Passenger data will be encrypted before being shared with consultant: IRCTC officials – Moneycontrol

IRCTC | CMP: Rs 735.15 | The stock price added over 9 percent last week. The Railways' catering and ticketing arm IRCTC floated a tender to engage a consultant for monetisation of its "digital data", including the bank of passenger data, the railway ministry is now reviewing the revenue generation plan. The IRCTC's plan to generate Rs 1,000 crore revenue from two sets of monetisation of data came under criticism amid concerns over data privacy, according to media reports. Sources in the ministry said the government would prefer to wait for the passage of the Data Protection Bill in Parliament before going ahead with this plan.

Days after privacy concerns were raised regarding the Indian Railways Catering and Tourism Corporation's tender to monetise its digital data, IRCTC officials told Moneycontrol that the company would encrypt data before sharing it with consultants.

"A unique identification code with travel patterns will be shared with a consultant," a senior company official said.

The official added that the unique identification code will not let consultants identify customers or have access to any sensitive customer information.

"Only IRCTC will have access to customers' sensitive information and the company will not let consultants have access to our encryption software," the official added.

Another source said that many data points in the tender such as name, login and password will be removed from the list of data points that may be used for studying and coming up with monetisation plans.

"There is no need for name. Data such as how many have travelled to a certain place; how many people between a certain age group travel in trains can be shared with the consultant, who will then provide products based on this data," another source said.

At the time of publishing, queries over email and texts sent to IRCTC remained unanswered.

A rethink?

The second official also clarified that IRCTC is bound to follow laws such as the IT Act 2000, European Union's General Data Protection Rules (GDPR) and other regulations as required. The consultant will be guiding IRCTC in this regard.

On its portal, IRCTC also offers options to book hotels, buses and so on.

"For offerings such as this, data is shared with service providers after signing an NDA that the shared data will not be reshared anywhere else," the second source added.

Moneycontrol has also learnt that IRCTC will rework the tender based on responses received in the pre-bid meeting.

As of now, further action on the tender (in its present form) has been postponed. A pre-bid meeting planned for August 24 has been delayed "till further advice" from IRCTC.

Privacy worries

In July, IRCTC floated an expression of interest for appointing a consultant who will study customer data including "name, age, mobile number, gender, address, email-id, no. of passenger, class of journey, payment mode, login/password" and identify a business model for monetisation of railways data.

This move raised concerns of privacy, with digital advocacy groups decrying the move. Recently, the Parliamentary Standing Committee on IT also summoned the IRCTC in this regard.

A notice issued by the Lok Sabha Secretariat saidIRCTC officials would brief members of the Standing Committee on Communications and Information Technology on August 26.

The call for the briefing comes days after the Indian railway's ticketing arm floated a tender to generate Rs 1,000 crore from the monetisation ofits data assets.

The plan tomonetise customer data led to outcry and invited criticism from expertsgiven theabsence of rules regarding personal data protection.

Lawyers also pointed out that the personal data provided by customers to IRCTC at the time of booking their rail tickets "was not explicitly for the purpose of monetisation".

Since then, it has been reported that IRCTC will allow passengers to opt out of the data monetisation plan, with The Economic Times reporting on August 23 that the process was only at a preliminary stage and any decision would bestrictly within "the confines of the law".

It is to be noted that India has no data protection rules and a draft Bill was recently withdrawn by the government from Parliament.

The data protection Bill that IRCTC has mentioned in the tender document is not even the latest version of the Bill that was withdrawn. The Ministry of Electronics and IT (MeitY) did not respond to a query on the potential privacy risks of IRCTCs proposal.

In a statement, digital rights group Internet Freedom Foundation last week had said that IRCTC, a government-controlled monopoly, must not prioritise perverse commercial interests over the rights and interests of citizens. And given the recent withdrawal of the Data Protection Bill, 2021, such monetisation becomes even more concerning.

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Passenger data will be encrypted before being shared with consultant: IRCTC officials - Moneycontrol

Lane Renews Years-Long Partnership With etherFAX to Continue to Deliver Secure Messaging for Enterprise Organizations – GlobeNewswire

SAN ANTONIO, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Lane is pleased to announce its continued partnership of nearly four years with etherFAX. By extending this well-established partnership, enterprise organizations across a wide range of industries can continue to take advantage of secure and rapid document transmission with the world's largest fax network.

etherFAX's Secure Exchange Network (SEN) has more connected endpoints than any other fax service. Providing end-to-end encryption and hybrid-cloud technology, the exchange of sensitive and unstructured data is impenetrable and highly protected. In addition, etherFAX supports every major fax server, application, and fax-enabled device for universal advantage.

"Lane has always taken immense pride in our partnership with etherFAX, as it allows us to deliver superior messaging solutions with the support of the secure exchange network," Liz Maya, CEO of Lane, stated. "By renewing our partnership, enterprise organizations across a wide range of industries can continue to enjoy the benefits of some of the fastest, most secure faxing solutions available."

Lane's partnership with etherFAX continues to enable the 100% secure document transfer through SENx, which is built upon etherFAX's end-to-end encryption technology. Providing reliable and speedy transmission of high-resolution digital content, SENx ascertains the communication between two parties is decipherable while using ECIES to ensure the integrity of the cryptogram. In doing so, unique keying material is generated that seeds the encryption, with information being validated through signature and authentication mechanisms.

HIPPA- and PCI DSS-compliant, as well as HITRUST-certified, SENx never compromises on document integrity or security.

