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Decentralized social media is peer-to-peering into the future

31.08.2017 News 0

Social media proofs of concept on the blockchain demonstrate important value propositions of decentralized apps.

In 2016, Steemit pioneered the world’s first blockchain-based decentralized social network and in my view remains one of the most important blockchain projects today.

Boiled down to its simplest form, Steemit is a kind of reddit with the property that creating interesting content, or curating it effectively, will earn users real money on the platform in the form of a cryptocurrency called Steem. There is no barrier to entry. Just create an account and start earning.

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#198 Nick Morgan: The DAO, the SEC and the ICO Boom

Nick Morgan, a former attorney at the SEC, joined us to discuss their recent report on the DAO and what it means for the ICO boom.

Topics discussed in this episode:

  • The history and mandate of the SEC
  • Nick’s years as a trial attorney at the SEC
  • How the Howey Test is used to determine if something is a security
  • The application of the Howey Test to the DAO case
  • The weaknesses in their argument that token holders relied on the effort of others
  • Why the SEC did not prosecute the Slock.it founders
  • Why the SEC will likely focus on token sales involving fraud
  • How the SEC’s limited resources will make it hard for it to impact the ICO boom
  • The implications of the SEC report for cryptocurrency exchanges

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Watch or listen, Epicenter is available wherever you get your podcasts.

Epicenter is hosted by Brian Fabian Crain, S?ƒbastien Couture & Meher Roy.

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Alleviating corruption and poverty with technology

29.08.2017 News 0

It takes 16 hours to drive from Lagos to Abuja, but one hour to fly. According to Google Maps, the trip should take under 12 hours. However, police will stop you every 30 minutes or so to ask for bribes. If you don’t pay up, you risk jail or your tires being slashed. My younger brother calls it “oil money” — ancillary payments such as these grease the wheels of Nigerian society.

The lack of accountability and corruption are entrenched in Nigerian society. Nigeria’s growing population of 185 million has encountered rising unemployment and violence. Youth under the age of 25 — more than 60% of the population — have been hit hardest. These are my cousins — talented and capable, with much to contribute. Society is leaving them behind.

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Making token sales smart

28.08.2017 News 0

One of the core benefits of blockchains is that they enable you to transfer assets to anyone around the globe. These assets can be native “protocol tokens,” like bitcoin or ether. They can be “app tokens,” which are managed by small computer scripts running on the Ethereum blockchain known as smart contracts. Or tokens can represent real world assets, like a barrel of oil, diamonds, stocks, bonds, investment securities, a piece of machinery, or even a contract itself (e.g., a lease, deed, or title to property).

Ethereum makes it relatively easy to create tokens. With less than a hundred lines of code, a software developer can create an ERC20 token, deploying a smart contract program on Ethereum that keeps track of who owns a given token at a particular point in time. Over the past several years, ERC20 tokens have taken the world by storm, with over $1.8 billion in tokens sold to date.