this post was submitted on 15 Jul 2023
1127 points (97.2% liked)
Technology
59581 readers
2902 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
It's the obvious answer, but I wonder if it would implode in their face in some interesting ways.
Reddit has been the epicenter of a lot of crypto communities over the years. They've been there for plenty of projects to rise and fall, and most importantly, the wholesale evolution of the market. The remaining crypto market is not a place where you can hope to launch a new, lasting project on hope, enthusiasm, or promises of future utility. For anything outside a few very narrow cases (actual CBDC or related projects), the announcement of a new project is little more than starting the count-down to the inevitable rug-pull, technical collapse, or financial meltdown. All this is documented in huge detail across their communities.
Launching a new crypto-based product in 2023+ would be like Airbus saying "we're going all in on propeller triplanes." It's sketchy, and they have full knowledge that it's sketchy. I sort of wonder what promises and stories they've tossed towards their existing investors, who I imagine are frantically Googling the phrase "breach of fiduciary duty" already.
I suspect we'll see products that end up getting branded CBDC (e-yuan, e-rupee, e-dollar), but it may look nothing like blockchain hype projects.
There are plenty of real world problems that a natively digital transaction system can mitigate. The obvious use case is "I'm in Los Angeles, how can I pay someone in Edinburgh three pounds without spending days for settlement, worrying about inter-bank communication, or dealing with private firms that have turned it into a rent-seeking space that adds huge fees". Note this can be done without some elaborate blockchain system. In fact, a centralized service operated by the state has the right incentive alignment: they are more beholden to the social and political goal of "efficient commerce helps economic growth" rather than the private-enterprise mindset of "if I can get people to consume the tokens I already own, I can be a kazillionaire."
Honestly probably an nft. Pay extra for your own unique award to give out! 🤮
Reddit already has NFT avatars. Adding them for awards would make sense with that recent story about letting users make money from their awards. Bleh.
i want a 3 cent (eur) nft
I raise you this inanimate carbon rod.