Solana Launches Real-Time Carbon Emissions Tracking Dashboard

The Solana Foundation has launched a real-time tracking dashboard to measure carbon emissions on its blockchain. The foundation collaborated with data platform Trycarbonara to create the dashboard, which is the first “major smart-contract blockchain” to measure carbon emissions in real-time. This marks an important step towards promoting transparency and accountability in the blockchain industry.

The new dashboard can be found on the Solana Climate website and displays the total node count, megawatt-hours, total carbon emissions average, and marginal use, alongside numerous other indicators. Furthermore, it contains several emissions comparison charts where users can view side-by-side conversions depicting Solana usage versus numerous other emission-producing activities.

According to a blog post from the foundation, the organization hopes that this initiative will set a new standard for measuring emissions in blockchain by publishing this data. The data used to power the Solana Foundation’s real-time carbon emissions dashboard is available open-source and is modeled on the estimated carbon footprint of the Dell PowerEdge R940.

It remains to be seen whether other blockchain outfits will adopt similar tracking systems, but this move from the Solana Foundation comes amid increasing global efforts to utilize blockchain technology to monitor carbon emissions around the world.

As part of its “Shaping Europe’s digital future” initiative, the European Commission has praised blockchain’s ability to serve as a foundation for the accurate measurement of carbon emissions in any sector. In an article on the EU’s digital strategy blog, the commission wrote, “Blockchain can be utilised through smart contracts to better calculate, track and report on the reduction of the carbon footprint across the entire value chain.”

This move towards using blockchain to track carbon emissions is particularly relevant given the global climate crisis and increasing demand for more sustainable and eco-friendly practices.

In the United States, President Joe Biden recently floated budget plans that would add an excise on electricity used for cryptocurrency mining in the amount of 30%. This shows that the government is also taking steps towards addressing the energy consumption concerns of the cryptocurrency industry.

Overall, the Solana Foundation’s real-time carbon emissions tracking dashboard is a positive step towards promoting transparency and accountability in the blockchain industry. As more blockchain outfits follow suit, the industry will become more eco-friendly, which is crucial for achieving a sustainable future.

Binance Executive Accuses Former FTX CEO of Spreading Fake Rumors

Binance executive Patrick Hillmann recently took to Twitter to accuse former FTX CEO Sam Bankman-Fried, also known as SBF, of spreading “fake rumors” about Binance CEO Changpeng “CZ” Zhao. Hillmann claimed that Bankman-Fried used his influence to label Zhao as an “evil Chinese” in an attempt to perpetuate his alleged scams at FTX.

The public relationship between SBF and CZ had been often antagonistic, with the two exchanges having financial ties. However, Hillmann’s recent comments suggest that Bankman-Fried had taken things further than what was publicly visible. Hillmann also claimed that the denigration of CZ was the norm at FTX and had nothing to do with the decision to sell the worthless FTT on the company’s books.

The rivalry between FTX and Binance came to a head when CZ announced plans for Binance to liquidate its position in FTX Token (FTT) prior to FTX’s bankruptcy, hinting that Binance would consider purchasing the competitor. However, when the deal fell apart, and FTX filed for Chapter 11, the two industry heads traded barbs through social media. CZ called SBF a “fraudster,” and the former FTX CEO suggested that Zhao lied about the buyout discussions.

Despite the animosity between the two leaders, Zhao continues to lead Binance as CEO and regularly posts messages on social media. In contrast, Bankman-Fried faces 13 federal charges, including those related to bribery and wire fraud. As part of his bail conditions, he has only limited internet access.

Bankman-Fried’s alleged actions to denigrate CZ raise concerns about the role of social media in perpetuating rivalries and conflicts within the crypto industry. As crypto exchanges continue to grow in size and importance, it is crucial for their leaders to maintain a professional and respectful public image. Failure to do so could lead to reputational damage and undermine investor trust in the entire industry.

