Decentralization for Web3 Builders: Principles, Models, How

The article argues that decentralization for web3 should be treated as a single design challenge spanning technical, economic, and legal elements, since design decisions in one area affect the others. It says programmable blockchains, composable smart contracts and digital assets make decentralized systems able to coordinate and operate at new levels, though the more familiar DeFi models may not fit more complex products. For the legal element, it focuses on U.S. securities laws and the Howey test, suggesting a system may be "sufficiently decentralized" if it eliminates significant information asymmetries and reliance on the managerial efforts of others. The article notes that most businesses will not meet this threshold.