domains Tuvalu's gov. paperless, digital currency, funding via .TV domain

[Lox]

Tuvalu's government aims to become the world's first paperless society, using blockchain technology to create a national digital ledger.

This would mean all of Tuvalu's data - be it legislative, executive, judicial or financial - would be stored online using Bitcoin Satoshi Vision's (BSV) public ledger.

It also wants to turn its cash economy into one using some form of digital currency.
....

On the financial side, Kofe said Tuvalu was funding this "discovery phase" itself but he said it would consider other options once the cost of the project was fully determined.

One possibility that had been proposed was leveraging funding through the renewal of the rights to Tuvalu's lucrative internet domain name ".tv" which was extremely popular among internet streaming sites like Twitch.

The rights for its distribution, currently held by American company Verisign, expired this year.

( dot TV price up?)

read more (rnz.co.nz)

 

[CraigD]

Tuvalu is an island nation that covers an area of just 26 km², with around 12,000 inhabitants. Their very existence is threatened by rising sea levels caused by global warming.

I've been reading that computer resources utilised by blockchain technology produce an astonishing amount of carbon in the process.

Going completely digital seems counter-productive when your very existence depends on lowering the carbon footprint.

EDIT:

As an example of the carbon footprint problem of blockchain technologies, Bitcoin has a carbon footprint comparable to that of New Zealand, producing 36.95 megatons of CO2 annually, according to Digiconomist.

Most Tuvalu islanders will end up migrating to New Zealand (the closest Commonwealth country) when their islands become uninhabitable.

IMO they should be looking at lowering their carbon footprint, not increasing it by utilising blockchain or other digital technologies for everyday transactions.

 

[TauseefKhan]

Thanks @Lox and @CraigD

 

[garptrader]

How many cities globally would be adversely affected by rising sea levels? What happens to the real estate market in Miami and Fort Lauderdale and Delray Beach when they are under water?

 

[CraigD]

At its highest, Tuvalu is only 4.6 metres (15 ft) above sea level. Tuvaluan leaders have been concerned about the effects of rising sea levels. It is estimated that a sea level rise of 20–40 centimetres (8–16 inches) in the next 100 years could make Tuvalu uninhabitable.
- Source

What will happen to .tv domains when the country becomes uninhabitable, assuming that the DNS system is still in use?

 

[platey]

the bigger picture is communities and countries etc finding alternative funding methods

how long before the likes of facebook and google fund communities completely from ad dolars? meaning that no one would need to work as free communal accomodation would be funded by ad dollars completely etc which would create a completely cash free community where no one would be in debt because it would be inpossible to borrow because their would be no need to borrow etc

 

[branding]

How many cities globally would be adversely affected by rising sea levels? What happens to the real estate market in Miami and Fort Lauderdale and Delray Beach when they are under water?

If it goes up 1M...

If we would've done nothing. We can handle the rising sea levels perfectly fine but at some point, and for countries with less knowledge on how to turn the tide, it will become an issue.

 

[George S. Samuels]

the bigger picture is communities and countries etc finding alternative funding methods

how long before the likes of facebook and google fund communities completely from ad dollars? meaning that no one would need to work as free communal accommodation would be funded by ad dollars completely etc which would create a completely cash free community where no one would be in debt because it would be inpossible to borrow because their would be no need to borrow etc

You got it @platey. The bigger picture here is actually about finding alternative funding methods so the nation is not so dependent on foreign aid or continued to be viewed by Western media as "weak" or vulnerable. Yes they are remote, but they are strong and resilient too, so I applaud their willingness to think outside the box.

I do not speak for the Tuvalu government, but as the one responsible for bringing the project to them (my heritage is Tuvaluan). Tuvalu cannot wait around for other nations to "reduce their carbon footprint". I outline how this all relates to the .tv deal here (medium.com/@siosism/a-5-point-plan-to-future-proofing-tuvalu-the-sinking-nation-f62bd426d279) and here (restofworld.org/2020/the-domain-name-is-the-new-natural-resource/).

In relation to the "blockchain damages the environment" concern, I share this article (equitydiamonds.medium.com/bitcoin-will-massively-reduce-the-computational-grids-electric-power-consumption-b88b0f52d33a) for some context. As someone who is all too familiar with this area, with Tuvalu being at the forefront of news surrounding climate change, the blockchain efforts are a long-term play.

