November 30, 2023

Blockchain Bargains and AI Ethics

Blockchain Bargains and AI Ethics

A Decent Publication

Presented by CryptoLink.Tech & GaussGang.com

Volume 1 | Edition 24 | November 30, 2023

Opening Thoughts

Happy Thursday, Chain Reaction Crew!

As I brewed my morning cup – a ritual that's as much about the smell as it is about the caffeine – I found myself catching up on the latest in web3 as I had been a bit behind due to the holiday weekend. In these realms, change is the only constant, and each week brings its own set of surprises.

Lately, I've been reflecting on how our journey through web3 and tech isn't just about staying ahead of the curve by reading headlines; it's about understanding the effects of the stories behind the headlines. Whether it's the shifts in the crypto markets or the groundbreaking advancements in AI technology, each piece of news shapes our understanding and perspective of this wonky space.

Speaking of shaping narratives, how about the latest in the crypto world?

Bitcoin, Ethereum, Solana, amongst others have been showing some interesting moves lately. Amidst a turbulent macro environment, it's fascinating to see how resilience and innovation continue to be the cornerstone of this sector.

But enough about the market dynamics for now. This week, I want to focus on something that often gets lost in the noise – the community. You, the readers, are the heart and soul of this newsletter. Your insights, your questions, and your passion for the tech world drive this publication.

So, as we dive into the latest developments and dissect the intricate stories of our digital age, let's not forget the human element that connects us all. Whether you're a crypto veteran or just dipping your toes into the digital waters, your perspective is what makes this journey worthwhile.

Let's unwrap this week's important stuff, shall we?


World Of Web3

Navigating the immense amount of nonsense in this space, bringing you only the good stuff.

KyberSwap's Negotiation Saga: A Game of Strategy in the DeFi Arena

As we dive into Winter’s gripping chapter of DeFi, the $46 million KyberSwap heist stands out. This isn't just a tale of digital theft; it's a narrative rich with strategy and negotiation.

KyberSwap, after falling victim to this massive security breach on November 22, offered the hacker a 10% bounty ($4.6 million), for the return of the stolen assets. This public, on-chain proposal marked a departure from typical post-breach responses.

This situation, unfolding like a chess game, highlights the nuanced challenges in the DeFi space. It underscores the necessity of strong security measures and innovative strategies to counter such exploits. It's a stark reminder of the evolving dynamics in the DeFi ecosystem.

As we await further developments, this saga serves as a critical lesson and a real-world example of game theory in action in the blockchain world​.

Read more about this story on Cointelegraph

Stability Is Key: Binance Announces End Date For BUSD Stablecoin

We all knew it was coming, we just weren’t sure when.

In a significant development in the cryptocurrency landscape, Binance, one of the largest crypto exchanges globally, has announced a decisive move away from Binance USD (BUSD), its native stablecoin. This decision is set to take effect on December 15, 2023.

Binance's announcement on November 29 specified that users should convert or withdraw their BUSD holdings before December 15. After this date, the platform will disable BUSD withdrawals, and existing balances will be automatically converted into First Digital USD (FDUSD) for certain users.

The context behind this shift is multi-layered.

In February, the U.S. Securities and Exchange Commission suggested that BUSD might be an unregistered security. Following this, the New York Department of Financial Services ordered Paxos, the issuer of BUSD, to stop its issuance. These regulatory actions have evidently influenced Binance's decision to distance itself from BUSD.

This move by Binance also comes after a settlement with U.S. authorities involving a hefty $4.3 billion payment and the resignation of its former CEO, Changpeng Zhao (CZ), marking a period of notable change for the blockchain behemoth.

As we watch Binance's strategic pivot, it's clear that the crypto world is in a state of flux, with regulatory pressures and market dynamics reshaping the landscape.

The ripple effects of this decision will be felt across the crypto ecosystem, influencing future strategies of other players in the space.

To stay up-to-date on everything Binance, be sure to follow their official X account below.


Tech Trends

For that cousin at holiday dinners. (Did you use any of these last week?)

Sports Illustrated's AI Authorship Controversy: Reflecting on Media's Ethical Crossroads

In the world of digital media, a recent revelation about Sports Illustrated using AI-generated authors brings us at Decent Media to an interesting crossroads in our journey. The magazine reportedly published articles by 'authors' who appear to be fake, backed by AI-generated imagery and content.

This news raises profound questions about the ethical use of AI in journalism, a topic that resonates deeply with our mission at Decent Media.

At Decent Media, we're dedicated to bridging the gap between technological advancement and journalistic integrity. The Sports Illustrated incident, involving writers like "Drew Ortiz" and "Sora Tanaka," whose authenticity has been questioned due to their AI-generated profiles and unnatural language in articles, highlights a broader dilemma in the media industry.

As we strive for growth and innovation, how do we balance the power of AI's efficiency and the changing ethical standards in journalism?

