Schiener lays out three arguments why not competing at all could be seen as a new competitive advantage in the crypto market.
Firstly, there is an economic benefit to sharing infrastructure, because building it from scratch requires tremendous resources and money. Shared infrastructure is no longer simply a competitive advantage, but more of a necessity in order to be able to compete in the future.
He invites us to think about the, currently very fragmented, electric vehicle charging system as an example. Due to different technological standards, it might be impossible for a user to charge their car.
The problem lies in the fact that, instead of having a standardized charging system, different companies invest millions in building their own technology and ecosystem.
"It's much more efficient to actually come together to have a sort of shared infrastructure that they all invest in and that it all gets adopted in because through that you really get a large-scale adoption and sell more cars, devices, data, whatever,"
The second argument is the regulatory environment. As seen with GDPR law in Europe, data protection laws coming in other countries, and serious antitrust cases against U.S. behemoths, the future of predatory tactics is unclear.
"I highly doubt that anybody of them will actually even try to do a coin after what happened with Facebook, right with Libra? They can try and use their monopoly to have this unfair competitive advantage. But they will either be out regulated, or they will not be able to compete,"
Last but not least is the question of building trust. The ethos behind gain is crucial in the crypto universe, which revolves around decentralized communities. By building a monopoly and eliminating the competition, one becomes a sort of villain.
"Are you going to use an Amazon coin? Sure, if the economics make sense, you get like a 10% discount, and you might use it. However, companies make different decisions. They perceive U.S. companies, specifically the Internet giants, as a sort of competitor that wants to own the ecosystem. As much of the ecosystem, as much of the value chain as possible, and they have serious trust problems with each other,"