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5 Decentralization Trends to Watch in 2020

Entrepeneur 27 Apr 2020 03:30

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5 Decentralization Trends to Watch in 2020
Image credit: Issaro Prakalung/EyeEm | Getty Images

In March 2020, IHS Markit Chief Economist Joel Prakken announced a popular consensus among economists that the financial stress stemming from the coronavirus epidemic will inevitably weaken 2020 economic growth. In just the past four weeks, over $4 trillion in household wealth has been wiped out in the public markets in the United States alone.

As retail investors and institutions brace for further volatility, there has been a consistent rise in the number of people looking to have more control over the situation. This includes personal finances, how their time is utilized, how to best assist people in need.

And in the midst of all this, there's a trend of individuals and organizations disconnecting from centralized systems that may be doing more harm than good. 

In a nutshell, decentralization can be defined as the transfer of authority from central to local government, organizations and even people. The Harvard Business Review predicts that the current economic situation around the virus will “hasten the progress to more decentralized global value chains.” As this expected macro-trend continues to progress, the impact on technology and entrepreneurship will provide many new opportunities for disruption. Below are five anticipated decentralization trends in 2020. 

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IHS MarkitChief EconomistJoel Prakkenentertainment MGMblockchain
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