A large-scale failure of Microsoft’s system applications on July 19 caused serious disruptions in many critical sectors of the global economy. However, the cryptocurrency sector and Web3 applications continued to function without interruption, demonstrating the resilience of decentralized systems.
The global failure of the international technological infrastructure built on Microsoft products led to significant problems in the operation of:
- London Stock Exchange
- Airlines and airports
- Banks
- Utility companies
- Telecommunications companies and communication facilities
Resilience of the crypto sector
While traditional financial systems faced serious difficulties, major cryptocurrency exchanges and DeFi projects continued their operations without interruption. Crypto company executives and industry insiders noted that the decentralized nature of blockchain makes it less vulnerable to single points of failure compared to centralized systems.
Advantages of decentralized technologies
This incident clearly demonstrated the advantages of decentralized technologies:
- Absence of a single point of failure
- Increased resilience to failures
- Independence from centralized infrastructures
Despite the demonstrated resilience, the crypto industry faces its own challenges. A recent report by Swiss blockchain company CV VC on the results of a study of the African blockchain market showed a 74% year-on-year decrease in venture investors’ interest in financing the industry.
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