I wrote about Grift - Gifts here. I didn't think of the term soon enough to include it in the Buzzwords list for Blueprint 2023 - which is now available. Get your free copy here.
In The New York Times print edition, December 15, 2022, the following ad ran on page A7. I don't know where else it ran.
It's a full paid ad (estimated cost is at least $150,000), from the Stellar Development Foundation, arguing how fraudsters (e.g. Sam Bankman-Fried of #FTX fame) are giving crypto a bad name. It goes on to describe how the blockchain is facilitating direct cash transfers across international borders and without banks - enabling aid to people in Ukraine who are under attack. (it leaves out any mention of how this also allows movement of money for other purposes as well, from sanctions avoidance to money laundering to weapons/drugs purchases and, of course, support of the invaders).
Good. It's beyond time where we had a real discussion about the good and bad of crypto. Not a hype-fest or a crossed-arm, "it's all bunk" argument, but a determinative discussion about if and how it can be used to help people. And what the RULES need to be to eliminate the centralizing, wealth extracting, environment destroying aspects of it - IF its going to be used.
Differentiating grift-gifts from "crypto-philanthropy" is going to come down to the regulations and oversight mechanisms built around the technology and the groups participating. It's about the legal code, not the software code.
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