The new ‘decentralization theater’: Crypto projects are still controlled by the few | Opinion
2025-07-09 09:38:26
Main Idea
The article critiques the current state of decentralization in web3, arguing that many platforms still operate with centralized decision-making and token allocation, undermining true community governance.
Key Points
1. Many web3 platforms exhibit centralized decision-making despite claims of decentralization, with wealthy insiders holding disproportionate power.
2. Token allocation in blockchain projects often favors investors, making community ownership more of a slogan than a reality.
3. Governance participation is low, with quorum thresholds manipulated and proposals obscured by technical language, limiting genuine community input.
4. Centralized control in web3 risks alienating users, reducing trust, and weakening the broader narrative of decentralization.
5. The article suggests a shift toward intentional design in governance to align communities by values and shared power, rather than maintaining performative decentralization.
Description
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Crypto has always promised something radical: shared ownership, collective decision-making, and communities empowered by technology. From Bitcoin’s ( BTC ) pseudonymous roots to Ethereum’s ( ETH ) programmable governance, the narrative of decentralization has inspired millions to participate in reshaping the future of finance and culture. And yet, i...
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