Decentralization's Challenge to Policymakers is Coming

CoinDesk
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PUBLISHED ON: October 22, 2021

Preston Byrne, a CoinDesk columnist, is a partner in Anderson Kill’s Technology, Media and Distributed Systems Group. This op-ed is part of CoinDesk’s Policy Week, a forum for discussing how regulators are reckoning with crypto (and vice versa).

“Decentralization theater” is something that crops up in my inbox on an almost daily basis. By this I mean the development, release and marketing of software that leverages decentralized infrastructure for one, several or even most of its components, but not all of them.

The principal reason why an entrepreneur might decentralize most, but not all, of the things, is obvious: Although calling a product “decentralized” is edgy and in vogue, writing software is a messy business that is never truly complete. Writing software on a blockchain is an especially messy business that is very difficult to fix.

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