Congratulations on being a HUMAN!

Welcome home fellow #web3 geeks?

We are back at it with a new edition of the DIFX Dispatch for this week!

If we're being honest … it’s been a weird week ??

We started off Tuesday by attending the funeral of the beloved Larry The Bird (#RIP, #deeplymissed), had our AI overlord release a new gizmo called Worldcoin, got a dose of raised interest rates and so on and so forth.?

Congratulations on being a human

Guess being a human finally paid off!?

How you ask??

Well, remember ChatGPT… Its owner Sam Altman just released a global identity network to differentiate AI and humans which is officially powered by its own native token called the Worldcoin?

Just so that you’re hooked, listen up, in 1 single day the price of WLD went up by 1489%.

Yes, in a single day!! Isn’t that CRAZY!

Here’s what you need to know about Worldcoin to stay ahead of the game.?

1. Ever wondered if you are talking to an AI or an actual human being online??
2. Ever wondered how you can be the only one with access to your identity without some third party taking it away from you or having the threat of ‘Identity Theft’?
3. Ever wondered how to get rid of ‘bots’ which impersonate humans?

Well, these are some of the ‘key’ questions that Worldcoin is answering.

A system where one human has one universal identity which can be used on all platforms for a bunch of different use cases is Worldcoin (WLD).

In short, the idea is to increase economic opportunity, have a way to know who’s a human and who’s a robot, and have an AI-funded Universal Basic Income, allowing people from different countries to contribute to decisions that affect the world all while preserving privacy.?

This project works on the idea of Proof of Personhood (PoP). What this means is proving that YOU are actually human and unique.

Not a bot made by some dude in a basement (lolz).

This allows you to differentiate yourself from others without sharing your real-world identity with a random stranger.?

The Worldcoin whitepaper firstly claims that this project is so powerful that once established successfully the applications include people around the world having the ability to vote online. There is no need to actually go physically and prove who you are while voting.?

Secondly, with powerful AIs being born such as GPT-4, it makes it difficult to tell who’s real and who isn’t.

And this is a pressing issue.

Sooooo if Worldcoin let’s you overcome these interesting problems, then how in the world do you get Worldcoin in the first place?

You buy it from a marketplace or exchange or something right?

Well, this is where things get a little fishy… Just when you thought that everything was going too smoothly. ??

One person only gets one WLD.

And to get that, you need to visit the Orb.?

Orb? Who? What?

The Orb is a physical device that scans your retina and verifies that you’re the real deal. Once the verification is done, you get your WLD.?

You can book an appointment to visit the Orb, if available in your country (link below).?

This is cool and all, but giving away your Iris scan seems like a bit too much right? What if there’s a data leak? What if someone hacks into it?

And does Altman have access to my Iris!!!? ??

Right now, Altman has said that there aren’t any databases which store the Iris scans, so OpenAI a.k.a Altman will not have access to it, but still, all the aforementioned points make this part of the idea very sceptical. We’re going to have to wait for further information because it’s barely been a few days since the official launch of WLD. Maybe these questions will be tackled, maybe they won’t.

Are you giving away your Iris scan and biometrics?

RIP Larry, you will be missed ??

Twitter as we know it has finally changed to the "X" app.

Shocking right?

Well, this is not so shocking to individuals who follow Elon Musk, the owner of Twitter (or should we say X ??).

In 2022, when Elon Musk acquired Twitter for over 40 billion dollars, he tweeted that his goal for Twitter was to turn the app into an "everything app". This will mean that will be rebranding from a microblogging app to an app that can do almost anything.

With this tweet came a series of changes on the app from limiting the number of tweets you can see a day, to subscribing to the platform for 8 dollars, to the Twitter creator program, and many more.

Now Elon Musk has made the biggest change on Twitter by changing its very popular name from Twitter to "X".?

This took place on Tuesday the 25th of July.

Musk tweeted the new design in a video posted to X and it was immediately installed on the app's homepage and as Elon's profile picture.

This transition to X is not yet complete, as some of Twitter's official handles like Twitter India and Twitter Sports still have the bluebird moniker on them.

