At the recent #EthCCEthereum conference, founder and author Camila Russo highlighted the facade of #decentralization in the crypto industry. She observes a disconnect between crypto's promises and reality, with decentralized finance ( #DeFi ) and #Web3 facing issues of centralization and theater. Russo critiques the immutability claims of DeFi, stating that most projects can be controlled by a few individuals. She also points out the superficiality of crypto's governance systems and the concentration of power among founders and investors. Russo calls for transparency, emphasizing that true decentralization should be pursued or acknowledged when intended. Despite concerns, she believes in the potential of DeFi to bridge real-world transactions, but calls for a shift from theatrics to meaningful progress.

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