politics / 17 posts found
Japan’s Government DAO Could Outpace Its Private Sector in Web3
In the last few years, world governments have become increasingly interested in blockchain technology’s potential to enhance the complex process of governing. So far, examples include institutional NFT marketplaces that stand to make visits to the DMV a thing of the past, while NFT sales envision Web3 as fundraising channels for political campaigns, and even national defense. But the Japanese government may be among the first to explore the possibilities of Decentralized Autonomous Organizations (DAOs). On November 2, the Digital Agency of Japan announced its intentions to convert its Web3.0 Study Group initiative into a full-fledged DAO. The aim is […]
To Fund Prison Reform, Artists Heno and Andre Oshea Turned to NFTs
The United States is home to less than five percent of the world’s population, but houses nearly 25 percent of the world’s total prison population. Chances are you’ve encountered this shocking statistic in some form within the past decade. Dictated most notably by Hillary Clinton during a speech on criminal justice in 2015, this unfortunate fact has since been verified by scholars and news outlets with the prestige of The Washington Post. Yet, while these figures, by some estimates, have dropped to roughly four and 16 percent within the last few years, respectively, recidivism rates have continued to create a […]
BREAKING: Bored Ape’s Yuga Labs Faces Investigatory SEC Probe
The Alpha: As per a Bloomberg report, Yuga Labs is facing an investigation from the United States Securities and Exchange Commission (SEC) on the legality of the sales of its high-value NFT offerings. Most notably, that includes pieces from the renowned Bored Ape Yacht Club collection that’s turned PFP NFTs into a Web3 household name. Best-known in the NFT space for creating the Bored Ape Yacht Club NFT collection, Yuga Labs has used the success of its flagship project to build a burgeoning media empire, spanning endorsements from major sports leagues, high fashion brands, and even a metaverse-ready gaming experience. […]
The White House Just Released a Framework for Regulating Digital Assets
The Alpha: Early in September 2022, the White House published a report calling for more sustainable practices across the blockchain industry. Now, the White House has offered solutions in the form of a comprehensive framework centered around the “responsible development of digital assets.” This framework outlines the actionable next steps that will be taken, which include things like: Regulators scaling up investigations into digital asset market misconduct, redoubling their enforcement efforts when it comes to existing rules and regulations, and strengthening interagency coordination. The Financial Literacy Education Commission leading public-awareness efforts to help consumers understand the risks involved with digital […]
NFTs and the Environment: Why the Anger Is Unjustified
Despite still being in their infancy, non-fungible tokens (NFTs) have already helped a variety of people accomplish amazing things. The blockchain-based technology has given artists a new way to create and sell their work, allowed researchers to raise money for scientific institutions, and even aided Ukrainians during the Russian invasion (in a number of ways, in fact). NFTs are also at the center of a rather serious controversy regarding climate change and the environment. Specifically, some allege that NFTs increase the already exorbitant carbon footprint of blockchains like Bitcoin and, as a result, significantly contribute to an already worrying climate […]
White House to NFT Space: Make Minting Greener
The Alpha: A Thursday report published by the White House on Thursday has detailed a list of steps all blockchains can take to become more environmentally sustainable, which directly affects the NFT space. The report argues blockchains operating under a proof-of-work consensus mechanism — namely Bitcoin and Ethereum — are particularly energy-consumptive. With Ethereum taking up to “20% to 39%” of the global energy usage generated by blockchains, the upcoming Ethereum merge may help reach the sharp reduction in blockchain energy consumption the White House is calling for as it shifts to a proof-of-stake consensus mechanism. The report follows the […]
ISIS Is Minting Propaganda: When NFTs Put Lives on the Line
The Alpha: An alleged “terrorist sympathizer” just minted an ISIS announcement — along with two pieces of ISIS propaganda — as NFTs, according to an initial report from the Wall Street Journal (WSJ). Since their discovery on public NFT marketplaces Rarible and OpenSea, the “terror NFTs” have been delisted. As part of the WSJ report, intelligence experts believe terror groups could use blockchain technology to raise funding for terror campaigns. Why it matters: So why mint these “terror NFT” in the first place? It’s all about the blockchain. The alleged “terrorist sympathizer” may have turned to NFTs due to their […]
New EU Law Will Regulate NFT Collections Like Cryptocurrencies
On August 2, during a panel at Korea Blockchain Week, European Union (EU) Advisor Peter Kerstens offered new insights into the EU’s attempts to create broad regulatory measures in the crypto and NFT spaces. According to Kerstens, under the Markets in Crypto-Assets (MiCA) law, NFT collections will receive the same treatment as cryptocurrencies, CoinDesk reports. With this new classification, EU citizens hoping to put an NFT collection up for sale will fall under the umbrella of crypto-asset service providers (CASPs), and will need to receive express authorization from the EU before offering up their services (or wares) to the public. […]
Japan’s Central Bank Has Abandoned Its Digital Currency Plans
The Bank of Japan (BoJ) is scrapping its planned host of central bank digital currency (CBDC) services due to a reported lack of public interest, according to an initial report from Asia Times. Among other things, this means one aspect of Japan will remain unchanged since the Japanese bubble economy of the 1980s: its reliance on conventional, fiat-based currency. This move came despite the promise of CBDC, which could be the first truly peer-to-peer digital form of conducting money transactions, as existing digital wallets still require the presence of intermediary institutions like financial institutions, issuing and acquiring banks, payment service […]
A Senator Is Calling for Google and Apple CEOs to Stymie Crypto Scams
For all of Web3’s successes in celebrating diversity and raising funds for unquestionably noble causes, the Web3 space still has its fair share of bugbears — scammers. Thefts, rug pulls, and the like remain a distinct risk for anyone making their first steps into Web3. However, these bad actors don’t just look to target members of the crypto and NFT communities on their home turf via wash trades. Some have looked to gain access to users’ crypto wallets in a seemingly innocent way: via mobile apps. The lengths that scammers have gone to forcibly part users from their hard-earned crypto […]