At the recent Near Protocol Redacted conference in Bangkok, Edward Snowden, a prominent Web3 figure, issued a stirring call for Solana and blockchain decentralization. Snowden warned about the increasing risks of Artificial Intelligence (AI) – driven surveillance.
He also pointed to the significant control venture capitalists (VCs) exert over blockchain projects today. He highlighted Solana’s rapid rise as an example of how investment-heavy networks could sacrifice independence for accelerated growth.
Edward Snowden Criticizes AI and VC Dominance in Blockchain
During the conference, Edward Snowden warned that technology intended for innovation is at risk of becoming a surveillance mechanism itself. He pointed to AI-driven surveillance as a tool that, if left unchecked, could deepen privacy violations and empower centralized authorities over individuals. In addition to this, Snowden believes that venture capitalists entering the blockchain industry is another significant issue.
He noted that these investors’ financial power could threaten blockchain’s original decentralized vision. With considerable funding, venture capitalists can shape blockchain projects, potentially altering the independent structure that decentralization aims to achieve.
Snowden Spotlights Solana as a Case Study in “Captive” Blockchain Networks
Snowden pointed to Solana, a blockchain celebrated for its rapid growth, as an example of a “prison-born” project. Using this term, he suggested that heavy funding from venture capitalists has tied the network to outside financial interests.
According to Snowden, this level of investor control creates limitations. It compromises Solana’s ability to truly function as an independent, decentralized network. In the long run, these financial dependencies could hinder Solana’s future, he argued.
Despite Centralization, Solana Shows Potential for Growth
Snowden acknowledged Solana’s impressive rise within the blockchain industry, noting its strong growth could pave the way for a significant future. He suggested that Solana could become a truly unique force in the blockchain space with time and thoughtful development.
However, he cautioned that this potential is limited if major investors retain substantial control. According to Snowden, this high level of investor ownership could prevent Solana from fully achieving the decentralized independence many blockchain advocates seek.
Snowden’s appeal at the Redacted conference is a timely reminder of the core values that drew so many to the blockchain and crypto spaces. This includes decentralization, transparency, and autonomy. As more high-profile voices like Snowden call for re-evaluating financial influence in blockchain, the industry faces an important decision. Will blockchain continue down the path of investor-driven control, or can it return to its roots of independence and true decentralization?
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