Chinese technology corporation Tencent unveiled its “Hunyuan” artificial intelligence (AI) system, a multimodal large language model (LLM) similar to OpenAI’s ChatGPT, at the Global Digital Ecosystem Summit in Shenzhen on Sept. 7. Say hi to Hunyuan! Our large foundation model, unveiled at the Global Digital Ecosystem Summit. The platform is now available to enterprises in China, supporting a heap of functions, from image creation, copywriting, customer service and more. https://t.co/ifLfc9yCVQ #AI pic.twitter.com/wWhRfzl3km — Tencent 腾讯 (@TencentGlobal) September 7, 2023 Hunyuan marks Tencent’s entry into “foundational models,” so named for their…
Day: September 7, 2023
Bitcoin Fate Hangs On The Edge Of The 200-Week EMA
Bitcoin (BTC) has officially dipped below the $26,000 level and is currently trading at $25,800, which coincides with its 200-week Exponential Moving Average (EMA). This EMA has served as a crucial support level, as it played a role in Bitcoin’s rebound on June 15, leading to its yearly high of $31,800. Bitcoin Consolidation Conundrum The current situation appears to be slightly different for BTC. On the one hand, Bitcoin has been experiencing an extended consolidation phase just above this significant level for over seven days. More concerning is that the…
CFTC Commissioner Pitches Pilot Program for U.S. Crypto Regulation
After holding a roundtable to gather ideas, she said, the agency should set up a “program for a specific period of time that incorporates many of the components drawn from past pilot programs, including: registration and eligibility requirements, financial resources and other conditions, risk management, products and contract terms, and other requirements including disclosures and reporting.” Source
Meta’s assault on privacy should serve as a warning against AI
In an increasingly AI-driven world, blockchain could play a critical role in preventing the sins committed by apps like Facebook from becoming widespread and normalized. Artificial intelligence platforms such as ChatGPT and Google’s Bard have entered the mainstream and have already been accused of inflaming the political divide with their biases. As foretold in popular films such as The Terminator, The Matrix and most recently, Mission: Impossible — Dead Reckoning Part One, it’s already become evident that AI is a wild animal we’ll likely struggle to tame. From democracy-killing disinformation…
Aave, Circle, Base become founding members of Tokenized Asset Coalition
Seven leaders in decentralized finance (DeFi) have banded together to form the Tokenized Asset Coalition (TAC). The new advocacy group will work toward the adoption of public blockchains, asset tokenization and institutional DeFi, it announced Sept. 7. Aave Companies, Centrifuge, Circle, Coinbase, Base, Credix, Goldfinch and RWA.xyz are the coalition’s founding members, but membership is open to “any organization that shares our vision to create a unified financial system on the blockchain,” according to the TAC charter. Related: Coinbase CEO reveals top 10 crypto ideas he’s urging devs to work…
Corporate Bitcoin (BTC) Adoption Seen Increasing After FASB Vote
Currently, accounting rules only let companies record increases in the value of their digital assets when they sell them – though losses are reflected at least once a year. But, on Wednesday, the Financial Accounting Standards Board (FASB) voted to take another path, letting companies use fair-value accounting that allows them to show gains and losses immediately on their income statements. Original
JP Morgan lowers Bitcoin production costs after CBECI update
Recent changes to the Cambridge Bitcoin Electricity Consumption Index (CBECI) methodology have led JP Morgan to adjust its estimates concerning the production costs of Bitcoin(BTC). Previously pegged at approximately $21,000, the new model suggests that the cost of producing a single Bitcoin is now closer to $18,000. The shift signifies that variations in electricity prices will exert a less dramatic influence on the overall expense of Bitcoin mining. According to trackers, Bitcoin is currently trading at around $25,800. Before the CBECI adjustments, JPMorgan’s calculations revealed that a one cent per…
Binance Expands BTC, ETH Trading-Fee Promotion to ARS, BRL, ZAR Currencies
Binance users will be able to trade bitcoin (BTC), ether (ETH) and Tether’s USDT stablecoin with the Argentine peso, Brazilian real and South African rand on the spot market without paying any so-called maker fees, according to a Thursday blog post. Makers create orders and wait for them to be filled, while takers remove liquidity by taking available orders. Source
AI and blockchain will ‘reshape sectors’ and create new markets from scratch — Moody’s
Artificial intelligence (AI) and blockchain technologies have reached a “tipping point” and are set to shrink established industries while creating new ones, forecasts a report from Moody’s Investors Service published on Sep. 6. According to the authors, the combined impact of AI and distributed ledger technologies (DLTs), such as blockchain, has effects “far beyond corporate balance sheets,” and “will likely reshape entire sectors, leading established industries “to shrink or disappear altogether while creating new markets from scratch.” The report notes: “History has shown that transformative technologies can shrink established sectors…
9 crypto leaders share advice for proof-of-humanity solution builders
Trust is in shorter supply in the digital world these days. As artificial intelligence evolves and produces more “humanlike” and realistic results, users of digital services are increasingly concerned with knowing who and/or what, precisely, they’re interacting with. With a commitment to decentralization and broad access, the crypto industry in particular needs proof-of-humanity solutions to avoid issues like fake accounts and automated bots — and, of course, to comply with Know Your Customer and Anti-Money Laundering regulations. The crypto industry is nothing if not innovative, and proof-of-humanity solutions that leverage…