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Lower Cryptocurrency Prices Driving Innovation, Improved Security, and Heightened Adoption

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SOURCE USA News Group

 

Despite major cryptocurrency prices being down, key blockchain and cryptocurrency figure, Brock Pierce, believes that embedded within this space is a potential quadrillion dollar market. In the midst of a lower price market, plenty of new developments are arising from companies such as NetCents Technology Inc. (CSE: NC) (OTC: NTTCF), Activision Blizzard, Inc. (NASDAQ:ATVI), Overstock.com, Inc. (NASDAQ:OSTK), and even Facebook, Inc. (NASDAQ:FB).

“Security tokens are going to give birth to a quadrillion dollar market,” said Pierce in a recent interview with Forbes. “This is because we will see the tokenization of the world’s fiat money, debt market, real estate, equities, and art.”

Prior to reaching these levels, the crypto space will require leaders that can heighten mainstream acceptance of the concept. One innovator that’s rapidly expanding payment options around the world, and is NetCents Technology Inc. (CSE: NC) (OTC: NTTCF), which now supports 55 countries and 36 fiat currencies—servicing over 3 million merchants.

With prices for major cryptocurrencies such as Bitcoin being down, analysts such as Pierce see this as a period of greater innovation, and adoption.

“We’re going to see big things being built, multiple applications hitting a million users,” Pierce added. “I love the fact that prices are down. When prices are up, very little gets built because teams don’t stick around. Everyone is getting rich too quick and that de-motivates people. All the best things I’ve seen built in this ecosystem have been built in bear markets.”

For providers such as NetCents, the goal is to make merchant clients get rich quicker, and consumers save money on transactions. Incentivizing merchants is how to get adoption to happen quicker.

To achieve this, NetCents provides merchants with several appealing selling points, including low transaction fees (delivering a saves of 3-9% per transaction), instant settlements, and the ability to accept fiat, credit card, and/or cryptocurrencies equally. On average, a low-risk merchant typically faces a merchant fee between 3.5% to 5.5%, whereas a higher-risk merchant gets hit with a rate of 5.0% to 10.0%. NetCents’s merchant fee is only 1.99%—a savings of between 1.5% to 7.0% per transaction.

However, one major development that the NetCents team has put forth to bridge the gap for merchants, is its proprietary cryptocurrency credit card that pulls directly from the user’s NetCents wallet.

Usable anywhere that Visa or MasterCard are accepted, the unique credit card opens the world of cryptocurrency users to millions of merchant locations around the world. Mixing together everyday credit card transactions could be the perfect lead-in that the cryptocurrency world needs for mainstream acceptance.

But are cryptocurrencies still an investment in and of themselves?

Crypto Equity Is On The Way

NetCents has been quietly adding new currencies to its portfolio, including a recent agreement with ILO Crypto (ILOCX), which has its own platform that allows companies to raise non-equity capital through the sale of Initial License Offerings (“ILOs”).

ILOs are a revenue-based method of raising capital, that give buyers the right to promote and or sell an underlying product or service and receive royalties based on the gross revenue of the company. ILOCX has signed 54 companies to its first exchange platform allows its companies to list and sell an ILO to raise capital and enhance sales. There are currently more than 20 companies already listed on the exchange.

“The significance of this transaction is enormous for crypto holders everywhere, this partnership is giving them high quality alternative options for utilizing their capital currently locked in Bitcoin, ETH and various other altcoins,” said, CEO of ILOCX, Edward Fitzpatrick upon the agreement signing. “Hundreds of billions of dollars are sitting in crypto looking for new ways to put this capital to work, thanks to this partnership NetCents and ILOCX we can say with confidence that the era of utilization is here.”

Through the merchant agreement, ILOCX is set to use the NetCents Merchant Gateway to power cryptocurrency transactions for its capital raising services. With $300 million in deals on the exchange to date, this platform gives NetCents and ILOCX another way to tap into the hundreds of billions in crypto capital, giving crypto-holders alternative options for utilizing their capital and giving companies listing on ILOCX access to the capital they need.

Bringing Banks On Board

With banks such as JP Morgan Chase flirting with the idea of using blockchain ledgers for transactions, there is hope for acceptance from financial institutions on the horizon. In an effort to lubricate the transition, NetCents has also launched its Crypto Banking Stack (CBS), which allows for a low-cost crypto ready processing solution to be quickly implemented without the requirement for an extended and costly development cycle.

Banking clients get benefits from the CBS as well, as it will have the ability to provide account holders with the ability to convert and move balances between their crypto and fiat bank accounts. The cryptocurrencies which will be initially supported through the CBS are Bitcoin, Ether, Bitcoin Cash, and Litecoin.

