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Tether, the most promising stable coin, now the third most valuable cryptocurrency – Nairametrics

Posted on May 27, 2020 by admin

In 2019 Google Trends, Lagos, Nigeria was the number one city based on online search volumes for Bitcoin worldwide. While recently, in May 2020, Arcade Research ranked Nigeria fifth globally with its 11% of connected Nigerians owning or using cryptocurrencies.

In addition, data obtained from Coinmarketcap recently revealed the largest cryptocurrency users around the world, with Nigeria surging by 46% among itsyouth users. As a country, it gains stood Nigeria Up 211%.

READ ALSO: Lunobreaks barrier, allowsEthereum/Naira trading pair

These trends have shown that Nigerians do have a high passion for digital currencies and are among the greatest users of cryptocurrencies in the world. This is based on a major fact that Nigerians are using cryptos to avoid expensive and heavily bureaucratic money transfer systems currently available. Many Nigerians rely on remittances for their daily activities and any way of making the process effective cheaper would be of great benefit to them, this is where Bitcoin comes in

What you need to know: Cryptocurrency is basically, a digital currency based on an innovative technology called the blockchain. Its users range from small businesses to process payments, financial tech-based startups, and retail consumers that use it to send money across the border and as an investment asset.

READ ALSO: Bitcoin hits $10,000, as cheap money floods financial market

Consequently, Asias arguably most popular cryptocurrency exchange listed Nigerias Naira to be first African currency supported on its Binance P2P platform, The Binance CEO said:

We no longer need to bank the unbanked. We can empower them with cryptocurrency financial services directly. Nigeria is a vibrant innovation hub with a great passion for cryptocurrencies. We strive to provide the easiest cryptocurrency access and best trading service for the African community, and P2P trading is a more flexible approach, giving users the freedom to choose their payment methods and counterparty in a trade.

However Nigerias central bank issued a statement about three years ago banning the use of bitcoin for transaction purposes, this statement was sent to all banks in Nigeria warning them against facilitating the trading of cryptocurrencies but that seems not to pause Nigerians growing love for cryptocurrencies.

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Tether, the most promising stable coin, now the third most valuable cryptocurrency - Nairametrics

Eight Countries That Don’t Tax Your Bitcoin Gains | Finance Bitcoin News – Bitcoin News

Posted on May 27, 2020 by admin

As world governments push through legislation to levy taxes on capital gains from bitcoin (BTC) transactions, seeking to earn more from an asset class that frowns on regulatory oversight, there are still a few countries that remain pro-crypto, allowing investors to buy, sell or hold digital assets at zero taxes.

Circumstances vary, but the real motivation leans more toward facilitating increased investment within the respective jurisdictions cryptocurrency industries, perhaps as a base for future taxation. For now, that has not happened yet. Heres a list of eight countries in no order of importance which may be considered as bitcoin tax havens, states that dont want your BTC investment gains.

In Portugal, tax authorities waived all tax on cryptocurrency trading and transacting meaning that individuals do not have to pay capital gains tax or value added tax (VAT), when buying or selling BTC and other digital assets. The Portugal Tax Authority (PTA) said an exchange of cryptocurrency for real currency constitutes an on-demand, VAT-free exercise of services.

While citizens are under no obligation to pay income tax when exchanging crypto for fiat, the PTA, however, indicated that businesses which accept digital currencies as payment for goods and services are liable to paying taxes such as VAT and income tax. The income tax relief makes Portugals laws some of the most favourable throughout the world, given how income tax is a huge expense on the accounts of most crypto traders.

If you hold bitcoin for one year or more in Germany, you wont have to pay any taxes. Regardless of how much money you make selling your BTC, you do not pay capital gains as long as you have held your coins for a period exceeding 12 months.

Europes biggest economy regards BTC as private money, contrary to the widespread view in most developed countries, which look at crypto as currency, commodity or equity. In Germany, private sales that do not exceed 600 euros ($654) are tax-free. Businesses, however, are still obliged to pay taxes on gains emanating from bitcoin through corporate income taxes.

