MPs clamp down on football Crypto app. What's the right to repair? Deepfakes and democracy.
MPs call for an end to Crypto-based tokens backed by football teams
In a report, MPs have called for the end of volatile Crypto-based schemes that rely on financial backing from football supporters.
The Culture, Media and Sport Committee singled out the Blockchain-backed platform Socios, which uses the technology to provide supporters with fan tokens, presented as an investment.
With fan tokens, users can redeem fan experiences from teams such as Arsenal and Manchester City.
Cryptocurrencies are notorious for their volatility, leaving some with large returns on their investments and many with nothing.
The CMS said: "We are also concerned that clubs may present fan tokens as an appropriate form of fan engagement in the future, despite their price volatility and reservations among fan groups.”
In response to the report Socios cite, that through the app 24,000 matchday tickets were received. They said: ?"Fan Tokens offer new and complementary benefits to clubs' traditional fan engagement beyond the boundaries of geography, and unlike NFTs (non-fungible tokens), are regulated by the FCA (Financial Conduct Authority)."
California has made the Right to Repair law
California Governor Gavin Newsom, has signed the Right to Repair Act.
This means that it’s enshrined into the State’s law that you need to be able to repair or have your tech repaired.
The right to repair has long been a point of contention, with many devices becoming sealed units and unrepairable, increasing e-waste.
The move aims to reduce e-waste and was introduced to the UK in 2021.
Manufacturers must make tools, parts, software and documentation available for seven years after production.
With so many tech firms based in California, this may have industry-wide ramifications.
Over in the United States, New York, Colorado and Minnesota have signed the right to repair into law.
Innovative Business Tech Uses: Bristol Technology Festival
This week the 2023 Bristol Technology Festival went ahead, showcasing numerous innovative uses for technology.
Some of the start-ups demonstrating their technology include:
Socks that alert carers to a patient's distress using heart rate and sweat levels.
领英推荐
An electrified pregnancy test that allows blind users to self-test.
AI-powered hologram technology that brings celebrities to life in a picture frame.
As the UK’s largest regional Tech festival, the event gives smaller entrepreneurs and inventors the chance to show off their work as well as engage in a number of panels covering aspects of their work such as User Research and AI implementation.
12/10/23 - AI Run down
Deepfake technology fakes Keir Starmer, taking inspiration from The Capture.
Deepfakes took the internet by storm in the pandemic, and just took a serious twist.
A supposed audio recording of Keir Starmer has been released, suggesting that Starmer abused party staffers.
Obviously, there are potentially serious ramifications, for this as depicted in numerous films, TV shows and books, the consequences could undermine democracy.
Fake news and misinformation online have been a serious issue this past decade and this could be set to get a lot worse.
AMD plans to acquire Nod.ai, making AI more accessible to smaller companies.
With all the major tech players acquiring AI firms, AMD is taking their turn.
AMD are primarily a competitor to Nvidia, both chip makers build the technology that AI runs on.
Nvidia is currently the leading provider of computer chips for AI, but not faced much strong competition.
With the acquisition of Nod.ai, AMD aims to be able to fine-tune its technology for AI models and introduce more competition in the space, driving the adoption of the technology.
Finding our newsletter useful? Feel free to share it with your colleagues.
If you're looking to apply Shoothill's expertise to your business or start-up.