Tether had provided loans of US$6.1 billion as of September 30, and the figure at the end of 2021 was US$4.1 billion. Tether says it lends only to eligible customers and requires that borrowers post lots of “extremely liquid” collateral.
The Wall Street Journal
Rising Tether Loans Add Risk to Stablecoin, Crypto World
Tether reports hadn’t disclosed that loans it issues are denominated and payable in the token. The rise in Tether’s lending add risk to the crypto world.
Stanford researchers create synthetic yet realistic chest X-rays using StableDiffusion
SD is typically used for art, not for science. In this case, the “radiographs” might be high quality enough to complement real image datasets.
SD is typically used for art, not for science. In this case, the “radiographs” might be high quality enough to complement real image datasets.
BCG estimates the tokenization of global illiquid assets to be a $16 trillion business opportunity by 2030
6 advantages of tokenization:
1. Increased Efficiency
Utilizing blockchain technology removes the need for legacy middlemen, resulting in reduced settlement time and cost savings for issuance as well as other processes (i.e. corporate actions, and reconciliation).
2. Reduced Cost
Automation, transparent record keeping, and reliance on public internet leads to significant reductions in cost, with blockchain reducing bond issuance costs by up to 90% while reducing fundraising costs by up to 40% compared to traditional private placement.
3. Better Compliance
The financial industry spends $181 billion per year on compliance, but blockchain reduces the risk of error and makes it cheaper and easier to manage complex compliance requirements by programming compliance rules directly into each token.
4. Improved Liquidity
There is an estimated $4 trillion locked in private equity and trillions in real estate, but tokenization opens assets up to a global investor pool and provides a way to trade previously illiquid or non-fractionable assets.
5. Increased Transparency
The blockchain promises to provide one golden source of truth for all parties to rely on, which helps keep the cap table updated and reduces disputes around record keeping.
6. Facilitated Innovation
Programmable contracts and shared ledgers can create fractionalized real estate, liquid revenue share agreements, dynamic ETFS, and other previously unmanageable offerings.
6 advantages of tokenization:
1. Increased Efficiency
Utilizing blockchain technology removes the need for legacy middlemen, resulting in reduced settlement time and cost savings for issuance as well as other processes (i.e. corporate actions, and reconciliation).
2. Reduced Cost
Automation, transparent record keeping, and reliance on public internet leads to significant reductions in cost, with blockchain reducing bond issuance costs by up to 90% while reducing fundraising costs by up to 40% compared to traditional private placement.
3. Better Compliance
The financial industry spends $181 billion per year on compliance, but blockchain reduces the risk of error and makes it cheaper and easier to manage complex compliance requirements by programming compliance rules directly into each token.
4. Improved Liquidity
There is an estimated $4 trillion locked in private equity and trillions in real estate, but tokenization opens assets up to a global investor pool and provides a way to trade previously illiquid or non-fractionable assets.
5. Increased Transparency
The blockchain promises to provide one golden source of truth for all parties to rely on, which helps keep the cap table updated and reduces disputes around record keeping.
6. Facilitated Innovation
Programmable contracts and shared ledgers can create fractionalized real estate, liquid revenue share agreements, dynamic ETFS, and other previously unmanageable offerings.
info.polymath.network
Introduction to Tokenization, the Benefits it Brings, and How it Works
Learn about the benefits of tokenization and what the typical tokenization process entails, from ecosystem assembly to token distribution, in this blog post.
Seriously, though. The censorship pressure applied to social media over the last decade pales in comparison to the censorship pressure that will be applied to AI.
📣 Saltwater Games launches Celeros metaverse for play-to-impact gaming
Global Web3 gaming studio, Saltwater Games (SWG), has announced the launch of its Celeros metaverse, a mixed-reality racing world for immersive, play-to-impact motorsports gaming. The launch paves the way for the release of AirspeederXR.
Dubai-headquartered SWG unveiled Celeros with the worldwide launch of its official Discord channel, which is already attracting widespread attention in the global gaming community. Integrating modern infrastructure into a familiar landscape, the Celeros metaverse reflects the real-world impacts of global warming and the general toll of human existence.
Source
Global Web3 gaming studio, Saltwater Games (SWG), has announced the launch of its Celeros metaverse, a mixed-reality racing world for immersive, play-to-impact motorsports gaming. The launch paves the way for the release of AirspeederXR.
Dubai-headquartered SWG unveiled Celeros with the worldwide launch of its official Discord channel, which is already attracting widespread attention in the global gaming community. Integrating modern infrastructure into a familiar landscape, the Celeros metaverse reflects the real-world impacts of global warming and the general toll of human existence.
Source
Lawyers for beleaguered crypto exchange FTX did not object to media arguing in the firm’s bankruptcy case, taking a step toward potentially identifying customers tied up in the collapse. media arguing in the firm’s bankruptcy case during a hearing on Friday morning.
Both parties appeared before a Delaware bankruptcy court judge Friday morning to hash out how the court would handle the disagreement. FTX has more than 100,000 creditors, and the top 50 could be owed $3.1 billion. Finger noted that some FTX creditors have already become public after the U.S. Trustee in the case identified members of a creditors committee. FTX attorney Brian Gluckstein did not object to media outlets arguing in the case.
