Bits and stuff: blogs, banks and bookstores – Sept 27, 2017

 

Tim Swanson’s looooooong article pointing out the lack of oversight, due diligence and inquisitiveness in the cryptocurrency sector has many good points. The space could use more scrutiny.

I don’t agree with the insinuation, though, that CoinDesk’s reporting on ICOs infringes securities laws. Not even in a physically challenging stretch of the imagination can informing readers of how much has been raised be interpreted as solicitation, any more than reporting on bitcoin’s price can be taken to mean a recommendation to buy. Also, any reader of CoinDesk would know that the journalists report the news, they don’t give opinions (except for me, but that’s my job, and I’ve never “promoted” anything – occasionally I’ll opine on end uses for tokens, but no market recommendations are given). And our opinion pieces from industry experts are labelled as such.

Tim is right, though, in that all of us who work in blockchain media need to be careful in our reporting, especially given the rampant hype. Some myth-busting is generally constructive. And it’s good to have thinkers out there who can call the sector to account.

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A group of Japanese banks plans to introduce a new digital currency – J-coin, of course – in time for the 2020 Olympic Games.

It’s not based on the blockchain.

Japanese bank MUFG has been working on their own blockchain-based currency, but is reported to be considering joining the J-coin consortium.

Does this mean that blockchain lost?

No, of course not. Let’s see how the non-blockchain version works before we decide. It almost certainly won’t have the same privacy features.

It is curious that Japan, with its technologically-aware populace, is so reluctant to go digital with payments. 70% of transactions are still conducted with cash, vs around 30% for most western countries… This would be interesting to unpack some more, and could teach us much about the potential progress of digital coins in less developed countries.

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Ben Thompson of Stratechery on the advantages of blogs vs books.

“It became increasingly apparent, to me anyways, that while books remained a fantastic medium for stories, both fiction and non, blogs were not only good enough, they were actually better for ideas closely tied to a world changing far more quickly than any book-related editorial process can keep up with.”

Like blockchain and business, maybe??

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A bookshop-themed youth hostel? Almost enough to make me want to be young again… (via My Modern Met).

via My Modern Met
via My Modern Met

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