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        <lastBuildDate>Fri, 21 Aug 2026 04:51:22 GMT</lastBuildDate>
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            <title><![CDATA[Why NFTs Will Continue To Grow In Popularity]]></title>
            <link>https://paragraph.com/@annoyedotter4/why-nfts-will-continue-to-grow-in-popularity</link>
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            <pubDate>Thu, 19 May 2022 08:33:56 GMT</pubDate>
            <description><![CDATA[Non-Fungible Tokens (NFTs) continue to remain a top topic in the crypto world. In the digital world, originality is king and so is branding. If a blockchain-based art work can be sold for hundreds of dollars, why not the original piece? Artists can use technology to mint and sell NFTs directly to fans. That removes the need for a middleman and facilitates trustless peer-to-peer transactions. The success of the first NFT project in the U.S. spurred on several other projects. Time magazine, for...]]></description>
            <content:encoded><![CDATA[<p>Non-Fungible Tokens (NFTs) continue to remain a top topic in the crypto world.</p><p>In the digital world, originality is king and so is branding. If a blockchain-based art work can be sold for hundreds of dollars, why not the original piece? Artists can use technology to mint and sell NFTs directly to fans. That removes the need for a middleman and facilitates trustless peer-to-peer transactions.</p><p>The success of the first NFT project in the U.S. spurred on several other projects. Time magazine, for example, has partnered with companies like VeVe to sell pieces of contemporary art. This initiative will allow users to become part of a community, allowing them to access exclusive digital experiences. Axie Infinity’s NFTs will likely increase in value by more 200 percent by 2022, and OpenSea just recently surpassed over a billion dollars in revenue.</p><p>To avoid missing out on great opportunities, begin by following various projects and paying attention to media hype. Getting in early is important, and you can buy new coins, become a part-owner of an enterprise, or purchase a new item based on an existing platform. The most important thing is to be able to read the buzz and take advantage of it. Don’t spend precious ETH and thousands of dollars if you haven’t done proper research. Something new in the NFT space is fractional ownership, where you can invest and own part of a blue chip project.</p><p>Cryptocurrencies and NFTs are very volatile, and this is why people are reluctant to invest in them. There are scammers and pump-and-dump schemes out there that will deprive you of your money. It’s hard to predict which projects will be a success, but the fast-paced nature of the market will make people vulnerable. In addition, no one can be sure which project will be the next big thing.</p><p>Because NFTs are backed by blockchain technology, they are a valuable asset in a crypto economy. While they have been around for a while, the technology has recently been adapted for the iMessage App. For example, Twitter CEO Jack Dorsey sold the first tweet as an NFT for $2.9 million in the third quarter of 2021. That’s an astronomical amount to earn a digital sticker!</p><p>The demand for NFTs is fueled by the price of the artworks. Since they are worth what someone wants to pay for them, they have high potential to be a huge success for artists. The demand for these tokens is driving the growth of the NFT industry. Some platforms have a fee structure, while others don’t. It all depends on the quality of the art, which is an essential part of the business.</p><p>Non-fungible tokens (NFTs) can represent virtually anything. In the last year, Beeple was the most popular NFT, with more than $16 million in sales volume. Today, many celebrities are using the technology to launch their own brands. There are also plenty of other NFTs that are available on the market. A few have already been released by other people.</p><p>Some NFTs will likely increase in popularity. Some NFTs are more volatile than others, and the price of one NFT may rise despite its low volatility. So, it’s important to understand the risks associated with a given cryptocurrency before you decide to buy any.</p><p>As an example, Axie Infinity was a popular NFT in Southeast Asia. Its high prices were due to the company tracing its digital provenance, and creating an artificial scarcity, which pushed up its prices. Its popularity has since been mirrored by many other industries, including art, fashion, and music. There are many other reasons to believe that NFTs will continue to rise to new heights of popularity in the coming years.</p>]]></content:encoded>
            <author>annoyedotter4@newsletter.paragraph.com (annoyedOtter4)</author>
