Month: May 2023

Emerging tech to create “new ethics” for humankind: MEWS 2023

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In recent years emerging technologies have been pervasive in many major industries around the world. Whether it’s blockchain used to help combat climate change or artificial intelligence (AI) projected to drive economic growth. At the Metaverse Entertainment Worlds (MEWS) conference in Monaco, Cointelegraph sat down with Dr. Stephen Castell to discuss how emerging technologies are creating new ethics, changing the game for banks and more. Castell is an expert witness in class action lawsuits in the United States and Ph.D. in mathematics, who has been recently involved in major lawsuits…

VC Darling Crypto Sui Makes Waves With Market Debut, Price Sinks 37% From All-Time High – Altcoins Bitcoin News

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A buzz has been generated around a new layer one (L1) proof-of-stake blockchain initiative named Sui, following the network’s mainnet debut on May 3, 2023. The native token SUI has been listed on various cryptocurrency exchanges, drawing attention to the project. On the same day the network launched, SUI peaked at $2.16 per unit, but has since dropped by 37% from its record high. Mysten Labs Launches Sui Mainnet, Draws Attention with Delegated PoS Blockchain and Move Programming Language As established cryptocurrencies continue to compete for dominance, a fresh wave…

Challenges and solutions for a transparent future

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Artificial intelligence (AI) has created a furor recently with its possibility to revolutionize how people approach and solve different tasks and complex problems. From healthcare to finance, AI and its associated machine-learning models have demonstrated their potential to streamline intricate processes, enhance decision-making patterns and uncover valuable insights.  However, despite the technology’s immense potential, a lingering “black box” problem has continued to present a significant challenge for its adoption, raising questions about the transparency and interpretability of these sophisticated systems. In brief, the black box problem stems from the difficulty…

China’s crypto stance unchanged by moves in Hong Kong, says exec

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Despite Hong Kong steadily progressing with cryptocurrency adoption, mainland China has not changed its anti-crypto stance in terms of local regulations. Some Chinese state-affiliated banks have increasingly opened bank accounts to serve crypto clients in Hong Kong. CPIC Investment Management — a China government-backed firm regulated as a Hong Kong entity — even launched two cryptocurrency funds in April. All these developments don’t mean that China has softened or will soften its approach to regulating Bitcoin (BTC) anytime soon, according to CPIC Investment Management CEO Chenggang Zhou. “The Hong Kong government…

Tesla Hikes Price for Model S and X Cars in China by $2,747

Following months of repeated price cuts, Tesla has raised the price of some of its EV offerings in China to remain competitive.  Tesla (NASDAQ: TSLA) has hiked the price of its new Model S and Model X electric vehicles in China by 19,000 yuan ($2,751). On Friday, the company’s website reflected the product price increase, which comes on the heels of price hikes for its other cars. Tesla Models S and X EVs to Sell for 808,900 Yuan and 898,900 Yuan in China As it stands, Tesla’s Model S costs 808,900…

Adidas Q1 2023 Sales Revenue Down 1% after Terminating Rapper Ye’s Contract

Adidas has failed to give an explicit plan of what it is going to do with unsold Yeezy stock. The Q1 2023 sales performance of Adidas exceeded expectations despite its terminated partnership deal with Ye, formerly Kanye West. Adidas announced an operating profit of 60 million euros, surpassing analysts’ expectations of 15 million euros. However, due to the loss of Yeezy sales, higher supply chain costs, and discounts, Adidas’ gross margin fell to 44.8%. Adidas in Q1 2023 Though the sale revenue beat expectations, it trails the previous year’s record…

Should crypto be rebranded?

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As more people get drawn into the profit potential of crypto, skeptics increasingly point out to the fraud and failure happening in the space. The various hacks, ransomware attempts on the Colonial Pipeline, and the high-profile failures of Terra/Luna, Three Arrows Capital, Celsius and most of all FTX/Alameda have done nothing to improve crypto’s tarnished image.  It doesn’t help that powerful opponents and influential voices consistently denounce crypto. The mainstream media sometimes piles up on it too. Count the number of times the words “crypto” and “scam” have been put…

Cardano’s Layer 2 Scalability Solution Launches on Mainnet, Here’s What to Expect

The Cardano community is expecting at least, three key releases from the platform this year. Cardano may have taken its quest for scalability to another level with its Hydra upgrade which has now gone live on mainnet. The update was shared by Input Output Hong Kong (IOHK), the start-up behind the Cardano protocol. According to IOHK’s Twitter announcement, the first Hydra head has opened on the mainnet. For clarity, the Hydra head is the first member of the Hydra family protocol. And according to the Cardano team, each head “works…