Ethereum Founder on How Facebook Can Do Crypto Right
Facebook could use blockchain technology to overhaul its business model, giving users more control over how their data is used, said Joseph Lubin, the founder of the crypto platform Ethereum.
Using a decentralized ledger would allow Facebook users to “store their own personal data in encrypted form” and decide which companies have access to their information, Lubin said. Giving users more control over their information could increase the quality of Facebook's data.
“If you know that this data is protected well, you can put it on data markets and Facebook can potentially participate in those sorts of data markets,” Lubin said Monday in an interview with Cheddar.
A new Ethereum-based system, uPort, is already providing this service. Users can store all of their data in a secure "wallet" that can be used to log in to other apps and make digital transactions.
Last week, Cheddar [reported](https://cheddar.com/videos/facebook-plans-to-create-its-own-cryptocurrency) that Facebook may be building its own cryptocurrency, part of the social media company's exploration of how to use blockchain technology.
For the full interview, [click here](https://cheddar.com/videos/ethereum-co-founder-joseph-lubin-2).
Rene Ritchie, independent tech analyst and co-founder of the Nebula Podcast, joins Cheddar News' Closing Bell, where he breaks down what investors will be looking for from Mark Zuckerberg this week and how the tech giants stack up when it comes to augmented reality and virtual reality products going forward.
According to multiple reports, President Biden's upcoming executive order for the crypto marke would assign some government entities to study cryptocurrencies, stablecoins and NFT's with the goal of developing a workable regulatory framework. Douglas Borthwick, Chief Business Officer at INX, joins Cheddar News' Closing Bell, where he elaborates on what role the Biden administration would play under this order.
Nutritional supplement beverage company Athletic Greens has achieved unicorn status. The company announced a new $115 million funding round, bringing its valuation to $1.2 billion. The company's flagship product AG1 combines 75 different vitamins, minerals, and other nutrients into one daily serving. Athletic Greens says it is poised to reach the millions of consumers who are currently driving the health and wellness market's exponential growth. Athletic Greens founder and CEO Chris Ashenden joins Cheddar News' Closing Bell to discuss.
Is Spotify a platform for content creators, or is it a media company? The streaming giant may have to find an answer sooner rather than later amid a controversy involving its most popular podcast host, Joe Rogan. Rogan has hosted guests who have made false claims about COVID-19 vaccines, and in turn, some musicians like Neil Young and Joni Mitchell have removed their discographies from Spotify in protest. Rogan says he welcomes content advisories, and will balance out his guests going forward, but is it enough? And is Spotify liable in any way? John Freeman, Vice President of CFRA Research, joins Closing Bell to discuss Rogan's response to the controversy, whether Spotify should be considered a media company with responsibility for its content, and more.
The gaming industry has seen multiple large scales deals this month alone, including Microsoft's megadeal for Activision Blizzard. And, seemingly in response, rival Sony, picked up Bungie for $3.6 billion, a studio once owned by both Microsoft and Activision. The sector is reportedly on track to spend $150 billion on mergers and acquisitions just this year alone, a record-breaking total, according to investment firm Drake Star Partners. Michael Metzger, a partner at the firm specializing in technology, media, and communications, joined Cheddar to discuss the flurry of deals in the gaming space and what might be behind the hot M&A activity.
Ari Redbord, head of legal and government affairs and TRM Labs, joins Cheddar News to discuss why Facebook is ditching its crypto project and what that means for the space.
A virtual gathering in the online space, Decentraland, of Elvis Presley impersonators is looking to grab the Guinness World Record for most Elvis impersonators in one place after the record-keeping org recently approved the use of avatars as stand-ins for people.
