Simpleton says, “We go a bit geeky on this one, but in a way that should be very accessible to most anyone.”
Our guests on this episode are Josh Wilson and Gabriel Viganotti. Both are front-end developers for MaidSafe, working with Resource Description Framework (RDF) in a number of forms, to enhance the uses of the SAFE Network.
We really get down to what RDF is, how it relates to Linked Data and the Socially Linked Data (SOLID) project, and other use cases that are creating a real revolution in how we manage data, making it more useful as well as returning control of users’ data to users.
Your host learned a lot. Hope you find it useful.
Music
Music for this episode: Safe Crossroads Beta, an original piece composed and performed by Nicholas Koteskey of Two Faced Heroes
Links
For those who live in the northern hemisphere, winter is coming, while in the cryptosphere it’s already here. In Wednesday’s edition of The Daily, we look at the steps ICOs are taking to preserve their capital as they wait for the markets to warm up again, heralding that winter is over.
Also read:
ICOs Offload ETH and Downsize to Survive
Having belatedly realized that the crypto market may have further to drop, and that staying all in ETH could be fatal, tokenized projects have begun cashing out and cutting costs. Some, such as Aragon, have in their treasury management, maximizing capital through smart cryptocurrency acquisition and liquidation. This week, the project sold $1.5 million of cryptocurrency, including $1 million of ETH, and has sought sanctuary from market volatility by taking out a 1 million loan of , Maker’s ETH-collateralized stablecoin.
Other tokenized projects have not been so fortunate or astute at balancing their budgets however. In addition to Aragon, over 100,000 in ETH has been sold by ICOs in the past week in a belated attempt to stem diminishing funds. A number of projects have also begun to lay off staff, including Steemit, which is shedding 70 percent of its workforce. In a blog post, Steemit CEO Ned Scott attributed the move to “the weakness of the cryptocurrency market, the fiat returns on our automated selling of STEEM diminishing, and the growing costs of running full Steem nodes.” He :
I would like to thank all of our employees and contractors for their months and years of dedication and hard work. It is incredibly difficult to part with these great people who I have gotten to know well and respect.
Stably Announces Meta Stablecoin
Stablecoins, representing the promise to pay the bearer a corresponding asset that promises to pay the bearer an agreed amount, are already very meta. Stably’s forthcoming dollar-pegged coin takes this metaness to a new level though. Its new stablecoin will use a basket of stablecoins as its reserve, including its own stableusd (USDS) as well as potential candidates such as USDC, TUSD, GUSD and DAI.
“Our approach to building this basket will be to design a coin with institutional cryptocurrency traders in mind,” Stably. “The main advantage of this coin will be diversification of counterparty risk. A user can confidently trade this coin knowing that the risk profile of the coin is diversified with several other stablecoin projects.”
Whether investors are swayed by this argument remains to be seen. In the U.K., meanwhile, (LBX) and Alphapoint have launched GBPP, the first stablecoin pegged to the pound sterling (GBP).
bitcoin’s Not Dead and Here’s the Proof
Finally, while cryptocurrency users need no convincing that there’s a lot of life in bitcoin yet, mainstream media aren’t so sure. For years, bitcoiners have directed crypto coroners in the direction of the that records the number of times BTC has been declared dead. Nic Carter has now a handy flowchart to help set the record straight any time the media declare, for the umpteenth time, that bitcoin is dead.
What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below.
Images courtesy of Shutterstock and Twitter
Need to calculate your bitcoin holdings? Check our section.
The post appeared first on .
Practically every industry or professional sphere has its own code of conduct that regulates the behavior of its participants and establishes the principles that should be followed in building interaction within the space. Though the crypto industry is actively growing, it still doesn’t have anything like this. Nevertheless, it is expected that this gap will be filled quite soon.
Association for Digital Asset Markets
As it has been revealed, a group of 10 financial and tech giants have taken a decision to join their forces with a view to create a new organization. The recently launched group is called the Association for Digital Asset Markets (ADAM) and its main aim is to standardize a Code of Conduct for emerging digital asset markets.
The group of ADAM’s founding members includes such prominent names as crypto merchant bank Galaxy Digital, international financial services company BTIG, fintech startup Paxos as well as Genesis Global Trading, Hudson River Trading, Symbiont, BitOoda Technologies, BTIG, Cumberland and XBTO.
Nevertheless, it is planned that in the nearest future the association will welcome new members and will appoint its officers. Currently, the organization invites all players of the crypto market, including operators, investors, custodians, asset managers, liquidity providers, traders, and brokers, to join it.
At the very beginning of its functioning, ADAM will operate its offices in New York and Washington, D.C.
ADAM’s Mission
The Association for Digital Asset Markets views its mission in the development of the industry’s Code of Conduct in full compliance with the currently existing laws and regulation. That’s why the association plans to cooperate with regulators in order to ensure that its newly created rules will be effective for the market.
It is strongly believed that new guidelines that are to be presented will help to increase the level of transparency within the industry, support ethical and high-professional conduct of all the industry’s players, and prevent manipulations on the market.
ADAM Advisory Board Member, Duncan Niederauer, who earlier worked for the New York Stock Exchange as its Chief Executive, their new initiative the following way:
“Rules are fundamental to the development of any market. Over 200 years ago, market leaders came together to draft rules that led to the creation of the New York Stock Exchange. The advent of digital assets requires a similar effort; one that will clarify existing rules and give both investors and regulators the confidence necessary to sustain this market. I applaud the firms leading the ADAM initiative and look forward to advising them on standards that will enable this market to thrive.”
It is expected that ADAM’s members will elaborate comprehensive guidelines for all the aspects and issues of the crypto industry, including but not limited to market integrity, risk management, KYC and AML, data protection, record keeping, clearing and settlement.