Upon integration through the CBS API, financial institutions can potentially offer their customers crypto banking services accessible via their current online bank profile. These crypto bank accounts would have the same functionality as standard chequing and savings accounts.

Clients could then add various crypto accounts/wallets, transfer, deposit, withdraw, make a payment, view transactions; and the ability to link their crypto bank account to their existing debit cards—Blurring the lines between standard banking, and blockchain/crypto.

As lines blur, major companies too will look towards adopting these tech platforms that can help their businesses grow.

For a more in-depth look into NetCents Technology you can view the in-depth report at USA News Group: http://usanewsgroup.com/2018/12/12/the-sectors-that-could-change-the-way-you-view-2019/

Bigger Players Adopting Crypto In Their Own Way

Activision Blizzard, Inc. (NASDAQ:ATVI) – Cryptocurrency within gaming is not a new concept. However, for Activision Blizzard, the makers of Call of Duty, and World of Warcraft, much of its 2018 record net revenue of $7.5 billion came from what are called microtransactions. In 2017, these in-game purchases accounted for $4 billion of its total $7.16 billion over the entire fiscal year, also a record at that time. A leading revenue driver for the company was what are called CoD Points, which are a ‘premium’ currency that are acquired with real money, and can only be spent buying virtual goods inside the Call of Duty game. At the moment, CoD Points can be acquired from third-party vendors, such as Amazon, but cannot be spent elsewhere. Should the game developer open up use of this digital currency outside of the platform, it would be interesting to see where the value of the currency would go.

Overstock.com, Inc. (NASDAQ:OSTK) – Massive online retailer Overstock.com has built its name providing offerings such as home and garden products, furniture, housewares and more. However, with the launch of its new security trading platform tZERO underway, the company believes a market boom for its new product is around the corner. This alternative trading system (ATS) will use crypto tokens, and could open up the securities market to a much, much larger audience of investors from around the world. In the meantime, the tZERO dream is still dealing with regulatory questions, in order to satisfy FINRA and the SEC, who want to see them working with one broker.

Facebook, Inc. (NASDAQ:FB) – Social media giant Facebook is preparing the launch of its own version of Bitcoin, to be used in its messaging applications, WhatsApp, Messenger and Instagram. Dubbed the “Facecoin”, the new cryptocurrency could be the global technology giant’s breakthrough into the lucrative market for retail financial services. Very little is known about Facebook’s overall plans with the Facecoin, as so far there’s only a single company statement about a new group set up to look into cryptocurrencies. Media outlets have tipped small hints at the project, stating that the ambition is to explore multiple applications, and to establish Facecoin as a “stablecoin”. Facebook would have a fixed price, and the amount in circulation will vary.

Article Source:
USA News Group
http://usanewsgroup.com 
i[email protected]

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Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

Artificial Intelligence

Leo Wang, CEO of Duotech, Addresses Impact of AI on Fintech Industry During Chinese New Year Speech

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Leo Wang, CEO of Duotech, delivered a captivating speech during the Chinese New Year festivities, shedding light on the transformative power of artificial intelligence (AI) in the fintech industry. Wang’s address resonated strongly with the young professional audience, who make up nearly 70% of Duotech’s staff strength.

Wang began his speech by highlighting the significant impact AI has had on the fintech industry over the last few years. Citing recent statistics from industry reports, he noted that AI adoption in finance has surged, with an estimated 89% of financial services firms globally using AI in some form.

“The fintech landscape has undergone a profound transformation fuelled by AI technologies,” Wang stated. “From algorithmic trading to fraud detection, AI has revolutionised traditional financial practices, enhancing efficiency, accuracy, and security.”

Wang referenced another study which revealed that AI-powered solutions have contributed to a 20% reduction in costs and a 30% increase in revenue for financial institutions. “These statistics underscore the tangible benefits AI brings to the table, driving innovation and profitability in the fintech sector,” Wang added.

In his speech, Wang encouraged the younger generation to embrace AI technologies, emphasising the immense opportunities for growth and innovation in the evolving fintech landscape. He urged them to stay up to date on industry advancements and leverage AI skills to drive positive change within their organisations.

Furthermore, Wang showcased Duotech’s cutting-edge AI solutions tailored for the finance industry, designed to enhance trading strategies, bolster cybersecurity, and streamline compliance processes.

Wang concluded his speech by reaffirming Duotech’s commitment to driving innovation in the fintech industry through AI-powered solutions. “At Duotech, we’re dedicated to leveraging AI to revolutionise finance and empower the younger generation to shape the future of our industry,” he said.

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Artificial Intelligence

WeLASER, CLOSER TO PESTICIDE-FREE AGRICULTURE

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After 3 years of work, an international partnership has realised a precision weeding tool proving that herbicide free agriculture is at hand.