"We're proud to extend our partnership with Lane and provide their customers with the most secure and reliable document delivery solution in the industry," said Quinn Corey, Director of Sales at etherFAX. "In addition to digital data and document exchange, etherFAX SEN enables enterprise organizations to optimize business processes, improve interoperability, and mitigate risk."

Lane's renewed partnership with etherFAX also allows Lane to continue to be a proud reseller of the etherFAX Remote Integration Service (ERIS). ERIS is completely scalable with simplified configuration and eliminates the need for outdated and expensive on-site fax servers that are difficult to maintain, set up, configure, and operate. As a stand-alone and fully customizable solution, ERIS can replace many local fax functions for businesses.

About etherFAX

Founded in 2009, etherFAX offers a secure document delivery platform and suite of applications widely used across a broad range of industries to digitize workflows and optimize business processes. As a leading provider of hybrid-cloud fax solutions supporting healthcare enterprises, etherFAX securely transmits protected health information and high-resolution, color documents directly to applications and devices with end-to-end encryption and ultra-fast transmission speeds. With more than six million connected endpoints, etherFAX is the world's largest document exchange network, supporting every major fax server, application, and fax-enabled device. The etherFAX partner network continues to grow and evolve to strengthen platform-agnostic document delivery to and from fax providers, fax servers, EHRs, and Health Information Exchanges, etherFAX services operate in a HIPAA and SOC 2-compliant environment that is both HITRUST CSF and PCI DSS-certified. For more information, visithttp://www.etherfax.net, call us at 877-384-9866, or emailsales@etherfax.net.

About Lane

Lane is recognized globally as a leader in secure messaging communications and fax integration across a wide range of industries. Lane aims to exceed expectations by applying robust and tailored solutions that yield tangible results for their clients. With a strong track record of implementing systems across 50 countries, Lane's team possesses extensive knowledge and experience in developing solutions from the largest financial institutions to healthcare companies, as well as other public and private enterprises.

This content was issued through the press release distribution service at Newswire.com.

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Lane Renews Years-Long Partnership With etherFAX to Continue to Deliver Secure Messaging for Enterprise Organizations - GlobeNewswire

Ukraine has shown the value cryptocurrency offers to real people – Cointelegraph

The world is still struggling to comprehend the geopolitical and human impact of the Ukraine war. With more than 10 million people fleeingtheir homes and 6 million seeking refuge in foreign countries, it's been a time to support a sovereign country under attack.

It has also proven to be the moment where cryptocurrency proved its true value to real people. Not as the high-concept tech toy for the wealthy elite as many had previously dismissed it, but rather as an empowering force for good in a dangerously unstable world.

When the Russian invasion began in February, Twitter accounts belonging to the Ukrainian government posted pleas for crypto asset donations. Now, as more than $100 million in crypto donations have already been raised to support the Ukrainian resistance, those of us who have championed crypto as a way of giving ordinary people rather than corporations and governments control over their own money have been vindicated. While the banking financial system has been under sustained attack by Russia, using both military and cyberattacks, this life-saving money has gone directly to those in need via crypto.

Ukraine took a number of measures in an effort to stabilize the banking sector and protect the countrys economy, including suspending foreign cash withdrawals, limiting how much currency can be withdrawn, and banning cross-border forex transactions. Consequently, Ukrainians are turning to borderless and trustless crypto to enable them to either survive in or flee from the war zone.

Related:The Ukraine invasion shows why we need crypto regulation

We can now see the value of having somewhere safe to store money in a time when the traditional financial system is under threat a completely separate payment infrastructure that can step in and pick up the slack if the current infrastructure is destroyed in a black swan event. Whether it is a state destroying our ability to pay for goods and services or even a major cyberattack, the blockchain provides a vital backup to halt the destruction of entire economies.

We have witnessed digital currencies being used to quickly transfer cash to those in need from relatives abroad, enabling fleeing refugees to buy crucial goods and services when there is no cash in their ATMs after critical infrastructure has been decimated by relentless Russian attacks. Anyone with a mobile phone and internet access which has been bolstered by the thousands of Starlink satellite internet dishes generously provided by Elon Musks SpaceX can access their funds via crypto wallets.

Crypto averting sanctions? Think again

Digital currencies have not only shown their worth in helping desperate Ukrainian refugees but also in preventing sanctions from being averted. Contrary to speculation at the onset of the conflict, desperate Russian oligarchs have discovered that crypto is not the safe haven for their funds that they had hoped.

As the United Kingdoms independent crypto industry association, we called on all of our members and the wider crypto community to take all necessary steps to enforce economic sanctions against Russia through engagement with professional compliance teams, blockchain analytics companies, the National Crime Agency and government experts in illicit finance.

Contrary to the outdated image of crypto as a digital currency favored by criminals, every transaction on the blockchain is, in fact, publicly available, providing a secure and transparent record on a ledger that anyone can see. This publicly available information means that exchanges can use transaction monitoring tools to trace the source of the funds and flag what is coming from blacklisted, sanctioned sources.

The list of blacklisted addresses is in the public domain, which means that exchanges can not only identify and block sanctioned names but also prevent them from opening accounts in the first place.

Lack of liquidity

Contrary to some speculation, if Russia wanted to evade sanctions by converting fiat currency into crypto today, it would be extremely difficult because there is insufficient liquidity in the market to support exchanging its fiat for cryptocurrency at a sufficient scale.

If an oligarch is attempting to convert $1 billion into crypto, they would find that this vast amount of digital currency is simply not available in one place because it is scattered across thousands of marketplaces.

