Month: September 2023

Goldman Sachs dismisses AI bubble, predicts upcoming revolution

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Goldman Sachs has firmly maintained that an artificial intelligence (AI) bubble doesn’t exist, despite concerns persist among analysts regarding the significant surge in AI market interest and the resulting spike in tech stocks. On the contrary, the financial powerhouse believes we stand on the verge of an AI revolution, rather than the anticipated bubble. The recent upswing in AI stock prices has led some to draw parallels with the late 1990s dot-com bubble, a comparison that Goldman Sachs strongly rejected in a recent publication. Peter Oppenheimer, Goldman Sachs’ Chief Global…

Share information to protect children and young people at risk, urges UK Information Commissioner

Organisations will not get in trouble if they share information to protect children and young people at risk of serious harm, the UK Information Commissioner’s Office (ICO) has promised. This message comes as the ICO publishes new guidance to address concerns from organisations and frontline workers that may be scared to share information for fear of falling foul of data protection law. The need to improve data sharing practices has been highlighted in recent serious case reviews in the UK where children have died or been seriously harmed through abuse…

Ripple Explains Why It Fast-Tracked Fortress Trust Acquisition

A multimillion-dollar security incident involving a Fortress third-party vendor took place in the hours leading to the takeover by Ripple. Ripple has shared the reason behind its accelerated acquisition of Fortress Trust which took place on September 8. According to the financial technology company, the deal was already on the table, albeit without any urgency to it. However, a multimillion-dollar security incident involving a Fortress third-party vendor took place in the hours leading to the takeover by Ripple. That was what necessitated the need to speed up things as it…

Canadian BTC exchange partners with Costa Rica’s largest fiat payment system

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A non-custodial Bitcoin-only exchange with a head office in Canada, Bull Bitcoin, has formed a partnership with SINPE Movil, Costa Rica’s principal fiat payments system, and Bitcoin Jungle, a local crypto wallet solution. According to Bull Bitcoin’s press release from Sept 14, both the citizens of Costa Rica and “foreigners” will be able to convert the local currency, Colones, to Bitcoin, and vice versa. Bull Bitcoin will also allow conversion to and from bank accounts (IBAN) both in Colones and USD via regular bank transfers. The exchange will operate through…

Amazon Launches AI Tool to Help Sellers Create Product Copy

In the face of the AI hype that has swept across the world in recent months, Amazon has refrained from launching its own AI-powered chatbot, opting instead to apply the technology to its businesses. Amazon is rolling out a generative artificial intelligence (AI) tool to help sellers on its platform write copy for their product pages. The tool, which was announced on Wednesday, can be used to create new listings or improve upon existing ones. All the seller has to do is provide some keywords or phrases as prompts. The…

Bitcoin ignores CPI, FTX as BTC price hits September high near $26.6K

Bitcoin (BTC) hit new September highs after the Sep. 14 daily close as markets digested macroeconomic and crypto industry news. BTC/USD 1-hour chart. Source: TradingView Trader: Bitcoin market “feels different” Data from Cointelegraph Markets Pro and TradingView tracked overnight BTC price highs of $26,535 on Bitstamp. The largest cryptocurrency had shaken off higher-than-expected United States Consumer Price Index (CPI) the day prior, maintaining $26,000. Subsequent confirmation that defunct exchange FTX had received legal permission to liquidate its remaining assets likewise failed to dent Bitcoin’s comparatively solid intraday performance. At the…

SWIFT Expands CBDC Interoperability Testing with Three Central Banks

SWIFT has been actively involved in various CBDC-related projects, including a wholesale CBDC initiative in collaboration with the New York Federal Reserve Bank, utilizing a regulated liability network. SWIFT, a prominent bank messaging platform connecting over 11,500 financial institutions worldwide, announced that three banks have joined the beta phase of its central bank digital currency (CBDC) interoperability project. This move aims to enhance the seamless integration of CBDCs into the existing financial ecosystem. According to the official announcement on September 13, the company also expanded its sandbox testing program with…

TRON Shows Might With 4.8-M Daily Transactions

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Tron (TRX), the blockchain platform founded by Justin Sun, has been showing a good performance for the most part of 2023. The project, which was launched just six years ago, recently registered an impressive surge in transaction activity, underscoring the increasing organic demand for the TRX cryptocurrency.  Recent data from a Nansen report reveals that Tron has been processing a remarkable average of over 4.8 million daily transactions, a testament to its rapid expansion within a relatively short period. Driving Forces Behind Tron’s Surge  Tron’s growth can be attributed primarily…