Conor on Web3

By Conor Svensson

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47

issues

#47・

Trust anchors

Many advocates of DeFi received a wake-up call last week when the leading decentralised lending platform Aave found itself unable to fully liquidate a CRV position on its platform (CRV is the token of DeFi exchange Curve), resulting in Aave having to make the…

#46・

The future

The fallout from SBF and FTX continues, with Digital Currency Group owner of Coindesk, Genesis and Grayscale Investments being the latest company that could be in trouble.However, as I wrote last week, web3 continues to be built, but without many of the distr…

#45・

Dollar dependence

In the recent Bankless debate between SBF (just one week before the FTX collapse) and Erik Voorhees on the regulation of crypto and web3, I was surprised that crypto's dependence on the U.S. dollar was not discussed.The actions of regulators are being constan…

#44・

FTX

10 days ago you could not have imagined the events that just played out in crypto. With Sam Bankman-Fried or SBF as he's known, the 30-year-old billionaire darling of crypto, seeing his entire empire collapse.The FTT token, the native token of the FTX exchang…

#43・

dFMI - decentralised Financial Market Infrastructure

Our global financial market infrastructure (FMI) is underpinned by a number of systems that are the glue that holds our financial markets together. The U.S. Federal reserve defines them as the "multilateral systems among participating financial institutions, …

#42・

Retail CBDCs

In my last issue, I debunked why concerns of privacy campaigners over CBDCs should not be of concern with respect to wholesale financial markets. I now shift the focus to retail digital currencies, which is where much of the anti-CBDC rhetoric is aimed.The co…

#41・

Wholesale CBDCs

CBDCs and DLT are getting hotter by the day. Perhaps it's due to Money2020 having just finished, but when I jumped onto Twitter at the weekend, CDBCs were trending.On one side of the fence, you have central bankers and the TradFi community singing their prais…

 
#40・

Web3 domains

We were fortunate when the world wide web emerged that the Domain Name Service (DNS) was already baked into the user experience. For current users of Web3 this isn't the case, however, for many, I believe it will be, as we're still so early in the evolution o…

#39・

Non-sovereign currencies

During the past couple of years, we have seen cryptocurrency adoption skyrocket. In the UK for instance, 6.2% of the population now holds cryptocurrency.However, they are still viewed by many as a purely speculative financial vehicle where the value of invest…

#38・

Wholesale DeFi

There is a significant disconnect between TradFi and DeFi. TradFi is regulated, DeFi is not. Between the two industries lives a large void of uncertainty where startups, corporates and web3 hackers try to find ways to bridge the two.To proponents of web3, the…

 
#37・

Protocols as a service

During the past decade software as a service (SaaS) emerged as the dominant business model for technology startups. The ease with which products could be launched provided a blueprint for entrepreneurs to launch businesses that could readily scale using cloud…

#36・

Taxing times

The volatility of crypto-assets forces a lot of users to pay attention to the tax implications of any holdings. Unlike most other investments, the fact that these assets can move by 50% in a matter of days, it's really important that tax implications are kept…

#35・

Network states

In his recent book, The Network State, Balaji Srinivasan set out his belief about what will be the successor to the nation-state. This will be an entirely new type of virtual state — the network state.The network state will be built using many technologies fa…

 
#34・

Enterprise Blockchain Redux

It's been almost 6 years since J.P. Morgan released the enterprise Ethereum client Quorum (now ConsenSys Quorum), however during the past few years, the focus has shifted somewhat to public blockchain networks. Last month, the enterprise blockchain narrative …

#33・

The Merge

TLDR;Post merge, network power consumption goes down by ~99.95% and you can get a risk-free yield of 4-5%Ethereum's ecosystem is likely already more valuable than Eth's market capMost of the significant Web3 innovations happened first on EthereumIt has a func…

#32・

Decentralisation at all costs?

Proponents of Web3 like decentralisation. The concept of blockchain networks being unstoppable, where no individual, company or state can exert significant influence, resonates strongly with many of their users and proponents.The specific reasons for this can…

 
#31・

The fight for privacy

Last week Web3 privacy was dealt a significant blow by a US regulator when the SEC sanctioned the Tornado Cash service that runs on Ethereum.Tornado cash is a mixing service which allows holders of Ether to anonymise their holdings. When you hold a cryptocurr…

#30・

Web3 sceptics

Just because we're in a bear market, doesn't mean Web3 is any less significant.It's amazing quite how much negative sentiment there is currently about Web3. There's little doubt that the cryptocurrency markets have entered a bear market phase due to the value…

#29・

On-chain finance

The robustness of blockchain networks underpinning Web3 is what makes this technology so compelling. It is my belief that in the coming years much of the day-to-day technology we rely on will be underpinned by Web3 networks.The motivations for this shift will…

#28・

Talent wars

At the end of 2019, LinkedIn published an article about the most in-demand skills for 2020. In the list of hard skills, cloud computing was knocked off the top spot by a new entrant to the list — blockchain.This was back when crypto, NFTs and Web3 weren't a m…