Ki Young Ju, founder of Crypto Quant, said in a post on X: “Some people think that decentralized organizations are a failed concept, I disagree.
Of course, many decentralized projects fail. The main reason for failure is that early participants make significant profits, often become complacent, and those who join later have difficulty reaping the rewards.
Balance is key. Complete decentralization is not always necessary. The core idea is to maximize individual benefits, consistent with capitalism. The concept is reasonable, but still in the exploratory stage, seeking the right balance.
Collaboration on the internet deserves a decentralized approach. For example, Wikipedia, a platform for archiving information, might work more efficiently in a decentralized manner. In fact, there is a project called Everipedia dedicated to this. However, the reason it did not succeed may be that a new team cannot easily catch up with Wikipedia's decades of experience and expertise. Finally, Wikipedia itself needs to issue its own token, but this will be difficult without proper regulation.
If proper regulations can filter out scammers, large companies or promising teams will also participate in this experiment. On the other hand, without regulation, scammers will continue to thrive and the potential of blockchain technology will be buried in disgrace.
Web3 needs proper regulation — unless advocating for decentralization is equivalent to advocating for anarchy.”