The tendency for any new business model is for it to become more centralized over time so that its operators can extract a bigger share of the value captured by the business model. This is also true of sharing economy business models. The operators are motivated to devise ways of extracting more value. This is not all bad. It incentivizes risk taking, investment and the resultant innovation. This cycle of decentralization technology unleashing value co-creation that then becomes relatively more centralized will continue. But each time the cycle completes, most but not all will end up better off. Some will be hurt badly. The key is to moderate the swings in the cycles to minimize the bad side effects but foster an upward spiral of value co-creation and incentivized risk taking. The old way to minimize bad side effects was centralized governmental regulation (which induces its own bad side effects). The new way to do this is to use more virtuous decentralized self-regulating systems. Blockchain enables but does not ensure virtuous self-regulating systems. We have to show why they create more value for all participants.