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Solarpunk and web3
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this post was submitted on 08 Mar 2024
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Web3 is just crypto scams in a trenchcoat. Blockchains had some cool applications for being a good database engine for high data integrity and transparency. Unfortunately what I imagine happened was some business school duche walked in on the development and went like "I can make the stockmarket with no regulations or safety with this" and that is what it became.
I loved the idea of bitcoin as a decentralized currency. However, to this day it has proven it is not a currency because it is used for investing and speculating. People in some countries use USD rather than their local currency because of the unstable nature of their curency. Bitcoin is not stable so the only way it works as a currency is if you buy bitcoin and immediate use as it won't hold its value.
But the idea seems so wonderful for a solarpunk world. Is there anyway a cryptocurrency could be made that wasn't investing/scamming/etc?
The biggest issue with crypto as a currency is that there is no real way to revert transactions. That pretty much guarantees it will never be adopted as a currency. And forking the whole thing is not a solution.
There are a ton of other issues as well but those are more solvable.
So, no, with the current tech, I don't think it's happening and even if someone comes up with better tech it may be too tainted by scammers and finance bros.