Condescending in which way? To dare to dream of an alternative which provides more equitable value to billions of people? It’s no coincidence that cryptographic money grew off the back of a financial crisis which punished none of the people who profited from the demise of so many. Money is broken. Younger generations can no longer afford to live the lives previous generations expect as a birthright. I find it naive to suggest PoW can be used as a critique when we have willingly inflicted such damage on the planet through fossil fuel consumption driven mainly by our egotistical desire for bigger cars, homes, holidays and everything else. Bitcoin didn’t exist until a decade ago and the environmental damage is used as a stick to beat it with? Please. Those pedaling those fallacies benefit from the status quo.
Fiat and Crypto needn’t exist in isolation. An increasing volume of our economy is digitized, where it makes little sense to operate in atomic units of value which require friction to exchange. Not only that, the denominations are too large to allow for the emergence of a more decentralized web.
I frequent Reddit and telegram, and as the rise of finance and the internet before it, there are good actors and bad. Every ‘gets rich quick’ scheme that exists in cryptopia is replicated from somewhere else.
To look at the innovation through the lens of what currently exists misses the point. The key is understanding the impossible which isn’t tangible. That is where innovation will occur. The onus is on innovators to deliver those things in a way which delivers mass consumer benefit. That is what I am building personally.
Privacy has been destroyed by ‘Freemium’ business models
We don’t own our data and can’t maximize its value
Our attention is the currency exploited everywhere online
Consumers currently have no alternative to this
Crypto gives them an opportunity to not just own their data, but profit it. Use it as a currency. To do that the boundaries between the digital and the analog, finance, data, health, education, and life as we know it.
What we need are digital passports linked to a digital self which allows us to participate in this world. What we require are data banks to store all our information personally rather than on hundreds of servers which can be hacked around the world. What we need are the tools to enable these things in a frictionless manner, where we can buy and sell energy from a complete stranger and trust that we will get paid without expensive intermediaries.
What we need are tokens and smart contracts to enable this to emerge.
If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.