Welcome to the second weekly briefing presenting developments in blockchain and fintech industry from the Billon's point of view. This week we continue to focus on the NFT craze, and bitcoin's climate problem, but also will check how a utopian vision gets a blockchain twist - in Nevada. Let's go!
We have another smashing NFT sale as a token of a digital artist Beeple sold for $69 million at Christie’s. The sale positions him “among the top three most valuable living artists,” according to the auction house. Among other public figures contemplating NFT sales is Jack Dorsey, the co-founder and CEO of Twitter who attempts to monetize his very first tweet - words "just setting up my twtrr" are now worth $2.5M. What does “buying” this tweet (and other NFC for that matter) actually mean? “What you are purchasing is a digital certificate of the tweet, unique because it has been signed and verified by the creator,” according to the Valuables platform FAQ. In other words, an autograph. You’re buying an autograph.
Beeple’s collage, Everydays: The First 5000 Days, sold at Christie’s.
Bitcoin reached a new ATH but its climate problem is more and more pervasive. “Bitcoin uses more electricity per transaction than any other method known to mankind, and so it’s not a great climate thing", Bill Gates says. As companies and investors increasingly say they are focused on climate and sustainability, the cryptocurrency’s huge carbon footprint could become a red flag, "New York Times" notices.
Meanwhile in Nevada, a utopian vision gets a blockchain twist. A cryptocurrency tycoon Jeffrey Berns from Blockchains LLC is pushing a state bill that would let private sector “innovation zones” test new technologies in mixed-use communities. A blockchain-run private corporate city in the middle of the desert - what could go wrong? "Bloomberg CityLab" reports that actually many things can.
Blockchains' vision for a smart city in a nutshell
From Nevada we now move to Cambodia, which introduce the new “bakong” central bank digital currency and payments system. In the "Money Reimagined" podcast episode Serey Chea, director general at National Bank of Cambodia, and Makoto Takemiya, co-CEO of Tokyo-based blockchain technology provider Soramitsu, explain how small economies can use CBDCs to leapfrog their otherwise underdeveloped financial systems into something far more advanced.
And that's all for now. See you next week!
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