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June 20, 2022
These past two weeks have been filled with keeping my head above water and up to date on whats going on with the world, economy, and my mom who has been recovering from heart surgery. So throwing a few different seemingly random topics together that will make sense in the end.
1. Let’s skip web4 and go right to web5 as Jack Dorsey outlined in his tbd announcement two weeks ago. It will not have blockchain. It will not have smart contracts. It will all be on Bitcoin.
https://developer.tbd.website/projects-index
https://www.coindesk.com/business/2022/06/10/jack-dorseys-tbd-announces-web-3-competitor-web5/
No product. No release date, just a one man’s vision of what the future could look like. If anything, it sparked conversation and couldn’t come at a more opportune time than during Consensus.
2. At larger institutions, aka banks, players are hoping for DeFi to leverage high- yield generating potential of non crypto assets. How would they do this you ask… through tokenizing US Treasuries or Money Market funds to be used as collateral in DeFi pools. Two ways they are doing this, time now, are through BlackRocks Money Market fund shares and “Project Guardian,” which is testing the liquidity pools of tokenized bonds and deposits. It is important to note that these players are able to do this because they are relying on other large financial institutions to verify customer information as opposed to DeFi platforms or crypto native firms.
3. Is Tiktok the new VCtok for deal flow and talent acquisition… Redpoint Capital thinks so… they had 1M followers last month and this is just the beginning. With more than 1B users under the age of 30 on TikTok today, it brings democracy of industry knowledge to the forefront… aligning quite nicely with the pillars of web3 that call for decentralization in infrastructure and communication.
4. The resiliency and persistence of founders, investors, and simply people rise during times of struggle. Time is now to bunker down and build. One DAO I’ve been following closely is Orange DAO.
Founder, Ricardo Garcia-Amaya, built a community around other alumni of YC to developed a DAO, with 3 committees: governance, treasury, and development. They have over 50 live proposals, 5 engineering teams working on projects within the DAO, and 50 channels for different specialities. What has helped them generate so much success and traction is simple. Community. Building around your tribe adds trust and loyalty and un weathering conviction even during down turns.
https://www.web3roundup.xyz/p/harnessing-the-talent-of-y-combinator?s=w
5. Got to catch up with Sharlene Guiriba, writer of this article below…
https://harlem.capital/web3-primer/
We talked a lot about the noise of what’s going on in the market, the different layers and protocols within the infrastructure of blockchain. One of the beautiful things about web3 is that it is collaborative and knowledge share friendly. I reached out on a cold email (which does work), and we were able to just nerd out. It felt amazing! Learned about the importance of protocols and smart contracting held within the different layers of blockchain and I showed her this recent twitter post I read of a concept called Proof of Quorum (PoQ)… linked below.
PoQ is community based decision making at its core. A majority group of nodes, who participate in a consensus, accept an outcome. It is proved by unique digital wallet signatures to prevent bad actors and it uses linear scalability to help a network scale horizontally by increasing the TPS as more nodes join. This ensures decentralization and constant lower gas fees regardless of the number of users. Shardeum, a layer 1 protocol, uses dynamic sharding to do this through its three types of nodes: validator, archive, and standby. Sharding is by definition the way nodes in a network are divided by different sets of transactions to achieve parallel processing.
https://twitter.com/AmitejRana/status/1528269771615371264
5. I finally found my Lens Protocol Social token. Thanks to a new friends at a crypto HH. You apparently have to change the network on your wallet to Polygon. Still figuring out how it all works. If this is a problem for you… here is a helpful link to steps.
https://metaschool.so/articles/how-to-change-add-new-network-metamask-wallet/
I’ve been reading a bunch on those in the space that are hating on web3 and more to come next week as I tackle some of these opinions in the space.
In summary, how does this random collection of information connect to one another? What we have learned that sustains this world through the up and downs is community. People that will make it through this downturn even or ahead have a tribe. Strength is in the numbers. This world is a lonely and unforgiving place when we try to tackle our problems alone. Sometimes we have to remember to take a step back and remember the importance of the people who surround us. One person’s opinion of the future is just not as strong as a collective community’s vision that is grounded on trust + loyalty.
For now going to enjoy the busy week ahead. Good luck to all those attending NFT.NYC week festivities. Strength + Resiliency+ Your Tribe.
Keep it real always.
