The Co-founder of Ethereum, Joseph Lubin, recently spoke at CryptoConf about how we could move to next-generation IT infrastructures and trust minimized networks that will help protect peoples’ identities and allow new innovations like cryptocurrencies, self-executing legal agreements, and self-sovereign identities to be established.
Lubin spoke about ConsenSys incubating over 50 projects, all of which would bring about a decentralized future. He went on to talk about Web 3.0 and the moves they were making to give an idea of the decentralized future they were bringing to the world.
“The internet has evolved over the years from web 1.0 of the past to web 2.0 of the present and soon web 3.0 of the near future. We know that Web 1.0 was a profound invention and Web 2.0 profoundly impacted global society, but what we are merging into web 3.0 is the decentralized World Wide Web and it’s picking up steam as we speak”
Furthermore, Lubin stated that with their Web 3.0 architecture new ways of interacting will evolve, and interoperability will be the key to self-sovereign identity. Lubin explained that uPort is a project dedicated to fixing identity issues on the web, which is one of the main drawbacks of the web 2.0. These drawbacks, as debriefed by Lubin, have led to users’ identities being fractured across the Internet.
Self-sovereign identity is a way of protecting one’s identity on the web, which, in the present scenario is bound to be stolen by hackers or sold online. uPort is among the leading startups which focus on helping users take control of their own identity and protect it while on the web via smart contracts. uPort in one of their posts explained:
“uPort identity is a complete digital representation of a person or organization that is able to make statements about who they are when interacting with smart contracts and other uPort identities, either on-chain or off-chain. This ability to make statements about themselves, without relying on centralized identity providers, is what makes uPort a platform for self-sovereign identity.”
Joseph Lubin also added that they were working continually in turning the Web 2.0’s models upside down and simultaneously constructing Web 3.0.
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Grayscale Investments: Ethereum Trust [ETHE] receives FINRA approval for public quotation on OTC markets
Grayscale Investments, a digital asset management firm, made an announcement with regard to the second largest cryptocurrency in the market, Ethereum. The platform stated that the Financial Industry Regulatory Authority [FINRA] approved its Ethereum Trust, ETHE, making it the third publicly quoted investment product. The other two publicly quoted investment products are Grayscale Bitcoin Trust [OTCQX: GBTC] and Grayscale Ethereum Classic Trust [OTCQX: ETCG].
Grayscale Investments stated on Twitter,
“Our team continues to bring new opportunities for investors to gain exposure to digital currencies. We’re pleased to share that Grayscale Ethereum Trust received FINRA approval for a public quotation on
@OTCMarkets under symbol: $ETHE* https://gryscl.co/2M4wVER (1/2)”
In a blog post, the platform stated that each Share of ETHE would be equivalent to 0.09662399 Ethereum, as of 30th April 2019. Further, the asset management firm also stated that the Ethereum in each share would decrease over a period of time as ETHE would not “generate income” and the Ethereum would be “regularly distributed” to clear-out expenses.
It further stated,
“There will be no trading volume in the Shares’ public quotation until the Shares are DTC eligible, which ETHE is expected to receive soon. Investors will be able to find current financial disclosure and Real-Time Level 2 quotes for Shares of ETHE on the OTC Markets website once trading commences. “
The ‘announcement of this announcement’ was made yesterday by Barry Silbert, the CEO of Digital Currency Group, thereby creating a buzz. Barry Silbert had stated on Twitter,
@GrayscaleInvest for some big news at 9 am NY time tomorrow. Announcing an announcement (yeah, that’s how I roll)”
To add on, the firm had recently launched the #DropGold initiative, with its main focus being prompting investors to invest in the digital gold, Bitcoin. The firm had stated,
“Grayscale is again pushing the envelope for traditional investors with a clear message: it’s time to #DropGold. […] Grayscale is again pushing the envelope for traditional investors with a clear message: it’s time to #DropGold.
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