ConsenSys INTEL Report — August 2019
ConsenSys’ Market Intel report provides the most recent insights and analysis on crypto market news and blockchain developments
“It’s the repetition of affirmations that leads to belief. And once that belief becomes a deep conviction, things begin to happen.”
– Muhammad Ali
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OB1 Launches Haven
Another one, major key…With Facebook’s recent cryptocurrency play, Libra, it seems as though the floodgates (or tbh maybe it is just one floodgate) are now open. The OB1 team, which launched its p2p trading in July of 2018 with Openbazaar, agrees that it is now time for social media platforms to enable users to transfer funds (and data) using digital currency. And by making it reality, they’ve agreed in a big way.
Everyone but ETHan…Haven users can currently use Bitcoin, Bicoin Cash, Litecoin, and Zcash. As a special launch celebration, users are also able to save 50% on various products, including GoPro Hero 7s and game console Nintendo Switch, as well as on gift cards and anything else bought through the Haven store.
THE TAKEAWAY
Should I flood the gate and get my GoPro Hero 7s?…This is the most recent and (most tempting because of the 50% off sale tbqh) social media + cryptocurrency play to have come into the market. Coming out after 2.5 years at “the shop,” the Haven team is already talking about plans to release an Ethereum integration, as well as one with the Tor browser. We’re going to test it out, for sure.
Dude, Did You See that Play…Uhh Duh, Bruh, I Own It
“NBA Basketball Comes to Blockchain”…And with that looming tagline, we’ve got the gist. NBA and Dapper Labs are teaming up to launch NBA Top Shot so that fans can soon buy, sell, and trade digitally-collectible basketball moves. Huh, what does that even mean?! Well, according to the announcement, these digital-collectibles can then be used for on-chain games or tournaments.
This is gonna be (H)uge…like real big. Dapper Labs is also working with the National Basketball Players Association (NBPA) to help ensure that players benefit from the experience.
THE TAKEAWAY
I’m going to buy Steph Curry’s 3-point shot…But specifically, the one following his two-bait dribble with his right hand, between the legs crossover, behind the back, fake-out pass…Basically, this has us more excited than when Curry teamed up with CryptoKitties and “Chef Furry” was born.
F’ IT — Funding of the Week
Another One? Oops, did I already use that line? Excuse my (cheesy) refrains…Solana, a blockchain project that touts 50,000 transactions per second (TPS) processing functionality (and is yet another “new blockchain”) has just secured $20 million in their Series A led by Multicoin Capital. Other notable round participants include BlockTower Capital and Passport Capital.
Further Down the Rabbit Hole
- Explain it Like I’m Five: (Fin)teching about Blockchain. What is blockchain fintech?
- Money Talks: Talking to My Daughter About the Economy: A Brief History of Capitalism
- I’m feeling lucky: a16z + Libra
As promised in our Intel newsletter last Thursday, we’ve added another little piece of intel below:
Microsoft Engineers hope to Democratize AI and Machine Learning with Ethereum
It’s a centralized me(ea)ets centralized world…It is no secret AI and machine learning are typically centralized technologies. Most of the development of these fields is undertaken by big tech conglomerates.
Augur you happy you bet on that play…Engineers at Microsoft described a model that suggests a reward system and incentives for people who interact with, and therefore, help improve machine learning algorithms. Justin Harris, a senior software engineer for the company suggested crowdsourcing use cases such as prediction markets, like Augur, and gamification for ways to test out the incentive model.
THE TAKEAWAY
Woo, I finally got a raise!…If set into motion, an effort like this by a company like Microsoft could have huge consequences in setting the precedence for compensating individuals when taking data, and simultaneously, furthering AI and machine learning efforts.
Disclaimer: The views expressed by the author above do not necessarily represent the views of Consensys AG. ConsenSys is a decentralized community with ConsenSys Media being a platform for members to freely express their diverse ideas and perspectives. To learn more about ConsenSys and Ethereum, please visit our website.
Originally sent as a newsletter on August 1, 2019.
