Wojciech Gryc shares an article that explains how to bring assets onto blockchain from both a legal and logistical perspective.
Most of the excitement in crypto today focuses on digital assets: governance tokens, community memberships, NFTs, and more. There’s an incredible amount of innovation here… But how do we bring physical assets onto blockchains?1
Bringing assets onto crypto and fractionalizing them is still a new territory, both legally and from a logistics perspective. We’ll discuss how this is done, but let’s begin with a few examples of what this looks like:
FTX lets you buy tokenized stocks; crypto assets that are tied directly to individual stocks, as well as some of their underlying rights, like dividend distributions.
Klima DAO and Toucan enable you to buy and trade tons of CO2 that have been successfully removed from the environment.
You can buy 2000 lbs of tungsten on OpenSea.
ConstitutionDAO is looking to buy the only privately-owned copy of the US constitution and have members of its DAO fractionally own it.
Bacon Coin enables you to buy coins that are staked to mortgages and houses.
The examples above illustrate just how versatile coins representing real-world assets could be. Whether you’re trading carbon credits, art, or houses, you can do so in a fractionalized manner… This can create completely new asset classes and ways of bartering and exchanging value2.
How does this work?
Building a coin that tracks or is pegged to a specific real-world asset comes with challenges. In most cases, such an asset still needs a centralized authority or owner to monitor and track the underlying asset.
This can be done in two ways: (1) have the team managing the coin tie the asset to the coin itself, or (2) have an external party manage this staking and connection to the coin. For example, Bacon Coin directly manages the mortgage contracts and their tokenization to bHome. The same is true for the ~2000 lbs of tungsten you can buy. On the other hand, FTX and ConstitutionDAO both use (or plan to use, in the latter case) a third-party organization who manages the stocks and assets on behalf of coin holders.
This management of the asset begs the question: do we need an oracle-like entity to merge real-world assets into crypto space? In short: yes.
Key points include:
- How it works
- The Kilma case study
- The real-world opportunity of crypto
Read the full article, Putting Real-World Assets on Crypto, on 10MillionSteps.com.
Wojciech Gryc shares a post that explores a strategy, Salesforce, Slack, and the future of work.
If you judge Salesforce based on its best-known product lines, you’re likely to underestimate the business and its level of creativity. Between its Slack acquisition, its latest streaming content announcement, and its rivalry with Microsoft, the company is executing on its plan to hit $50B in annual recurring revenue – and could transform the way we all work in the process.
What would be different and new in a Salesforce- and Slack-powered business world?
In the last few months, we’ve spoken with business leaders who have moved their entire internal business operations off of email and onto Slack. We’re now seeing others shift sales conversations and customer meetings to the chat platform as well.
This aligns with our thesis that the future of business will be facilitated by community-driven chat.
Here’s our analysis of the future of work from the perspective of Salesforce:
Business operations according to Salesforce: records, intelligence, and engagement
Records + intelligence + engagement = a new business environment
The future is “swarming”
The Salesforce bet on the future of work
Will businesses adapt to Salesforce’s vision?
Key points include:
- Business operations according to Salesforce: records, intelligence, and engagement
- Records + intelligence + engagement = a new business environment
- The Salesforce bet on the future of work
Read the full article, Marc Benioff’s grand strategy: Salesforce, Slack, and the future of work, on PhaseCRM.com.
Wojciech Gryc shares a post on how GPT-3 impacts the user experience.
A great deal has been written about GPT-3 and its potential impact and hype on AI, machine learning, and data science. This post aims to look at the user experience around GPT-3 instead. Specifically, why do some people see GPT-3 as a magical innovation? What does this tell us about AI-driven products we don’t fully understand?
I’ve been exploring GPT-3 for the past few weeks and have been incredibly impressed with its ability to take my natural language prompts and generate helpful responses. More importantly, I’ve organized a few demo events and discussions about GPT-3 and have seen people play and interact with it.
The GPT-3 Click
When a user first logs into the GPT-3 Playground (i.e., demo interface), they are met with an empty text box and several modeling options. You’re expected to write, to chat, or input some text–what you say or do is up to you. It can be overwhelming in its simplicity.
There are sample text prompts to show you how to generate a Q&A session, or an English/French translation, or a story… What is critical, however, is that the entire interface is a text box–as the user, you simply provide text (i.e., the prompt) and ask GPT-3 to do the rest.
Key points include:
- New User habits
- Lessons for AI-driven Products
- Play and forgiveness, speed and scalability
Read the full article, User Experience and AI: the GPT-3 ‘click’, on 10MillionSteps.com.