Both individuals and corporates who hold BTC or other digital assets as a long-term investment are not taxed in Singapore simply because capital gains tax does not exist in the city-state itself.

However, enterprises based in Singapore are liable to income tax, should they be involved in cryptocurrency trading as a core business. Those that opt for bitcoin as payment for services rendered, or revenue, are subject to normal income tax rules. Companies are taxed on the profit generated within Singapore.

As with neighboring Singapore, there are no capital gains tax in Malaysia. Cryptocurrency trades involving cash or another digital asset are not taxed in the Southeast Asian country. However, this will likely change if BTC is recognized as legal tender in Malaysia, as has been rumoured in the local press in recent months.

In the Eastern European country of Belarus, a new law that came into effect in March 2018 legalized cryptocurrency, exempting individuals and businesses from any form of taxation for dealing in or with digital financial assets in whatever way, at least until 2023.

Individual activities such as mining or buying and selling of crypto, are considered personal investments, and therefore, are not subject to tax. Similarly, registered businesses operating in the special economic zone of High Technologies Park near the capital Minsk, involved in mining, trading, initial coin offerings or other crypto-related operations are not taxed.

For Slovenia, the tax system for individuals and companies involved with BTC is rather different. While no capital gains is levied on citizens for the sale of bitcoin and other cryptocurrencies, they are still expected to pay income tax regardless of the currency being exchanged. However, companies that receive payment in BTC or from crypto mining are required to pay tax at the corporate tax rate.

The taxation of corporations depend on the circumstances of a particular case and the information provided in the declaration: income recipient status; type of income. If profits are recognized as capital gains, then the tax is 19%, say experts.

The famed blockchain island of Malta does not tax long-held digital currencies, either for capital gains or VAT. However, crypto trades executed within the day are considered similar to day trading in stocks or foreign exchange, attracting tax as business income at the rate of 35%.

Malta is perhaps one of the most crypto-friendly countries in the world, initiating legislation that has legalized a variety of crypto operations in the country. The government recognizes bitcoin as a unit of account, medium of exchange, or a store of value.

In Switzerland, one of Europes crypto havens, qualified individuals that buy, sell or hold cryptocurrencies for personal benefit are not required to pay tax on their capital gains. However, income from mining, considered self-employment income, is taxed through income tax. Profitable crypto trading by qualified professionals is subject to corporate tax while wages paid in bitcoin must be declared for income tax purposes.

What do you think about bitcoin taxation around the world? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Eight Countries That Don't Tax Your Bitcoin Gains | Finance Bitcoin News - Bitcoin News

Get In Depth Analysis Of How Covid-19 Is Impacting The Cryptocurrency Mining Equipment Market – Surfacing Magazine

Posted on May 27, 2020 by admin

CMI announced that its published an exclusive report namelyGlobal Cryptocurrency Mining Equipment Marketby Manufacturers, Regions, Type and Application, Forecast to 2027 in its research database with report summary, table of content, research methodologies and data sources. The research study offers a substantial knowledge platform for entrants and investors as well as veteran companies, manufacturers functioning in the WorldwideCryptocurrency Mining EquipmentMarket. This is an informative study covering the market with in-depth analysis and portraying the current state of affairs in the industry.

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Key Manufacturers Analysis:Advanced Micro Devices, Inc., Russian Miner Coin, Halong Mining, Zhejiang Ebang Communication Co., Ltd, NVIDIA Graphics Pvt. Ltd., Bitmain Technologies Ltd, SBI Group, Bitfury, TSMC, Canaan Creative Co. Ltd, Global Foundries, and United Microelectronics Corporation.

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This Week in Technology + Press Freedom: May 24, 2020 – Reporters Committee for Freedom of the Press

Posted on May 27, 2020 by admin

Heres what the staff of the Technology and Press Freedom Project at the Reporters Committee for Freedom of the Press is tracking this week.

The Reporters Committee recently published aspecial analysisdiscussing a difficult legal case that could have serious repercussions for newsgathering, especially for national security reporters.

