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“The evidence now suggests a 3 to 4 degree warming by mid-century, not accounting for tipping points—which could easily be 5 or 6 degrees.”
“Decentralized Society: Finding Web3’s Soul,” a whitepaper by researchers E. Glen Weyl and Puja Ohlhaver, and Ethereum co-founder Vitalik Buterin is published. In it, the trio describe a web3 where tokens denoting “commitments, credentials, and affiliations” are “soulbound” to individuals, and these non-transferable identity markers are used to govern more efficiently (e.g. DAO vote-weighting based on expertise) and to generate more equitable datasets (opt-in with privacy controls). Moving beyond ‘trustless’ DeFI frameworks, they propose decentralized sociality (DeSoc) “which encodes trust networks that underpin the real economy today.” Drawing on the community and infosec foibles in crypto over the last decade, they extend the model to prevent concentrations of power, and propose checks and balances to protect its decentralization.
“It takes at least 10 hours to produce 1 kWh on a bike generator. The electricity price in France is roughly €0.20 per kWh, so that’s what you would earn that day!”
Manouach & Engelhardt
Chimeras
With a market capitalization of $2.4 trillion, Saudi Aramco replaces Apple as the world’s most valuable company. Meta, Netflix, Robinhood—tech stocks are tanking right now and Apple is down 20% this year. There is more at play here than investors exhibiting a newfound skepticism towards Big Tech’s bottom line—or optimism that the oil sector will clean up its act. The Russian incursion into Ukraine has sent oil prices—commodities—soaring, further exasperating supply chain woes brought on by the pandemic. “There’s panic selling in a lot of tech and other high-multiple names, and the money coming out of there seems headed for energy in particular,” notes Tower Bridge Advisors’ James Meyer on the cynical flow of capital back to fossil fuel.
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