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<ul><li>Web3 tokens are those that will be used to power decentralised apps (DApps).</li><li>Web3 tokens are built on platforms like Ethereum, but usually have their own platforms associated with them.</li><li>The top web3 tokens are those that are meant to bridge today’s web2 solutions with tomorrow’s DApps.</li></ul>The term “web3” may have originated less than a decade ago, but its implications are far reaching. While the first generation of the internet (web1) was driven by singular websites, the second generation (web2) saw the rise of platforms — like Facebook or Instagram — the third generation (web3) will be driven by decentralised services, or DApps. And powering every DApp is a crypto token that powers the respective service. There are two ways to look at web3 tokens. On the one hand you have crypto platforms like Bitcoin or Ethereum, which are being used to build new apps. However, a web3 platform that seeks to make a real impact will usually have its own token too. For example, decentralised games like Decentraland come with the Mana token, while lending platform MakeDAO has a token called DAI. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> Here are five of the most important web3 tokens worth watching today: <cmsannotation type="cmsannotation" annotationid="Polkadot" comment="subhead" text="Polkadot">Polkadot</cmsannotation> <div type="image" title="5" msid="89076904" hostid="261" caption="&amp;lt;p&amp;gt;Polkadot&amp;lt;/p&amp;gt;"></div> Simply put, Polkadot is a blockchain platform designed to connect different blockchains. It facilitates interoperability between Ethereum, Bitcoin and other blockchain platforms. But before we get to that, let’s talk about its inception. Polkadot was founded by Gavin Wood, one of the founders of Ethereum, which is also one of the reasons why so many people put their faith in this token. At the time of writing, <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-advertorial">WazirX</a> listed the token at ₹ 2225. According to Coinmarketcap, the DOT token has a market cap of over $1.3 billion. Polkadot’s design splits the platform into the main — or “relay chain” — and parallel chains, which are also called “parachains.” These parachains are responsible for connecting to other platforms. So, someone building a decentralised finance (DeFi) app can build the platform on the relay chain, and use the side chains to connect and interact with other DeFi solutions. The first five parachains went live in December leading Polkadot to reach an<a href="https://www.businessinsider.in/cryptocurrency/news/polkadot-hits-a-new-all-time-high-of-51-ahead-of-its-very-first-parachain-auctions-getting-approved/articleshow/87484392.cms"> all-time-high</a> of $51 at the end of 2021. Other than the fact that Polkadot is backed by Wood and the Web3 Foundation, interoperability, sustainability and scalability are some of the main reasons why this token and its underlying platform is expected to power many future web3 services, according to its proponents. <cmsannotation type="cmsannotation" annotationid="Filecoin" comment="subhead" text="Filecoin"><keyword id="10952238" type="General" weightage="20" keywordseo="filecoin" source="Orion">Filecoin</keyword></cmsannotation> <div type="image" title="1" msid="89077093" hostid="261" caption="&amp;lt;p&amp;gt;Filecoin&amp;lt;/p&amp;gt;"></div> Polkadot was launched in 2020 and in some ways is yet to be proven. However, there’s an older and somewhat easier to understand one that you can follow. And, it’s called Filecoin. Like other web3 tokens, Filecoin too will power services in the third generation of the internet, but unlike the others, it hits directly at the core of today’s web2 business models. Experts, critics and users have often argued that big tech firms like Facebook, Google and Microsoft wield so much power simply because the majority of the world’s important and sensitive data is processed on their servers and stored in their data centres. Which is what Filecoin aims to intervene. This decentralised storage network began in 2014, and has since powered many web3 apps. The idea behind Filecoin is simple — get users to join the network and share the storage space on their devices so that data can be stored over a decentralised, and potentially global network. The idea actually has been explored in HBO’s hit show Silicon Valley with DApp called ‘PiedPiper’. None of the users actually own any of the data, and no one user has access to all of it either. Since Filecoin has built a huge network of its own, it now offers this as a sort of a data centre solution for developers who don’t want to depend on traditional web2 storage. The FIL token powers the network. It is what Filecoin offers to those who are letting others use their storage, and its price stood at ₹2,430 on <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-advertorial">WazirX</a> at the time of writing. The more platforms that use Filecoin, the more the chances of FIL increasing its already large $318 million market cap. <cmsannotation type="cmsannotation" annotationid="Arweave" comment="subhead" text="Arweave"><keyword id="13016306" type="General" weightage="20" keywordseo="arweave" source="Orion">Arweave</keyword></cmsannotation> <div type="image" title="2" msid="89077110" hostid="261" caption="&amp;lt;p&amp;gt;Arweave&amp;lt;/p&amp;gt;"></div> Like Filecoin, Arweave is also a decentralised storage solution. In the company’s own words it’s “a collectively owned hard drive that never forgets”. Like Filecoin, ARWeave charges other services, users and companies a fee to use its decentralised storage solution. The upfront fee is where ARWeave sort of differs from Filecoin. It promises that a single GB of data will be stored forever. For those providing this storage, the cost of storage falls with time, as more and more data is stored. Which makes it worth it for them too. The AR token was priced at just under ₹4000 at the time of writing and its market capitalisation stood at about $24 million. <cmsannotation type="cmsannotation" annotationid="BitTorrent" comment="subhead" text="BitTorrent"><keyword id="280892" type="General" weightage="20" keywordseo="bittorrent" source="Orion">BitTorrent</keyword></cmsannotation> <div type="image" title="3" msid="89077187" hostid="261" caption="&amp;lt;p&amp;gt;BitTorrent&amp;lt;/p&amp;gt;"></div> BitTorrent was a poster boy for the decentralised web long before the concept emerged. In fact, the foundation of peer-to-peer money like Bitcoin and many other concepts of decentralised technologies lies in torrents. Once known as a simple system used to pirate content, BitTorrent wasn’t a cryptocurrency when it formed back in 2001. That said, it is the 54th biggest cryptocurrency today, with a market capitalisation of over $2.5 billion. The part that might make it really lucrative to an investor though is that despite existing for such a long time, the BTT token was only worth ₹0.2 on WazirX at the time of writing. And that’s not because Bittorrent doesn’t have value. It’s because it’s new to the crypto world and its ‘to the moon’ moment is yet to occur, if at all. What BitTorrent has over any other web3 token though is a network that has been built over the past 21 years. It’s already the world’s largest file-sharing network, and it could use BTT token to plug into future web3 streaming services and more. <cmsannotation type="cmsannotation" annotationid="Theta Network" comment="subhead" text="Theta Network">Theta Network</cmsannotation> <div type="image" title="4" msid="89077224" hostid="261" caption="&amp;lt;p&amp;gt;Theta Network&amp;lt;/p&amp;gt;"></div> Speaking of tokens that can be useful for streaming and content firms, the Theta Network is yet another one to watch. At the time of writing, this token had a market capitalisation of over $4 billion and was the 40th largest crypto token by market capitalisation, according to Coinmarketcap. Investors can trade the THETA token on WazirX against USDT. At the time of writing, THETA was priced at $3.99. Theta Network is a blockchain platform that’s designed for video delivery networks. Video delivery platforms today, from Netflix to Amazon, Hulu and more, all depend on a centralised delivery network. Which means that all the content resides in their own data centres. Theta Network is somewhat like Filecoin, and aims to break this network down to a decentralised nature. Some of the biggest tech companies today, including Sony, Samsung and Google, have partnered with Theta already. It is one of the main reasons why people believe in the possible real world use-cases this network could have in future. All five of the above web3 tokens can be traded on crypto exchanges, including one of the leading players in India, <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-advertorial">WazirX</a>. Disclaimer: This is a sponsored post in partnership with WazirX. Do your own research (DYOR) before deciding to invest in any asset, cryptocurrency or otherwise.

