An alternative way of organising the internet is being built as we speak: an internet where no one is in control, where the government can’t find you or shut you down, where big tech companies aren’t able to learn everything about you. A decentralised net that is both private and impossible to censor.
This revolution is being plotted in snazzy offices just off Fulham High Street in south-west London — not what I was expecting, since you associate hackers with hoodies, basements and graffiti. But the Ethereum project isn’t a typical hackers’ collective: it received around $12 million of crowd-funded support when it was founded a couple of years ago, by a 20-year-old Russian-Canadian programming wizard called .
That’s been enough to hire 40 of the smartest geeks you’ll ever meet, and house them in comfort in Amsterdam, Berlin and London.
Welcome to Web 3.0,’ says Vinay Gupta, a hacker-**bleep**-poverty-activist who’s part of the Ethereum team, as I arrive. Web 1.0 was all static websites.
Web 2.0 was interactive social media platforms like Facebook. This third iteration is about encrypted peer-to-peer networks. It sounds dry, but Ethereum — which is launching part of its software this spring — has London’s tech crowd purring. Last year it won the World Technology Award for IT software.
IBM has already used it to build a washing machine that orders its own soap.
But these people aren’t in it for the money. Ethereum is an open-source project which is available to everyone, and its employees will slink off when the project is complete. They’re doing it because they want to transform the internet — and, by extension, society.
a) I wonder how much it will cost.
b) I wonder how hard it will be to learn.