#tech

Narendra Modi speaks in favor of an integrated approach to new technologies. As tech progress accelerates, he advises the global community to establish wide-reaching rules and a collective strategy. "At the same time, the rules, regulations, and framework around it should not belong to one country or a group of countries. So not only crypto, but all emerging technologies need a global framework and regulations," highlighted India's Premier.

Social app friend.tech has recorded protocol fees amounting to more than $1.42 million within the past 24 hours, positioning it among the top three crypto projects in terms of user-paid fees. It now stands as the third-highest project for user-paid fees, following Ethereum and Lido Finance, according to data from DeFiLlama. Built on Coinbase’s Base Layer 2 chain, friend.tech is a social app that integrates with X (Twitter). It allows users to trade tokenized shares linked to each other’s profiles. Shareholders enjoy exclusive content access and private chat rooms in X.

House Democrats have initiated a working group dedicated to artificial intelligence (AI) with the aim to craft legislation surrounding this tech. The group, chaired by Representative Derek Kilmer, will explore leveraging AI for growth while ensuring job security for those impacted by AI advancements. A primary concern is the rise of AI-generated misinformation, especially deepfakes.

Coinbase, the cryptocurrency exchange, has joined forces with Peoples Trust Company. This collaboration facilitates access to the Interac e-Transfers system, streamlining deposit and withdrawal processes for its Canadian user base. What's more, they're gifting users a one-month free gateway into the Coinbase One subscription. This means no trade-related fees, amplified staking profits, and swift client support. "Canada is well positioned to be a global leader in the cryptoeconomy thanks to the high levels of crypto awareness, a passionate local tech ecosystem, and the progress towards a strong regulatory framework," voiced Nana Murugesan, the International Development VP at Coinbase.

In the wake of a report by the Alphabet (Google) workers' union, the tech giant finds itself under severe scrutiny due to allegations of violating U.S. labor laws. According to the grievance lodged, Alphabet unlawfully terminated contracts due to union-organizing activities involving a substantial number of employees, including developers of an AI chatbot. Should these charges be corroborated, they could spell considerable legal and reputational ramifications for the company. "It’s obvious that this timing is incredibly suspicious, and that is why we are filing an unfair labor practice charge — to hold Google and Accenture accountable for their behavior," declared Anjail Muhammad, a former Google employee.

Tech leaders Google, Microsoft, OpenAI, and AI startup Anthropic are forming a new industry watchdog group, the Frontier Model Forum, to supervise the "safe and responsible" development of frontier AI models. The alliance aims to push research on AI safety, pinpoint responsible development practices, collaborate with governments and civil leaders, and back the development of applications. This move follows a commitment made by these AI companies to the White House for the safe and transparent development of AI.

The immense wave of transactions and heightened user activity took Shibarium by surprise, causing some tech glitches, says Shytoshi Kusama, the co-founder of the Shiba Inu ecosystem. He's also quick to debunk the rumors about funds getting stuck in the bridging contracts, terming it as pure FUD. "Although we expected a very busy moment, we never expected THIS much traffic, instantly," reflects Shytoshi Kusama. At its launch, the Shibarium team tackled a load of 160 million computational tasks in a span of about 30 minutes, while anticipating only 400 million within a month.

Dubai is launching an aggressive campaign to attract tech giants in artificial intelligence and Web3, offering hefty subsidies that could cover as much as 90% of commercial licensing fees. The Dubai International Financial Centre (DIFC) has been assigned the duty of issuing these licenses, and its executives look forward to engaging foreign businesses and investors with optimism.

The U.S. Federal Reserve's instant payment system, FedNow, has highlighted Dropp, a micropayments platform built on Hedera Hashgraph, in its Service Provider Showcase. This section connects financial institutions with providers that can assist in implementing instant payment products using FedNow. Dropp offers a digital solution for merchants to accept payments at reduced costs, leveraging DLT and banking tech. While this suggests the Federal Reserve's growing interest in DLTs, FedNow clarifies that the showcase is merely for convenience and doesn't imply endorsement.

In spite of increasing concerns among its creative workforce, Disney has established a specialized task force to study the applications of artificial intelligence within its different fields of work. The group aims to both pioneer in-house AI-based solutions and to bridge ties with novel startups, hoping to incorporate their pre-developed tech advancements.

“FTX 2.0 would be worse than starting from scratch. No team, no tech, no licenses, no banking, tarnished brand. The trustee should just auction off the domain and trademark to the highest bidder. Anything beyond that is simply a fee extraction attack on delusional creditors,” — tweeted Kraken founder. Who would actually be interested in buying FTX?

The tech tycoon has stirred the online world yet again by displaying the fresh emblem of Twitter and Dogecoin as his profile location. While the overall market is submerged in a sea of red, DOGE has managed to record a 9% surge within a day, now exchanging at $0.077.