The rivalry between FTX and Binance is not unique in the crypto industry. The space is known for its intense competition, with companies vying for dominance in an emerging market with vast potential. However, the leaders of these companies must remember that they have a responsibility to act with integrity and professionalism in their public statements and behavior.

In conclusion, Hillmann’s accusations against Bankman-Fried highlight the need for greater scrutiny of the conduct of crypto industry leaders. As the industry continues to grow and evolve, it is important for regulators and investors to demand transparency and accountability from these companies and their leaders. Only by doing so can we ensure that the promise of crypto technology is fulfilled in a way that benefits everyone.

Changshu Civil Servants to Receive Digital Yuan as Payment

Changshu, a city located in the Jiangsu Province of China, has issued a notice stating that all civil servants in its jurisdiction will be paid their full salaries in digital RMB or digital yuan from May 2023. This means that civil servants, including public service personnel, public institution personnel, and personnel of state-owned units at all levels in the city, will receive their salaries in digital yuan payment.

The notice was issued jointly by the Changshu Local Financial Supervision Bureau and the Changshu Municipal Bureau of Finance. In addition to civil servants, an on-site staff member of a local hospital confirmed that the workforce would also receive payments in digital yuan starting next month. Moreover, employees can opt for digital yuan settlements through self-service terminals.

This move is part of China’s pilot program to establish an efficient and convenient digital RMB operation and management system by 2025. The province of Jiangsu, where Changshu is located, has initiated this pilot program for digital RMB in Q1 2023.

China has been pushing for the adoption of its central bank digital currency (CBDC) or digital yuan in recent years. In fact, several Chinese city governments gave away over 180 million yuan ($26.5 million) worth of the CBDC during the Lunar New Year period in February 2023 to boost adoption.

However, the government’s push for CBDC adoption has not been well-received by residents of Hong Kong. In the first four days of the digital yuan hard wallet launch, only 625 Hong Kong residents had signed up, despite a 20% discount on purchases from 1,400 local vendors, subsidized for CBDC owners by the government.

The lack of adoption in Hong Kong is due to various factors, including concerns about the potential loss of privacy and autonomy, as well as uncertainty about the long-term stability of the digital yuan. Despite this, China is pushing ahead with its CBDC adoption plans, and Changshu’s decision to pay its civil servants in digital yuan is just one example of this ongoing effort.

Google Merges Teams to Form Google Deepmind for AI Breakthroughs

Google has announced the formation of a new business unit, Google DeepMind, aimed at advancing the development of artificial intelligence (AI) in a safe and responsible manner. The unit is the result of a merger between Google’s Brain team and London-based AI company DeepMind, which Google acquired in 2014.

According to Google and Alphabet CEO Sundar Pichai, the merger is intended to “significantly accelerate our progress in AI.” By combining Google’s AI talent into one focused team, Pichai hopes to create breakthroughs and products that can shape the future of AI.

To achieve this goal, Pichai has appointed Chief Scientist Jeff Dean to lead the development of powerful, multimodal AI models. Dean, who will report directly to Pichai, has been tasked with building a team that can accelerate the company’s progress in AI and create products that are both safe and responsible.

The new business unit, Google DeepMind, will focus on developing AI technologies that can be applied to a wide range of industries, from healthcare and finance to transportation and communication. This includes developing algorithms that can improve the accuracy of medical diagnoses, predicting stock prices with greater accuracy, and enhancing the capabilities of self-driving cars.

One of the key challenges in AI development is ensuring that the technology is used in a safe and responsible manner. This includes ensuring that AI models are not biased or discriminatory and that they are transparent and explainable. Google DeepMind will be dedicated to developing AI technologies that are both safe and transparent, with the goal of promoting the responsible use of AI across industries.

In addition to developing new AI breakthroughs and products, Google DeepMind will also focus on training the next generation of AI experts. This includes partnering with universities and research institutions to provide training and education in AI technologies.

The formation of Google DeepMind is part of Google’s broader strategy to become a leader in AI development. The company has been investing heavily in AI research and development over the past decade, and has already made significant breakthroughs in areas such as natural language processing and computer vision.

