Why Does Decentralization Matter in 2024?


Decentralization has become a buzzword in the past couple of years and sent the technological world in a tizzy with the introduction of decentralized identity. Since this approach is the opposite of centralization in every way possible, it would make sense if people were apprehensive of the technology. Instead, this approach is gaining more followers by the day. But why is that, and why does decentralization matter in 2024? Let’s find out.

Reasons Decentralization Matter in 2024

In theory, decentralization is a simple concept. It is basically the transfer of control from a centralized authority to the public at large. The centralized authority could represent a person, an entity, or a managing group.
Decentralization aims to give the masses a voice and give them a say in the decisions that impact the smaller factions. Simply put, it democratizes systems and processes.
While this is enough to make this concept popular, this is just the tip of the iceberg. Decentralization is gaining traction and matters in 2024 because:

● Promotes equality: Decentralization democratizes centralized systems and processes, giving the previously ignored masses and sections a chance to get their voice heard and make a real difference. This prospect isn’t a fable or a far-off dream, either. Decentralization makes it possible. It also promotes inclusivity and views everyone equally.

● State-of-the-art security measures: Decentralization doesn’t just move away from centralized processes or operations. It also steps away from centralized IT infrastructure. It connects several nodes (or computers) together, so that the power gets distributed among them. Since there’s no central authority involved, there are less chances of security breaches. Moreover, power outages or cyber threats don’t shut down the operations or affect the entire system. Blockchain is a decentralized technology and is touted for its security.

● Supports privacy: Decentralization supports privacy with decentralized identity. This means that your personal information won’t be easily accessible to anyone who has the clearance or means to check up on it.

● Promotes innovation: Decentralization also enables innovation. For instance, dApps (decentralized applications) are digital programs or applications that can fulfill various purposes and are created on decentralized blockchain. They are open source, rely on cryptographic tokens, and are known for their transparent public record.

● Allows users more ownership: In a centralized system, your information isn’t yours after you share it with a third-party. This isn’t just related to information, as your intellectual property (like art) can also be stolen by someone for personal gain. However, decentralization changes the name of the game. It gives users complete control over their data and helps them maintain ownership of their digital assets. It also allows users to keep track of the ways their data is being recorded by companies and used.

Decentralized blockchain is the future. However, this technology can seem complex if you’re new to this side of technology. But don’t worry. You can use ProofEasy. A patented blockchain and QR code solution that will keep your uploaded documents secure and make them immutable.
Take advantage of decentralization by signing up on ProofEasy today!