The Illusion of Decentralization

Back in the 1990’s, then-chairman of the Federal Reserve Alan Greenspan used the phrase “irrational exuberance” to describe the rapid and relentless rise of stock markets amidst a preponderance of data that should have tempered market mania. Setting aside Greenspan’s role in stimulating such “irrational exuberance” via interest rate driven monetary policy, it seems as though his phrase is ripe for recycling when looking at the current fever for “decentralization”; particularly, decentralization as it would apply to blockchain, Web 3.0, and cryptocurrencies. Can blockchain as a foundation of Web 3.0 really be decentralized?Read All