Ethereum [ETH] Co-founder discusses effective initiatives favoring decentralization
In a video published by the YouTube handle of Web Summit on 8th November, Joseph Lubin, a Co-founder of Ethereum delivered a talk addressing the upside potential of Web 3.0. Here, the Consensys CEO spoke about decentralization, throwing light on how the feature eliminates top-down hierarchical operation and promotes equal say of everyone involved.
According to Lubin, decentralization is the primary organizing characteristic of Web 3.0. Furthermore, he stated that the concept of decentralization arose over the recent years due to the backlash in many operating structures. This includes the operating structure of the financial world as well as the loss of trust and centralization in government institutions and suchlike. He added:
“Centralized top-down control may have served humanity well when communication and decision-making were slow and expensive but now we have global instant communications. We can make decisions together within 15 seconds on the Ethereum blockchain, even if…
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