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Business & Society

From Neanderthals to Meme Coins: Tribalism in the Crypto Age

Maximalism within certain cryptocurrency communities fosters tribalism and restricts the exploration of diverse perspectives, hindering innovation in the Web3 ecosystem. Our tendency to form close-knit groups online often leads to spaces where only certain voices are heard, excluding others. So called S… coins are compared to digital gold whereas meme coins are a joke. What’s really going on here and what do I think we can learn from this?

Maximalism within certain cryptocurrency communities fosters tribalism and restricts the exploration of diverse perspectives, hindering innovation in the Web3 ecosystem. Our tendency to form close-knit groups online often leads to spaces where only certain voices are heard, excluding others. So called S… coins are compared to digital gold whereas meme coins are a joke. What’s really going on here and what do I think we can learn from this?

It's a Paleolithic phenomenon. Our ancient instincts and physiological responses, honed over millennia, are having a hard time to navigate the complexities of modern digital environments. This "mismatch" between our ancient instincts and modern realities creates a fertile ground for tribalism and polarization to flourish. Academically speaking, it's a matter of social cohesion and ideological diversity.

What do we need?

A discussion encompassing multiple differing thoughts and philosophies within the Web3 space is essential to fully comprehend humanity's complexities. After all, Bitcoin is not the remedy for all societal problems in the fourth industrial revolution. Neither is only having fun together in a meme coin rally. Just because I prefer the underlining philosophy of Cardano does not mean I cannot believe in the use case of XRP. What do you think?

Blockchain along with AI is god-like technology and we are not able to grasp its full potential and have not yet experienced the most transformative change in society. We must remember that our government structures, financial system, bureaucratic hierarchies, and political thoughts are not fully ready for these technologies. Change is a process! Humans hold on tight to old ways of living and engaging in society.

My message to Web3 builders is clear: Avoid the creation of echo chambers through tribalism, as progress necessitates dialogue between opposing viewpoints.

Why?  Change is obviously the process or act of altering from a previous state. To successfully adopt Web3 technology in society, an open-minded approach is imperative to accommodate diverse opinions, philosophies, and social and political needs.

“Web3 communities must actively promote empathy, understanding, and constructive engagement, and avoid a conflict-ridden rhetoric that hinder productive dialogue and collaboration.”

Apparently, Neanderthals were highly engaged in tribal warfare and failed to resist human expansion partly because of their limited ability to innovate, adapt, and cooperate in larger groups. Whereas modern society is built on cooperation and collaboration. Say no more.

Frankly being a crypto maximalist is against the very fundamental principle of the technology. Afterall, decentralization spread across the multitude of all that is the world. Decentralized governance mechanisms, enabled by blockchain technology, are avenues for participatory decision-making and collective problem-solving. Whereas centralized power structures and bureaucratic hierarchies hinder inclusivity and collaboration among diverse ideological factions. We are done with that right?