Decentralised file sharing, movie streaming, and much more — these are top five Web3 cryptocurrencies to keep an eye on in 2022

<ul><li>Within 24 hours of the debut, it had a market capitalisation of $45 billion. </li><li>The <keyword id="6357017" type="DEFINITION" weightage="20" keywordseo="cryptocurrency">cryptocurrency</keyword> aims to offer a new digital asset that enables users to create software and make content. </li><li>Intends to reduce this reliance on a few big players and create a new breathing space for independent or more beneficial ideas.</li></ul>The talk of the town is <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" data-type="tilCustomLink">cryptocurrencies</a> right now, and the hype has taken over the world by storm. Young investors are holding eager to board the bandwagon as crypto is considered to be the future. The bullish attitude is easily visible across crypto charts, but nothing's as crazy as the rise of <keyword id="11241951" type="UNKNOWN" weightage="20" keywordseo="Internet-Computer">Internet Computer</keyword>. Internet Computer is a cryptocurrency that was launched on May 10, 2021. Within 24 hours of the debut, it had a market capitalisation of $45 billion. Coinbase, an American crypto exchange, listed it as the eighth-most valuable cryptocurrency for a brief period. It's currently at the ninth position, surrounded by veteran names like <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" data-type="tilCustomLink">Bitcoin</a>, Ripple, Dogecoin, and Ethereum. The cryptocurrency aims to offer a new digital asset that enables users to create software and make content. Today, if the user wants to publish something on the internet, the most common options are big tech giants like Facebook or Amazon, or sign up with a cloud company like Google or Microsoft. Internet Computer intends to reduce this reliance on a few big players and create a new breathing space for independent or more beneficial ideas. Interestingly, Internet Computer leverages smart contracts just like Ethereum and is trying to ride on its bullish trend. Smart contracts can autonomously execute, control, or update data during a transaction to enforce the terms of the agreement. Hence, all actions are automatic and no intervention is needed. Dominic Williams, the chief scientist at Dfinity, reportedly told media platform CoinDesk that: "We want people to abandon traditional IT and move all systems and services to smart contracts." It may seem like the crypto's value surged within a day simply because of the sentimental wave. But that's not true, at all. The project was actually in the works for five years, developed by Zurich-based not-for-profit organisation, Dfinity. It has also <a href="https://www.crowdfundinsider.com/2020/01/156752-andreessen-horowitz-backed-internet-computer-developer-dfinity-unveils-demo-of-open-version-of-linkedin/" data-type="tilCustomLink">attracted several impressive backers</a>, including Andreessen-Horowitz and Polychain Capital. According to CoinDesk, the project launched late last week with "multiple ecosystem companies," including "Enso Finance (a decentralised exchange), Distrikt (a professional social network), Fleek (infrastructure for the decentralised web) and Origyn (a platform for luxury goods), among several others." The project's website says that Internet Computer aims to "extend the functionality of the public Internet so that it can host backend software, transforming it into a global comput[ing] platform." One unique feature of the coin is Chain Key Technology, which confirms transactions on the network. Updation of smart contracts takes just a couple of seconds, making it a scalable option that can be deployed across various devices like a mobile phone or smartwatch. While Internet Computer offers a refreshingly new use case, the real challenge for Dfinity's blockchain is to remain in the top charts and maintain its spot, market cap, and trade price amidst the volatility.

This cryptocurrency is valued at $45 billion, and it's just a day old

<keyword id="1929801" type="UNKNOWN" weightage="100" keywordseo="Industry-4-0">Industry 4.0</keyword> is coming. The increasing digitization of manufacturing is already happening, through a combination of technologies, including the <keyword id="970768" type="UNKNOWN" weightage="100" keywordseo="internet-of-things">Internet of Things</keyword> (<keyword id="1967280" type="ORGANIZATION" weightage="100" keywordseo="IoT">IoT</keyword>), big data, analytics and next-generation applications. 
 
The development of smart factories with secure, flexible and scalable manufacturing processes will bring a raft of benefits that will take companies to a new level with their operations. McKinsey Global Institute predicts that the annual economic impact of operations and equipment optimisation through the use of IoT will range between $1.2T−3.7T in 2025. 
 
Among the new and powerful capabilities that Industry 4.0 promises are the identification of faults before they develop; increased efficiency and productivity; optimised product development and supply chains; and improved health and safety (e.g. by utilising remote-access to take people out of potentially hazardous environments). 
 
Realising these benefits will require a significant shift however, not only in terms of how organisations use the data they create, but also in terms of how they share that data across traditionally siloed business departments. This is uncharted territory for the manufacturing industry, and whilst the rewards are significant, the challenges are also numerous. 
 