By creating a dedicated business unit for AI development, Google hopes to accelerate its progress in this field and create breakthroughs and products that can have a significant impact on society. With Jeff Dean at the helm, Google DeepMind is poised to become a leading force in AI development and shape the future of the industry for years to come.

Biden's Communications Director Restricted From Handling Crypto Firms

US President Joe Biden’s communications director, Ben LaBolt, will reportedly be restricted from handling matters related to any cryptocurrency or technology firms he previously represented, according to an April 22 Bloomberg Law report. However, he will be allowed to advise on the president’s approach to regulating cryptocurrency and social media companies.

LaBolt was previously a partner at Bully Pulpit Interactive (BPI), a communications firm that had 23 clients paying fees exceeding $5,000 in a year. These clients included decentralized exchange UniSwap, venture capital firm Andressen Horowitz, and companies such as Meta Platforms, Shopify, and West Street.

In a public financial disclosure report published on April 21, LaBolt disclosed owning $50,001-$100,000 in Bitcoin and $15,001-$50,000 in Ethereum 2. However, he will be barred from “participating in legal matters, investigations, or contracts involving cryptocurrency or technology firms he previously represented.”

These restrictions are in line with the ethics rules followed by senior White House staff. Despite the restrictions, LaBolt will be allowed to advise on crypto regulation.

This move comes after Biden signed an executive order (EO) on digital assets on March 9. The EO outlined an interagency process that will involve 16 high officials, initially starting with the task of producing an elaborate series of reports. These reports are due at intervals ranging from 90 days to over a year from the publication of the EO.

While the EO did not specify any regulatory actions, it attracted attention from government officials and industry leaders alike. Republican “Crypto Senator” Cynthia Loomis of Wyoming praised the administration’s growing interest in digital assets.

Ari Redborn, head of legal and government affairs for blockchain-based intelligence firm TRM Labs, said that he was “expecting certain things and the positive tone was not necessarily one of them.”

The move to restrict LaBolt’s handling of matters related to crypto firms may be seen as a way to ensure ethical behavior in the White House. This move is in line with the Biden administration’s focus on transparency and ethical governance.

It is worth noting that this move may also affect LaBolt’s former clients, such as UniSwap and Andressen Horowitz. It remains to be seen how this move will affect their business dealings with the White House.

Overall, this move highlights the growing interest in crypto regulation by the Biden administration. With the interagency process set in motion by the EO, it is likely that the US government will take a more active role in regulating the crypto industry.

Binance Integrates AI Chatbot ChatGPT into Its Education Platform

In late November 2022, the artificial intelligence (AI) chatbot ChatGPT made headlines worldwide, sparking much opposition to the technology. However, despite the initial pushback, the technology has continued to gain traction and see growing implementations. The latest example of this is the integration of ChatGPT into Binance Academy, the education platform of cryptocurrency exchange and blockchain developer Binance.

On April 24, Binance announced the launch of its new AI-driven tool, the Binance Sensei, which uses machine learning to source answers from Binance Academy’s education platform to help users answer questions related to Web3. The tool is essentially an “AI-powered mentor” that users prompt with a specific question or keywords. In response, the Sensei provides a “concise, approximately 150-word summary” for each user.

Although the news has been received positively by many in the Binance community, some have questioned the idea of “allowing a robot to be our teacher.” The integration of AI in education has sparked concerns about the potential misuse of the technology.

Binance Sensei is not the first AI-based learning tool to be implemented in the cryptocurrency space. Industry giants such as Microsoft, Google, and Alibaba have all announced their own versions of ChatGPT. The technology is also finding a role in bringing more efficiency to the memecoin community.

However, the adoption of AI in various industries has also led to an increase in concern over the technology’s capabilities if left unchecked. Italy was one of the early adopters of a brief ban on the usage of the technology, while regulators across the European Union have decided to probe the AI-algorithms of BigTech companies.

Industry insiders speculate that there may be an upcoming regulatory crackdown on AI as it becomes more pervasive. In China, for instance, authorities are set to enforce mandatory security reviews for all AI services in the country.