Source
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🇧🇸 Trouble in the Bahamas following FTX collapse: Report
According to a report by the Wall Street Journal, the island country — which had encouraged cryptocurrency companies to feel at home with their “copacetic regulatory touch” — has been rocked by the implosion of FTX, while remaining optimistic about the future.
The Bahamas, which was also hard hit by Hurricane Dorian in 2019 and the pandemic shortly afterward in 2020, was already struggling to find ways to strengthen its economy which relies heavily on tourism and offshore banking for a bulk of its GDP. It appeared that the prime minister of the Bahamas, Philip Davis, and his government believed crypto could play a critical role in the island’s economic recovery.
Source
According to a report by the Wall Street Journal, the island country — which had encouraged cryptocurrency companies to feel at home with their “copacetic regulatory touch” — has been rocked by the implosion of FTX, while remaining optimistic about the future.
The Bahamas, which was also hard hit by Hurricane Dorian in 2019 and the pandemic shortly afterward in 2020, was already struggling to find ways to strengthen its economy which relies heavily on tourism and offshore banking for a bulk of its GDP. It appeared that the prime minister of the Bahamas, Philip Davis, and his government believed crypto could play a critical role in the island’s economic recovery.
Source
📣 Capgemini: Nine out of Ten Consumers Interested in the Metaverse
Capgemini, a consulting firm, has found that most consumers are at least curious about the metaverse and what it might bring to their lives. The report, which also examined consumer and company expectations of immersive experiences.
The Metaverse is becoming the focal point of studies that seek to identify the potential of possible investments in the field. Capgemini, a consulting firm, found that there is significant interest in the metaverse from both consumers and companies in its latest report issued on Dec. 8. 8,000 consumers and 1,000 organizations in 12 countries were surveyed for the report between July and August.
Source
Capgemini, a consulting firm, has found that most consumers are at least curious about the metaverse and what it might bring to their lives. The report, which also examined consumer and company expectations of immersive experiences.
The Metaverse is becoming the focal point of studies that seek to identify the potential of possible investments in the field. Capgemini, a consulting firm, found that there is significant interest in the metaverse from both consumers and companies in its latest report issued on Dec. 8. 8,000 consumers and 1,000 organizations in 12 countries were surveyed for the report between July and August.
Source
OpenAI dropped their AGI roadmap
Key takeaways:
Short term:
- OpenAI will become increasingly cautious with the deployment of their models. This could mean that users as well as use cases may be more closely monitored and restrained.
- They are working towards more alignment and controllability in the models.
Customization will play a key role in future OpenAI services.
- Reiterates that OpenAI’s structure aligns with the right incentives: “a nonprofit that governs us”, “a cap on the returns our shareholders can earn”.
Long term:
- Nice quote: “The first AGI will be just a point along the continuum of intelligence.”
- AI that accelerates science will be a special case that OpenAI focuses on, because AGI may be able to speed up its own progress and thus expand the capability exponentially.
Key takeaways:
Short term:
- OpenAI will become increasingly cautious with the deployment of their models. This could mean that users as well as use cases may be more closely monitored and restrained.
- They are working towards more alignment and controllability in the models.
Customization will play a key role in future OpenAI services.
- Reiterates that OpenAI’s structure aligns with the right incentives: “a nonprofit that governs us”, “a cap on the returns our shareholders can earn”.
Long term:
- Nice quote: “The first AGI will be just a point along the continuum of intelligence.”
- AI that accelerates science will be a special case that OpenAI focuses on, because AGI may be able to speed up its own progress and thus expand the capability exponentially.
OpenAI
Planning for AGI and beyond
Our mission is to ensure that artificial general intelligence—AI systems that are generally smarter than humans—benefits all of humanity.
Meta released LLaMA, 4 foundation models ranging from 7B to 65B parameters.
LLaMA-13B outperforms OPT and GPT-3 175B on most benchmarks. LLaMA-65B is competitive with Chinchilla 70B and PaLM 540B.
LLaMA-13B outperforms OPT and GPT-3 175B on most benchmarks. LLaMA-65B is competitive with Chinchilla 70B and PaLM 540B.
Meta Research
LLaMA: Open and Efficient Foundation Language Models - Meta Research
We introduce LLaMA, a collection of foundation language models ranging from 7B to 65B parameters. We train our models on trillions of tokens, and show that it is possible to...
Meta's internal data shows that they are growing compute and datacenter infrastructure faster than Google and Microsoft
A higher percentage of their capex is spent on servers, and so compute energy footprint is growing faster, despite lower spend.
Their PUE is <1.1, so it's not like their infrastructure is inefficient per say. Furthermore, they do a lot less containerization and virtualization because all code is trusted and so they wring more performance out of their servers than cloud service providers, even for internal use cases.
A higher percentage of their capex is spent on servers, and so compute energy footprint is growing faster, despite lower spend.
Their PUE is <1.1, so it's not like their infrastructure is inefficient per say. Furthermore, they do a lot less containerization and virtualization because all code is trusted and so they wring more performance out of their servers than cloud service providers, even for internal use cases.