When globalisation was the accepted narrative, the accepted goal for all nations, the idea of a few layer 1 blockchains winning out and taking most of the use cases seemed reasonable. After all, if there is one society and all are connected, able to share and communicate, then redundancies would gradually erode and economies of scale would select a few winners. Even with gloablisation, the idea of "we're all the same and we can all use the same networks" was never really a reality beyond a few big players, like Facebook and Google. And even they lost market share to more 'local' product offerings, like Kakao and Naver in Korea. Now that globaisation has well and truly broken, or been exposed, depending on how you look at it, it is worth looking at the possibility of localised or targeted Layer 1 blockchains becoming more common. As a spoiler, I think the main weakness of this hypothetical, and of blockchains in general, is security.
An Explosion of Digital Spaces
An Explosion of Digital Spaces
An Explosion of Digital Spaces
When globalisation was the accepted narrative, the accepted goal for all nations, the idea of a few layer 1 blockchains winning out and taking most of the use cases seemed reasonable. After all, if there is one society and all are connected, able to share and communicate, then redundancies would gradually erode and economies of scale would select a few winners. Even with gloablisation, the idea of "we're all the same and we can all use the same networks" was never really a reality beyond a few big players, like Facebook and Google. And even they lost market share to more 'local' product offerings, like Kakao and Naver in Korea. Now that globaisation has well and truly broken, or been exposed, depending on how you look at it, it is worth looking at the possibility of localised or targeted Layer 1 blockchains becoming more common. As a spoiler, I think the main weakness of this hypothetical, and of blockchains in general, is security.