WeChat Disables over 10 NFT related accounts over Crypto Speculation

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April 5, 2022

Over ten WeChat public accounts involved in the non-fungible token (NFT) trading have been disabled by Tencent’s WeChat platform, the majority of which are small and medium-sized NFT exchanges. WeChat stated that it has received complaints alleging that these accounts lacked the necessary regulatory approvals to trade NFTs and digital artifacts.

Some of the banned accounts include Art Meta Yuanyishu, Yidianshuzang, Spirit Leap, Huasheng Meta, One Meta, Earth Zero, Guizang Metaverse Yuanben Space, Shenda Shuzang, iBox, and Nuofangti. Existing customers were greeted with a statement that read, “This account has no legal permit or license to publish, disseminate, or engage in related business activities.” Meanwhile, the app’s head platforms, such as Tencent Magic Core, are unaffected, fuelling the suspicion that WeChat was after small and medium scale exchanges.

WeChat had also requested evidence of licensing from a few other digital collection sites by April 1 or face shut down. According to experts, the measure does not foreshadow a regulatory shift in China’s NFT business, which is expanding but has some unsolved problems.

Unlike cryptocurrency trade and mining, which are prohibited in China, it has yet to create clear laws on NFT trading. However, because there has been an increase in speculation and incidents of fraud, Tencent’s decision might suggest increased monitoring at the corporate level. Apart from banning cryptocurrency, the Chinese government has outright prohibited initial coin offerings (ICOs) and block reward mining. The administration justified the restriction by citing high power usage and increasing pollution levels. This leaves Chinese NFT enthusiasts with their national currency yuan as a means of purchasing digital collectibles. These NFTs are also not based on a distributed ledger like Ethereum but created on other blockchains that were missed by regulators. In addition, the government also imposes some limits on the blockchain networks on which NFTs can be issued, favoring those over which it has had a significant influence in the development.

The Tencent-owned messaging platform has 1.2 billion users, making it the largest in China and one of the largest in the world. WeChat, on the other hand, has been wary of NFTs, which have taken the globe by storm, with the embryonic industry reaching $41 billion last year, almost equal to the market for fine art. As per Chinese cryptocurrency journalist Colin Wu, WeChat demands that such accounts can only display and support the initial sale of digital collectibles and barred secondary transactions. Operators must also provide proof of cooperation with a blockchain company authorized by the Cyberspace Administration of China. It is reported that WeChat has been censoring NFT operators since late February when it terminated the mini-program of TheOne.art, a local digital collectible platform that has subsequently reopened.

Many local social media platforms and online organizations have continued to amend their rules in order to restrict and, in some cases, eliminate NFT platforms entirely from their networks, dreading a government crackdown on their day-to-day operations. For example, Ant Group’s WhaleTalk NFT platform modified its rules to enhance the penalty for selling digital collectibles through an over-the-counter (OTC) desk.

On the brighter side of things, Weibo, the Chinese social media behemoth, announced the debut of TopHolder, its NFT marketplace, last week. In October, McDonald’s had released a set of 188 NFTs to commemorate the company’s 31st anniversary in China. These incidents illustrate that China’s standing on NFTs is quite vague and many are profiting from the loopholes and current lack of strict regulation.

EU Parliament Passes Privacy-Busting Crypto Rules

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Dipayan Mitra

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April 4, 2022

European Union (EU) parliament passes new privacy-busting crypto rules amid severe criticism from the community.

On Thursday, legislators in the European Union voted in favor of a de facto monitoring regime for Bitcoin and cryptocurrency transactions.

The recommendations aim to expand anti-money laundering (AML) laws to the crypto sector, which now apply to traditional payments exceeding $1,114.

This step has been taken as the region tries to collect identifying information on transfers between private, self-custody wallets. The crypto community is, however, criticizing this development, mentioning it to be a move that would restrict innovation and invade privacy.

Many of the controversial amendments were rejected by members of the center-right European People’s Party (EPP), who denounced what they called a “de facto ban of self-hosted wallets.”

Before the vote, Brian Armstrong, the co-founder and CEO of Coinbase, expressed his concern with the new restrictions, calling them “anti-innovation, anti-privacy, and anti-law enforcement.”

1/ On 31 March, the EU Parliament will vote on its proposal for a new crypto surveillance regime. The proposal is anti-innovation, anti-privacy, and anti-law enforcement. Make your voice heard and contact your member here: https://t.co/b3Ll3xXiW4
— Brian Armstrong – barmstrong.eth (@brian_armstrong) March 30, 2022

“This means before you can send or receive crypto from a self-hosted wallet, Coinbase will be required to collect, store, and verify information on the other party, which is not our customer, before the transfer is allowed,” added Armstrong regarding the new regulations.

