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Webtel.mobi Clarifies the Differences Between Its TUV Digital Currency and Cryptocurrencies

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3 years ago

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NEW YORK and ST PETER PORT, Guernsey, Oct. 08, 2021 (GLOBE NEWSWIRE) — In response to multiple enquiries received by Webtel.mobi (“WM”) regarding its TUV Digital Currency and its relationship to Cryptocurrencies, the following clarification on the differences between Cryptocurrencies and the TUV Digital Currency, has been provided by WM.

Cryptocurrencies
Cryptocurrencies are not currencies in anything but name. Rather, they are Retail Speculative Commodities.

That is, they are Retail Commodities with no inherent value at all in, and of, themselves, other than a perception, among a limited group of adherents, that they have value (i.e., like the stamp-swapping market).

For Commodities with a baseline characteristic that their inherent value is zero; as soon as the perception of their value fails (due to regulatory requirements or introduction of a product that cancels out their perceived utility) their value returns to zero.

They are Speculative because they are, chiefly, acquired by persons with the hope their value will increase, and people will make money from them. However, as to where the value lies – it should be noted that speculative acquisition of Cryptocurrencies is not predicated upon how much more (crypto)coins one will gain from a rise price rise – but by how many dollars one will gain from a price rise. That is, even their adherents use Cryptocurrencies as a way to gain more money – which they see as the ultimate store of value.

The establishment of the price or value of Cryptocurrencies is driven solely by the fact there will only ever be a limited number of coins “mined” (made). This is the pure application of the principle of “Artificial Scarcity”. Artificial Scarcity is a term denoting specific characteristics – the details of which can be found online (or in the ‘Resources’ section of this article).

The variation in speculative value is driven by application of the principle of “Artificial Demand” – also a term denoting specific characteristics that can be found in an online search (or also in the ‘Resources’ section of this article). That is, its rise or fall in value is due (primarily) to media exposure usually geared towards advertising the potential for, and of, the gain of more money by speculative means – not due to any inherent quality of use or utility.

Due to the very principle that causes their perception of value to arise. (Artificial Scarcity), Cryptocurrencies can never be used in anything other than a limited “collectors” market.

As an example, if one takes the most successful Cryptocurrency that exists, applies a generous stable value to its total coin value – from the very first one of its coins mined to the very last one in its limited range – of USD 50 000.00, due to the limited number that will ever be “mined” (made), the total value of all of these coins in circulation will only be just over USD 1 Trillion (and, to be generous, one can even double, triple or multiply that number times 10).

However, just the annual settlement requirements in Gross Payments for Global FX requires a currency pool of USD 4 862 Trillion – and there are several markets that have a similar or larger annual volume.

This example demonstrates that the total value that can ever exist of the total number of (artificially made scarce) Cryptocurrency coins in circulation is so tiny and miniscule in comparison, that the market for Cryptocurrencies can never even be considered as being anything other than that which it is.

That is, a limited market of collectors and speculators, who have an interest in speculating – whether it be in the production / marketing / transactions / sale / acquisition roles – with a specific Retail Speculative Commodity – whether that commodity be stamps, Cryptocurrencies or any of the various and multiple other such items that are held as being of value by adherents.

To its adherents and those who engage in speculative trading with it, a Cryptocurrency’s perceived value will be X – until the perception of its value is lost, whereupon it baseline value will return to zero. Outside of the circle of adherents and speculators, its value will always be zero.

WM’s TUV Digital Currency
WM’s TUV Digital Currency is not itself a Digital Currency. It is rather a Digital vehicle for any currency or currencies.

The TUV itself is an instrument that digitally represents the value in a specific currency, of which 100% reserves of that specific currency are held in a regulated bank account.

The currency of which the TUV represents value can be converted to any other currency – whereupon the TUV will be the Digital vehicle for the currency and value that it has been converted to.

Consequently, a TUV is, simultaneously:

  1. Not a de-jure currency.
  2. Is equal to the specific currency that it holds the value for.
  3. Can be converted to any World Reserve Currency or other WM Platform currency.

As such, it is none of, any of and all of the World Reserve Currencies and WM Platform Currencies, all at the same time.

