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The internet is at the cusp of entering a new phase, one where entrenched rulers are dethroned, more power is reclaimed by individuals and value moves as freely as cat GIFs.
To understand why we need a better internet in the first place, consider this question: Isn’t it weird the internet isn’t good at money? Think about it. The applications we use every day to search, to communicate, even to shop; the companies that dominate the web are very bad at dealing with money, even if they’re very good at making it. There’s a separate checkout process, where you repeatedly enter all your information. Cards issued in some countries don’t work on local websites in other countries. Sometimes you wait for what feels like an eternity watching that tiny wheel turn, to have the transaction fail.
Camila Russo is the founder of The Defiant, a content platform focusing on decentralized finance, and the author of “The Infinite Machine” about the history of Ethereum. Previously, she was a Bloomberg News reporter covering markets in Buenos Aires, Madrid and New York. She is a speaker at CoinDesk’s invest: ethereum economy event beginning Oct. 14.
More complex transactions are almost unthinkable. Influencers and creators should be able to monetize their likes, retweets and views, with micropayments streamed from followers, without any platform taking a cut. Less-famous mortals should get paid if they opt in to view ads or consent to sharing their information. Transferring ownership of valuable assets, from art to real estate, shouldn’t take several intermediaries and tons of paperwork.
There’s the internet’s TCP/IP protocol. There are apps built on top of it. And, separately, there’s the financial system, which relies largely on infrastructure built before the internet was invented. SWIFT, IBAN, the rails handling most international money transfers, weren’t designed to
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In the last decade, decentralized platforms have taken the data world by storm. Top programmers aspire to create more efficient and effective platforms than ever, making the market for these products one of the most competitive in the world. Meet the five APAC entrepreneurs disrupting their industry, transforming the future of decentralized platforms and navigating their way towards digital transformation.
Simon Kim, Founder and CEO of Hashed
The mind behind Hashed, Simon Kim is a serial South Korean entrepreneur, blockchain thought leader, and evangelist. Previously, he served as the CPO of Knowre, an adaptive mathematics learning platform. Today, Kim balances his distinguished roles of venture partner at Softbank Ventures Asia, member of the 4th Revolution Committee of South Korea’s Parliament, and Director of the Korea Blockchain Association. He also participates in the Busan Blockchain Free Zone committee. Kim is a strong believer in the importance of consumer-centric applications in the blockchain space. Together, with a team of fellow eminent entrepreneurs, Kim co-founded Hashed in 2016.
Hashed is a leading, strategic crypto investment fund operated out of Seoul and the Silicon Valley. The fund’s stated mission is to “discover, invest in, and support innovative decentralized projects”. Hashed’s key selling point is its focus on the “protocol economy”, which it defines as “an economic system where individuals or groups can participate in the economic activities and earn rewards according to their contributions”. Hence, the venture capital fund is significantly involved in community building and developing sustainable token models for the projects it works with. Hashed has a diverse portfolio of investments, of which half are US-based projects, and half are from Asia or elsewhere. Among its Asian investments, two stand out in particular: Line’s LINK and Kakao’s Klaytn.
When Priyanka Sharma took the reins at the Cloud Native Computing Foundation (CNCF) this summer, it was hard to say whether her timing was auspicious or ominous.
As general manager of the organization that oversees the fast-growing open source movement, she is in an immensely influential position. But with a global pandemic upending everyone’s plans, she knew the foundation’s priorities would need to adapt.
For four months now, she’s been trying to strike a balance between helping the foundation navigate its technical mission and tending to the well-being of its community. What she’s learned so far is that both aspects are essential for an open source movement to thrive.
“Many people are like, ‘Oh, what a terrible time to walk into this job,’” Sharma said. “But I think it’s been really good because I’ve had a chance to step up and help the community go through a challenging period.”
A new cloud infrastructure
Founded in 2015, the CNCF is an open source organization that operates under the umbrella of the Linux Foundation. The CNCF’s mandate is to oversee the ecosystem of tools being developed to drive the growth of “microservices,” or “cloud-native computing.”
This approach to developing cloud infrastructure, which relies on containers, holds that breaking applications into smaller, self-contained units can significantly reduce the costs and time needed to write, deploy, and manage them. The result should be a web that is faster yet more stable. Just as compelling to proponents, it should deliver a more open web that makes it easier for users to change cloud platforms.
As containers began taking off several years ago, Google developed an orchestration platform called Kubernetes to manage them. Google approached the Linux Foundation about open-sourcing Kubernetes, and those talks led to the creation of the CNCF, which also counts Twitter, Huawei,