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How Blockchain Technology is Revolutionizing TradFi
The rise of blockchain technology adoption is reshaping the traditional finance (TradFi) sector, bringing about a profound shift in financial systems' operations. With its decentralized, transparent, and secure infrastructure, blockchain is enabling innovative solutions that remove intermediaries, reduce costs, and enhance trust in transactions. As financial institutions begin adopting blockchain for everything from cross-border payments to asset management, it is becoming clear that the future of finance lies in integrating this transformative technology. This compilation explores recent integrations of blockchain technology in the finance sector and other tech developments. The featured articles are worth your reading time.
Palau Invest: Palau Launches Blockchain-Based Savings Bonds
Palau has launched a blockchain-based savings bond system called Palau Invest, aimed at raising funds for infrastructure projects like housing, SME development, and roads. The initiative is supported by Japan’s Ministry of Economy, Trade and Industry and Soramitsu blockchain, and will allow Palauan citizens to purchase bonds through a mobile app. With Palau Invest, Palauans will be able to invest in these bonds via a mobile app, with the system set to fully launch in 2025. The initiative is built on the Hyperledger Iroha 2 blockchain and reveals the country’s forward-thinking embrace of blockchain in public finance.
Amazon to launch Ring Home Premium Subscription
Amazon is launching a Ring Home Premium Subscription with AI Video Searches. This feature is to improve home security and provide customers with AI-powered features for their Ring devices. et to launch on November 5, Ring Home Premium Subscription will be initially available for users in the United States, with potential expansion to other regions such as Europe. Ring Home Premium subscription will offer 24/7 video recording with AI-powered Smart Video Search function, and allow users to locate specific moments in recorded videos by querying the Ring app with keywords related to animals, places, packages, people, vehicles, actions, and more. Users without a Ring Protect Pro subscription will be charged an additional $10 per month for the alarm monitoring system but will receive a one-year trial membership to Ring Home Premium. Amazon aims to continue improving security devices and subscriptions to meet customer needs and provide peace of mind.
AI Godfathers Hinton Recognized with Nobel Prize in Physics
Geoffrey Hinton and John Hopfield have been recognized with the Nobel Prize in Physics for their foundational discoveries and inventions that enable machine learning with artificial neural networks at the Royal Swedish Academy of Sciences. The duo is often referred to as the Godfathers of artificial intelligence and have since the 1980s inspired the development of AI with the creation of artificial neural networks. Their works have largely contributed to the growth of AI as we know it today. They developed the Boltzmann machine and the Hopfield model, both which have contributed to modern AI today. Hinton plans to donate his share of the prize money to charity.
Trillions is Moving into Tokenization
The turn of events has shown that Wall Street is going all in on tokenization, with a focus on tokenizing real-world assets, predicting trillions of dollars in tokenization, and pitching the niche as having the potential for explosive growth in the tokenized market. The foray of Wall Street into tokenization will unlock value, create greater opportunities for financial activities, leverage digital assets, adapt to technological advancements. The tokenization market is predicted to reach over $2 trillion by 2030, likely to increase significantly in the next 5 years and it will accelerate technology development. Are you ready for this move?
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