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On August 26, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan," where officials from the Ministry of Industry and Information Technology introduced the progress made in implementing the 15th Five-Year Plan and accelerating the promotion of new industrialization. The press conference stated that during the 14th Five-Year Plan period, my countrys new industrialization continued to deepen and solidify, with a significant acceleration in the upgrading of industries towards "new, superior, intelligent, and green" development, successfully completing all the goals and tasks of the 14th Five-Year Plan.The yield on Japans 20-year government bonds fell 2.0 basis points to 4.040%.August 26th - The Bank of Korea (BOK) will announce its policy decision on Thursday, with analysts almost evenly divided on whether it will raise interest rates or keep them unchanged. Of the 31 analysts surveyed by The Wall Street Journal, 16 expect the BOK to implement its first consecutive rate hike in three years in July, while 15 expect it to hold rates steady until the fourth quarter. The market generally expects the BOK to raise its economic growth forecast for this year, given that inflation remains above its 2% target. Morgan Stanley economist Kathleen Oh stated that a "favorable macroeconomic backdrop" is sufficient to support a BOK rate hike in August; HSBC economist Jin Choi believes that given the apparent weakening of consumption, the BOK is in no hurry to raise rates. Barclays economist Bum Ki Son stated, "We believe there is a division within the Monetary Policy Committee between keeping rates unchanged and a precautionary rate hike."On August 26, NASA announced that two astronauts on the International Space Station successfully installed and connected a backup high-speed ground-to-air communication antenna during a spacewalk lasting approximately 6 hours and 30 minutes. The two astronauts who exited the spacecraft were NASA astronaut Anil Menon and European Space Agency astronaut Sophie Adno. During a spacewalk on August 18, they removed a malfunctioning ground-to-air communication antenna. Due to the lengthy operation, they were unable to install a replacement antenna that day. In this mission, the two successfully installed and connected the backup communication antenna and secured the previously removed malfunctioning antenna to a spare parts platform on the space stations truss structure.August 26th - Data released on Wednesday showed that Australias consumer price index (CPI) rose more than expected in July, driven by soaring fuel and travel costs, while core inflation also exceeded expectations, increasing the risk of another interest rate hike. Data from the Australian Bureau of Statistics showed that the CPI rose 1.0% in July compared to June, higher than the market forecast of 0.8%. The year-on-year CPI increase slowed to 3.5% in July from 3.8%, also higher than the market median forecast of 3.3%. The trimmed mean of the CPI, which assesses core inflation, rose 0.5% month-on-month, far exceeding the market expectation of 0.3%, while the year-on-year increase remained at 3.6%. The Reserve Bank of Australia has raised interest rates three times this year, aiming to bring core inflation back to its target range of 2% to 3%.

“Ethereum Has Many Points of Failure”: Says Former Twitter CEO

Skylar Shaw

Apr 22, 2022 09:51

Building on Ethereum, according to Jack Dorsey, has a lot of failure spots.


He also remarked that he believes social media should not be controlled by the wealthy.


As an institutional investment asset, Ethereum has underperformed this year.


Two of the most powerful Twitter influencers weighed in on Elon Musk's bid to acquire the social media behemoth Twitter in a Twitter debate.


In response to one of these posts, Ethereum was chastised for not being the best blockchain for creating a decentralized social media platform.

"Not Ethereum," Dorsey Says

Former Twitter CEO Jack Dorsey, in response to a tweet from Ethereum inventor Vitalik Buterin, expressed similar sentiments on Buterin's stance that rich people or companies should not hostilely seize social media.


The remark was made in response to Tesla CEO Elon Musk's $41 billion deal to purchase Twitter.


While Dorsey consented to this, he was provoked by another response from 'DeSo,' an ostensibly decentralized social media system. "If you're building on ETH, you have at least one, if not many, single points of failure and hence not attractive to me," Dorsey stated in response to DeSo's presentation.


When told that it wasn't based on Ethereum and that it was a Layer-1 protocol controlled by a 'Foundation' rather than a 'Corporation,' Jack simply answered, 'a foundation is a single point of failure.'


As a Bitcoin maximalist, Jack has always been outspoken about his crypto opinions, and they don't seem to be side with Ethereum at the moment.


But he isn't the only one who isn't a fan of Ethereum at the moment; institutional investors haven't been showing much interest in the cryptocurrency king.


According to the CoinShares fund flow data for the week ending April 15, Ethereum once again failed to make a difference in the market, with outflows totaling $97.3 million.


During the week, Ethereum had the second biggest outflow of $27.1 million, behind only Bitcoin with $72.1 million.


However, in terms of year-to-date flows, Ethereum is the worst-performing asset, with $153 million withdrawn, compared to $145 million pouring into the king currency.


Although the recent market rebound may boost interest in the asset in the coming weeks, the present picture is consistent with Dorsey's assessment of Ethereum as a poor investment vehicle and Dapp network.

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