Archive for the ‘finance’ category

Sep 13, 2017

Robots finds a welcome reception among China’s finance and tax services

Posted by in categories: business, finance, robotics/AI

In addition to Deloitte, the other remaining big-four accounting firms – including EY, KPMG and PwC – have introduced the technology-driven services in China to businesses ranging from banking, technology, and consumer services.

Mainland based accountants are embracing automation to lower office administration costs and enhance efficiency, moves which are opening the door to a wider embrace of artificial intelligence (AI).

Delixi Electric, a manufacturer of low-voltage electrical products, is banking on robotics to trim time needed for tax invoice issuance by 75 per cent. The Zhejiang province-based company needs to issue more than 5,000 value-added-tax invoices to more than 600 clients nationwide monthly.

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Sep 11, 2017

The Future of Machine Learning in a Connected World

Posted by in categories: finance, robotics/AI

Ariadna Font Llitjós of IBM Emerging Technology, Director of Emerging Technology Experiences at IBM Experiences, moderated the MIT Venture Capital + Innovation Conference at the MIT Sloan School of Management on June 2017. The main question of this panel was “What do Machine Learning and Artificial Intelligence mean for our future?”

Experts * S. Somasegar of Madrona Venture Group * Karl Iagnemma of NuTonomy, CEO of Nutonomy and Principal Research Scientist at MIT * Gareth Keane of Qualcomm Ventures * Saikat Dey of GuardHat, Co-Founder of GuardHat.

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Sep 4, 2017

BRICS countries considering own cryptocurrency as settlement mechanism

Posted by in categories: cryptocurrencies, economics, finance

The BRICS Finance Committee is discussing a joint virtual currency for the five nation bloc of developing economies, according to the Russian Direct Investment Fund (RDIF) chief Kirill Dmitriev.

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Sep 4, 2017

Forget Wall Street – Silicon Valley is the new political power in Washington

Posted by in category: finance

It used to be banks, but now it is tech giants that dominate the US lobbying industry. Can money buy them what they want: less competition, less tax … and more data?

By in San Francisco and in Washington

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Sep 1, 2017

Six global banks join forces to create digital currency

Posted by in categories: bitcoin, finance

Hyder Jaffrey, head of strategic funding and fintech innovation at UBS, stated: “We have been in discussions with central banks and regulators and we will continue that over the next 12 months with the aim of a limited ‘go live’ at the back end of 2018.”

‘Utility settlement coin’ aims to launch next year for blockchain settlements.

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Aug 26, 2017

It’s possible that we can build a society where people don’t have to work – here’s how

Posted by in categories: economics, employment, finance, sustainability

Work isn’t working anymore. Labour productivity has fallen in the UK since the financial crisis; 13.5 million people are living in low-income households; real wages are falling and the Gini coefficient, which measures inequality, is rising.

The sustainability and quality of jobs in our economy is also decreasing – 7.1 million workers now face precarious working conditions, meaning that uncertainty (and for many, anxiety) itself is now built into our employment system. According to some estimates, 30 per cent of UK jobs could potentially be automated away by the early 2030s. Depending on the sector, this will mean a remarkable reduction of required hours of human labour. With less work to go around, we will find ourselves in heightened competition with machines and each other, ever more desperate for stability.

Is this our only future? No. But in order to change it and move beyond this crisis, we first need to confront our very conception of work. For a long time we have thought of work as a matter of individual choice – a free, private agreement between a single person and an employer. You, the thinking goes, are free to pick whatever job you like as long as the employer is happy to have you on board and there are a sufficient number of jobs created by the free market.

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Aug 24, 2017

Government Warns North Korean Cyber Attacks Continue

Posted by in categories: cybercrime/malcode, finance, government

The Department of Homeland Security and FBI issued a new warning on Wednesday that North Korean government hackers are continuing to target critical U.S. infrastructure for cyber attacks.

A technical report by DHS’ National Cyber Awareness System reveals details of the tools and cyber methods being used by North Korean government hackers.

The alert said the North Korean government is using the cyber tools to “target the media, aerospace, financial, and critical infrastructure sectors in the United States and globally.”

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Aug 23, 2017

Amat Farm

Posted by in categories: finance, particle physics, solar power, space, sustainability

Amat farms (antimatter farms) consist of large banks of solar power collectors which power multicolliders optimally designed to produce antiparticles. The vast showers of collision products which result are sorted magnetically; antimatter particles and other useful species are collected, cooled and held in electric/magnetic traps.

The first amat farms were established in 332 orbiting Sol just outside the orbit of Mercury, known collectively as the Circumsol ring. Several power corporations were involved in this effort, including the Look Outwards Combine, Jerusalem Macrotech and General Dynamics Corporation. In 524 the Jerusalem Macrotech station B4 was destroyed during an unsuccessful raid by Space Cowboys.

Amat fields designed to produce anti-protons are typically 100km or more in diameter; fields which produce positrons are considerably smaller. The antiprotons and positrons are usually combined into anti-hydrogen and frozen for easier storage.

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Aug 21, 2017

Paul Tudor Jones Wants to Crowdsource “Good” Companies — By Imogen Rose-Smith | Institutional Investor

Posted by in categories: business, economics, ethics, finance

” … Paul Tudor Jones co-founded JUST Capital to fix the ills of corporate capitalism by identifying the most just or “good” companies. Will it work?”

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Aug 21, 2017

Blockchain and the Power of Singularity

Posted by in categories: bitcoin, business, finance, internet, life extension, policy, singularity

Set on Sir Richard Branson’s Necker Island, the third annual Blockchain Summit, hosted by BitFury, a leading full service Blockchain company, and Bill Tai, a venture investor and technologist, has come to a close. This event was an intimate, if perfectly balanced, gathering of technology, policy, investment and business leaders from around the world and across sectors. Topics ranged from the public policy implications of what is being heralded as a foundational technology, to new emerging business models that can ride on the very rails that enabled the global bonanza of digital currencies like Bitcoin. A key question that underpinned the Summit is if Blockchain could not have existed without the Internet, what could not exist without Blockchain?

Blockchain technology can undoubtedly change industries, especially those that labor under often byzantine, opaque and friction-laden business models. While many of the early pioneers are focusing on finance and insurance, the opportunities for this radical technology may very well reorder society as we know it. The remarkable case of Estonia, for example, shows a country reinventing itself into a future-proof digital state, where citizen services are rendered nearly instantaneously and to people all over the world. Similarly, promising work inspired by the famed Peruvian economist, Hernando de Soto, on improving land registries is being carried out by BitFury in a host of countries. With land and property being the two largest assets people will own — and the principal vehicle of value creation and wealth transfer — an unalterable, secure and transparent registration process should give the world comfort and elected leaders longevity.

What drives this unique technology is the power of distributed singularity, from which Blockchain’s identity pioneers like Dr. Mariana Dahan, who launched the World Identity Network on Necker Island, and Vinny Lingham of Civic, draw their inspiration. Blockchain operates on the basis of a distributed ledger (or database) system, inexorably marching forward recording and time-stamping transactions or records. While some may herald Bitcoin as Blockchain’s “killer app,” it is easy to maintain that the killer app is not the digital currencies that ride on Blockchain’s rails, but rather the rail system altogether. Two trains can ride on rails. But a high-speed maglev train is a decidedly faster mode of transport than a steam engine. Just as the maglev makes little or no contact with the rails enabling low-friction transport, the Blockchain can greatly reduce the friction in how the world transfers and records value.

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