It is an us versus them. The combatants: a centralized financial system versus one that is trying to push into decentralization.
In this video I discuss how we need to keep our eyes on this ball and how we can create different whales all over the place.
▶️ 3Speak
And we are always standing with Decentralization.
I agree. Right now it isn't about what blockchain you invest in, or what alternative money system you use. Right now it is simply about using blockchain and alternative money systems.
Time will tell who the winners are and hopefully, the winners will be like millennials, everybody gets a participation award and all participation awards are worth something.
Summary:
In this video, the speaker discusses the evolution and direction of the cryptocurrency industry, emphasizing the importance of learning from failures, overcoming ideologies to focus on solutions, and the ongoing shift towards decentralization. Examples are given of projects like EOS facing lawsuits due to centralization issues. The speaker also highlights the growth of the crypto industry, mentioning the increasing number of tokens, projects, and value in tokens, as well as the potential for the development of games where users can earn different tokens. The significance of attracting developers, the dangers of centralization, and the necessity of pushing towards decentralization rapidly are also discussed. The speaker stresses the importance of user engagement within ecosystems like Hive and the ultimate goal of building decentralized systems to challenge the traditional financial system.
Detailed Article:
The video opens with a reflection on the current state of the crypto industry, highlighting the phases of experimentation and the inevitability of failures in the early days. The speaker emphasizes the need to shift focus from ideologies to practical lessons and solutions to drive the industry forward. Central to the discussion is the concept of decentralization as a movement rather than a fixed goal. The narrative suggests that continuous decentralization is possible, delineating the industry into two camps: centralized and those moving towards decentralization.
Examples are provided, such as EOS facing legal challenges due to centralization concerns, with the speaker hinting at potential settlements due to the financial resources of entities like Block One. The speaker further eases into the topic of decentralized governance by mentioning projects like Steemit, Tron Foundation, and Ethereum's transition to proof of stake, pondering the extent of influence these entities may exert.
The conversation shifts towards the growing ecosystem within cryptocurrencies, noting the expansion of tokens, projects, and value, complemented by new initiatives such as airdrops and expanded altcoin trading on platforms like Coinbase. The potential for users to engage in games and earn tokens is explored, underscoring the value in unique digital assets and the development of a diverse range of games within the crypto space.
A crucial theme throughout the discussion is the importance of decentralization for fostering user engagement and building wealth within ecosystems like Hive. The speaker underscores the need for diverse whales—individuals with significant influence and resources—across different projects to prevent centralization of power. The ultimate aim is to create a decentralized financial system that challenges traditional centralized structures.
In conclusion, the speaker leaves viewers with a call to action, advocating for rapid progress towards decentralization from every level, including applications, ecosystems like Hive, and the broader cryptocurrency market. The warning against extreme centralization is reiterated as a threat to the entire movement, emphasizing the vulnerability centralization poses to potential takeovers by entities with substantial financial resources. The video ends with a positive note, encouraging viewers to stay engaged in the evolving crypto space.