It is not only about being financially decentralized through Bitcoin, but it is also about trying to create an entire decentralized network of different blockchain communities and sectors for a new era of decentralization to come to fruition.
ICON has decided to try to create this blockchain architecture in a way that further forces more significant decentralization and community involvement.
If blockchain is the answer to a decentralized society, it is still in its embryonic stages and needs a boost towards a new heading.
Blockchain decentralization can be a relatively insular and isolated undertaking as it stands, with proof-of-work a race to get the next block rather than active involvement in a community.
Having these P-Reps in the network hands the control of the blockchain architecture to the people who are using it, they are incentivized to advance the network.
It is through this avenue that ICON hopes it can create a fully decentralized blockchain architecture, and that it can advance blockchain decentralization to its full potential.
Currently, the possibility is there with blockchain, but because of other factors, decentralization is usually a front.
With decentralization at its core, with a voting system aiming to include all corners of the ICON network, and P-Reps set to be fairly chosen, the network should obtain a far higher degree of decentralization than has been seen in these early stages of blockchain development.
ICON can connect independent blockchains without the use of additional third-party intermediaries.
Various blockchains can communicate with each other through the ICON platform.
Evolving decentralization in a world let down by centralization
Publié le Aug 23, 2019
by Cryptoslate | Publié le Coinage
State-Owned Chinese Bank to Finance Small Businesses With Blockchain Tech
China Construction Bank, one of the nation's "Big Four" state-owned commercial banks, launched a blockchain-based platform to support the financing of small businesses on Friday.
Santander Exec Claims Blockchain Success as Bank Redeems Ethereum-Issued Bond
Spanish banking multinational Santander has redeemed a bond worth $20 million that it issued on the public ethereum blockchain in September.
Danish Tax Agency Sends Warning Letters to Suspected Crypto Tax Evaders
Denmark's tax authority, the Skattestyrelsen, has been sending letters to cryptocurrency users it suspects of tax avoidance, demanding a range of information about their trading activities.
Nic Carter on Quadriga, Libra and Other Suspect Projects
Carter does believe crypto - especially bitcoin - will change the world for the better.