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Beyond Bitcoin and Ethereum: International Companies Are Reportedly Turning to Digital Currencies for Cross-Border Transactions – The Daily Hodl

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Business payment and accounting solutions firm Gilded says companies are now turning to stablecoins as a crypto payment alternative to Bitcoin (BTC) and Ethereum (ETH).

Digital currencies offer a cheaper and faster option to traditional cross-border payment methods but the advantages do not generally apply to businesses that transact large amounts of money. Many companies find the technology too complicated, and the volatility of the crypto market also discourages the use of BTC and ETH.

In an interview with Pyments.com, Gilded chief operating officer Neal Roche says the use of digital currency in B2B payments is changing as stablecoins are easing the transition to the new technology for cross-border transactions. Stablecoins are designed to hold their value against fiat or other stable assets so that they do not fluctuate as erratically as other cryptocurrencies.

Stablecoins have seen a huge influx in the last few months. This is lowering the barrier for traditional businesses to take advantage of digital currency, versus the wild west of cryptocurrency that companies dont want to touch.

Gildeds digital currency payment solution also addresses other concerns that prevent companies from using cryptocurrency for international transactions.

Last month, Gilded announced that crypto data provider CoinMarketCap has deployed its solution for automating invoicing and instant global payments using digital currency.

Gildeds solution eliminates cumbersome setups and expert training. It also integrates credit card and bank wire transfers, so customers who are not yet ready to use digital currencies can opt for their preferred payment method.

Gilded CEO Gil Hildebrand says,

Digital currency empowers businesses to transact globally, while accelerating cash flow and minimizing fees. Our solution puts digital currency payments and accounting on autopilot, so businesses can focus on innovation and growth.

Roche is optimistic that the use of digital currency could become a norm as more businesses explore the benefitsof cryptocurrency for cross-border transactions.

Featured Image: Shutterstock/KeepWatch

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Beyond Bitcoin and Ethereum: International Companies Are Reportedly Turning to Digital Currencies for Cross-Border Transactions - The Daily Hodl

Diabolical Cryptocurrency and COVID-19 Vaccine: Oscar-Winning Director Has Insane Theory About Bill – U.Today

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Alex Dovbnya

Russian director Nikita Mikhalkov joins the list of conspiracy theorists who spread falsehoods about Microsoft co-founder Bill Gates

Russian Oscar-winningdirector Nikita Mikhalkov has found an occult link in Microsofts cryptocurrency patent.

In a new episode of his Besogon TV show, Mikhalkov points to the fact that the name of the patent contains the devil's number, which he finds alarming:

Mikhalkov has also jumped on another Bill Gates conspiracy bandwagon about how the billionaire wants to implant microchips in all humans by funding the development of a COVID-19 vaccine.

Gates has become the target of right-wing activists because of a prescient video, in which he predicted a pandemic in 2015.

Big data company Zignal Labs more than one million social media and TV mentions that link the Microsoft co-founder to the deadly virus.

The Microsoft patent, which was revealed in late February, relies on physical activity and brain waves to mine crypto as a form of the proof-of-work algorithm. This futuristic concept has become a breeding ground for a myriad of falsehoods.

As reported by U.Today, right-wing pastor Steve Cioccolanti claimed that Gates wanted humans crypto mined despite the fact that the latter wasnt involved in the patents creation.

Gates left Microsofts board of directors back in March to focus on COVID-19.

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Diabolical Cryptocurrency and COVID-19 Vaccine: Oscar-Winning Director Has Insane Theory About Bill - U.Today

Jio-Facebook deal likely to boost adoption of crypto-blockchain in India – Business Standard

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Social media giant Facebook's decision to pick up a minority stake in Reliance Industries-owned Jio is likely to boost the adoption of cryptocurrency and blockchain technology in the country.

According to experts tracking this development, this may result in Reliance Jio piloting a cryptocurrency that can be unilaterally used for discounts or reward points within its telecom, entertainment and e-commerce businesses, once regulatory hurdles are cleared. The behemoth is also expected to look at using blockchain technology for easing supply chain constraints, they said.

"It certainly is a significant development considering that both the giants have a massive interest in blockchain and cryptocurrency. It will only be a matter of time before we see the two forces join to bring in some blockchain or cryptocurrency-based payments into the already thriving digital payment space in India," said Ashish Singhal, co-founder and CEO of Cruxpaya cryptocurrency exchange aggregator platform.

