Ralf Glabischnig
2.7K posts
@GLRalf
Entrepreneur. Invested. Involved. Co-Founder @theCryptoValley @CryptoOasisUAE @inactaventures, Commited to build the #WEB3 ecosystem #Switzerland & #MiddleEast
Blockchains have always been and always will be tech for finance. Their core purpose is financialization. That’s why architecting a chain to protect unification of liquidity is more important than practically anything else. I am happy the misadventures around things like gaming in particular are fully dead and over. More broadly, I felt the “read write own” / web3 articulation was too skeuomorphic and, frankly, intellectually lazy to transpire because new tech is never as simple as putting something on a blockchain and voila. You have to create new markets. This narrative functioned more as a fig leaf for a reason to put VC dollars into more unnecessary infrastructure to rationalize a desire to create a private asset that could become magical internet money. The more folks that launched projects to attract price based on selling a narrative to the wild Wild West of internet liquidity, the harder the legitimizing narrative machine worked to ascribe value to all this as the third coming of apps - “all the stuff you do today, but now it pays you” In reality, the opportunity is immense, and bigger than our most creative minds can imagine, but not as it’s been articulated over the last few years. This blockchain adventure has always been about finance: open financial rails for anyone and everyone on the internet. This makes it newly possible for capital formation and internet formation to happen anywhere in the world, and for the ensuing innovation and progress to take hold. Open finance enables greater economic freedom and with it individual sovereignty and agency.
