Now that cryptocurrencies such as Bitcoin have plummeted from last year’s absurdly high valuations, the techno-utopian mystique of so-called distributed-ledger technologies should be next.
https://www.project-syndicate.org/commentary/blockchain-big-lie-by-nouriel-roubini-2018-10
The Big Bang brought the universe into existence 13.7 billion years ago. Life first appeared on our planet 3.8 billion years ago. Earth witnessed a hominid species, Home erectus, walking upright for the first time 1.9 million years ago. And, 7,000 years ago, money was invented.
The Big Bang brought the universe into existence 13.7 billion years ago. Life first appeared on our planet 3.8 billion years ago. Earth witnessed a hominid species, Home erectus, walking upright for the first time 1.9 million years ago. And, 7,000 years ago, money was invented.
“what we are seeing here is the creation of a new internet, built upon protocols that allow for decentralized networks to form and tokens that allow people and companies to be compensated for that formation. And that cryptoassets are the fuel that power and compensate for that formation. And that purchasing these cryptoassets is very much a form of investing. And that this investing is the first time that anyone in the world, independent of wealth and domicile, can participate in venture capital style investing in the next big wave of technology.”
“Crypto-assets produce decentralized infrastructure.”
An Introduction to Crypto https://youtu.be/2dgdGWyJoK4
“much of the current rhetoric around the blockchain hints at problems with the techno-utopian ideologies that surround digital activism, and points to the assumptions these projects fall into time and again.”
– https://longreads.com/2018/02/15/blockchain-just-isnt-as-radical-as-you-want-it-to-be/
Seven years ago nearly 400 million people in India did not exist in the eyes of the government. They were “ghosts” who had no identity and no way of getting one, says Sahil Kini, one of the architects of India’s controversial Aadhaar database.
As has been widely reported, China has banned all ICOs. Given the torrid pace of ICOs in China, many of which appear to be downright scams, this should not come as a surprise. What will be interesting to see though is what comes next. Here are some key questions.
First, is this a temporary ban only? Will China come out with a set of regulations that allow some ICOs to go forward? Given that China has allowed crypto currencies per se, I expect that they will come up with regulation and that this ban was them pulling the emergency break.
Second, how will regulators in other countries react? They might see this as an opportunity to follow suit, or they might see it as an opportunity to position themselves as more attractive to innovation. Given the cautious initial findings of the SEC around applying the Howey Test, I think they are unlikely to act rashly now.
Third, regulation will be a long term issue for innovators and investors in the crypto currency field. Because these systems are global from day 1, countries will find that they have less regulatory power than in more traditional financial markets. So I expect that what’s legal where will shift around a bunch over time. That adds an important component of risk and uncertainty to innovating and investing in the blockchain space. How big is that extra risk and what to do about it? That’s one of the key issues to wrestle with.
As we continue to invest in this space we will be paying close attention to this. So expect updates here in the coming months.
Epic Upgrades for Google Maps Street View https://youtu.be/B3KmWuMWh6Y
