The Ritelist
Posts
Big Rishi gives double 👍👍 thumbs up to web3

Big Rishi gives double 👍👍 thumbs up to web3

Nahin Talhah
June 19, 2023

🧑‍⚖️SEC Sues Coinbase … a16z Hits London … And Blankos Block[chain] Party 🎮

What’s up Web3-ers.

In today’s issue, we’re diving into:

Another US government crackdown on supposedly ‘unregistered’ Crypto exchange.
PM praises crypto-friendly VC firm’s move to the big smoke, and gives a double thumbs up to web3.
Amazon Prime and Epic Games team up to advance the use of NFTs in the gaming industry.

SUCCESS PRINCIPLE LESSONS #102

This week we're exploring the principle of ownership.

A lot of people ‘crushing it’ in business right now, don’t really own their business. That might seem like a funny thing to say, but think about it - They’re playing on other people’s platforms.

So all those Insta celebs we follow, or the TikTok stars, the YouTubers with millions of followers … they don’t really ‘own’ their followings, because they could be shut down overnight.

In the same way, you’ve probably heard about creators being demonetised, and even people having PayPal or bank accounts shut down, because they annoyed the wrong person, or said the wrong thing.

Obviously, these cases are few and far between. But they still happen. And it goes to show one thing - It’s very tough to have full ownership of your digital assets in a web2 world.

Ownership in Web3

As you’ll know if you read these emails, web3 stands to change all that. Blockchain technology allows people all over the world to have true ownership over their digital assets through digital wallets and NFT’s. And, without going down too much of a conspiracy theory rabbit hole, decentralisation means it’s going to be a lot harder for ‘the powers that be’ to shut anyone down or restrict their access to finances, if they step outta line.

And now, on with this week’s news …

ROSTER ROUNDUP

What’s been going on with us? That’s kind of you to ask …

We headed to Elevate, the UK’s largest physical activity trade show on the 14th and 15th of June. We spoke about why burpees should be banned, and how kale isn’t real food the role of web3 in the ever-expanding world of health and fitness, to an eager crowd at London’s Excel.
The Roster Mini MBA in Web3 is deep in development, and presenters from all over are now finalising the syllabus with our team. We can’t wait to unleash this, and for the first group of cohorts to see just how immersive we’ve made everything.

(Note: If you’re as eager for the Web3 Mini MBA launch as we are -- and why wouldn’t you be? -- you can get advanced notifications and updates here.)

SEC SUES COINBASE

Coinbase, the largest American crypto exchange, is being sued by the SEC. (US Securities and Exchange Commission.)

This might sound a bit like deja vu, after the SEC also went after Binance for similar charges. But the long and the short of it is, Coinbase is accused of facilitating unlawful buying and selling of crypto asset securities, without proper registration.

Word on the street is, this could make for a rocky period in the world of crypto. Especially with altcoins, as these have taken the largest hit since the news.

The one positive to come from this though? It seems the crypto community has united strongly once again. Constant attacks from US legislators, along with the frequent doom and gloom narrative portrayed by the mainstream media has helped web3-ers worldwide unite. Plus, let’s be real here - We’ve faced far worse news and greater challenges in the past, so this is very likely a minor blip on the timeline.

A16z HITS LONDON

Silicon Valley-based venture capital firm a16z is expanding internationally, by setting up new offices in jolly old London Town.

This is yet another boost in the UK’s quest to become a web3 hub. And actually, when combined with the above news about the SEC, it’s not actually been too bad a week for British blockchain advocates.

Chris Dixon, founder and managing director of a16z crypto fund said -"We're thrilled to open our first international office in a jurisdiction that welcomes blockchain technology and is committed to creating a predictable business environment by pursuing regulations that both embrace Web3 and protect consumers."

The move follows months of talks with UK financial bigwigs and top dog himself, Rishi Sunak, who released a statement saying -

“As we cement the UK’s place as a science and tech superpower, we must embrace new innovations like Web3, powered by blockchain technology, which will enable start-ups to flourish here and grow the economy.”

BLANKOS BLOCK[CHAIN] PARTY

Amazon Prime Gaming and Blankos Block Party have partnered up to release exclusive NFTs.

Blankos Block Party is a free-to-play, online multiplayer party game native to the blockchain, which already gained over 1,000,000 users prior to its launch.

Anyone who wants to be eligible for the NFTs needs to firstly be an Amazon Prime member, then link their Amazon and Blankos accounts, before browsing and claiming rewards.

The exclusive bundles give access to extra Blankos characters, accessories, and in-game items.

L L

This is just one of many NFT and blockchain integrations with popular games in recent weeks, and it only signifies the potential for NFTs to become a mainstream asset class and acts as a step towards NFT adoption.

☎️ READER REQUESTS

Every week we pick one lucky reader’s question and give you a full rundown here. Today’s request is from Chris:

“Can you help me out - What are smart contracts and what are the benefits?”

Of course, dear reader … 

Think of a football match, where a referee ensures all players stick to the rules. Now, imagine a super-referee, who never misses a foul, always spots offside, and isn't swayed by the home crowd. They don’t miss a BEAT.

That's what smart contracts are in the world of digital transactions. They ensure every move in the agreement is by the 'rules' coded into them. If Player A scores a goal (fulfills a condition), then Player B has to concede (the action is executed).

And the beauty of smart contracts? Our super-referee never makes mistakes, doesn't play favourites, and can't be bribed. It's always fair play, ensuring a smooth, efficient, and trustworthy game every time. How's that for a level playing field?

THAT’S A RITELIST (W)RAP …

We always love hearing from our readers …

So if you want to reach out with a question, comment, or a suggestion for the best gluten-free baked goods, or what to watch on Netflix (nothing too scary though please,) just hit reply to this email, and we’ll get right back to you.

Alternatively, if you want to be kept up-to-speed on the developments of our upcoming Web3 MBA course, just go here and register your details.

Until next time…