Chia Announces Partnership with World Bank as Project Atari

Quoting from their reddit comment:

“This is Project Atari” - Gene

“Chia is developing the prototype for the Climate Warehouse as convened by the World Bank Group. We are working with and welcoming partners to join us and the World Bank. This is a non-exclusive, open source and no cost solution that we are developing for the public good.” Gene

“The Chia blockchain is the only blockchain today that meets the Climate Warehouse’s technology requirements” - Gene

“We are still finalizing the timeline with World Bank but we believe it will be running in the first half of next year” - Gene

“After some minor revisions, our whitepaper addressing the Climate Warehouse will be posted on World Bank’s website” - Gene

“Asteroids is related but for a different customer/partner” - Gene

“One of the key criteria for the world bank was the networks full node count. Farmer rewards are to compensate you for running a full node. It would be unwise to go against your own economic adoption interest” - Gene

edit: added add’t quotes from Gene

Just bought some XCH ! Expecting a pump once this gets in the news.

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Can you explain whatever this means in dumbed down pleb language?

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Chia money printer go brr.

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One way of looking at that could be that Chia’s focus is now 100% banking. Farming could be considered sidelined.

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…Ouch!!!

I am not sure how to respond because this is such a bad take showing how little you know. It’s like you’re making stuff up?

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Then please explain. I am also a farmer, and would love it to not be the case.

So you were just making stuff up with little to no evidence?

Following their business model whitepaper. Agreeing with what Aspy68 asserted. Actually, also seeing Chia’s latest response to dust storm, where they explicitly stated that they basically ignored any improvements/fixes on the farmers’ side, to focus on different priorities.

For me, full-nodes include farmers, and they also said, that they added resources to farmer-optimizations due to the duststorm.
Im staying positive, even for pis.

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Not that I understand it all, but this, at least, makes me feel good, if not even a bit proud to be a part of:

“This is a really big deal for Chia Network, and the farmers who support the network. People have been asking for this kind of news forever, and now that it is here it is hard to predict quite what the reaction will be. Gene thinks this is the first real, production blockchain utility since trustless payments and smart contracts. I am not as versed in the ecosystem as he is, but I tend to agree. If they can pull this off it might begin to change perception around blockchain as merely a complex financial tool and actually something the world can use.”

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I read the Chia Business White Paper in depth and came to understand that the entire Chia project is about using the pre-farm as equity. Basically a bank backed by XCH.

Further discussion about the Business White Paper and The Bank of Chia in this thread:
https://chiaforum.com/t/6-month-motivation

Project Atari is implementation of the Chia Business White Paper.

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Based on this thread, as a farmer, I don’t think I could be any more confused. How did this become about the future of farming?

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Although the price of XCH and the stability of the farming network are important to Chia Inc farming is not the top objective or priority.

The pre-farm is worth over 3 billion dollars as equity, once registered. Using this equity in loans and partnerships is the primary objective of Chia Inc, IMOP.

Wow, I have serious mixed emotions. I’m thinking I’m not alone on these feelings? Very confused but I’m trying to make sense of this. I appreciate the community perspective on this. I’ll read the other thread right now.

I would add to what @Aspy68 explained a quote from Sargonas about Dust Storm:

We have always known there was a lot of room for optimization in our code, particularly for full nodes running on low end hardware like Raspberry Pi4, and like all software projects we have to balance carefully between spending resources on optimization against adding critical new functionality. We recognize now that there is a significant need for more optimizations sooner than we anticipated, and are currently all hands on deck looking for ways to get out short term optimization tweaks as well as long term ones as well, to alleviate this pain for folks experiencing it.

The key there for me is “balance carefully between ….” You just don’t build your house on a weak foundation, I mean bad code. There are several terms in software development like "optimization’ or “refactoring,” etc. that basically all mean that the existing code is deficient. This forum is mostly about dealing with those deficiencies that hit us farmers every other day.

IMO, in the short term, that announcement is for sure very helpful, as potentially it will bring XCH value up. However, I am not sure how that reflects on us farmers in the long term, but am leaning toward to what Aspy outlined. Maybe there is no need to worry, as a sound underlying network is the key to all Chia’s efforts, and we farmers built so far about $700,000,000 network for them. I doubt that they can afford to have us back off from this project, as the only thing that they will be left with is a piece of paper and hand waving.

I guess, we can all interpret all that in any way we want. However, I also have “serious mixed emotions” right now.

By the way, I have asked Sargonas about providing data about distribution of nodes / farm sizes that were affected, but so far he dismissed that. Also, as much as RPis are popular, I doubt that one can blame everything on those setups. Also, he was trying to bring up some 15 years old laptops, potentially still running on 5" floppies. (IMO, about 50-80% of all nodes had significant issues, and that for sure doesn’t represent just RPis or those laptops) To me, that is just FUD to try to deflect the issue.

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Wow, the news everyone has been begging for for months drops. (something actually useful being done with Chia putting it firmly on the map)…and its all negative feelings?! Shit

Chia will act as the technology partner of the World Bank for their Carbon Warehouse system.
This will track all carbon emission rights worldwide and provide an auditable system to handle them. The auditing process will take place on a layer 2 application on the Chia Blockchain.

Come on guys, this is massive big news. If they pull this off it could mean a major step up for blockchain adoption in general.

And yes this is also (very) good for farmers. Why, because a blockchain cannot exist only to farm. There need to be use cases for the blockchain or there is no reason for it to exist in the first place.

apart from blockchain if they can get this up and running it is also a big deal for the carbon emission rights, i the sense that it might finally start working they way it was intended.

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"The World Bank selected Chia for the initiative, which will enable the Climate Warehouse “to facilitate the transparent sharing and reporting of climate project information and its issuances,”

I think the word, “issuances” is particularly important and open to question.

Does this mean that the Chia Inc. pre-farm equity will somehow be used to back World Bank projects?

The World Bank is part of the International Federal Reserve banking structure and has a very questionable history.

While this news bodes well for Chia Inc, XCH value and farmers, I am not as happy morally with this direction.

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No not at all.

“issuances” in this case refers to the issuance of CO2 credits by governments and companies. For instance a wind farm.

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