Building digitally from ground zero

The legacy systems upon which our financial markets stand are not going anywhere, and quite rightly, because governments around the world value the safety, predictability and security they offer. But if we could start from scratch, it is likely that we would turn to blockchain technology, which is at the cutting edge of financial technology thanks to its superior efficiency. It does away with all the intermediaries, reduces the time to settle, increases the global reach for sending payments, and reduces costs.

Related:Ukraine has received $37M in tracked crypto donations so far

Big payment providers, which connect the banking world with merchants, have already embraced crypto, providing the ability to pay with digital currencies as an alternative to paying a credit card charge. The cost of these transactions has increased significantly in recent years, and if a company is turning over tens of millions of dollars per year, 2% is a lot of money. If they have another way to pay using crypto for a fee of less than 1%, it is a better choice.

Ukraines financial infrastructure may emerge from this tragic war at ground zero, and we may soon witness a modern society rebuilding its economy with a strong blockchain technology element built in. As the shockwaves of this tragic conflict resonate around the world, crypto has risen to the challenge and proven itself a vital source of both financial stability and accountability.

The views, thoughts, and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Ian Taylor is the executive director of CryptoUK, an independent industry body that exists as a cohesive, credible voice for the evolving United Kingdom digital assets industry. Having spent 20 years in investment banking, he has held many senior roles across trading, treasury and risk management, and is still involved with a major global bank. In his role he has built a community of more than 100 of the most influential industry participants and campaigns for a fit-for-purpose regulatory framework in the U.K., Europe and beyond.

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Why is the Cryptocurrency Market Crashing Today? – Watcher Guru

Just when investors thought that the markets were in a recovery mode, the markets gave out a reality check. The cryptocurrency market is crashing today as leading cryptos are down double digits. Theres still fear and panic as most cryptos shed the gains they generated last week. The crypto markets have continually been trading one step forward and two steps back in 2022, and todays crash is no different. Bitcoin plummeted nearly 8% on Friday, while Ethereum is down 5% and is expected to head south further.

In the last 24 hours, $550 million worth of cryptocurrencies have been liquidated from the markets. The overall crypto market cap is down nearly 7% and is standing at $1.09 trillion. The liquidation numbers are expected to fall further as Bitcoin is on a downward spiral.

Also Read: Shiba Inu, Doge Prices Tank Double Digits, XRP & BNB Close behind

The markets reacted to the FOMC Meeting Minutes as reports state that the Feds plan more interest rate hikes to tame inflation. The U.S central bank has not explicitly revealed the upcoming interest rates hike publicly. However, the Minutes Meeting suggests that the policymakers are committed to raising interest rates again.

The policymakers agreed that inflation rates did not subsidize despite their previous attempts to tame inflation. Participants agreed that there was little evidence to date that inflation pressures were subsiding, the Minutes Meeting read.

Also Read: Crypto Firm Hodlnaut slashes 80% of staff Amid Court Proceedings

Therefore, there are higher chances that the Feds might increase interest rates again in September. The decision will be confirmed in the next Minutes Meeting on September 20 and 21. It is reported that the Feds plan to double the rate of balance sheet shrinkage in September. However, the report is not confirmed until the Feds announce the next interest rate hike.

The FOMC Meeting was held on Wednesday, and the markets lost their cool after the release of the Minutes. The cryptocurrency markets are crashing today.

Heres what the FOMC Meeting Minutes read: Members agreed that, in assessing the appropriate stance of monetary policy, they would continue to monitor the implications of incoming information for the economic outlook and that they would be prepared to adjust the stance of monetary policy as appropriate in the event that risks emerged that could impede the attainment of the Committees goals.

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Why is the Cryptocurrency Market Crashing Today? - Watcher Guru

OFAC Around and Find Out – Lawfare

The cryptocurrency space has long hoped to emulate the business model of Uber: ignore the regulations until you can grow too big to regulate, a technique called regulatory escape velocity. With Uber, the primary tool was simply violating taxi regulations among thousands of independent municipalities and daring the local regulators to do something. With cryptocurrency, the common excuse is to just write code that ignores centuries of financial regulation and then let it loose upon the world.

The cryptocurrency ecology has now run into a regulator that thinks nothing is too big to regulate: The Office of Foreign Asset Control (OFAC). On Aug. 8, OFAC announced the addition of virtual currency mixer Tornado Cash and all of its wallets to the Specially Designated Nationals and Blocked Persons List (SDN list), of entities that it is illegal for U.S. persons, or really anything that touches the U.S. financial system, to do business with.

OFAC is not a business regulator like the Securities and Exchange Commission (SEC). OFAC doesnt have consumer protection interest or authority, nor does it investigate the various other little crimes (such as billion-dollar Ponzi schemes or industrial-scale securities fraud) that infest the cryptocurrency space. OFACs focus is national security, no different than the Army or Air Force branches. However, OFACs tools are sanctions, not soldiers, as a way of keeping money out of the hands of what are deemed national security threats.

This has implications beyond Tornado Cash, including how cryptocurrency mining and bridging may act in the future. And a griefer, an online individual who delights in causing problems for others, has also shown that most of these decentralized systems arent.

Tornado Cashs Designation and Its Implications for Decentralized Cryptocurrency

Tornado Cash was notorious for being an automated money laundering system that processed billions of dollars worth of stolen cryptocurrency, including almost a billion stolen by North Korea (DPRK). The response to OFACs designation was swift: Tornado Cashs github archive and website went away, and the founder of Tornado Cash found his personal github account suspended. And Dutch authorities even arrested one purported developer on Aug. 10.

