Decentralization is, in many ways, the beating heart of blockchain. When combined with tokens, the metaphorical blood coursing through the commercial ecosystem, decentralization determines whether you and other network participants operate as true peers with equal ability to derive value or whether some actors reap benefits out of proportion to their contribution. If you hope to participate in blockchain-driven digital markets and derive the maximum benefit from blockchain, decentralization is not optional.

Although the blockchain-complete phase of the spectrum won’t begin until about 2023, experiments in decentralization are already under way. If your customers are frustrated about something, ...

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