The Download: a blockchain enigma, and the algorithms governing our lives
The Dark Side of Crypto's Permissionless Dream
In the world of cryptocurrency, the concept of a permissionless blockchain has long been touted as a revolutionary innovation. The idea is that anyone can use a decentralized network without needing to obtain approval from a centralized authority. However, a recent incident involving THORChain, a blockchain platform that allows users to swap one cryptocurrency for another, has raised questions about the true nature of this permissionless dream.
Who's in Charge?
THORChain is a decentralized network that operates on a permissionless basis, meaning that anyone can use it without needing to obtain approval from a centralized authority. However, in January last year, users lost more than $200 million worth of their cryptocurrency in US dollars after THORChain transactions and accounts were frozen by a singular admin override. This incident has led to questions about who is responsible for the operations of THORChain.
The Founder's Identity
Jean-Paul Thorbjornsen, the founder of THORChain, has been at the center of this controversy. Initially, he hid behind the pseudonym "leena" and used an AI-generated female image as his avatar. However, in March 2024, he revealed his true identity as the mind behind the blockchain. This revelation has raised questions about the true nature of THORChain's decentralized structure.
The Robots Who Predict the Future
In today's world, we are awash in a sea of predictions so vast and unrelenting that most of us barely even register them. People's desire for reliable forecasting is understandable, but nobody signed up for an omnipresent, algorithmic oracle mediating every aspect of their life. A trio of new books tries to make sense of our future-focused world—how we got here, and what this change means.
Predictions as Power and Control
Each of these books has its own prescriptions for navigating this new reality, but they all agree on one thing: Predictions are ultimately about power and control. This raises important questions about the implications of relying on algorithms to predict our future.
Stratospheric Internet Could Finally Start Taking Off This Year
Today, an estimated 2.2 billion people still have either limited or no access to the internet, largely because they live in remote places. However, thanks to tests of stratospheric airships, uncrewed aircraft, and other high-altitude platforms for internet delivery, this number could drop this year.
The Must-Reads
Here are some of the most interesting stories about technology that I've come across recently:
- Mark Zuckerberg is due to give evidence in a major social media addiction trial. He'll face questioning over whether Meta does enough to protect young users.
- Perplexity has abandoned ads inside its chatbot responses. It reasons that advertising can erode trust in AI.
- The US is being battered by a range of wild weather. From critical wildfire risks in some states to winter storms in others.
- Microsoft plans to spend $50 billion bringing AI to the Global South by 2030. India is one of the fastest-growing markets for the technology.
- AI-powered private schools are failing students. Models are being used to generate faulty lesson plans.
- Land owners are selling out to data center builders. Land previously earmarked for housing is being sold off to the highest bidder.
- Tesla has agreed to stop using the term "autopilot" in California. The DMV had previously also questioned its use of "Full Self-Driving."
- A new weight-loss drug may work a little too well. Participants in a trial are dropping out at a much higher rate than normal.
- Is anyone still using Grindr? Bots and AI have rendered it virtually unusable for some people.
- How to hack your dreams. Neuroscientists are figuring out new ways to influence what we dream about.
Quote of the Day
"I voted for this administration and didn't really think about [AI] until it started to affect me." —Lisa Garrett, a grandmother living in the city of Independence, Missouri, reflects on the Trump administration's decision to embrace AI, the Financial Times reports.
One More Thing
Hydrogen trains could revolutionize how Americans get around. Like a mirage speeding across the dusty desert outside Pueblo, Colorado, the first hydrogen-fuel-cell passenger train in the United States is getting warmed up on its test track. It will soon be shipped to Southern California, where it is slated to carry riders on San Bernardino County's Arrow commuter rail service before the end of the year.
We Can Still Have Nice Things
A place for comfort, fun, and distraction to brighten up your day. Got any ideas? Drop me a line or skeet 'em at me.
Deep Dive
The Download: China's dying EV batteries, and why AI doomers are doubling down
Plus: TikTok has finally signed a deal to keep operating in the US
By Rhiannon Williamsarchive page
The Download: AI-enhanced cybercrime, and secure AI assistants
Plus: Instagram's CEO Adam Mosseri has denied claims that social media is “clinically addictive”
By Rhiannon Williamsarchive page
The Download: sodium-ion batteries and China's bright tech future
Plus: This company is developing gene therapies for muscle growth, erectile dysfunction, and “radical longevity”
By Charlotte Jeearchive page
The Download: the future of nuclear power plants, and social media-fueled AI hype
Plus: more European countries are considering banning social media for under-16s
By Rhiannon Williamsarchive page
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Illustration by Rose Wong
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