More details of the TUV’s characteristics can be viewed from the “TUV Characteristics” link in the Resources Section of this article. However, a brief top-level view of some of the characteristics of the TUV Digital Currency – and its differences to a Cryptocurrency – is listed below:’

  • The company providing the TUV – and the TUV – function from within the telephony regulatory environment, with the TUV being a dual-use Telephony-Support product, the added functionality of which is brought about by the Artificial Intelligence Complex Adaptive System that powers the WM Platform.
  • The TUV is not a speculative instrument – rather a 100%-backed Digital representation of the currency for which it is valid.
  • The currency reserves that back a TUV can be refunded on demand to the regulated bank account of its owner (subject to standard international KYC and AML requirements) for the provision of source of funds / transaction type if the owner received a TUV in a transfer as opposed to loading the funds (“Stored Credit” for it himself / herself).
  • A TUV is a Digital Currency equivalent providing global transferability, acceptability, redeemability, convertibility between currencies, convertibility back to its value currency and all other characteristics of currency or money.
  • A TUV possesses the utility and ease of use of both cash and digital currency combined, while having security, usability, transferability, and other characteristics that are superior to both cash and digital currency.
  • A TUV permanently retains its stable value in respect of the currency that it is valued in, and provides a hedge against currency depreciation or inflation due to it being able to be converted to another currency at any time.
  • A TUV is free to acquire and to utilize.
  • In the near future, the Secured (gold-backed) TUVs will be able to be redeemed either for the amount of currency for which they are valued, or by the physical gold which they are backed by (details of the Secured TUV are in the resources section of this article).

In Summary, a TUV Digital Currency bears no resemblance to or relationship with a Cryptocurrency – other than the basic elements of Cryptocurrency Blockchain, Distributed Ledger and Private Keys are also part of the TUVs’ security structures. However, these three elements are – for the TUV – very basic security elements, and are far surpassed by dozens of personal, system, processes, and other additional security and structural attributes.

Resources:

Media Contact:
Nick Lambert: [email protected]

Overview of the principle of “Artificial Scarcity”:
https://en.wikipedia.org/wiki/Artificial_scarcity

Overview of the principle of “Artificial Demand”:
https://en.wikipedia.org/wiki/Artificial_demand

Characteristics of WM’s TUV Digital Currency:
https://webtel.mobi/info/tuv-characteristics/

Information on WM’s “Secured TUV” Digital Currency:
https://webtel.mobi/info/my-secured-tuvs/

Information on WM’s “Smart TUV” Digital Currency:
https://webtel.mobi/info/my-smart-tuvs/

Video on the Capacities of the WM System:
https://youtu.be/XYBrCikUhn8 

Research Reports on the Capacities of the WM System:
https://tinyurl.com/TUVresearch

WM’s urls:
https://webtel.mobi/pc (Tablets / Laptops / Desktops)
https://webtel.mobi (Smart Phones)
https://webtel.mobi/wap (Pre-Smart Mobile Phones)

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d2430ed5-d51a-4706-92cf-4c762e488b47

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

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GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

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Sasken and JOYNEXT forge strategic partnership to accelerate innovation and expand global footprint

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54 mins ago

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April 16, 2024

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BANGALORE, India, April 16, 2024 /PRNewswire/ — Sasken Technologies Limited, a leading provider of product development and digital transformation services, and JOYNEXT, a respected Tier1 player in the automotive industry, announced a strategic partnership to collaborate on the development and launch of cutting-edge platforms for both in-vehicle systems (navigation, digital cockpit and 5G telematics) and off-vehicle cloud and digital services leveraging emerging technologies for the automotive industry.