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            <title><![CDATA[Treasury un-wind — WagmiDAO ClosureIntroduction to Soku Swap | Launch of ICO]]></title>
            <link>https://paragraph.com/@annoyedotter4/treasury-un-wind-wagmidao-closureintroduction-to-soku-swap-launch-of-ico</link>
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            <pubDate>Mon, 09 May 2022 11:22:56 GMT</pubDate>
            <description><![CDATA[Dear WagmiDAO Community,Catering to both the Ethereum and Binance communities, Soku Swap is a decentralized exchange that accommodates the needs of the ever-evolving cryptocurrency community. To effectively manage the liquidity pools, Soku Swap leverages Automated Market Maker or AMM. The AMM is a collection of well-defined and complex smart contracts that maintain the equilibrium of the digital money market and provides an efficient trading ecosystem. Soku Swap creates such liquidity pools f...]]></description>
            <content:encoded><![CDATA[<p>Dear WagmiDAO Community,Catering to both the Ethereum and Binance communities, Soku Swap is a decentralized exchange that accommodates the needs of the ever-evolving cryptocurrency community.</p><p>To effectively manage the liquidity pools, Soku Swap leverages Automated Market Maker or AMM. The AMM is a collection of well-defined and complex smart contracts that maintain the equilibrium of the digital money market and provides an efficient trading ecosystem.</p><p>Soku Swap creates such liquidity pools for both ERC20 and BEP20 tokens. Therefore, considering the underlying technological concept behind the two, Soku Swap offers a unique choice to the end-users of completing a trade either algorithmically or using the order book mechanism.</p><p>These liquidity pools allow users to become liquidity providers and earn significant yields. Apart from this, the platform also offers the possibility of arbitrage using flash loans in a seamless way.</p><p>What makes Soku Swap the choice of the crypto community is the fact that it addresses the most important pain point which is the high gas fee in the ecosystem. Gas efficiency is one of the core components of Soku Swap achieved through the use of optimized AMM smart contracts. This allows Soku Swap to provide a 10% lower gas fee as compared to other exchanges. This gas efficiency is shared by all the platform-supported cryptocurrencies that can be swapped.The addition of the Binance Smart Chain for making swaps makes it even more gas-friendly. Even in the current market flooded with NFT trades, Soku Swap allows users to enjoy low gas fees for their transactions.</p><p>The liquidity of the user in the Soku Swap pools is managed through SOKU LP, the liquidity tokens issued by the platform. In essence, these tokens represent the liquidity of the user in the Soku pools. If the user stakes on Ethereum, they will receive ERC20 type SOKU LP tokens and for the users providing liquidity on Binance Smart Chain, the token is of BEP20 type.</p><p>The purpose of having Liquidity Tokens is to provide further liquidity to the users as they can use these tokens to perform various financial activities without actually taking their liquidity out of the liquidity pools. This helps in two ways:</p><p>a. It allows users to gain interest on their staked amount while still being able to use the liquidity through the tokens issued</p><p>b. It will maintain the liquidity of the protocol.</p><p>The platform creates a truly decentralized environment through the availability of SOKU, the governance token that allows the Soku Swap platform to be truly decentralized. Anyone holding SOKU will be allowed to vote in critical decisions of the protocol such as upgrades or the future of exchange.</p><p>Furthermore, for the loyal or constant users who stake SOKU LP and complete a few trades on the exchange each week, a small portion of the trading volume will be allocated to them. This acts as an incentivization model of the platform. With the growth of the exchange, the loyal users of the platform will also enjoy growth in their profits with the added trust of a truly decentralized environment.</p><p>To participate in the upcoming ICO from May 3rd to May 7th and learn more about Soku Swap’s plans, team, goals, visit the website at <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://sokuswap.finance">https://sokuswap.finance</a></p><p>There is no easy way to put this, but we are ending support for WagmiDAO protocol after a lot of passion, time, effort and money were put into developing our platform, a project that was aiming to become the first reserve-backed decentralized exchange (RDEX) on Harmony ONE Network.</p><p>After a bot snipped launch, that took the steam out of our initial growth and caused some panic amongst $GMI holders, it gradually became obvious that there was not enough demand on Harmony ONE Network to sustain our business and token model. Coupled with precarious overall market conditions, inflation kicked in, with not enough buy pressure to keep it in balance. $GMI’s price started to drop, in terms causing our stablecoin $FAM to temporarily lose peg, which basically scared off the already low number of existing investors.