Archive for the ‘finance’ category

May 5, 2016

Prospector-X™: An International Mission to Test Technologies for Asteroid Mining

Posted by in categories: alien life, finance, government

Deep Space Industries and the Luxembourg Government announce partnership to commercialize space resources.

Asteroid mining company Deep Space Industries, together with the Luxembourg Government and the Société Nationale de Crédit et d’Investissement (SNCI), the national banking institution in Luxembourg, have signed an agreement formalizing their partnership to explore, use, and commercialize space resources as part of Luxembourg’s initiative.

The Luxembourg Government will work with Deep Space Industries to co-fund relevant R&D projects that help further develop the technology needed to mine asteroids and build a supply chain of valuable resources in space.

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Apr 26, 2016

Barclays will be the first bank to employ chatbot in Africa to handle online banking queries

Posted by in categories: finance, robotics/AI

Barclays bots.

As part its efforts to become the most intelligent bank Barclays Africa, a subsidiary Absa, announced on Tuesday that it would pilot a chatbot that relies on artificial intelligence to simulate intelligent conversation through written or spoken text with customers online.

The pilot will be implemented within the coming few weeks, making it the first bank to do so in Africa.

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Apr 26, 2016

Finance actually wants more regulation because of the rise of artificial intelligence fintech in the world’s markets

Posted by in categories: cybercrime/malcode, finance, robotics/AI

I am not surprised by this; I do expect this given the existing cyber threat risks around AI especially around the existing under pinning technology/ platforms and net infrastructures.

The finance world is cautiously optimistic about the future of artificial intelligence and how it can be used, but, there is more work needed on regulating the technology when it comes to world markets.

“Financial institutions have been fined billions of dollars because of illegality and compliance breaches by traders. A logical response by banks is to automate as much decision-making as possible, hence the number of banks enthusiastically embracing AI and automation,” said Baker and McKenzie head of financial services regulation Arun Srivastava.

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Apr 20, 2016

What Does it Mean to “Move to the Cloud”? This eBook Breaks Down the Myths

Posted by in categories: bitcoin, computing, employment, finance, internet, neuroscience, robotics/AI

Again; many problems with AI & IoT all ties back to the infrastructure of things. Focus on fast tracking QC and an interim solution (pre-QC) such as a mix of Nvidia’s GPU, blockchain for financial transactions, etc. to improve the infrastructure and Net then investors will begin to pay more attention to AI, etc.

After more than 60 years since its conceptual inception — and after too many hype-generating moments — AI is yet again making its presence felt in mainstream media.

Following a recent WEF report, many perceive AI as a threat to our jobs, while others even go so far to assert that it poses a real threat to humanity itself.

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Apr 18, 2016

Business At The Speed Of Thought

Posted by in categories: bitcoin, business, climatology, cryptocurrencies, economics, finance

One of the most underrated, overlooked promises of digital money, is the esteemed ideal of sending money as easily as sending email. With the current third party infrastructure of today, this is possible, yet limitations exist on larger transactions. Further, all payments must first go through a series of checkpoints before being approved. Although peer-to-peer money is still in its infancy, direct payments which require no third party and are confirmed near instantaneously are a tantalizing prospect. The increase in the velocity of money which would accompany this type of infrastructure would be accelerate the velocity of money to a point where it is conceivable that business would be conducted at the speed of thought.

New Phase Of Growth

As bitcoin continues to leave its roots as a monetary experiment and enter a new phase of growth, it will facilitate a velocity of money which is frictionless, peer-to-peer, and near instantaneous. Such an increase in the velocity of money which digital cryptocurrencies promise, could be a catalyst for growth in the 21st century as we see developing nations leapfrog traditional banking infrastructure and move directly to a bitcoin-enabled financial paradigm. In this scenario, the bitcoin blockchain would serve as a sort of “cyber bank account” with cryptocurrency technology acting as the engine of growth in stagnant economies which have a record of tenuous currency stability.

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Apr 18, 2016

Lightning Network Could Be Bitcoin’s Scaling Solution

Posted by in categories: bitcoin, business, cryptocurrencies, economics, finance

The days of near-instantaneous payment seem like something of the science fiction genre. Yet, recent undertakings in the bitcoin industry are working on solutions which may allow billions of transactions per second to be made in a model similar to the routing system employed by today’s internet infrastructure. If bitcoin is capable of scaling to billions of transactions per second by using this routing system, transactions could become as seamless as sending an email today.

