Are Decentralized Freedoms Offered by Blockchains Important to the Majority?

For the most part, individuals look for convenience and entertainment. You can see this in the applications that have taken over entire industries. Amazon, Facebook, Google, and others are common household names with millions of users. And even though some of these companies are receiving a lot of bad press, they are continuing to grow. Why?

While we may look down on some actions these companies may have been involved in, the truth is that their services are in high demand. And until something better and easier comes along, these centralized industry giants will continue to rule.

So, does Bitcoin, cryptocurrencies and the blockchain concept stand a chance? It is a good question. And to answer we must look at individual components.

Let's start with the blockchain. The concept of using a blockchain has many advantages. Most important may be the self-auditing feature afforded by a trustless application. And many companies and even governments are jumping on the blockchain train. Some of the largest corporations in the world are generating significant patents on blockchain technologies. Essentially locking up business use cases. So, it looks like blockchains have a future with lots of development money behind it. Keep in mind that blockchains are not a panacea for every ill. Blockchains work well in some cases, while in others, centralized solutions are more viable.

While Bitcoin and cryptocurrencies are blockchains, they may not share the same future or growth. Let's look at the possibility of a Facebook coin. I recently wrote in a comment to @creativecrypto, "I [am] very interested to see Facebook's bid into cryptocurrency. Well-positioned in the industry, it will make a big splash and will undoubtedly garner an immediate following. While still centralized, I think we need to remember that the general public is interested in functionality, often at the expense of the freedoms offered by decentralization. Overall impacts on cryptocurrency, no one can know for sure. But it will pay to watch closely. ". That comment got me thinking and is the reason I wanted to expand it into my own post.

So, what do you think? Will major corporations take over the crypto space?

***

Pre-Post-SEO was the plagiarism checker used to determine original and unique content. Here is a copy of the report showing 100% Unique Content and 0% Plagiarism

50530