Snippings

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Despite what many people would expect from a 300-page piece of legislation, the Act does not include the exact thresholds and scope of duties.

From: The UK Online Safety Regime: Five Months On | Insights | Mayer Brown.

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The Act requires social media companies to enforce their age limits consistently and protect their child users.

Services must assess any risks to children from using their platforms and set appropriate age restrictions, ensuring that child users have age-appropriate experiences and are shielded from harmful content. Websites with age restrictions need to specify in their terms of service what measures they use to prevent underage access and apply these terms consistently.

Different technologies can be used to check people’s ages online. These are called age assurance technologies.

From: Online Safety Act: explainer – GOV.UK.

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This stage will focus on integrating tokenised commercial bank deposits with tokenised central bank money on a public-private programmable ledger, a concept first proposed by BIS last year.

From: BIS’ Project Agorá to commence design phase with private sector participants confirmed – FinTech Futures: Fintech news.

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Neither professionals nor poker providers want to acknowledge the presence of intelligent machines for fear of deterring the new players whose money keeps the game afloat.

From: How to Beat Online Poker: Russian Group Won Big With AI.

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Bots began to proliferate and contribute to the game’s decline. By 2019, the same year a bot designed by researchers at Carnegie Mellon University humbled five pros in a mini-tournament, Morgan Stanley analysts warned that AI was an existential threat to the online poker market, still worth around $3 billion today. The rise of “superhuman poker bots in the online ecosystem now appears to be a matter of when, not if,” their report read.

That day has arrived. Advanced poker software is now widely available for a few hundred dollars.

From: How to Beat Online Poker: Russian Group Won Big With AI.

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While the UK has been a leader in adopting new payment technology, account-to-account (A2A) payments have been slow to take hold. For example, A2A accounted for just seven per cent of e-commerce transaction value in 2023 in the UK, the lowest adoption rate across Europe, lagging behind Poland (68 per cent), the Netherlands (64 per cent) and Finland (33 per cent).

From: Digital Wallets Are Popular in the UK While Demand for A2A Payments to Be Desired Finds WorldPay | The Fintech Times.

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Broadly speaking, the number of Ponzi schemes discovered last year went up, but the number of cryptocurrency-related schemes was down compared to 2022 with only 15% of them being crypto-related.

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Ponzi schemes are surprisingly common. They reached a seven year high in 2023, according to Ponzitracker.

From: A Month in the Life of a Compliance Officer.

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t will not surprise you to learn that many children under 13 have figured out that they can click the “I’m over 13” box and go on their merry way. It won’t surprise you, but apparently, it will surprise the hell out of the platforms, who claimed that they had zero underage users on the basis that everyone has to click the “I’m over 13” box to get an account on the service.

From: Pluralistic: Tech monopolists use their market power to invade your privacy (20 Sep 2024) – Pluralistic: Daily links from Cory Doctorow.

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Britain’s biggest problem is its low productivity – that is, the value of the goods and services people produce per hour they work. Before the pandemic Americans were 34 percent richer than us in terms of GDP per capita adjusted for purchasing power, and 17 percent more productive per hour.

From: Foundations.

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