Yea, not really. The wild west was wild. People used to make up their own banknotes, there were fraud and schemes everywhere. We take for granted that our bank won't steal our deposits, that's a new concept. Most of that is derived from some degree of 'centralization' - that said - it's definitely not this 1-to-many scheme that the language implies. The Fed has immense power, but is not really in your business. You can exchange money with whomever you want (almost) and it's none of the Feds' business.
Much like 'AI' I think this word 'decentralization' triggers something within.
It's worth considering that impulse (i.e. freedom is really important, and we should think about it), but also needs constant contextualizing.
What your describing is just a different, more local form of centralisation. If your bank manager gets to refuse to give you your money, he has all the power. That's very very centralised, even if it's centralised in him, not in a CEO or a president.
I have 4 accounts at 4 different banks. If one of them refused to hand the cash over, even without any redress, I have 3 other accounts to fall back on. So my life is much less centralised than Wild West Bill.
The same applies to almost all elements of life. Back in the wild west, no one would date you if you didn't go to church. The priest literally had centralised power to refuse you a partner (and God help you if you were gay or the wrong colour or from a "bad" family). Today no one knows or cares. Very very decentralized. Ditto employment or housing or crime and punishment.
The bank manager will go to jail if he doesn't give you your money. And then the bank will give you your money. There is a 'system' of laws and regulations.
This is unlike true decentralization i.e. 'trustless', which, paradoxically has to be based entirely on trust.
Much like 'AI' I think this word 'decentralization' triggers something within.
It's worth considering that impulse (i.e. freedom is really important, and we should think about it), but also needs constant contextualizing.