Crypto assets for liquid democracy: The future of public finance
In the world of Web3, we will participate in collective decision-making through liquid democracy powered by crypto assets and smart contracts. Power historically shifts from governments to people. Democracy is the product of revolution and disruptive innovation by those who abhor the elitism of aristocracy and monarchy, who fear the single-mindedness of theocracy, and who see the impracticability of communism. More than ever before, governments represent fairer and more trustless social contracts. How do we merge the rule of law with “code is law,” and can we have both?As we behold the....
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What's the last thing you expect an entrepreneur from one of the most prominent multi billion-dollar banking families in the United States to say? Would it include bitcoin in any form? Many would suggest the digital currency would be a banker's worst nightmare, but Matthew Taylor Mellon II - presently the Chairman of the New York Republican Party's Finance Committee - seems to be quite the fan. In an interview with Forbes, the highly-successful business man suggested digital currency could be the future of democracy in some respects. "I feel like citizens are fed up with banksters," he....
Japanese cryptocurrency exchange Liquid is suspending deposits and withdrawals after a security breach resulting in the loss of around an estimated $80 million in digital assets. The platform published the suspected hacker’s addresses and said it’s moving funds to cold storage. Hacker Hits Japanese Crypto Exchange Liquid Asian cryptocurrency exchange Liquid Global has confirmed it has been targeted in a hacking attack. In a notice tweeted early on Thursday, the coin trading platform revealed that some of its warm wallets were compromised, adding that it’s currently....
In 2017, high-flying bitcoiners attempted to foment democracy in Venezuela by airdropping crypto and paper wallets. What did we learn from these experiments?
Staking is complicated, but learning the truth behind these four myths will help to increase liquid staking mass adoption. Blockchains have relied on proof-of-work (PoW) validation since their inception. Yet the PoW consensus proved to be unsustainable with its high energy usage and its need for fast, powerful hardware creating high barriers to entry. That’s why blockchains are adopting proof-of-stake consensus algorithms (PoS), where those wanting to earn rewards don’t have to compete against other miners, but can simply stake part of their crypto for a chance to be chosen to be a....
Democracy is defined as a system of government by the whole population or all the eligible members of a state, typically through elected representatives. This makes election a very important aspect of human existence. Weakness of existing models. The struggle for power and control has seen the weaknesses of existing methods of the electoral processes being explored, exposing the system to the plague of accusations of illegitimacy. Since the advent of the Blockchain and immutable data technology, there have been innovations of voting systems claiming to make it trustless, transparent and....