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It's not like text formats are universal. Thankfully we have settled on utf-8. The same could happen to a slightly more structured universal binary format that would be more suitable for many applications (like logging) and would have an established toolset just like 'text' now.

That doesn't make sense. There can be no such thing as a universal binary format, unless you reinvent text/plain. Analyze a little on why we refer to some formats as being text-based and you'll see it.

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