The news is buzzing. Per Santiment, Internet Computer (ICP) is currently leading the pack in terms of development activity. It’s causing it to leave powerhouse competitors like Ethereum and Cardano in the dust! 557.7, that's ICP's score! Ethereum trailing far behind at 185.73. Impressive, right? We need to slow down here. Are we celebrating innovation for innovation's sake, or are we truly asking: who benefits?

Innovation For Whom, Exactly?

Let’s face it, the technology sector can sometimes live in its own echo chamber. We ooh and ahh over the new innovations, the fancy algorithms, the distributed fungibility, but do we ever ask what this meant on the ground and what difference it made in people’s everyday lives?

I picture a woman in rural Kenya, who is finding it difficult to get microfinance. I’m imagining my colleague in Bolivia, just wanting to sell his produce, and having to break through the mafia-style supply chain. I’m imagining the tens of millions around the world who are denied access to the regulated financial system. Does ICP’s development boom provide them with true, lasting answers to the crisis?

Now picture that same power of ICP energizing a decentralized identity system across Africa. This empowers people to manage their own data and helps them get access to needed services. Or imagine a fully transparent supply chain powered by ICP, enabling farmers to receive competitive prices for their crops. It’s those types of use cases that really make me giddy. These are the applications that will really help to level the playing field.

Here's the catch: innovation doesn't automatically translate to equitable outcomes. It takes focused intentionality, thoughtful planning, and a steadfast dedication to inclusivity. Just because we can build something doesn’t mean we ought to. We should never forget the promise it holds to improve the lives of our most vulnerable citizens.

The Price Isn't Right, Yet

There’s a jarring disconnect between ICP’s phenomenal rate of development activity and its mediocre, underwhelming price performance. Down more than 10% just this week alone, hovering near $5.26. The market isn't convinced, yet. This isn't about price speculation, though. It's about something deeper.

Think about it like this: a groundbreaking medical discovery that remains inaccessible to those who need it most is ultimately a hollow victory. Similarly, a powerful blockchain platform that fails to address real-world problems and uplift underserved communities is simply another shiny toy for the tech elite.

Are we creating a world where technology benefits us all? Or are we working toward the future where the divide between the haves and have-nots continues to grow.

Decentralization, Or Centralized Development?

The concentration of development activity in a single project like ICP raises another important question: are we inadvertently creating a new form of centralization?

While ICP is decentralized in the technical sense, the powerful monoculture of development might create an insular monoculture. This risk can become an innovation-killer and bring security issues to the broader blockchain community. What happens if ICP faces unforeseen challenges? What could go wrong if it allows its governance model to become captured by special interests?

Just as a healthy ecosystem needs diversity, resilience, and lots of different players. Let’s open up a space where different platforms and different approaches can succeed. We need to stop putting all our eggs in one basket.

Consider this: the internet itself flourished precisely because it was built on open standards and protocols, allowing countless individuals and organizations to contribute and innovate. We need to do the same in the blockchain space, moving beyond competition towards a focus on collaboration, interoperability, and shared governance.

It would be similar to banking all our harvests on just a single crop type. So if a blight comes through, an entire crop is lost. Diversity is key for survival.

Time to Act

Here's where you come in. YOU—the reader, YOU—the investor, YOU—the developer, YOU—the concerned citizen. Further, we know that we can’t sit on the sidelines and play this by ear and hope for the best. In short, we can’t just react to the future, we have to fight for the future we want to see.

Undoubtedly the recent boom in ICP development is an amazing and highly laudable testament to the power of innovation. We should not allow our enthusiasm to come at the expense of a commonsense approach. Let’s work together to make sure this innovation ends up benefiting the many and not just the privileged few. Let’s make sure that our technology future truly empowers us all.

  • Support projects that prioritize inclusivity and accessibility. Look beyond the hype and invest in initiatives that are truly making a difference in the lives of ordinary people.
  • Demand transparency and accountability. Hold blockchain projects accountable for their social impact. Ask tough questions about their governance models, their development priorities, and their commitment to equitable outcomes.
  • Promote a diverse and resilient ecosystem. Advocate for policies that foster innovation and collaboration across different platforms and approaches.
  • Get involved in your local community. Support organizations that are working to bridge the digital divide and empower underserved populations with technology.

The time for action is now. Don't just read, do. Humanize this tech so it works for us. Let’s ensure this tech works for the people.

The time for action is now. Don't just read, do. Let's make sure this tech serves the people.