Similarly, although the cryptocurrencies themselves are supposedly decentralized, actually using them requires centralized providers like Infura, which powers the popular cryptocurrency wallet MetaMask. Infura blocked MetaMask from accessing anything involving Tornado Cash, reminding everyone that the distributed, uncensorable Ethereum blockchain that powers Tornado Cash is amazingly dependent on centralized entities to deliver even remotely usable systems.

Likewise, the organization responsible for Tornado Cash, the Tornado Cash DAO (decentralized autonomous organization, basically a corporation that doesnt bother to do the paperwork to gain the legal protections of a corporation), decided to fold up shop as they cant fight the U.S. government, freezing future development and transferring funds initially intended to support continued development of the system to those who invested in the Tornado Cash governance token.

While these developments havent halted the smart contracts that operate Tornado Cash, they have severely disrupted the contracts in a few ways. First, without the web interface or MetaMask support, it requires an expert to access the underlying smart contracts to either withdraw or deposit Ethereum in Tornado Cash, a feature common to many decentralized projects. Even then, this disruption limits the utility as outputs of Tornado Cash are easy to identify as coming from Tornado Cash. Most central providers now treat such flows as dirty.

Second, it also effectively stops copycats. The Tornado Cash code is still out there, and someone can spin up a copycat for a couple hundred dollars worth of Ethereum gas fees, but any new mixing services are no longer nearly as useful for criminals. The mixing service needs many users to provide useful anonymity, so if there are few users it provides little benefit for the criminals. But if there are a significant number of users, it is nearly inevitable that this will include the DPRK, meaning Tornado Cash 2.0 will end up in the same situation as Tornado Cash Classic.

Third, as cryptocurrency analyst David Gerard put it, the cryptocurrency community has long believed that if you create an automated box where you put clean and dirty money in and shake it around, all the money comes out clean rather than dirty. The latest designation shows that OFAC has seen through this illusion, meaning that if Iran or North Korea finds the service useful at scale, then these boxes will be at risk of sanctions. Other regulators are likely to follow suit.

Another amusing lesson arises from a griefer who sent small amounts of Ethereum (0.1Eth or about $200) to numerous high-profile Ethereum wallets. These wallets then found themselves locked out of numerous decentralized services.

This was due to how centralized services Chainalysis, TRM, and Elliptic provide an oracle to say, This is a sanctioned wallet, do not accept, to the numerous centralized services that actually power the Ethereum ecology. These web pages then blocked access to the supposedly decentralized systems.

The disruption, although temporary, is a great demonstration that most of the cryptocurrency space is something I now describe as Derp-Centralized: centralized systems, powered by centralized entities, that simply abrogate their responsibilities unless threatened by a powerful regulatory authority like OFAC.

Going forward, OFAC should watch the Tornado Cash pools and pay attention to subsequent outflows as they indicate two groups of additional targets that OFAC will probably need to warn if not sanction in the future: the Ethereum miners themselves and various bridge protocols.

There is a myth that cryptocurrency miners are not involved in transactions because the system is decentralized. But the reality is that every transaction is included in the public record by a single block producer who is effectively the money transmitter for the transactions in the particular block.

Miners can refuse transactions that meet their individual criteria (and they have done so). Marathon Digital Holdings previously created an OFAC compliant Bitcoin mining pool, although they stopped this enforcement due to public backlash: Apparently the cryptocurrency community views violating OFAC sanctions as a desired property.

OFAC Moving Forward

Although previously most cryptocurrency mining occurred in China, China evicted the miners because of their obscene power consumption and other reasons. The mining has largely bounced all over the world, but a huge amount has now settled into the U.S. and Canada. This is due to a combination of inexpensive, reliable power as well as a strong rule of law. Of course, the strong rule of law comes with the condition that the miners too have to follow the law.

OFAC should offer a friendly reminder to all U.S.- and U.S.-adjacent-based cryptocurrency miners that they have an obligation to follow OFAC regulations. OFAC should elaborate that a miner that produces a block is responsible for the transactions contained in the block.

And it wouldnt be an undue burden for the miners. Marathon Holdings already showed it is possible to provide OFAC-compliant mining by using a risk-scoring method to exclude sanctioned transactions.

The list of sanctioned cryptocurrency wallets, across numerous blockchains, is now substantial. OFAC provides a convenient downloadable list, and as seen before there are central services that allow easy querying to determine if a transaction would run afoul of OFAC or other laws. Miners with a U.S. nexus need to abide by those laws.

The other likely target for future OFAC enforcement is bridge protocols. The primary blockchains, Ethereum and Bitcoin, are slow, congested, and expensive to use. So there exist services that will take a users Ethereum or other cryptocurrency on one system and transfer it to another as wrapped tokens. It was specifically the Ronin bridge that the DPRK targeted in its record-setting hack.

But bridges dont just serve to transfer cryptocurrency. They can also disguise cryptocurrency. A bridge, like a mixing service, represents a large pool of cryptocurrency where a participant can make a deposit and, at a later date, withdraw the cryptocurrency. The DPRK has already discovered this, apparently having laundered some $150 million through the RenBridge system out of some $500 million of dirty cryptocurrency.

The operators of this bridge, by not putting in proactive controls, are playing with fire. After all, they could modify both the front end and smart contracts to access the information needed to block OFAC-sanctioned entities from using the bridge.

