S3T.ORG - The Halloween Edition, Big Tech & Crypto, Future of Fiber, DAO Best Practices, Is Decentralization Real?...
📈 📉 Macro & Key Developments
Economic growth measured by the Gross Domestic Product (GDP) beat expectations last week, rising 2.6% and Bitcoin kissed 21,000 for the first time in a while early Saturday morning. Still food shortages loom around the world (here and here), and 55% of Americans are behind on retirement savings.
Iranian women continue fighting for freedom, amid hope that this time they will prevail. How you can help.
Big Tech & Crypto Pairing Up
Binance - the worlds largest crypto exchange and $500M equity partner with Elon Musk's takeover of Twitter - is forming a team to assist Twitter's crypto plans. In a similar vein, Coinbase announced a partnership with Google this week (more about this in the next segment).
🔎 Closer Examination: Fiber & Decentralization
A look at the future of infrastructure and the emerging question of how far "down the stack" decentralization will need to go.
Consider the evolution of the World Wide Web in relation to fiber optic networks:
- Web1 (Read Only) largely predated fiber optic networks.
- Web2 (Read & Write) was enabled by the higher speeds of fiber optic networks
- Web3 (Read, Write, Execute, Own) - for now - relies on this same network.
But is the future state of Web3 (as presaged by the design requirements demanded by some of its champions) actually compatible with the current ownership structure and capabilities of current fiber optic networks?
Starting point context:
- Existing Web2 players seek involvement in Web3. For example Google Cloud / Coinbase partnership announced last week, bringing Coinbase's payment and Cloud Node functionality to Google Cloud (Also: why this matters for crypto).
- Distinction between basic vs premium fiber. The Google/Coinbase partnership noted above lets Coinbase its clients and developers use Google's Premium Fiber-Optic Network. (Premium moves data faster w fewer hops).
- Changes to the fiber optic equipment will be required due to sea level rise over the next 15 years. See this report for detailed analysis and publicly traded companies with the highest risks. And this AAX note on current vulnerabilities in the current internet infrastructure.
- Web3 will be maturing alongside other scaling technologies (think IOT, 5G and beyond, etc) and will likely have greater and greater bandwidth requirements due to its design and intended use.
Taken together these 4 points suggests what to anticipate: