Early on, we did not have a problem with centralization, in fact centralization was very much necessary for judicious flow of resources.
We did not have a problem with centralized institutions processing our transactions either.
There rose a problem where the centralized institutions displayed bias.
They were biased against the adult porn industry, Julian Assange and many other innocent people. It perpetrates from the tree that they are acting on behalf of the government who, at that point were biased.
With induction of bias into a system where there were no other options to serve our people, the world craved for a respite.
If a bank wouldn’t process your transaction, you could go to a different bank, but if all banks were biased, thanks to the government against processing your transactions, what would you do ?
The centralization of power wasn’t a problem as long was it wasn’t biased.
Induction of bias into large centralized entities that have no replacement is a grave problem.
Muneeb Ali’s Ted talk talks about how no one single entity should have that much power such that we are at the mercy of their goodwill alone.
Induction of bias into large centralized organizations that have no replacement will leave you cornered. You will have no other options.
That’s not the kind of world we want to live in. We want options.