Is the wholesale rush toward decentralization justified? Or are we, as an industry, seeking distributed solutions for problems that don’t necessarily require them?
The global blockchain market was valued at $11.14 billion in 2022, with projections suggesting it could surge to $469.49 billion by 2030. Yet, beneath these staggering numbers lies a fundamental question that continues to divide tech leaders: Do we actually need decentralization on such a widespread scale?
The landscape of Web3 and decentralized technologies presents a paradox.
According to a study conducted by the crypto exchange Binance, venture capital investments in the top ten Web3 projects saw a significant downturn in 2023, with only $1.78 billion raised. This total is 70% lower than the $5.87 billion raised in 2022.
