While jokes are flying all around and fools prank about, ethereum’s price is not at all having a laugh, unless of course it is fooling us all. Following a brief…
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At the time of writing, the total market cap for all cryptocurrencies is down $42 billion since the same time two weeks ago, according to . In the same period, Big Tech has (paywall) in stock-market value in light of Facebook’s and Trump’s growing . The Wall Street Journal argues that this drop indicates a for the recent global rally in stocks.
In other words, the cryptocurrency market isn’t the only technology market facing pain and bearish trends. Moreover, if stocks face a broader downtown, investors will need to look for other places to put their money. Who knows what the future will bring. For now, a bearish market is an opportunity stand clear of the distractions of hype and hysteria and focus on the big, serious projects that, in the long term, will change the world.
Be sure to join our , and follow us on on , and to ensure you keep up with the biggest trends in the cryptocurrency space.
Three ICOs To Watch
1. NKN aim to combine blockchain and , a concept taken from computer science, to transform the infrastructure of the internet. They want to create a decentralised internet that is ‘self-evolving and self-incentivised’, and do for network connectivity what Sia and Storj are doing for storage and bitcoin and Ethereum are doing for computation. It is led by a team of technologists with experience from Nokia, Ericsson, Microsoft and Google, and advised by Whitfield Diffie, a pioneer of public-key cryptography.
2. NuCypher provides users with a means of encrypting and securing data on the blockchain while retaining the ability to delegate access to this data to others. Integrating with big data platforms Hadoop and Kafka, it can also enable safe storage and inter-organization sharing of proprietary data. It is founded by a former Morgan Stanley investment banker and a physicist from the Moscow Institute of Physics and Technology, and is already working with blockchain companies , and .
3. Cardstack’s goal is to break down the silos between apps by offering a seamless interface in which users can mix and match features from different apps and dApps. It offers an SDK for developers and its CARD token is designed to incentivise the developer community. Through ease-of-use and integration of a diverse range of dApps, the platform could tackle some of the usability and adoption issues facing cryptocurrencies. Notably, given the focus on usability, the team features not just entrepreneurs and technologists but also leaders with editorial and design experience from media companies such as Gizmodo, Bustle and BusinessWeek.
One Big Thing
What: Ever since the revelation, two weeks ago, that about Cambrige Analytica harvesting personal data without permission, the public outcry against the company has continued to grow: A campaign emerged encouraging users to . A from a top Facebook executive showed him arguing in favour of a grow-at-all-costs approach to business. And a , documenting the internal reaction to the first leak, revealed an almost cultish culture at the company that disparages the notion that users should understand what happens within it.
Why It Matters: Blockchain adoption is still confined to a relatively small group of users, ranging from enterprise users on the one hand and passionate enthusiast and investors on the other. Widespread adoption, however, is not just a simple case of better technology and increased usability. The idea of using different tokens for different purposes requires a dramatic shift in behaviour and culture. In the same way that the financial crisis of 2008 stimulated an initial wave of interest in bitcoin, it is upon crises in data protection and ownership that the blockchain community can grab the attention of key demographics.
As Jon Evans argues, in a more in TechCrunch, this does not mean building a new Facebook. Our view is that blockchain evangelists need to drive serious awareness around how little control we have over our data, how little value we accrue from it and how effectively it is being monetised by others at the expense of our privacy. Meanwhile, those who are outraged by the behaviour for Big Tech can go beyond just deleting Facebook and start looking at initiatives such as and , who are offering alternative paths towards a healthier, user-centric data economy.
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Disclaimer: Torque Capital Partners and its affiliates do not provide investment, legal or accounting advice. This material and opinion above has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, investment, legal or accounting advice.
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