Edward Snowdens faith incryptocurrencieshasnt faded during the current market crash.
Quite the opposite, in fact.
Snowden believes crypto winters separate the scams from the legitimate uses.
Snowden has unique experience of cryptos practical benefits.
The servers that he used to leak documents about government surveillance were paid for withBitcoin.
When the ground has been cleared, things will grow again.
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These are values that persist through market fluctuations.
It still works whether the price is $60,000 or whether the price is $6, he said.
Despite these benefits, Snowden hasraised alarmabout Bitcoins disastrousprivacy.
Hes also wary of treating cryptocurrencies primarily as investments.
Everybodys talking about getting rich and things going to the moon.
How is that going to happen if no one is actually using these things functionally?
And they work well they work better every year for the purposes theyre actually intended for.
At TNW Conference, Edward Snowden discussed the future of the web.
It will not become better unless we force it to become better.
He wants to foil these efforts by returning to the spirt of crypto pioneers who pursued purpose over profit.
That mentality could transform other pervasive systems.
Mark Zuckerberg, for instance, cant build global social networks and metaverses on his own.
Countless users, employees, and investors have to direct their skills and time towards his ambitions.
Any resistance, however, will require sacrifice.
But in crypto, the current crash provides an unusual opportunity to reset a sector.
Its like a forest fire, said Snowden.
When the ground has been cleared, things will grow again.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