In the short run, because the space is mired in confusion and a large number of other blockchain projects, there is certainly a lot of "waste." However, if you look at the history of the Internet itself, it was eerily similar. Protocol wars and then penny stocks fueled the dot-com era (and bust), but eventually led to one Internet and more energy efficient machines. The same is happening within this space as well (qz.com/1982209/how-bitcoin-can-become-more-climate-friendly).

I don't think people understand the mining process of blockchain (especially Bitcoin, proof-of-work based ones) enough to compare the energy usage properly.

What blockchains like Bitcoin were intended to do was replace inefficiencies and manual processes that already exist within the financial system (in the long run). Of course, intentions and reality can often split, but we are only 10 years in to a larger 30-year cycle of true mainstream adoption.

In the case of Tuvalu, the manual processes include things like: physical shipping of cash when money supply is low, the lack of adequate online banking services, and printing of paper/plastic in general for cash itself.

And as miners compete, the most inefficient miners "die out." I equate it to a toddler. When toddlers are young, they do nothing but eat, sleep, and (you know what else). But as they grow and mature, they become more productive. If there is no "proof of work" part to this process, the economics will break (e.g. in a Bitcoin system) and we experience things like we're already seeing in other projects that see their chains being hacked or manipulated (BTC is already being manipulated imo, but that's another topic for discussion). It's important to view the system holistically.

Granted, do I think the carbon footprint should be reduced? Sure. But I don't think the issue is how much energy is being consumed, but more where it's coming from. If it can find renewable energy sources, then that it's a different ball-game all together.

If you guys have any other questions, feel free to shoot.

 

[George S. Samuels]

At its highest, Tuvalu is only 4.6 metres (15 ft) above sea level. Tuvaluan leaders have been concerned about the effects of rising sea levels. It is estimated that a sea level rise of 20–40 centimetres (8–16 inches) in the next 100 years could make Tuvalu uninhabitable.
- Source

What will happen to .tv domains when the country becomes uninhabitable, assuming that the DNS system is still in use?

This is actually why Simon Kofe, Minister of Foreign Affairs, Justice & Communications, mentions the importance of "digitizing the country" in case the island does indeed become inhabitable. It is a very real possibility.

But this is also why it's even more important for Tuvalu to come up with alternative revenue sources so that it is prepared. It cannot keep waiting for wealthier countries to "clean up their act" while they sit idly as ocean levels to continue to rise. They're looking at the problem differently, which is admirable.

 

[CraigD]

This is actually why Simon Kofe, Minister of Foreign Affairs, Justice & Communications, mentions the importance of "digitizing the country" in case the island does indeed become inhabitable. It is a very real possibility.

But this is also why it's even more important for Tuvalu to come up with alternative revenue sources so that it is prepared. It cannot keep waiting for wealthier countries to "clean up their act" while they sit idly as ocean levels to continue to rise. They're looking at the problem differently, which is admirable.

Hello George.

Thanks for enlightening us!

Welcome to NP

 

[George S. Samuels]

Hello George.

Thanks for enlightening us!

Welcome to NP

Thanks @CraigD! Great to see you guys having civil discussions around this topic here. Much appreciated

 

[Amit V]

I bought Tuvalu.crypto some time back & made a basic homepage on ipfs about their problem.

 

[RogueWriter]

You got it @platey. The bigger picture here is actually about finding alternative funding methods so the nation is not so dependent on foreign aid or continued to be viewed by Western media as "weak" or vulnerable. Yes they are remote, but they are strong and resilient too, so I applaud their willingness to think outside the box.

I do not speak for the Tuvalu government, but as the one responsible for bringing the project to them (my heritage is Tuvaluan). Tuvalu cannot wait around for other nations to "reduce their carbon footprint". I outline how this all relates to the .tv deal here (medium.com/@siosism/a-5-point-plan-to-future-proofing-tuvalu-the-sinking-nation-f62bd426d279) and here (restofworld.org/2020/the-domain-name-is-the-new-natural-resource/).

In relation to the "blockchain damages the environment" concern, I share this article (equitydiamonds.medium.com/bitcoin-will-massively-reduce-the-computational-grids-electric-power-consumption-b88b0f52d33a) for some context. As someone who is all too familiar with this area, with Tuvalu being at the forefront of news surrounding climate change, the blockchain efforts are a long-term play.

