Bitcoin has come a long way in its short history – from an experimental cryptocurrency, with which few people knew what to do, to a full-fledged financial instrument, considered by major investors as a real alternative to traditional money.
As Lado Okhotnikov, founder of the Meta Force crypto project, one of the pioneers in the development of blockchain technology, notes, in 2023 there was a real turning point in the community’s perception of virtual reality. If a couple of years ago many people considered cryptocurrency as an object for speculation, this year there was an understanding that a true digital currency is a full-fledged instrument, independent of states and traditional financial institutions.
“Bitcoin has proven its viability, and now we have enormous opportunities to create fundamentally new economic models and financial products based on the blockchain,” says Lado Okhotnikov, the ideological founder of the first smart contract for a marketing program, the creator of the Meta Force Metaverse.
About whether the Metaverse is a continuation of the libertarian idea and what awaits the crypto market in 2024 – in our interview with Lado Okhotnikov.
Lado Okhotnikov sees a hidden fight against decentralization
During a debate on the Stanford campus in 2018, Peter Thiel, founder of PayPal, proposed an intriguing theory regarding two leading technology areas: cryptocurrencies and artificial intelligence. According to Thiel, these areas are closely related, but at the same time they are opposite for some reasons.
Cryptocurrencies, with their emphasis on decentralization, have been called “libertarianism” by Thiel in the tech world. On the other hand, artificial intelligence that focuses on data centralization and control has been defined as “communism.”
“Libertarianism in the financial world focuses on the principles of freedom, minimal government intervention and the protection of individual rights in the field of economics. This ideology supports the concept of a free market, where entrepreneurs and investors can interact without excessive restrictions and regulations,” is how Lado Okhotnikov described the work of cryptocurrency under constant pressure from the SEC (U.S. Securities and Exchange Commission).
At the same time, Lado considers it important to recall individual responsibility: “People have the right to freely make decisions about managing their finances, but along with this freedom they are also responsible for the consequences of their actions.”
Returning to Peter Thiel’s assertion, he argues that AI supports the idea of government control over data, which could ultimately lead to centralization of power similar to that found in communist regimes.
Thiel could not ignore the interest in artificial intelligence from authoritarian regimes, emphasizing that, for example, the Chinese Communist Party prefers artificial intelligence to cryptocurrencies, which is consistent with their ideological guidelines, when the party is focused on economic growth, national power and social stability while maintaining authoritarian political control.
Lado Okhotnikov: “Bitcoin has become a household name, as has the crypto decentralization”
It happens that some brands become so popular that their names begin to be used to refer to an entire group of similar products. For example, in Africa, any coffee drink, regardless of brand, can be called “nescafe”. In Poland, when they say “Adidas,” they mean any sneakers. In Israel, you can sometimes hear a mobile phone called a “pelephone.”
This also applies to cryptocurrencies, when someone, without delving deeply into the topic, calls the entire digital currency simply “bitcoin”, also decentralized only because they see the prefix “crypto”. It becomes a kind of linguistic tradition when a phrase like: “I don’t understand anything about these bitcoins” is heard in conversation.
Such common nouns are often a kind of simplification in communication, especially if the topic seems complex or incomprehensible. And misunderstanding arises due to lack of knowledge.
However, calling all cryptocurrencies “bitcoins” and automatically assuming they are decentralized is a common mistake for those who have little knowledge of this area.
Over the past few years, we have witnessed the fall of the FTX crypto exchange, the resignation of the head of Binance, Changpeng Zhao, and increased pressure from the SEC on Coinbase.
In light of recent events, it becomes clear that what previously seemed to be a symbol of decentralization has in fact turned out to be highly centralized. For example, take the latest news that Tether has made public the connections with the FBI, the Department of Justice and the US Secret Service.
Tether is a really good example showing how important it is to understand the technical details of how a particular cryptocurrency works. For example, how decentralized is the blockchain, is it possible to censor transactions, and who controls the emission. Only then can one objectively judge the degree of decentralization.
An ideal truly decentralized cryptocurrency would operate without any central authority or company. But there are very few such examples. Therefore, Lado Okhotnikov in his article just figured out who and what is behind the true independence of cryptocurrencies.
Code philosophy: crypto has become a symbol of libertarianism
During the early stages of Bitcoin adoption in 2012, University College London researcher Louis Smith conducted an online survey that revealed interesting trends in the world of cryptocurrencies. It turned out that 44.3% of blockchain users identify themselves as libertarians.
According to respondents, traditional money management methods based on centralized structures are considered ineffective and counterproductive. Central banks, which control financial flows, are viewed as government entities, while financial intermediaries such as Mastercard and Visa are considered corporations and are not much different in terms of control.
Bitcoin, as a decentralized form of electronic currency, has become an alternative to these hegemons. It counters powerful government agencies, putting power back in the hands of ordinary people. This is exactly in line with libertarian ideology, where the emphasis is on individual freedom and minimal interference. Therefore, Bitcoin has become a symbol of the libertarian struggle for financial freedom and independence.
If a pragmatic approach is successfully implemented, the Metaverse has every chance of becoming a place where everyone continues to interact without unnecessary restrictions, finding new ways to collaborate and develop.
In a recent post Lado Okhotnikov, the founder of Meta Force shared his views on the importance of centralization in virtual reality. In his words he expressed fears that centralized management will definitely become a barrier for many people in using new tools.
“If we create a virtual reality in which it is impossible to escape the idea of centralization, then we will limit a large number of people in the new tool,” the founder noted.
The focus of Lado’s statement is the desire to create a community where each participant, regardless of when he joined, will have an equal chance over others. He called for efforts to prevent centralization so that the Metaverses could become a place where everyone reaches their full potential.
This comment reflects a focus on inclusion and a desire to create a digital space in which access and opportunity are distributed equally among participants.