Overall, the cryptocurrency communitys attempt at regulatory escape velocity has run into a huge obstacle: There is no escape velocity from the surface of a black hole. Things are now entering the Find Out stage of OFAC Around and Find Out.

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OFAC Around and Find Out - Lawfare

Discover Why Adirize May Make Millions And Is The Cryptocurrency You Should Purchase Even Ahead Of Solana Or – Bitcoinist

Volatility is the bane of cryptocurrencies, which is why they are unreliable as stores of value. This brought about the need for cryptocurrencies whose values are tied to a more stable asset or currency, usually a fiat currency like the US dollar. However, these stablecoins are not stable, and neither are they completely decentralized.

Fiat currencies lose value all the time, affecting the value of these stablecoins. So in real terms, the purchasing power of stablecoins does not remain constant. Also, fiat currencies are controlled by the federal reserves or central banks, negating decentralization. Adirize comes in.

Adirize is a project that aims to provide a decentralized algorithmic reserve currency through its token, ADI. ADI will be backed by a reserve of cryptocurrency assets owned by the Adirize protocol. So instead of borrowing liquidity, Adirize will own the liquidity.

ADI can be staked for rewards. To stake ADI, you buy the token in regular exchanges or exchange your liquidity for ADI. You then use the app to stake ADI. Staking rewards are denominated in stakedADI (sADI). Staking rewards are usually high, and your sADI has the same value as regular ADI while also being transferrable.

Another way to earn on Adirize is bonding. Bonding involves selling your liquidity to the blockchain to receive ADI tokens at a discounted rate. Bonding makes you a liquidity provider. You can also sell your ADI back to the protocol at a price higher than the market price for a piece of liquidity, known as inverse bonding.

Adirize DAO will be the governance arm of the ecosystem. ADI holders will participate in proposing, discussing, and voting on suggestions regarding the running of the ecosystem. A suggestion would require a majority of votes before it is adopted.

Solana is a decentralized blockchain utilizing smart contracts. It uses a proof of stake mechanism to create new blocks and validate transactions. It is known for its speed and cheap transaction fees.

Solana is considered a rival to Ethereum because they perform the same functions. It is also one of the fastest-growing blockchains. SOL is the native and governance token of the Solana ecosystem.

Although Solana is a popular platform for running dApps, the SOL token is still subject to the whims of the market. This makes it a poor store of value, unlike Adirizes ADI, which will remain stable despite market movements. On the other hand, this makes it a good store of value and will encourage investors to hold the bulk of their crypto assets in ADI.

Ripple is an open-source blockchain-based payment platform. It is used for international transfers and to exchange fiat currencies. Ripple uses Federated Consensus to add new blocks to the blockchain. In this method, all participants are known to each other. A new block is added when all validators agree.

Ripple completes a transaction in less than five seconds, whereas using normal channels to transfer funds takes a few hours to a few days. Ripples native token is XRP.

The Federated Consensus model that Ripple uses to create new blocks does not make staking possible. But, on the other hand, you earn substantial rewards when you stake ADI. This makes ADI more attractive to investors looking to earn with their crypto assets.

Furthermore, while the community governs Adirize, decision-making in Ripple is centralized.

Finally, Adirize has developed a token that will be the reference point in the crypto space. ADI will make it practically possible to pay for goods and services with cryptocurrency. Moreover, people will be confident using the token because they are sure its purchasing power will remain the same.

Presale: http://join.adirize.com/Website: http://adirize.com/Telegram: https://t.me/AdirizeDAO_Official

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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Discover Why Adirize May Make Millions And Is The Cryptocurrency You Should Purchase Even Ahead Of Solana Or - Bitcoinist

Cryptocurrency Ethereum Classic Decreases More Than 15% Within 24 hours – Benzinga

Ethereum Classic's ETC/USD price has decreased 15.22% over the past 24 hours to $35.07, continuing its downward trend over the past week of -17.0%, moving from $42.27 to its current price.

The chart below compares the price movement and volatility for Ethereum Classic over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has fallen 28.0% over the past week which is opposite, directionally, with the overall circulating supply of the coin, which has increased 0.16%. This brings the circulating supply to 136.43 million, which makes up an estimated 64.75% of its max supply of 210.70 million. According to our data, the current market cap ranking for ETC is #21 at $4.78 billion.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Cryptocurrency Ethereum Classic Decreases More Than 15% Within 24 hours - Benzinga

Artificial intelligence was supposed to transform health care. It hasn’t. – POLITICO

Companies come in promising the world and often dont deliver, said Bob Wachter, head of the department of medicine at the University of California, San Francisco. When I look for examples of true AI and machine learning thats really making a difference, theyre pretty few and far between. Its pretty underwhelming.

Administrators say algorithms the software that processes data from outside companies dont always work as advertised because each health system has its own technological framework. So hospitals are building out engineering teams and developing artificial intelligence and other technology tailored to their own needs.

But its slow going. Research based on job postings shows health care behind every industry except construction in adopting AI.

The Food and Drug Administration has taken steps to develop a model for evaluating AI, but it is still in its early days. There are questions about how regulators can monitor algorithms as they evolve and rein in the technologys detrimental aspects, such as bias that threaten to exacerbate health care inequities.

Sometimes theres an assumption that AI is working, and its just a matter of adopting it, which is not necessarily true, said Florenta Teodoridis, a professor at the University of Southern Californias business school whose research focuses on AI. She added that being unable to understand why an algorithm came to a certain result is fine for things like predicting the weather. But in health care, its impact is potentially life-changing.

