RE: World Economic Forum Says...You Might 'Question the Hype Around Blockchain'

Thanks for this, and I hope it doesn't go completely unnoticed in the Steemit echo chamber. I think these are questions that are really worth asking! I think something that probably compounds the problem is that there seems to be a really deep misunderstanding among crypto nerds about some fundamental facts about decentralization.

I hear way too often that "decentralization is more efficient than centralization." That is, nearly by definition, not true. Decentralization comes with significant costs; see Ethereum, for example. Ethereum has many thousands of GPUs available to it, but the Ethereum Virtual Machine can only process one instruction at a time. That's an extreme consequence of the particular flavor of decentralization that the blockchain forces you into.

Of course, decentralization confers benefits as well, but in choosing the decentralized architecture, you've got to weigh the costs.

Thanks agains!