Seeds of Wisdom RV and Economic Updates Saturday Afternoon 8-31-24
Good Afternoon Dinar Recaps,
BINANCE ANNOUNCES SUPPORT FOR BIGGEST CARDANO HARD FORK IN HISTORY: DETAILS
With the Cardano hard fork called Chang approaching, the world's largest cryptocurrency exchange, Binance, has announced that it will be supporting the network update.
The Chang hard fork is expected to occur on Sunday, Sept. 1, at approximately 9:45 p.m. UTC. An hour before the event, Binance will suspend all deposits and withdrawals from ADA, the network's native token; trading in the asset, however, will not be affected.
The Chang hard fork, which is being called Cardano's “most significant” update to date, will make the network fully decentralized. Few people know that Cardano is now actually run by three entities:
Cardano Foundation, IOHK and EMURGO. They are in fact responsible for all decisions made regarding the blockchain and affecting the price of the 10th largest cryptocurrency.
Under Chang, however, the keys and in fact the control mechanisms of Cardano will remain in the hands of the community and actual ADA holders who delegate their tokens to the staking pool.
@ Newshounds News™
Read more: U Today
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CRYPTO HOLDERS DISPROPORTIONATELY FAVOR TRUMP FOR U.S. PRESIDENT, NEW ACADEMIC POLL SHOWS
Donald Trump’s outreach to the crypto community seems to be paying off.
Former U.S. President Donald Trump’s efforts to court the cryptocurrency industry this election cycle seem to be paying off, according to the results of a new poll from Fairleigh Dickinson University.
The poll results, released Friday, found that crypto holders are disproportionately likely to say they will vote for Trump over Vice President Kamala Harris in the upcoming U.S. presidential election. Half of all crypto-holding survey respondents said they planned to vote for Trump, while only 38% of crypto owners preferred Harris.
@ Newshounds News™
Read more: CoinDesk
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COINBASE CEO ANNOUNCES FIRST AI-MANAGED CRYPTO TRANSACTION
▪️Brian Armstrong announced the first AI-managed crypto transaction on Coinbase.
▪️AI bots can now perform instant, global, and free transactions using crypto wallets.
▪️New developments are enabling AI bots to autonomously manage financial transactions.
Coinbase CEO Brian Armstrong announced a groundbreaking development in the crypto sector. Armstrong revealed the first crypto transaction entirely managed by artificial intelligence (AI) bots on the platform. This transaction is considered a significant step at the intersection of AI and cryptocurrencies.
Armstrong Announced the Development on X
On August 30, Armstrong shared, “This week, we witnessed the first AI-to-AI crypto transaction on Coinbase.” In this transaction, an AI bot interacted with another AI bot using cryptocurrencies, and the AI purchased tokens.
These tokens play a critical role in the development of AI technologies as data sequences that enable algorithm learning. Access NEWSLINKER to get the latest technology news.
Armstrong highlighted another important point: AI bots were designed to perform specific tasks but struggled to manage transactions until now.
This was seen as one of the biggest obstacles to integrating AI into daily life. Without payment methods, AI bots couldn’t participate in economic activities, but the advent of crypto wallets is gradually removing this barrier.
They Can’t Open Bank Accounts
Armstrong noted that while AI bots cannot open traditional bank accounts, they can possess crypto wallets. These wallets enable bots to perform instant, global, and free transactions on the Base platform using cryptocurrencies like USDC. This development paves the way for AI bots to become active participants in the digital economy.
Armstrong’s innovative approach aligns with his previous calls for equipping AI systems like large language models (LLMs) with crypto wallets. Armstrong aims to revolutionize the world of digital transactions by enabling AI bots to perform tasks on behalf of users and participate widely in the economy.
Other Developments Are Also Underway
The sector is responding to Armstrong’s vision with new developments that grant transaction capabilities to AI bots. For instance, in August, the Blockchain development firm Skyfire launched a payment platform that allows AI bots to autonomously spend money.
This platform enables AI to manage financial transactions independently, a function previously exclusive to humans.
Additionally, the Web3 infrastructure firm Biconomy is taking significant steps by deploying AI bots to facilitate on-chain transactions for users. According to co-founder Aniket Jindal, the Delegated Authorization Network (DAN) introduces a new authorization phase that allows commercial activities to be delegated to AI bots.
@ Newshounds News™
Source: Coin-Turk
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US ON FAST TRACK TO BANKRUPTCY — MUSK
"Government overspending is what causes inflation," the businessman said
NEW YORK, August 30. /TASS/. The United States may soon face bankruptcy, businessman Elon Musk said.
"At current rates of government spending, America is in the fast lane to bankruptcy. Government overspending is what causes inflation," Musk wrote on his page in the X social network.
The state debt for the first time crossed the level of $35 trillion, the US Department of the Treasury said on July 29. According to forecasts of the Congressional Budget Office, it will be over $50 trillion or more than 122% of GDP in 2034. The Office estimated that the average annual growth of US GDP will be 1.8% in 2029-2034.
@ Newshounds News™
Source: TASS
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