TIME's NFT, CBDCs and Freedom, and a DAO for Laughs
Plus, crypto mining is destroying some people's sleep
TIME Magazine releases entire issue as an NFT. Meanwhile, GameStop plans to launch an NFT marketplace.
Binance has left Ontario. But are they cooperating with Russia?
Crypto lender BlockFi was the target of a breach that led to personal data of customers being leaked.
Bitcoin advocates have long considered cryptocurrencies to be tools to enhance individual freedom, but one prognosticator says President Joe Biden’s CBDC is a threat to freedom. Another says Canada’s crypto seizure reveals cryptocurrency’s inherent flaws.
Today’s must-read: Residents of a rural neighborhood in the Appalachians have discovered the downside of bitcoin mining—it’s noisy. China banned crypto mining last year and that has led to mining companies moving to America, searching out the best places with the lowest electricity costs. That’s often in rural areas. But I can’t help but wonder how many more social issues will be caused by crypto mining. Rural people typically love their peace and quiet.
A WIRED journalist created a DAO “for laughs.” I wonder if he considered the pros and cons of DAO voting systems. DAOs have steadily grown in size and influence and the top 5 DAO treasuries all hold more than half a million dollars. On Ethereum, DAOs have topped $8.2 billion. The number is $1.3 billion on Solana. A startup in San Francisco called Coinbooks is creating an accounting software package for DAOs. It looks like DAOs may have a future, after all.
Forbes asks, Is the metaverse worth the hype? And Second Life creator says Facebook-like business model won’t work for the metaverse. That’s why his creation uses a different model.
Quadrata partners with TransUnion to provide the credit scorer’s customer data for crypto loans.
Snark and commentary in italics.
Cryptocracy is a decentralized newsletter published 4 times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.
First published at Cryptocracy. Not to be construed as financial advice.