Despite the obstacles, the tech industry is still enthusiastic about AIs potential to transform health care.

The transition is slightly slower than I hoped but well on track for AI to be better than most radiologists at interpreting many different types of medical images by 2026, Hinton told POLITICO via email. He said he never suggested that we should get rid of radiologists, but that we should let AI read scans for them.

If hes right, artificial intelligence will start taking on more of the rote tasks in medicine, giving doctors more time to spend with patients to reach the right diagnosis or develop a comprehensive treatment plan.

I see us moving as a medical community to a better understanding of what it can and cannot do, said Lara Jehi, chief research information officer for the Cleveland Clinic. It is not going to replace radiologists, and it shouldnt replace radiologists.

Radiology is one of the most promising use cases for AI. The Mayo Clinic has a clinical trial evaluating an algorithm that aims to reduce the hours-long process oncologists and physicists undertake to map out a surgical plan for removing complicated head and neck tumors.

An algorithm can do the job in an hour, said John D. Halamka, president of Mayo Clinic Platform: Weve taken 80 percent of the human effort out of it. The technology gives doctors a blueprint they can review and tweak without having to do the basic physics themselves, he said.

NYU Langone Health has also experimented with using AI in radiology. The health system has collaborated with Facebooks Artificial Intelligence Research group to reduce the time it takes to get an MRI from one hour to 15 minutes. Daniel Sodickson, a radiological imaging expert at NYU Langone who worked on the research, sees opportunity in AIs ability to downsize the amount of data doctors need to review.

When I look for examples of true AI and machine learning thats really making a difference, theyre pretty few and far between. Its pretty underwhelming.

Bob Wachter, head of the department of medicine at the University of California, San Francisco

Covid has accelerated AIs development. Throughout the pandemic, health providers and researchers shared data on the disease and anonymized patient data to crowdsource treatments.

Microsoft and Adaptive Biotechnologies, which partner on machine learning to better understand the immune system, put their technology to work on patient data to see how the virus affected the immune system.

The amount of knowledge thats been obtained and the amount of progress has just been really exciting, said Peter Lee, corporate vice president of research and incubations at Microsoft.

There are other success stories. For example, Ochsner Health in Louisiana built an AI model for detecting early signs of sepsis, a life-threatening response to infection. To convince nurses to adopt it, the health system created a response team to monitor the technology for alerts and take action when needed.

Im calling it our care traffic control, said Denise Basow, chief digital officer at Ochsner Health. Since implementation, she said, death from sepsis is declining.

The biggest barrier to the use of artificial intelligence in health care has to do with infrastructure.

Health systems need to enable algorithms to access patient data. Over the last several years, large, well-funded systems have invested in moving their data into the cloud, creating vast data lakes ready to be consumed by artificial intelligence. But thats not as easy for smaller players.

Another problem is that every health system is unique in its technology and the way it treats patients. That means an algorithm may not work as well everywhere.

Over the last year, an independent study on a widely used sepsis detection algorithm from EHR giant Epic showed poor results in real-world settings, suggesting where and how hospitals used the AI mattered.

This quandary has led top health systems to build out their own engineering teams and develop AI in-house.

That could create complications down the road. Unless health systems sell their technology, its unlikely to undergo the type of vetting that commercial software would. That could allow flaws to go unfixed for longer than they might otherwise. Its not just that the health systems are implementing AI while no ones looking. Its also that the stakeholders in artificial intelligence, in health care, technology and government, havent agreed upon standards.

A lack of quality data which gives algorithms material to work with is another significant barrier in rolling out the technology in health care settings.

Over the last several years, large, well-funded systems have invested in moving their data into the cloud, creating vast data lakes ready to be consumed by artificial intelligence.|Elaine Thompson/AP Photo

Much data comes from electronic health records but is often siloed among health care systems, making it more difficult to gather sizable data sets. For example, a hospital may have complete data on one visit, but the rest of a patients medical history is kept elsewhere, making it harder to draw inferences about how to proceed in caring for the patient.

We have pieces and parts, but not the whole, said Aneesh Chopra, who served as the governments chief technology officer under former President Barack Obama and is now president of data company CareJourney.

While some health systems have invested in pulling data from a variety of sources into a single repository, not all hospitals have the resources to do that.

Health care also has strong privacy protections that limit the amount and type of data tech companies can collect, leaving the sector behind others in terms of algorithmic horsepower.

Importantly, not enough strong data on health outcomes is available, making it more difficult for providers to use AI to improve how they treat patients.

That may be changing. A recent series of studies on a sepsis algorithm included copious details on how to use the technology in practice and documented physician adoption rates. Experts have hailed the studies as a good template for how future AI studies should be conducted.

But working with health care data is also more difficult than in other sectors because it is highly individualized.

We found that even internally across our different locations and sites, these models dont have a uniform performance, said Jehi of the Cleveland Clinic.

And the stakes are high if things go wrong. The number of paths that patients can take are very different than the number of paths that I can take when Im on Amazon trying to order a product, Wachter said.

Health experts also worry that algorithms could amplify bias and health care disparities.

For example, a 2019 study found that a hospital algorithm more often pushed white patients toward programs aiming to provide better care than Black patients, even while controlling for the level of sickness.

Last year, the FDA published a set of guidelines for using AI as a medical device, calling for the establishment of good machine learning practices, oversight of how algorithms behave in real-world scenarios and development of research methods for rooting out bias.

