The lead developer of memecoin Shiba Inu (SHIB) says that web3-based operating systems are now needed after banks and other networks suffered a massive global outage last week.
In a new post on the social media platform X, Shytoshi Kusama says that a decentralized web3 operating system could counter events such as the latest outage, which saw marquee banks like JPMorgan, Chase, Bank of America and Wells Fargo experience major disruptions.
“As the world [limped toward] the weekend crippled by one simple update, it becomes glaringly obvious that a new worldwide operating system is needed. One that isn’t reliant on a central authority, but one that is decentralized and powered by web3 technologies that at its core, are designed for days just like this.”
According to previous reports, the outage was linked to an update by cybersecurity firm CrowdStrike, whose software is utilized on a global scale.
Customers at the banks said that they had login issues, online transfer issues and issues with deposits.
Shytoshi goes on to say that during the latest bear market, SHIB developers have been working on a system designed to withstand global outages.
“Luckily for innovators, and the world at large, during the bear market, our large decentralized community of builders and believers have been working on systems for just this occasion.
As the inevitable toll of a global outage of critical infrastructure is tallied in a loss of funds and lives, we will lead the conversation of exactly why web3 is the future and the Shiba Inu ecosystem is the operating system of that future.”
SHIB is trading for $0.00001816 at time of writing, a slight increase in the past day.
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