Working together 
 
One fundamental barrier preventing organisations from moving towards and industry 4.0 model lies in the way they are structured. To create products and get them to customers, manufacturers perform a wide range of activities, which generally take place in a standard set of functional units: research and development (or engineering), IT, manufacturing, logistics, marketing, sales, after-sale service, human resources, procurement, and finance. 
 
Before products became smart and connected, data was generated primarily by internal operations and through transactions across the value chain—order processing, interactions with suppliers, sales interactions, customer service visits, and so on. 
 
The responsibility for defining and analysing data tended to be decentralised within functions and siloed. Though functions shared data (sales data, for example, might be used to manage service parts inventory), they did so on a limited, episodic basis. By combining the data, companies knew something about customers, demand, and costs—but much less about the functioning of products. 
 
Now, for the first time, these traditional sources of data are being supplemented by another source—the product itself. Smart, connected products can generate real-time readings that are unprecedented in their variety and volume. 
 
This data has inherent value of its own in the production cycle, yet its value increases exponentially when it is integrated with other data, such as service histories, inventory locations, commodity prices, and traffic patterns. As the ability to unlock the full value of data becomes a key source of competitive advantage, organisations are looking at ways to break down traditional siloes and turn vast quantities of unstructured data into powerful insights. 
 
Occasional cross-departmental collaboration and data-sharing is no longer sufficient. Intense, ongoing coordination becomes necessary across multiple functions, including design, operations, sales, service, and IT. 
 
A unified data lake 
 
From an operational perspective, transformation of this nature should not be underestimated. Lines will blur, and new functions will emerge with the specific aim of making sense of consolidated data-sets for the benefit of the business as a whole. 
 
As this transformation takes place, technology needs to follow suit in a way which enables data assets to be pooled and analysed to deliver valuable insights. 
 
A challenge is that the data from smart, connected products and related internal and external data are often unstructured. They may be in an array of formats, such as sensor readings, locations, temperatures, and sales and warranty history. Conventional approaches to data aggregation and analysis, such as spreadsheets and database tables, are ill-suited to managing a wide variety of data formats. 
 
In this context of upheaval and change, it’s easy to see why an increasing number of organisations see data lakes as one of the key factors in fully realising the benefits of Industry 4.0. Data lakes allow organisations to store huge amounts of unstructured data so that it can be analysed and interrogated. 
 
In order truly to tap into the power of the data being produced in a timely manner, it needs to be consolidated into a single data lake, so that big data and analytics tools are integrated and can access the full range of information to develop insight. A single data lake can therefore provide visibility of asset tracking, manufacturing operations, resources, products and key customer trends. 
 
It’s also essential to give detailed and accurate descriptions to this shared data in order to provide the appropriate level of context. 
 
There will be new types of internal and external data that manufacturers need to deal with — customer sentiment on social media, for example — so understanding its relevance is critical when taking advantage of emerging analytics capabilities. 
 
Flexibility is key 
 
Another key consideration is to ensure that your technology infrastructure is flexible enough to cope with the changing demands presented by Industry 4.0. 
 
When building IT infrastructure around a data lake, organisations need to recognise that predicting data growth is difficult. As a result, an elastic, horizontally-scalable architecture is needed, enabling organisations to handle more load by incrementally growing architecture. 
 
Products like EMC’s Isilon scale-out storage are also useful in this context, due to the simple way in which they allow storage capabilities to be changed. This software-defined approach to storage is a key part of a modern datacentre and enables the level of flexibility needed as businesses move towards Industry 4.0. 
 
Common Standards 
 Scaling up <keyword id="3475516" type="UNKNOWN" weightage="100" keywordseo="data-lakes">data-lakes</keyword> will also require common standards across data-lake providers. The recently launched “open-data platform” initiative aims to support this by promoting big data technologies with open-source software. Pivotal, the agile development services company co-owned by EMC, is one of those to have joined this effort. 
 
It’s also worth noting that block storage is often the best solution for dealing with real-time data created by industrial sensors, as it is well suited to persistent I/O operations this requires. 
 
Of course, the technology infrastructure required by organisations will vary, depending on what they want to achieve. The ‘one size fits all’ approach just won’t work when it comes to Industry 4.0. 
 
Image source 
As a result, manufacturing companies must spend time developing a strategy that will act as the foundation upon which their capabilities can be built. Once that is in place, it will become clear what needs to be done on the technology front to deliver on the potential of Industry 4.0.​ 
 
About the author: Amit Mehta is the Country Manager of Isilon Storage Division at EMC India &amp; SAARC 
 
<a href="https://prodsmart.com/wp-content/uploads/2016/01/shutterstock_270749510.jpg">Image source</a>

