Will everything get decentralized eventually? Is that good?

You have heard that power corrupts and absolute power corrupts absolutely. We get starry eyed about people cutting through the clutter and paving the way for us to follow. We look up in awe at powerful people. When we play Monopoly (the board game), we love the feeling of taking over everything and concentrating power. Yet, when we do get power, we get all awkward.

Decentralization is happening everywhere

Decentralization is a global revolution transforming power and control. From India to Europe to Australia, this shift is dismantling traditional hierarchies and empowering individuals and communities.

Telemedicine and digital records are decentralizing healthcare. Netflix allows us to be free of a TV schedule. Gig work and remote work decentralized the office space. Ride share cabs like Uber and Lyft decentralize transport just as Airbnb decentralizes the hoteling experience.

Why Decentralization?

1. Offers flexibility & personalization: Consider Swiggy , India's massive food delivery service. It is decentralizing the dining experience. Swiggy connects diners with restaurants and delivery drivers, decentralizing the dining experience. You choose what, when, and where you eat, breaking away from conventional dining constraints. It is also taking away the notion of a shared family meal. Common meal timings, common food items and sharing is a thing of the past.
2. Offers Transparency: In Europe, blockchain technologies are pushing transparency to new levels. Companies like Estonia's Guardtime make data breaches nearly impossible by decentralizing data storage. No central point of failure means greater security and trust.
3. It is Empowering: California's six investor-owned utilities, including Pacific Gas and Electric (PG&E), Southern California Edison (SCE), San Diego Gas & Electric (SDG&E), SoCalGas, Bear Valley Electric Service, and Liberty, offer net energy metering programs that allow customers to earn credits on their electric bills for excess solar energy. The consumers can effectively serve as the decentralized energy generators, much like the power company.
4. No Gatekeepers: The editors of the newspaper / publishing house decide if your article is good enough to be printed. They decide if the length of the article is too little or too long. Is the tone and voice in line with the personality of the publication. Blogs and websites (I have a website at https://www.abhijitbhaduri.com ) gave the writers and artists the freedom to post without constraints. (see my sketchnote collection on Pinterest.com/abhijitbhaduri/sketchnote)
5. Pin code/ Zip Code jobs: Startups like?Jumbotail?have built a marketplace platform that connects thousands of mom & pop grocery retailers -‘kirana stores’ and supermarkets, with brands and staples producers. An illiterate person can differentiate between a 1kg packet and 5kg packet if it is shown visually. The top 80 million Indians live in the top 8 metros that is another 74 million Indians who live in the next 40 cities. But once you pass the 40 cities, you have consumers living in cities with less than 1-2 million population.?About 400 million families have a family income of Rs 300,000 (About $4,000) and Rs 2,000,000 ($27,000 annually). That is a massive market. (Read more click this)

?What is driving decentralization?

• Tech Innovations: Advances in technology, particularly blockchain and AI, are the backbone of decentralized systems. They allow for secure, transparent transactions without centralized oversight.
• Cultural Shift. Globally, people are losing faith in centralized institutions. Decentralization offers a fresh paradigm, where trust is built not on hierarchy but on distributed networks and mutual interests.
• Economic Opportunities. New business models are emerging. Peer-to-peer platforms like Etsy enable artisans to reach global markets directly, bypassing traditional retail channels.

So what do I do about it??

For individuals, decentralization means more control over personal data, finances, and choices. For organizations, it promises operational flexibility and increased customer trust. But this new freedom comes with responsibilities.

1. Understanding the technology and principles behind decentralized platforms is crucial. Knowledge will help you make informed decisions and embrace new opportunities. Too many choices make it hard for the person to feel that they have chosen well.
2. Companies should adopt transparent practices that build trust. For instance, openly sharing how customer data is used can enhance credibility.?
3. Stay informed about local and international regulations affecting decentralized technologies and services. Compliance will not only prevent legal headaches but also assure customers of your integrity.

Microcredentials are giving students the opportunity to build skills at a low cost. Education is getting decentralized and that is the skills economy that is driving it.

I am offering a 4 class webinar on How to Grow Your Influence By Using Your Content. I want to thank kreativs.io for subsidizing the opportunity to get more people to take this up. Four classes will be held for 60 minutes each (live and also recorded if you want to revisit it later). We want to have a very small cohort so please sign up early.

1. Your LinkedIn profile is different from your resume. How do you get noticed on LinkedIn?
2. What is the strategy backed by research that will help you reach your objective.
3. What are best practices for writing posts, newsletters and LinkedIn Audio/live
4. Craft a differentiated personal brand in a crowded space of a billion users on LinkedIn.

Classes are on May 11, 18 and June 1 and 8, 2024. Sign up at https://kreativs.io/app/skills

Thank you!