8 August

Recommended read.

“Forced digitalization is driving most of the world’s population further into the grip of big tech companies. As more of life goes online, more of the world’s data goes into their hands, and a higher percentage of human thoughts and behaviors are guided by their self-serving algorithms.

Effective management of the pandemic cries out for integrated analysis of medical data and data on human movement and interaction. However, integrated doesn’t have to mean centralized. Indeed, the centralized nature of many track-and-trace apps has been their doom.

It’s clear that the centralized systems currently running the planet are not to be trusted to coordinate the next growth phase of humanity and its tech, nor to cope with the next global tragedy.

We should have a global, decentralized system for collecting medical, movement, interaction and lifestyle data from everyone on the planet – and methods to analyze it in a secure, anonymous way. Statistical and AI analysis should be guided democratically by everyone contributing data. While policy could be set by sophisticated agent-based modeling leveraging this data, without sacrificing privacy. We are not so far off from realizing such a system.

Bitcoin’s innovation of a “blockchain” combines strong encryption and distributed consensus. Ethereum adds to this with the successful implementation of general-purpose smart contracts. This goes a long way in terms of transitioning the vision of secure, decentralized computing platforms toward practical realization.

COVID-19 is not going to be the last crisis to hit our species, and if we want to cope with the next one better than we’re doing right now, we desperately need the tools that today’s blockchain projects are bringing toward maturity.

DeversiFi has received a credit line worth more than $200,000 using Aave’s credit delegation. Credit delegation allows trusted users to take loans against collateral provided by other users. OpenLaw facilitated the lending agreement with Ethereum-compatible digital contracts.

The transaction represents the first step on the road to opening up DeFi loans to millions of users without collateral of their own, with the potential to expand the market many times over.”

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“While ICOs and IEOs dominated crypto companies’ fundraising in the past, it seems that Initial DEX Offerings are becoming the preferred method to distribute tokens and raise capital in DeFi.

DEXs allow projects to list tokens without paying hefty fees required by CEXs and, because these protocols are permissionless, tokens are available for anyone in the world to trade.

Gnosis Protocol’s Mesa exchange aims to solve the front-running issue plaguing these DEX offerings. Mesa uses a so-called ring-trade mechanism, where traders set a limit for the price they’re willing to pay so they get at least the price they asked for.”

“VeChain’s newly released tool offers a suite of whitelabel services that will allow the food sector to implement on-chain safety management services. These services include traceability templates which track things like origin traceability, cross-border traceability, full-process traceability, and more.

Companies will also gain access to third-party services such as PwC, Deloitte, DNV GL, among others, to help them to reduce the cost of certification, auditing, insurance, and supply chain financial services.”

“KB Kookmin Bank, one of the largest banks in South Korea, has partnered with blockchain venture fund, Hashed, and crypto trading platform, Cumberland Korea, to establish “strategic technology cooperation” on the custody of digital assets.

The companies belonging to the partnership state that their inception into the crypto custody business is a response to regulatory changes.”

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“Bill, A.B. 2004, would create verifiable health records on the blockchain that citizens show on entry into public buildings or public transportation to check whether they have or have had the coronavirus.

EFF senior staff attorney said putting any health records on a permanent ledger was a “troubling step” to a national identification system that could be used to track citizens.

Blockchain’s immutability also means that false diagnoses would not be able to be erased.”

The US dollar has become such funny money that politicians are now ‘trillions of dollars apart’ in stimulus negotiations. Remember when a billion was a big number? If this isn’t a wakeup call and an endorsement of Bitcoin, I don’t know what is.”

“Bitcoin’s dominance has fallen to a 12-month low despite its recent rally, signaling renewed strength in the altcoins markets, with the leading cryptocurrency representing 61% of the $359.5 billion combined cryptocurrency capitalization.”