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Decentralize Brief – Humans and Robots are not getting along, Crypto billionaire says Bitcoin is a lie

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Crypto brief

Bitcoin
Bitcoin

African country Seychelles ranked as country with the highest number of bitcoin sent and received in Q1 of 2020

According to reports published by Blockchain analytic platform, Crystal Blockchain, Seychelles, ranked as the country with the most Bitcoins sent and received in the first quarter of 2020. The large number of bitcoin volumes is not new as Seychelles has over 70% of Africa’s domiciled cryptocurrency exchanges, according to Cipher Trace. 

Ripple’s money transfer network available in Nigeria

Ripple, the owner of XRP disclosed that it’s payment network, RippleNet is currently available in 55 countries of the world including Nigeria and XRO remittance is now possible in 5 continents. According to the source, RippleNet services are currently available in 95 currency pairs.

Group raising funds to sue Andre Cronje-Yearn.finance (YFI) founder over EMN hack. 

In spite of his decision to stay off social media, a group of angry investors is crowdfunding a lawsuit against Andre Cronje over the unreleased and unfinished Eminence (EMN) protocol and its hack. According to the information, the group revealed it is crowdfunding to sue Cronje, Yearn developer ‘banteg,’ and Twitter user and Yearn supporter Blue Kirby.According to the group, every fund realized will be used to pursue the case.

Ripple’s Larsen says US risks losing stewardship of global financial system to China, disses SEC

Ripple co-founder and chairman of the payments technology company’s board of directors- Chris Larsen has noted that China is itching to be the designer of the next financial system and that the U.S. is absolutely behind.

According to the news, during his speech at the LA Blockchain Summit last week, Larsen said the U.S. needs to realise it’s in a tech cold war with China with the fate of control of the world’s financial system at stake. Right now, China’s winning, he said. China is busy working towards achieving this while the US is completely focussed on politics.

Jeff Gundlach says “Bitcoin is a lie”

While many people are very much interested in bitcoin and cryptocurrency, billionaire investor Jeff Gundlach – who is known as  “bond king” – has laid out his thoughts regarding bitcoin and today’s financial markets. Although he denies being a legitimate “bitcoin antagonist”, his recent words reveal that he doesn’t  believe in it, and he’s convinced that the cryptocurrency is nothing like what it’s fans claim it to be.

According the information, In an interview, Jeff said: “I don’t believe in bitcoin. I think it’s a lie. I think that it’s very tracked, traceable. I don’t think it’s anonymous”.

97% of people consulted by UK financial regulator opposed crypto derivatives ban

The Financial Conduct Authority (FCA) proposed ban on crypto derivatives sales to retail investors has not been a welcomed development. According to the sources, 97% of the respondents opposed the proposal. 

AI brief

Robots 🤖

Here are some of the latest happenings in the world of AI, and believe it or not, humans and AI are getting closer, and this could make the technology smarter. 

Humans and robots are not getting along at Amazon warehouses as employees risk getting injured

An investigation launched by Reveal, a website by the Center for Investigative Reporting, reveals that employee injuries have risen, especially at Amazon facilities that use robots. Though the company claims that these robot facilities help people work better and safer, this investigation shows quite the opposite. Reveal obtained the company reports which included internal safety reports and weekly injury numbers. The data shows that in 2019, 14,000 serious injuries were recorded.

Cleaning robots that hang from the ceiling: Toyota is building heavy duty robots that can clean.

Toyota has given a closer look at the robot cleaning prototype in its California labs. The robot is being tested in mockup home home environments. The cleaning robot that hung from the ceiling like a bat, was inspired by the limited floor spaces in japanese homes. Toyota imagines a future where robots like this will be integrated into the architecture of homes. Though the idea of a robot hanging above your head sounds a little like something from sci fi, we can only wait for Toyota to launch the tech and see how people feel about it.  

When doctors and AI work together, who do we blame when things go wrong?

