Tether Promotes Decentralized Technology Solutions After Global IT Disruption

On July 19, 2024, the world witnessed a massive IT outage, affecting multiple sectors and causing significant disruption to organizations. The root cause of the issue was a technical breach in CrowdStrike's centralized software, which resulted in computer system crashes, including widespread blue screens of death (BSOD) on Windows devices.

CrowdStrike CEO George Kurtz confirmed that the issue was quickly identified and corrected. He stressed that the incident was not related to a cyber attack and urged organizations to seek support through official channels. Kurtz also assured that the company will continue to provide updates and information on the progress of troubleshooting.

Against the backdrop of this incident, Tether CEO Paolo Ardoino spoke about the benefits of decentralized technologies, proposing them as a solution to prevent such global failures. Ardoino said that if more investment had been made in peer-to-peer technology, the outage could have been prevented.

According to Ardoino, the modern Internet is largely centralized around the services of three large companies, and any problems in their infrastructure could have catastrophic consequences for countries, cities and businesses. He emphasized that high concentration and centralization create vulnerable systems that can fail with the slightest changes in the social or environmental environment.

Ardoino also noted that Tether is actively investing in Holepunch, a platform that creates applications without the need for centralized data storage. Holepunch is designed to improve application resilience and ensure reliability under extreme circumstances.

Ardoino's position reflects the views of many in the cryptocurrency market, who believe that the recent outage demonstrated the importance of decentralization. Gabor Gurbacs, founder of PointsVille, agreed with this sentiment, noting that the world is increasingly moving towards decentralized and non-custodial systems. According to him, creating a reliable infrastructure to protect against potential disasters is becoming not an option, but a necessity.

Thus, current events once again highlight the importance of decentralized technologies in ensuring the resilience and security of the global IT infrastructure.