Issue 113: Year in Review
Welcome to Backstory, a weekly newsletter turning global technology shifts into a three-minute read. This week, we’re thinking about 2022. – Mary Ames, Director of Strategy
THE BIG TAKE
Year in Review
Well, that was a busy year. As we approach the holiday season and prepare to welcome 2023, it’s a good time to pause for a bit of reflection. While Covid is still hanging around, this year felt as though we have at last moved past the pandemic mindset. Yet the most important stories continued to be squarely focused on social technology. We have explored the themes at work in the past couple of issues of Backstory, but the story of 2022 will be the profound crisis of trust in digital technology.
Looking back. The collapse in cryptocurrency prices spurred by a string of historical failures of major crypto companies dealt a severe blow to investor confidence. This ended with the incredible downfall of FTX, once one of the world’s most respected crypto exchanges. Next year will be focused on rebuilding. While investors of all stripes might be hesitant to rush back into the sector, the underlying brilliance of blockchain technology will draw people back. It’s just going to be a matter of time.
Rethinking technology. Elon Musk’s takeover of Twitter and subsequent gutting of the company has sent shivers throughout the social media community. While much of the conversation is focused on how this will affect the United States, it’s critical to consider how vital Twitter is for people worldwide. As the site’s content moderation standards fall by the wayside, it’s a good time to rethink our relationship with social media. We have been told that social media has the power to make the world a better place, but in 2022, we learned that’s not the case.
QUOTE OF THE WEEK
“A year from now, you may wish you had started today.”
– Karen Lamb, author.
CHART OF THE WEEK
In this week’s chart of the week, we are looking at Europe’s energy needs. This will remain one of the most important stories in the world through the winter.
OUR VIEWS THIS WEEK
The future of digital culture. Writing in The National in 2020, Xische’s director of strategy, Mary Ames, addressed the question of digital culture. We’ve all experienced the power of technology, from Zoom calls to the ability to stream millions of hours of content during the crisis. We’ve also read about the myriad privacy issues surrounding platforms like Zoom. The challenge is striking the right balance between innovative technology and data privacy, and the perfect time is now.
The digital Dirham. Cryptocurrencies are still struggling. But that shouldn’t sour talk of government-backed digital coins. In this piece from our archive, we turned our focus to government-backed digital currencies. Creating a state-backed digital currency is no easy task, but the potential return is hard to comprehend fully. With the right tools, human capital, and infrastructure, the UAE is poised to create a truly global digital currency that would entrench the country’s position as a hub of the emerging world. The time is right; it’s time to take the plunge.
SPOTTED ELSEWHERE
Talk to yourself. Here is a handy tip that might seem strange at first. Text yourself. At this time of year, many things can get lost in your head throughout the day. An easy fix to this problem is texting yourself. The Verge’s David Pierce has a great piece extolling the virtues of this funny act. He notes that “messaging yourself reminders, to-do lists, links, and photos is the fastest way you’ll find to make sure everything is searchable and cross-platform.” Give it a try and see for yourself.
Where do drones come from? In a remarkably short amount of time, drones have become commonplace in our society. How did this come to pass? The backstory of drones is a fascinating tale that blends science fiction and military research. In this long piece for Lapham’s Quarterly, Rudolph Herzog charts the progression of these unusual tools. Worth the extra time digging through this one.