Tag: Weaknesses

Three years ago, Fred Jin and Kenzi Wang had an ambitious idea: What if they created one of the world’s first decentralized data clouds? “It was obvious that a consumer-focused data ecosystem was needed,” Jin said. “We believed that people should own their data and choose which applications to connect that data with.” Currently, major companies like Google and Amazon own the data clouds ...

A certain degree of magical thinking surrounds the non-fungible token, or NFT. The community involved in the NFT-buying frenzy of early 2021 believed that the blockchain technology used to make NFTs instilled them with infallible benefits. NFTs were supposed to be a tamper-proof ledger that authenticated and defined original digital works, which could offer artists royalties as the work was traded in perpetuity. But ...