Stephen Downes

Knowledge, Learning, Community

This story offers a fair warning to those eager to jump in too quickly on the crypto side of web3 and the metaverse. A half year after making BitCoin an official currency, El Salvador is finding that the infrastructure has to work and the value has to be (more or less) stable in order for it to play a key role in the economy. And it does not offer the independence from institutions some people hope. "At some point, as a participant in the economy, you have to cede some control and trust someone else, whether it is the developer of an app, a bank, or a government."

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Stephen Downes Stephen Downes, Casselman, Canada
stephen@downes.ca

Copyright 2024
Last Updated: Feb 26, 2024 3:56 p.m.

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