The agency subsequently published more specific guidelines on machine learning in radiological devices, requiring companies to outline how the technology is supposed to perform and provide evidence that it works as intended. The FDA has cleared more than 300 AI-enabled devices, largely in radiology, since 1997.

Regulating algorithms is a challenge, particularly given how quickly the technology advances. The FDA is attempting to head that off by requiring companies to institute real-time monitoring and submit plans on future changes.

But in-house AI isnt subject to FDA oversight. Bakul Patel, former head of the FDAs Center for Devices and Radiological Health and now Googles senior director for global digital health strategy and regulatory affairs, said that the FDA is thinking about how it might regulate noncommercial artificial intelligence inside of health systems, but he adds, theres no easy answer.

FDA has to thread the needle between taking enough action to mitigate flaws in algorithms while also not stifling AIs potential, he said.

Some argue that public-private standards for AI would help advance the technology. Groups, including the Coalition for Health AI, whose members include major health systems and universities as well as Google and Microsoft, are working on this approach.

But the standards they envision would be voluntary, which could blunt their impact if not widely adopted.

Link:
Artificial intelligence was supposed to transform health care. It hasn't. - POLITICO

Artificial intelligence and the super app – McKinsey

QuantumBlack, AI by McKinsey recently sat down with Selim Turki, head of data and AI at Uber-owned mobility company Careem, to discuss the latest trends in advanced analytics and artificial intelligence. Far from a dry discussion of theory, the conversation coalesced around several fascinating use cases in which Careem is using AI to make a difference in peoples lives. We discussed how AI is being leveraged to improve customer and driver security through targeted facial-recognition checks to ensure drivers (captains) are who they say they are. We also discussed how AI is being used to provide customers with the most accurate and up-to-date estimated times of arrival (ETAs) by factoring in a host of conditions, including local weather conditions, prayer times, and even iftar times during Ramadan. Along the way, we discussed what it means to be an AI first company and the outlook for AI techand talentin the region.

QuantumBlack: Was AI always an important part of Careems growth journey? How has AIs role evolved since Careems inception?

Selim Turki: We started our journey as a ride-hailing company booking journeys for corporate clients. We were initially booking cars manually, without a data server, before introducing more advanced systems to deliver more efficient, personalized experiences. Since day one, our mission has been to simplify and improve the lives of peopleparticularly our customers and captains. We quickly understood that maintaining high reliability for our dynamic marketplace 24/7 was a complex process that needed to be driven by instant decision making through continuous automation at scale.

We began processing real-time data, using algorithms and machine learning [ML] models to solve some of the core issues for our ride-hailing marketplace, including matching customers and captains efficiently, shaping our demand and supply via surge pricing, calculating accurate ETAs for our captains, and improving our maps and location search functionality.

Today, we are scaling the Middle East, North Africa, and Pakistan [MENAP] regions first super app. AI is in our DNA as we invest more in platform capabilities and team skill sets. Our hiring strategy is focused on growing a diverse team of data and machine learning scientists to build out our in-house experimentation and machine learning platforms.

QuantumBlack: Has the adoption of these new AI techniques changed the way Careem works to serve its customers? How has this affected business teams within the organization?

Selim Turki: We use several AI techniques depending on the type of service we offer in our super app. All of these techniques are directed at three particular needs:

We use AI to factor in prayer times, iftar time during Ramadan, and weather conditions to better predict the ETA accuracy of when the food will be delivered to our customers.

QuantumBlack: How many AI practitioners work with Careem today?

Selim Turki: We have dozens of AI and machine learning experts who are driving forward our strategy of being an AI-first company. Part of our plan is to educate the entire organization on the topic, inviting our engineers and business counterparts to use AI to solve some of their challenges. We have also designed a program dedicated to new college graduates to ensure future talent is up to date with the latest AI techniques and to encourage them to further develop their skills.

QuantumBlack: How do you integrate AI into your decision making now? How do you stay ahead of competition in the market?

Selim Turki: AI is part of Careems decision-making framework. We set quarterly goals to measure and assess the usage and impact of our ML models on the different business streams.

We use rigorous statistical methodologies, taking confounding effects into account, to accurately estimate the models impact on different areas of the business.

To help our data and AI teams stay on top of the changes happening in the industry, we have started collaborating with regional academic institutions to solve some of the most significant super-app challenges and to identify exciting new opportunities for AI innovation.

We publish our progress on the Careem engineering blog and invite third parties to collaborate with us on specific areas related to AI.

We also contribute to open-source data communities and offer our work to other AI and ML professionals.

QuantumBlack: Can you share a recent instance of how AI fundamentally changed the way Careem does business with its customers or captains?

Selim Turki: With any digital platform, fraudsters will look for loopholes to exploit, whether through creating fake-identity accounts or exploring ways to hijack open accounts. Our team uses advanced AI techniques focusing on the identity of users to detect and prevent losses stemming from fraud. One system we use, called Crazy Wall, uses a relational graph convolutional network to map different data points of a customers identity. It also identifies characteristics shared across different identities to detect and mass-block fraudulent patterns across customer or captain activities.

QuantumBlack: AI talent has been a key challenge for companies in the region. How have you dealt with the regions structural talent issues?

