FIVE FUNDAMENTAL REASONS WHY PUBLIC BLOCKCHAINS FAIL TO DELIVER DECENTRALISATION

1. SHORTCUTTING. Centralization is cheaper and faster for coordination.

Institutions already control infrastructure, compliance, and liquidity. Public #blockchains are slow, costly to coordinate at scale, and socially fragile without shared incentives.

2. LAZINESS. Users trade sovereignty for convenience.

Most people do not want to manage private keys, verify chains, or operate nodes. They prefer custodial wallets, exchanges, and #banks—creating a natural pull toward central hubs.

3. CAPTURE. Liquidity and regulation favor big players.

Capital pools, fiat on/off ramps, and regulatory approval flow to large, centralized intermediaries. #Institutions can consolidate control where network effects and legal clarity exist.

4. CRITICAL MASS. Decentralization is hard to sustain socially.

Public blockchains distribute technical #authority but not necessarily governance or influence. Mining pools, validators, and DeFi platforms quickly accumulate power, reintroducing hierarchy.

5. HABIT MARKETING. Narrative vs. practice.

While blockchain is marketed as “trustless,” in practice, adoption has followed the familiar logic of centralizing around trusted #brands and scalable #custodians.

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