Singhal also said the Mukesh Ambani-led conglomerate may use blockchain technology for tracking inventory of Kirana stores and thereby also use of a stable coin like Libra or other crypto assets for payments. This comes as Jio Mart has already started interacting with customers of Kirana stores on the use of WhatsApp for grocery orders in Navi Mumbai, Thane and Kalyan in Mumbai.

ALSO READ: Six-fold increase in food grain transport by South Central Railway in April

"When Facebook and Jio combine, it's an obvious next step for them to explore blockchain crypto-related initiatives in India. Both are highly innovative companies and I dont think that they would sit on the sidelines while the world moves ahead in crypto," said Nischal Shetty, founder of WazirX, a cryptocurrency exchange backed by Binance. Binance is the world's largest cryptocurrency exchange in terms of trading volumes.

"WhatsApp trying to crack payments market in India also brightens the chance for crypto initiatives emerging from this partnership," Shetty said, adding that a crypto loyalty token that can be used in Facebook and Jio properties would be a good first step to attract users for early adoption.

"Another possibility could be deploying a centralised closed-system, a unidirectional cryptocurrency that could be used only in the Reliance universe of Jio phone, Ajio e-commerce store or JioMart," said Ashim Sood, a Supreme Court lawyer, who appeared for the Internet and Mobile Association of India (IAMAI), which had obtained a favourable ruling last month in the case of the Reserve Bank of India's ban on cryptocurrency.

ALSO READ: Steel output slumps 13% in March due to Covid-19, steepest fall in 8 years

It is similar to a reward points system or video-game points that can be exchanged for discounts which will have a straightforward valuation and which could limit speculation.

Last week, Facebook announced it would invest Rs 43,547 crore ($5.7 billion) in RIL's wholly-owned subsidiary Jio Platforms to expand its presence in India for a 9.9 per cent stake in Jio. This transaction also marked the largest foreign direct investment for a minority investment in India.

Last August, Mukesh Ambani announced to build the world's largest blockchain networks in the world with tens of thousands of nodes, at the company's annual general meeting.

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Jio-Facebook deal likely to boost adoption of crypto-blockchain in India - Business Standard

Bitcoin Accounts For 78% Of The Cryptocurrency Derivatives Market In Q1 2020, Study Finds – CryptoPotato

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According to a new study, the total trading volume of cryptocurrency derivatives has increased dramatically by over 300%.

At the same time, BitMEXs leadership position in the field has been challenged by Huobi, OKEx, and Binance.

And amid the most apprehensive days of uncertainty prompted by the eventual aftermath of the COVID-19, the cryptocurrency market went through a substantial losses. Most assets plunged by as much as 50% in mid-March.

During these times of hyper volatility, however, trading volume was surging, especially on cryptocurrency derivatives trading platforms.

According to the report compiled by TokenInsight, in Q1 2020 alone, the total futures trading volume in the industry reached $2,1048 trillion, an increase of 314% from Q4 2019.

The graph above also demonstrates the yearly interest growth in futures trading. The total market turnover in Q1 2020 is approximately eight times higher than Q1 2019.

The average daily trading volume of the whole market in this quarter was roughly $23.3B, which is a 274% increase from last year.

As the price was going down at unprecedented rates, however, so did liquidations. BitMEX alone saw just shy of $500 million worth of liquidated positions in less than a few hours.

Over 90% of the futures market volume came from three major asset contracts. Bitcoin was accounted for 78% of the market share, while Ethereum has 9%. A bit surprisingly, EOS took the 3rd spot with 3%.

In terms of trading volume by exchanges, the paper concluded that BitMEXs leading position has been taken.

The data from Q1 2020 indicated that several exchanges had total futures turnover exceeding $100B. Those included the new leaders in this category Huobi DM ($428B) and OKEx ($417B). BitMEX ($310B) and Binance Futures ($222B) were holding the 3rd and 4th positions.

In this exchange ranking, the top three exchanges accounted for 56% of the market volume, and the top six accounted for 81%, the report outlined.

However, fully regulated exchanges have not developed significantly. CME and Bakkt trading volumes came to about $6.83B, and $1.51B, respectively. Of course, its worth noting that both of them are oriented towards institutional clients which require a lot more oversight and control.

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Bitcoin Accounts For 78% Of The Cryptocurrency Derivatives Market In Q1 2020, Study Finds - CryptoPotato

Bitcoin Attracted $63 Billion Less Than the Money Market YTD, What Does This Show? – Bitcoinist

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The Bitcoin market rose by more than 20 percent on its year-to-date timeframe, beating Gold, Oil, the S&P 500, and every top traditional asset. But the cryptocurrencys surplus inflows failed to match the ones attracted by money-market funds.