Thecaseoriginated with a now-retracted story published by Fox News about Seth Rich, a data director at the Democratic National Committee who was murdered in 2016 in Washington, D.C.

The May 2017 story quoted a retired D.C. homicide detective and Fox News contributor who was investigating the case for the Rich family. The detective was quoted as saying that his inquiry showed some degree of email exchange between Rich and WikiLeaks. The reporter wrote that she had corroborated that detail through an unnamed federal investigator. However, many officials disputed the former detectives statement, and, within 24 hours, the former detectivesaidhe had no evidence of an exchange. Fox retracted the article.

Seth Richs family sued Fox, a case that the U.S. Court of Appeals for the Second Circuit allowed to proceed last September. Meanwhile, Seth Richs older brother, Aaron Rich, filed a defamation lawsuit against three others for statements purporting to connect Aaron to the debunked WikiLeaks conspiracy theory. A discrete but serious First Amendment issue has come up in that case.

The plaintiff served a third-party subpoena to depose the Fox reporter who wrote the May 2017 story, seeking, among other things, testimony on the decision to retract the article.

Fox News and the reporter filed a motion for a protective order barring the deposition, arguing, in part, that the discussions concerning the retraction are part of the editorial process, which are protected by the First Amendment and New Yorks newsgathering privilege. In April, a federal judge denied the motion, stating that discussions around the retraction of a story do not involve newsgathering.

As TPFP Director Gabe Rottman explains in his special analysis, the district courts holding in this case is deeply troubling and could, if widely adopted, lead to serious consequences for all media outlets, not just the entities involved here. The courts ruling is especially concerning for national security reporters. Indeed, such reporters may occasionally have to rely on incomplete information due to the secrecy surrounding their stories, and with such high stakes, outlets tend to be under even more pressure to expediently address inaccuracies with corrections or retractions.

[C]onstitutional or statutory protections that allow news outlets to self-correct without fear that doing so will lead to legal liability or, in this case, scrutiny into the decision-making processes, are important for an independent press, Rottman notes.

AUAS and CWI sponsor applied quantum computing research group – Bits&Chips

Posted on May 25, 2020 by admin

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The Amsterdam University of Applied Sciences (AUAS) together with the Centre for Mathematics and Computer Science (CWI) are launching a joint endeavor the applied quantum computing professorship and research group. Under the direction of Marten Teitsma, the research group will be tasked with investigating the future feasibility of quantum research applications, as well as exploring the possibilities of developing Qusofts quantum algorithms and protocols into applications.

While the new applied quantum computing position is being established within the Quantum Delta Netherlands Foundation, which aims to accelerate quantum technology and innovation in the Netherlands, the post itself is only recognized as a special professorship. This is because the professorship is being established for only a certain period of time, as it relies on the availability of funding. In its founding, the program is cofunded by the Taskforce for Applied Research SIA.

With this special research group, Dutch higher professional education will be connected to a major global development, expresses professor by special appointment and program leader, Teitsma. The consequences of quantum technology are not yet foreseeable but will potentially affect our lives in many ways.

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AUAS and CWI sponsor applied quantum computing research group - Bits&Chips

Quantum Physicist Invents Code to Achieve the Impossible – Interesting Engineering

Posted on May 25, 2020 by admin

A physicist at the University of Sydney has achieved something that many researchers previously thought was impossible. He has developed a type of error-correcting code for quantum computers that will free up more hardware.

His solution also delivers an approach that will allow companies to build better quantum microchips. Dr. Benjamin Brown from the School of Physics achieved this impressive feat by applying a three-dimensional code to a two-dimensional framework.

"The trick is to use time as the third dimension. I'm using two physical dimensions and adding in time as the third dimension," Brown said in a statement. "This opens up possibilities we didn't have before."

"It's a bit like knitting," he added. "Each row is like a one-dimensional line. You knit row after row of wool and, over time, this produces a two-dimensional panel of material."

Quantum computing is rampant with errors. As such, one of the biggest obstacles scientists face before they can build machines large enough to solve problems is reducing these errors.

