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ETHDenver

ETHDenver is a Community-Owned Innovation Festival gathering like-minds around a common purpose: Empowering the Web3 community to shape this new world while cementing the Rocky Mountain region and the state of Colorado as a thriving hub of Ethereum and blockchain innovation.

 

Kelvin Fichter (Benevolent Chaos Monkey and The Optimism Collective), Kames Geraghty (District Labs), Masha Healy
(Co-Founder / Grants Lead, and Impact Cards / Celo Foundation), Evin McMullen (CEO & Co-Founder Disco.xyz )

We used to live in a world where the only input to an individual’s reputation and identity was their word. After all, “A man is only as good as his word.”

Now we face the opposite problem: too many inputs from too many unverified sources. It’s less about your word and whatever words an algorithm places on top of a search field.

At its core, Web3 can take promises made with words and verify them with actions, putting your wallet address where your mouth is. But how should this information be visualized? How do we unify a user’s identity, protect their privacy, and verify sources contributing to this identity? How do we take work out of silos and collaborate? What does reputation look like in this new ecosystem?

Disco is creating data backpacks for off-chain credentials. Optimism has started widely adopting on-chain NFT quests, and impact cards are measuring impact on and off-chain, and so on. As more projects try to represent the multifaceted actions and build the Web3 persona, let’s ask some tough questions about what this should look like, existing projects philosophies on web3 identity, and, more importantly, where should this information live on-chain, off-chain, and both?

EthDenver attendees are the stewards of identity and reputation now and what it will look like in the future. The ideas shared in this panel will spread into the work that builders are doing and become a point of consideration for users. How will this project contribute to building the Web3 persona, how do you want to be represented in Web3, and do you agree with this approach? An individual chooses their words and their actions, but it’s up to us to find a way for them to relay this to the broader Web3 ecosystem accurately. “

 

Jasper Driessens (Co-founder, Glo Foundation)

• 650 million people live in extreme poverty. Basic income programs can fix this, but require money.
• Money now comes from donations, but there’s not enough donations in the world.
• Introducing Glo, a new stablecoin that helps end extreme poverty by redirecting 100% of revenue to basic income programs.
• Extreme poverty is the worst kind of poverty and is defined as living with under $2.15/day.

650 million people currently live in extreme poverty. The good news is there is a relatively simple solution: giving them basic incomes. This has been done on small scales and generally works well. The bad news is that to give everyone in extreme poverty a basic income, we’d need ~$311 billion per year. Currently, these basic incomes are funded by charitable donations. But that won’t cut it: total overseas giving, private and public, from all countries combined is $243 billion per year. So even if 100% of that were directed to basic incomes (highly unlikely), it’s not enough.

Can we find other sources of money to lift people out of extreme poverty?

Can we fund basic incomes without depending on donations?

Introducing Glo (USDGLO), the stablecoin that reduces extreme poverty. Exactly like other stablecoins we invest our assets under management in US Government Bonds: T-Bills. Still, unlike other stablecoins we redirect 100% of the proceeds of those T-Bills to basic income programs for people in extreme poverty. Currently, stablecoin issuers make 4.2% interest on their assets. With a $60 billion+ market cap, Tether is making $2 billion annually in interest. That’s enough to lift over 4 million people out of extreme poverty. All you need to do is switch to a different stablecoin. Oh, and more thing: transfers in USDGLO dollars are 10% cheaper than the competition due to smart-contract optimization.