In the short run, because the space is mired in confusion and a large number of other blockchain projects, there is certainly a lot of "waste." However, if you look at the history of the Internet itself, it was eerily similar. Protocol wars and then penny stocks fueled the dot-com era (and bust), but eventually led to one Internet and more energy efficient machines. The same is happening within this space as well (qz.com/1982209/how-bitcoin-can-become-more-climate-friendly).

I don't think people understand the mining process of blockchain (especially Bitcoin, proof-of-work based ones) enough to compare the energy usage properly.

What blockchains like Bitcoin were intended to do was replace inefficiencies and manual processes that already exist within the financial system (in the long run). Of course, intentions and reality can often split, but we are only 10 years in to a larger 30-year cycle of true mainstream adoption.

In the case of Tuvalu, the manual processes include things like: physical shipping of cash when money supply is low, the lack of adequate online banking services, and printing of paper/plastic in general for cash itself.

And as miners compete, the most inefficient miners "die out." I equate it to a toddler. When toddlers are young, they do nothing but eat, sleep, and (you know what else). But as they grow and mature, they become more productive. If there is no "proof of work" part to this process, the economics will break (e.g. in a Bitcoin system) and we experience things like we're already seeing in other projects that see their chains being hacked or manipulated (BTC is already being manipulated imo, but that's another topic for discussion). It's important to view the system holistically.

Granted, do I think the carbon footprint should be reduced? Sure. But I don't think the issue is how much energy is being consumed, but more where it's coming from. If it can find renewable energy sources, then that it's a different ball-game all together.

If you guys have any other questions, feel free to shoot.

Thank you for your excellent post.

 

[Corey]

G'day and welcome @George S. Samuels

Cheers
Corey

 

[George S. Samuels]

@Amit V - do you still have that homepage?

@Corey @RogueWriter - thank you

 

[Amit V]

@Amit V - do you still have that homepage?

@Corey @RogueWriter - thank you

Hi George, Yes. On Brave you just need to type it in. The other browsers , I think you need to install an extension from unstoppable. cheers

 

[GoneWalkabout]

For everyone who is an investor in .tv names, one of the most common reasons we hear people choosing to not similarly invest in .tv is that 'Tuvalu is sinking'

Without wanting to sound too much like a science teacher we need to understand one thing…

Tuvalu is NOT sinking...

...the sea level is actually rising.

And, of course, the oceans don't just rise over Tuvalu, they rise equally everywhere.

So, for those sat in London, New York, Amsterdam, etc worrying remotely about Tuvalu, perhaps it's time to think what that extra 5 metres in sea level that would be needed to cover Tuvalu could also do to your own city/country.
Most of Manhattan, for example, is less than 15 feet (4.5m) above sea level.
http://www.wnyc.org/story/113962-climate-change/

There is a REAL precedent if the unthinkable happened. When a volcano erupted in Tristan da Cunha (TLD = .sh) in 1961, the entire population were evacuated to a disused Army Camp in Merstham, Surrey, England. That still didn't stop Tristan da Cunha from existing - as it still exists today. The same would happen to the residents of Tuvalu and .tv - and any new Tuvalu monetary system.

Tuvalu is not disappearing - and with Verisign or others paying millions each year to own the .TV extension, even if it did ‘go underwater’ there would be a stilt and concrete city built as the 'remaining Tuvalu' within weeks.

As for the possible new blockchain currency. If the energy to power it came from renewable energy this would not cause any bigger environment problems than we presently have to endure from the very non carbon neutral energies that are running a printed money system (mining, deforestation, manufacture, distribution, security, etc).

Tuvalu is often used as an example of how bad climate change could be. This is because the whole country (not just part) is so small it could realistically be 'perfect stormed' by a combination of rising oceans and abnormal weather fluctuations (like super storms) caused by global warming in the next 100 years. But these same things will also balls up the rest of the planet at the same time.

One thing any new Tuvalu currency should insist on happening is that all energy sources used to run the new currency be powered by wind, solar, geothermal, wave and hydro energy - and not oil, gas, or coal.

As for .tv investing and/or crypto currency investing. I would advise most to stay away from both. Not because of global warming but because both have a longer learning curve than most other investments and both have absolutely no middle ground. You will either do incredibly well or end up losing your shirt and living on soup.

