Pyth Network partners with Portofino Technologies to improve its crypto data feeds, ensuring real-time price accuracy.
Data
Composable Data Assists Dapp Developers in Unlocking Rich Data Applications – Swaroop Hegde
Composable data, a flexible and modular approach in the field of data analytics, benefits decentralized application (dapp) developers constrained by the limitations of current data protocols. Swaroop Hegde, co-founder of Powerloom, explains that composable data maintains a decentralized database of data points verified through a consensus mechanism. Clean Insights Versus Actionable Intelligence Hegde, a thought […]Envision partners with HBAR and UN on new digitization platform for carbon markets
Envision blockchain along with HBAR foundation has teamed up with the UN to create a new suite of decentralized tech to streamline the complex carbon markets.
The 2023 United Nations climate change conference saw several new initiatives aimed at innovating the fight against climate change and streamlining the complex carbon credit markets.
The dMRV system is developed in collaboration with the UN Climate Change Global Innovation Hub and built on the HBAR blockchain.
The dMRV platform offers a suite of features that include an artificial intelligence (AI) search and Guided Search features for the United Nations Framework Convention on Climate Change’s (UNFCCC) Clean Development Mechanism (CDM) Methodology library and other standard registries across the carbon market Industry.
The CDM methodology library consists of hundreds of rulesets required to create a carbon credit, independently developed in an analog process supporting the carbon market.
The further scaling of the library of digitized and open-source methodologies allows registries, project developers, and other market stakeholders to use digital technologies to resolve trust and transparency issues.
Cointelegraph contacted Wes Geisenberger, vice president of Sustainability and ESG at HBAR Foundation, to understand the importance and working of the new dMRV platform and how it could help digitize the complex carbon credit market.
Geisenberger told Cointelegraph that the UN GIH/UNFCCC secretariat’s staff were deeply involved in methodology development, while supporting the "toughest challenges in climate negotiations.
China declares stealing digital collections like NFTs liable for criminal theft sentence
The Chinese government says theft of digital collections violates the protection law and interests of the crime of illegally obtaining computer information system data.
The Chinese government released a statement on Nov. 10 declaring that anyone stealing digital collections, such as nonfungible tokens (NFTs), will be subject to theft sentences.
It outlines three views on the type of crime that theft of digital collections falls under, the first two classifying it as either data or digital property. However, the statement stresses the third view which sees digital collections as both data and virtual property that would fall under the umbrella of “co-offending.”
The statement explained that stealing a digital collection includes intrusion into the system on which it is housed, therefore also committing the crime of illegally obtaining computer information system data and theft.
“The theft of digital collections violates the protection law and interests of the crime of illegally obtaining computer information system data.”
It elaborates on this topic, naming digital collections “network virtual property” and stressing that in the criminal law context, “collections should be recognized as property.”
“Since property is the object of property crime, digital collections can obviously become the object of property crime. If the digital collection is stolen by intrusion into the system or other technical means, the act also damages the property law.”
Related: 47 countries pledge to authorize the crypto-asset reporting framework by 2027
NFTs were specifically mentioned, establishing that digital collections are derived from the concept of NFTs “abroad” and use blockchain technology to “map specific assets” with “unique, non-copyable, tamper-preventing, and permanent storage characteristics.”
The declaration said that although China has not opened the “secondary flow market” for digital collections “consumers can rely on trading platforms to complete purchases, collections, transfers, destruction and other operations to achieve exclusive possession, use, and disposal capabilities.”
Despite China’s official ban from 2021 on nearly all crypto-related activity and transactions other than simply owning cryptocurrencies, there has been recent buzz surrounding NFTs.
A local Chinese media reported on Oct. 25 that the Alibaba-owned peer-to-peer marketplace Xianyu removed its censorship of “nonfungible tokens” and “digital asset” related keywords in its search.
Prior to that, on Oct. 6 China Daily, an English-language newspaper owned by the Chinese government, announced that it wanted to create its own NFT platform and would award 2.813 million Chinese yuan ($390,000) to a third-party contractor to design the platform up to its specifications.
Magazine: Australia’s $145M exchange scandal, Bitget claims 4th, China lifts NFT ban: Asia Express
AI and real-world assets gain prominence in investor discussions
Additionally, discussions concerning cryptocurrency prices have waned due to market volatility and stabilization.
As nations make progress in promoting the expansion of the artificial intelligence sector, market data from Santiment indicates an uptick in conversations among investors and traders regarding the potential of real-world assets and artificial intelligence.
