Decentralized or Re-Centralized Blockchain

Has Bitcoin, the first product of blockchain technology, lost steam? Given the amount of funding going toward blockchain infrastructure, there may be a lot more space for expansion. Many people who decided to invest in Bitcoin early, at its beginnings, have had their lives transformed forever. Since reaching a peak of $64,000 less than a year ago, Bitcoin has lost more than 60% of its value. Despite this enormous setback for the most valuable cryptocurrency. Development of blockchain technology and web3.0, a new technology facilitator, continue to attract investment resources. Can they all be mistaken?
The adage “Follow the Money” tends to commonly result in investment opportunities when used. Major businesses and financial institutions are swarming with cash to invest in blockchain infrastructure, the newest and greatest invention of our time.

When I visited the HSBC home page to do some research for this post, the words “Web 3.0” stared at me. Nothing else on their homepage was more dominant than those letters and figures. Sincerely, I was taken aback to see those words prominently displayed on a bank website. They should be available on a Japanese web development site like Stake, in my opinion.

Recently, Meta reported a second quarter loss of more than $2 billion USD. When asked about it, CEO Mark Zuckerberg. He answered by making the casual remark that the project will be costly and that they are committed to being a member of the Metaverse and WEB 3.0 at its inception. Personally, I wouldn’t have responded so nonchalantly after the stock price dropped by almost 26% and the company lost $2 billion in the second quarter on top of the terrible year-end 2021 earnings reporting. That value, incidentally, has not yet been reclaimed.

To participate in this early, Zuckerberg revamped Facebook and gave it the new name Meta. As the first major national television network to adopt the Metaverse, CBS has contributed significantly to its rapid expansion. I’m sure that CBS already has some involvement in the NFT market and will expand upon it if their initial drop is successful.

To this new technology, CBS contributes old money and a robust marketing presence. The Redstone family has owned National Amusements, the company that owns CBS and is linked with Viacom and Paramount, for three generations. I refrained from going any further. It smells and appears to be old money. Perhaps it is outdated currency.

Disney has made intentions to create their own Metaverse public, and they have considerably more financial resources than Mark Zuckerberg of Meta. Fox News, Pixar, and ABC are all owned by Disney. They are preparing to inform Meta that there are additional factors at play in this brand-new community known as the Metaverse.

Thus, HSBC, the bank, is involved. The Columbia Broadcasting System, or CBS, was involved. The leading entertainment company, Disney, is working hard to take part in this. I don’t see how the term “Decentralized” can be applied to cryptocurrencies when I consider these companies and what and who they stand for. Bitcoin is the foundation and benchmark for cryptocurrencies. Bitcoin may no longer qualify as decentralized. It appears like Bitcoin may have opened the door for banks and large industrial conglomerates to be free from governments and kings, leaving the general public at their mercy. Bitcoin was created to liberate its owners from the tyranny of banks and kings.

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Bitcoin is at the core of blockchain technology, which is here to stay. Cryptocurrencies ought to be reclassified as decentralized instruments, in my opinion. a type of money that is not regulated by banks or governments but can be used to purchase goods and services. but governed by corporate bodies with predetermined plans and profit-driven objectives.

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