This incident isn't just about AI overstepping in content creation; it's a mirror reflecting the broader challenges facing the media sector. We're in an era where the lines between human creativity and AI efficiency are increasingly blurred (If you haven’t seen the first episode of the latest Black Mirror season, watch it).

For media companies, including Decent Media, this raises a critical question: how do we responsibly harness the power of AI without diluting the essence of human-driven journalism?

As the media sector grapples with these challenges, there isn't a one-size-fits-all solution. The key lies in ongoing dialogue, ethical considerations, and a commitment to understanding the technology at our fingertips. As these battles are fought and expectations in journalism evolve, small entities like Decent Media will be forced to make tough decisions in regard to growth.

Read more about this story at Business Insider


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Gaussian Gazette

Your favorite brand will build on Gauss one day.

It’s Alive: GUD Bridge, NobleSwap Launch on Gauss Mainnet

This is the best news of the week!

The incredible development teams from both Gauss and CryptoLink worked around the clock last week to launch the GUD stablecoin bridge and successfully pushed it live.

With the launch of NobleSwap and GUD we are seeing the official launch of the Gauss Mainnet, with the ability to hold and bridge tokens on the Gauss blockchain.

Tomorrow (Friday) we will be holding a space on X to go further into detail on the amazing milestone and what is next for Gaussians over the next few months. We do not have a link up for that quite yet but be sure to turn on notifications for Gauss’ X account down below so you don’t miss it!

For now, here are a few quick updates:

  • GUD bridge to and from Polygon is LIVE

  • NobleSwap is LIVE

  • NFT Marketplace soon…

  • Gleam & Zealy distribution beginning this weekend

  • THIING, FERRET NFTs, Ferro Card Reward Funnel, and others have not launched yet

Click the link below and stop by the space for a more in-depth dive into what Gauss is building and planning to do over the winter months.


Innovagination

Get your mind out of the gutter — It’s the intersection of innovation and imagination.

Lemono: Squeezing Blockchain Innovation into Your Shopping Cart

LemonO's Mission: The PayPal of Crypto Lemono’s aspiration to become the PayPal of crypto is a bold statement. They aim to create a central hub for loyalty points and cashback rewards earned from shopping, all on the blockchain. This is a significant step in bringing blockchain technology into everyday transactions​​.

A New Shopping Experience: Picture this: You're browsing online for some trendy clothes. With the Lemono extension, you're informed of a partnership with the store you're shopping at. As you check out your cart, valued at a thousand dollars, Lemono offers you a 5% discount. Not only do you save $50, but you also earn back $47.50 in LEMONO tokens, thanks to Lemono's referral commission from the store. This is the kind of seamless, rewarding shopping experience Lemono is aiming to deliver​​.

Win-Win for Businesses: It's not just consumers who benefit. By partnering with Lemono, businesses gain access to thousands of potential customers. Lemono promotes partner businesses and refers users through its partner category. It's a free-to-join model for businesses, with a small commission fee on successful orders. This approach creates a win-win situation, potentially driving more traffic and sales to participating businesses​​.

The Road Ahead: As Lemono gears up to integrate blockchain technology into our shopping habits, it's more than just a platform for savings and earnings; it's a potential catalyst for the broader adoption of cryptocurrencies in everyday life. This is an exciting development for all of us at Decent Media, as we continue to explore the intersection of technology and practicality in the digital age.

Check out Lemono’s links below!

Browser Extension (Alpha): https://chromewebstore.google.com/detail/getlemono/ckocamjieoopfdiolffoenejgjmbidgc?pli=1


CryptoLink Connect

These guys make “cross-chain” as easy as opening Chain Reaction.

Big News Coming Soon

The development team has been working on a few upgrades/solutions that will help us propel further into the spotlight!

Stay tuned next week for some updates on the fastest cross-chain solution in web3!


Final Byte: Wally’s Wisdom

As we close another week full of tech twists and turns, it's remarkable to see how technology continues to weave into the fabric of our everyday lives. Whether it's the innovative approach of LemonO in online shopping or the nuanced debates around AI in journalism, these stories aren't just news items; they're signposts of the dynamic world we're all a part of.

In this journey, our mission at Decent Media remains steadfast: to bring you not only the latest but also the most meaningful stories at the intersection of technology and life. As we navigate these exciting yet complex times together, your insights and engagement are what fuel this adventure. So, here's a big shoutout to you, our readers – for joining us on this ride, week after week.

Until next week, keep exploring, questioning, and staying connected. After all, that's what makes this tech odyssey worthwhile!

Best,

Wally
Marketing/Branding — CryptoLink.Tech
Co-Founder — Decent Media

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If you are catching today’s edition on the web and you are not already subscribed, do us a favor and click the button below! Subscribing is free and it is the #1 way to support the Chain Reaction newsletter. In the future, we will be exploring the possibility of subscriber and referral rewards.