Getting into the Industry 4.0 mind set

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZ4AVK5CY&amp;SMLS=1&amp;RW=1355&amp;RH=718#/SearchResult&amp;VBID=2C0BXZ4AVK0UV&amp;SMLS=1&amp;RW=1355&amp;RH=718&amp;POPUPPN=29&amp;POPUPIID=2C0BF1SAIQYHK">REUTERS/Carlos Jasso</a>Bank of International Settlements head Agustin Carstens.</div></div></div><ul><li>The Bank of International Settlements on Sunday said bitcoin is "a poor substitute for the solid institutional backing of money."</li><li>Critics in the crypto world say the report missing the point - bitcoin and other cryptocurrencies are still in development and shouldn't be judged yet.</li><li>Circle CEO calls the report "shallow" and said: "They're not looking at what's actually going on in terms of the real R&amp;D in this space."</li></ul> LONDON - Who's right about bitcoin: the Bank of International Settlements (BIS) or cryptocurrency advocates?The BIS, which is often dubbed the central bank of central banks,<a href="https://www.bis.org/publ/arpdf/ar2018e5.pdf"> released a chapter from its upcoming annual report</a> on Sunday dismissing bitcoin as "a poor substitute for the solid institutional backing of money.""Trust can evaporate at any time because of the fragility of the decentralised consensus through which transactions are recorded," the report said. "Not only does this call into question the finality of individual payments, it also means that a cryptocurrency can simply stop functioning, resulting in a complete loss of value."Moreover, even if trust can be maintained, cryptocurrency technology comes with poor efficiency and vast energy use. Cryptocurrencies cannot scale with transaction demand, are prone to congestion and greatly fluctuate in value."Much was made of the energy usage point. Bloomberg ran a headline stating that <a href="https://www.bloomberg.com/news/articles/2018-06-17/bitcoin-could-break-the-internet-central-banks-overseer-says">bitcoin could "break the internet"</a> if used at a national scale.Energy usage is a serious issue for bitcoin, which requires ever greater levels of computing power to validate transactions on its network. Bitcoin mining currently uses about as much electricity as Switzerland, according to BIS.But crypto advocates say that this - and BIS's other criticisms of bitcoin and cryptocurrencies - misses the point.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">CircleCircle CEO Jeremy Allaire.</div></div></div>"It was a really shallow report," Jeremy Allaire, the CEO of Goldman Sachs-backed crypto company Circle, told Business Insider. "They haven't done much research at all clearly."They're looking back at stuff that's year's old, they're not looking at what's actually going on in terms of the real R&amp;D in this space. It's just really poor research."To bitcoin adherents, bitcoin and other cryptocurrencies are still a work in progress. Yes, its energy usage is an issue but it's one that developers are aware of any trying to solve.One blockchain professional I spoke to on Thursday compared the BIS report to saying the world would be in trouble if a baby was put in charge. Babies tend to grow up before they are given any responsibility and crypto developers are hard at work helping bitcoin and other digital currencies grow up."I don't think many people appreciate just how early stage this technology is," Jamie Burke, the founder and CEO of specialist bitcoin and blockchain VC fund Outlier Ventures, told the Blockchain Alternative Investment Conference in London on Monday.Something like 98% of bitcoin's original code base has been rewritten since it was first created in 2009 and developers around the world continue to work on new ideas, solutions, and technology.Allarie said: "I'm deep, deep in it and I'm a pretty technical person and I cannot keep up. There's so much. I'm not even close. There's just so much activity and so much innovation happening. I've never seen anything like it, it's just happening at such a pace."Matthew Newton, an analyst at eToro, which is a trading platform that supports cryptocurrencies, said: "Cryptocurrencies remain an emerging technology, albeit one that is moving towards the right infrastructure for everyday use."Newton and Allaire both pointed to the bitcoin Lightning Network and other so-called "Layer 2" projects that are built on top of existing cryptocurrencies and allow for greater volumes to be processed without sucking up huge amounts of energy but still ultimately rest on the underlying trust of the bitcoin blockchain.Allaire said: "There's a lot of infrastructure work going on and I think it's really, really key because I think the consensus within the industry is that if we can solve some of those issues in the next year to two years, then we can have products that are actually used by a billion people. That's when this gets to be a lot more interesting."Other solutions are being looked at include ethereum's proof of stake protocol, which would make transaction validation more like a shareholder voting register rather than simply about computational brute force.Newton said: "While it is far from guaranteed that these developers will troubleshoot all of the problems, the fact of the matter is that the work of these talented developers is coming on in leaps and bounds, and we have to be patient to see how things develop over time."<a href="http://www.businessinsider.com/intelligence/future-of-zelle-venmo-and-p2p-payments?IR=T&amp;utm_source=businessinsider&amp;utm_medium=ctgr&amp;utm_term=ctgr_leadgen&amp;utm_content=payments_ctgr_leadgen&amp;utm_campaign=payments_ctgr_leadgen_future-of-zelle"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/trump-pitches-peace-to-kim-jong-un-with-bizarre-hollywood-style-video-2018-6">Trump pitched peace to Kim Jong Un with this Hollywood-style video starring Kim as the leading man</a></h3> <div> </div> </div>

Central bankers claim bitcoin could break the internet - the crypto world thinks they're missing the point

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Uriel Sinai/Getty ImagesSick internet, coming through!</div></div></div>LONDON - The internet needs your help.That's the message being pushed by Mark Surman, executive director of the Mozilla Foundation, as the organisation launches the first version of a big new report into the health of the web."The last five years really started to erode some of the things that made the internet so great," Surman told Business Insider in a phone interview.Threats range from consolidation into near-monopoly control by big companies to hostile governments and censorship, he said - and he wants to raise awareness and encourage a mainstream movement to help tackle these issues."[It] impacts our economies, our societies, our democracies ... if we screw it up, we screw everything up, for a very long time," he said."Living in the digital age is not about go go away. We've unlocked something that will be with us for many centuries."<h2>'The last 5 years really started to erode some of the things made the internet so great'</h2>On Thursday, Mozilla launched its new internet health report - a document that attempts to gauge the relative health of the internet on a range of factors, from security to censorship, from openness to web literacy.This project is also part of a larger rebranding for the Mozilla Foundation, a non-profit organisation best known for building the Firefox web browser. After crowdfunding suggestions for a redesign, <a href="https://www.engadget.com/2017/01/18/mozilla-new-logo-wordmark/">it unveiled its new logo on Wednesday</a>."If we're being super simple," Surman said, "we built an amazing thing, one of the best human inventions ever, [that] unlocks a huge amount of human potential, creativity, and wealth ... [but] the last five years really started to erode some of the things that made the internet so great."There are also some highly positive aspects, the 47-year-old Canadian said - pointing to access to the internet across the world as continuing to improve.<h2>Consolidation is getting worse</h2><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Justin Sullivan/Getty ImagesFacebook CEO Mark Zuckerberg.</div></div></div>A key concern of Surman about the modern web is consolidation - the increasing way a few major players have monopolies or near-monopolies in their sectors. Think Facebook, Google, Amazon, and so on. This, he argues, cannot be a good thing.He stressed he's not against the commercialisation of the internet, per se - but against its centralisation in the hands of too few people. "Does the commercial growth fuel access, and fuel the benefits we get from the internet as human and individuals? Absolutely yes.""I think the commercialisation of human communication has been an enabler," and centralisation has some positive effects: "We can find each other, network effects, more people on the network."But, he continued, "in the case of instant messaging and social networks, there's less and less competition, whether that's through Facebook buying apps, Instagram and WhatsApp ... [it is] by far the dominant majority controller of instant messaging in the West.""You get that consolidation, and then there's no competition," he argues. "Consolidation takes away opportunity for entrepreneurship."<h2>So what?</h2>So what's the point of all this?"Our individual actions shape the health of the Internet ecosystem. Only by recognizing where the system is healthy can we take positive steps to make it stronger. Only by understanding where it's at risk can we avoid actions that weaken it," the report reads."This prototype - a snapshot of a moment in time in the life of the Internet - identifies five health markers that we believe are worth paying attention to and offers an initial prognosis for each."<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Shannon StapletonDonald Trump.</div></div></div>There are already plenty of organisations out there advocating for the issues - privacy, security, decentralisation, innovation, and so on - that the report discusses, like the Electronic Frontier Foundation (EFF), or Open Rights Group (ORG) in the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword>. But Surman draws a parallel between these efforts and the early environmental movement in the sixties and seventies.At the time, it was "not seen as a movement at all, people didn't think about it all." The Mozilla Foundation executive director hopes that the Internet Health report, and others like it, will help brings these issues "to the fore" in the public consciousness - something that's now more important than ever."We are seeing governments coming to power in North American and the European Union that have the wrong idea about the internet, that want to do things that will undermine security ... that will further encourage the consolidation of power in a few hands," Surman said."[It's] critical that people understand that the health of the internet is an issue."The first version of the report published on Thursday is being called "v0.1," with a fuller version planned for publication later in 2017. <a href="https://internethealthreport.org/v01/">You can check out v0.1 online here »</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/hidden-iphone-map-reveals-location-2017-1">There's a hidden map in your iPhone of everywhere you've been</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="h1ZzV4eDrFeMVarsiwx5YaP_PbbKypBn" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The open internet is under threat, says a new report - and it needs your help

