Crypto/Space: computational parasitism, virtual land grabs, and the production of Web3 ‘Exit zones’

Peter Howson*, Antulio Rosales, Olivier Jutel, Inte Gloerich, Mariel García Llorens, Alex de Vries, Jillian Crandall, Paul Dolan

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

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.
Original languageEnglish
Pages (from-to)1-11
Number of pages11
JournalPolitical Geography
Early online date7 Oct 2024
DOIs
Publication statusE-pub ahead of print - 7 Oct 2024

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