Wondering if this is another brain fart on the innocent, unknowing normies?
Ummm not really.
Instead, the weather in Mumbai is getting hotter. On the positive side, mangoes are here!
So what calls for a perfect celebration? Rant. Yes. A simple plain outburst of pent up thoughts.
Let the screaming begin!
Why tf should you even read this?
I know. I mean why would you believe us? After all, we promised lambos and the moon. And what did you get?
A noodle haired middle aged dude who YOLOd your money with his girlfriend and took the entire industry down single-handedly. If you are still wondering, we are referring to yo fren SBF and his beloved FTX. More like FML.
More context? This not-so-gentleman created a facade crypto exchange worth $22 Billion to commit financial frauds with his girlfriend in the background only to lose it all one day!
Anyway, this time is different (or so we think). We have just got approval for the Bitcoin ETF which gives a solid foundation to the industry. And this time, we are really pitching something meaningful. Not your next door kittens or penguins. But like the real deal.
Wtf is DePin?
DePin stands for Decentralized Physical Infrastructure Networks. Okay. Let us dumb it down.
Physical infrastructure networks are real-world building blocks that make a system work.
Examples anyone? Here goes. Physical infra networks may include:
- Cell towers (Not the scammy messages you get to generate additional revenue)
- Data centers (Where your simp media is stored)
- Power grids (That generates electricity for your degen ventures)
And here’s the thing. These network infrastructures are generally owned by large corporations. These centralized super powers extract the maximum value from the network by owning them.
I mean today Adani Electricity has total control over prices, Airtel and Jio have duopolized to steadily increase the data costs (after giving it away for free) and Amazon Web Services decides what and how much you can store and what to pay for it.
On the other side of the ring, we have got DePin. It tries to flip the switch for good.
Instead of giving the ownership to these corporations, how about we let people like you and I contribute to the network whilst making some moolah in the process?
For example, how about I buy and setup a professional WiFi hotspot router thingy (equivalent of a mini cellular tower) and let people use it in return for money?
And if one day enough people do it, we have got a system that allows normies to become partial owners of the network.
Too good to be true? Checkout Dabba network. They are trying to create an ecosystem of local internet providers and consumers using crypto.
What Else?
And also, after all it is not just about making money by claiming a piece of the market.
It is about running the community operations as a collective for the larger good.
One thing about power is that it always corrupts people.
This system can prevent that from happening.
Any key decision regarding policies, costing now becomes a community based decision instead of a CEO calling the shots on your behalf.
Where does crypto come into picture you ask?
Well, it is the thing that decentralizes the operations. The ownership of a piece of network is established on Blockchain and crypto is used as an incentivization layer on top of it.
This helps DePin stand out in two ways:
- You can’t go rogue with Blockchains (Way better than trusting someone who says they won’t go rogue)
- You open up the network to anyone with the transparency, censorship resistance it brings along.
Will this be a substantial narrative to support the ecosystem in this bull season? Only time will tell.
My take is that it is leveraging Blockchains for meaningful transactions unlike previous cycles.
Why Should You Care?
For starters, it means you get fairer prices for your connectivity. Secondly, media censorship would become a thing of past.
But more importantly, it is a cultural movement. In the past companies like Amul, Lijjat Papad have made it real big using their Co-Operative model.
This is a software manifestation of such a model.
So if you are onboard, raise your hands and read more about crypto on this blog. If you aren’t, it doesn’t matter. We’re going to die anyway!
This blog post is part of the blog challenge ‘Blogaberry Dazzle’ hosted by Cindy D’Silva and Noor Anand Chawla in collaboration with Mads’ Cookhouse.