Commentary

commentary

Beyond the Bitcoin Bubble

Yes, it’s driven by greed — but the mania for cryptocurrency could wind up building something much more important than wealth.

By STEVEN JOHNSON JAN. 16, 2018

"Right now, the only real hope for a revival of the open-protocol ethos lies in the blockchain...If you think the internet is not working in its current incarnation, you can’t change the system through think-pieces and F.C.C. regulations alone. You need new code."

"You should own your digital identity — which could include everything from your date of birth to your friend networks to your purchasing history — and you should be free to lend parts of that identity out to services as you see fit. Given that identity was not baked into the original internet protocols, and given the difficulty of managing a distributed database in the days before Bitcoin ...was a practical impossibility. Now it is an attainable goal...." Hay ... new identity systems uPort, Blockstack and Solid"

"Brad Burnham, suggests a scenario revolving around ... a coordination platform between drivers and passengers " instead of a platform that takes all the marbles "..The blockchain world proposes ... adding another “basic layer” to the stack. Just as GPS gave us a way of discovering and sharing our location, this new protocol would define a simple request: I am here and would like to go there. A distributed ledger might record all its users’ past trips, credit cards, favorite locations — all the metadata that services like Uber or Amazon use to encourage lock-in. Call it, for the sake of argument, the Transit protocol. The standards for sending a Transit request out onto the internet would be entirely open; anyone who wanted to build an app to respond to that request would be free to do so. Cities could build Transit apps that allowed taxi drivers to field requests. But so could bike-share collectives, or rickshaw drivers. Developers could create shared marketplace apps where all the potential vehicles using Transit could vie for your business. When you walked out on the sidewalk and tried to get a ride, you wouldn’t have to place your allegiance with a single provider before hailing. You would simply announce that you were standing at 67th and Madison and needed to get to Union Square. And then you’d get a flurry of competing offers. You could even theoretically get an offer from the M.T.A., which could build a service to remind Transit users that it might be much cheaper and faster just to jump on the 6 train.

How would Transit reach critical mass when Uber and Lyft already dominate the ride-sharing market? This is where the tokens come in. Early adopters of Transit would be rewarded with Transit tokens, which could themselves be used to purchase Transit services or be traded on exchanges for traditional currency. As in the Bitcoin model, tokens would be doled out less generously as Transit grew more popular. In the early days, a developer who built an iPhone app that uses Transit might see a windfall of tokens; Uber drivers who started using Transit as a second option for finding passengers could collect tokens as a reward for embracing the system; adventurous consumers would be rewarded with tokens for using Transit in its early days, when there are fewer drivers available compared with the existing proprietary networks like Uber or Lyft.

As Transit began to take off, it would attract speculators, who would put a monetary price on the token and drive even more interest in the protocol by inflating its value, which in turn would attract more developers, drivers and customers. If the whole system ends up working as its advocates believe, the result is a more competitive but at the same time more equitable marketplace. Instead of all the economic value being captured by the one or two large corporations that dominate the market, the economic value is distributed across a much wider group: the early developers of Transit, the app creators who make the protocol work in a consumer-friendly form, the early-adopter drivers and passengers, the first wave of speculators. Token economies introduce a strange new set of elements that do not fit the traditional models: instead of creating value by owning something, as in the shareholder equity model, people create value by improving the underlying protocol, either by helping to maintain the ledger (as in Bitcoin mining), or by writing apps atop it, or simply by using the service. The lines between founders, investors and customers are far blurrier than in traditional corporate models; all the incentives are explicitly designed to steer away from winner-take-all outcomes. And yet at the same time, the whole system depends on an initial speculative phase in which outsiders are betting on the token to rise in value."

Kevin O’Leary (of Shraktank) interview

"In capitalism, either you believe in the intrinsic concept about the pursuit of wealth and why it’s good for you, or you don’t. I never question it. I never even think for a second that it was not the right path. To me there is darkness and light. Capitalism is the light. Socialism is the darkness. Nothing could ever change my mind about that. "

This is really what we are dealing with from all the members of the oligarchy and their hangers-on

boston racism image vs reality globe

I applaud the Spotlight team's series on race in Boston. After reading today's segment "Lost on Campus, as Colleges look Abroad" I was struck by its failure to make a solid connection to the other topics in the series. Almost no reference was made to the city of Boston in which 75% of the students are Blacks and Latinos and nothing at all was mentioned of what benefits the citizens of Boston gain in exchange for having so much of its property tax exempt.

If one considers the opportunities for non-exam high school students, the race percentages are wider and the patterns are even more stark. It is an embarrassment how little we offer our students in this supposedly world-class city. Sure there are programs like the one that brings Harvard students into the schools to help fill out college applications, advising young students that it is just fine to take on enormous debt that you will never be able to repay. Some students even do get accepted to private colleges but often find themselves not ready for college level work, with grade point averages that cause a revocation of their aid packages, freezing their college records until they pay off a loan that is virtually unpayable.

