Centralized blockchains cannot change the rules of the game. OBS will
Last weeks’ top news on crypto-Twitter (and beyond) were about Mark Zuckerberg’s words and multiple pieces of evidence pointing to the still not defined strategy of the Facebook to enter the crypto market with its own coin.
The pattern to a centralized adoption
The social network giant is thus showing an era where centralized Blockchain acceleration in adoption will significantly change the future of crypto economics as it is starting to intersect with payments.
It is known, in fact, that the whole network (which includes Instagram and WhatsApp) is going towards the implementation of social commerce features, which will be probably gradually integrated year-on-year.
Concern over privacy issues may also speed up the process, since that may mean a U-turn for the nature of big-F revenues and for investors’ expectations (users data as a basic instrument for addressed advertisement). Privacy, blockchain, decentralization, and secure payments have always walked hand-in-hand. A company like Facebook will probably opt for a centralized model of technology.
Generally speaking, that may or not be good news for adoption: the future is yet to come, and we will see.
Centralized monopolies hardly change their business model, and whether they do, that is not for redistributing profits
Having a major corporation implementing its own native cryptocurrency means the way we all perceive the future of currency itself would shift. Best developers and software engineers will be involved and pushed to work on the front line of innovation, backed by strong investments and solidity.
Can we expect an effective “game changer” from centralized platforms?
The Amazon hypothesis
Speaking of digital payments, a company which may actually get first to its own cryptocurrency is Amazon. We know about their investments on blockchain technology, but the application of an “Amazon Coin” may be as diverse as the offer of product and services is (goods delivery, streaming, games, etc.). What else? Amazon already has an ecosystem of partners and customers both on the consumer and on the business side.
So, what’s wrong with that? Think about it: none of these perspectives actually changes the user experience, except using branded coins instead of fiat money. Centralized monopolies hardly change their business model, and whether they do, that is not for redistributing profits.
Who will live on a blockchain based version of Amazon (or any other centralized giant) e-commerce?
“Big Fishes” only: distribution channels already strong enough to pay high fees and afford an unbalanced relationship with the platform.
Decentralization: the real game changer
Blockchain and encryption technology are built on the purpose of achieving true decentralization. The idea behind this technology is to provide people with new solutions. A chance to change the current status quo. Maybe a path to go towards a fairer version of the whole Internet, probably closer to its original Utopia.
More than anything, in the contemporary age of digital retail commerce, the first key to make the economy healthier again is true decentralization. This way the social commerce environment will develop “without a company”: in the OBS model, the platform will be just a “host”, a member of the benign cycle and not the catalyser of traffic and profits of the current model.
Users, both consumers and distribution channels, are finally people.
If the strength of the token economy system stands in the ability to redistribute value, the decentralization feature descending from the blockchain architecture stands in the redistribution of rights and responsibilities.
OBS system of social commerce wants to bring more and more equity in society: consumers are more than clients, shopkeepers can provide their goods and focus on the quality of their product instead that on the rules of a third party which is eating the biggest slice of the cake coming from the value actually created from that same producer and from the final consumer.
How many of these features can a blockchain system born within a centralized giant abide without undermining the basics of its own monopoly of power and value?
That is why blockchain technology is called “disruptive”, and that’s why OBS protocol and its token economy system together are the best model for new-retail social commerce. A model that with the means of the economy can be spread throughout the whole society to bring more equity.
Join the revolution!
Monopolist giants’ crypto projects: decentralization to bury them was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.