Dit onderzoek is verricht voor het Lectoraat Duurzaam Financieel Management aan de Hanzehogeschool. Er wordt onderzocht welke gevolgen het gebruik van de Bitcoin heeft voor de maatschappij.
In On the Mode of Existence of Technical Objects (1958), French philosopher Gilbert Simondon noticed that humans were losing their reciprocal connection with technology. We push buttons without understanding what’s happening ‘inside’ the machine – whether it’s a light switch or a smartphone. ‘For Simondon, restoring this mutual relationship would be a means for developing a technological culture’, says computer scientist and philosopher Yuk Hui. Revealing the different structures of a technology, which are ‘inside’ the machine, can reduce technical alienation. ‘An individual technical object can’t exist without a wider associated milieu’, states Hui. Thus, we need to look at its mechanisms, infrastructures and physical manifestations.
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This paper explores how so-called ‘Web3’ blockchain projects are materially and socially constituted. A blockchain is an append-only distributed database. The technology is being hyped as applicable for a whole range of industries, social service provisions, and as a fix for economic disparities in communities left behind by mainstream financial systems. Drawing on case studies from our ongoing research we explain how, despite being virtual, Web3 projects are dependent on clearly defined spaces of production from which they derive their speculative value. We conceptualise this relationship as Crypto/Space, where space and blockchain software are mutually constituted. We consider how Crypto/Spaces are produced in three ways: 1) how project developers are adopting a parasitic relationship with host locations to appropriate energy, infrastructure, and local resources; 2) how projects enable ‘virtual land grabs’ where developers are engaging in land acquisitions, and associated displacement of local people, with no real intention to use the land for the declared purpose; and 3) how blockchain technology and speculative finance imaginaries are inspiring new anarcho-capitalist crypto-utopian ‘Exit zones’, often in the Global South. Far from being a zero-sum virtual game world, we argue that cryptocurrency projects are parasitic, often requiring predation on poor and otherwise marginalised communities to appropriate resources, onboard new users and enable favourable regulation.