<div class="KonaFilter image-container float_right"><div class="image">REUTERS/Jim Urquhart</div></div>How the crypto-currency could become the internet of money.
The father has been found in time for his child's funeral. That would appear to be the sorry state of affairs in the land of Bitcoin, a cypto-currency, if recent press coverage is to be believed. On March 6th Newsweek reported that it had tracked down Satoshi Nakamoto, Bitcoin's elusive creator.
And on March 11th Mt Gox, the Japanese online exchange that had long dominated the trade in the currency before losing $490m of customers' Bitcoins at today's prices, once more filed for bankruptcy protection, this time in America.
In reality, things are rather different. Evidence is mounting that Dorian Satoshi Nakamoto, whom Newsweek identified as Bitcoin's father, is not the relevant Satoshi. More importantly, Bitcoin's best days may still be ahead of it--if not as a fully fledged currency (see next story), then as a platform for financial innovation. Much as the internet is a foundation for digital services, the technology behind Bitcoin could support a revolution in the way people own and pay for things. Geeks of all sorts are getting excited--including a growing number of venture capitalists, who know a new platform when they see one.
To understand the enthusiasm in this modern currency, it helps to think about a very old one. Until the early 20th century the people on Yap, an island in the Pacific Ocean, used large stone disks (pictured) as money for big expenses, such as a daughter's dowry. Being very heavy, they were rarely moved when spent. Instead, they simply changed owners. Every transaction became part of an oral history of ownership, which allowed islanders to know the proprietor of each stone and made it difficult to spend the same stone twice.
Bitcoins also don't move around when they are transferred. They are best understood as entries in a giant ledger, the "blockchain", which contains the transaction history for every Bitcoin in circulation. It is kept up to date with the help of cryptography and copious computing power, provided by a global network of tens of thousands of computers. Again, openness helps the system remain secure: the blockchain is public so every participant can check whether a transfer comes from the rightful owner.
This set-up is the first workable solution to one of the more nagging problem of the digital realm: how to transfer something of value from one person to another without middlemen having to make sure that the item is not copied or, in the case of money, spent more than once? And Bitcoin does the trick while being open (unlike conventional payment mechanisms, which aim for security by shielding themselves from outsiders). This means that third parties can make use of Bitcoin's features without having to ask anyone for permission--as is the case with the internet.
Such "permissionless innovation", in the jargon, should in time result in a cornucopia of applications. Bitcoin's technology could be used to transfer ownership both in other currencies and of any kind of financial asset. This, in turn, would allow the creation of decentralised exchanges which let asset holders trade directly. And money could be "programmed" to come with conditions: for instance, it might be released only if a third person agrees.
Some want ownership of devices--a car, say--to be represented by a Bitcoin, or a tiny fraction of it. The car would work only when turned on with a key that includes the Bitcoin token. This would make managing ownership of and access to physical assets much easier: the token could be sold or rented out temporarily, enabling flexible peer-to-peer car-rental schemes. Such "smart property" would turn the blockchain into a global registry of ownership in physical assets.
All that may sound like science fiction, but a growing number of startups are working on bringing such applications to market. Coloured Coins and Mastercoin will soon release software that enables trade in other financial assets, including stocks and bonds. The most ambitious project is Ethereum: it will launch a new blockchain, similar but unrelated to Bitcoin, with a programming language to encode financial instruments and other contracts.
Although banks have mostly steered clear of Bitcoin as a currency, they too have started exploring how they could use the technology in other ways. They are unlikely to move fast, but there are plenty of possibilities. Global banks could, for instance, use Bitcoin-like systems to move money between subsidiaries. They could even issue their own crypto-currencies.
But turning Bitcoin into a platform comes with risks. Some geeks fret that the network will reach its maximum capacity of 300,000 transactions per day as new applications come online. Another worry is that as the blockchain, which has already trebled in size to 15 gigabytes over the past year (see chart), continues to grow, fewer of the network's participants will store it.
Yet if history is any guide, the blockchain will be fine. Two decades ago, when millions went online after the invention of the web browser, pundits predicted the internet's collapse. Technical fixes repeatedly saved the day. And even if Bitcoin were to break down, another similar system would most likely take its place.
Click <a href="https://subscriptions.economist.com/nwcd">here</a> to subscribe to The Economist.

