From a personal privacy point of view it seems significantly worse to me, but I guess the positive spin would be that there isn't a single party that can simult

From a personal privacy point of view it seems significantly worse to me, but I guess the positive spin would be that there isn't a single party that can simultaneously blackmail / breach the privacy of a billion people. Although my counter spin would be that in the event of one of these decentralized things going mainstream, a large player would end up being what gmail is for email.