Decentralisation is a concept that aims to distribute power, decision-making, and control away from a central authority. The mission is to remove the middleman, not replace them.
Distributed technologies and peer-to-peer networks like Decred, are getting closer to the realisation of eliminating the need for centralised authorities and rent seekers in key areas of our digital lives. Digital peer 2 peer cash was the first step. Privacy, governance, trade, and communications are the next iteration for a diverse network of decentralised societies.
Without the need for middlemen, Decred operates a global network of sound money with a predictable supply where transactions are verified, recorded and distributed on a worldwide ledger without the need for banks or central authorities. Money is better and fairer when everyone is playing by the same rules.
Decentralised Privacy & communications
Privacy intrusion is everywhere, from our money to our communications. The need for privacy in our daily lives has never been greater. Privacy enables us to transact with others and talk freely. Many projects are working towards the goal of private digital cash, including Firo, ZCash, Monero, Dash and Decred. But in terms of private communications, none comes brighter than Bison Relay.
Money that implements decentralised governance models to empower participants to have a say in decision-making is groundbreaking. DAOs (Decentralised Autonomous Organisations) are a prime example. They enable stakeholders to propose, vote on, fund and implement changes without relying on a central authority. These models promote transparency and reduce the concentration of power. Decred’s treasury and governance system “Politeia” are great examples of the potential of this technology.
Peer 2 peer cash loses its potential when you need to use centralised exchanges to facilitate trading between coins and other products. The same can be said for decentralised exchanges (DEXs) that insert themselves in the middle of a trade with arbitrary tokens and fee structures. DCRDEX is a platform for peer 2 peer crypto trading that has no trading fees, no middlemen, no rent seekers and no front running.
I hope you are paying close attention because the future will not be centralised. Welcome to the Decentralised Digital State!