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2023-05-08 16:27:33 UK reviews AI development: It can ‘drive substantial economic growth’

The U.K. Competition and Markets Authority said it would examine AI’s development, deployment and social impact.

The United Kingdom’s Competition and Markets Authority (CMA) has turned its attention to artificial intelligence (AI) after announcing an examination of the impact of the technology on consumers and the economy.

On May 4, the regulator said it would be looking at the development and deployment of foundation models — applications like OpenAI’s ChatGPT — against key principles. Those include safety, transparency, fairness and accountability, among others.

Sarah Cardell, the chief executive of the CMA, commented that since AI tools “burst” into the public sphere, regulators have had their eye on it.

“It’s a technology developing at speed and has the potential to transform the way businesses compete as well as drive substantial economic growth.“

She continued by deeming it “crucial” that businesses and consumers in the U.K. have access to the potential benefits of AI technologies while being shielded from fake information. AI-generated fakes have already started populating the web, resulting in lawsuits.

The initial review will examine the competitive market for AI foundation models and their usage. Regulators plan to monitor how they can expand and present opportunities, along with risks to competition and consumers.

The CMA says its goal is to help the technology develop in ways that “ensure open, competitive markets and effective consumer protection.“

Additionally, the review is intended to produce “guiding principles” for the protection of consumers and support healthy competition as the technologies develop. A report on the findings is scheduled to be published in September 2023.

This announcement follows the publication of a white paper on AI from the U.K. government in March 2023. Open / Comment

2023-05-07 20:04:06 The overall Ethereum supply has decreased by 0.199% over the recent 231 days (since The Merge happened). Meanwhile, using the PoW model, the overall supply would have increased by 3.321%.

This is an official WIN by PoS model. Open / Comment

2023-05-06 17:30:30 Argentina's central bank has banned payment providers from offering cryptocurrency transactions.

The ban is intended to reduce the exposure of Argentina's payment system to digital assets, the monetary authority said. Open / Comment

2023-05-05 15:22:58 MATIC UPDATE

Matic found a solid support at $0.95. Buying there makes a big sense. As you can see, the price is approaching this level for the fourth time already, all previous cases led to a growth.

If Bitcoin doesn’t go below the $25,000 support, the main support on MATIC won’t be broken this time. Open / Comment

2023-05-04 21:28:43 Alchemy Ventures Backs $4M Round for NFT Platform Vibe

Vibe, a new non-fungible token (NFT)-to-product platform that provides tools to help creatives customize and manage the tokens, has raised a $4 million seed round.

Investors in the round included the venture capital arm of Web3 infrastructure giant Alchemy, Aglaé Ventures, and K-Pop artist Psy’s music label P Nation, among others.

San Francisco-based Vibe aims to increase the value of NFTs beyond their scarcity and implement or increase the utility of the token. The no-code platform lets creatives turn the NFTs into applications and products that can allow the tokens to evolve and provide real-world and digital utility.

Embeddable features include loyalty points, ticketing and the opportunity for physical redemptions. Vibe NFTs can be deployed on any chain and bridged to any other chain.

“Real value for NFTs will come from the dynamism and programmability where creators can add unique features to their collections. Until now, they haven’t had a comprehensive tool to curate and customize their collections,” said Vibe founder and CEO Rachel Chu in a statement. “Our goal is to simplify the entire process, and we are confident in our mission of taking NFTs from pictures to products.” Open / Comment

2023-05-03 14:29:06 Charlie Munger Raises Concerns Over Troubled Commercial Property Loans at US Banks

Charlie Munger, the vice chairman of Berkshire Hathaway, stated in a recent interview that American banks are burdened with poor-quality commercial real estate loans. His comments arrive amid the collapse of three major U.S. banks and the expected seizure of First Republic Bank by the federal government. Despite the potential challenges, Munger emphasized that the current situation is not as severe as the 2008 financial crisis, stating that “it’s not nearly as bad as it was in 2008.”

The renowned investor and vice chairman of Berkshire Hathaway, Charlie Munger, spoke to the Financial Times (FT) in an interview published on April 30, 2023, where he discussed potential issues facing the U.S. banking system.

The 99-year-old American businessman discussed some of the challenges facing financial institutions today. Munger specifically highlighted the amount of commercial property currently held by U.S. banks.

According to sources, American banks hold nearly $1.5 trillion in debt, which is due by the end of 2025. The decreasing value of this property has raised concerns, compounded by the ten consecutive federal funds rate increases since last year. “A lot of real estate isn’t so good any more,” Munger remarked. Open / Comment

2023-05-02 19:30:48 New project: PassimPay
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Don't forget to follow us on Facebook and Medium Open / Comment

2023-05-02 15:21:39 Adidas Launches ‘Indigo Herz Pack’ As Part of Metaverse Campaign

Adidas is steadfastly striving towards being a trailblazer in fashion innovation by launching the “Indigo Herz Pack” collection. The Indigo Herz Pack constitutes the company’s homage to its recent metamorphosis with the “Into the Metaverse” campaign. The collection encompasses 2145 pairs of Superstar shoes and 2195 printed hoodies, both of which draw inspiration from the renowned NFT, Indigo Herz.

Moreover, exclusive token-gated access to Indigo Herz Pack is granted to ALTS NFT holders, indicating the brand’s commitment to web3. The ALTS NFTs by Adidas began with Chapter 1: ALT[er], which marked the commencement of a quest to possess an exclusive ALTS by Adidas identity.

The ALT[er] ego was the first of eight traits that determined holders’ unique identity. This trait provided exclusive utility tailored to their interests, and their digital fashion statement evolved based on their interests and engagement. Additionally, holders enjoy exclusive access to the Adidas Web3 ecosystem. Holders are able to procure the Indigo Herz Pack collection from April 26, with early access granted to adiClub members. However, the public sale of the Indigo Herz Pack will commence on May 5 via Adidas’ website, app, and handpicked outlets worldwide. Open / Comment

2023-05-01 13:41:09 Report: Hackers Breach AT&T Email Accounts, Steal Victims’ Crypto Funds

Cyber criminals have reportedly breached AT&T email accounts and are using the access gained to steal crypto assets from their victims. While a spokesperson for AT&T has denied claims that hackers have gained access to the company’s internal systems, a report suggests that as much as $20 million worth of crypto may have been stolen.

Two victims are said to have confirmed the theft, a spokesperson for AT&T has in the meantime rejected suggestions that criminals have gained access to the company’s internal systems.

“There was no intrusion into any system for this exploit. The bad actors used an API access,” said Jim Kimberly, the spokesperson for AT&T. Open / Comment

2023-04-30 18:55:38 REVIEW BITCOIN WEEKLY

Today is Sunday and weekly candle closes! It will be quite significant in case of closure above $29900, but still fine if it's $29500 or even $29k.

Perspective speaking, $24300 is an insanely strong support. Any pullback there is a must buy for sure! Two main resistances are $29900 and $31800. In case of fixing above both of them, grey targets are actual! Fixation above $32k would signal a strong bullish momentum for sure!

Be careful though, if BTC deviates $31800 level and dumps back, we might head back to $24300 support! Open / Comment