According to the proposal, even the smallest crypto transactions would require the identification of payers and recipients, including transactions with self-hosted wallets.

Earlier last year, national governments announced that they planned to eliminate the EUR 1,000 cryptocurrency threshold, citing the ease with which digital payments can circumvent it, along with including private wallets not run by regulated crypto asset providers.

Microsoft Acquires Process Autonomation company Minit

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Dipayan Mitra

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April 4, 2022

Global technology giant Microsoft announces that it has acquired process automation company Minit in a recent deal. However, no information was provided by either of the companies regarding the valuation of this acquisition deal.

According to Microsoft, the new acquisition will allow it to further its digital transformation strategies with automated insights from operational data and increase mining capabilities.

Efficient operations and ensuring that every component of any business process operates seamlessly are vital, yet most executives are unable to comprehend the true performance of their processes and must rely on subjective information to make choices.

Minit’s prime motive is to solve the mentioned challenge by transforming the way companies analyze, monitor, and optimize their processes.

Microsoft mentioned, “This acquisition will further empower Microsoft to help our customers digitally transform and drive operational excellence by creating a complete picture of their business processes, enabling every process to be easily and automatically analyzed and improved.”

The blog further added that customers would be able to gain a deeper understanding of their process data, discover how operations work, and drive process standardization and improvement throughout the whole business to ensure compliance at every stage.

Slovakia-based mining technology providing company Minit was founded by Rasto Hlavac in 2014. The firm specializes in providing solutions that lead businesses to transform the way they analyze, monitor, and optimize their processes, helping them uncover opportunities for continuous process improvement and higher operational efficiency.

Minit’s highly competent solution offers multiple features, including AI-powered Root-Cause Analysis, Process Simulation, Hierarchical Process Mining, Business Rules, Custom Metrics, Rework Detector, Process Compare, etc. To date, the company has raised €10.3 million from multiple investors such as Salesforce Ventures, Target Global, Earlybird Venture Capital, and others over two funding rounds.

CEO of Minit, James Dening, said, “We are looking forward to what it means to become part of an industry leader like Microsoft and what that brings us – how we can use that scale and excellence to continue to deliver great solutions to our customers.”

Kozhikode to have AI-powered CCTV Camera Network

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Dipayan Mitra

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April 4, 2022

Kozhikode, a city in Kerala, is soon to be brought under an artificial intelligence (AI)-powered CCTV camera network, say, officials.

This new development will considerably help authorities charge traffic rule violators with a reliable digital proof.

According to the plan, Kozhikode will soon have nearly 60 artificial intelligence-enabled CCTV cameras to identify traffic rule breaches and impose fines without regard for the consequences.

The installation and subsequent maintenance of the equipment will be completed by the Kerala State Electronics Development Corporation (KELTRON). The project is being implemented in the city as part of a state-level road safety effort that is currently in its initial phase and will span metro cities.

Earlier, Chief Minister Pinarayi Vijayan launched the ‘Safe Kerala’ project to ensure safe traffic on the state’s roads. As a part of the project, the first batch of 100 AI-aided surveillance cameras got launched last year.

Motor Vehicle Department Inspector said, “Even minor offenses can be tracked with precision using AI-based cameras. Reluctance to wear seat belts, alteration of vehicles, unauthorized fittings, and reckless driving can be traced very easily even from distant locations.”

He further added that in the future, 24×7 checking would be a reality with no human interference. It is expected that the Kerala government will spend over Rs 225 crores to execute this state-level mega-project over the coming years.

Officials say that the cameras will become operational in the upcoming months. The police department of Kozhikode has already set up high-tech cameras with automated number plate recognition (ANPR) capabilities to help in ensuring adherence to traffic norms.

Recently, Kerala Police also announced that the department would receive training in artificial intelligence and data analytics to enter the next generation of police. The training program was launched at the Digital University Kerala campus located in Pallippuram.

Mayflower Autonomous Ship will attempt a Second Ocean Crossing with AI Captain

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Dipayan Mitra

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April 4, 2022

The Mayflower Autonomous Ship is now ready for its second attempt to cross the Atlantic Ocean from Plymouth, United Kingdom, to Plymouth, Massachusetts, without the assistance of an onboard human.

The one-of-a-king autonomous ship has been integrated with IBM’s AI Captain, the operation’s digital brain that allows the Mayflower to design its own course across the ocean.

The artificial intelligence-powered captain can accurately see and avoid obstacles to ensure the safety of the autonomous ship while it sails.