Data provided by EPFR Global showed that cash and cash-based instruments drew about $91.5 billion in 2020, bringing its total YTD above $1.1 trillion. The institutional data aggregator further noted that funds into the bond market went over $10 billion three weeks in a row, adding that flows into the European bond funds hit a 30-week top.

Money market funds pitted against other fund groups | Source: EPFR, FT

At the same time, net inflows into the U.S. and global market bonds boomed.

The vast capital inflow appeared as investors shunned risk assets amid concerns about the deadly coronavirus pandemic and its impact on the global economy. Analysts at Bank of America ran a survey in April 2020 that showed institutional investors now hold more cash than they did after the 9/11 terrorist attacks.

Bitcoin, a modernly perceived safe-haven asset, was to pose as an emerging competitor to traditional hedging assets. But the cryptocurrencys sudden price crash in March led it to swap the haven narrative for that of risk-on. It had since followed the S&P 500 index to its falls and rebounds.

The bitcoin market capitalization rebounded alongside the U.S. benchmark from their March lows on optimism about expanding stimulus aid. But even with a $28.6 billion YTD turnover, the cryptocurrency failed to beat money-market funds.

Bitcoin market cap | Source: TradingView.com

The $63 billion difference between the net inflows in the bitcoin and money-markets appeared extraordinarily polarized for an asset that claims to be a safe-haven.

Edward Moya, a senior market analyst at foreign-exchange brokerage OANDA, noted back in March that cash stockpiling erased value out of the cryptocurrencys market cap.

He meanwhile added that even with a recovery in risk appetites, mainstream investors would stay away from bitcoin.

I think the big problem with bitcoin is that the regulatory pressures are not going away any time soon and youre just seeing a lack of confidence in risky assets, Mr. Moya told Money.

Some top analysts within the cryptocurrency space, meanwhile, see cash as a short-term hedge for investors. They argue that the US dollar and in fact, every national currency, carries the risks of inflation. Its oversupplied status leads investors, especially millennials, towards deflationary alternatives.

Bitcoin, with its 8,000 percent-something bull run in a decade and a definite supply cap, could, therefore, behave a long-term hedge for anybody who wants averse risks from its investment portfolio.

Even a portfolio with 90% garbage that goes down, and 10% Bitcoinwill do well, asserted finance broadcaster Max Keiser.

So far, bitcoin is doing well albeit lesser than cash.

Photo by Dmitry Demidko on Unsplash

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Bitcoin Attracted $63 Billion Less Than the Money Market YTD, What Does This Show? - Bitcoinist

FBI Documents Reveal Communication Between Roger Stone and Julian Assange – TIME

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(WASHINGTON) Weeks after Robert Mueller was appointed special counsel in the Russia investigation, Roger Stone, a confidant of President Donald Trump, reassured WikiLeaks founder Julian Assange in a Twitter message that if prosecutors came after him, I will bring down the entire house of cards, according to FBI documents made public Tuesday.

The records reveal the extent of communications between Stone and Assange, whose anti-secrecy website published Democratic emails hacked by Russians during the 2016 presidential election, and underscore efforts by Trump allies to gain insight about the release of information they expected would embarrass Democratic opponent Hillary Clinton.

The documents FBI affidavits submitted to obtain search warrants in the criminal investigation into Stone were released following a court case brought by The Associated Press and other media organizations.

They were made public as Stone, convicted last year in Muellers investigation into ties between Russia and the Trump campaign, awaits a date to surrender to a federal prison system that has grappled with outbreaks of the coronavirus.

In a June 2017 Twitter direct message cited in the records, Stone reassured Assange that the issue was still nonsense and said as a journalist it doesnt matter where you get information only that it is accurate and authentic.

He cited as an example the 1971 Supreme Court ruling that facilitated the publishing by newspapers of the Pentagon Papers, classified government documents about the Vietnam War.

If the US government moves on you I will bring down the entire house of cards, Stone wrote, according to a transcript of the message cited in the search warrant affidavit. With the trumped-up sexual assault charges dropped I dont know of any crime you need to be pardoned for best regards. R.

Stone was likely referring to a sexual assault investigation dropped weeks earlier by Swedish authorities. Assange, who at the time was holed up in the Ecuadorian embassy in London, was charged last year with a series of crimes by the U.S. Justice Department, including Espionage Act violations for directing former Army private Chelsea Manning in one of the largest compromises of classified information in U.S. history.