"Because quantum information is so fragile, it produces a lot of errors," said Brown.

Getting rid of these errors entirely is impossible. Instead, researchers are seeking to engineer a new error-tolerant system where useful processing operations outweigh error-correcting ones. This is exactly what Brown achieved.

"My approach to suppressing errors is to use a code that operates across the surface of the architecture in two dimensions. The effect of this is to free up a lot of the hardware from error correction and allow it to get on with the useful stuff," Brown explained.

The result is an approach that could change quantum computing forever.

"This result establishes a new option for performing fault-tolerant gates, which has the potential to greatly reduce overhead and bring practical quantum computing closer," saidDr. Naomi Nickerson, Director of Quantum Architecture at PsiQuantum in Palo Alto, California, who is not connected to the research.

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Top Artificial Intelligence Trends that will Change the Decade – Analytics Insight

Posted on May 25, 2020 by admin

As we began the new decade, technology is changing by leaps and bounds. The initial predictions for 2020 point to a serious integration of AI and human experience to study how Intelligent Automation technologies can be used to augment an enterprise experience.

Here are the top Artificial Intelligence (AI) trends that will change the decade:

The new decade will witness massive investments by global technology giants into AI technologies. In 2020, many factories of AI models and data will emerge helping AI technology and associated commercial solutions on a large-scale facilitating the enterprise. For instance, AI solutions in the customer service industry find its use cases in e-commerce, education, finance and related industries on a large scale.

Digital IQ will rise in this decade. Digital Intelligence is defined as the measurement of how organizations understand its business processes and the content and data within them from a variety of critical perspectives.

Digital Intelligence solutions assist enterprises by optimizing automation initiatives and complementing platforms like business process management and robotic process automation. 2020 will witness more and more enterprises adopting digital intelligence technologies into their digital transformation initiatives.

Deep learning is imperative to the development threshold of AI technology improving the quality and efficiency of AI applications. In 2020 and beyond, deep learning will be applied across multi-industries at a scale to accelerate transformation, upgrading and implement innovation.

According to the IDC (International Data Corporation) research, digital workers like software robots and cognitive bots will witness a growth of over 50% by 2022. Enterprises will welcome many digital robots willing to take up rule-based tasks in the office. Employees across geographies will collaborate with digital workers working alongside them in the future.

Individual technology systems like ERP, CRM, CMS, EHR, etc provides visibility into the processes controlled by their platform. To gain visibility, organizations will need to leverage Process Intelligence technologies which provide an accurate, comprehensive and real-time view of all processes across multiple functionalities, departments, personnel, functions across different locations.

In 2020 and beyond, AI will not only benefit the user experience but will be increasingly adopted by business users across geographies. Enterprises will leverage the internal marketplaces of robots and other easy-to-use automation tools available to across technical proficiencies. These new platforms will play a pivotal role in improving how employees get work done to improve customer experiences better than the competition.

Enabling cognitive automation will require new tools built for the task. AI-enabled Process and Content Intelligence technologies will provide digital workers with the skills and understanding necessary to deal with natural language, reasoning, and judgment, establishing context, providing data-driven insights.

The normalcy of AI in the workplace will also be the reason we see more human interaction with AI.

With the successful demonstration of quantum hegemony, quantum computing will usher in a new round of explosive growth in 2020. In terms of quantum hardware, the performance of programmable medium-sized noisy quantum devices will be further improved and have the ability of error correction. Quantum algorithms with certain practical value will be able to run on them, and the application of quantum artificial intelligence will be greatly developed.

In terms of quantum software, high-quality quantum computing platforms and software will emerge and be deeply integrated with AI and cloud computing technologies. Besides, with the emergence of the quantum computing industry chain, quantum computing will surely garner more attention in more application fields.

Organizations big and small will now invest in systems and methods to collect and record all the data they can, in a bid to improve their business process and functionalities.