Finally, the last time I heard someone seriously say .tv prices were going up because of something happening in Tuvalu, the registrar dropped the .tv premium renewal scheme that had been in place and allowed thousands of people to get the name they wanted at a vastly reduced price.

 

[Mytz.com]

good

 

[George S. Samuels]

As for the possible new blockchain currency. If the energy to power it came from renewable energy this would not cause any bigger environment problems than we presently have to endure from the very non carbon neutral energies that are running a printed money system (mining, deforestation, manufacture, distribution, security, etc).

Tuvalu is often used as an example of how bad climate change could be. This is because the whole country (not just part) is so small it could realistically be 'perfect stormed' by a combination of rising oceans and abnormal weather fluctuations (like super storms) caused by global warming in the next 100 years. But these same things will also balls up the rest of the planet at the same time.

One thing any new Tuvalu currency should insist on happening is that all energy sources used to run the new currency be powered by wind, solar, geothermal, wave and hydro energy - and not oil, gas, or coal.

Well said. Agreed on most of the above. Watch this space

As for .tv investing and/or crypto currency investing. I would advise most to stay away from both. Not because of global warming but because both have a longer learning curve than most other investments and both have absolutely no middle ground. You will either do incredibly well or end up losing your shirt and living on soup.

Agreed. But this is like any investment, really. DYOR. Invest what you can afford, etc. We are specifically not working on a new cryptocurrency in Tuvalu for this very reason. Our focus is on the actual underlying technology in relation to developing a national digital ledger, which will power many other aspects beyond just digital cash.

 

[Amit V]

Well said. Agreed on most of the above. Watch this space



Agreed. But this is like any investment, really. DYOR. Invest what you can afford, etc. We are specifically not working on a new cryptocurrency in Tuvalu for this very reason. Our focus is on the actual underlying technology in relation to developing a national digital ledger, which will power many other aspects beyond just digital cash.

George, do you live in Tuvalu ?

 

[Lox]

George, do you live in Tuvalu ?

Visit GeorgeSiosi.com / Faiacorp.com

 

[platey]

fictional example

a country has costs of eg £1 b

it needs to find ways to raise funds to cover those costs etc which usually means taking money of its people which have to go to work to pay living costs and bills etc

but the likes of facebook google and amazon could quite easily build

£1 b free all inclusive no bills super village communal living blocks that cost people nothing to live and it wouldnt cost these tech giants anything as ad dollars could self fund it

 

[Soofi]

Well done & kudos to Tuvaluan's for taking an approach which no other country has taken, yet!

A small country though, with mere 12000 inhabitants will be able to set a standard for global superpowers to follow and probably copy in the near future? No offence to anyone from Tuvalu, but I have serious doubts about it.

Nonetheless, best wishes to our brothers and sisters from Tuvalu as nothing really is impossible for the dedicated ones!

 

[George S. Samuels]

George, do you live in Tuvalu ?

No, not currently, but still have many relatives there. Like many Tuvaluans, my ancestors left to other more developed nations for better opportunities (e.g. Fiji, New Zealand, Australia). However, this project is incredibly personal because it's my way of honoring those before me. What good is it if we all move overseas, but not try to find some ways to give back?

Even though I'm a descendent, there has been a strong urge to do something for Tuvalu. This project is a way to do that, which will hopefully provide increased economic opportunities for Tuvaluans - now and into the future - so that they can stay where they are (if they so choose) but still tap into the global economy.

With Covid hitting last year, and remote/distributed work becoming the "new norm", it's become a perfect setup for nations like Tuvalu to either catch up or exceed.

 

[George S. Samuels]

Well done & kudos to Tuvaluan's for taking an approach which no other country has taken, yet!

A small country though, with mere 12000 inhabitants will be able to set a standard for global superpowers to follow and probably copy in the near future? No offence to anyone from Tuvalu, but I have serious doubts about it.

Nonetheless, best wishes to our brothers and sisters from Tuvalu as nothing really is impossible for the dedicated ones!

That's the idea. If we can show the way, that would indeed be a success for Tuvalu. However, like any undertaking, time will tell to see how things go. However, the project is already capturing the attention of other nations, so we will work on things as they come. Important bit is to set firm foundations.

Appreciate your well wishes and will pass it on to the Ministers!