AI is already doing a lot in the medical line, from diagnosing cancer to helping out during surgeries and predicting sucide. AI is no Ben Carson but it’s becoming quite the doctor. Though not as much as humans, AI is still prone to error and in a field like medicine, an error could mean a lot of consequences. So, who is to blame? The doctors working directly with it, the manufacturers of the tech, or the technology itself

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Bitcoin trades above $51k ahead of El Salvador’s adoption

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Bitcoin growth

Bitcoin price has rallied above $51,000 ahead of El Salvador’s adoption. The immediate surge in price may be due to the social media campaign that everyone should buy sats of Bitcoin to support El Salvador’s plan to make the coin a legal tender or it may be due to the news of El Salvador’s adoption of the coin as a legal tender on September 7. Users of social media platforms like Twitter and Reddit are discussing how they will buy Bitcoin of $30 each to mark the new El Salvador Bitcoin law.

The surge in Bitcoin’s price began in the last 24hrs with the price rallying around $51,955 with a 3.37% increase. This is an all-time high after the April crash that brought the price of Bitcoin from $64k down to $28k. The move by El Salvador to be the first country that accepts Bitcoin as a legal tender and the social media campaign that leads to a surge in price ahead September 7 are a repetition of events that occurred late last year and early this year with regards to institutional investors and how the price of Bitcoin skyrocketed.

El Salvador, a country in Central America, has been preparing heavily to adopt Bitcoin by installing ATMs to allow citizens to convert the token into US dollars. Last week, the country’s Legislative Assembly passed a law to allow for the creation of a $150m Trust to support the conversion of Bitcoins to US dollars.

To promote the use of Bitcoin, the government states that it will give the adult population of El Salvador $30 in Bitcoin once they download “Chivo” the wallet issued by the government. This was confirmed by the Finance Minister, Alejandro Zelaya.

What this means for Bitcoin investors

Apart from the adoption by Salvadorians, on-chain analytics show that Bitcoin is in high demand. The fourth halving that occurred will make Bitcoin become a scarce token in the nearest future. Thereby increasing the price sporadically.

With El Salvador’s interest in Bitcoin, other countries are likely to follow suit- Panama is considering following El Salvador’s lead. History will repeat itself as this development will serve as another crypto rout that occurred early this year when Tesla and MicroStrategy announced their support for Bitcoin.

El Salvador’s new law allows the use of Bitcoin as a legal tender it can be used to buy goods, pay for taxes and bank loans. This means more demand for Bitcoin, with the fourth halving that occurred, it means less supply. A common rule of economics for demand and supply will apply. Prices are projected to keep rising. At the time of writing this report, Bitcoin is trading at $51,839 with a projection of $52k before the end of today and higher tomorrow when Salvadorians begin to use the token.

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Why some people thinks AI still lack common sense – Decentralize Brief Nov. 16 – Nov. 23

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Published twice a week (Mondays and Fridays), Decentralized Brief  is a curation of the most important news story in the world of Crypto, Blockchain and AI. Subscribe for the newsletter here and read our previous curations.

This week, we learn how to teach your AI to drive, why some people think AI still lacks a lot of common sense, and the vacuum cleaner that could be listening on your conversations.

Teaching robots to drive

Robots can now learn complicated tasks by just watching a couple of demonstrations that might not be even perfect. The new system designed by researchers, helps a domestic robot, for example, to learn how to do basic chores or even set the dinner table.

New test shows AI still lacks common sense

When it comes to natural language processing, AI has undoubtedly been taking great strides. However, does AI really understand what it reads? Researchers have discovered that AI still lacks a lot of common sense it needs to create plausible sentences.

Your vacuum cleaner could be listening to you

It turns out that your vacuum cleaner could be hacked and used as a listening device, since it has a microphone. A group of researchers at the Computer Science Department of the University of Maryland, recently demonstrated this.

AI has definitely come a long way, and people’s reactions to the disruptive technology, are quite mixed. Whilst some are trying to key into the technology as it is looking to be a major part of the fourth industrial revolution, others are wary of its impact. 