In conclusion, the integration of AI chatbot ChatGPT into Binance Academy is another example of the increasing use of AI in various industries, including cryptocurrency. While the technology may provide many benefits, it is important to consider its potential consequences and regulate its use to prevent misuse.

KuCoin Twitter Hack Leads to Loss of Funds

In a recent incident, the official Twitter account of the cryptocurrency exchange KuCoin was compromised by hackers, resulting in the loss of funds for some users who fell victim to a fake giveaway event. According to KuCoin, the hack lasted for almost an hour on April 24, 8 AM ET. During this time, the attackers posted a fake activity on KuCoin’s Twitter account to lure users into thinking that they were participating in an official event. The exchange identified 22 transactions that were involved in the incident and promised to reimburse the victims.

KuCoin has urged the victims to contact them for assistance and promised to implement better security measures to prevent similar incidents in the future. The exchange is also collaborating with Twitter in conducting further investigations into the incident. Despite the unfortunate incident, some community members commended KuCoin for its quick response to the attack.

However, the KuCoin Twitter hack is just one of many incidents where hackers have taken over official Twitter accounts of crypto exchanges and NFT projects to promote scams. In September 2022, the Twitter account of the crypto exchange CoinDCX was compromised and used to promote fake XRP advertisements. Similarly, in January 2023, the Twitter account of the trading platform Robinhood was taken over by hackers who promoted a crypto token.

The incident involving KuCoin also highlights the need for better security measures in the Web3 space, particularly in nonfungible token (NFT) projects. In January 2023, the Twitter account of the NFT project Azuki was hacked, resulting in losses of $758,000 in just 30 minutes.

In conclusion, the KuCoin Twitter hack serves as a reminder for crypto exchanges and NFT projects to strengthen their security measures to prevent similar incidents from happening in the future. While KuCoin pledged to reimburse the victims and improve their security, it is important for other platforms to take proactive steps to protect their users’ funds and information.

South Korean Court Clears Former Terraform Labs CEO of Security Violations

A South Korean district court has cleared former Terraform Labs CEO and co-founder Hyun-seong Shin of security violations in a ruling that is expected to affect how the country’s regulators treat cryptocurrencies. The court ruled that LUNA (LUNA), the native token of the LUNA ecosystem, is not a security under Korea’s Capital Markets Act.

The prosecution had accused Shin of fraudulent transactions that breached the Capital Markets Act and committed crimes involving property, making property confiscation a possibility. However, the southern district court in Seoul dismissed the appeal, stating that it is difficult to see Luna Coin as a financial investment product regulated by the Capital Markets Act.

The court’s decision is significant because it categorically states that Luna is not a security. Previous court rulings had used more cautious language, such as “there is room for dispute in terms of the law” and “it is questionable whether the Capital Market Act can be applied.” The latest ruling clarifies the regulatory status of LUNA and other native tokens in South Korea.

While rejecting the prosecution’s request for confiscation of Shin’s properties, the court noted that it is difficult to see that the property subject to the claim had been “acquired by a crime or an asset derived from it.” The ruling makes the Terra-LUNA saga a case of fraud and breach of trust rather than a violation of the Capital Markets Act.

Shin’s lawyer hailed the court’s decision, stating that Luna could not easily be considered an investment product based on the ruling. The court also rejected the prosecution’s requests for an arrest warrant for Shin and individuals associated with the case.

However, the prosecution is still focusing on the securities aspect of the native token and has appealed to the Supreme Court against the verdict of the lower district court. The case highlights the need for clear regulatory guidelines for cryptocurrencies in South Korea and other countries.

The judgment by the Korean district court is in contrast to the stance of the United States Securities and Exchange Commission (SEC), which has charged Terraform Labs and its founder, Do Kwon, with violation of securities law. Kwon’s lawyers have denied the SEC’s securities fraud allegations.