The partnership formed by research centres, universities, private companies and farmers’ organisations from SpainGermanyDenmarkFrancePolandBelgiumItaly and the Netherlands, by WeLASER project funded by the EU within its “Horizon 2020” programme, has completed the first stage of the development of the a precision weeding prototype tool that allows progress in eradicating the use of herbicides, improving the productivity and competitiveness of crops, thus eliminating health risks and the adverse environmental effects of chemicals.

The prototype includes an autonomous vehicle that drives through the crop and is equipped with an advanced detection system based on artificial intelligence (AI) through image acquisition and data processing, which allows it to distinguish and localize the centre of growth of the weed to be eradicated. Once targeted through the scanner, it directs the high-powered fibre laser source to that meristem. This fast modulation concept allows precise energy pulses to be directed for highly efficient weed treatment. Data management are managed by a cloud computing architecture and the system includes the IoT technology.

Although this project is currently concluding this first phase of development, further work will be needed, for example, to reduce the time required to work in the field, to make the prototype easier to handle and connect, and to reduce production costs in order to achieve a marketable model on the market.

A project of maximum cooperation between entities from all over Europe

WeLASER is the result of the cooperation of 10 partners from 8 EU member states. On the Spanish side, the Centro de Automática y Robótica (CAR) belonging to the Consejo Superior de Investigaciones Científicas (CSIC) and coordinator of the project and the Coordinadora de Organizaciones de Agricultores y Ganaderos (COAG); on the German side, the Laser Zentrum Hannover e.V. (LZH) and the company Futonics Laser GmbH (FUT); from Denmark, the Department of Plant and Environmental Sciences of the University of Copenhagen (CPH); from France, the company AgreenCulture (AGC); from Italy, the Interdepartmental Centre for Industrial Agri-Food Research of the University of Bologna (UNIBO); from Poland, the Instytut Ekologii Terenów Uprzemysłowionych (Institute of Ecology of Industrial Areas) (IETU) in Katowice; from Belgium, the Department of Agricultural Economics of the Faculty of Biosciences Engineering of the University of Ghent; and from the Netherlands (UGENT), Van Den Borne Projecten BV, the innovation department of the Van Den Borne Aardappelen (VDBP) farm located in Reusel.

For Pablo González de Santos, from the CSIC’s Centro de Automática y Robótica, coordinator of the project, “WeLASER has been a perfect collaboration between leading organisations in each of their fields of work, which has made it possible to have the latest technologies and advances necessary for the development of such a cutting-edge and necessary project”.

Beyond the development of the prototype, this project has resulted in the development of different innovations with multiple applications such as a high-power fibre laser source for the control of adventitious weeds through precise energy pulses, with an innovative pump and cooling concept that minimises the energy demand of the laser for the weeding process; an improved power supply system for autonomous robotic platforms; an intelligent navigation manager for autonomous robots applicable to precision farming that enables navigation throughout the farm, not limited exclusively to the crop field and integrates different Artificial Intelligence (AI) methodologies to identify various types of crops, including wide and narrow crops; and an AI-based laser weed control implement that enables a wide working range for individualised plant treatment in crops of different types, while complying with all safety regulations required for working with laser technology.

Ensuring food production on a safe planet

Faced with an increasingly growing population in an environment of climate change like the one we live in, humanity´s great challenge is how to guarantee food production without harming the environment or the health of the population with increasingly efficient and less polluting production systems.

In Europe alone, around 130 million tonnes of synthetic herbicides are used each year (not counting other chemicals), substances which, when applied, do not discriminate between beneficial plants and insects in the soil that are not their target and which, moreover, can have effects on the health of animals and humans.

In addition, weeds are developing resistance, which means that existing herbicides are becoming less and less effective.

For González de Santos, “The WeLASER consortium is motivated to adopt smarter farming methods and build more sustainable food production systems while preserving the environment and health. WeLASER opens up a reliable and safe option and offers breakthroughs to solve a global problem”.

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Artificial Intelligence

Huawei and MDES Signed MoU to Establish Thailand as a Regional AI Hub

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Huawei Cloud Thailand, in collaboration with Thailand’s Ministry of Digital Economy and Society (MDES), today hosted the Huawei Cloud AI Summit Thailand 2023. The event brought together hundreds of government representatives, industry experts, local customers, partners, and Chinese enterprises to discuss Thailand’s AI development and digital transformation. During the summit, Huawei Cloud and MDES signed a memorandum of understanding (MoU) on digital development with the aim to provide support towards AI development, industry applications, ecosystem building, and talent cultivation. This partnership will help Thailand establish itself as a regional AI hub through digitalization.

