#Web3 Weekly: Nov. 29–Dec. 5, 2020

Ethereum 2.0 launches, bitcoin hits a new all-time high, controversy on Google’s AI team, and more

Re-sharing below the latest edition of #Web3 Weekly, my regular newsletter about decentralization. If you’d like to get it in your inbox every Sunday, subscribe here.

• The first phase of Ethereum 2.0 went live. Called the Beacon Chain, the new proof-of-stake system launched on Tuesday as expected. The upgrade marks the biggest technical evolution of Ethereum as a platform for blockchain applications since its initial launch in 2015. (CoinDesk) Link: https://tinyurl.com/y5oatwf5
• Bitcoin broke through to a new all-time high, driven by accelerating mainstream adoption. The popular cryptocurrency hit a new record just shy of $20,000 Monday, surpassing its previous peak set in 2017. (Link: https://tinyurl.com/y5gaw3h5) Among the latest positives: Mizuho Securities issued a report estimating almost one-fifth of PayPal users have bought bitcoin using PayPal’s recently launched crypto features. (Link: https://tinyurl.com/y2zb5mo6) S&P Dow Jones Indices is planning a new crypto index that could help pro money managers incorporate the token into their clients’ portfolios. (Link: https://tinyurl.com/yxa6629n) And billionaire hedge fund manager Paul Tudor Jones, who recently announced he’s been buying bitcoin, expanded on his remarks in a new interview with Yahoo Finance. Despite the new all-time high, Jones said that bitcoin still has “the wrong price for the possibilities that it has. And I’m going to assume that the path forward from here is north.” Link: https://tinyurl.com/y46s8vbw
• Google fired a prominent artificial intelligence researcher, setting off twin controversies around tech ethics and corporate diversity. Timnit Gebru, one of the few Black women among Google’s workforce, says the company asked her to either retract or remove her name from a research paper she had co-authored discussing ethical issues raised by recent advances in AI technology that works with language. The topic is a particularly fraught one for Google, which has a multibillion-dollar business based largely on text-based search. (Wired) Link: https://tinyurl.com/y3gboygh
• Credit-card giant Visa announced it is connecting its global network of 60 million merchants to the U.S. Dollar Coin. The move should give users increased capability to make dollar-denominated payments via blockchain. USDC, an ethereum-based stablecoin developed by Circle Internet Financial, now has a market capitalization of almost $3 billion. Link: https://tinyurl.com/y4wszoom
• The Libra Association re-branded itself as the Diem Association. The Facebook-led consortium announced the change in conjunction with the hiring of several new executives. The new name is supposed to signify “a new day” for the project, which is looking forward to launching its own stablecoin token. Link: https://tinyurl.com/y2fco4yu
• A trove of cryptoassets worth more than $4.2 billion has been seized by Chinese police as part of the massive PlusToken Ponzi scheme crackdown, according to a new court ruling. (The Block) Link: https://tinyurl.com/y5egpkgo
• The American Civil Liberties Union is suing several U.S. law enforcement agencies over their purchase of consumer mobile data in lieu of obtaining warrants. Link: https://tinyurl.com/y6zfd8n5
• Salesforce bought Slack for $27.7 billion, the biggest acquisition of the year in tech. As a result of the deal, Salesforce can add some nifty messaging functionality to its existing platform, while Slack will gain improved access to large enterprise clients. (Computerworld) Link: https://tinyurl.com/yxkoupky
• Warner Brothers said it will release its entire 2021 slate of films on its HBO Max streaming service the same day they hit theaters. The move underscores the long-term effects of the coronavirus pandemic on the global economy, including wider adoption of internet tools as an alternative to in-person interactions. (IGN) Link: https://bit.ly/2I6ukcj
• Nasdaq filed a proposal with the U.S. Securities and Exchange Commission to require diversity on corporate boards. Under the exchange’s proposed new rules, companies listed there would need to have at least one woman and one person of color on their board, or else face penalties. Link: http://spr.ly/6010HKcvk

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