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Paris Saint-Germain begins Web3 drive as a new blockchain validator for Chiliz Chain

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The French football club aims to explore various avenues in the cryptocurrency sector, starting with becoming an infrastructure provider to Chiliz Chain.
French football giant Paris Saint-Germain (PSG) is set to deepen its Web3 and SportFi involvement by becoming a validator for fan token blockchain Chiliz.
Cointelegraph recently traveled to Paris to speak exclusively to Chiliz founder Alexandre Dreyfus and PSG head of Web3 Pär Helgosson about the evolving partnership between the football club and the blockchain platform.
PSG is the first major football club to become a blockchain protocol validator and is set to reinvest revenue generated as a validator to buy back PSG tokens. The move is touted as a way to create a self-sustaining digital economy for the club and its fan base.
The Chiliz Chain is the infrastructure underpinning Socios, the platform that issues and manages fan tokens for over 150 professional football clubs and sports teams. PSG was an early adopter of the technology and launched its fan token on Chiliz in September 2018.
The club intends to explore opportunities in the broader cryptocurrency, Web3 and SportFi spaces, with Helgosson spearheading the efforts.
Venture capital firm Animoca Brands joined Chiliz Chain as a validator of its proof-of-stake protocol in November 2023 after Chiliz revamped its tokenomics model. Chiliz introduced a new inflation-staking rewards mechanism for CHZ holders and the integration of the transaction fee protocol burning scheme EIP-1559.
PSG gets first shot at token buy-back mechanism
Helgosson told Cointelegraph that PSG will use its accrued revenue as a node validator to carry out PSG fan token buybacks from public marketplaces. The buybacks will be automated and executed by smart contracts through its validator and on decentralized exchanges on the Chiliz Chain.
The program aims to increase revenue from the club’s validator through gas fees and supply inflation that are reinvested into PSG tokens. The club is interested in refreshing its token reserves to create a self-sustaining economy:
“We’re aiming to build a sustainable tokenomics model together where the club, because of our role as a node validator, can use the profits to buy back fan tokens and use them to reinvest back into the fan ecosystem.”
Helgosson says the move is expected to provide rewards, new utilities, functions, products and services that will benefit PSG tokenholders, sponsors and players.
PSG and Chiliz are also planning a blockchain hackathon hosted at the club’s iconic Parc des Princes stadium in the summer. The event aims to attract developers to build decentralized applications and products incorporating PSG tokens on the Chiliz Chain.
An alternative for sports organizations
Dreyfus tells Cointelegraph that PSG’s move to become a validator could be a catalyst for other clubs to follow suit and better understand how the ecosystem’s tokenomics work.
“As for the drawcard, PSG is going to play an active role in the operations of the Chiliz ecosystem, meaning they will help build trust and attract more brands and developers, also by co-hosting hackathons with us at their stadium,” Dreyfus explained.
Chiliz and Socios have been focused on building products and experiences for the broader sports industry. Dreyfus believes that its protocol needs stakeholders from the space to participate in its governance and ongoing operation.
The Chiliz founder says his long-term goal is to have dozens to hundreds of validators comprised of sports organizations, fan-owned nodes and cryptocurrency firms. The hope is that PSG’s move will prompt other major clubs to consider becoming node operators.
“This is a new income source for them, diversification, but also being part of the network effect brings value to everybody involved.”
PSG’s Web3 play
Off-the-record conversations with Helgosson reveal that PSG is ambitiously exploring a multitude of ways to diversify revenues and offerings in the cryptocurrency and blockchain ecosystem.
The club’s investment in becoming an infrastructure operator of Chiliz blockchain marks the start of its moves to actively participate in the Web3 ecosystem. PSG has explored and launched several nonfungible token collections, some of which offer exclusive rewards to holders.
Helgosson would not disclose the details of its investment or capital allocation for the Chiliz node-as-a-service partnership but said the club intends to actively engage and reinvest with its Web3 partners.
He highlighted that being a node validator is a core component in building a sustainable tokenomics model for the Paris Saint-Germain Fan Token ecosystem and Chiliz.
Source: CoinTelegraph
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Eddid ONE and Eddid ONE USA Expand Global Coverage

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Eddid Financial (“the Group”) announces that its intelligent trading application Eddid ONE and the premier US stock trading application Eddid ONE USA* have expanded their global coverage to 22 countries and regions. The apps are now officially launched on Google Play and App Store in respective markets, providing clients with advanced and convenient proprietary intelligent services.
The apps are now available in 22 key global markets across six continents, including Hong Kong, the United States, the United Kingdom, Australia, Taiwan and Japan. Going forward, expansion plans are in place to reach additional emerging markets as the Group continues building out its global network.
Eddid ONE and Eddid ONE USA* have long been favored by the market for their clean interface and versatile functions. Specifically, Eddid ONE includes AI assistants in addition to real-time market data, proprietary trading strategies, research reports etc., but also come with AI assistants. Utilizing big data and AI technologies, the assistants provide personalized intelligent services, including predicting market trends and target stock prices to cater to diverse investor needs.
Clients can now keep abreast of the latest global market developments anytime, anywhere by using Eddid ONE and Eddid ONE USA*. This allows them to enjoy the Group’s one-stop proprietary intelligent trading services no matter where they are. Going forward, Eddid Financial will continue leveraging its leadership in fintech innovation to further enhance Eddid ONE and Eddid ONE USA*, with the commitment to deliver an even more comprehensive, efficient and secure financial services experience.
* *Always consider the risks when investing.
The post Eddid ONE and Eddid ONE USA Expand Global Coverage appeared first on HIPTHER Alerts.

