“The American people’s collective jaws are still somewhat agape at the speed and oomph with which Apple, Google, Twitter, Facebook, Amazon and others have recently acted to combat online discussion. With the volume of situations and people they’re dealing with, how can these companies consistently figure out the right place to draw the line, especially when society as a whole doesn’t have a consistent or coherent idea of where to draw the line.
The basic principles needed to create better social networks are not too hard to see:
- Open-source code
- Decentralized control
- Democratic decision making
- Explainable AI – Recommendations of connections and content should be made using open-source AI that has the ability to explain the reasons behind its judgments.
It is well within our current capability to deliver modern social media functions based on decentralized compute power as well as decentralized algorithms.
Your social media and Internet usage data should be owned and controlled by you, and the AI algorithms used to model this data should be under your control. You should be able to inspect and interrogate these models and understand what they are thinking about you and why they are recommending certain things to you and not others.
Transparent, explainable AI applied to a person’s social media and Internet usage data has the potential to be a powerful tool for self-understanding and self-growth. An AI watching what I do will very likely understand some aspects of myself better than I do, and this is of interest to me because I would like to better understand myself.
It’s easy to imagine a smarter, more transparent version of Alexa or Google Assistant designed to serve as an “AI media navigator” finding me what I ask for in a savvy but unbiased way, and recommending me people and content that it genuinely thinks will be of interest to me.
Let us not forget that, alongside all the hate and stupidity, there is a massive influx of brilliant ideas and wonderful creations being put out there on the internet every minute of every day. Most of these have a hard time finding the audience they deserve because of today’s centralized online information architectures.
We have the core tech to enable radically more ethical and beneficial social media networks. All that remains is to get this tech out of the blockchain ghetto and into the internet mainstream. It’s not a small task but the potential benefit is huge. What we’re talking about here is not just a revolution in a certain sector of the software industry. It’s a massive upgrade in how the collective mind and heart of humanity guides its own growth.“
“Credibility is hard to find. But one Los Angeles-based startup is providing what it argues are objective rankings of information distributors. Built on Ethereum, Ideamarket launched this week and lets users put their money behind social media accounts they deem important.
Essentially, you buy tokens in accounts you think are “attention-worthy” or have a reputation you’d like to support. Upvotes cost money and increase in cost as vote count increases. As the price of the token rises you can sell at a profit if you choose, and the account earns interest which can be collected by its owner.
Ideamarket is an entirely new income stream for creators, without dependence on ads or paywalls. Our goal is to liberate journalism from paywalls by giving [journalists and creators] an income stream dependent only on the trust they earn from their audience.
Ideamarket is a new income stream for trusted voices, and a constantly growing expense for propagandists.
Ideamarket’s main goal is to relieve social media platforms of the ‘impossible task of making epistemic judgments on behalf of the public.’ By measuring credibility in dollars, “fake news” becomes permanently and increasingly more expensive.“
“We dream of a financial system that is open, fair, uncensored and trustless. The recent events in the financial markets have been disheartening to see. We recognize this moment as a turning point for all the builders in Decentralized Finance. This past weekend, the Yam Community voted to stand in support with Wall Street Bets and launch uSTONKS on the Degenerative Finance platform.
uSTONKS, designed by UMA Protocol in their uLABS program, will be a synthetic that tracks an index of the ten most bullish Wall Street Bets stocks. Bullishness will be measured by the number of positive comments on the WSB subreddit, with data provided from Swaggy Stocks’s trend tracking.
uSTONK will launch with a quarterly token, uSTONKS-JUN21, with a basket of Wall Street Bets favorite tickers rotated every quarter.”
“If you’ve ever been liquidated on Compound, Aave, dYdX or anywhere else in DeFi, you may have been liquidated by a KeeperDAO bot. KeeperDAO is a liquidity underwriter in DeFi. Anyone can deposit capital and earn a profit in return for allowing the protocol to borrow that capital to execute liquidations, rebalances, and arbitrage opportunities in the DeFi ecosystem.
All profits from these opportunities are split amongst the protocol’s liquidity providers and Keepers—the actors who initiate the transactions. The protocol is currently deploying over $20M per day towards profitable opportunities, generating half a million per day in profits to users.
KeeperDAO’s P/S ratio is substantially lower than the average in DeFi right now (Lower can mean better value). With DeFi tokens experiencing a recent bull run, the average P/S ratio in the sector currently stands at a lofty ~150. Meanwhile, KeeperDAO barely shows up on the radar with a P/S ratio of ~6. KeeperDAO’s native token is up over 675% YTD—outperforming the DPI by nearly 2.5x.”