Assange responded to Stones 2017 Twitter message by saying: Between CIA and DoJ theyre doing quite a lot. On the DoJ side thats coming most strongly from those obsessed with taking down Trump trying to squeeze us into a deal.

Stone replied that he was doing everything possible to address the issues at the highest levels of Government.

The records make clear the Trump campaigns curiosity about what information WikiLeaks was going to make public. Former White House adviser Steve Bannon told Muellers team under questioning that he had asked Stone about WikiLeaks because he had heard that Stone had a channel to Assange, and he was hoping for more releases of damaging information.

In a statement Tuesday, Stone acknowledged that the search warrant affidavits contain private communication, but insisted that they prove no crimes.

I have no trepidation about their release as they confirm there was no illegal activity and certainly no Russian collusion by me during the 2016 Election. There is, to this day, no evidence that I had or knew about the source or content of the Wikileaks disclosures prior to their public release, Stone said.

Stone was among six associates of Trump charged in Muellers investigation. He was convicted last year of lying to House lawmakers, tampering with a witness and obstructing Congress own Russia probe.

A judge in February sentenced Stone to 40 months in prison in a case that exposed fissures inside the Justice Department the entire trial team quit the prosecution amid a dispute over the recommended punishment and between Trump and Attorney General William Barr, who said the presidents tweets about ongoing cases made his job impossible.

____

Associated Press writer Jill Colvin in Washington contributed to this report.

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FBI Documents Reveal Communication Between Roger Stone and Julian Assange - TIME

Australian arts online guide: the best livestreams and on-demand comedy, music, theatre, exhibitions and more – ABC News

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We miss the arts as much as you do, so we're trialling this new guide to where you can find theatre, comedy, dance, writer's talks and all that jazz, which will be updated a few times per week, for the week ahead.

The recommendations will focus on Australian content, with occasional international gems thrown in too.

There will be a genuine world premiere, live-streaming arts (gold!), streams from the archive, on-demand dates, bite-sized bits of content from Australian artists and theatre companies, and recommendations for the best 'virtual' exhibitions (ideally something that gives you the feeling of 'being there').

Weekly: ACMI CinemathequeThe Australian Centre for the Moving Image (ACMI) Cinematheque is forging ahead through the lockdown: each Tuesday via their Facebook page they announce a double feature of streaming films, information on where to watch the selected films and accompanying notes for the next day's virtual cinematheque. You can even watch with friends, via Metastream. Tonight, a double bill of westerns: Decision At Sundown (1957) and Gunman's Walk (1958).

Weekly, 7pm AEST: Sound Gallery SessionsMonash University are live-streaming recitals from their David Li Sound Gallery into your home, every Wednesday evening from 7pm. Tonight: Nu Soul and jazz from Allysha Joy, a member of Melbourne hip hop collective 30/70.

8pm AEST: Chelsea Manning in conversationThe Sydney Opera House brings you a conversation from their 2018 Antidote festival, between Chelsea Manning - who had been released from a US military prison the year before - and journalist Peter Greste. Their conversation covers Manning's activism in the areas of data privacy, surveillance, and trans politics, and will be available on Sydney Opera House's website.

Weekly, 7.30pm AEST: MSO LiveThe Melbourne Symphony Orchestra releases a recent performance from their archive every week on their YouTube channel. Performances remain on their YouTube page after the initial stream, including last week's release: the 2019 world premiere performance of Eumeralla: A War Requiem for Peace by Australian composer and soprano Deborah Cheetham.

Weekly, 8pm AEST: The Lounge Room SessionsAn initiative of the Riverboats Music Festival, every Tuesday, Thursday and Saturday night at 8pm musicians livestream a 30-minute set from their lounge rooms on The Lounge Room Sessions Facebook page. Tonight: Oh Mercy (solo). Viewers have an opportunity to donate to the artist during the stream, offering musicians a much-needed source of revenue.

Weekly, 8.30pm AEST: Lust in the Time of Coronavirus Every Thursday evening, award-winning novelist Krissy Kneen and guest readers read new erotic stories, hosted by Brisbane's Avid Reader bookstore. An 18+ live event, tickets are available up to 4pm on the day of the readings.

