March 22, 2023
‘Crypto FUD’ — Industry outraged as White House report slams crypto
Crypto executives have expressed irritation over the latest White House economic report — which notably features an entire chapter dedicated to casting doubts on the merit of digital assets. The Economic Report of the President, released March 20, marks the first time the White House has included a section on digital assets since it first began issuing the annual economic policy report in 1950. Co-founder of digital asset investment firm Paradigm, Fred Ehrsam, remarked that 15% of the Economic Report was dedicated to “crypto FUD.” 15% of the annual White House Economic Report is devoted to crypto FUD https://t.co/lQlAyXgfyJ pic.twitter.com/RTZacgXSUg The report includes 35 pages dedicated to debunking the “Perceived Appeal of Crypto Assets” along with a short section on the FedNow payment system and central bank digital currencies (CBDCs). The report’s main argument is that crypto assets fail to deliver on their “touted” benefits, such as improving payment systems, financial inclusion, and creating mechanisms to transfer value and intellectual property, stating: “Instead, their innovation has been mostly about creating artificial scarcity in order to support crypto assets’ prices—and many of them have no fundamental value.” It also argues that cryptocurrencies fail to perform the functions of sovereign money — such as the U.S. dollar — as crypto prices fluctuate too wildly to be a stable store of value, nor can they function as a unit of account or medium of exchange. The report also takes aim at stablecoins, which it argues are subject to run risks, and is thus too risky to satisfy their role as a “fast payment” instrument. Blockchain Association CEO Kristin Smith called the latest presidential report “disappointing,” saying it shows that some in the government appear “increasingly allergic” to the burgeoning crypto industry, adding: Decentralization is also highlighted in the report, which argues that “despite claims of being decentralized and trustless, blockchain-based applications are in practice neither.” Users access crypto assets by going to a limited set of crypto asset platforms, while a small group of miners performs the majority of mining in most crypto assets, it argues. Related: House Republicans directly criticize Biden administration for digital asset policies The latest annual economic policy report was published some two weeks after the collapse of Silvergate Bank, Silicon Valley Bank, and Signature Bank — all three of which served aspects of the crypto industry. Dan Reecer, chief growth officer at decentralized finance (DeFi) platform Acala Network, claims the report comes “just days” after Operation Chokepoint 2.0 was executed on crypto-friendly banks. He also noted an “obvious early warning” of an upcoming United States CBDC, or digital dollar, referencing a section of the report that seemingly touts the benefits of a U.S. central bank-controlled currency. Magazine: Unstablecoins: Depegging, bank runs and other risks loom
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SkyPixel 9th Annual Photo & Video Contest Winners Announced
Mar 19, 2024
Competition Receives a Record Number of Submissions that Highlight the Power of Innovation SHENZHEN, China, March 19, 2024 /PRNewswire/ -- SkyPixel, one of the world's most popular online communities for aerial photography and videography, today announces the winners of the SkyPixel 9th Annual Photo & Video Contest. Co-organized with DJI, this year's competition attracted over 130,000 submissions – a 100% increase from the previous year. The contest welcomed submissions from across the creator community, which includes professionals, aerial enthusiasts, and creative newcomers, showcasing their personal histories through the art of visual innovation. A Contest Shaped by You The SkyPixel Annual Photo & Video Contest is a testament to the power of innovation led imagery, honoring stories that shape the art of image capture both on solid ground and amidst the clouds. SkyPixel has cultivated a community-driven platform that reflects the dreams and aspirations of creators worldwide, and the annual competition has been a conduit for people who love image creation to express themselves as it authentically reflects the desires and aspirations of creators worldwide. Industry-Leading Judges The 9th Annual Photo & Video Contest was assessed by a Judging Panel of incredible professionals in the industry. In photography, seasoned experts include Wen Huang, a World Press Photo judge and Senior Editor, and Anne Farrar, Assistant Photography Chief Editor at National Geographic, Nan Li, the Photo Director of Southern Weekly, and Daniel Kordan, a renowned landscape photographer. In the video category, the judges include Michael Fitzmaurice, the Aerial Director of Photography of "Jumanji: Welcome to the Jungle," and Xiaoshi Zhao, known for his award-winning work on "Forever Enthralled." Bing Xi, a prominent figure in the Chinese TVC industry, and celebrated filmmaker Brandon Li round out the panel. After careful deliberation, the panel proudly presents the final winners for the year. 9th Annual Best Work Prize – Video: "Haines Alaska Through the Eyes of Luke Bredar" by Luke Bredar This year's video judging panel, which includes award-winning Cinematographers and Directors of Photography, chose Luke Bredar's video, "Haines Alaska Through the Eyes of Luke Bredar." This short film mixes heart-pounding action shots of a skier racing down a snowy mountaintop landscapes with breathtaking shots of Alaska's mountainous, winter terrain. Luke Bredar details the thought process behind the short film, "The motivation behind creating this video was to evoke themes of otherworldliness, objective risk, the interplay between risk and the essence of human spirit, solitude, impermanence, self-sufficiency, and the journey of incomplete wandering intertwined with heartbreak." This short film is an epic story made in collaboration with Matchstick Productions. Bredar explains how he pursues a better visual presentation through his creative process "I think to myself. How would my child self want to see this filmed? And I almost always get a clear vision in response. There are a myriad of challenges shooting aerial cinematography in mountain environments, but they are all ...Full story available on Benzinga.com
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