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Home Blog Page 4218

Ordinal Inscriptions is unraveling more use case for Bitcoin

By
Paul Ugbede Godwin
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0

Ordinals Inscriptions specializes in creating digital signatures for documents and transactions using blockchain technology. One of their main products is Ordinals Sign, a platform that allows users to sign and verify contracts, invoices, receipts, and other documents with Bitcoin.

Ordinals Inscriptions is unraveling more use cases for Bitcoin beyond digital signatures. In a recent blog post, the company announced that it is developing a new service called Ordinals Pay, which will enable users to make and receive payments in Bitcoin with low fees and high security.

Ordinals Pay will leverage the Lightning Network, a second-layer solution that aims to improve the scalability and speed of Bitcoin transactions. The Lightning Network allows users to create channels of payments between each other, without having to broadcast every transaction to the main blockchain. This reduces the congestion and costs of the network, while maintaining its decentralization and security.

Ordinals Pay will allow users to create and join payment channels with other users or merchants, and send and receive Bitcoin instantly and cheaply. Users will also be able to use Ordinals Sign to sign and verify their payment requests and invoices, creating a seamless and trustworthy payment experience.

Ordinals Inscriptions believes that Ordinals Pay will open up new possibilities for Bitcoin adoption and innovation. The company stated that Ordinals Pay will be compatible with any Lightning Network-enabled wallet or service, and that it will also integrate with other platforms and applications that use Ordinals Sign.

Ordinals Inscriptions is planning to launch Ordinals Pay in the second quarter of 2023. The company invites interested users and partners to sign up for early access on their website.

Samsung Challenges Staff to Use AI Within Company Guidelines

By
Ojukwu Emmanuel
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0

Giant tech and electronics manufacturer Samsung has restricted the use of Artificial Intelligence tools by employees after it discovered that they were being misused.

In a company-wide memo, it expressed concerns about vital data being shared on AI platforms and ending up in the hands of other users. The new policy introduced at Samsung is coming after reports revealed that some employees of the company had uploaded a sensitive internal source code on ChatGPT last month. Hence, Samsung is restricting the use of such AI Powered tools to prevent further sensitive info from being shared on such platforms.

Samsung wrote,

“Interest in generative AI platforms such as ChatGPT has been growing internally and externally. While this interest focuses on the usefulness and efficiency of these platforms, there are also growing concerns about security risks presented by generative AI.

“We ask that you diligently adhere to our security guidelines and failure to do so may result in a breach or compromise of company information resulting in disciplinary action up to and including termination of employment”.

Samsung further warned its employees to take precautions when using AI tools like ChatGPT, Bard, or other AI-powered tools, advising them to desist from entering any personal or company-related information into such services.

In a company-wide survey conducted last month, 65% of those who responded said there was concern about security risk when using generative AI services. This is a growing concern since the data shared on AI chatbots like ChatGPT are usually stored on servers owned by the companies that operate the services, like OpenAI, Microsoft, and Google, making it difficult to access the data or delete it forever.

The company is therefore reviewing its security measures to create a secure environment for employees to use AI. It is also worth noting that the electronics giant maker is developing its own internal AI tools for translation, summarizing documents, and software development. It is also exploring ways to block the uploading of sensitive information to external services.

Samsung joins the likes of other top companies such as Citigroup, Goldman Sachs, and JP Morgan Chase, to restrict employees from using ChatGPT over concerns about third-party software accessing sensitive information.

Meanwhile, ChatGPT maker OpenAI last month previewed the business plan for ChatGPT, and introduced new privacy controls. The company announced that users can now turn off chat history in ChatGPT, a privacy feature for the tool that hadn’t been offered before. To monitor for abuse, the company said unsaved chats will be retained for 30 days before they are permanently deleted.

OpenAI also revealed that it plans to introduce a new subscription tier for ChatGPT, tailored to the needs of enterprise customers. Called “ChatGPT Business”, OpenAI describes the forthcoming offering for professionals who need more control over their data as well as enterprises seeking to manage their end users. It’s an interesting decision from the company and will appeal to users to prioritize security over the best possible user experience.

“The Journey to Growth” – Tekedia Live

By
Ndubuisi Ekekwe
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0

It is Tekedia Mini-MBA Graduation Week. Join us at Tekedia Live for the first lecture titled “The Journey to Growth”.  After our co-learning process over the last 12 weeks,  it is now time for execution. When we execute, we grow professionally. Zoom link in the Board . To join the next edition, go here 

Welcome! At Tekedia Institute, we co-learn with thousands of professionals and students, from 41 countries, on the mechanics of business, connecting innovation, growth and operational execution, across market territories and industrial sectors. Our Faculty members come from Microsoft, Google, Shell, Flutterwave, Nigerian Breweries, NNPC, Jobberman, Coca Cola, PwC, and other great organizations. Besides pre-recorded courseware, thrice weekly, we hold live Zoom sessions (Tue, Thur and Sat at 7pm WAT). REGISTER and join us! – Prof Ndubuisi Ekekwe, Tekedia Institute Lead Faculty.