</p><p>Together with our community, in DAO spirit, we came up with several proposals to try and put the project back on the right track. These proposals were subject to Governance voting and implemented accordingly. There were some drastic measures, like reducing emissions by 75% and redirecting a big part of them to $FAM, that in retrospect, did both good and harm, as they did help $FAM to regain peg, but at the same time, made the protocol a whole lot less appealing to new investors, giving out less rewards, hence less motive to invest. In the end, our attempts failed to stop the price of $GMI spiraling down to floor price, where it has remained for a while now.</p><p>The bad price action caused FUD around the project on our social media channels and also made it very difficult for us to come up with any real partnerships, as potential partners didn’t want to associate their brands with ours, for obvious reasons.</p><p>This vicious circle formed and caused a big part of our team to lose faith in the project and straight up leave. At the end of the day, most of us work for money and being really down on our investments caused a lot of stress and disappointment. We had multiple attempts in trying to get the team back working on the project or even coming up with a new team, but things didn’t work out well in that regard.</p><p>We believe that the idea of the project was good, but it launched at a bad time as far as market sentiment goes. This, together with people with a low appetite for risk investments on Harmony ONE Network, prevented the project from picking up.</p><p>With a Treasury that is constantly shrinking, DAOs that are getting a bad reputation everywhere and without a proper team to keep developing, we believe that the project has entered a slow death cycle.</p><p>As a result, we will use the remaining Treasury funds to provide a way for remaining holders to basically redeem their $GMI at floor price.</p><p>The special redeem UI will be made available on our platform on Monday, February the 7th 2022.</p><p>We hereby suggest that $FAM holders redeem their tokens and $GMI holders either sell their tokens into existing liquidity, or use the special UI and redeem USDC from Treasury in exchange for their $GMI tokens. The special redeem UI will be made available on our platform on Monday, February the 7th 2022. At the same date, most of the initial liquidity (LPs) provided by the team for GMI/USDC will be withdrawn and send to the redemption contract.</p><p>LP providers should also remove liquidity. Emissions and so farm/staking rewards will completely stop on Thursday, February the 3rd 2022, at 6PM UTC, in preparation for Treasury wind down.</p><p>Users will have 6 months to redeem $FAM/$GMI. After this time period, the platform (website) will be closed entirely.</p><p>More information and numbers will come soon, keep following our social networks to stay informed or ask any question.</p><p>We sincerely regret this outcome and are extremely grateful for getting to meet such amazing individuals in our Discord community, in our short time together.</p>]]></content:encoded>
            <author>annoyedotter4@newsletter.paragraph.com (annoyedOtter4)</author>
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            <title><![CDATA[Axelar Network — ключ от всех дверей?!]]></title>
            <link>https://paragraph.com/@annoyedotter4/axelar-network</link>
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            <pubDate>Fri, 29 Apr 2022 15:01:01 GMT</pubDate>
            <description><![CDATA[Доброго времени суток уважаемые читатели, сегодня речь пойдет о фундаментальном проекте, в котором, за счет их амбассадорской программы может поучаствовать каждый! Что из себя представляет Axelar?Это кросс-чеин платформа, которая удовлетворяет потребности разработчиков платформ и создателей приложений. Сеть Axelar состоит из децентрализованной сети, которая соединяет экосистемы блокчейнов, говорящие на разных языках, и набора протоколов с программными интерфейсами приложения. Которые облегчаю...]]></description>