The name change is in line with other of his ventures like the "xAI" app, SpaceX, and Xcorp. Although many critics believe that this move is risky and will cost Twitter billions of dollars, Elon Musk tweeted that “X" will become the most valuable brand on Earth.

He also plans for X to expand into an app that can conduct every user's entire financial world.

July 2023: FED raises Interest Rates!! (AGAIN!!?)

One of the MOST anticipated meetings this month has finally been adjourned.?

Yes, they are back, the guys at FOMC decided to raise the interest rate by a quarter of a percent from 5.25% to 5.5%. And mind you, this is the highest it’s been since 2001.?

Sounds scary? Having anxiety? ??

We’ve got you covered, let’s quickly go through some of the key points from yesterday’s meeting and see how that affected some of the asset classes on the market.?

Drifting through some basics first,?

A rise in interest means that it becomes expensive for entities like banks and businesses to borrow money and that also affects everyday people like us!????????

That mortgage you have, your credit card payments, yes, literally everything is affected up to a point.?

On the other hand, imagine this, you go to the store to buy your favourite snack and you notice that it’s prices have skyrocketed dramatically or you noticed how the price of your cost of living rises at times even though you haven’t bought anything extra??

Friends, say hello to ‘Inflation’.

If the inflation is too high, the cost of essential goods rises. Now, no ordinary citizen wants that.?

In fact, that’s detrimental to society.?

If nothing was done to control inflation, the economy would spiral into utter chaos and worldwide instability. ??

To avoid all of this mess, the Fed has increased the interest rate so that inflation can be reduced.?

By the way, they are trying to get inflation at a target of 2% and currently, inflation is at around 3%.?

Yes, that’s most definitely not good.

Jumping onto how this meeting affected some of the asset classes,

US Stocks thought that they would be invincible to the after-effects of the meeting, they were partly right.?

So, the DOW rose by a smidge, the S&P 500 lost a few points and Nasdaq had a small dip. It’s safe to say that the US Stocks are chilling at the moment.

On the other side of the spectrum, our buddy Oil wasn’t too lucky. The price fell by 1%.?

You see, increased interest rates may cause people to reconsider their fuel purchases, which could reduce demand for that priceless "black gold."

Now you must be wondering, what’s next? What should I do? Where should I invest?

Mr Powell announced this in the meeting,?"We won't give you a crystal ball view of future rate actions."

This is mainly because the economy right now is unpredictable, but then again, when were we able to predict something so huge as the entire economy of the United States of America??

For now, everyday people might have to slow down on spending but the Fed has faith that the economy will not plummet and will find a balance before doing anything bizarre.

Amazon and blockchain continue to thrive

?? On Thursday, Amazon Managed Blockchain (AMB) revealed it has upped its blockchain game to support Access and Query functions in an effort to make life a breeze for developers (Yes you! We know you're reading) and businesses in the blockchain space!

For the uninitiated, AMB is the ultimate ally for developers building Web3 applications on various blockchains. And now, with the introduction of Access and Query functions, the possibilities are endless!

What's the deal with these super-powered services, you ask?

Well AMB Access is your gateway to a serverless offering for non-mining, full blockchain nodes. Yep, that's right—no more specialized blockchain infrastructure is needed! ??

And there's more magic to come! With AMB Query, Web3 builders get their hands on standardized and formatted #blockchain data from multiple networks like #Bitcoin and #Ethereum. It's like having a treasure chest of knowledge at your fingertips!

But wait, there's a cherry on top!

Developers can now effortlessly interact with different crypto tokens and DApps across various blockchain networks using AMB Access.

All we can is that AMB really is on top of their game with these revolutionary enhancements!

Well, that's it from us this week!

We've kept it light for now because next week we have some big DIFX changes coming your way!

Wonder what it could be ??

Hint Hint: Think visual

(Feel free to guess in the comment below)

About DIFX

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Disclaimer:?The content of this newsletter is only for educational purposes and should not be construed as financial advice, opinion or statements of any kind. Remember investing and trading in volatile markets like cryptocurrencies is highly risky and should only be done with the proper knowledge and understanding