Mayflower is equipped with vision sensors, infrared cameras, and a navigation system that lets it use dead reckoning in the event of a satellite failure. ProMare, a nonprofit dedicated to marine research, is leading the project, with IBM serving as the project’s principal technological and scientific partner.

Officials claim that the 3,200-mile journey between Plymouth and Plymouth is projected to take 10 to 12 days, depending on weather and other factors. The autonomous boat began its journey last year but was forced to return after a connector for the onboard generator failed, causing exhaust fumes to flood the inside. However, as there were no humans inside the boat, no one was injured in the mishap, which led to the ship’s return.

Vice President for Defense and Intelligence at IBM Federal, Ray Spicer, said, “In a perfect world, we’re gonna set this baby on its way from Plymouth, U.K., and not have to interfere at all. We’ll just watch it with pride as it sails along and makes its own decisions based on how well we trained it. And then it appears in Plymouth, Massachusetts, at the end of the journey.”

He further added that the autonomous and artificial intelligence tech in Mayflower sets it apart from other unmanned surface vessels. According to IBM, the AI Captain’s high-end algorithm was trained using millions of photos to spot possible risks such as seagulls, paddleboarders, and buoys.

DeepBrain AI presents a time-reducing, lip-sync video synthesis technology

By

Osheen Jain

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April 4, 2022

DeepBrain AI presents lip-sync video synthesis technology

At the NVIDIA GTC 2022, DeepBrain AI’s Chief Technology Officer (CTO), Kyung-Soo Chae, presented under “Toward Real-Time Audiovisual Conversation with Artificial Humans.” DeepBrain AI’s lip-sync video synthesis technology introduced during the event enables real-time video and voice-based communication between AI and humans.

The NVIDIA GTC, a global technology conference held as an online live session from March 21 to 24, was attended by companies worldwide. These companies participated in over 500 live sessions, including data science, high-performance computing, deep learning artificial intelligence, and robotics technology, to showcase their recent technological advancement and discuss related agendas with participants.

This new technology introduced by DeepBrain AI can generate high-resolution lip-sync videos at 4x speed of time through its own artificial neural network structure design. The company also announced research results that reduced synthesis time to 1/3 by applying NVIDIA’s deep learning inference optimization SDK.

DeepBrain AI also participated in a panel discussion session on “Digital Human and Convergent AI” to announce AI human technology and specific business status. Real-time questions and answers followed the session, and the company introduced DeepBrain AI’s technology use cases and future business plans.

DeepBrain AI CTO Kyung-Soo Chae said, “The area that takes the most time and money to implement AI humans is video and voice synthesis. DeepBrain AI’s unique technology has announced reducing high-quality video synthesis time in 1/12 of real-time.”

DeepBrain AI is regarded as one of the top three global companies for interactive AI. It used deep learning-based video synthesis and voice synthesis source technologies. They have attracted attention as an AI Human solution that creates a virtual human capable of real-time two-way communication through deep learning AI technology.

Google announces updates for Meet: in-meeting reactions, PiP, security improvements, and more

By

Osheen Jain

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April 3, 2022

Google announced a significant update to Google Meet yesterday, and it includes a vast number of long-requested features. The main additions are in-meeting reactions, emoji-based feedback, and the ability to use Meet right inside of Docs, Sheets, and Slides. Users also get a new picture-in-picture mode to allow multitasking or more easily ignoring a meeting. With the latest update, users can stream a meeting to YouTube.

Another major highlight of the announcement is security improvements. Google will roll client-side encryption in Meet in May, an update that is currently still in beta. With this launch, users will be better able to control their encryption keys. Google will also roll out end-to-end encryption for meetings later this year.

“We know we need solutions that help people build connections that can bridge the gap between physical spaces and somewhere else,” said Dave Citron, Google’s director of product management for Google Meet and Voice.

Dave noted that most of these updates focus on collaboration equity and ensure that users can contribute to meetings regardless of their experience level, role, location devices, and language.

The company will also launch personal video tiles for every participant, even if they are in a conference room with others. This update will help remote employees to have the same experience as those working in a physical space.

However, these new Google Meet features will roll out later this year, and features such as responding with emojis during a meeting will have to wait until next month. Picture and picture will also roll out next month, whereas automatic noise cancellation will roll out for all users.

Boston Dynamics’ Stretch Robot now Available Commercially

By

Dipayan Mitra

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April 3, 2022

Dynamic robots and software developing company Boston Dynamics announces that its new Stretch robot is now available for commercial purchase.

The unique robot is specially designed to perform tasks involved in warehouses and distribution centers. Boston Dynamics claims that the Stretch robot is the world’s most advanced robot in its designated field of operations.

