by Chelsea Florence | Oct 23, 2023 | Cryptocurrencies
Key Points
- Worldcoin has announced that it will ditch USDC usage in favor of its native coin, WLD.
- The project has also announced changes to the terms behind WLD loans to Market makers.
Worldcoin is set to start paying Orb Operators in WLD, replacing the USDC that had been in use as early as next month. Per an October 22 announcement, Worldcoin confirmed that the Orb Operators are “independent ecosystem participants” but will now be paid in WLD tokens for scanning people’s irises.
Worldcoin announced new changes to WLD loans and USDC usage
Worldcoin, a project by OpenAI’s Sam Altman, picked pace earlier this year with the launch of the Orbs and a native coin, WLD. The project’s launch was a solution for the growing interest in AI to help identify a human from an AI on the internet.
However, it hasn’t come without resistance from certain jurisdictions, given that important and sensitive biometric data is being collected in the process. The project functions by having Orb Operators who scan users’ irises, which are then paid in USDC. Users also receive airdrops in WLD.
Now, the company has stated that it intends to reverse the payments in USDC to WLD for the Orb operators. It added that the initial use of USDC was just but a “transitional phase” for the project’s pilot phase.
Parallel to that announcement, Worldcoin stated that it would extend the expiration date of 100 million WLD loans due to expire from OCT 24 to December 15. A total of five market-making entities took these loans. The five entities will return it as a reduced amount of 75 million WLD; however, they will still need to return or purchase some or all of the remaining 25 million coins per their agreement.
Keep watching Fintech Express for more updates on this and other crypto-related stories.
by admin | Oct 3, 2023 | Learn
Introduction
Artificial Intelligence (AI) has revolutionized the way we live, work, and do business. It has transformed industries, streamlined processes, and opened up new opportunities for entrepreneurs and businesses alike. One of the most exciting aspects of AI is its potential to generate revenue. In this article, we will explore various ways you can make money using AI, from building AI-powered products and services to investing in AI-driven ventures.
Develop AI-powered Products and Services
1. AI Software Development
- Create AI-powered applications and software solutions that cater to specific industries or customer needs.
- Examples include chatbots for customer service, recommendation engines for e-commerce, and AI-driven analytics tools.
2. AI as a Service (AIaaS)
- Offer AI capabilities through APIs and cloud-based platforms, allowing businesses to integrate AI functionalities into their existing systems.
- AIaaS can include image recognition, natural language processing, and machine learning services.
3. AI-Enhanced Products
- Embed AI technology into physical products, making them smarter and more interactive.
- Examples include AI-powered cameras, home appliances, and wearable devices.
Data Monetization
1. Data Collection and Analysis
- Collect valuable data and use AI to analyze it for actionable insights.
- Sell the insights or anonymized data to interested businesses or researchers.
2. Data Labeling and Annotation
- Provide data labeling services for machine learning and AI training.
- Crowdsourcing platforms can help you scale this business model.
AI Consulting and Services
1. AI Strategy and Implementation
- Offer consultancy services to businesses looking to adopt AI.
- Help them develop AI strategies, select appropriate AI tools, and implement AI solutions.
2. AI Training and Education
- Create online courses or workshops to teach AI skills.
- Target professionals and students interested in AI careers.
Content Creation and Automation
1. AI-generated Content
- Use AI to generate written content, such as articles, product descriptions, or marketing materials.
- This can be a valuable service for businesses looking to scale their content production.
2. Social Media Management
- Develop AI tools to automate social media posting and engagement.
- Offer these services to businesses looking to maintain an active online presence.
Investment in AI Ventures
1. Venture Capital
- Invest in startups that are developing AI technology or products.
- This allows you to benefit from the growth of AI-driven companies.
2. AI Stock Investments
- Invest in publicly traded companies that are heavily involved in AI research and development.
- Monitor the stock market for opportunities in AI-related sectors.
AI Research and Development
1. Government Grants and Contracts
- Pursue government contracts for AI research and development projects.
- Many governments offer grants and funding for AI innovation.
2. Patents and Intellectual Property
- Develop and patent AI-related technologies.
- License your AI inventions to companies seeking to use your technology.
Conclusion
Artificial Intelligence presents a vast array of opportunities for individuals and businesses to make money. Whether you’re a developer, entrepreneur, consultant, or investor, there’s a role for you in the AI ecosystem. By leveraging AI technology and staying informed about the latest trends and developments, you can tap into this rapidly growing field and create profitable ventures. However, it’s essential to approach AI ethically, ensuring that your AI applications and services benefit society while generating revenue.
by Samuel Mbaki | Oct 3, 2023 | Regulation
Key Points
- A landmark Marijuana bill is headed to the US Senate seeking to challenge regulators who order the closure of bank accounts of businesses they don’t like.
- The bill seeks to protect legal businesses from being forced to deal with reduced banking options owing to pressure from regulators.
The Senate Business Committee has approved the start of the voting process for a historic Marijuana bill that seeks to protect legal companies from asset freezes by regulators who might deem their operations ‘not moral.’
A bill that might save crypto?
An October 2 story by CNN indicates that the US Senate Banking Committee has approved a Marijuana bill that seeks to break barriers between financial institutions and Cannabis companies. The bill in question challenges the activities of Regulators who seek to freeze bank accounts of legal companies because their operations might not be legal.
The Secure and Fair Enforcement Regulation (SAFER) Banking Act aims to resolve a longstanding deadlock between regulators and the cannabis industry, which has forced the involved companies only to use cash for operations. This bill had been presented before the committee since 2015, but it’s the first time it has received a green light to head to the Senate Floor for voting.