How Bitcoin Could Become The Internet Of Money

Warning against the vulnerabilities of the high-speed 5G telecom network, papers submitted at a key security meet have noted that it can provide an excellent platform for middlemen and agents for creating linkages for crimes such as drug trafficking, human and organ trafficking, money laundering and terror financing. The papers, written by some Indian Police Service officers, were submitted at the just-concluded conference of director generals of police (DGPs) and inspector general of police (IGPs), attended by Prime Minister <keyword id="6354477" type="General" weightage="80" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>. The papers noted that the 5G network is built on easily accessible and open Internet protocols and it inherits all the vulnerabilities of previous generations which make it vulnerable to cyber-attacks and compromise the security of the entire system. The <keyword id="48959" type="General" weightage="80" keywordseo="ips" source="Orion">IPS</keyword> officers who wrote the papers suggested that a reserved 5G bandwidth and highly secured equipment should be developed proactively for sensitive government-related communications and for military usage and only approved and authenticated firms with the least cyber risk or with maximum safety protocols should be allowed to work in for the government agencies. "With cryptocurrencies and decentralised banking systems gaining further popularity using the real-time 5G networks, the linkages and financial trail will be challenging to trace. "The 5G can provide an excellent platform for the middlemen and agents for creating linkages for crimes like drug trafficking, human and organ trafficking, money laundering, terror financing, etc.," the papers said. Apart from the prime minister, the three-day annual conference was attended by Union Home Minister <keyword id="6355521" type="General" weightage="80" keywordseo="amit-shah" source="Orion">Amit Shah</keyword>, National Security Adviser <keyword id="115253" type="General" weightage="80" keywordseo="ajit-doval" source="Orion">Ajit Doval</keyword> and about 350 top police officers of the country last weekend. The 5G network core is built on easily accessible and open Internet protocols such as HTTP and Transport Layer Security (TLS). In a Network-Slicing environment, different sub-networks will have different natures of cyber security. Keys for radio interface encryption are delivered across unsecured routes. Vulnerabilities such as IDOR (Insecure Direct Object Reference) could arise. "The Telco cloud is vulnerable to cyber-attacks, which can compromise the security of the network and the data stored in the cloud," the papers said. Due to network function virtualisation (NFV), criminals can employ or execute attacks to access and even alter telephone numbers (target lists) to be monitored. There are several improvements in 5G that support such remote control functions like drones, robotic surgery, etc. but criminals can exploit this aspect too. Another issue in 5G is the operations of edge computing where processing is done at decentralised inter-communicating nodes close to the user network. This furthers the problem of data collection for security establishments as there is no central node through which data passes. The papers said the 5G can support millions of Artificial Intelligence (AI) based Internet of Things (<keyword id="12307304" type="General" weightage="80" keywordseo="iots" source="Orion">IoTs</keyword>) and devices per square kilometer thus resulting in a massive increase in attack surface for cybercriminals. Cyber crimes like mobile network mapping, distributed denial of service, draining battery, service degradation, mobile IMSI capture, malware injection, CnC creation, intercepting communication, DNS spoofing, uplink, and downlink impersonations, etc. may be easier to carry out, the papers said. "During the initial transition phase, future 5G networks will inherit all the vulnerabilities of previous generations." There is a chance that end-to-end encryption (E2ER) will be included in the standard during the upcoming standardisation process, which is a challenge for law enforcement agencies. The IPS officers wrote that the 5G equipment manufacturers would try to sell the valuable data to the marketers for targeted advertising and this should be monitored to make sure it doesn't fall into the wrong hands. Holistic cyber security is the only solution to this new 5 G-created ecosystem. Starting from core devices to network layers IoTs and user's mobile or appliances, everything should be seen as a potential attack point. Suggesting safeguards, the IPS officers noted that consumer education on IoT security is necessary and equipment should be purchased from trusted sources and not from suspicious sources like China. "The mobile operators need to adopt a hybrid cloud-based approach where sensitive data is stored locally and less sensitive data stored in the cloud. There is a need for network operators to be alert to the need for resilience of their infrastructure to power outages, natural disasters, misconfiguration etc.," the papers said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/maruti-suzukis-q3-net-profit-zooms-133-to-2351-crore-on-lower-input-costs/articleshow/97275909.cms">Maruti Suzuki’s Q3 net profit zooms 133% to ₹2,351 crore on lower input costs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/playstation-5-pro-with-a-new-chipset-and-liquid-cooling-is-expected-to-launch-in-april-2023/articleshow/97275905.cms">PlayStation 5 Pro with a new chipset and liquid cooling is expected to launch in April 2023</a>

5G network can be misused for drug trafficking, money laundering, terror financing: Papers submitted at DGPs' meet