The rapid growth in data, the reduced cost in storage, and the ease to access the data have shown incredible growth from the last decade. Data is driving the improvement of the customer experience, advancing analytics capabilities, allowing businesses to harness real value from intelligent automation, and enabling machine learning and AI that is driven by data.

Artificial intelligence can reshape and redefine the way we work and live. The growing trend we expect to see, and more is the integration of AI-enabled solutions in the workplace. These tools will help create better outcomes, ensuring enterprises are achieving their goals in a timely and efficient fashion setting new user experiences. When thinking about the needs of the hybrid workforce, leaders need to decide if simple task-based automation tools are the answer to their problems, or if they will require a mix of AI and other transformative technologies to achieve the next-gen intelligent and cognitive automation.

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Kamalika Some is an NCFM level 1 certified professional with previous professional stints at Axis Bank and ICICI Bank. An MBA (Finance) and PGP Analytics by Education, Kamalika is passionate to write about Analytics driving technological change.

Archer Materials a market mover with shares up as much as 35% to record high – Proactive Investors Australia

Posted on May 25, 2020 by admin

The company has performed strongly this month with shares rising from 18 cents to 78 cents on strong daily volumes.

() is a strong ASX market mover today with shares up as much as 35% on the previous close to a new record high of 78 cents.

The previous all-time high was 45 cents on May 1, 2012.

Archer has been performing well this month on the back of strong newsflow with shares up from 18 cents on May 1 and a market cap of approximately $114.1 million.

Trading volumes have also been high with more than 92 million shares traded so far this month compared to a daily average below 1 million for the previous three months.

The announcement on May 5 of an agreement with International Business Machines Corporation () to work together on advancing quantum computing saw more than 20 million shares traded on that day and shares more than doubling to a new 8-year high of 38 cents.

As part of this agreement, Archer is now a member of the IBM Q Network and associated IBM Quantum Experience for Business program.

Archer is the first Australian company developing a quantum computing processor and hardware to join the invitation-only, IBM Q Network.

Archer CEO Dr Mohammad Choucair said: We are the first Australian company building a quantum chip to join into the global IBM Q Network as an ecosystem partner, a group of the very best organisations at the forefront of quantum computing.

Ultimately, we want Australian businesses and consumers to be one of the first beneficiaries of this exciting technology, and now that we are collaborating with IBM, it greatly increases our chances of success.

We look forward to working with IBM and members of the network to address the most fundamental challenges to the wide-scale adoption of quantum computing, using our potentially complementary technologies as starting points.

Also, this month shares rose on news that a licensed European Patent (EP) application filed under the Patent Cooperation Treaty for AXEs 12CQ quantum computing chip materials technology was proceeding to the substantial examination stage.

The EP Application is set to protect and commercialise intellectual property associated to the 12CQ quantum computing chip materials technology (IP).

Following steps involve procedural matters related to formal compliance and patent examination immediately prior to the patent being able to be granted for protection in Europe.

Last week, the company advised that a bulk sample from the Franklyn Halloysite-Kaolin Project in South Australia had arrived in the US for tests by a leading kaolin minerals industry laboratory.

The sample was collected from drilling at the Franklin project.

Resulting halloysite and kaolin samples from the pilot plant testing will be sent to potential downstream customers for product testing and verification purposes.

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Archer Materials a market mover with shares up as much as 35% to record high - Proactive Investors Australia

What is machine learning? | MIT Technology Review

Posted on May 25, 2020 by admin

Machine-learning algorithms are responsible for the vast majority of the artificial intelligence advancements and applications you hear about. (For more background, check out our first flowchart on "What is AI?" here.)

Machine-learning algorithms use statistics to find patterns in massive* amounts of data. And data, here, encompasses a lot of thingsnumbers, words, images, clicks, what have you. If it can be digitally stored, it can be fed into a machine-learning algorithm.

Machine learning is the process that powers many of the services we use todayrecommendation systems like thoseon Netflix, YouTube, and Spotify; search engines like Google and Baidu; social-media feeds like Facebook and Twitter; voice assistants like Siri and Alexa. The list goes on.