Why Is HedgeUp (HDUP) Predicted to Replace Polygon (MATIC)?

By
TI Partners
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0

With the increasing demand for decentralized finance (DeFi) solutions, many projects have emerged as viable alternatives to current protocols.

One project that has recently gained attention is HedgeUp (HDUP), a new protocol predicted by some experts to have the ability to replace Polygon (MATIC) in price.

HedgeUp (HDUP) may be the next big player in DeFi, given its potential. So what makes HDUP unique compared to other projects? And can it deliver on its ambitious goals?

Polygon (MATIC) – the facts

Polygon (MATIC) was designed to provide faster, cheaper, and more efficient transactions than its more established competitors. By leveraging the latest blockchain technology, Polygon (MATIC) gained traction as a platform ideal for developers and cryptocurrency enthusiasts.

One of the key advantages of the network is its ability to support various decentralized applications, providing users with a wide range of options for more sophisticated cryptocurrency interactions.

Additionally, Polygon (MATIC) has made significant strides in the ever-evolving world of NFTs, allowing creators to mint non-fungible tokens at a lower cost than other similar networks.

So, what’s the problem?

The main issue is outages. Polygon (MATIC) has gone down multiple times in the last year. On one occasion, it didn’t create a new block for nearly 12 hours. While this isn’t quite as bad as what Solana users have had to deal with, it’s pretty horrid compared to other blockchains.

Next, it’s not great to use. It can be slow and clunky. Users want a seamless experience that Polygon (MATIC) has failed to deliver on a consistent basis.

Lastly, the competition is too steep. Solana has the NFT throne, while Layer 2 solutions like Arbitrum and Optimism are proliferating and poised to dominate the landscape.

While Polygon (MATIC) is a top 10 coin with a market cap of nearly $9 billion, that number is unlikely to hold come the next bull run. Too many projects are doing amazing things for people to hold tokens belonging to outdated and slow protocols.

The answer – HedgeUp (HDUP)

What is HedgeUp (HDUP), and why can it surpass Polygon (MATIC) as a top token?

DeFI is growing in popularity. With the collapse of many centralized projects, users are moving into this previously unexplored ecosystem. HedgeUp (HDUP) is the right project at the right time. It lives on Ethereum, the biggest DeFI chain with plenty of users and liquidity.

It has put together a platform that allows users to invest in physical products — known in the TradFi world as alternative investments. This includes gold, wine, and even watches.

All DeFi platforms offer some sort of tokenomics, and HedgeUp (HDUP) will be one of the best in the game. They will provide deep liquidity on-chain, allowing users to reap the rewards of both token growth and extra yields through farming.

Conclusion

The bottom line is that HedgeUp (HDUP) can potentially replace Polygon (MATIC).

It provides users with a platform for DeFi investments, deep liquidity on-chain, and access to alternative investment products. The Ethereum blockchain offers greater access to investors than Polygon (MATIC) and greater reliability regarding network outages.

With these features in mind, HedgeUp (HDUP) could very well be the next big player in decentralized finance and displace Polygon (MATIC) as one of the leading platforms.

Find out more about the HedgeUp (HDUP) presale here:

  • Website: https://hedgeup.io/
  • Presale: https://app.hedgeup.io/sign-up
  • Telegram: https://t.me/HedgeUpChat
  • Twitter: https://twitter.com/HedgeUpOfficial

Banks’ New Nature of Risk – And the Mild Poison Pill of Mobile Banking

By
Ndubuisi Ekekwe
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1

Head of Risk Management: What is the biggest risk for your bank right now over there in Lagos? Yes, the typical ones remain, including fraud, asset quality, defaults, etc. But add this one: ease of fund withdrawal using apps.

In the last few weeks, three banks have collapsed in the United States, not because they were really bad banks, but because depositors panicked, and moved money out of them at scale. What happened to them would not have materialized 20 years ago when our phones were not bank branches. But today, the game has changed. Indeed, the frictions banks have worked to fix, improving customer experiences, are now some of the weakest links in banking risk management. This is a mild poison pill; you built it, and now, it is a problem, especially for smaller banks.  The mean time to react over bad press or panic is shorter!

First Republic Bank in the United States collapsed after customers withdrew billions of dollars in weeks.

The bank’s earnings report revealed it had lost $100 billion in deposits in the first quarter (Q1) of 2023. This was fueled in part by panic among clients of regional banks due to the failures of SVB and Signature Bank. First Republic’s quarter-over-quarter deposits had dropped by more than 40 percent to $104.5 billion.

Simply, if you mess up, depositors can panic and move cash out using their phones before  you realize what is happening. Unlike in the past where you could deploy fewer tellers to manage the withdrawals, if you try to clamp on the app-based withdrawal, you will even trigger more panic.

Nothing to regret because that pill was necessary and it has a mild effect. But you need to be alert all the time even as you improve your risk management model. But the message is clear: banks can easily collapse these days than in the past as information asymmetry has been largely removed, making it possible to know what is happening – and with branches in pockets, risk managers cannot sleep.

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