            <content:encoded><![CDATA[<p>Доброго времени суток уважаемые читатели, сегодня речь пойдет о фундаментальном проекте, в котором, за счет их амбассадорской программы может поучаствовать каждый!</p><p>Что из себя представляет Axelar?Это кросс-чеин платформа, которая удовлетворяет потребности разработчиков платформ и создателей приложений. Сеть Axelar состоит из децентрализованной сети, которая соединяет экосистемы блокчейнов, говорящие на разных языках, и набора протоколов с программными интерфейсами приложения. Которые облегчают приложениям выполнение межцепочечных запросов. Сеть соединяет существующие автономные блокчейны, такие как Bitcoin, Stellar, Terra, Algorand, и центры функциональной совместимости, такие как решения Cosmos, Avalanche, Ethereum и Polkadot.</p><p>Миссия Axelar заключается в том, чтобы дать разработчикам приложений возможность создавать приложения проще, используя универсальный протокол и API без развертывания своих собственных межцепочечных протоколов или переписывания приложений по мере разработки новых мостов.</p><p>Лично у меня, Axelar ассоциируется с неким ключом от всех дверей(“сетей”), или комнатой между измерениями, создавая приложение в которой вы имеете вход в любое другое измерение, то есть можете интегрироваться в абсолютно любой блокчейн. Подробнее можете прочитать в их Whitepaper.</p><p>На данный момент активновстей только две:</p><p>Quantum Community Program</p><p>Перспективность амбассадорской программы, всегда напрямую коррелирует с перспективностью самого проекта, а чтобы оценить перспективность проекта, думаю из прочитанного выше всем стало насколько крутое решение они предлагают, но кто их поддерживает?Cпонсоры Axelar</p><p>Список очень внушительный, я так сразу и не вспомню проект с фондами лучше этого. Конечно Тир-1 фонды на борту не гарантируют 100% успеха проекту, но являются не маловажной частью этого самого успеха. Едем дальше, Twitter, тут все не так радужно, особенно если сначала посмотреть на список партнеров, а потом на их твиттер, однако он тоже весьма неплох. Первое, что хочется отметить довольно небольшое кол-во подписчиков, всего 27 тысяч, что для такого проекта совсем немного. Однако для нас это скорее плюс чем минус, так как проекту ещё есть куда расти и пока это андеграунд.Несмотря на относительно не большое кол-во читателей, мне бы за проектом следят многие топовые личности, которые имеют вес в криптовалютном мире. Из тех за кем я тоже слежу, хотелось бы отметить CEO tendermint(ядро на котором строятся проекты в экосистеме Космос) Peng Zhong, а также CEO Coinlist Graham Jenkin, что само по себе наталкивает на мысли о том, что Axelar будет на КЛ и возможно нам за участие насыпет плюшек!)</p><p>В общем вы поняли, проект однозначно стоит вашего внимания, дедлайн отправки заданий 17 января, поэтому поторопитесь и урвите такой лакомый кусочек!</p><p>Я в чатах видел много вопросов по поводу токенометрики и скажу сразу, что нам пока неизвестно сколько будет токенов. Известно, что на генезис выделенно 1 000 000 000 токенов. Сколько это от тотал суплая незнаю, информации нигде нету. Команда обещала опубликовать эту инфрмацию позже от Axelar Foundation. Так что подписываемся на их каналы и cледим.</p><p>Социальные сети проекта:Website — <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://axelar.networkTelegram">https://axelar.networkTelegram</a> RU — <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://t.me/axelar_ruTelegram">https://t.me/axelar_ruTelegram</a> ENG — <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://t.me/axelarcommunityTelegram">https://t.me/axelarcommunityTelegram</a> Announcement — <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://t.me/axelarnetworkDiscord">https://t.me/axelarnetworkDiscord</a> — <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://discord.gg/aRZ3Ra6f7DTwitter">https://discord.gg/aRZ3Ra6f7DTwitter</a> — <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://twitter.com/axelarcoreWhitepaper">https://twitter.com/axelarcoreWhitepaper</a> — <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://axelar.network/wp-content/uploads/2021/07/axelar_whitepaper.pdf">https://axelar.network/wp-content/uploads/2021/07/axelar_whitepaper.pdf</a></p>]]></content:encoded>
            <author>annoyedotter4@newsletter.paragraph.com (annoyedOtter4)</author>
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            <title><![CDATA[Introducing The Greenhouse Farm]]></title>
            <link>https://paragraph.com/@annoyedotter4/introducing-the-greenhouse-farm</link>
            <guid>A9R50Nm3hgcPr9mmsXOD</guid>
            <pubDate>Fri, 22 Apr 2022 08:17:25 GMT</pubDate>
            <description><![CDATA[The Greenhouse is the first automatic liquidity acquisition yield farm on Fantom Opera. It might look to you like just another yield farm… but it’s not quite that. Unique burn features from other platforms were mixed and merged to provide the ultimate farming experience. DeFi is the future and in order to maintain its value, diversification and combat against monopoly is crucial. That’s why we believe that supporting alternative blockchains, attracting new users and spreading the weight evenl...]]></description>
