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With Election Day in the U.S. just a couple days away, anxious excitement brings up concerns over voter transparency, polling access and fraud allegations from previous cycles.
Could voting on the blockchain be the answer?
Blockchain enthusiasts have cited open-source technology as a viable tool for increasing transparency in polling by providing an on-chain “ledger” of votes. Political organizations and campaigns have also explored using blockchain technology to systematize campaign organization and generate alternative funding streams in the form of NFTs and cryptocurrency donations.
These are natural extensions of a technological use case – bringing a verifiable on-chain ledger, voting mechanisms, and governance-based participation to an arguably arduous electoral system. But, like many things in Web3, we must contextualize the potential challenges of bringing blockchain to the polls, before envisaging its widespread implementation.
Read More On BFF Discover
NFTs on the ‘gram: A select group of creators will soon be able to sell NFTs directly on Instagram via Polygon. The sales will take place via in-app purchases across iOS and Android and, for now, Meta is not taking a cut of the creators’ revenues.
OpenSea breaks silence: After staying out of the NFT royalty debate for months, OpenSea has created a new “on-chain” tool to help creators enforce fees. The tool will only apply to new collections listed on the platform with a decision on existing collections happening at a later date.
Another hike: In its fourth consecutive increase, The Federal Reserve has raised interest rates by 0.75 percentage points as a means to try and curb ever-rising inflation rates. While tighter monetary policy can make crypto less attractive to investors, the price of bitcoin rose slightly off the news.
A first at JPMorgan: While few Wall Street execs have been more bearish on crypto than CEO Jaime Dimon, the banking giant took a small step into the digital currency waters last week with its first live trade on the Polygon blockchain.
Vitalik says slow down: Speaking of Wall Street, Ethereum’s Co-Founder Vitalik Buterin shared last week that he thinks crypto is still not ready to be integrated fully into traditional financial structures. “Regulation that leaves the crypto space free to act internally but makes it harder for crypto projects to reach the mainstream is much less bad than regulation that intrudes on how crypto works internally,” he said.
Meta Angels x HUG: Randi Zuckerberg and Debbie Soon have acquired Web3 membership community Meta Angels under the same holding company that owns HUG, a community that helps creators discover new NFT projects.
Bitcoin mining plunges: Bitcoin miners — individuals and companies that solve complicated math problems to create new bitcoins and verify transactions — are in trouble. Argo Blockchain said recently that they lost out on a $27 million fundraise deal due to the stagnating value of crypto.
Fyre Fest…but crypto: The infamous island location that was supposed to play home to the disastrous Fyre Festival is now allegedly being turned into an NFT-gated resort for crypto whales.
Just a phone number? Crypto exchange FTX will now allow users to send digital currency from their phone with just an email or a phone number. Recipients will still have to create a crypto wallet via FTX to access the funds.
Disrupting traditional art. Fairchain is a blockchain-based platform that facilitates an equitable infrastructure for a better fine art market. Co-Founder Charlie Jarvis shares with BFF Contributor Sabrina Bonini how she forged a career path intersecting art and computer science, two fields where she rarely saw people who looked like her leading.
Women Rise NFT Founder Maliha Abidi shares with Coindesk how more artists and creators can create NFTs that support social causes. “My focus is always on using art as a tool for storytelling – especially BIPOC stories – about women's rights and girls' education. That's what I will continue to do no matter what space I enter,” she said.
Journey’s Chief Metaverse Officer Cathy Hackl joined The Webby Podcast to discuss all things Metaverse and Web3, including new innovations across NFTs, gaming and, most recently, virtual fashion.
Our BFF Creatives Club got witchy this week for Halloween! Take a look at some of our favorites from our contest below.
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This newsletter and all the information in it does not constitute financial advice. If you don’t want to invest money or time in Web3, you don’t have to. As always: Do your own research.
