China scores diplomatic win following AI resolution passage at UN

    coingeek 2024-07-15 69694 views AI
    ​China’s plans for global regulatory standards for artificial intelligence (AI) have reached a historic milestone after its resolution received unanimous support at the United Nations General Assembly.The Chinese-sponsored AI resolution sought to create an even development for AI worldwide to prevent the technological gap between the global North and South. More than 140 nations supported the resolution, noting that the undertaking could have far-reaching consequences for the emerging technology.

    Taiwan central bank starting wholesale CBDC trials, but not in a rush to launch

    coingeek 2024-07-12 52891 views Trending
    The Governor of the Central Bank of the Republic of China (Taiwan), Yang Chin-long, has said that central bank digital currency (CBDC) is not a race or an international competition, and the central bank has no issuance timetable for its digital New Taiwan dollar.

    Brazil bars Meta from using citizens’ data to train its AI, cites ‘irreparable’ damage

    coingeek 2024-07-11 79148 views Trending
    ​Brazil’s data protection agency has prohibited Meta from using its citizens’ data to train its artificial intelligence (AI) models.In May, Meta revealed that it plans to use public data from Brazilians on Facebook, Instagram and Messenger, such as photos and captions, to train its AI. The tech giant announced the move in other markets, but some have warned against it.

    Bahamas to force banks to support its CBDC

    coingeek 2024-07-10 73921 views Trending
    ​The Bahamas plans to force its commercial banks to support its Sand Dollar CBDC, the country’s central bank governor has revealed.Sand Dollar was launched in October 2020 as the world’s first central bank digital currency (CBDC). The Central Bank of the Bahamas believed that the digital currency would boost financial inclusion, “reduce service delivery costs and increase transactional efficiency for financial services.”

    Russia pushing ‘crypto’ payments, SWIFT alternative as sanctions bite

    coingeek 2024-07-09 49234 views Trending
    ​Russia’s central bank has been encouraging alternative payment systems, including digital assets, as sanctions from Western nations continue to disrupt the country’s cross-border payments.

    Automobile blockchain market sees a significant increase in adoption: report

    coingeek 2024-07-08 43978 views Trending
    Blockchain technology has come a long way, from its humble beginnings in 2009 to hogging the spotlight in recent years. Although the emerging technology has fallen behind artificial intelligence (AI) in recent years, blockchain use cases in the automobile sector are poised to reach new highs.

    Germany losing out in AI race, KfW bank says

    coingeek 2024-07-05 35802 views Trending
    ​Germany has failed to keep up with global artificial intelligence (AI) leaders, and the gap is widening, says the country’s state-owned development bank KfW.German scientists have been researching AI for decades and have made significant contributions to the industry. However, this expertise has failed to translate into real-world applications, says Fritzi Köhler-Geib, the chief economist at the Frankfurt-based bank.

    BIS: Central banks must raise their game to keep pace with AI

    coingeek 2024-07-04 47318 views Trending
    ​Central banks must embrace artificial intelligence (AI) and leverage it to “sharpen their analytical tools,” says the Bank for International Settlements (BIS) in its first comprehensive AI report.

    ECB issues first digital euro ‘preparation phase’ progress report

    coingeek 2024-07-03 58917 views Trending
    The European Central Bank (ECB) has published the first report on its digital euro preparation phase, including updates on offline functionality, holding limits and the tender process for digital euro component providers. Privacy was also highlighted, following on from a June 13 blog published by the ECB on how to make the digital euro “truly private.”

    Middle East in strong position for AI innovation: report

    coingeek 2024-07-02 45758 views Trending
    While there is a noticeable gold rush for artificial intelligence (AI) globally, enterprises in the Middle East are matching the zest of their counterparts in other regions in integrating AI into their processes.

    Huawei records huge leaps in AI, rivaling US and European counterparts

    coingeek 2024-07-01 41312 views Trending
    ​Chinese-based technology company Huawei says it has recorded impressive strides with artificial intelligence (AI) and its native operating system despite a raft of headwinds slowing its momentum.

    Gradual adoption of generative AI among Asian firms eyed in second half of 2024: survey

    coingeek 2024-06-28 43873 views Trending
    Generative artificial intelligence (AI) is set to undergo a renaissance in Asia after an impressive start in late 2022, buoyed by several private entities and massive government support.A handful of Asian businesses are keen on incorporating generative AI tools and products into their operations, citing efficiency and productivity as deciding factors.

    Switzerland extends CBDC trial by 2 years after promising early results

    coingeek 2024-06-27 69328 views Trending
    ​After nearly nine months of experimenting with a wholesale central bank digital currency (CBDC), the Swiss National Bank (SNB) has announced an extension of the pilot to explore new use cases and expand the scope.

    Spain’s BBVA to launch digital bank in Germany by 2025

    coingeek 2024-06-26 65782 views Trending
    Spain’s second-largest bank, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) , is set to launch digital banking services in Germany, joining other global giants targeting Europe’s largest economy.

    Iran launches retail CBDC pilot on Kish Island ‘free zone’

    coingeek 2024-06-25 61926 views Trending
    ​The Central Bank of Iran (CBI) announced the launch of a pilot scheme for Iran’s central bank digital currency (CBDC), the digital rial, focusing on domestic micropayments.

    South Korea commits $14.5 million to experiment with CBDC, digital vouchers

    coingeek 2024-06-24 35148 views Trending
    ​South Korea is doubling down on its investments in blockchain technology as it seeks to maintain its innovator position in Southeast Asia.The latest play by the South Korean authorities is an ambitious 20 billion won ($14.5 million) investment to support 14 projects across several verticals. The initiatives will be spearheaded by the Korea Internet & Security Agency (KISA) and the Korean Ministry of Science and ICT.

    Ethiopia to establish CBDC framework following new banking reforms approval

    coingeek 2024-06-21 59189 views Trending
    ​As part of plans to liberalize the country’s financial landscape, Ethiopia’s Council of Ministers is moving toward introducing new banking reforms, with the incoming rules hinting at a commercial rollout of central bank digital currencies (CBDCs).

    Hong Kong Treasury chief: We’re leading in Web3 with digital currency ETFs, enabling regulations

    coingeek 2024-06-20 71471 views Web3
    ​Hong Kong has become a premier global destination for Web3 and digital assets, with its approval of digital currency ETFs and favorable regulations opening up new opportunities for investors and innovators, says the region’s top finance official.

    US advocacy group seeks ties with India on pending tech regulations

    coingeek 2024-06-19 56185 views Trending
    The Information Technology Industry Council (ITI), a premier global advocate for technology that represents U.S. technology giants like Google, Amazon , Meta, Apple and Microsoft , said it is looking forward to working on pending regulations with the new team at India’s Ministry of Electronics and Information Technology (MeitY).

    ASEAN countries join hands for AI development

    coingeek 2024-06-17 80025 views Trending
    ​Southeast Asian countries have pledged to work together to foster the development of artificial intelligence (AI) in the region and established a working group on AI governance.In their recent meeting, technology and innovation ministers from members of the Association of Southeast Asian Nations (ASEAN) announced a raft of measures aimed at boosting the region’s AI capabilities. These include ramping up regional consultation on AI development, investing in education and public awareness, investing in AI infrastructure and establishing robust data governance frameworks.

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