June 20, 2022
These past two weeks have been filled with keeping my head above water and up to date on whats going on with the world, economy, and my mom who has been recovering from heart surgery. So throwing a few different seemingly random topics together that will make sense in the end.
1. Let’s skip web4 and go right to web5 as Jack Dorsey outlined in his tbd announcement two weeks ago. It will not have blockchain. It will not have smart contracts. It will all be on Bitcoin.
https://developer.tbd.website/projects-index
https://www.coindesk.com/business/2022/06/10/jack-dorseys-tbd-announces-web-3-competitor-web5/
No product. No release date, just a one man’s vision of what the future could look like. If anything, it sparked conversation and couldn’t come at a more opportune time than during Consensus.
2. At larger institutions, aka banks, players are hoping for DeFi to leverage high- yield generating potential of non crypto assets. How would they do this you ask… through tokenizing US Treasuries or Money Market funds to be used as collateral in DeFi pools. Two ways they are doing this, time now, are through BlackRocks Money Market fund shares and “Project Guardian,” which is testing the liquidity pools of tokenized bonds and deposits. It is important to note that these players are able to do this because they are relying on other large financial institutions to verify customer information as opposed to DeFi platforms or crypto native firms.
3. Is Tiktok the new VCtok for deal flow and talent acquisition… Redpoint Capital thinks so… they had 1M followers last month and this is just the beginning. With more than 1B users under the age of 30 on TikTok today, it brings democracy of industry knowledge to the forefront… aligning quite nicely with the pillars of web3 that call for decentralization in infrastructure and communication.
4. The resiliency and persistence of founders, investors, and simply people rise during times of struggle. Time is now to bunker down and build. One DAO I’ve been following closely is Orange DAO.
Founder, Ricardo Garcia-Amaya, built a community around other alumni of YC to developed a DAO, with 3 committees: governance, treasury, and development. They have over 50 live proposals, 5 engineering teams working on projects within the DAO, and 50 channels for different specialities. What has helped them generate so much success and traction is simple. Community. Building around your tribe adds trust and loyalty and un weathering conviction even during down turns.
https://www.web3roundup.xyz/p/harnessing-the-talent-of-y-combinator?s=w
5. Got to catch up with Sharlene Guiriba, writer of this article below…
https://harlem.capital/web3-primer/
We talked a lot about the noise of what’s going on in the market, the different layers and protocols within the infrastructure of blockchain. One of the beautiful things about web3 is that it is collaborative and knowledge share friendly. I reached out on a cold email (which does work), and we were able to just nerd out. It felt amazing! Learned about the importance of protocols and smart contracting held within the different layers of blockchain and I showed her this recent twitter post I read of a concept called Proof of Quorum (PoQ)… linked below.
PoQ is community based decision making at its core. A majority group of nodes, who participate in a consensus, accept an outcome. It is proved by unique digital wallet signatures to prevent bad actors and it uses linear scalability to help a network scale horizontally by increasing the TPS as more nodes join. This ensures decentralization and constant lower gas fees regardless of the number of users. Shardeum, a layer 1 protocol, uses dynamic sharding to do this through its three types of nodes: validator, archive, and standby. Sharding is by definition the way nodes in a network are divided by different sets of transactions to achieve parallel processing.
https://twitter.com/AmitejRana/status/1528269771615371264
5. I finally found my Lens Protocol Social token. Thanks to a new friends at a crypto HH. You apparently have to change the network on your wallet to Polygon. Still figuring out how it all works. If this is a problem for you… here is a helpful link to steps.
https://metaschool.so/articles/how-to-change-add-new-network-metamask-wallet/
I’ve been reading a bunch on those in the space that are hating on web3 and more to come next week as I tackle some of these opinions in the space.
In summary, how does this random collection of information connect to one another? What we have learned that sustains this world through the up and downs is community. People that will make it through this downturn even or ahead have a tribe. Strength is in the numbers. This world is a lonely and unforgiving place when we try to tackle our problems alone. Sometimes we have to remember to take a step back and remember the importance of the people who surround us. One person’s opinion of the future is just not as strong as a collective community’s vision that is grounded on trust + loyalty.
For now going to enjoy the busy week ahead. Good luck to all those attending NFT.NYC week festivities. Strength + Resiliency+ Your Tribe.
Keep it real always.
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