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The blockchain industry is facing a massive power imbalance — just like the traditional finance industry. Blockchain technology was introduced in 2008 as a decentralized, secure, transparent system for managing digital transactions. Its primary aim was to provide a solution to major problems with traditional transactional systems, including trust, security, decentralization and efficiency. Blockchain has since expanded beyond finance and has been used in supply chain management, healthcare, games, digital media and social media, among others.  However, the blockchain industry is still facing significant challenges — such as a lack of diversity, wealth control by a few holders, hash rate problems and a loss of the promise of decentralization. Hash rate and why it’s a problem The cryptocurrency on everyone’s mind — and in the digital wallets of more than 400 million people around the world — is Bitcoin (BTC). Bitcoin’s hash rate is the computing power required to validate transactions ...

The program will help five emerging artists set up and manage their brands in the Web3 space, and is also aimed at educating people in the music scene on what avenues Web3 tech can offer them. Global payments giant Mastercard is ramping up its exposure blockchain tech yet again, after announcing a Polygon-based accelerator program to help musicians build their careers via Web3. The firm announced the "Mastercard Artist Accelerator" program via a Jan. 7 blog post, outlining that from this spring, it will connect five emerging musicians from across the globe with mentors that will  help them set up their brand in the Web3 music space. "The artists will gain exclusive access to special events, music releases and more. A first-of-its-kind curriculum will teach the artists how to build (and own) their brand through Web3 experiences like minting NFTs, representing themselves in virtual worlds and establishing an engaged community," the post reads. The program will cul...