Dear Readers,
I ended last Friday’s letter with the following critique of the powerful fascination with pseudo-decentralization that the “Crypto” space is trying to nurture in its adherents:
Decentralized money is an idea worth developing and fighting for (hence the popularity of Bitcoin). But the success of decentralized money does not mean that every service and process in the world needs to be decentralized, and that’s a lesson I believe many in the community will learn over the coming years.
I realize that comment may be difficult for many Readers to digest, since the last decade or so has seen an explosion of blockchain solutions claiming to be able to decentralize everything from personal identity to supply chains to voting. So in today’s letter, I hope to share one of many things that would be better off centralized: corporate takeovers.
