Humanity is facing more problems than climate change. The world is confronted with some of the greatest challenges of our time: world hunger, growing inequality and economic instability. Many believe that the root cause of the entire range of problems faced by humanity is the expansion of the political power of elites as income and wealth distribution becomes more polarized. Since our beginning, we have used technology to account for value created or exchanged. Humans created the concept of money as a way to reward contributions to society; however, money as we now know it is corrupt. Currently, we are …

A recent price rally in the market of Polygon's native MATIC token pushed its prices above $1.56 for the first time in more than two months. The MATIC/USDT exchange rate rose 20.65% in just two days to reclaim its June 17 high. Traders raised their bids for the pair after Polygon announced that it would create a decentralized autonomous organization (DAO) for its community members while focusing specifically on the booming decentralized finance (DeFi) space. Polygon, which offers layer-two scaling solutions for Ethereum projects, allocated $100 million for the DAO creation — and also to bring DeFi projects into its …

Ethereum scalability infrastructure developer Polygon said it will form a decentralized autonomous organization, or DAO, for all of its community members, as well as projects in decentralized finance, or DeFi. In a Thursday announcement, Polygon called on its members to express their views on the platform forming a DAO. According to Polygon, it plans to create committees to promote discussion between projects including QuickSwap, Sushi Aave and others to “bring DeFi to the next million users.” “As the Polygon ecosystem grows, the committee members have a front-seat opportunity over others to increase cross-collaboration for their products,” said the project. “Voting …

Disclaimer. This article has been updated to include comments from both Dune Analytics and Flipside Crypto as well as the fact that the governance vote has flipped in favor of those against the grant allocation. Dune Analytics, a decentralized finance (DeFi) analytics service, has voiced its opposition to a Uniswap (UNI) governance vote for “Community-Enabled Analytics” that would see fellow analytics provider Flipside Crypto managing about $25 million worth of UNI tokens. Tweeting on Thursday, Dune highlighted the lack of community attention to the matter while also stating that grants should be given to community members and not to service …

World Wrestling Entertainment (WWE) announced on Monday that it would be dropping nonfungible tokens (NFT) depicting WWE Hall of Famer John Cena. Last week, the beloved wrestling organization dropped its first NFT collection featuring The Undertaker, with the highest-selling NFT going for $100,000 through auction. The latest NFT release will see the first tier consisting of a one-of-one “John Cena Platinum NFT” that will be opened up for a 24-hour auction starting on Friday, Aug. 20, in the lead up to this year’s SummerSlam event. THIS FRIDAY Just in time for #SummerSlam, @WWE drops a unique 1-of-1 @JohnCena Platinum NFT! …

American musician and composer Holly Herndon seems to be capitalizing on the principle of deep-fake technology by allowing fans to use a digital version of herself to create original artwork they can then sell. According to a Thursday announcement from Herndon on Twitter, users who want to make their own deepfakes using the musician’s unique voice and image will have the opportunity to sell their minted creations using nonfungible token, or NFT, marketplace Zora. Herndon said fans can submit their digital copies to be approved by the project’s DAO and would receive 50% of any auction profits. The project said …

The saying, “Everything in moderation, including moderation,” has taken on new meaning since Facebook outsourced responsibility for content moderation to its Oversight Board following the violent events that occurred at the United States Capitol back on Jan. 6, 2021. First conceived in November 2018 as Facebook’s “Supreme Court” for public appeals, the social media giant’s Oversight Board was officially enacted on Oct. 22, 2020. In its time since, the Oversight Board has overturned many of Facebook’s own decisions on what is and is not free speech. Some of the board’s rulings include overturning decisions meant to limit hate speech and …

Representative Ted Budd of North Carolina, a member of the House Financial Services Committee and Congressional Blockchain Caucus, has urged lawmakers to embrace decentralized innovation. On what appears to be the first occasion in which a publicly elected official has met with a decentralized autonomous organization (DAO), Budd acknowledged the increasing concern about crypto among lawmakers while speaking to MakerDAO’s Chris Cameron on Thursday. “There are some on the Senate side and some on the House side which fear, especially when it comes to currency, the blockchain, decentralized finance and how it’s going to evolve,” he said. “The fear is …

A vulnerability of a smart contract in one private DAO fund firstly to the leak of cryptocurrency worth tens of millions of dollars (billions as of today) and then to the hard fork of the second-largest blockchain network Ethereum. You can find tons of articles investigating those events, including a wiki page. Even though the purpose here is conclusions, let us refresh in memory what happened five years ago. The DAO was a startup that ran an investment fund in Ether (ETH) and operated as a smart contract on Ethereum. The DAO is a proper name that founders decided to …

Bitcoin (BTC) is on the verge of closing another week that saw the price dip closer to $30,000 but the same bearish observation cannot be made for all altcoins. On Friday, several smaller-cap altcoins managed to shake off the bearish assault and post-double-digit gains before traditional markets closed for the weekend. Data from Cointelegraph Markets Pro and TradingView shows that the top movers over the past 24 hours were NEM (XEM), Augur (REP) and district0x (DNT). It's worth noting that four of the top seven gainers are layer-one protocols, an interesting development that comes at a time when Ether’s (ETH) …

Specialists and lawyers focused on decentralized finance (DeFi) are launching an initiative to create a new type of legal entity in Australia representing decentralized autonomous organizations (DAOs). The country's Digital Law Association and global law firm Herbert Smith Freehills are lobbying an Australian Senate committee to formally recognize new decentralized models for corporate governance. These new DAO models would replace the board of directors with an internet community, the Australian Financial Review reported Thursday. The initiative specifically intends to allow “DAO Limited” project governors to contract with other legal entities through DeFi tools, implementing blockchain technology to remove traditional intermediaries …

Dogecoin (DOGE) has proven to the world that even a project that started as a joke can gain value and notoriety in the cryptocurrency space. This phenomenon opened the door for multiple “meme” cryptocurrencies to gain a foothold, and a quick look at the trending tokens list on CoinMarketCap shows the meme effect has found a foothold. The latest meme coin to capture investors’ attention is Shiba Inu (SHIB), a project that originally gained notoriety when Ethereum co-founder Vitalik Buterin donated more than $1 billion worth of SHIB to the India COVID-19 Relief Fund. While many analysts thought the project …