Fortnightly: Australian Dance Theatre ADAPTAdelaide-based company Australian Dance Theatre kick off their online season ADAPT tonight, with a 2018 recording of their Helpmann Award-winning show The Beginning of Nature. This is a rare chance to see contemporary Australian dance for free. Sign up to the ADAPT newsletter and ADT will deliver a new show to your inbox fortnightly on Fridays.

7pm AEST: Helen Bidou's Bidou ZoomsAnyone who is familiar with the oeuvre of Helen Bidou (alter-ego of comedian Anne Edmonds) either through her Get Krack!n appearances or through her acclaimed stand-up show Enter the Spinnaker Lounge, would know that a Bidou performance via Zoom will be both strange and thoroughly entertaining. It's being described as "THE Zoom event of this pandemic!" and the 40-minute show will feature old and new songs, special guests, a Q&A element and Bidou's signature sarongs. Tickets available on Eventbrite and there's another session at 8.30pm the following night.

Weekly: Prototype Care PackageEvery Friday until mid-June, Prototype will be delivering screen works (including short experimental films and video art) to your email inbox for you to watch over the next week. This includes new works made for the digital exhibition from Soda_Jerk collaborator Sam Smith (Hollywood Burn), Chilean experimental filmmaker Malena Szlam (Altiplano), documentary maker Sari Braithwaite (Paper Trails) and Australian Malaysian/Bidayah artist Tiyan Baker (Hard As You Can). Sign up on the Prototype website.

Weekly: Poet Laureates of MelbourneThe Melbourne City of Literature office will be sending out a new poem by a different poet straight to your inbox every Saturday, beginning this week. Sign up for your weekly dose of poetry reflecting on and responding to these strange times.

Weekly, 12.55pm AEST: Isol-aid music festivalHead over to Isol-aid's Instagram towards the end of the week to see who will be appearing in the latest edition of this weekly weekender. Previous iterations of the festival have seen Courtney Barnett, Ngaiire and Missy Higgins perform pared-down 20-minute live sets from their homes.

Weekly, 7pm, AEST: East Arnhem LiveIn the second concert of this series, the Andrew Gurruwiwi Band will be performing live from their home in Northern Territory's Gove Peninsula. It's a much-needed creative outlet for performers in remote areas cut off by COVID-19 restrictions, and an opportunity to get to know some of the music that's regularly featured on Yolngu Radio. Jump on the East Arnhem Land Facebook or Instagram pages to watch the performance.

Weekly, sunset-sunrise AEST: Spectra live stream Every Saturday from sunset to sunrise, MONA streams Ryoji Ikeda's light and sound artwork Spectra. This soothing work comprising 49 searchlights and a sound system and set up at the grounds of MONA's gallery in Hobart feels like a light-filled beacon of hope in this isolated and challenging time. Check out Spectra on the MONA website.

Fortnightly, 2pm AEST: Digital Dance ClubMelbourne collective All the Queens Men have created this fortnightly online dance party to keep "the rainbow and allied community [connected] during these turbulent times."

Weekly, 1.55pm AEST: Isol-aid music festivalHead over to Isol-aid's Instagram towards the end of the week to see who will be appearing in the latest edition of this weekly weekender.

Head On Photo Festival (May 2-17)

This annual Sydney festival, comprising exhibitions, workshops and panel discussions, is moving online because of the COVID-19 shutdown. Make sure you check out the Head On Awards exhibitions, which feature 100 finalists across three categories, including Portrait and Landscape (NB the winners will be announced at the Festival's launch party held online on Friday 1 May from 6pm).

The Scriptures That Guide The Way, by Chinese artist Jiang Zhe, is a highlight of the Pulse of the Dragon exhibition.(Supplied: Casula Powerhouse Arts Centre)Pulse of the Dragon

This group exhibition at Casula Powerhouse Arts Centre features a line-up of Chinese and Chinese-Australian artists whose work explores themes of "religious witchcraft", folklore and mythology in Chinese culture. It's a pretty spectacular show, in a pretty spectacular venue (if converted industrial is your aesthetic vibe). Pulse of the Dragon is curated by Chinese Australian artist Guan Wei and his Beijing peer Cang Xin.

Biennale of SydneyThe Museum of Contemporary Art have brought their part of the Biennale online, with a selection of artworks and galleries now available as 360-degree virtual experiences.