            <content:encoded><![CDATA[<p>The Greenhouse is the first automatic liquidity acquisition yield farm on Fantom Opera.</p><p>It might look to you like just another yield farm… but it’s not quite that. Unique burn features from other platforms were mixed and merged to provide the ultimate farming experience.</p><p>DeFi is the future and in order to maintain its value, diversification and combat against monopoly is crucial. That’s why we believe that supporting alternative blockchains, attracting new users and spreading the weight evenly across all DeFi will help maintain its value and will ensure that DeFi fulfills and hopefully exceeds the potential it holds today.</p><p>Greenhouse Farm</p><p>The idea is to combine the best features already launched in yield farming and bring it to the Fantom Opera blockchain.</p><p>We peeked under the hood of the most successful farms and extracted the most important bits and pieces which will allow us to create a healthy and stable ecosystem.</p><p>Our smart contracts are based on Pantherswap with few minor adjustments. One of the migrated features is an Anti Whale mechanism, which means that any transfer of more than 0.5% of the total supply will be rejected. As the total supply grows, this ratio might be reduced.</p><p>In order to create safe and rugpull-free experience for everyone, no migrator code was included in any of the smart contracts.</p><p>Token deposits or withdrawals to the pools are not subject to this restriction.</p><p>You will be able to view the max transfer amount on our website, as shown on the example below:</p><p>We’re planning to launch the farm in the next couple of days (for precise updates and initial LP-pools list, which will be announced soon, follow us on Telegram and Twitter).</p><p>Tokenomics</p><p>Emission Rate</p><p>During the first 36 hours 7 tokens per block will be minted. After that, we will lower emission by 1 token every 36 hours until we reach a level of 1 token per block.</p><p>Taxes and Fees</p><p>Swap and Liquify</p><p>One of the key features we maintained in our smart contract are listed above few burn mechanisms, the most important one being the 5 % transfer fee, of which 80% will be dedicated to provide further liquidity. This will stabilize the token and push its price up as the emission continues.</p><p>Future plans</p><p>Honesty and realism are unfortunately often missing in such projects and they’re being taken over by naive optimism and empty promises. It usually ends up with disappointment, so let’s not do that, and let’s be upfront about it.</p><p>Eventually we’d love to implement features like lotteries but it all depends on what kind of community sentiment this project is going to receive.</p><p>For more near future plans we’re certain to extend the list of available farms as soon as possible. When deciding which farms those should be, we will surely take into account opinions and suggestions of our Twitter followers and Telegram members.</p><p>We also invite and encourage other projects to get in touch with us for potential partnerships.</p><p>That’s it for now guys. Make sure to follow us on Twitter and join our Telegram to not miss out on anything.</p><p>Links:</p><p>Telegram: <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://t.me/thegreenhousefinance">https://t.me/thegreenhousefinance</a></p><p>Website: <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://thegreenhouse.finance/">https://thegreenhouse.finance/</a></p><p>Twitter: <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://twitter.com/ThegreenhouseF">https://twitter.com/ThegreenhouseF</a></p>]]></content:encoded>
            <author>annoyedotter4@newsletter.paragraph.com (annoyedOtter4)</author>
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            <title><![CDATA[UniqArt ☓ NEAR Protocol]]></title>
            <link>https://paragraph.com/@annoyedotter4/uniqart-near-protocol</link>
            <guid>SgJvASJ0R2xqNkzZoZS6</guid>
            <pubDate>Mon, 18 Apr 2022 02:07:02 GMT</pubDate>
            <description><![CDATA[NEAR Protocol is a platform for decentralized applications (dApps), with a focus on developer and user-friendliness. What are dApps? —In contrast to centralized applications, decentralized applications run over a blockchain network of computers instead of relying on a single computer. DApps have been growing in popularity, which has created a scalability problem for the crypto community. As used here, scalability means the blockchain’s ability to process a large number of transactions quickly...]]></description>
