Browsing: blockchain

So, while there are marketplaces on the Internet, in some ways, the Internet, itself, is a marketplace. Right now, that marketplace seems to be in Web 2.0 mode: there are centralized platforms, which are, like, Goliath shopkeepers - Google, Meta, Amazon, X and more - dominating, selling their products, determining who enters, who gets the best spots and additionally, keeps detailed info about what all visit, why and when. The services may be free, but as it's often said - if you're not paying for it, you are the product.

So, this 2.0 seems to be the status quo. They have the infrastructure, the user base, operational maturity after being in the business for decades, people are acclimated to the Web 2.0 interface & we've all gotten heavily reliant on it all for our communication, our commerce and more. Our dependency seems entrenched, almost.

But, in the 2020s, maybe, just, maybe, a 3.0 is brewing.

And what does that 3.0 look like? It's an open marketplace, where everyone owns a part of the space. There's no dominating shopkeeper. Someone visiting would have complete ownership of what they do and where they visit.  There's no middleperson and there's full transparency about how everything works.

Think of all the technologies that are trying to disrupt the status quo. UPI wanted to change how people transact. So did crypto. So…

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By 2018, it seemed like Blockchain tech was completely dominated by males. Over time, the percentage of women in blockchain…

Remember when Elon Musk used to be one of Bitcoin's biggest proponents? It sure seemed that way. One could even purchase Tesla vehicles using Bitcoin. Then, something changed in May 2021.

At that point in time, Musk stated that Tesla would no longer accept Bitcoin. Why? Over climate concerns. To those not oriented, they may have been scratching their heads. What was the connection between Bitcoin and climate change?

Bitcoin is said to rely on something called PoW. Not a Prisoner of War, but a Proof of Work, which is, basically, an algorithm that requires miners to solve complex puzzles for transactions to be validated. It sounds cool and very National Treasure-y, but this is something that requires a lot of computational power, consuming a lot of electricity. It's so substantial that just Bitcoin is said to consume more electricity than a couple of countries, including Norway. That might leave a dinosaur-sized carbon footprint, especially if that electricity comes from fossil fuels. On top of needing a lot of electricity for crypto mining equipment, there are said to be cooling systems required to prevent overheating.

So, has that been the stone in crypto's shoe? Not as green as Greta Thunberg would like? Because crypto is something that has been lauded as a phenomenon that could revolutionize finance by decentralizing transactions. But, could crypto be greened? Or could its environmental impact be reduced?

In October 2024, it was announced that Indian performer Rashmika Mandanna had been appointed as the national brand ambassador of the Indian Cyber Crime Coordination Centre (I4C), which is an initiative of India's Ministry of Home Affairs to combat cyber crimes. And why her? It may not just be because of her name brand. She was, unfortunately, subject to a deepfake in November 2023, making people wonder whether deepfakes could be weaponized as gender-based harassment.

It could go beyond that, however. It could, even, have political ramifications.

"What a bunch of malarkey. You know the value of voting Democratic. Our votes count. It’s important that you save your vote for the November election. We’ll need your help in electing Democrats up and down the ticket. Voting this Tuesday only enables the Republicans in their quest to elect Donald Trump again. Your vote makes a difference in November, not this Tuesday"

Many people may still consider crypto and Blockchain as synonymous, when, in reality, there may be a whole world of…

In April 2024, a news report outlined that social media personality Tanmay Bhat's net worth was said to be more than 650 crore rupees. Sounds pretty cool. Bhat responded to this claim, remarking that the number was wildly off. Nonetheless, it seems like he may be pretty well-off. Content creators in the creator economy, like Bhat, MrBeast, MostlySane or others, may be pretty successful.

In 2022, according to Kalaari Capital, India had about 80 million content creators. But, only about 150,000 of them can effectively monetize their services. The 150k of them were said to be earning about $200 to $2500, which is about 16,000 rupees to 200,000 rupees a month. Less than 1% of professional creators with more than a million followers were said to be earning more than 50 lakh rupees a month. However, that could just mean some do better than others, that happens in all industries.

And sure, the creator economy could signify the power of independence and individual creativity. 

But, are there certain hurdles that creators face that could be solved by Blockchain? It's said that content creators in the creator economy are struggling with monetization models relying heavily on intermediaries. Could Blockchain disrupt this paradigm and help with better monetization avenues?

"The future of money". That's how crypto was heralded. And the markets seemed to agree. At one point in time, in November 2021, it hit close to $70,000. Then, there was an FTX debacle in 2022 that seemed to hurt the sentiments around crypto. A stablecoin called Terra and its sister token Luna collapsed, wiping out about half a trillion dollars from crypto markets. And after peaking at $3 trillion in November 2021, the crypto market plummeted in 2022, hitting a 2-year low of about $795 billion. So, Bitcoin got to a point as low as about $16,000 in 2022 after its high point of about $70,000.

Though, since then, Bitcoin gradually began to rise. In April 2024, it hit the $71,000 mark. Yet, it's fallen a bit since then.

And at a time that's being considered the golden age of AI, is something like crypto a neglected child? How relevant is it in 2024?

If you're from India, it's probably been a while since you were on TikTok. But, if you're from the US, the Chinese entity ByteDance-owned social media platform may be part of your daily diet of social media. That may change.

In April 2024, the US House of Representatives passed a bill to ban TikTok in the country. And if this Bill is passed by the US Senate and signed by US President Joseph Biden, it's said it could be the first time the government is taking drastic measures to kill a social media entity. Unlike some other social media platforms which may have fizzled out on their own.
But, why does the US government care about banning TikTok?