The Terra-LUNA case is closely watched by the cryptocurrency community as it raises important questions about the regulatory status of native tokens and the scope of securities laws. The South Korean court’s ruling is likely to have a significant impact on the future of cryptocurrencies in the country and beyond. As the regulatory landscape evolves, it is essential for companies and investors to stay informed and compliant with the latest laws and guidelines.

Romania's ICI Bucharest Launches NFT Trading Platform for Web3 Adoption

Romania’s National Institute for Research and Development in Informatics (ICI Bucharest) has set its sights on driving Web3 adoption in the country with the launch of its very own institutional NFT trading platform, ICI D|Services. This platform is set to go live on April 26, and aims to bridge the gap between private and public sector institutions and users through its NFT marketplace. Public and institutional users can now create, manage and trade their own unique NFTs on this platform.

For the past five years, ICI Bucharest has focused mainly on research and development. However, the growing interest and popularity of blockchain, Web3 and nonfungible tokens worldwide have prompted the institute to explore this area. According to Dr. Mihnea Gheorghe, Director General of ICI Bucharest, NFTs have gained significant traction in recent years due to their ability to create unique and scarce digital assets, which can be applied to numerous use cases. This has made them valuable assets for institutions, leading to the proposal of the NFT platform within ICI Bucharest in late 2021.

As a result, ICI Bucharest began developing and implementing the marketplace system’s architecture in partnership with MultiversX in mid-2022. This strategic project marks the first time the institution is working with the blockchain infrastructure provider.

By launching ICI D|Services, ICI Bucharest aims to support Web3 adoption in Romania and enable the country to embrace the opportunities offered by blockchain technology. The platform also seeks to create a link between institutions and users, promoting the growth of the NFT market and blockchain-based solutions in the region.

With ICI Bucharest’s new institutional NFT platform, Romania can expect to see a rise in interest and adoption of Web3 and blockchain technology. By providing a secure and reliable platform for NFT trading, ICI Bucharest is helping to pave the way for a more decentralized future.

Grimes Offers to Split Royalties with AI-Generated Music Creators

The rise of artificial intelligence (AI)-generated art has created a stir across various industries, and while some have highlighted concerns around copyright infringement issues involving AI-generated art, not all artists are against the fusion of AI and their intellectual property.

One such artist is Canadian musician and producer Grimes. In a recent tweet, she announced that she would treat AI creators using her voice the same as other artists she collaborates with. Grimes wrote that she would want to “split 50% royalties on any successful AI-generated song” that uses her voice.

Grimes has no label and, therefore, “no bindings” to any major entity in the music industry that could cause intellectual property rights issues. The artist continued to say that she finds it “cool to be fused with a machine” and that she is in favor of open-sourcing art, ultimately “killing copyright.”

Grimes mentioned that she is “curious” about what creators can do with the technology and is “interested in being a Guinea pig.” In the initial tweet, Grimes posted an article on the recent outcry surrounding AI-generated tracks of Drake and the Weekend, which have been floating around the internet.

However, not everyone is on board with the idea of AI-generated art. On April 13, music industry giant Universal Music Group sent an email to all major streaming services to block AI from accessing its catalogs for learning purposes. The company said it won’t hesitate to do what is necessary to protect its rights and those of the artists it represents.

Despite the concerns, Grimes believes that the fusion of AI and music is the future. In a separate statement, she revealed that she is creating a voice simulation program along with a team of developers, which will be made publicly available. She sees the potential for AI-generated music to lead to new and exciting sounds that were previously impossible to create.

However, AI-generated deep fakes utilizing images and voices of individuals are already causing major headaches and ethical concerns. Recently, a German tabloid used AI to generate a fake interview with the former Formula One driver Michael Schumacher. Concerns are even circulating within the companies producing the technology, after reports revealed Google employees’ worries over its forthcoming AI-chatbot.

The debate around AI-generated art and the implications it has for copyright and intellectual property is ongoing. While some are hesitant about its implications, others, like Grimes, are excited about the possibilities and are pushing the boundaries of what is possible with this emerging technology.

Exit mobile version