Snowden Slams VC Influence: Solana Called "Born in Prison"

Crypto News Blockchain

Written by Aaron S.,

Editor-In-Chief

Last Updated: November 11, 2024

Key Takeaways

Snowden voiced concerns over venture capital’s impact on blockchain independence, using Solana as an example;
He warned about AI-driven surveillance, which could enable real-time monitoring of individuals on a massive scale;
Open-source tools, according to Snowden, provide an essential means for individuals to reclaim control in an increasingly centralized digital world.

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Snowden Slams VC Influence: Solana Called "Born in Prison"

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Edward Snowden recently took the stage at the Redacted conference in Bangkok, Thailand, hosted by Near Protocol, sharing insights on decentralization, artificial intelligence, and the role of venture capital (VC) in blockchain projects, choosing Solana SOL $138.80 as an example.

Snowden's remarks painted a complex picture of blockchain projects funded by venture capital (VC), arguing that heavy financial backing from these sources can compromise the independence of blockchain networks. He referred to Solana as a project "born in prison", suggesting that its reliance on VC investments could hinder its ability to remain decentralized and autonomous.

Though Solana's popularity is rising, he expressed concerns that such growth may have come at the expense of decentralized ownership. Nevertheless, he left room for optimism, hinting that Solana still has the potential to evolve into a more decentralized entity over time.

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The broader theme of Snowden's discussion was the pressing need for decentralization to counterbalance the increasing surveillance power of AI-driven systems. He highlighted how advancements in artificial intelligence enable unprecedented data surveillance, which allows governments and corporations to monitor personal data on a massive scale.

Snowden also emphasized the importance of open-source technologies. He celebrated open-source software as a way for individuals to maintain autonomy in a world increasingly dominated by centralized forces. He encouraged those in attendance and the broader community to adopt open-source resources, especially in the AI and blockchain fields.

For Snowden, the intersection of decentralization, blockchain, and AI represents both a challenge and an opportunity.

In other news, Elon Musk recently expressed support for Utah Senator Mike Lee's call to abolish the Federal Reserve Bank.