There are certain technologies that were created by enthusiasts that could have never been build inside a corporate boardroom. Mountain-bikes are a good example of this. Also the entire MOBA gaming genre was created by enthusiasts. Crypto is one of those things that can't be developed in the top-down approach that we are used to. Intellectual property itself is no longer applicable, so it is actually impossible for corporations to lock it down and suck the life out of this movement.
Big Tech is about to become open source. If Google or Facebook was open source, on top of it being impossible to protect their brand and issue cease and desist letters... there's really no way for them to hang on to their IP at this point. It's going to take decades and perhaps entire lifetimes to rebuild an empire after this one crumbles to dust. I can't even fathom what such a future would look like. I assume inter-galactic and perhaps even inter-dimensional.
The decentralized idea isn't new, Linux and Firefox were built on the idea of decentralization called.. Open Source.
It's a once in a decade fad really.
While I hope you are right, I find myself watching everyone follow Elon and Jack.. and I have my doubts.
Time will tell!
Posted Using LeoFinance Beta
The key difference is that Linux had no way to fund its own development.
Open source tech has always relied on altruism and generosity.
Now Open source tech is funded by greed, and that is extremely powerful, however horrifying.
Agree but I think it will not happen so dramatically fast.
Because there are enough players that will fight massive first. I think the FUD we saw from the past will 10x first, new regulations come into place, prices will dump massive,
before the people see, even after this, the strong chains still stay.
It will kill all meme coins, all centralized coins, and so on. And this will open the door.
Square as a payment provider needs to adopt like Paypal. So I don't wonder about that. But it's old institutional money and also authorian. so I don't see it bringing anything into the space.
I expect a lot of companies will follow to extract some money out of it.
Excellent point!
I think ultimately the traditional corporation will die, and be replaced by DAOs and DACs, which can scale up to millions much easier. The problem I see here is tribalism. We've already seen what Bitcoin has done to the maximalists. These DAOs are going to turn into legit cults, and those cults are going to start doing some super fucked up shit and justifying their bullshit behavior.
That's when other DAOs will have to team up against these toxic cults, and inevitably I can see that leading back to a state of empire where many communities and currencies are bound by the rulership of a "higher authority". Whatever happens, gonna be super fucking weird. I can guarantee that much.
Obviously not gonna be all sunshine and rainbows.