23 May

“The token economy just gained an organized structure for collaborating with world leaders. The World Economic Forum revealed its Presidio Principles on Friday, a “blockchain bill of rights,” according to the nonprofit focused on fostering diplomacy and international business partnerships.

The principles include a user’s right to ‘manage consent of data stored in third-party systems, port data between interoperable systems’ and ‘revoke consent for future data collection.’

Ethereum co-founder Joe Lubin encouraged crypto startups to become signatories.”

“There is no country with more to lose from the disruptive potential of digital currency than the United States.

This revolves primarily around U.S. dollar hegemony. Issuing the global reserve currency and the medium of exchange for international trade in commodities, goods, and services conveys immense advantages.

Offering a cross-border payments solution built on top of a digital dollar would, particularly if designed to be minimally disruptive to the structure of the domestic financial system, be a very modest investment to protect a key means to project power in the global economy.”

See Also: Louisiana State Senate to Consider Crypto Business Licensing Bill

“In the face of hyperinflation and widespread currency devaluation, Latin America has embraced crypto. Mainstream adoption of Dai is being driven by real need, with Dai providing an easy way to store value in dollars.

Today, interest in Dai is exploding, with trading volumes quadrupling from $5 million before quarantine was imposed to $20 million by early May. At the beginning of 2020, only one exchange in the region offered Dai; today, there are six.

In Latin America, crypto has mainstream appeal. It’s embraced by almost everyone, not just crypto savvy people and traders.

Dai is better money.”

“There are 1.24 renBTC live on the Ethereum mainnet now, according to Etherscan. Three sources with knowledge of the project have confirmed this is the Ren smart contract, live ahead of its launch announcement. However, there’s no way yet for members of the public to mint additional renBTC.

While the smart contracts have been deployed on Ethereum, RenVM itself is not actually on mainnet. The minted renBTC so far has been from our own internal testing.”

“The Twitter CEO announced on May 21 that he would be giving $5 million to Humanity Forward, a UBI-proponent established by Andrew Yang.

Dorsey told Yang that UBI was ‘long overdue,’ saying ‘the only way that we can change policy is by experimenting and showing case studies of why this works.

Yang said Humanity Forward would use Dorsey’s donation to distribute $250 cash grants to thousands of people who have experienced financial hardships during the current crisis facing the United States.”

See Also: Designer Money for a Machine-Run Post-COVID World

“Cardano is working on a crypto-native microchip that would enable crypto transactions without internet access.

The way this would work is that the private key from one chip would be transferred to another. It would also provide the proof of erasure, making sure that the key only exists on the new device. The chip could be embedded into a phone case and would not require the internet for transferring of cryptographic keys.

If you can do that, you can basically just tap phones locally with no Internet connection to each other and move value.

This is a long-term project that will take years to perfect. Hoskinson stressed that all the work being done on the chip will remain open source and will not only benefit Cardano alone, but rather the entire crypto community.”

“The ‘Free Ross’ movement has hired a billboard in New York’s Times Square as part of its campaign for the release of the Silk Road darknet market founder Ross Ulbricht. The billboard will display the message and image for several months.

Ulbricht, now 36 years old, was arrested and incarcerated in 2013 for establishing and operating the notorious darknet marketplace ‘Silk Road.’ He is currently into his seventh year behind bars in a double life sentence. Without clemency he will never be released.”

“Steem has completed a soft fork which sanctions the account that went rogue and sent 23.6 million STEEM to Bittrex in protest of a recent hard fork.

An update posted to Steemit on May 22 announced the completion of a soft fork sanctioning community321, stating that ‘the community no longer has control over the account.‘”