DecentraTech Collective Spins Out from Austin Blockchain Group to Accelerate Decentralization for Business
DecentraTech leverages blockchain and other transformational technologies to enable decentralized models to securely scale to meet business needs
AUSTIN, TX, February 23, 2021 — The DecentraTech Collective, an open community with a common focus on accelerating the understanding, development and adoption of decentralization technologies, announced today that it has commenced operations as an independent organization. Previously, decentralization technology and decentralized applications (DApps) has been a focus area of the Austin Blockchain Collective, which has operated since February 2018.
DecentraTech – short for decentralization technology – underpins the implementation of decentralized business. It comprises a set of innovations, including blockchain, cryptographic proofs, peer-to-peer messaging, decentralized storage, edge and serverless computing, as well as Web 3.0 concepts such as self-sovereign identity. The DecentraTech Collective has defined a DecentraTech Stack to encompass technologies appropriate to decentralization, and their roles in enabling it.
Interest in decentralized business models has accelerated in recent years, driven by an increasing and palpable belief that traditional centralized approaches, as typified by the business models of Big Tech companies, are increasingly detrimental to individuals’ rights and freedoms. Recent controversies related to the censorship of political leaders on Twitter and the exploitation of personal information by Facebook and Google are examples of the perils of centralized control.
As with FinTech, MarTech and RegTech, we expect DecentraTech to be adopted as a shorthand term among innovators looking to lead businesses toward decentralized models. With a global outlook that has been accelerated by the COVID-19 pandemic’s shift to remote work, the DecentraTech Collective will work with a roster of world-class partners to provide both education and practical advocacy initiatives to accelerate the journey to a decentralized future.