Rite of PassageEleven contemporary Aboriginal artists reflect on the 250 years since James Cook's arrival in this exhibition at QUT Art Museum in Brisbane and what a line-up: Glennys Briggs, Megan Cope, Nici Cumpston, Karla Dickens, Julie Gough, Lola Greeno, Leah King-Smith, Jenna Lee, Carol McGregor, Mandy Quadrio and Judy Watson. The online iteration uses software that allows the viewer to navigate through the exhibition galleries and 'stand' in front of artworks, then pan out to jump to another part of the exhibition.

NGV virtualThe National Gallery of Victoria has launched immersive virtual tours of its exhibitions: you can currently 'walk' through the their blockbuster (and normally ticketed) exhibitions Keith Haring | Jean Michel Basquiat: Crossing Lines (and listen to the audio guide at the same time) and Kaws: Companionship in the Age of Loneliness.

Bessie Davidson and Sally SmartBendigo Art Gallery have created an online version of their exhibition Bessie Davidson and Sally Smart: Two artists and the Parisian avant-garde. The exhibition, which was open for just one day before the gallery had to close, features more than 50 paintings by lesser-known Australian Impressionist Bessie Davidson, who found success in 19th-century Paris, alongside works by her great-niece: renowned Australian artist Sally Smart.

On Arts iview from Friday May 1, you can stream productions by Opera Australia, The Australian Ballet, Bangarra Dance Theatre and Sydney Theatre Company. Highlights include Bangarra's breakthrough production Ochres (originally staged in 1995), STC's dreamlike production of Michael Gow's Away, and all of the Handa Operas on Sydney Harbour. Seven productions go online May 1, four more on May 8 and another four on May 15, and the roll-out will continue through to the first week of June.

Tasmanian Breath of Fresh Air (BOFA) Film FestivalThis annual festival taking place in Hobart and Launceston has a social-change mission, focusing on films that (explicitly or implicitly) question the status quo at home and abroad. This year's line-up of 17 films all available to stream, for free, from May 1-17 include a documentary about a new generation of French vinters making organic and natural wines; an Aussie thriller about a young female slam-poet in Bankstown, who goes missing; and the tale of a little boy dreaming of TV fame while growing up on the wild Mongolian steppes. Many of the films feature ravishing landscapes from Greenland ice-sheets to the lush deltas of Southern Africa so there's plenty of chances to escape beyond your lounge room.

The Australian Ballet perform Romeo and Juliet

From May 1-15, you can stream this production of Prokofiev's ballet, choreographed by Graeme Murphy. This week is your last chance to catch master choreographer Alexei Ratmansky's Cinderella, set to Prokofiev's score and created specially for The Australian Ballet.

Fran Lebowitz in ConversationResurfaced as part of Sydney Opera House's weekly digital program, this talk from the 2018 All About Women festival features the legendary writer, cultural commentator and New Yorker in conversation about her life, her home city, cultural nostalgia, and the world at large. Sharp is the word.

STC VirtualThis series by Sydney Theatre Company features bite-sized videos made by their artists and former collaborators during lockdown. Watch Tim Minchin performing a monologue from Hamlet in his living room; Kate Mulvany reading from the opening chapter of Ruth Park's Harp in the South; and Shari Sebbens performing monologues from seminal Indigenous Australian plays The Seven Stages of Grieving and Stolen.

Together in ArtThe Art Gallery of NSW Together in Art project features online performances (like singer Sarah Belkner performing inside the now-closed Shadow catchers exhibition), artist interviews (right now there's a video interview with Torres Strait Islander visual artist Gail Mabo) and art how-to-guides (including a face-drawing lesson from Ben Quilty, accompanied by his daughter Livvy).

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Australian arts online guide: the best livestreams and on-demand comedy, music, theatre, exhibitions and more - ABC News

How Machine Learning Is Redefining The Healthcare Industry – Small Business Trends

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The global healthcare industry is booming. As per recent research, it is expected to cross the $2 trillion mark this year, despite the sluggish economic outlook and global trade tensions. Human beings, in general, are living longer and healthier lives.

There is increased awareness about living organ donation. Robots are being used for gallbladder removals, hip replacements, and kidney transplants. Early diagnosis of skin cancers with minimum human error is a reality. Breast reconstructive surgeries have enabled breast cancer survivors to partake in rebuilding their glands.

All these jobs were unthinkable sixty years ago. Now is an exciting time for the global health care sector as it progresses along its journey for the future.

