There is a "too much at stake problem" for large companies launching decentralized networks.
- @Libra_ shifts away from permissionless model
- shuts down
- threatens "partnership termination" with an exchange looking to list KLAY
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1/ While large parent companies are helpful in driving initial adoption, they also prevent core teams from making the right decisions for the network when the potential regulatory (=economic) risks become too large.
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2/ It's by no accident that the most successful live networks today have been stood up by people with very little to lose and hence little to fear from regulatory pressure. Having "nothing at stake" is crucial in blockchain creation.
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3/ Borrowing words from TON's shutdown post, the battle for decentralization is the most important battle of our time. Perhaps now is the time to appreciate the warriors that rushed to the trenches with no fear in their hearts.
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Yes, there’s strong conflict of interest. Corporations are all about ownership and control, which is directly against the ethos of a public blockchain network.
This is exactly why when we started the ICON project, we made sure no affiliated companies received tokens.
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I have to say recent Klaytn vs. GDAC story is infuriating and embarrassing for the Korean blockchain industry.
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