            <content:encoded><![CDATA[<p>NEAR Protocol is a platform for decentralized applications (dApps), with a focus on developer and user-friendliness.</p><p>What are dApps? —In contrast to centralized applications, decentralized applications run over a blockchain network of computers instead of relying on a single computer.</p><p>DApps have been growing in popularity, which has created a scalability problem for the crypto community. As used here, scalability means the blockchain’s ability to process a large number of transactions quickly and at an affordable transaction fee.</p><p>This is where the NEAR Protocol comes into the picture.</p><p>The NEAR Protocol is a developer-friendly proof-of-stake (POS) blockchain that incorporates a variety of innovative features to boost its scalability and cut costs for developers and end users.</p><p>NEAR is designed as a next-generation blockchain platform for dApps. To achieve this, it tackles a lot of issues in the blockchain space such as low throughput, low transaction speeds, unreadable wallet addresses and poor cross-compatibility.</p><p>It has it’s own native utility token with the same name — NEAR. Besides being used for for incentivizing nodes on the NEAR network, the token powers transactions and NEAR Smart Contracts as well.</p><p>NEAR has many advantages that make it ideal for providing such a great experience:</p><p>To get involved with dApps on the NEAR protocol, one has to get NEAR tokens.</p><p>The easiest way to get NEAR tokens is by buying it with MoonPay on wallet.near.org, or on cryptocurrency exchange platforms such as Binance, WazirX, Huobi and Gemini.</p><p>Follow us on:</p><p>Twitter — @uniqartnft</p><p>Instagram — instagram.com/uniqart.io</p><p>Medium — @UniqArt</p><p>Click here to become a Verified Creator!</p>]]></content:encoded>
            <author>annoyedotter4@newsletter.paragraph.com (annoyedOtter4)</author>
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            <title><![CDATA[Confessions of a crypto skeptic (who is now starting a web3 payments company)]]></title>
            <link>https://paragraph.com/@annoyedotter4/confessions-of-a-crypto-skeptic-who-is-now-starting-a-web3-payments-company</link>
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            <pubDate>Fri, 08 Apr 2022 10:42:16 GMT</pubDate>
            <description><![CDATA[If you read the preface to this story, you’ll recall that I admitted missing the boat on Bluetooth in its early days. Like everyone, I use Bluetooth in many ways every day. As I type this story, I’m using a wireless keyboard and mouse and listening to this dope playlist on Spotify on a vintage 2010 Jambox speaker. Now I know this is dangerous, but I also have an Xbox in my office on which I play exactly one game(my kids use all the other screens in the house) and it’s wireless controller is a...]]></description>
            <content:encoded><![CDATA[<p>If you read the preface to this story, you’ll recall that I admitted missing the boat on Bluetooth in its early days. Like everyone, I use Bluetooth in many ways every day. As I type this story, I’m using a wireless keyboard and mouse and listening to this dope playlist on Spotify on a vintage 2010 Jambox speaker.</p><p>Now I know this is dangerous, but I also have an Xbox in my office on which I play exactly one game(my kids use all the other screens in the house) and it’s wireless controller is also Bluetooth compatible. I was also charging my Smart Nora device that listens for signs of snoring and inflates a pillow to stop that cycle (TMI?). I’m sure the people who invented Bluetooth did not envision all of these use cases back in 1998.</p><p>So what does this have to do with crypto? In this exciting installment we should go back to 2011 when I was working at J.P. Morgan. Now before you write me off as some soulless banker who obviously can’t be trusted and should not be listened to, hear me out. I was never a banker. In fact of the almost 300,000 people who work at JPM, a tiny fraction do anything that you would think of as “banking”. I was a Product Manager and built payments products for J.P. Morgan’s corporate and government clients.</p><p>The use cases I worked on were super niche and I suspect most people have no clue banks are even involved in them. The people who work there are payment nerds like you and me and love working on weird problems.</p><p>(Stick with me for a moment. I promise this is headed back to crypto.)</p><p>One of the clients I was working with was a large shipping company that drives brown trucks. They had two main divisions that they called Small Package and Freight. You have surely used the Small Package service, but unless you’re a wholesale shipper, you probably haven’t used Freight. Their Freight team had been gobbling up a bunch of other companies but hadn’t integrated any of them so all of their ledgers were still separate. They had 60 people working full time to figure out where to apply payments as they came in.</p><p>An enterprising Treasury guy at Brown Truck, Inc. came up with an idea. What if they sent all of their open invoices to JPM and when we received a payment, we could match the invoice and then send them a series of files they could apply to each ledger? We didn’t have anything like that in our platform, but it was a really cool idea (keep in mind this was 2011) so we built it. The solution worked like a champ. As payments came in, our system would find matches to open invoices and clear them out. We had all kinds of rules to figure things out systematically. Brown Truck, Inc. was able to redeploy 40+ of their staff to go do more valuable things and JPM secured a long term contract built on a service that solved a real problem.