- Snowden critiqued Solana again.
- Cites venture capital funding as a problem.
- Solana has been a target of criticism due to centralization.
Blockchain technology has long positioned itself as a pillar of privacy and digital freedom. However, centralized entities are gaining more influence in the space. Recently, digital freedom advocate Edward Snowden has again put this concern into the spotlight.
In a recent public appearance, Snowden criticized centralized networks and venture funding. Notably, he once again singled out Solana in his criticism.
Snowden’s Slams Solana Over VC Influence
Solana once again drew criticism over its perceived centralization. On Monday, November 11, Edward Snowden spoke at the Near’s [REDACTED] conference in Bangkok. He criticized venture capital’s involvement in blockchain technology, singling out Solana.
While Snowden acknowledged Solana’s performance and scalability, he also pointed out the network’s centralization. “It is absolutely more centralized than its competitors,” he stated. He mentioned that the entire network was down at several points to prove his point.
Snowden suggested that Solana was “born in prison” due to its significant venture capital backing. He referenced Sam-Bankman Fried, the former CEO of FTX, who was a major investor in Solana. Fried has since ended up in jail for fraud over the FTX bankruptcy.
Without Decentralization, Bitcoin Wouldn’t Exist: Snowden
According to Snowden, billionaire venture capitalists are betraying the core values of crypto. “They want to be investing in something. They want it to be regulated, they want it to be controlled,” he explained. “They want it to be something that works for them and I think that’s absolutely wrong” he added.
This is why decentralization is not high on their list of priorities, Snowden argued. While acknowledging that centralization has performance benefits, he explained that this only applies in good times. However, the benefits of decentralization become apparent only in bad times.
In particular, he believes that it is “clear” that Bitcoin would not exist now if it were centralized. Governments would have stomped it out, he explained. For the same reason, Snowden argued, artificial intelligence also needs to be decentralized.
On the Flipside
- This was not the first time Snowden criticized Solana. At the Token2049 conference in October, he highlighted that Solana is overly favoring performance over decentralization.
- Snowden also raises issues with centralized networks suffering potential attacks from governments.
Why This Matters
Snownden’s critiques raise important questions about broader centralization in blockchain and technology.
Read more about Snowden’s earlier criticisms of Solana:
Snowden Torches Solana’s Centralized Approach to Blockchain
Read more about Solana’s recent performance:
SOL Breaks $200 Barrier as Blockchain Activity Peaks
