Katia Shabanova's “Crypto, like railways, is among the world’s top innovations of the millennium' compared the blockchain revolution to the railway boom. If this analogy is applied further, what’s going to happen next?
, the industry moved to more favorable territories. Also, countries with cheaper electricity such as Venezuela and Ukraine satisfied the demand in expanding mining operations.
Now, I return to the chapter on town planning with railroads: “The arrival of the railroads in London, according to Simon Jenkins, had a greater impact than anything since the Great Fire of 1666.” The same happened to crypto for investing: Suddenly, millions of people — If search engines like Google allowed us to systemize information on the internet, then Web3 would make it more effective. For instance, a certain file — let’s say, an image — could be reused as an original source instead of copying it. This seems contradictory to what we observe now, but the introduction of nonfungible tokens , their sales frenzy and the experiments in virtual reality hint at what a “semantic web” could look like.
So, the railroads replaced the canals. Web3 will inevitably transform Web2, but we cannot be certain about the fairness of the process. As active observers, it is our duty and responsibility to constantly remind ourselves about the limitations and risks of new technologies to ensure a just transition for all.
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