<ul><li>The <keyword id="2810876" type="General" weightage="20" keywordseo="ethereum" source="Orion">Ethereum</keyword> Foundation and Ethereum Name Service are looking to offer users an alternative to <keyword id="6355629" type="General" weightage="20" keywordseo="google" source="Orion">Google</keyword>, <keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> and <keyword id="6354576" type="General" weightage="20" keywordseo="facebook" source="Orion">Facebook</keyword> as a common sign-in method across the web.</li><li>Two of the most important bodies backing the development of the Ethereum ecosystem have shortlisted Spruce Software to build the new ‘decentralised’ system.</li><li>Systems that use Ethereum wallets for identification aren’t unknown and are used on NFT platforms often.</li></ul>Trusting tech giants Google and Facebook with personal information has become risky business with cases of user data being left vulnerable increasing with time — the most glaring example being the Cambridge Analytica scandal. However, doing without them is not an option for most people in their day-to-day lives. As an alternative, the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">Ethereum</a> Foundation (EF) and the Ethereum Name Service (ENS) — two of the most important bodies fueling the development of the Ethereum blockchain — are looking to develop a ‘decentralised’ solution. Rather than using Google, Facebook or Apple accounts to sign into other services, they want to offer a ‘sign in with Ethereum’ alternative. <div type="ExtQuote" text="The Ethereum ecosystem already has tens of millions of monthly active wallet users signing with their cryptographic keys for financial transactions, community governance, and more." auname="Statement by Spruce"></div> Simply put, giving information to tech giants and then using those same accounts for other apps is ‘centralised’. While it allows users to avoid passwords and provides a level of security, it also hands over data on their Internet activity to these firms. Ethereum, on the other hand, does not. It isn’t controlled by a for-profit organization, meaning there’s no one to profit from your data, at least on paper. The foundation had put forth a request for proposals for creating a ‘sign-in with Ethereum’ system recently and a proposal from identity software firm Spruce has come out as the winning idea. <div type="ExtQuote" text="The security of these [Ethereum] wallets has been proven across billions of dollars of digital assets at stake — not theoretical security, but real tests in production. These secure wallets can also be used to sign in to Web2 services." auname="Statement by Spruce"></div> <cmsannotation type="cmsannotation" annotationid="How will ‘sign with Ethereum’ work?" comment="subhead" text="How will ‘sign with Ethereum’ work?">How will ‘sign with Ethereum’ work?</cmsannotation> According to Spruce’s announcement, the company will work with ENS and EF closely to ensure that signing in with <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">Ethereum</a> is compatible with current standards in the industry. “We will be working closely with the teams at EF and ENS, ensuring that development will happen in the open, ample consideration is given to existing bodies of related work (existing implementations, EIPs, OpenID, IETF, W3C, etc.), and that the final result will be friendly to implementers while remaining vendor-neutral,” the company said. To be clear, Spruce isn’t really starting from scratch. The company noted that services like OpenSea and Gitcoin already allow users to sign in with their Ethereum wallets instead of using other accounts. The company’s system will look to ‘standardize’ this system across the web. The company is also inviting the Ethereum community to join in on the discussions around this system. It has created a server on chat platform <a href="https://discord.com/invite/WjvuYqvm5Y">Discord</a> and will be taking feedback using the same. The system also brings one of the core benefits of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">blockchains</a> and Web 3.0 applications to the internet — that of building decentralized systems across the web. By using an Ethereum wallet to confirm one’s identity, the system theoretically takes away that power from a government or large organization, which has been a central promise of public blockchain systems from day one. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cardano-founder-charles-hoskinson-says-the-crypto-world-needs-that-wi-fi-moment-where-users-can-work-with-any-blockchain-seamlessly-more-than-it-needs-a-dominant-network/articleshow/86193591.cms">Cardano founder Charles Hoskinson says the crypto world needs 'that wi-fi moment' - where users can work with any blockchain seamlessly - more than it needs a dominant network</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/3-companies-will-pay-a-total-of-539-million-to-settle-with-the-sec-over-charges-of-illegal-stock-and-digital-asset-offerings/articleshow/86178429.cms">3 companies will pay a total of $539 million to settle with the SEC over charges of illegal stock and digital-asset offerings</a> <cmsannotation type="cmsannotation" annotationid="How will ‘sign with Ethereum’ work?" comment="subhead" text="How will ‘sign with Ethereum’ work?"> </cmsannotation>

Google, Apple and Facebook move aside — Ethereum will offer users control over their data with a new sign-in method

<ul><li>Polygon has announced a new dedicated unit called Polygon Studios to focus on the fast-growing gaming and <keyword id="4668945" type="PERSON" weightage="20" keywordseo="nft">NFT</keyword> ecosystem.</li><li>The new entity will present support and infrastructure for <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">blockchain </a>game builders to attract artists and investors to its NFT ecosystem.</li><li>Building a brand is essential as the concept has the potential to be a Steam-like disruptor in the industry.</li></ul>The popular <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">Ethereum </a>scaling solution Polygon has announced a new dedicated unit called Polygon Studios to focus on the fast-growing gaming and non-fungible token (NFT) ecosystem. It <a href="https://cointelegraph.com/news/polygon-launches-blockchain-gaming-and-nft-studio">said </a>the new company would help "bridge the gap between Web 2 and Web 3 gaming." <div type="twitter" handle="_PolygonStudios" handlename="Polygon Studios" image="http://pbs.twimg.com/profile_images/1417036075470450688/X9mWbPjU_normal.jpg" favoritecount="822" retweetcount="243" status="1/ 🔥 Presenting Polygon Studios: @0xPolygon's brand new arm for Blockchain Gaming &amp; NFT ecosystem. This will cement… https://t.co/PT1lBaNdZV" createdat="1626721959000" id="1417200733703720991"></div> Web 1 is generally considered to be the initial era of the internet when websites were static and the functionality was limited. Web 2 is said to be the current scenario consisting of social networks, cloud computing, and streaming. Web 3 is the next proposed era, where processes and transactions are decentralised, artificial intelligence is at the core, and the internet is built around semantic markup. The segment is still in its nascent stages, and there's a lot of future potential for game makers, artists, streamers, and more — making it a lucrative sector that's yet to be entirely explored. Recently, Axie Infinity, an NFT-based game <a href="https://www.digitalmarketnews.com/axie-infinity-creating-in-the-metaverse/">raked </a>in over $30 million, just in a span of a week. Building a brand, like ‘Polygon Studios’ is essential as the concept has the potential to be a Steam-like disruptor in the industry. The studio is divided into two distinct divisions — Polygon Gaming Studio and Polygon NFT Studio. <cmsannotation type="cmsannotation" annotationid="What is Polygon’s plan for NFTs?" comment="subhead" text="What is Polygon’s plan for NFTs?">What is Polygon’s plan for NFTs?</cmsannotation> Polygon’s new entity will support and provide infrastructure for <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">blockchain</a> game builders to attract artists and investors to its NFT ecosystem. To be precise, it includes releasing SDKs for developers, investing in smaller companies, marketing the platform as an accelerator, and technological support. "With the launch of Polygon Studios, games get 360-degree building support, big brands and much-loved franchises can launch on Polygon, and gamers can enjoy a whole new world of play to earn opportunities and decentralised gaming,” the company said. <cmsannotation type="cmsannotation" annotationid="Polygon wants to process transactions faster than Ethereum — and do it cheaper" comment="subhead" text="Polygon wants to process transactions faster than Ethereum — and do it cheaper">Polygon wants to process transactions faster than Ethereum — and do it cheaper</cmsannotation> Polygon claims to currently host more than 100,000 gamers and over 500 decentralised apps. Aavegotchi, an NFT trading game, <a href="https://aavegotchi.medium.com/the-first-nft-wallet-on-polygon-is-aavegotchi-b24cac01a1d9">announced </a>that the project wouldn't be hosted on the Ethereum main net due to high gas fees in January 2021. Just like one pays a wire or processing fee when transferring money online, a gas fee must be paid to execute a smart contract on Ethereum <keyword id="6355684" type="PERSON" weightage="20" keywordseo="Blockchain">blockchain</keyword>. The game chose Polygon instead — creating a precedent and then further <a href="https://twitter.com/0xpolygon/status/1308341856699211776?lang=en">attracting</a> other games like ZED RUN and SkyWeaver. Using examples like this, Polygon is leveraging its position as an expert in scaling. This means that it wants to stand apart from the crowd by processing far more transactions per second than Ethereum, and that too at a fraction of the cost. <cmsannotation type="cmsannotation" annotationid="Polygon’s origin story" comment="subhead" text="Polygon’s origin story">Polygon’s origin story</cmsannotation> The India-based <keyword id="6357017" type="DEFINITION" weightage="20" keywordseo="cryptocurrency">cryptocurrency</keyword> was founded in 2017 with a mission to improve the scalability of the Ethereum blockchain. Back then, it was called Matic and has since come a long way in terms of progress and adoption. For instance, billionaire investor Mark Cuban has a stake in Polygon now. "Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development,” he <a href="https://www.businessinsider.in/cryptocurrency/news/mark-cuban-adds-ethereum-based-crypto-platform-polygon-to-his-investment-portfolio/articleshow/82973298.cms">said</a>. According to <a href="https://coinmarketcap.com/">Coinmarketcap</a>, Polygon ranks among the top 20 biggest cryptos globally by market capitalisation. The Ethereum network has been <a href="https://www.reuters.com/technology/cryptocurrency-ethereum-is-flourishing-risks-linger-2021-05-07/">plagued with issues</a> that lead to high transaction fees and slow execution of transactions. While <a href="https://www.businessinsider.in/cryptocurrency/news/heres-how-ethereum-2-0-cryptocurrency-promises-to-be-green-scalable-and-far-more-efficient/articleshow/83003150.cms?fbclid=IwAR2OvcGsW4Kqkj3diI7N1wK_W-u8I9g0g_QecXE7zUbinXPnCp0UNsRc0hI">Ethereum 2.0</a> promises to incorporate improvements, Polygon is ebbing away at its thunder. It can use its resources to host games and NFTs — two dynamic and high-potential fields that can be amalgamated. With the move from Web 2 to Web 3 is just around the corner, Polygon is eyeing to be the go-to brand that assists in the transition. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things <keyword id="2721952" type="PERSON" weightage="20" keywordseo="crypto">crypto</keyword>, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/turkey-to-introduce-crypto-bill-in-parliament-this-october/articleshow/84581900.cms">Turkey is ready to regulate crypto, and it could it more expensive for crypto companies to operate</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/nso-groups-pegasus-can-hack-into-any-phone-it-wants-without-your-knowledge/articleshow/84582035.cms">NSO Group’s Pegasus can hack into any phone it wants without your knowledge — and there’s nothing you can do to stop it</a>