One could argue that it is not the colleges fault, the students are just not prepared to succeed in college. And it is true. As a high school teacher in a non-exam high school I struggled with my failure to deliver for my students. And yes, overall the Boston Public Schools are doing a terrible job. Of the very small percentage of its students who do go on to college something like 75% of them need to be in at least one remedial class charged at the regular class rate. We cannot depend on higher education to remediate our poorly prepared high schools students.

What we need is some synergy between our schools and our world class education institutions. Instead of a very mediocre AP program that tracks our kids and and pulls our best teachers out of regular classrooms, Boston High school students should be able to take a class in in an area college. Chemistry 101, sociology or a freshman seminar, let them dip their toe in the water, experience vibrant campus life and what you actually need to know and do to succeed in college. Wow, this is what a real lab looks like! Make it free. Organize study groups and tutoring. Offer college credit if they succeed.

Improve our teachers in a similar way. Replace consultant driven, in-house, low quality professional development with opportunities that inspire teachers with seminars at universities run by top researches and professors in each of the fields of study.

And when our kids do get accepted at a local college, start right then surrounding them with programs that extend through the summer insuring that when they do take the Accuplacers in the fall that they all are ready for college level work without remedial courses.

Instead of our local colleges quibbling over and not even paying their 'payments in lieu of taxes' let us disrupt that relationship and put in place programs that will truly make us a world class city.

black-and-latino-students-fail-make-gains-boston-latin-despite-expanded-test-preparation

In "Diversity gap at Boston Latin proving stubborn" or as described in the online url: 'black_and_latino_students_fail_make_gains_boston_latin_despite_expanded_test_preparation' there are a number of glaring failures of reporting. It is not that a "disparity in diversity became a concern last year"; it is an issue that has been festering since the collapse of the Exam School Initiative over ten years ago. Framing the issue as a "golden opportunity" not taken advantage of is imprecise. Failing to question the premise of having a test program targeted at kids with high test scores does little to challenge our education leaders. Maybe the Globe needs to rock the 'meritocracy'. Mayor Walsh, when will it the right time to talk about 'policies to increase opportunities for people of color'? This has been going on for 17 years, "We've got to take time to build this" rings false, Mike Contompasis.

There are models out there of successful programs. Berklee's City Music, UMB's PCEP are getting the job done. Bottom line: this a BPS problem and we need BPS to fix it. Exam school opportunities for the top, hardest working students in every K-8, elementary and middle school in Boston have to start earlier and continue longer if we are to succeed for our kids.

Mr. McKenna -- I'm consdiering your letter regarding Boston Latin for publication. However, I'm ignorant of "UMB's PCEP." Can you tell me what that is, and what those letters stand for? Yours, Jon Garelick

Hi Jon,

Sorry about the acronyms especially since its ungooglable, getting this down from 400 to 200 words required some tricks.

UMASS Boston has a number of pre-collegiate programs. Probably the most well known is the Talented and Gifted (TAG) Latino Program. The one I am most familiar with was for high school kids who didn't have the high enough SAT scores for admission. We would bother the program office to get our kids in; I was teaching at West Roxbury High, this was almost 10 years ago. It may have morphed to the Admission Guaranteed Program that is now happening at the Burke, Dorchester and South Boston.

It was way longer than 2 weeks, and it wasn't test prep. It was more like a the classic freshman seminar, taught by professors with lots of reading and writing, lasting 6 weeks the summer before the start of classes. You may know that 70% of Boston non-exam school students admitted to college end up in one or more remedial classes (you pay tuition but they don't count). One year I got seven of my students into the program, all of them passed the Accuplacer, skipping remedial classes, 5 of them successfully finished freshman year and continued as sophomores.

There are things in common between this program and others like Berklee's City Music. They happen off-site at the institution; the kids get a taste of how the other half lives. They make a strong commitment to the kids. UMASS Boston continued with programs after the start of classes, City Music gives kids a private lesson one afternoon an ensemble on Saturday and then a six week summer program. None of them are based upon test prep;.

I can imagine what Boston middle schoolers would think if they were exposed to the Black Box Theatre, the Art and Sculpture Studios, the extensive sports and music programs that are the best that the Latin Alumni Association can buy. Perhaps they could imagine themselves succeeding at Latin.

off point by Tom Ashbrook on Ulysses S. Grant

In the midst of the Native American protest over the Dakota pipeline, it is appalling to me how 'off point' a radio host could be. Ashbrook, in what is becoming a WBUR tradition, panders to his guests, is ill informed on his topic and oblivious to his topic's relation to life today in this country.

Ulysses S Grant called native Americans 'wards of the nation' who do not 'harmonize well with others' and should be placed on reservations. His 'permanent peace' was more like cultural genocide. He presided over the massacre of the buffalo and agressive milatry action against Native Americans. His Indian Appropriations Act ended treaty making,

Meanwhile 140 people get arrested in North Dakota many placed in dog kennels, get fired upon by sound cannons and tear gas. All this in response to a peaceful protest.

Failing to make any connection at all is irresponsible journalism.

My son and a co-worker came in during the broadcast. 'Why don't you just turn it off' they said. I find myself doing that more and more often.

