The Blue or Red Pill: The Future(s) for DePIN
Introduction: A Fork in the Road In the previous installments of this series, we journeyed through the initial excitement surrounding Decentralized Physical Infrastructure Networks (DePIN) – the grand vision of democratized, community-owned physical infrastructure (Part 1) – and contrasted it with the often sobering reality of current implementations, marked by pseudo-decentralization, flawed governance, and extractive tokenomics (Part 2). The critique, while necessary, paints a picture of a sector potentially squandering its revolutionary promise, risking becoming yet another playground for familiar patterns of centralized control and VC-driven speculation.
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