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First Mover Asia: Ether Price Hits Fresh 11-Month High

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Summary

Ether's price has taken off in the past several days following the enabling of crypto withdrawals from the Ethereum blockchain's staking mechanism, reaching an 11-month high. CoinDesk Chief Content Officer Michael Casey writes that to prevent the potentially destructive impact of AI, we need open-source innovation, collective governance and decentralized ownership and control which is possible through blockchain protocols and Web3. CoinDesk Market Index (CMI) is up 0.4%. CoinDesk TV's most recent episode was on Ether Tops $2.1K After Shanghai Upgrade and Governance Tokens of Liquid Staking Protocols See Gains. Other news includes DWF Labs' more than $200M in deals, CoinDesk's plan to use generative AI tools, Ethereum Layer 2 Network zkSync's $250M in locked value, Avalanche's 6-month high in daily active addresses, and the threat of AI boosterism.

Q&As

What was the outcome of the Ethereum blockchain's Shanghai upgrade?
The ether price took off after the Ethereum blockchain's Shanghai upgrade, reaching an 11-month high.

What is Michael Casey's opinion on preventing the potentially destructive impact of AI?
Michael Casey believes that open-source innovation and collective governance that is possible through blockchain protocols and Web3 is necessary to prevent the potentially destructive impact of AI, not the monopoly defaulting structure of Web2.

What is the year-to-date gain of ether compared to the bitcoin price?
The ETH price is up 77% year-to-date, still trailing the bitcoin (BTC) price gain of 83% in 2023, but catching up fast.

What does Michael Casey believe is required to prevent an out-of-control AI from evolving to kill us all?
Michael Casey believes that collective, collaborative software development is required to create a computational antidote to dystopian nightmares.

What is the most recent episode of "First Mover" on CoinDesk TV?
The most recent episode of "First Mover" on CoinDesk TV is "Ether Tops $2.1K After Shanghai Upgrade; Governance Tokens of Liquid Staking Protocols See Gains".

AI Comments

👍 The article provides a comprehensive overview of current developments in the Ether price and the Ethereum blockchain, as well as insights into the potential dangers of AI.

👎 The article fails to provide any concrete solutions to the issues it raises, instead relying on broad strokes to paint a picture of the current state of AI technology.

AI Discussion

Me: It's about how the Ether price has hit an 11-month high following the Shanghai upgrade. It also talks about how to prevent the potentially destructive impact of AI, we need open-source innovation and collective governance that is possible through blockchain protocols and Web3, not the monopoly defaulting structure of Web2.

Friend: Interesting. It seems like blockchain is the way forward for preventing some of the potential negative impacts of AI. What do you think the implications could be?

Me: I think the implications are significant. If the open-source innovation and collective governance that blockchain protocols and Web3 provide can be effectively utilized, it could allow us to remain in control of the development of AI, instead of allowing a single entity to dictate its development. This could also prevent any potential misuse of AI and ensure that it is used for the benefit of humanity. Additionally, blockchain technology has the potential to revolutionize the way we interact with our finances, making them more secure and efficient than ever before.

Action items

Research the implications of AI and blockchain technology on the global financial system.
Explore the potential of open-source innovation and collective governance to prevent the potentially destructive impact of AI.
Attend Consensus 2023 to learn more about the intersection of crypto, blockchain, and Web3.

Technical terms

Ether (ETH): A cryptocurrency used on the Ethereum blockchain.
Web2: A term used to describe the current internet infrastructure, which is largely centralized and controlled by a few large companies.
Web3: A term used to describe the next generation of the internet, which is decentralized and powered by blockchain technology.
Crypto Withdrawals: The process of transferring cryptocurrency from one wallet to another.
Staking: The process of holding cryptocurrency in a wallet to earn rewards.
Cryptocurrencies: Digital assets that use cryptography to secure transactions.
AI: Artificial Intelligence, a technology that uses algorithms to automate tasks.
Cryptography: The process of encoding and decoding data for secure communication.