Selim Turki: The regions tech talent is growing rapidly, and its exciting to see more specialists choosing to come to the region to make an impact in some of the fastest-growing countries in the world. Its also exciting to see a growing number of local university graduates specializing in AI. Were fortunate to have attracted a strong community of AI talent both locally and from surrounding markets to Careem. Our teams are building tech across various areas, including e-commerce, technology-enabled logistics, maps, identity, and fintech. They can solve complex and meaningful challenges at scale thanks to Careems deep tech expertise, strong regulatory relationships, local presence, and increasingly specialized global teams that are structured to operate as autonomous start-ups. Our team of more than 400 engineers and developers are empowered to develop cutting-edge technology every day. Being a remote-first company allows us to attract talent from across the world who want to have an impact on the MENAP region. This means that the opportunities to gain new perspectives and solve complex, real-world challenges alongside talented peers are endless.

QuantumBlack: Do you think the talent-supply challenges are here to stay? What is your ambition for attracting cutting-edge AI practitioners to Careem in the next three to five years?

Selim Turki: As AI becomes more widely used across industries, the demand for specialists will continue to rise. We need to inspire the next generation of data and AI specialists to be curious and gain exposure to the workplace at an earlier age.

At Careem, we are focused on building an AI culture where opportunities to learn and thrive are fostered by adapting, mentoring, and sharing within our AI communities and beyond. We are also hoping to make AI more accessible to stakeholders across Careem with initiatives like no-code AI, where AI is accessible without existing coding skill sets, as well as partnerships with AI labs to democratize AI usage across the company.

QuantumBlack: How will AI specifically change the mobility space in MENAP? Are there any white spaces where MENAP companies could be global first movers?

Selim Turki: The global mobility space is at a very nascent phase, with considerable opportunities to solve using AI techniques. At Careem, we have the vision of creating an internet-like network to transport packages of atoms, like how the internet transports packets of bits, called the AtomNet.

The AtomNet provides an open-network platform that connects, manages, and routes multimode autonomous vehicles [AVs] to make transport ubiquitous. Similar to how packets can travel across multiple modalities of transport (Wi-Fi, DSL, cable, and fiber), packages on the AtomNet can travel in autonomous motorcycles, cars, vans, trucks, ships, drones, and airplanes. We foresee an AtomNet industry ecosystem with open package headers and protocols to allow package switching and efficient package mobility. With open protocols, coordination costs will drop significantly, and local, national, and international transport gaps will narrow over the years.

AtomNet will support Careems quick commerce, fulfillment centers, restaurants, groceries, dark stores, transportation, and cross-border commerce. We see the epicenter of AtomNet starting in the UAE due to its progressive regulation and culture of innovation.

QuantumBlack: AI is still in its nascency in the broader context of this region. How do you think this will change in the next five to ten years?

Selim Turki: A long and exciting journey is ahead of us in the wider Middle East. With the growing pace of technology, more and more regional corporations will use AI to enhance their products and offer a better experience to customers.

At Careem, our primary focus will continue to be building the internet platform of the Middle East to provide access to our servicesusing data and AI as a core to simplify and improve customers lives. The meta goal is to delight all our users and personalize their experience through data and AI in every service offered through our super app.

The current trend of making trade-offs by improving AI prediction will be strengthened at the cost of short-term factors such as ingestion costs, customer experience, and operational excellence. We will continue investing in our data streams to help our models learn, build, and manage algorithms at scale. Moreover, real-time feedback loops will continue to decipher customer behavior and how it evolves by using our services through leveraging more intelligent software and hardware. Some of the emerging machine learning models will be tailored more to our region, considering language, customer behavior, and product relevance.

Our goal is to provide the simplest and best possible customer experience. To make things simple, you have to make them intuitive. To make things intuitively simple, we need to:

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Artificial intelligence and the super app - McKinsey

Is the future of artificial intelligence internet-free? These researchers hope so – WQAD Moline

Today, AI learning requires a connection to a remote server to perform heavy computing calculations. These researchers say changing that could transform health care.

ORLANDO, Fla. Our computers, devices, smart watches, video monitoring systems, etc...- we rely on connectivity to the internet and dont think twice about it. Now, scientists are developing technology for artificial intelligence that will allow it to work even in remote areas.

Self-driving cars, drone helicopters and medical monitoring equipment; its all cutting-edge technology that requires connection to the cloud. Now, researchers at the University of Central Florida are developing devices that wont rely on an internet connection.

What we are trying to do is make small devices, which will mimic the neurons and synapses of the brain, researcher at the University of Central Florida, Tania Roy, PhD, explains.

Right now, artificial intelligence learning requires a connection to a remote server to perform heavy computing calculations. Scientists are making the AI circuits microscopically small.

Roy emphasizes, Each device that we have is the size of 1/100th of a human hair.

The AI can fit on a small microchip less than an inch wide eliminating the need for an internet connection, meaning life-saving devices could work in remote areas. For example, helping emergency responders find missing hikers.

We would send a drone which has a camera eye, and it can just go and locate those people and rescue them, Roy says.

The scientists say with no need for an internet connection, the AI would also work in space, where no AI technology has gone before.

The same UCF team is expanding on their work with artificial brain devices, and they are developing artificial intelligence that mimics the retina in the human eye, meaning someday, AI could instantly recognize the images in front of it. The researchers say this technology is about five years away from commercial use.

If this story has impacted your life or prompted you or someone you know to seek or change treatments, please let us know by contacting Shelby Kluver at shelby.kluver@wqad.com or Marjorie Bekaert Thomas at mthomas@ivanhoe.com.

Watch more 'Your Health' segments on News 8's YouTube channel

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Is the future of artificial intelligence internet-free? These researchers hope so - WQAD Moline