Chris McCoy is the chief executive of Footprint and the creator of Storecoin.
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Yesterday’s “plastics” are today’s crypto tokens
We’re reaching the endgame of an inevitable showdown between big tech and regulators with a ley battleground around consumer data. In many ways, the fact that things have gotten here reflects that the market has not yet developed an alternative to the data paradigm of Google and Facebook as sourcers and sellers and Amazon as host that today dominates.
The tokenization and decentralization of data offers such an alternative. While the first generation of “utility” tokens were backed by nothing more than dreams, a new generation of tokens, connected explicitly to the value of data, will arise.
The conversation around data has reached a new inflection point.
Presidential candidate, Sen. Elizabeth Warren has called for the breakup of technology giants including Amazon and Facebook. In many ways, the move feels like an inevitable culmination of the last few years in which public sentiment around the technology industry has shifted from overwhelmingly positive to increasingly skeptical.
One part of that growing skepticism has to do with the fact that when populist ideology rises, all institutions …read more