Tag: Public

United Kingdom’s digital pound meets public backlash — Why?

coiner

British society is both civil and democratic, so it wasn’t unexpected that the government of the United Kingdom would “consult” the public before signing off on a digital version of the British pound. The response it received may have been surprising, though. The public canvassing conducted jointly by His Majesty’s Treasury and the Bank of England between February and June of 2023 drew some 50,000 responses, and it unleashed a “public backlash,” according to The Telegraph — a U.K. newspaper — with “widespread public concern about privacy as well as…

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Open-source advocates launch OP Stack testnet to fund public goods

coiner

Layer-2 blockchain Public Goods Network launched a testnet on July 7, promising to spend “the vast majority of net sequencer fees” on public goods instead of paying them out to the development team or token holders, according to an announcement from the network’s developers. In economics, a “public good” is a good that cannot be produced for profit because it is difficult to exclude non-payers from its consumption. The new network was developed by the same team that created Gitcoin, a project that seeks to raise funds for open-source projects.…

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