Nonsolar users bear burden of net metering

THE SOLAR ENERGY BOOM in Massachusetts has been exciting and there is little debate over whether further expansion is important. We are strong supporters of solar energy, but only at the right price for the state’s businesses, municipalities, and residents, including low-income customers. It is they — not utilities — who are shouldering the high cost of electricity produced by solar power. Share Tweet 29 Comments As the conversation about how to finance the future of solar energy in Massachusetts continues, it is important to set the record straight about what maintaining the status quo — or raising the net metering cap — means for utility customers statewide, as well as what it means for solar developers. CONTINUE READING BELOW ▼ Net metering – one of the state’s solar incentives – rewards solar energy owners or developers by paying them for the power they produce at the same rate they would pay if these owners and developers were consuming electricity from the grid. This rate includes payment for benefits and services that solar developments do not provide. In addition, when solar sites produce more than they consume, they don’t have to pay for services such as the use of the wires and poles operated and maintained by the utility and financed by utility customers. For large solar projects, these reimbursements far exceed the value they bring to the electric system. As a result, Massachusetts pays more per kilowatt-hour of solar energy than anywhere else in the nation, and about twice as much as neighboring New England states. This leaves utility customers who do not have solar with a grossly inequitable share of the burden of Massachusetts’ overpriced solar energy. Given this structure and steep subsidies, it is no surprise that developers are feverishly pushing for an increase of the net-metering cap. The Net Metering Task Force, on which we served, estimated that nonsolar customers will pay nearly $4 billion between now and 2020 if current policies remain in place. That is unfair and unsustainable. We support the creation of new policies that continue to promote the expansion of solar energy in Massachusetts without forcing nonsolar customers to subsidize millions of dollars in profits for developers. In the meantime, we believe that raising the cap is not needed to ensure the ongoing development of solar power installations. This is evidenced by the applications — for systems of various sizes — that National Grid continues to receive even after meeting its cap. The cap does not apply to residential projects or those that produce electricity to be used exclusively on site. In addition, net metering is not the only incentive for solar. Let’s not rush to strap customers with paying for additional subsidies for the solar power industry before we shine some sunlight on the real costs and benefits of solar for everyone in the state. Bob Rio is senior vice president of Associated Industries of Massachusetts. Amy Rabinowitz is deputy general counsel for National Grid. Camilo Serna is vice president of strategic planning and policy for Eversource.

It is disingenuous of our utility companies blame our high electric bills on solar energy. Our bills have been high for years. Our energy has been derived from non-renewable fossil fuels and nuclear power sold to us by a different power conglomerate every few years. Solar is a threat to their business model. Now every electricity user with a south facing roof can become a producer.up every few years. to claim that as a result of net net metering "Massachusetts pays more per kilowatt-hour of solar energy than anywhere else in the nation" Massachusetts electric costs were high even before net metering, so what is the intent of the utilities in blaming it on solar?

Hazards tied to medical records rush

Subsidies given for computerizing, but no reporting required when errors cause harm

By Christopher Rowland | GLOBE STAFF JULY 20, 2014

One job that might be appropriate for governments is the creation of standards.

Bay State's big selloff

re: Bay State's big selloff by Richard Gillispie Boston Globe Op-Ed 7/27/7

Richard Gillespie has found an interesting crease in the social fabric through which to slip in a rationale for privatization. While corporations can jettison their responsibilities to their workers and retirees, the public sector depends on a more ponderous political process.

From a capitalist perspective there is a lot of value in our communities. The wealth is spread evenly, the difference in wages and benefits between our lowest paid state workers and our highest paid public officials is no where near the differences seen in the private sector between workers' and stockholders' earnings; an enticing amount of fat poised to move up the food chain and into executives/stockholders coffers. Yet, this even distribution is what gives our communities their strength. Our public workers can become part of the fabric of our society with the economic power to contribute to their communities.

Despite our federal government's mission of making the world safe for privatization, there is nothing democratic or free or even American in this value. Corporations are not citizens, we are the citizens. Selling off our communities so that we can re-apply for our jobs at lower pay and worse benefits is not the solution.

Tim McKenna
12 Parley Vale
Jamaica Plain, MA 02130
tim@sitebuilt.net
617 524 0938(h)
857 498 2574(m)

next target: the prevailing wage law

next target: the prevailing wage law Next target: the prevailing wage law - The Boston Globe

Perhaps we should just take eveybody's job away, let them get real hungry then bring them into a big arena. The field could be separated into two sections, 13% of the people could go in the union section, the other 87% in the other. Crumbs could be thrown down from the skyboxes with more crumbs going to the union section. People could then compete against each other by fighting for the crumbs thrown down from the skyboxes. The people cry out for more crumbs. The jumbotron responds: "Reduce the union section if you want more crumbs for yourself". We could then force the winners to have to give some of their crumbs to the losers. The jumbotron would declare that was because of taxes: "reduce taxes keep more of your crumbs". The people are outraged. Allow them to vote on the way out of the arena. Maybe you could sell chances on a seat in the skyboxes too.

Ah efficiency and discipline, the core values of privatization. Free market efficiency might get the job done for $25/hr or even $15/hr but what does that get society? Do we have strong communities where people can own a home, send their kids to college, save for retirement?