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Gcore Recognised as Highly Commended in the Industry Innovator Category at the EMEA NVIDIA Partner Network Awards

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Gcore, the global edge AI, cloud, network, and security solutions provider, today announced its recognition as ‘Highly Commended’ in the Industry Innovation category at the NVIDIA Partner Network Awards EMEA 2024 for its groundbreaking Speech-to-Text Translator.
The NVIDIA Partner Network Awards celebrate the exceptional contributions of partners exhibiting outstanding efforts, unwavering commitment, and innovative spirit in accelerated computing and AI. The Industry Innovation Award recognises partners who have spearheaded transformation within a specific industry or field.
Gcore used artificial intelligence to launch the first advanced machine learning model for speech-to-text translation from English to Luxembourgish. The model can be used to translate entire recordings for various mediums, including theatre, film, or music, from English into Luxembourgish text – for example, in the form of film subtitles.
Gcore is currently working on enabling real-time translations for use during conferences and events. The company’s future plans also include adding other commonly used languages in Luxembourg, such as French and German, to the translation tool, making speech-to-text translation a key mode of cross-language communication.Speech-to-Text Translator is part of Gcore’s state-of-the-art edge AI solutions, which also include GPU Cloud for AI training and Inference at the Edge for AI inference, all powered by NVIDIA GPUs.
Commenting on the award, Andre Reitenbach, CEO of Gcore, said: “We are delighted to receive this recognition from the NVIDIA Partner Network. Aware of the growing demand from the Luxembourgish public, expats, and local businesses for translation from English to Luxembourgish, Gcore is committed to making communication seamless and efficient. Our groundbreaking AI app for speech recognition sets a new standard, demonstrating our leadership in edge AI services. We are honoured to be acknowledged by the NVIDIA Partner Network for our innovative contribution to the AI landscape.”
“AI fosters communication and connection through its ability to translate across languages,” said Dirk Barfuss, Director of EMEA Channel at NVIDIA. “Gcore is recognized as 2024 EMEA NPN Highly Commended in the Industry Innovator category for its achievements in creating the first advanced speech-to-text translation from English to Luxembourgish, powered by NVIDIA GPUs.”
Gcore’s model was built on Whisper Small – the downsized version of the open-source Whisper model, containing 244 million weights. To meet this substantial demand for computing resources, Gcore used a high-end solution powered by the NVIDIA A100 Tensor Core GPU.
The post Gcore Recognised as Highly Commended in the Industry Innovator Category at the EMEA NVIDIA Partner Network Awards appeared first on HIPTHER Alerts.

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CCI Initiates Study on AI’s Influence on Competition, Efficiency, and Innovation

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The Competition Commission of India (CCI) is gearing up to conduct a comprehensive study on the impact of Artificial Intelligence (AI) on competition, efficiency, and innovation.
This initiative comes in response to the growing significance of AI across various sectors. With the aim of fostering innovation and fair competition, the CCI has announced plans to delve into the evolving landscape of AI and its application in Indian markets.
In a recent announcement, the CCI issued a request for proposal to engage an agency to conduct this market study. The study aims to provide insights into the emerging competition dynamics within AI ecosystems, along with assessing the implications of AI applications for competition, efficiency, and innovation across key user industries.
Key focus areas of the study include understanding the AI ecosystem, analyzing its applications in different industries, evaluating its impact on competition within sectors, and examining the regulatory frameworks governing AI development in India and other major jurisdictions.
Additionally, the study will explore strategies for fostering a competitive environment that encourages both incumbent AI developers and new innovators. It will also address measures for creating awareness among stakeholders regarding AI usage and its implications on competition, alongside ensuring compliance with necessary standards.
To facilitate this study, the selected agency will be tasked with collating existing research and data, as well as engaging with relevant stakeholders. The deadline for submission of bids is June 3, with the opening of financial bids scheduled for June 26.
This initiative underscores India’s commitment to understanding and harnessing the potential of AI while ensuring fair competition and promoting innovation. It aligns with the CCI’s broader efforts to address emerging challenges in the digital economy and safeguard competition in the market.
By conducting this study, the CCI aims to equip itself with valuable insights that will inform future regulatory decisions and strategies related to AI development and its impact on competition dynamics in India.
Source: business-standard.com
The post CCI Initiates Study on AI’s Influence on Competition, Efficiency, and Innovation appeared first on HIPTHER Alerts.

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