India’s Polygon is betting big on gaming and NFTs — so much so that it’s created a whole department for it

<ul class="summary-list"><li>Britain's Royal Mint will create a non-fungible token to be issued this summer, the government said on Monday.</li><li>Finance Minister <keyword id="12981896" type="UNKNOWN" weightage="60" keywordseo="rishi-sunak" source="Orion">Rishi Sunak</keyword> asked the Royal Mint to develop the <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword>, the <keyword id="13544068" type="UNKNOWN" weightage="60" keywordseo="uk-treasury" source="Orion">UK Treasury</keyword> said on Monday.</li></ul>Britain's Royal Mint will create a non-fungible token to be issued this summer, the Treasury department <a href="https://twitter.com/hmtreasury/status/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cityam.com%2Fuk-treasury-set-to-launch-nfts-later-this-year%2F">announced</a> on Monday. Finance Minister Rishi Sunak asked the mint to start developing the token."This decision shows the the forward-looking approach we are determined to take towards cryptoassets in the UK," <keyword id="13544069" type="UNKNOWN" weightage="60" keywordseo="hm-treasury" source="Orion">HM Treasury</keyword> <a href="https://twitter.com/hmtreasury/status/1510971092072079360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1510971092072079360%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cityam.com%2Fuk-treasury-set-to-launch-nfts-later-this-year%2F">tweeted.</a><a href="https://www.businessinsider.com/non-fungible-tokens-nfts-have-taken-over-heres-why-theyre-important-2021-4?r=US&amp;IR=T">NFTs</a> are unique digital assets stored on blockchain technology. They can represent real-life items, like an audio or video clip, a piece of art, a virtual piece of land or virtual luxury item. They are much like a digital collector's item.On Monday, economic secretary to the Treasury John Glen, said in a <a href="https://www.gov.uk/government/speeches/keynote-speech-by-john-glen-economic-secretary-to-the-treasury-at-the-innovate-finance-global-summit">speech</a> that there is still a lot of division over whether <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> could revolutionize the financial system, or just offers more scope for fraud and financing of illegal activity. Either way, he said, Britain intends to establish itself as a hub for crypto technology."If crypto-technologies are going to be a big part of the future, then we – the UK – want to be in, and in on the ground floor," he said."It's a challenge… and it's an opportunity… and today I want to tell you how here in the UK we're going to respond," he said. "Because we want this country to be a global hub - the very best place in the world to start and scale crypto-companies. If there is one message I want you to leave here today with, it is that the UK is open for business - open for crypto businesses," he said.Glen said crypto will be a big part of the future of finance and technology, including offering opportunities in the next iteration of internet, blockchain and NFTs themselves. Glen gave no more detail on the proposed NFT from the Royal Mint, which not only produces all of the UK's coins, but also those of around <a href="https://www.royalmint.com/faqs/the-royal-mint/what-is-the-royal-mint/#:~:text=The%20Royal%20Mint%20is%20one,the%20world's%20leading%20export%20mint.">60 other countries</a>. Glen said the government is working with digital regulators to understand the issues that would need to be considered to allow <keyword id="12461337" type="UNKNOWN" weightage="60" keywordseo="web3" source="Orion">Web3</keyword> to provide the maximum benefit for the public."No-one knows for sure yet how Web3 is going to look. But there's every chance that blockchain is going to be integral to its development… with a more decentralised, open and user-owned ecosystem," he said.

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