At the International Journalism Festival in Perugia I have assisted to a quite misinformed session about blockchain for journalism. The only speaker who conducted a study
on the topic was kept in the background, while speakers from Civil (the blockchain-backed journalism platform, see issue #12
) were selling the dream. I wrote something
about the main misconceptions I have heard.
Needless to say, announcing the creation of a “blockchain city”
backed by the Chinese government in Malaysia created a lot of buzz. The city’s entire infrastructure will utilize blockchain technology and be built on a so-called “DMI platform”:
This platform will also serve as the foundation for a native DMI token, which will purportedly be used as the city’s own currency. Residents will supposedly be able to use the token to pay for government-based services within the city. Moreover, the city will also feature an exchange, using which tourists are said to be able to exchange fiat currencies for the DMI token.
By collectively owning physical property, city based laborers can accumulate wealth by exchanging rent’s for a local asset backed currency like the Los Angeles Reina. The profits generated from the buildings are distributed back into the network for growth and upkeep, and then out to the renters. By receiving a set amount of Reinas for your rent, you buy into the economic zone and Receive capital and shelter for your rent. Instead of purchasing shelter-as-a-service.