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Category Archives: blockchain

The AI hype bubble is the new crypto hype bubble

Pluralistic / Cory Doctorow: “…Blockchain was a solution in search of a problem. So is AI. Yes, Buzzfeed will be able to reduce its wage-bill by automating its personality quiz vertical, and Spotify’s “AI DJ” will produce slightly less terrible playlists (at least, to the extent that Spotify doesn’t put its thumb on the scales by inserting tracks into the playlists whose only fitness factor is that someone paid to boost them). But even if you add all of this up, double it, square it, and add a billion dollar confidence interval, it still doesn’t add up to what Bank Of America analysts called “a defining moment — like the internet in the ’90s.” For one thing, the most exciting part of the “internet in the ’90s” was that it had incredibly low barriers to entry and wasn’t dominated by large companies – indeed, it had them running scared. The AI bubble, by contrast, is being inflated by massive incumbents, whose excitement boils down to “This will let the biggest companies get much, much bigger and the rest of you can go fuck yourselves.” Some revolution. AI has all the hallmarks of a classic pump-and-dump, starting with terminology. AI isn’t “artificial” and it’s not “intelligent.” “Machine learning” doesn’t learn. On this week’s Trashfuture podcast, they made an excellent (and profane and hilarious) case that ChatGPT is best understood as a sophisticated form of autocomplete – not our new robot overlord…”

Blockchain – Innovation or Illusion?

Via Slashdot, EditorDavid: “Adam R. Smith, a software engineer with 40+ years of experience reportedly became frustrated with his friends and associates’ claims about the potential of crypto technology and their subsequent losses of money in various schemes, and set out to write a series of articles explaining what blockchain is and whether it lives… Continue Reading

The Stable in Stable Coins

Federal Reserve Borad, December 16, 2022 – The stable in stablecoins – Garth Baughman, Francesca Carapella, Jacob Gerszten, and David Mills: “Stablecoins have garnered much attention as a key part of the emerging decentralized finance (or “DeFi”) ecosystem, and as a potential way to pay for goods and services. Stablecoins facilitate trades on crypto exchanges,… Continue Reading

CRS Video Seminars on Disruptive Technologies

CRS Seminars on Disruptive Technologies: Videos – Updated December 8, 2022: CRS Seminars on Disruptive Technologies: Videos – “New technologies, and those that represent an evolutionary improvement of an existing tool or process, that exhibit the potential to have large-scale effects on social and economic activity are often referred to as “disruptive” technologies. They can… Continue Reading

CFPB Publishes New Bulletin Analyzing Rise in Crypto-Asset Complaints

“Today, the Consumer Financial Protection Bureau (CFPB) released a new complaint bulletin that highlights complaints the CFPB received related to crypto-assets. Consumers most commonly reported being victimized by frauds, theft, account hacks, and scams. Consumers also had issues with executing transactions and transferring assets between exchanges. Many consumers had issues with accessing funds in their… Continue Reading

Climate Action Data Trust

“The International Emissions Trading Association (IETA) today revealed information on the forthcoming launch of Climate Action Data Trust (CAD Trust), a decentralised metadata system that can link, aggregate and harmonise all major carbon market registry data.Climate Action Data Trust (CAD Trust) is a joint initiative of the International Emissions Trading Association, The World Bank and… Continue Reading

A new definition of crypto comes from the IRS

Coin Telegraph: “…No matter how much attention the United States Securities and Exchange Commission (SEC) or Commodity Futures Trading Commission gets in the crypto industry, for individual traders and investors, it often comes down to the Internal Revenue Service’s (IRS) position — and how much tax one owes. Last week, the IRS last week released… Continue Reading

Existing and Potential Use Cases for Blockchain in Public Procurement

Telles, Pedro, Existing and Potential Use Cases for Blockchain in Public Procurement (July 20, 2022). Available at SSRN: https://ssrn.com/abstract=4168144 or http://dx.doi.org/10.2139/ssrn.4168144 “The purpose of this paper is to assess the possibility of using blockchain technology in the realm of public procurement within the EU, particularly in connection with the award of public contracts. In this… Continue Reading