In his keynote address, H.E. Mr. Prasert Jantararuangtong,Minister of Digital Economy and Society of Thailand, explained that MDES aims to drive forward Cloud-First policies as the new growth engine of Thailand and believes that cloud and AI are the future of the country: “As a representative from MDES, I would like to thank Huawei Thailand for taking the leading role within the private sector in setting up this important event and bringing the global experience of Huawei and its partners to Thailand, as well as for helping foster the country’s cloud and AI digital ecosystems. Through cooperation with private sector partners like Huawei, we will continue to promote Thailand as an AI hub of the region. MDES will fully support the country to accelerate digital transformation, cultivate talents, achieve economic sustainability, and enhance the overall quality of life for Thai people.”

Sarana Boonbaichaiyapruck, Clinical Professor and Chairman of National Broadcasting and Telecommunications Commission (NBTC), stated that the event witnessed the fast development of cloud and AI technology. As a Thai regulator, NBTC will take could and AI into consideration for policy making to digitalize the Thai society and economy.

In Thailand, for Thailand: Establishing Thailand as a Regional AI Hub

AI stands as a driving force behind the current wave of global technological advancements and industry transformations, creating a profound impact on human society and reshaping industries. By recognizing AI’s transformative potential, Thailand remains committed to enhancing its global competitiveness by strengthening its AI capabilities and becoming a regional AI hub. Huawei Cloud is proud to support this vision through its ‘In Thailand, for Thailand‘ commitment.

David Li, CEO of Huawei Thailand, highlighted Huawei Cloud’s commitment to enabling cloud and AI development in Thailand: “Huawei Cloud is firmly dedicated to its ‘In Thailand, for Thailand‘ commitments and has personally witnessed, contributed to, and benefitted from Thailand’s digitalization over the past two decades. Thailand now finds itself at a critical juncture in its digital transformation journey. Recognizing this, Huawei Cloud remains steadfast in its commitment to invest in the local cloud ecosystem and its capabilities. By building a robust digital foundation in Thailand and constructing AI infrastructure for the government and enterprises, Huawei Cloud is empowering the nation to harness the transformative power of AI. This will in turn lead to the proliferation of AI applications across industries, ultimately benefiting Thai people and driving the country’s digital progress.”

At the summit, Huawei Cloud served as a bridge between Chinese and Thai enterprises with the aim of empowering Thailand with advanced AI technologies, applications, and expertise from China. By leveraging its extensive localization experiences in over 170 countries and regions, Huawei Cloud is ready to provide valuable insights into global and regional industries and now stands as the preferred partner for Thai enterprises seeking global expansion and for Chinese enterprises venturing into the Thai market.

Huawei Cloud: A Better Cloud for Thailand

With its cutting-edge technologies and industry expertise, Huawei Cloud aims to build the cloud foundation for an intelligent future, providing better options for each customer. At the summit, Huawei Cloud showcased a range of cutting-edge AI solutions and models specifically tailored to Thailand’s needs, including models for the Thai language, meteorology, government, and AI solutions for the finance and retail sectors.

Huawei Cloud’s government model brings intelligence to government processes and city affairs, from perception and understanding to handling and decision-making. Citizen’s requests can be assigned automatically and managed round the clock, enabling governments to deliver high-quality services without concerns about human resource shortages.

The Thai language model, trained on Thai corpus and converged with Huawei’s industry knowledge accumulated over three decades, continuously optimizes by learning massive amounts of the Thai language data. This breakthrough removes language barriers to accessing foundation models, allowing Thailand to transition from an AI user to an AI creator.

In meteorology, Huawei Cloud collaborated with the Thai Meteorological Department to develop its Pangu weather model for Thailand in an endeavor to deepen the digitization of Thailand’s agricultural and tourism sectors. The model has already surpassed current state-of-the-art numerical weather prediction (NWP) methods with prediction speeds several orders of magnitude faster. In the past, predicting the trajectory of a typhoon for the next 10 days took 5 hours. Now, the Pangu weather model can do the same calculations in just 10 seconds.

Talent is indispensable for AI transformation, but their acquisition requires concerted efforts from both the public and private sectors. At the summit, Huawei Cloud, MDES, the Digital Economy Promotion Agency (depa), universities such as Chulalongkorn University, AI associations, enterprises, and partners came together to launch the Cloud & AI Community Thailand. This collaborative initiative aims to nurture AI technology development and cooperation, ultimately elevating Thailand’s presence in the global AI landscape.

Equipped with a robust portfolio of innovative AI technologies, extensive industry expertise, and exceptional customer service, Huawei Cloud is poised to support Thailand in its quest to become a prominent AI hub in the region. Through sustained investments in the local ecosystem and industries, Huawei Cloud demonstrates its unwavering commitment to fostering the high-quality growth of Thailand’s digital economy.

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