Sasken and JOYNEXT will leverage their complementary expertise, global presence, and strong ecosystems to deliver innovative and integrated solutions to the automotive industry. This collaboration will enable faster time to market with the best IPs and provide unparalleled support throughout the product development process. By combining JOYNEXT’s proven advanced automotive solutions with Sasken’s innovative automotive hardware and software capabilities, including chip-to-cloud cognitive engineering, connected car solutions, optimised edge computing solutions, computer vision, generative AI, and cybersecurity, the partnership aims to address the complex needs of the automotive market while delivering enhanced customer experiences.
“We are excited to collaborate with JOYNEXT, as their automotive industry expertise aligns perfectly with Sasken’s ambition to maintain a leadership position in the global automotive market,” said Mr. Abhijit Kabra, CEO, Sasken Technologies. “By leveraging our respective strengths, we can provide unique value to our customers and accelerate technological advancements in the automotive industry.”
The partnership began with a multi-year collaboration focused on automotive software maintenance for navigation and ASPICE compliance. It also includes the definition and implementation of enhancements for new products to keep pace with evolving Software Defined Vehicle (SDV) architectures. Sasken will drive the initiative to address EV challenges such as range anxiety, compatibility with navigation ecosystem players, increasing driver confidence by incorporating real-time data on charging points, driving terrains and integration with ADAS systems. Proprietary algorithms will optimise battery range for safer, more efficient journeys.
“We at JOYNEXT are excited to join forces with Sasken,” said Stavros Mitrakis, CEO of JOYNEXT. “By leveraging Sasken’s strong hardware and software capabilities and our extensive automotive domain knowledge, we will be able to develop solutions that not only address today’s challenges, but also anticipate the needs of the future. We are confident that this partnership will enhance our product offering and enable us to deliver more innovative, safer, and more enjoyable driving experiences to our customers.”
The aim of the partnership between Sasken and JOYNEXT is not only to push the boundaries of product innovation, but also to ensure that products reach the market more efficiently, equipped with the latest technology and tailored to meet the ever-changing demands of consumers.
About Sasken:
Sasken is a specialist in Product Engineering and Digital Transformation providing concept-to-market, chip-to-cognition engineering R&D and Digital Transformation services to global leaders in Automotive, Semiconductor, Transportation, Industrials, Consumer Electronics, Enterprise Devices, SatCom and Telecom industries. For over 30 years and with multiple patents, Sasken has transformed the businesses of 100+ Fortune 500 companies, powering more than a billion devices through its services and IP. For more information, visit www.sasken.com 
JOYNEXT – WE CONNECT FUTURE
JOYNEXT is a leading AutoTech company, the Automotive Connectivity Business Unit of Joyson Electronics. Headquarters in China, JOYNEXT marks our global presence in Germany, Poland, France, US, Japan, etc. We develop technologies for intelligent connected vehicles and provide a highly personalized mobility experience that is empathic, safe, and adaptable. Our 1,500+ employees work at 7 R&D centers, 3 global manufacturing locations, and 4 customer canters around the world.
For more than two decades, JOYNEXT has been working as the development partner and system supplier of renowned car manufacturers and established long-term partnerships with various well-known OEMs. Our intelligent cockpit and smart connectivity products are equipped in millions of vehicles worldwide, complemented by our capabilities in developing autonomous driving technologies and software products, which lay a solid foundation for the cockpit and driving fusion facing the era of Central Computing Units.
Balancing innovation with sustainability, we are committed to contributing to industry transformation together with our eco-partners, such as Microsoft, HUAWEI, Qualcomm, Horizon Robotics, Black Sesame, Elektrobit, and QNX to deliver a smarter driving experience for end users. www.JOYNEXT.com
Media Contact:Rekha Sahay GhoshHead of Marketing & CommunicationsE: [email protected]: +91 080 6694 3009
Sasken Technologies Limited139/25, Ring Road, Domlur, Bengaluru 560071, IndiaT: +91 80 6694 3000, E: [email protected]: L72100KA1989PLC014226 | www.sasken.com
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Artificial Intelligence

IDnow bridges the AI-human divide with new expert-led video verification solution

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54 mins ago

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April 16, 2024

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New VideoIdent Flex elevates trust with a human touch in the face of rising fraud and the closing of physical bank branches
LONDON, April 16, 2024 /PRNewswire/ — IDnow, a leading identity verification provider in Europe, has unveiled VideoIdent Flex, a new version of its expert-led video verification service that blends advanced AI technology with human interaction. The human-based video call solution, supported by AI, has been designed and built to boost customer conversion rates, reduce rising fraud attempts, increase inclusivity, and tackle an array of complex online verification scenarios, while offering a high-end service experience to end customers.