At the same time, discussions concerning cryptocurrency prices have waned due to market volatility and stabilization, although there is now a growing sentiment surrounding BTC reaching $40,000. According to data from Santiment, this shift in market sentiment regarding the BTC price could be seen as a positive indicator for investors.
Santiment’s data reveals a discernible pattern, indicating that the level of search interest in Bitcoin exchange-traded funds (ETFs), a significant cryptocurrency metric, has stayed relatively modest despite the rise in BTC’s price.
Conversely, the search volumes for various topics, including the Consumer Price Index (CPI), PayPal stablecoin, Curve drama, bull market, and bear market, show notably lower levels of engagement in comparison to discussions regarding AI and real-world assets. This data highlights the increasing importance of AI and real-world assets as emerging focal points in the worldwide financial arena.
In addition to the continued excitement about AI and real-world assets, AI-driven cryptocurrency tokens are experiencing a substantial price surge.
Related:AI chatbots are illegally ripping off copyrighted news, says media group
Moreover, the involvement of major global tech companies like Google, Microsoft, and Anthropic in AI investments, coupled with their efforts to promote AI growth and development, has prompted investors to reconsider their investment choices. As businesses worldwide increasingly pivot toward AI and real-world assets, the surge in conversations related to AI seems to have overshadowed the cryptocurrency price landscape.
The term “AI,” has also been declared the word of the year for 2023 by Collins Dictionary, a long-standing publisher of English-language dictionaries. Collins noted that AI has witnessed substantial progress and widespread discussions in 2023, earning the reputation of the "next significant technological revolution."
Building upon prior efforts, United States President Joe Biden issued an executive order on Oct. 30 establishing new standards for artificial intelligence (AI) safety and security. President Biden's directive incorporates AI safety pledges by 15 industry leaders. These fresh guidelines encompass six core principles, addressing the ethical implementation of AI in government, citizen privacy measures, and safeguarding consumer data.
Magazine: ‘AI has killed the industry’: EasyTranslate boss on adapting to change
Fintech, DeFi, GameFi, and more: Web3 startups kick off Cointelegraph Accelerator second cohort
Sixteen startups selected from over 1000 applications will present their projects to a global audience.
Cointelegraph Accelerator, a startup booster that leverages Cointelegraph’s capabilities as a media and strategic partner, announced its second cohort launching in October 2023 for up-and-coming Web3 startups.
Selected from over 1000 startup applications, the 16 participants of the second cohort of the Cointelegraph Accelerator program represent a wide array of Web3 verticals, including decentralized finance (DeFi), fintech, wallets, entertainment, social, and GameFi.
By joining Cointelegraph’s accelerator program, Web3 startups will get marketing strategy expertise, access to Cointelegraph media products, and mentorship programs with industry experts on key start-up development topics, including token design, fundraising, legal frameworks, liquidity management, security, etc. The participants will also benefit from access to Cointelegraph’s broad network of investors, foundations, infrastructure partners, and other industry leaders.
The current cohort of the Cointelegraph Accelerator program consists of 16 Web3 startups focused on bringing innovation to the biggest sectors in the blockchain space. Find out more about them below:
DeFi and trading
In a world where traditional and decentralized finance coexist, bridging the gap between them is crucial. The latest Cointelegraph Accelerator participants focused on DeFi services are pioneering solutions to enhance accessibility, transparency, and efficiency, thus redefining trading and personal finance management for mainstream users.
Changex is a personal finance mobile app that aims to bring traditional finance users to Web3 by combining centralized and decentralized finance on a single screen. As an all-in-one self-custody wallet solution, Changex offers crypto swapping, buying, selling, and staking. The platform has 2,500 monthly active users (MAU) with over $3 million in staked assets.
CryptoRobotics is a crypto trading platform with advanced tools aimed at bringing the crypto community together. Users can utilize the signals and trading strategies coming directly from professional traders and analysts, who, in return, can earn investor rebates for providing their strategies. The platform leverages trading robots powered by smart algorithms with risk management systems to enable automated trading. The team reached over $1 billion in trading volume in 2022 with over 50,000 registered users.
Clip Finance is a DeFi protocol that aggregates and benefits from the investment strategies available to the mainstream audience and other protocols. Users can deposit their stablecoins with a single click and get yield from a pool of various DeFi protocols, including Aave, Thena, Stargate, and Biswap. The platform aims to simplify the creation of risk-analyzed yield portfolios and is currently preparing for the main launch based on feedback from the private beta phase.
