Many people are not aware of why blockchain is a big deal to the internet, and also have no idea why they should go decentralized with web3.
Decentralization has many benefits for organization, economy and even societies. Decentralization is what put the power of decision making in more distributed and diverse parties.
There are several advantages of decentralization which are:
- It can increase efficiency, innovation and responsiveness by allowing more people to participate and contribute to the process.
- It can reduce bureaucracy, corruption and inequality by creating more accountability and transparency.
- It can enhance diversity, democracy and empowerment by giving more voice and choice to different groups an perspectives.
The relevance of decentralization is more evident now in this digital age. Scaling economies and organization requires this decentralized technology to function properly.
Decentralized LEDGER technology is aiding to crowdsourcing, peer to peer networks, supply chain. It also addresses monopoly, censorship vulnerability of the majority.
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