How does this relate to crypto? If this bill passes, it will be a benchmark in the Wild West of ongoing crypto regulation in the United States. The SEC, DoJ, CFTC, and other authorities and regulators have doubled down on the crypto industry, with some key heads dubbing the industry as risky and based on non-compliance.
Sitting SEC chair, Gary Gensler has been vocal about the crypto industry being highly uncooperative in the regulatory processes that his authority has been trying to spearhead in the industry. However, it is highly noticeable that the US is trailing far behind in crypto regulation. The EU and other countries are already introducing crypto regulatory frameworks.
If this bill passes, it will be a benchmark for companies like Coinbase and Binance that have legal tussles with US regulators to defend their stances that crypto is not a morally legal grey area. However, now only the voting process by the Senators is left to dictate the direction of the bill.
by Melissa Adams | Sep 25, 2023 | Cryptocurrencies
Key Points
- Michael Saylor’s MicroStrategy has acquired an additional 5,445 BTC at an average price of $27,053 per Bitcoin.
- The company now holds 158,245 BTC worth over $4.68 billion purchased at an average price of $29,582 per bitcoin.
MicroStrategy has continued with its Bitcoin buying spree as it acquired an additional 5,445 BTC, taking its total tally to 158,245 BTC.
MicroStrategy continues investing in Bitcoin
MicroStrategy indicated in August via a court filing that it was preparing to buy more bitcoin from the sale of shares. At the time, it had added 14.5 million USD worth of Bitcoins two months after buying a whooping 12,333 BTC.
With its most recent purchase, the company now holds over $4.68 worth of Bitcoin and is still expecting to keep buying more. Michael Saylor has been vocal about Bitcoin and its role in the global financial landscape, insisting that it is the solution to the increasing loss of value in fiat currencies.
He led MicroStrategy to first buy Bitcoin in 2020, where he was bashed after the company made significant unrealized losses on its investments. However, the company has continued “filling its bags” till now, where every of their coin is in profits.
Saylor is a staunch believer in the revolutionary power of the crypto industry, and under his leadership, it is expected that MicroStrategy will continue investing in Bitcoin and supporting it. Keep watching Fintech Express for more updates on this and other fintech-related developments.
by admin | Sep 25, 2023 | Learn
Introduction
Cryptocurrencies have taken the financial world by storm, attracting investors from all walks of life. The allure of high returns and the promise of revolutionizing traditional finance have made cryptocurrencies a hot topic of discussion. However, before you jump on the crypto bandwagon, it’s essential to educate yourself about the risks and intricacies involved.
What You Should Know When Investing in Cryptocurrencies
- Understand the Basics
Before diving into the crypto market, grasp the fundamental concepts. Cryptocurrencies are digital or virtual currencies that use cryptography for security. Each cryptocurrency operates on a decentralized ledger called the blockchain. Bitcoin was the first cryptocurrency, but there are now thousands of others, each with unique features and use cases.
- Volatility is Inherent
One of the defining characteristics of cryptocurrencies is their extreme price volatility. Prices can skyrocket one day and plummet the next. While this volatility can lead to substantial gains, it also exposes investors to significant risks. Be prepared for the rollercoaster ride that crypto investments can be.
- Do Your Own Research (DYOR)
DYOR is a common mantra in the crypto community. Don’t rely solely on advice from friends, social media, or even news outlets. Conduct thorough research on the cryptocurrency you’re interested in, its technology, team, use case, and community support. Understanding the project’s fundamentals can help you make informed decisions.
- Security is Paramount
Cryptocurrency is stored in digital wallets, which come in various forms, such as hardware, software, and paper wallets. Ensuring the security of your wallet is crucial. Use reputable wallets, enable two-factor authentication, and keep your private keys offline and secure. Beware of phishing scams and only interact with trusted websites and exchanges.
- Regulatory Environment
The regulatory landscape for cryptocurrencies varies by country and is constantly evolving. Before investing, research the legal status of cryptocurrencies in your jurisdiction. Be aware of tax implications and compliance requirements. Staying on the right side of the law is essential to avoid legal troubles down the road.
- Diversify Your Portfolio
Don’t put all your eggs in one crypto basket. Diversification can help mitigate risk. Invest in a range of cryptocurrencies with different use cases and risk profiles. This strategy can help you weather the volatility in the market.
- Beware of Scams and Frauds
The crypto space has its fair share of scams and fraudulent schemes. Be cautious of promises that seem too good to be true, especially those related to high-yield investment programs or “get rich quick” schemes. Always validate the legitimacy of the projects and exchanges you’re dealing with.
- Stay Informed
The cryptocurrency market operates 24/7, and news can have a significant impact on prices. Stay informed about market developments, technological advancements, and regulatory changes. Subscribing to reputable crypto news sources and following industry experts on social media can help you stay up to date.
- Long-Term Perspective
While some investors have made quick fortunes in cryptocurrencies, it’s essential to have a long-term perspective. HODL (a term derived from a misspelled “hold” in a Bitcoin forum) can be a wise strategy. Trying to time the market’s ups and downs is extremely difficult, even for experienced investors.
- Expect the Unexpected
Cryptocurrency markets can be unpredictable. Prepare for the unexpected, and don’t invest money you can’t afford to lose. Consider your risk tolerance and investment goals carefully.
Conclusion
Investing in cryptocurrencies can be a rewarding endeavor, but it’s not without risks. Educate yourself, be cautious, and approach the market with a clear understanding of its dynamics. By doing your due diligence and staying informed, you can navigate the crypto landscape more confidently and make informed investment decisions that align with your financial goals. Remember that in the world of cryptocurrencies, knowledge is your most valuable asset.