Renegade is bridging the gap between traditional banking and cryptocurrencies. The user-friendly platform offers both a full IBAN account and a Visa card, allowing users to pay in top cryptocurrencies like BTC and ETH effortlessly. A central product element is the noncustodial wallet, ensuring users maintain full control over their crypto assets. After a promising beta test with 2,500 users, the company is gearing up for an open market launch in Q4 2023.
MC² Finance is a noncustodial, cross-chain token strategy platform. It aims to democratize access to on-chain crypto wealth management through easy-to-use tools and access to aggregated crypto portfolio strategies with a user-friendly UI. The European-based MC² Finance team aims to launch its mainnet after hosting over a thousand users during the platform’s testnet.
Nolus is a semi-permissioned, blockchain-powered platform that bridges lenders and borrowers in a DeFi money market. With its DeFi Lease, borrowers can secure 3x leveraged yield-generating capital. Inspired by traditional leasing, where one pays a fraction upfront and gains ownership after repayment, Nolus' approach cuts down the DeFi sector's high overcollateralization standards, which boosts capital efficiency and offers borrowers better loan terms.
Velvet Capital is a DeFi platform on the BNB Chain that helps create and manage on-chain funds and structured products. Asset managers can create portfolios of digital assets and mint synthetic tokens representing them. Users can invest in tokenized portfolios and earn yield from lending, staking, capital gains, or providing liquidity. The company offers a Web3 app for regular users and “DeFi-as-a-Service” (with SDK and APIs) for institutional clients. The platform has a live MVP with over 550 active investors.
WhiteList Zone is a marketplace where crypto investors and enthusiasts can buy “front-row seats” for upcoming Web3 projects. Its mission is to democratize the market of early Web3 investments in the most efficient and accessible way. Users can buy and trade whitelists, which grant exclusive rights to participate in launch events such as initial DEX offerings (IDOs). The platform hosts over 50 projects and over 7,000 whitelist submissions, attracting nearly 4,000 users.
Data storage and digital assets
Data sovereignty and security are paramount in the digital age. By offering decentralized data storage and robust digital asset management solutions, these projects ensure a seamless transition toward digital ownership and secure data management.
GhostDrive is a Web3 native data storage platform and user application on the InterPlanetary File System (IPFS) and Filecoin, a decentralized alternative to Google Drive where users can store, share, and access data. Users can join by logging in with MetaMask or the traditional email and password combination and start storing data in a decentralized cloud securely.
NGRAVE is the first complete solution for full control of digital assets, focusing on self-custody, maximum security, and ease of use. The hardware wallet, Ngrave Zero, is the world’s only financial product featuring a secure OS with the highest security certification: EAL7, developed with world-renowned cryptography and security experts. The company also offers its users a stainless steel encrypted backup for their keys and a mobile app to track their digital assets.
SocialFi and Marketing tech
The conventional social media landscape often overlooks fair revenue distribution and user control. However, innovative platforms are being developed to merge social interactions with financial incentives, creating a more equitable social media ecosystem for both content creators and consumers.
Pop Social is an AI-powered social gateway to Web3. The platform explores a new approach to social media where users create and share their content, interact with each other, and get rewards with native Pop Tokens for active engagement with the app. AI algorithms are used in the content creation features and in the process of generating individual post feeds. Pop Social has already reached over 250,000 downloads on the App Store and Google Play Store and has over 40,000 daily active users.
ReadON is a social app with a Web3 sharing economy where content is owned by creators, and part of the ad revenue is distributed back to them. Creators earn tokens for sharing, users earn tokens for reading, and advertisers buy and burn tokens to place ads and access users' interests targeting data. The app has reached over 510,000 user registrations and app downloads, 45,000 daily active users, and over 563,000 content pieces.
GAMI is a Web3-focused venture builder that hosts a variety of products tailored to the blockchain industry. Gami’s flagship product is Midle, an all-in-one marketing platform that helps optimize user acquisition and community engagement, working with 100+ partners from the Web3 space. Midle has already reached over 22,000 unique users who have completed over 400,000 quests.
EdTech and HRTech
Exclusivity and a lack of verified talent pools hinder the growth of the Web3 domain. Some projects, however, are working on democratizing access to Web3 solutions and education, bridging the gap between academic institutions and the blockchain industry, and facilitating continuous innovation.