However, as the worldwide population of 7.7 billion is likely to reach 8.5 billion by 2030, meeting health needs could be a challenge. That is where significant advancements in machine learning (ML) can help identify infection risks, improve the accuracy of diagnostics, and design personalized treatment plans.

source: Deloitte Insights 2020 global health care outlook

In many cases, this technology can even enhance workflow efficiency in hospitals. The possibilities are endless and exciting, which brings us to an essential segment of the article:

Do you understand the concept of the LACE index?

Designed in Ontario in 2004, it identifies patients who are at risk of readmission or death within 30 days of being discharged from the hospital. The calculation is based on four factors length of stay of the patient in the hospital, acuity of admission, concurring diseases, and emergency room visits.

The LACE index is widely accepted as a quality of care barometer and is famously based on the theory of machine learning. Using the past health records of the patients, the concept helps to predict their future state of health. It enables medical professionals to allocate resources on time to reduce the mortality rate.

This technological advancement has started to lay the foundation for closer collaboration among industry stakeholders, affordable and less invasive surgery options, holistic therapies, and new care delivery models. Here are five examples of current and emerging ML innovations:

From the initial screening of drug compounds to calculating the success rates of a specific medicine based on physiological factors of the patients the Knight Cancer Institute in Oregon and Microsofts Project Hanover are currently applying this technology to personalize drug combinations to cure blood cancer.

Machine learning has also given birth to new methodologies such as precision medicine and next-generation sequencing that can ensure a drug has the right effect on the patients. For example, today, medical professionals can develop algorithms to understand disease processes and innovative design treatments for ailments like Type 2 diabetes.

Signing up volunteers for clinical trials is not easy. Many filters have to be applied to see who is fit for the study. With machine learning, collecting patient data such as past medical records, psychological behavior, family health history, and more is easy.

In addition, the technology is also used to monitor biological metrics of the volunteers and the possible harm of the clinical trials in the long-run. With such compelling data in hand, medical professionals can reduce the trial period, thereby reducing overall costs and increasing experiment effectiveness.

Every human body functions differently. Reactions to a food item, medicine, or season differ. That is why we have allergies. When such is the case, why is customizing the treatment options based on the patients medical data still such an odd thought?

Machine learning helps medical professionals determine the risk for each patient, depending on their symptoms, past medical records, and family history using micro-bio sensors. These minute gadgets monitor patient health and flag abnormalities without bias, thus enabling more sophisticated capabilities of measuring health.

Cisco reports that machine-to-machine connection in global healthcare is growing at a rate of 30% CAGR which is the highest compared to any other industry!

Machine learning is mainly used to mine and analyze patient data to find out patterns and carry out the diagnosis of so many medical conditions, one of them being skin cancer.

Over 5.4mn people in the US are diagnosed with this disease annually. Unfortunately, the diagnosis is a virtual and time-taking process. It relies on long clinical screenings, comprising a biopsy, dermoscopy, and histopathological examination.

But machine learning changes all that. Moleanalyzer, an Australia-based AI software application, calculates and compares the size, diameter, and structure of the moles. It enables the user to take pictures at predefined intervals to help differentiate between benign and malignant lesions on the skin.

The analysis lets oncologists confirm their skin cancer diagnosis using evaluation techniques combined with ML, and they can start the treatment faster than usual. Where experts could identify malignant skin tumors, only 86.6% correctly, Moleanalyzer successfully detected 95%.

Healthcare providers have to ideally submit reports to the government with necessary patient records that are treated at their hospitals.

Compliance policies are continually evolving, which is why it is even more critical to ensure the hospital sites to check if they are being compliant and functioning within the legal boundaries. With machine learning, it is easy to collect data from different sources, using different methods and formatting them correctly.

For data managers, comparing patient data from various clinics to ensure they are compliant could be an overwhelming process. Machine learning helps gather, compare, and maintain that data as per the standards laid down by the government, informs Dr. Nick Oberheiden, Founder and Attorney, Oberheiden P.C.

The healthcare industry is steadily transforming through innovative technologies like AI and ML. The latter will soon get integrated into practice as a diagnostic aid, particularly in primary care. It plays a crucial role in shaping a predictive, personalized, and preventive future, making treating people a breeze. What are your thoughts?

Image: Depositphotos.com

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How Machine Learning Is Redefining The Healthcare Industry - Small Business Trends

African AI Platform To Host Webinar On How Machine Learning Can Be Used To Fight COVID-19 – Technology Zimbabwe

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Zindi the data science platform that connects data scientists and people who need their problems solved is hosting a free webinar titled From Models to Medical Care: in conversation with epidemiologists on the scientific frontlines.

