that it is finally time for true democracy and freedom, while others fear the introduction of such technology and skeptical about such a "free", requiring a short time to close the Internet to the maximum to consider in detail the regulation of emerging technologies.
In the end, both camps were right, but partly. Supporters of freedom received a suspended digital democracy, and the adherents of total control, regulate the Internet, blocking instant messaging and other web services.
But initially, the Internet and represented, in fact, a decentralized society, not subject to the Central authority.
The reality was somewhat different. Yes, now people are "free" in the right to expression on the Internet, however, large companies continue to control the digital community, providing to third parties (intentionally or not) sensitive information.
So what is so ininnovation brought about the decentralization that it is the case, the noise in the cryptocurrency industry? First of all — finances.
Throughout its existence, the monetary system remained centralized. Sure there was some kind of authority (now Central Bank), which regulate the turnover of funds and to ensure that long-established system collapsed overnight.
But the preconditions were. Maybe unsuccessful, but it was. Suffice it to recall the story of Josiah's Warren, which in its store, "Cincinnati Time Store" sold not for money but for the obligation to perform physical labor. There were dozens of other attempts to replace or at least to bring decentralisation into the world of Finance, but they also were not successful.
Perhaps the problem was failures in human nature of such attempts. Then there was no Internet and it was not so advanced technologies that would save a person from participation in the automation of the whole process.
Now the company is once again trying to change the rules of the financial world by bringing crypto currencies and it seems that this time government agencies around the world are really excited by such decentralization.
Here again history repeats itself with the Internet. Some shout that cryptocurrencies brings real freedom from the corrupt system, others accuse digital assets to use for money laundering and financing of terrorism.
The use of decentralization does not stop at only finances. Society has not yet realized, but decentralization is quite able to show the true democracy of which all have been saying. For example, the use of the blockchain in polls, in tracking delivery of goods, storage information, and more.
Decentralization will deliver the digital side of humanity from such ambiguous comprehendedia as a "trust." Will no longer need to doubt the transparency of the process.
Unfortunately, the decentralization like everything else that has been created by man is not perfect. With the development of quantum computers increases the risk of hacking of such systems. However, the very existence of this kind of technology already saves the community from technological stagnation, in which it is about with 2010.
With the widespread emergence of decentralisatie, there will be those who will try to harness this technology. Ultimately, the technological race will begin.
Today in many democratic countries discussed the issue of the use of decentralization in the presidential polls, the big banks are transferred to the domestic systems of transactions on the blockchain, and retailers are slowly, but moved into the world of digital payments.
We stand on the threshold of the future, which has been shown in computer games and movies about science fiction. It is possible that in a decentralized world, corporations will be able to be on a par with government forces, and maybe even surpass them, making a giant step towards technological singularity.
Decentralization is what futurists dream and what scared of politics, but one thing both sides agree on one thing: this technology is not going to disappear and for her future. The main question — who will regulate the decentralization at world level: the system or the government?