The Royal Melbourne Institute of Technology’s (RMIT) Blockchain Innovation Hub has released a report proposing the implementation of pilot Decentralized Autonomous Organization (DAO), to assist specific precincts in Melbourne’s CBD in recovering from the impacts of the pandemic. The report, which is part of a five-piece series of reports funded by the Victorian Government, details how blockchain technology — specifically DAOs — can be used to help cities like Melbourne recover from a lack of economic activity during the pandemic and to survive into the future with the likely persistence of hybrid working arrangements. Created in consultation with the City …

In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance and blockchain space, as well as their roles in shaping the economy of the 21st century. Traditional finance experts are warming up to the idea of crypto, but outlandish headlines of record-breaking hacks and overhyped projects don’t necessarily reverse its bad rap. Unfortunately, we’ve seen the total value locked in decentralized finance (DeFi) recently nosedive, which isn’t exactly helpful in changing skeptic’s minds. While crypto is much more than its lows, those in the centralized finance (CeFi) space aren’t necessarily jumping …

What is it with these sly, funny, but boring looking apes that continue to make headlines? Many collectors argue that it’s less about the image itself and more about the culture, social capital and wealth the community of owners have gained from Bored Ape Yacht Club (BAYC) that give the collection its value. Amassing over $1.42 billion in total volume, the community entrusted that the creators would deliver on its promise for token emission. On March 17, BAYCs utility and governance token, ApeCoin (APE) was made eligible to claim for BAYC and Mutant Ape Yacht Club (MAYC) holders. According to …

The perfect blockchain comprises three elements: security, decentralization and scalability. The first two are said to go hand in hand, with decentralization being the backbone of blockchain technology, which requires no central authority or intermediary to operate. For this reason, Bitcoin initially arose as a solution with the ability to transfer funds without involving a central bank. Without an intermediary, security is maintained through a method of validation, where network nodes must approve a transaction. At its foundation, early blockchains met these two criteria. Therefore, where blockchains are lacking is in the third component, scalability. With platforms like Ethereum (ETH) …

The rise of Web3 has paved the way for new business models that could shape the next phase of the internet. For instance, nonfungible tokens (NFTs) will play a large part in the open metaverse as the underlying assets people interact with. Decentralized autonomous organizations (DAOs) are also coming to fruition to allow for community governance within virtual environments. The growth of Web3 has essentially allowed NFTs and DAOs to flourish. For example, recent data from DeepDAO — a DAO stats platform — shows that DAOs have experienced 130-times growth over the last year, reaching a market capitalization of $24.8 …

Vitalik Buterin, the founder of Ethereum (ETH), recently expressed his concerns about Ethereum’s future. However, attendees of the recent ETHDubai event voiced mixed sentiments over Buterin’s talk on crypto’s perils. In an interview, Ethereum’s founder pointed out some of his worries regarding the platform. This includes the platform being populated by players who are only after profit and deviate from the original vision of an egalitarian platform. "If we don’t exercise our voice, the only things that get built are the things that are immediately profitable,” Buterin said. Commenting on Buterin’s woes, Sergej Kunz, the co-founder of 1inch Network, expressed …

The future of Web3 domain names The Ethereum Name Service aims to make crypto transactions more convenient and accessible, similar to how PayPal can be used to pay a friend for lunch in crypto. ENS is a step forward in terms of making blockchain interaction more accessible. However, because of its use and growing popularity, we may witness an increase in ENS names, just as we no longer use IP addresses to access the web. Businesses will become more transparent and user-centric due to Web3 hostings. It opens the door for blockchain, and in the future, individuals, apps and websites …

Scientists can leverage blockchain tools, such as smart contracts and tokens, to improve collaboration in scientific endeavors between different stakeholders. This so-called decentralized science movement, or DeSci for short, combines blockchain and Web3 technologies to improve scientific research. A primary goal of DeSci is wider participation and funding when approaching scientific challenges, as well as democratizing the peer-to-peer review process, which is dominated by a few journals in which it can be costly to appear and combatting censorship. DeSci can also create standards for research storage with the proof of existence technology. Whereas on financial blockchains such as Bitcoin, transactions …

The music sector hit record revenues at $25.9 billion in 2021, which amounts to an 18.5% growth from 2020, according to IFPI’s “Global Music Report.” Of these nearly $26 billion, streaming drove the bulk of the growth, with a 24.3% increase relative to 2020. These patterns constitute great news for the emerging class of NFT musicians and highlight the demand for audio and video content. Even if the way that streaming is done changes — moving from centralized platforms, like Spotify to decentralized NFT marketplaces — streaming is here to stay. The rise in streaming is part of a broader …

The New York Times: “Reality Intrudes on a Utopian Crypto Vision.” Bloomberg: “The Next Crypto Bust May Be Spelled D-A-O.” The Guardian: “Are blockchain-based DAOs really a utopian revolution in the making?” Seemingly every week, another old-guard media outlet echoes the talking points of defenders of the status quo financial system who fear and distrust the economic opportunities that will be unlocked through the power of decentralized autonomous organizations (DAOs). While publications are right to recognize the unsurprising early growing pains of DAOs, this sort of hand-wringing misses the forest for the trees when it comes to the impact of …

The world is largely governed by the creator economy, an economy defined as a class of businesses that rely on the 50 million content curators, bloggers, creators and videographers that bring something new or original into existence. This differs greatly from the previously defined attention economy, where brands were forced to fight to be the loudest in a saturated market. Now, social media platforms have enabled the easy distribution of content, encouraging the growth of something bigger than a company’s offerings— the creation of communities. Creators provide value to the economy through their ability to entertain, inspire, and inspire trust …

“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the best altcoins to buy for under $3. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they discuss the best altcoins to buy for under $3. First up, we have Bourgi with his first pick of …