With decentralisation, you can build world-changing tech that fits the needs of the masses rather than the needs of the elite few. Just because something starts with the outlook of fairness and equality doesn’t mean it will remain that way. Decentralisation has to be fought for. Decentralisation is the road least traveled.
Crypto is a testing ground for a future financial system that envisions a world where we’re responsible for our own financial wealth and freedoms. Where the individual takes responsibility for backing up and storing their own financial assets. Banks, financial institutions and governments have been removed as the trusted 3rd parties. The question is, and should be: Do we want more of the same or do we want a system that is fully decentralised?
In my eyes, you can’t have both. Decentralisation is un-compromising in its values, and once centralisation enters into the equation it’s extremely hard to reverse. The statement ‘more of the same’ refers to, ending up with the same system but with new leaders that replace the old ones. If history has taught us anything, it’s that this rarely ends well!
Decentralisation is a complex web of options, opportunities, utilities, and products that at each stage must navigate and avoid the temptations leading to centralisation. Solutions have to be built, to utilise the tech, so there is no need for third-party custodians, rent seeking middle men and anyone else that wants to insert themselves into financial activities. When you eliminate the middle man, you eliminate the need for trusted services and privacy encroaching “Know Your Customer” (KYC) policies.
Decred and its development teams have worked diligently for the past 7 years to bring you a suite of tools that enhance decentralisation and help us to re-image a future where the original cypherpunk ideals remain achievable.
Decred’s suite of decentralised tools include:
- Decrediton – Peer to peer cash and non-custodial storage solution
- Politeia – Coin holder governance for protocol upgrades and treasury spending
- Decred DAO – Decentralised employment and self funding mechanism
- DCRDEX – Peer to peer exchange
- Lightning Network – off-chain scalable peer to peer payment systems
- Coinshuffle ++ Privacy preserving solution
- Bison Relay – Peer to peer communications, social media and internet infrastructure built on top of Decred’s LN payment system