When Bitcoin brought the notion of decentralization to the centralized world, many wondered how this would transpire. Fast forward more than a decade later and the power held by decentralization can now be felt the world over.
Bakary Thaore wrote in October 2001 in Action Collective, (A Burkina Faso Publication on decentralization) that:
“Decentralization … confers onto local communities the power… to manage their affairs in order to promote their own development.”
In blockchain, the same principles inferred by Bakary apply, the transfer of control and decision making from centralized entities (groups, organizations, or individuals) takes place and it rests onto a distributed network.
This means that within the crypto ecosystem, we see ourselves as equals and no central authority can rule over another. This is why after the birth of Ethereum, Bitcoin did not come out all guns swinging claiming that they were here first and Ethereum should cease and desist in any crypto-related actions. The same can be said about the father of ‘memecoins,’ Dogecoin.