Talentre is a Web3 talent platform where users have access to blockchain education courses, events, certifications, and a traceable tokenized achievement system. At the same time, Web3 companies and projects get access to a verified talent pool. More than 50 universities have already partnered with Talentre, and the platform has reached over 170,000 registered wallets and over 50 business clients, including Circle, BNB Chain, Solana, and many others.
Entertainment
Monetization and user engagement are pressing challenges in the entertainment sector. By embedding blockchain technology in streaming and gaming platforms, these innovative projects are crafting a rewarding and engaging entertainment ecosystem for modern audiences.
Replay has developed a blockchain-powered streaming service called RewardedTV that empowers viewers and creators to take control of their video streaming experience. RewardedTV uses blockchain tech to reward viewers with digital tokens and collectibles to drive engagement. The platform has over 100,000 registered users, and more than 4,000 videos-on-demand (VOD) live TV channel options, with more partnered streaming apps on the way.
Fanton is a Web3 fantasy football game playable on Telegram and integrated with The Open Network (TON) blockchain. Similar to traditional fantasy sports games, which comprise a $25 billion market, the game allows players to create their dream team with NFT cards of soccer superstars and earn points based on the players’ real-life performances. The product has had a successful launch reaching more than 11,000 registered users to date.
Google requests dismissal of AI data scraping class-action suit
Google argued in its motion to dismiss the claims that using publicly available information shared on the internet is not “stealing,” as claimed.
Big Tech player Google is seeking to dismiss a proposed class-action lawsuit that claims it’s violating the privacy and property rights of millions of internet users by scraping data to train its artificial intelligence models.
Google filed the motion on Oct. 17 in a California District Court, saying it’s necessary to use public data to train itsAI chatbots such as Bard. It argued the claims are based upon false premises that it is “stealing” the information that is publicly shared on the internet.
“Using publicly available information to learn is not stealing. Nor is it an invasion of privacy, conversion, negligence, unfair competition, or copyright infringement.”
Google said such a lawsuit would “take a sledgehammer not just to Google’s services but to the very idea of generative AI."
The suit was opened against Google in July by eight individuals claiming to represent “millions of class members” such as internet users and copyright holders.
They claim their privacy and property rights were violated under a Google privacy policy change a week before the suit was filed that allows data scraping for AI training purposes.
Related: Google updates service policies to comply with EU regulations
Google argued the complaint concerns “irrelevant conduct by third parties and doomsday predictions about AI.”
It said the complaint failed to address any core issues, particularly how the plaintiffs have been harmed by using their information.
This case is one of many that have been brought against tech giants that are developing and training AI systems. On Sept. 20, Meta refuted claims of copyright infringement during the training of its AI.
Magazine: ‘AI has killed the industry’: EasyTranslate boss on adapting to change
TrueCoin’s third-party vendor breach potentially leaks TUSD user data
TrueCoin’s internal systems were not impacted or accessed, and the company confirmed that the attack was an isolated incident and limited to a third-party vendor.
The team behind stablecoin TrueUSD (TUSD) announced a potential leak of certain Know Your Customer (KYC) and transaction history data after one of TrueCoin’s third-party vendors was compromised.
TrueCoin was the operator of the TUSD stablecoin until July 13, 2023. On Oct. 16, a third-party vendor’s security team informed TrueCoin of “an anomalous account change within [TrueCoin’s] organization made by a compromised support vendor.” As a result, TrueCoin suspects the compromise of some of TUSD’s existing customer data.
TUSD team was informed by TrueCoin that they received a third-party vendor's notification that the vendor’s Security Team detected “an anomalous account change within [TrueCoin’s] organization made by a compromised support vendor.”
— TrueUSD (@tusdio) October 16, 2023
TrueCoin’s internal systems were not impacted or accessed, as the company confirmed the attack was an isolated incident on a third-party vendor. “TUSD system is SECURE and not attacked. Both TUSD system and TUSD’s reserves are UNAFFECTED,” affirmed TrueUSD through its official X (formerly Twitter) account.
Data collected from such breaches — names, email addresses and phone numbers, among others — are typically used for phishing attacks. Attackers reach out to unwary investors by mimicking various crypto services, often promising high profits in short amounts of time.
The impact of the attack and the resultant data leak is yet to be identified, as the total number of users’ data was not revealed during the announcement.
TrueUSD has not yet responded to Cointelegraph’s request for comment.
Related: TrueUSD stops minting via Prime Trust, loses dollar peg
TrueCoin recently distanced itself from Nevada-based Prime Trust right after the latter abruptly halted all fiat and cryptocurrency deposits and withdrawals.