The Lightning Network

One of the solutions currently in development for scaling the bitcoin network in order to accommodate more transactions is known as the Lighting Network. The Lightning Network proposal holds that millions or even billions of transactions could be made per second by routing payments through the blockchain rather than storing data for each individual change in ownership. With this type of payment infrastructure, parties could send transactions to each other without requiring every movement of money to be recorded in the bitcoin blockchain, potentially reducing the burden of current network payload.

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Apr 16, 2016

How bots will change the Web, according to a bot we built to answer that question

Posted by in categories: 3D printing, business, cybercrime/malcode, finance, internet, robotics/AI, transportation

I am still not convinced that everyone fully understands how bot technology is about to change IoT and its impact to online business industry. Let me share a few ideas: Financial Auditing and accounting. Bots will be able to do a more thorough job in managing, tracking, reporting financials that many finance back office controls can be performed by bots and requiring a sign off by CFO/ Lead Controller. And, Accounting & Audit firms can easily leverage the technology to perform audits on companies remotely without having to send teams of auditors to a client’s site.

Here’s another one; I decide to set up a few 3D printers to make some unique seals for aircraft manufactures for their jets/ planes; and I need a call center plus online sales teams taking and processing orders. With bot technology my whole operation is automated and no need for sales people, call center folks, or operators. All I need is myself and couple of techies to manage the bot operations; and more profit for me and my team.

However, we still have to keep a tight oversight on hacking which is still a risk; however, we should see more micro-size companies spin up as a result of online bots and 3D printers in our immediate future.

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Apr 12, 2016

Long-range secure quantum communication system developed

Posted by in categories: business, encryption, finance, information science, quantum physics, security

Scientists from ITMO University in Saint Petersburg, Russia have enabled the longer distance (250 Kilos) of secured data transmission occur via Quantum. Nice; and should be a wake up call to the US as well on advancing their efforts more.

A group of scientists from ITMO University in Saint Petersburg, Russia has developed a novel approach to the construction of quantum communication systems for secure data exchange. The experimental device based on the results of the research is capable of transmitting single-photon quantum signals across distances of 250 kilometers or more, which is on par with other cutting edge analogues. The research paper was published in the Optics Express journal.

Information security is becoming more and more of a critical issue not only for large companies, banks and defense enterprises, but even for small businesses and individual users. However, the data encryption algorithms we currently use for protecting our data are imperfect — in the long-term, their logic can be cracked. Regardless of how complex and intricate the algorithm is, getting round it is just the matter of time.

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Apr 11, 2016

D-Wave Systems is most disruptive company we’ve ever seen, says Paradigm

Posted by in categories: computing, finance, quantum physics, robotics/AI

D-Wave not only created the standard for Quantum Computing; they are the standard for QC in N. America at least. Granted more competitors will enter the field; however, D-Wave is the commercial competitor with proven technology and credentials that others will have to meet up to or excel past to be a real player in the QC landscape.

Burnaby-based D-Wave, which was founded in 1999 as a spin-off from the physics department of the University of British Columbia has become nothing less than the leading repository of quantum computing intellectual property in the world, says the analyst. He thinks D-Wave’s customers will be positioned to gain massive competitive advantages because they will be able to solve problems that normal computers simply can’t, such those in areas such as DNA sequencing, financial analysis, and artificial intelligence.

“We stand at the precipice of a computing revolution,” says Kim. “Processing power is taking a huge leap forward thanks to ingenious innovations that leverage the counter-intuitive and unique properties of the quantum realm. Quantum mechanics, theorized many decades ago, is finally ready for prime time. Imagine, if we could go back to 1946 and have the same foresight with the ENIAC, the first electronic general-purpose computer. ENIAC’s pioneers created a new industry and opened up unimaginable possibilities. The same opportunity exists today with D-Wave Systems. D-Wave is the world’s first quantum computing company and represents the most unique and disruptive company that we have seen in our career.

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Apr 9, 2016

Japan is considering giving away free money

Posted by in categories: economics, finance, government

The Japanese government is considering giving away money ‘vouchers’ to poor young people to boost consumption, according to reports.

Following the examples of Finland, Canada and the Netherlands, Japan is considering the introduction of basic income, a tax-free income, after recent surveys showed that under-34s in Japan have cut spending by 11.7 per cent year on year.

Proponents of basic income say that not only does it reduce financial poverty but it has a number of other benefits, such as rewarding unpaid activities not recognised as economic contributions (parenting, for instance).

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