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What will the Future be like with Decentralization

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By Chase Smith

The current system uses a variety of disjoint systems that have to interact through flimsy bridges. The companies that create these bridges often have a monopoly on who can cross and for what kind of toll. We see these kinds of companies when people deal with payments, but also in any kind of identity or security check.

  • How does someone check that you own a house?
  • How do you know which country you are from?
  • How do you pay someone?

All of these actions must be done through centralized systems of authority.

Problems with Centralized Systems

The issue with these systems is that the centralized entities that govern them have taken on a mind of their own, they have become increasingly bureaucratic to deal with new security and regulatory concerns, and the cost of these updates has been passed on to the users. The sad truth is that as the systems grow, the customer will be forced to pay more and more into propping up these inefficient systems.

Enter Decentralization

It is this injustice and power that spurs on the decentralization movement. The decentralization movement is much more than the hype around the price of bitcoin, it is a movement that is designed to take back the power from these monopolies and give it back to the users of the system.

Does this mean that everything is going to be decentralization?

No, of course everything is not going to be decentralized. A completely decentralized set of systems is inefficient and infeasible to create. Therefore there needs to be some type of middle-ground to integrate centralized systems with decentralized systems.

What can the future be with decentralization?

Since we will never truly have a fully decentralized world, there needs to be a movement to integrate the current centralized systems with decentralized avenues. This kind of movement will bring the infrastructure of today into the future.

This future is being built by projects like OPEN, which intends to integrate decentralization into current software infrastructure. OPEN uses Scaffolds and Decentralized Ownership to connect with centralized systems. These connections can range anywhere from payment processing to ownership of assets like House Deeds.

It is important to note that OPEN is trying to advocate decentralized methods for centralized systems to enhance the transparency, lower the cost, and to advocate for the future. In the end, the future may not be completely decentralized, but decentralization will spread transparency and efficiency to previously centralized systems.

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