The company’s original expert-led product, VideoIdent, has been a cornerstone in identity verification for over a decade, serving the strictest requirements in highly regulated industries across Europe. VideoIdent Flex, re-engineered specifically for the UK market, represents a significant evolution, addressing the growing challenges of identity fraud, compliance related to Know-Your-Customer (KYC) and Anti-Money Laundering (AML) processes and ensuring fair access and inclusivity in today’s digital world outside of fully automated processes.
Empowering businesses with flexible human-based identity verification
As remote identity verification becomes more crucial yet more challenging, VideoIdent Flex combines high-quality live video identity verification with hundreds of trained verification experts, thus ensuring that genuine customers gain equal access to digital services while effectively deterring fraudsters and money mules. Unlike fully automated solutions based on document liveness and biometric liveness features, this human-machine collaboration not only boosts onboarding rates and prevents fraud but also strengthens trust and confidence in both end users and organisations. VideoIdent Flex can also serve as a fallback service in case a fully automated solution fails.
Bertrand Bouteloup, Chief Commercial Officer at IDnow, commented: “VideoIdent Flex marks a groundbreaking advancement in identity verification, merging AI-based technology with human intuition. In a landscape of evolving fraud tactics and steady UK bank branch closures, our solution draws on our decade’s worth of video verification experience and fraud insights, empowering UK businesses to maintain a competitive edge by offering a white glove service for VIP onboarding. With its unique combination of KYC-compliant identity verification, real-time fraud prevention solutions, and expert support, VideoIdent Flex is a powerful tool for the UK market.”
Whereas previously firms may have found video identification solutions to be excessive for their compliance requirement or out of reach due to costs, VideoIdent Flex opens up this option by customising checks as required by the respective regulatory bodies in financial services, mobility, telecommunications or gaming, to offer a streamlined solution fit for every industry and geography.
Customisable real-time fraud prevention for high levels of assurance
VideoIdent Flex has a number of key features and benefits:
Customisable: Pre-defined configurations to meet specific industry requirements and regional regulations.Expert-led: High-quality live video verification conducted by trained identity verification experts, ensuring accuracy, reliability, and compliance for high levels of assurance.Extensive document coverage: Support for a wide range of documents, facilitating global expansion and inclusivity.Real-time fraud prevention: Advanced fraud detection capabilities, including AI-driven analysis and manual checks, combat evolving fraud tactics and help protect against social engineering fraud, document tampering, projection and deepfakes, especially for high-risk use cases and goods.Verification of high-risk individuals: Reviewing applications from high-risk persons, such as Politically Exposed Persons (PEPs), high-risk countries; or assessing where fraud might be expected with real-time decisions, without alerting suspicion.Bouteloup concluded: “Identity verification is incredibly nuanced; it’s as intricate as we are as human beings. This really compounds the importance of adopting a hybrid approach to identity – capitalising on the dual benefits of advanced technology when combined with human knowledge and awareness of social cues. With bank branches in the UK closing down, especially in the countryside, and interactions becoming more and more digital, our solution offers a means to maintain a human relationship between businesses and their end customers, no matter their age, disability or neurodiversity.   
“VideoIdent Flex is designed from the ground up for organisations that cannot depend on a one-size-fits-all approach to ensuring their customers are who they say they are. In a world where fraud is consistently increasing, our video capability paired with our experts adds a powerful layer of security, especially for those businesses and customers that require a face-to-face interaction.”
About IDnow
IDnow is a leading identity verification platform provider in Europe with a vision to make the connected world a safer place. The IDnow platform provides a broad portfolio of identity verification solutions, ranging from automated to human-assisted from purely online to point-of-sale, each of them optimized for user conversion rates and security.
In 2021, IDnow acquired the French market leader for identity technology, ARIADNEXT, and the German identity Trust Management AG, enabling IDnow to offer its customers one of the broadest identification solutions through a single, integrated platform.
The company has offices in Germany, United Kingdom, and France and is backed by renowned institutional investors, including Corsair Capital and Seventure Partners. Its portfolio of over 900 international clients spans a wide range of industries, and includes leading international players, such as UniCredit, Telefonica, Sixt, Crédit Agricole, BNP, and Munich Re, as well as digital champions like N26, Solarisbank, Younited Credit, BoursoBank, Klarna and Tier mobility.
Press contact IDnowKatherina [email protected]+49 89 41324 6030
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MYCOM OSI Launches AInsights Availability in AWS Marketplace

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54 mins ago

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April 16, 2024

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LONDON, April 16, 2024 /PRNewswire/ — MYCOM OSI, a leading independent provider of Network Assurance and Service Experience Assurance solutions to some of the world’s largest communications service providers (CSPs), announced today that AInsights, is now available in AWS Marketplace, a digital catalog with thousands of software listings from independent software vendors that make it easy to find, test, buy, and deploy software that runs on Amazon Web Services (AWS). 

AInsights application offers predictive AI-based insights, combined with a comprehensive Data Fabric that powers Big Data Lakes with normalized network and service data. This critical enhancement to MYCOM OSI’s EAA suite enables CSPs to continuously predict the performance of their network and services, and to proactively identify and resolve problems before they impact their customers. This is specifically essential for the delivery and the assurance of high reliability and low latency 5G enterprise services.
The MYCOM OSI AInsights application is available as part of its SaaS offering operated on Amazon Web Services (AWS) as well as the CSPs’ hybrid cloud architecture. With this, MYCOM OSI customers and partners will benefit from high scalability and low-error predictive data insights from the network and its services in near real-time. AInsights’ replicable data models can be applied to different network functions for a deeper 360-degree network view. A factory approach using Open APIs enables intelligent data to be consumed seamlessly by any component of the CSP ecosystem.
AWS customers will now have access to AInsights, enabling predictive operations and assurance of CSP networks, directly within AWS Marketplace. This provides AWS customers with the ability to streamline the purchase and management of AInsights application within their AWS Marketplace account. 
“We are delighted to offer AInsights’ unique AI-driven insights to communications service providers to support their growth and transformation plans through AWS Marketplace,” said Mounir Ladki, President and CTO at MYCOM OSI. “With AInsights, CSPs can rapidly move from reactive to predictive assurance and operations of their networks and services. By accessing AInsights in AWS Marketplace, customers can quickly take their first step in achieving benefits of predictive AI-based insights to automate network operations and maximize customer experience.”
AInsights is now generally available in AWS Marketplace. Please visit https://aws.amazon.com/marketplace/pp/prodview-p4ikrghvc24dq for more information.
For information on MYCOM OSI and its Service Assurance offerings please visit www.mycom-osi.com. To arrange a discussion with MYCOM OSI, click here or contact the team at [email protected], +447719820492

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