TrueUSD announced that “it is not affected by the situation” at Prime Trust while emphasizing its diversified partnerships and maintaining “multiple USD rails” elsewhere.
“PrimeTrust has suspended all deposits of fiat and digital assets. #TrueUSD (#TUSD) is not affected by this situation. We have no exposure to Prime Trust and maintain multiple USD rails for minting and redemption. Rest assured, all your funds are safe with TUSD,” TrueUSD stated.
Magazine: Beyond crypto: Zero-knowledge proofs show potential from voting to finance
Snapchat warned by UK data watchdog over AI chatbot risks
Snapchat received a warning from the U.K. data watchdog regarding its AI chatbot “My AI” for potentially failing to identify and address its privacy risks.
The social media platform Snapchat has received a warning from the United Kingdom’s data watchdog over its new artificial intelligence (AI) chatbot known as “My AI,” according to an update posted by the regulator.
On Oct. 6, the U.K. Information Commissioner’s Office (ICO) issued a preliminary notice to Snap Inc. and Snap Group, the parent companies of Snapchat, for the potential failure to “properly assess the privacy risks” posed by the chatbot.
We have issued Snap, Inc and Snap Group Limited with a preliminary enforcement notice over a potential failure to properly assess the privacy risks posed by its generative AI chatbot ‘My AI’.
— ICO - Information Commissioner's Office (@ICOnews) October 6, 2023
Read more about the case: https://t.co/MAuHAH0h8B pic.twitter.com/BawISttPJN
The notice is based on a provisional investigation of the company conducted by the watchdog, which said the risks to several million My AI users, including children aged 13–17, were not adequately identified before its launch.
John Edwards, the U.K.’s information commissioner, commented on the notice, saying:
“We have been clear that organizations must consider the risks associated with AI, alongside the benefits. Today’s preliminary enforcement notice shows we will take action in order to protect U.K. consumers’ privacy rights.”
According to the notice, if a final enforcement notice is issued, Snap may be forced to stop data processing in relation to My AI, which would prevent it from offering the service to U.K.-based users without an “adequate” risk assessment.
Currently, ICO said a conclusion should not be made from the current stage of investigations.
Related: Friend.tech offers login removal solutions after SIM-swap reports
Snapchat’s AI chatbot was rolled out to users of Snapchat+ in the U.K. in February 2023, with wider availability beginning in April 2023.
My AI is powered by OpenAI’s GPT-4 technology and, according to the data watchdog, was the “first example of generative AI embedded into a major messaging platform in the UK.”
Throughout the year, major social media platforms have integrated AI features into their operations. On Oct. 4, the Microsoft-owned business-focused social media platform LinkedIn announced additional AI tools available to recruiters, as well as an AI assistant in its learning center.
Big Tech giants Meta — the parent company of Facebook and Instagram — and Google have also revealed AI chatbot integrations into their service offerings.
Magazine: ‘AI has killed the industry’: EasyTranslate boss on adapting to change
How AI is changing crypto: Hype vs. reality
In the latest Cointelegraph Report, we assessed the value AI is bringing to the crypto industry, by separating the hype from real use cases.
In the latest Cointelegraph Report, we sought to find out the real value AI brings to the crypto industry beyond the hype surrounding the technology. To do so, we looked into three main areas where AI is impacting crypto: trading, data analytics, and user experience.
For many years, trading bots have allowed users to execute trades in an automated way based on certain pre-set parameters.
With the recent development of Large Language Models such as ChatGPT, AI-powered bots are capable of processing large amounts of historical data, which can be helpful in predicting future price movements.
However, despite the latest advancements, AI-powered bots are still not sophisticated enough to elaborate complex trading strategies.
“It's basically like having a bunch of dumb partners who can, who can adhere to very basic commands, but they can't do any like very complicated thinking themselves,” said Eric Crown, a professional crypto trader and YouTuber, sharing his personal experience with AI-powered bots.
Regarding data analytics, AI tools can process large amounts of public data scattered on the blockchain, providing valuable insights into the dynamics of the crypto ecosystem and assessing potential market risks.
However, a large amount of market data is kept off-chain by centralized exchanges and therefore is not publicly available. That limits the capability of AI to make accurate assessments.
To find out more about the real value at the intersection of AI in crypto beyond the hype, watch out full Cointelegraph Report on our YouTube channel and make sure to subscribe!