The perspective of Chris Dixon from "Read Write Own." When blockchain technology becomes a game-changer in the internet

Cryptocurrency market issues have been debated in many writings, books, and articles. Recently, Chris Dixon published a captivating book called "Read Write Own: Building the Next Era of the Internet." In addition to discussing how the cryptocurrency market has succeeded and failed, it shares thoughts on blockchain technology, which is the internet infrastructure modern users should use.

A16z was founded by investor and businessman Chris Dixon, who is presently a general partner at Andreessen Horowitz. He is renowned for a keen interest in Web3 and cryptocurrencies.

His book "Read Write Own" will reflect his primary viewpoint on the internet and blockchain technology that has altered the visual aspects of the digital world. Still, cooperation is needed from multiple parties.

Dixon's perspective in "Read Write Own: Building The Next Era of the Internet" on the online world.

The internet was first made available to users for free during the "read era." The application was not, however, fully functional.

The "white era," also called the "social media era," is characterized by the ease with which people can write, send texts, and upload images online. Despite the fact that the online world is fascinating today, Dixon believed that big tech companies controlled the internet. We live in a digital monopolist era where social media platforms, like Facebook, Google, and X, are governed and developed by large corporations. Utilizing the internet is no longer free in this white age. User data and platform-generated content are needed.

In Dixon's view, entering the "own era" would solve internet problems by allowing everyone to create and control their own data. What is created on the blockchain is this kind of network.

Without depending on the management and functioning of large tech companies, users can develop their own social media, games, financial services, and many other applications on the blockchain. Dixon gave the Ethereum example, comparing it to a playground where users can design their own applications and have complete control over how they run.

Blockchain uncertainty when major cryptocurrency businesses began to fail.

Dixon's presentation appears intriguing, but as the failure of numerous cryptocurrency companies shows, there is still controversy regarding blockchain technology's security and unpredictability.

For example, Sam Bankman-Fried was forced to file for bankruptcy and was found guilty in seven cases of fraud following the collapse of his FTX due to a lack of liquidity and ongoing declines in the coin's value.

Furthermore, stablecoin and TerraUSD losing value, scammers, and numerous allegations that significant individuals in the crypto industry caused their businesses to fail contributed to the instability of the blockchain operation.

However, Dixon thought blockchain technology remained neutral, even though its use caused users problems and concerns. Supervisory authorities must distinguish between "misuse" and "experiment to avoid misuse," he continued. As per his book, we currently live in a world where blockchain is overly cautious.

Dixon claimed that blockchain offered a fresh chance to rebalance the internet sector, bringing greater equality to users, content creators, and internet service providers. He said that people's perception of blockchain's unreliability was shaped by casino culture. In other words, people believed that blockchain could generate revenue like a casino. We might win the lottery and get a lot of money one day, and the next we might go bankrupt. Because of their misperception of blockchain culture, regulators and supervisory authorities are acting to prevent the use of this technology.

Dixon did not, however, deny that he had issues with all supervisory authorities' work. His only concern was that the sector might make urgent decisions. Upon observing FTX's collapse, he surmised that US cryptocurrency enterprises might face more legal challenges

Blockchain = The revolution in the internet sector

Dixon emphasized, "monopolized big tech companies control the internet and seeking benefits from it." Blockchain, however, would help establish equality in the digital world and reduce their power over the internet.

Regulations that foster equality and public trust online are necessary for blockchain-based platforms.

Dixon believed that when the internet became a part of people's everyday lives, it was crucial to create guidelines for its use, despite his abstract viewpoint.

Internet access without fear of data theft will allow creators to display their work without restriction, content will not be hidden and ads will not interfere with accurate information searching. He thought this would be the future of the internet.

He also discussed tokens, which are digital assets that operate on the blockchain, as another crucial component of blockchain technology. He claimed that it was the ideal drive since it gave users a sense of ownership and motivation. Equal amounts of tokens would be given to each.

According to Dixon, tokens can be awarded in a number of ways to users. First, you will become involved in token ownership regardless of the kind of contributor you are—creator, stakeholder, or developer, for example. The network can succeed if software and content are created, or if different approaches are employed. Second, offering tokens as a reward promotes competition and gives consumers additional options when using blockchain-developed software.
Finally, unlike corporate stocks, token transactions are transparent and driven by programs. In comparison to the analog system, it is more equitable, transparent, and fluid.

Refer : Fortune, Fast Company, WIRED