Stretch was first announced in 2021, and the company is now accepting reservations for the same for 2023 and 2024 deliveries.

According to the company, all the units built for 2022 have already been sold, proving this robot’s popularity. Some of the early customers of the Boston Dynamics’ Stretch robot include DHL Supply Chain, Gap, H&M, and Performance Team.

Moreover, Boston Dynamics’ Stretch has recently received a $15 million pre-order from DHL Supply Chain to help automate warehouses in North America.

Stretch is a mobile robot that unloads floor-loaded containers and packages with complex geometries. It has a powerful custom vacuum gripper that can handle up to 50 pounds at a time. Stretch is designed to maneuver in and out of trucks and tight locations in a warehouse, with improved mobility and a footprint the size of a pallet.

An added advantage of Stretch is that it requires no pre-programming of SKU numbers or box sizes as the robot makes all the necessary unloading decisions in real-time without the need for additional human support or supervision.

CEO of Boston Dynamics, Robert Playter, said, “Stretch makes logistics operations more efficient and predictable, and it improves safety by taking on one of the most physically demanding jobs in the warehouse.”

He further added that many of the early adopter customers have already committed to deploying the robot at scale, so they are happy that Stretch will soon be put to work in a larger capacity, assisting shops and logistics organizations in dealing with the ongoing surge in demand for goods.

Docker founder launches Dagger, raises $20M in funding

By

Osheen Jain

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April 3, 2022

Solomon Hykes left Docker four years ago, and today his next startup, Dagger, is launching into public beta and raises $20M Series A funding round. Dagger’s funding round was led by Redpoint Ventures, with participation from Y Combinator, Nat Friedman, Brian Stevens, Idit Levine, Julius Volz, Ellen Pao, and Daniel Lopez. Previously, Dagger raised a $3 million pre-seed and $7 million seed round led by New Wave.

Dagger was co-founded by Hykes and his fellow Docker alums Sam Alba and Andrea Luzzardi. They aim to build a “DevOps operating system.” The team started by listening to people and finding problems they could solve. DevOps quickly came up to be an interesting issue.

The Dagger team argues that there are various effective DevOps tools, but they tend to be very specialized. However, the problem is that developers have to glue these tools together — glue is the bottleneck. So they are focusing on replacing the glue with something better.

Dagger will use the funding to build developer relations and marketing teams and also use funding to expand its engineering team to build its product.

Specifically, Dagger lets DevOps engineers write their pipelines as declarative models in CUE (configure, unify, execute). This platform does not replace CircleCI or GitLabs. Instead, Dagger is a layer on top of existing CI infrastructure and it streamlines supply chain management between infrastructure and deploying software to the cloud.

It will be a hybrid program with an open-source engine that has been launched today and an optional tightly integrated cloud service. The managed cloud service will come later.

Builder.ai raises $100 million in Series C Funding Round

By

Dipayan Mitra

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April 2, 2022

Artificial intelligence company Builder.ai raises $100 million in its recently held funding round led by Insight Partners. Multiple existing and new investors like IFC and Jeffrey Katzenberg’s WndrCo also participated in Builder.ai’s series C funding round.

Builder.ai will use the fresh funds to take steps towards accomplishing its aim of aiding organizations and entrepreneurs in using digital transformation to unleash their creativity and potential.

The company said that it would also utilize the funds to expand its AI and automation capabilities along with accelerating the development of its proprietary low-code/no-code platform.

Co-founder and MD of Insight Partners, Jeff Horing, said, “Builder.ai has spearheaded a new category in the low-code/no-code industry with an innovative business model and clarity of vision, fueling its 300% growth in the last year.”

United Kingdom-based artificial intelligence firm Builder.ai was founded by Sachin Dev Duggal and Saurabh Dhoot in 2016. The company is best known for its AI-powered platform designed to help build and operate software projects.

Without requiring technical experience or any lines of code, the platform and human-assisted AI aid enterprises, small businesses, and entrepreneurs in building, running, and scaling their software.

To date, the company has raised nearly $195 million from multiple investors over three funding rounds. Interested users can visit the official website of Builder.ai to book a free demo of the company’s platform.

Co-founder and Chief Wizard of Builder.ai Sachin Dev Duggal said, “We believe that everyone, every business should be empowered to unlock their human potential, whether it’s creating new ideas or digitally transforming their business, and because of this, our choice of investor for this round was very deliberate.”

He further added that this funding round is for their consumers, for the tinkerers, the folks who never took “no” for an answer, the small firms who said “we shall prevail,” and the entrepreneurs who never blinked.