The CEO of StarkWare is sounding the alarm that enterprise blockchains will not succeed without adopting the concept of decentralization and self-control, which is the main idea of crypto.
StarkWare co-founder and CEO Eli Ben-Sasson tightened his grip on the future of blockchains in businesses.
Ben-Sasson echoed this in recent comments about X that corporate-created and managed blockchains are unlikely to survive.
Source- X
He emphasized that the most important aspect of blockchain is the elimination of central actors to empower users.
Otherwise, it can be concluded that corporate chains will become redundant as users will move to networks where they can enjoy the benefits of self-management and control over their assets.
Even with complicated technology such as account abstraction to make the user experience easier, the main principle of blockchain decentralization cannot be compromised.
Ben-Sasson noted that while corporate chains may alleviate the intimidation of blockchain and encourage adoption in the short term, they present a bleak future in the longer term.
The failure of these chains to deliver the true user value of decentralized finance (DeFi) and self-control benefits will result in technical headaches and corporate disinterest.
The more users insist on the ability to control their assets, the fewer companies implement chains that keep them centrally controlled, leaving behind a costly but unattractive infrastructure.
Decentralization or Death: The Blockchain Imperative
By introducing the ethos of blockchain, Bitcoin aims to reform centralized finance and return power to the people.
Corporate-controlled blockchains do not align with this core idea because they put control in the hands of the company.
Ben-Sasson described non-decentralized blockchains as inferior technologies with no future or practical use.
The rise and subsequent decline of corporate blockchain initiatives in trade and finance are a good illustration of this dilemma, with numerous platforms having returned to conventional central databases for efficiency reasons, reflecting how challenging it is to ensure corporate power within the chain.
This black and white contrast is causing controversy in the crypto community. Some say that corporate chains would do well if they focused on their own businesses, but that wouldn’t encourage user participation.
This view from Ben-Sasson shows a certain kind of growing distrust of corporate chains as the crypto community places more emphasis on DeFi, self-restraint, and permissionless innovation.
The enterprise blockchain model must transform to adopt these principles or it will become obsolete
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