See Also: Aave: Road to Billions
“The GameStop drama awakened a greater interest in financial market plumbing, something that very few had bothered to care about before. When we see what looks like institutions trampling on the retail investor, we have questions. This is happening at the same time as an explosion of interest and development in DeFi applications.
The economic value riding on DeFi platforms has almost tripled since the beginning of the year, to $41.9bn at time of writing. These platforms are usually powered by tokens which confer access and governance rights – the aggregate value of the 100 largest tokens by market cap currently stands at $83 trillion (yes, with a “t”), with over $16 trillion in 24-hour trading volume. The DeFi Pulse Index, which tracks 10 of the largest tokens by market cap, has risen over 260% year-to-date.
Institutional onramps are spreading. Coinbase Custody has offered institutional clients trading and custody services for DeFi tokens for some time now, and has listed four new DeFi tokens so far this year. Given the public support for examining structural inefficiency and fragility in traditional capital markets, and the increase in DeFi activity and innovation, the growth in mainstream interest is likely to accelerate.
This will be positive for those building the capital markets of tomorrow, and for those that invest in these projects. Smart money will hopefully understand the risks involved. But getting in early on a transformational innovation rewards the brave. And current market infrastructure is getting ready to help this along.”
“Rocket Pool is the base layer protocol for decentralised and trustless ETH2 staking. Designed to support stakers of all shapes and sizes, Rocket Pool was built with the intent to allow anyone to trustlessly stake ETH to a network of decentralised node operators with full autonomy underpinned by RPL collateral.
Rocket Pool strives to embody the core ethos of Ethereum and DeFi, specifically the non-custodial, trustless nature that allows self-sovereignty to truly thrive. This is why creating the protocol layer for ETH2 staking is so important, especially with the vast majority of players either not having the technical skills to run a node, or the financial capacity to own 32 ETH. With Rocket Pool you can stake as little as 0.01 ETH.
In exchange for depositing ETH to Rocket Pool, users receive rETH in return. rETH is fully composable in the wider DeFi landscape, while accruing value from ETH earned through ETH2 staking. Rocket Pool’s staked ETH wrapper, rETH, is the purest in DeFi. We foresee a vibrant ecosystem of integrations ranging from lending markets to run validators more efficiently to composability for productivity.
In short, rETH is a natural building block for Etherum, and the most trust-minimised form of staked ETH.”
See Also: Colony v2 Launch
“While many traders are skilled at using perpetual futures and the basic margin investing tools available on most exchanges, they may be unaware of additional instruments that can be used to maximize their gains. One simple way, albeit expensive, is buying Ether call option contracts.
This multiple options strategy trade provides a better risk-reward for those seeking exposure to Ether’s price increase. Moreover, there is zero upfront funds involved for the strategy, except from the margin or collateral deposit requirements. Overall it yields a much better risk-reward from leveraged futures trading, for example.”
“The United States will adopt bitcoin as a reserve asset. The question is not if this will happen, but when. Whether it happens within 12 months, two years, five years or 10 years will have major implications for U.S. positioning for decades. Failure to embrace bitcoin sooner rather than later will damage U.S. strategic interests and benefit rivals adopting it first.
While bitcoin shares many similarities with gold, including scarcity, stable supply inflation, fungibility and durability, it also makes major improvements over gold in some key areas. So far, countries and their central banks have resisted (publicly) making or disclosing investments in bitcoin. But there is near certainty that this dynamic will ultimately reverse, potentially within the next 12 months.
Why? Simple economic incentives. In the near term, there exists an irresistible arbitrage opportunity for a country silently to accumulate a bitcoin position and later announce its holdings. In the longer term, bitcoin represents a sovereign wealth-building opportunity with asymmetric risk/reward upside.
If America’s rivals embrace bitcoin first and take advantage of the reserve asset arbitrage, not only will they secure a once-in-a-generation economic windfall, they will also be in position to damage U.S. foreign policy and strategic interests.
The U.S. has found itself at the crossroads of many consequential technology shifts before: the space race, the atom bomb, the internet and, more recently, the race for general purpose artificial intelligence. The outcomes of these sovereign techno-economic games determine the fate of empires.“
“A subsidiary of a firm overseeing more than $230 billion in assets will work with Galaxy Digital on what could be the third bitcoin ETF in Canada.
Two bitcoin ETFs went live this week, offering investors a way to gain exposure to bitcoin by buying stock, rather than the asset itself. ETF managers purchase an underlying asset on behalf of investors trading on the stock market, for a fee.”
“A new study has found that a majority of American believe cryptocurrency is a safe investment. Further, 25% already own crypto with another 27% saying they plan to invest this year. A separate question found that 30% of those surveyed said they do not understand crypto, while 13% said they never heard of cryptocurrency.
The words “we’re still early” did not appear anywhere in the survey.”