Want to monetize your data? Here's your chance. Amazon will pay you $25 for a full body scan.
Your health data is a digital representation of yourself. This is just a salient, up front example of that, and the responses are fascinating.
Facebook planning to launch 'GlobalCoin' in 2020 across a dozen countries
Something about "GlobalCoin" seems strangely dsytopian to me. Better than ZuckBucks, I suppose.
On a serious note this is an incredibly important development for the space and the global economy. In 10 years the story of Facebook up to this point might simply be seen as a preamble to its real end game: becoming the largest non-state currency issuer of all time.
Facebook has been unifying the underlying infrastructure of Instagram, Messenger, and Whatsapp
to let information flow across these platforms. Deploying a stablecoin to this unified infrastructure would provide exposure to a collective 2,700,000,000 monthly active users. That's nearly double the population of China. With a go-to-market focused on remittances in places like India, as well as integrating into online merchant services, I think they have a good shot at becoming systemically important for the global economy.
Crypto's proponents will point out that GlobalCoin will be backed by fiat currency held in Facebook's bank account somewhere, and in that way it's no different than traditional banking, except on the blockchain this time. I'd argue that that is actually the whole point
. The dollar itself began fully backed by gold, until one day, it suddenly wasn't. That's the game plan for GlobalCoin too: become systemically important to the global economy and then debase from fiat. That would leave Facebook as a central bank with sole control of the world's most important currency.AT&T Now Accepts Cryptocurrency Payments
Some smart VC friends of mine think that this is because AT&T has proprietary data showing that crypto is very popular with millennials.
Inside Moloch: A new DAO aims to fix Ethereum
Moloch seeks to solve coordination problems around the allocation of funding to projects. The immediate goal is to help fund further development of ETH2.0, but on a long time scale it's an attempt to further decentralize the Ethereum ecosystem by introducing another source of funding. It's one of the most interesting experiments in the space and recently garnered 4,000 ETH from the likes of Vitalik and Joe Lubin themselves
Blockchain is Not One Thing
Corey Todaro of Hashed Health issued the first in what looks to be a series of articles on blockchains, or rather, distributed ledgers. In this article he makes the case that a blockchain is not simply one thing and draws the distinction between what he is calling "fully distributed ledgers" and "reciprocal ledgers."
Emerging privacy preserving technologies are game changing
We’re struggling to grapple with the growing demand for our data at the same time as growing calls for privacy. A family of technologies is emerging that can help.
Podcast: Reserve Co-Founder talks Stablecoins with Pomp
Thanks to Roger Boodoo
for pointing me to this.