Venture Capitalist Argues Blockchain Could Solve Internet's Big Tech Monopoly Problem

In his new book Read Write Own, venture capitalist Chris Dixon suggests that blockchain technology can be used to rebuild the internet and take it away from Big Tech monopolies. Despite recent crypto hacks and Tether's secured loans, there is still enthusiasm for blockchain and its potential to create a better internet. Dixon's book points to reasons for optimism, including the fact that some revolutionary technologies take decades to evolve and the growing popularity of blockchain projects like Ethereum. Coinbase has enlisted the help of former U.K. chancellor of the exchequer George Osborne to assist with their global lobbying efforts, while a super PAC backed by Coinbase and Andreessen Horowitz has raised a minimum of $85 million to support pro-crypto politicians. The current meme trend is focused on explaining cryptocurrency, but phone carrier employees were recently tricked with forged documents, resulting in the theft of $400 million in cryptocurrency, and hackers have stolen $112 million worth of XRP from a wallet belonging to Ripple cofounder Chris Larsen, marking the largest cryptocurrency hack of 2021.