From Bank Cards to Stablecoins: Let’s Learn from History, not Repeat It

xxx

Leveraging Existing Technology: Unlike the 1960s, when no national payment infrastructure existed, banks today can leverage existing stablecoin protocols and platforms without building from scratch.

From: From Bank Cards to Stablecoins: Let’s Learn from History, not Repeat It.

Tom is, of course, spot on about this. In the 1960s there was no network to connect the customers, the banks and the merchants so it was necessary to build one. But we are not in 1960s any more. Banks are not the only organisations with computers and the money to afford telecommunications networks.

Identity at the sharp end – by David G.W. Birch

xxx

One approach to this challenge is the development of privacy-protecting “personhood credentials” (PHCs). PHCs are envisioned as a means for users to voluntarily prove that they are real or unique non-AI individuals without revealing personal information. This is potentially a promising model for enhancing trust in digital interactions.

From: Lessons from National Digital ID Systems for Privacy, Security, and Trust in the AI Age | TechPolicy.Press.

xxx

 

xxx

We have to fix this problem, and soon, because in the connected world, if you don’t know who IS_A_PERSON and who IS_A_DOG and who is neither, you cannot interact online in a functional way.

From: Identity at the sharp end – by David G.W. Birch.

xxx

Crypto coin for Russian shadow payments moves $9bn

xxx

A new cryptocurrency token designed to allow cross-border payments in spite of western sanctions on Russia, launched by a fugitive Moldovan oligarch and a Russian defence sector bank, has moved some $9.3bn on a dedicated crypto exchange in just four months since it was launched, the FT has found.

Billed as the first stablecoin pegged to the Russian rouble, the A7A5 token was officially launched in Kyrgyzstan in February and aims to facilitate large-scale financial flows into and out of Russia, which have been severely complicated by western restrictions.

From: Crypto coin for Russian shadow payments moves $9bn.

xxx

Generative AI’s crippling and widespread failure to induce robust models of the world

xxx

When I asked ChatGPT, “can a queen jump a knight?” it correctly told me no, with a perfect, detailed explanation… But in an actual game, ChatGPT will sometimes do exactly that, failing to integrate what it can parrot with what it actually does,

From: Generative AI’s crippling and widespread failure to induce robust models of the world.

xxx

The metaverse as we knew it failed, but it’s resurrecting in new ways

xxx

“The hype around the entertainment part has subsided,” said Andy Lee, partner at law firm Jones Walker who specializes in privacy, data strategy, artificial intelligence and the metaverse. Instead, Lee said there’s a “pragmatic recalibration” happening, where enterprise companies and even entire industries are starting to use immersive 3D worlds for uses like upskilling and scenario planning. Venture funds like Intel Capital and Venture Reality Fund are taking a close look at the metaverse for all its purposes.

From: The metaverse as we knew it failed, but it’s resurrecting in new ways.

xxx

Why Passing the Stablecoin GENIUS Act Might Not Be So Smart | The New Yorker

xxx

The Senate legislation contains a conflict-of-interest provision that would “prohibit any member of Congress or senior executive branch official from issuing a payment stablecoin product during their time in public service.” However, legal experts say this restriction, like other ethics laws, wouldn’t apply to the President or Vice-President, an exemption that is far from trivial.

From: Why Passing the Stablecoin GENIUS Act Might Not Be So Smart | The New Yorker.

xxx

Design a site like this with WordPress.com
Get started