</p><p>Around the same time, Bitcoin was making the rounds. In the circles I was running in, the notion was that this was basically a currency used by bad actors to do bad stuff and should not be trusted. However, there was also this other aspect to Bitcoin called “The Blockchain”. There was another product guy at JPM who was known for being an iconoclast and walking around the office in the Financial District in his socks. He just didn’t give many f***s and I thought he was super entertaining.</p><p>It’s now a cliche for people from traditional finance to poo poo bitcoin, but think very highly of “The Blockchain”. Back then this was not the shared wisdom. Hardly anyone in this sector even knew what “The Blockchain” was. But No Shoes did.</p><p>Later that year, I met with IBM to hear about their use of Hyperledger Fabric, their offering for blockchain-based solutions. They were very excited to share that this new platform could solve all kinds of problems. Problems like tracking tainted strawberries or other logistics issues. In most of these situations, I would ask them how a distributed ledger like theirs was superior to a purpose built database and web app.</p><p>I could see that the technology could help, but it wasn’t at all clear that it was better than the prevailing capabilities of the day. It was the quintessential “solution in search of a problem”, and I even said that to the lead product manager. He was crestfallen. I felt bad, but I still hadn’t seen how a distributed service that required a whole supply chain to retool the way they interact with each other was worth the effort.</p><p>Later on I left JPM and joined a San Francisco-based startup called Sipree. We were building a payments platform to send money to all kinds of new digital addresses. The idea was that businesses who wanted to pay consumers had very few options, most of them clunky and slow, to send people money. We figured out ways to enable those businesses to send money via PayPal, Cash App, Amazon Balance and Debit Cards. It was a great idea and is still evolving.</p><p>As part of a lunch and learn, we walked down the street to meet with the team at Ripple. There we learned about the Interledger Protocol and how Ripple was working to establish a set of standards for participants in different blockchains to talk to each other. It again felt like a solution to a problem that had itself been created by a solution in search of a problem. The ultimate ouroboros.</p><p>As I listened to Ripple’s head of cryptography wax poetic about blockchain interoperability, maybe understanding 15% of it, I felt like one of two things was happening: I am either not as smart as I had believed myself to be (this CAN’T be the answer!) OR there was a fundamental disconnect between the capabilities they were describing and the problems they were focused on.</p><p>For the record, I think the answer to the false dichotomy above is that both were happening: I was too wedded to my sense of how things should be and wasn’t willing to really hear what was happening. That was not smart and not the first time I made that mistake. I even said stuff around this time like, “I missed the boat on Bluetooth and I might be wrong about Bitcoin, but I just don’t see how this solve problems that can’t be better solved with other existing technologies.” Likewise, partly due to limitations of early blockchains and the experimental nature of innovation, the fit to the market problem was imperfect at best.</p><p>Setting aside other editorial comments regarding XRP for a moment, at this time Ripple’s primary clients were banks. Not only that, they were banks who were moving value between their own legal entities. Surely Mr No Socks didn’t have this narrow use case in mind when he touted the benefits of “The Blockchain”.</p><p>This was to form the basis of the next form of money? This technology was going to change the way value moves around the world?</p><p>Meanwhile the Ripple folks were seeing their self-issued cryptocurrency grow dramatically in value all the while having very little commercial utility. It felt like a scam.</p><p>And yet, 6 years later, I am starting a new payments company focused on moving money on and off chain. I see a huge transformative opportunity that only comes around once per generation. Subscribe to hear how my inner skeptic became convinced that web3 is for real and what I think is possible in the years to come.</p>]]></content:encoded>
            <author>annoyedotter4@newsletter.paragraph.com (annoyedOtter4)</author>
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