Mini brains that help AI feel pain and repair itself

Scientists from Nanyang Technological University, Singapore, have designed a brain for AI that will help it process and respond to pain. The system, which is considered to be a mini-brain, will help computers feel pain exerted by physical pressure. It can also help the computer do mini repairs. 

Nigerian artificial intelligence and robotics centre

Africa’s most populous country, Nigeria, has built an AI and robotics centre in preparation for the fourth industrial revolution. The centre was built in the country’s capital, Abuja. 

Pope urges Catholics to pray that AI doesn’t rebel against mankind 

One of the Pope’s prayer points for the month of November is for advanced technologies like AI to avoid rebelling against mankind. The Pope says future technologies should not cause inequality between humans, but should respect the dignity of all humans. As such, he has urged Catholics to pray that AI will always serve humankind.

Students discover a way to fool AI into changing grades.

An AI algorithm that marks essays has been outwitted. An online platform for virtual learning that uses AI to grade essays, has been discovered to actually grade based on relevant keywords. Once these keywords are in the essay, the AI gives students a perfect score. 

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Did AI predict U.S. elections correctly? Cryptocurrencies will become a Fintech trend by 2021

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Published twice a week (Mondays and Fridays), Decentralized Brief  is a curation of the most important news story in the world of Crypto, Blockchain and AI. Subscribe for the newsletter here and read our previous curations.

Hey there! Happy New Week!

In today’s curations: AI predictions for the Nov. 3 US presidential election were not accurate and we shared why cryptocurrencies will be an inevitable fintech world in 2021

Curated Samuel Attah, Bolu Abiodun ✍

Did AI correctly predict the next U.S. president

2020 US election chart
Dodo Ahanu (FLICKR)

Different AI firms have predicted the U.S. elections based on sentiments on Twitter. While most of them predicted that Joe Biden would win the election, the numbers compared to the actual polls were not very accurate. A company called KCore Analytics, used about 1 billion tweets to predict the elections, and the company was about 89.5% accurate. 

Cockroach and Lizard robots

Cockroaches and lizards have inspired the creation of a robot. The robot can swim, run on water at incredible speeds, and crawl on difficult terrains. The robot, which is known as the AmphiSTAR, is envisioned to help out with agricultural projects as well as search and rescue missions.

Training AI just the way we train dogs

A robot named ‘spot’, can now teach itself how to perform tasks the same way dogs are taught to sit, stand, roll over and do other tricks. Computer scientists at the John Hopkins University, stated that the robot taught itself to perform tasks that would have normally taken several months, in a few weeks. 

Cryptocurrency could be one of the biggest fintech trends of 2021.

Cryptocurrency like Bitcoin, Ethereum, Ripple
Cryptocurrencies (FLICKR)

The CEO of Token Metrics, Ian Balina, has said that “The most important fintech trends in 2021 will be cryptocurrencies.” Balina says bitcoin will surpass its all-time high of $20,000, and gain massive mainstream attention. With a lot of big players like PayPal, Square, Facebook and Samsung endorsing the currency, it shows that Bitcoin is mature for the mainstream.

Cryptocurrencies you can invest in before the year runs out

It has been a remarkable few weeks in the world of cryptocurrencies. We’ve seen Bitcoin on a rampage, and other currencies like Ethereum, following suit. In light of all the positivity trailing the crypto community, in no particular order, here are some of the currencies that can currently be invested.

Lunch Time Read:

  • When it comes to elections in Africa, the tales carry enough tragedy— from deep electoral malpractices to violence. Jerry Ojumah has one of such tales, and this is why he used his ingenuity and creativity to create an election process that could afford Africa a chance at the limelight.
  • Extended Reality is still a far-fetched technology, in Africa, however, it’s gradually taking a spot in countries like Nigeria.

Have a lovely week!

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Subscribe to “Decentralize Brief” and stay up-to-date on emerging tech from the world of Crypto, Blockchain and AI published Mondays and Fridays.

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