The webinar will see 3 epidemiologists; Prof Wim Delva, Dr Brooke Nichols and Dr Elaine Nsoesie discuss how machine learning models are put into practice in the fight against COVID-19.

Zindis data scientist Johno Whitaker will also discuss Machine Learning approaches from one of their recently held competitions along with a question and answer session.

For data scientists and those in healthcare this will be an insightful webinar to tune into. The Zoom webinar will be hosted on the 5th of May from 5 PM- 7 PM.

If anything goes wrong, click here to enter your query.

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African AI Platform To Host Webinar On How Machine Learning Can Be Used To Fight COVID-19 - Technology Zimbabwe

Are Tutor Computers The Future of Algebra and Grammar Lessons? – Technology Networks

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Intelligent tutoring systems have been shown to be effective in helping to teach certain subjects, such as algebra or grammar, but creating these computerized systems is difficult and laborious. Now, researchers at Carnegie Mellon University have shown they can rapidly build them by, in effect, teaching the computer to teach.Using a new method that employs artificial intelligence, a teacher can teach the computer by demonstrating several ways to solve problems in a topic, such as multicolumn addition, and correcting the computer if it responds incorrectly.

Notably, the computer system learns to not only solve the problems in the ways it was taught, but also to generalize to solve all other problems in the topic, and do so in ways that might differ from those of the teacher, said Daniel Weitekamp III, a Ph.D. student in CMU's Human-Computer Interaction Institute (HCII).

"A student might learn one way to do a problem and that would be sufficient," Weitekamp explained. "But a tutoring system needs to learn every kind of way to solve a problem." It needs to learn how to teach problem solving, not just how to solve problems.

That challenge has been a continuing problem for developers creating AI-based tutoring systems, said Ken Koedinger, professor of human-computer interaction and psychology. Intelligent tutoring systems are designed to continuously track student progress, provide next-step hints and pick practice problems that help students learn new skills.

When Koedinger and others began building the first intelligent tutors, they programmed production rules by hand a process, he said, that took about 200 hours of development for each hour of tutored instruction. Later, they would develop a shortcut, in which they would attempt to demonstrate all possible ways of solving a problem. That cut development time to 40 or 50 hours, he noted, but for many topics, it is practically impossible to demonstrate all possible solution paths for all possible problems, which reduces the shortcut's applicability.

The new method may enable a teacher to create a 30-minute lesson in about 30 minutes, which Koedinger termed "a grand vision" among developers of intelligent tutors.

"The only way to get to the full intelligent tutor up to now has been to write these AI rules," Koedinger said. "But now the system is writing those rules."

A paper describing the method, authored by Weitekamp, Koedinger and HCII System Scientist Erik Harpstead, was accepted by the Conference on Human Factors in Computing Systems (CHI 2020), which was scheduled for this month but canceled due to the COVID-19 pandemic. The paper has now been published in the conference proceedings in the Association for Computing Machinery's Digital Library.

The new method makes use of a machine learning program that simulates how students learn. Weitekamp developed a teaching interface for this machine learning engine that is user friendly and employs a "show-and-correct" process that's much easier than programming.

For the CHI paper, the authors demonstrated their method on the topic of multicolumn addition, but the underlying machine learning engine has been shown to work for a variety of subjects, including equation solving, fraction addition, chemistry, English grammar and science experiment environments.

The method not only speeds the development of intelligent tutors, but promises to make it possible for teachers, rather than AI programmers, to build their own computerized lessons. Some teachers, for instance, have their own preferences on how addition is taught, or which form of notation to use in chemistry. The new interface could increase the adoption of intelligent tutors by enabling teachers to create the homework assignments they prefer for the AI tutor, Koedinger said.

Enabling teachers to build their own systems also could lead to deeper insights into learning, he added. The authoring process may help them recognize trouble spots for students that, as experts, they don't themselves encounter.

"The machine learning system often stumbles in the same places that students do," Koedinger explained. "As you're teaching the computer, we can imagine a teacher may get new insights about what's hard to learn because the machine has trouble learning it."ReferenceWeitekamp et al. (2020). An Interaction Design for Machine Teaching to Develop AI Tutors. CHI '20: Proceedings of the 2020 CHI Conference on Human Factors in Computing Systems. DOI: https://doi.org/10.1145/3313831.3376226

This article has been republished from the following materials. Note: material may have been edited for length and content. For further information, please contact the cited source.

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Are Tutor Computers The Future of Algebra and Grammar Lessons? - Technology Networks


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