I feel nothing but compassion for the people who are facing financial disaster due to #Cryptocrash. The marketing of #crypto, especially towards vulnerable populations, has been extremely effective. I fault nobody for believing in the promise of power in an inequitable world.
The inscrutable technical complexity of the #crypto and #web3 space combined with massive investment and plenty of get-rich-quick stories has created an environment where media outlets uncritically presented these things as "the future" rather than "a risky endeavour."
Even with all the research I've done, the technical knowledge of the space I've attained, the hundreds of interviews I've conducted with insiders, all of which has formed in me the opinion this is all very much not the future, I still get momentarily drawn in by the promise.
The success so far of #crypto and #web3, in spite of the obvious and irreparable flaws and harms in these ideas, is a searing critique of our status quo: Of our inequitable and plunderous financial system, of #SurveillanceCapitalism, of political stagnation.
We would do well in asking ourselves why the ideas promoted by #crypto and #web3 are so appealing, especially to historically marginalized, excluded, and oppressed populations, and what we can do to meet their needs without putting all our money into blockchain-based casinos.
#web3 isn't the future of the web or of finance; it's what happens if we don't build an equitable world where everyone has the necessary capabilities to be and do what they have reason to value.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