In all of these instances, each platform is collecting as much data about you as possiblewhat genres you like watching, what links you are clicking, which statuses you are reacting toand using machine learning to make a highly educated guess about what you might want next. Or, in the case of a voice assistant, about which words match best with the funny sounds coming out of your mouth.

Frankly, this process is quite basic: find the pattern, apply the pattern. But it pretty much runs the world. Thats in big part thanks to an invention in 1986, courtesy of Geoffrey Hinton, today known as the father of deep learning.

Deep learning is machine learning on steroids: it uses a technique that gives machines an enhanced ability to findand amplifyeven the smallest patterns. This technique is called a deep neural networkdeep because it has many, many layers of simple computational nodes that work together to munch through data and deliver a final resultin the form of the prediction.

Neural networks were vaguely inspired by the inner workings of the human brain. The nodes are sort of like neurons, and the network is sort of like the brain itself. (For the researchers among you who are cringing at this comparison: Stop pooh-poohing the analogy. Its a good analogy.) But Hinton published his breakthrough paper at a time when neural nets had fallen out of fashion. No one really knew how to train them, so they werent producing good results. It took nearly 30 years for the technique to make a comeback. And boy, did it make a comeback.

One last thing you need to know: machine (and deep) learning comes in three flavors: supervised, unsupervised, and reinforcement. In supervised learning, the most prevalent, the data is labeled to tell the machine exactly what patterns it should look for. Think of it as something like a sniffer dog that will hunt down targets once it knows the scent its after. Thats what youre doing when you press play on a Netflix showyoure telling the algorithm to find similar shows.

In unsupervised learning, the data has no labels. The machine just looks for whatever patterns it can find. This is like letting a dog smell tons of different objects and sorting them into groups with similar smells. Unsupervised techniques arent as popular because they have less obvious applications. Interestingly, they have gained traction incybersecurity.

Lastly, we have reinforcement learning, the latest frontier of machine learning. A reinforcement algorithm learns by trial and error to achieve a clear objective. It tries out lots of different things and is rewarded or penalized depending on whether its behaviors help or hinder it from reaching its objective. This is like giving and withholding treats when teaching a dog a new trick. Reinforcement learning is the basis of Googles AlphaGo, the program that famously beat the best human players in the complex game of Go.

Thats it. That's machine learning. Now check out the flowchart above for a final recap.

*Note: Okay, there are technically ways to perform machine learning on smallish amounts of data, but you typically need huge piles of it to achieve good results.

___

This originally appeared in our AI newsletter The Algorithm. To have it directly delivered to your inbox,subscribe herefor free.

Machine learning helps Invisalign patients find their perfect smile – CIO

Posted on May 25, 2020 by admin

The mobile computing trend requires enterprises to meet consumers' expectations for accessing information and completing tasks from a smartphone. But there's a converse to that arrangement: Mobile has also become the go-to digital platform companies use to market their goods and services.

Align Technology, which offers the Invisalign orthodontic device to straighten teeth, is embracing the trend with a mobile platform that both helps patients coordinate care with their doctors and entices new customers. The My Invisalign app includes detailed content on how the Invisalign system works, as well as machine learning (ML) technology to simulate what wearers' smiles will look like after using the medical device.

"It's a natural extension to help doctors and patients stay in touch," says Align Technology Chief Digital Officer Sreelakshmi Kolli, who joined the company as a software engineer in 2003 and has spent the past few years digitizing the customer experience and business operations. The development of My Invisalign also served as a pivot point for Kolli to migrate the company to agile and DevSecOps practices.

My Invisalign is a digital on-ramp for a company that has relied on pitches from enthusiastic dentists and pleased patients to help Invisalign find a home in the mouths of more than 8 million customers. An alternative to clunky metal braces, Invisalign comprises sheer plastic aligners that straighten patients' teeth gradually over several months. Invisalign patients swear by the device, but many consumers remain on the fence about a device with a $3,000 to $5,000 price range that is rarely covered completely by insurance.

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Machine learning helps Invisalign patients find their perfect smile - CIO

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