The Week In Facts #77
Summary:
Mobility: Trek Refreshes Powerfly 4 Electric Mountain Bike With Trail-Ready Tech
Trek, a renowned name in the bicycle industry, has unveiled its latest model, the Powerfly Gen 4 electric mountain bike. This hardtail e-bike is designed for trail riding enthusiasts, offering a simple yet effective design without a rear suspension system. It features a Bosch Performance CX motor known for its 85-Newton-meter torque output, ensuring a powerful ride.?
The bike's mid-drive motor and downtube-integrated 500-watt-hour battery pack provide optimal weight balance. The Powerfly 4 also boasts a Shimano Deore 1x10 drivetrain for smooth pedaling alongside electric assist. The bike's frame is a sturdy aluminum construction, reinforced for spirited trail riding, and includes a side-loading battery mechanism for easy access.?
The SR Suntour XCM 34 front fork suspension underscores the bike's value-for-money proposition. Priced at $3,650 USD, the 2024 Trek Powerfly 4 offers an accessible entry into electric mountain biking from one of the industry's most respected manufacturers.
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Digital Product Passport: Surge in Interest for Digital Product Passport Ahead of Mandate
The upcoming regulation mandating Digital Product Passports (DPPs) has sparked a significant surge in interest, particularly in the textiles industry. Protokol, a blockchain and web3 solutions developer, reports a 413% increase in media coverage of DPPs compared to last year. This heightened attention is in response to the EU's proposed legislation aimed at reducing the environmental footprint of the fashion sector.?
Major fashion apparel players are already incorporating DPPs into their value chains, with initiatives like unique QR codes and partnerships for supply chain transparency.?
The textiles industry, one of the most wasteful industries globally, is feeling the pressure intensely as DPPs will be mandatory by 2030. DPPs offer a transparent and trustworthy way for businesses to demonstrate their sustainable credentials to an increasingly conscious customer base. The tool is essential for collecting and sharing product data to illustrate a product’s sustainability, environmental, and recyclability attributes.
NFT: Cristiano Ronaldo Sued for $1 Billion Over Binance NFT Promotion
Cristiano Ronaldo, the international soccer star, faces a class action lawsuit seeking over $1 billion in damages for his role in promoting cryptocurrency exchange Binance. The lawsuit alleges that Binance sold unregistered securities and operated illegally in the United States, with Ronaldo's celebrity status being used to drive traffic and investors to the platform.
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The plaintiffs argue that Ronaldo's promotions assisted Binance in soliciting investments in unregistered securities, potentially violating securities laws.
This legal action follows Ronaldo's release of his first-ever NFT collection with Binance, featuring animated digital statues capturing moments from his career. The lawsuit highlights the growing legal scrutiny and potential liabilities faced by celebrities involved in crypto promotions, especially in the context of regulatory compliance and investor protection.
Luxury: Sasha Stiles NFT Poem Top Seller At Christie’s x Gucci Auction
Sasha Stiles, a traditional and web3 poet, achieved notable success at Christie’s auction house in partnership with luxury brand Gucci. Her piece, "Repetae: Again, Again," was featured in the "Parallel Universes: from Future Frequencies to Gucci Cosmos" auction, which included works from various artists.
Stiles' work, a video displaying the word "again" in red text on a black background, accompanied by an AI-generated poem, sold for three Ethereum (ETH) to an online buyer. This sale matched the price of another top item at the auction, Harvey Rayner’s "Eden Fresco."
Stiles has previously collaborated with Gucci, exploring the relationship between text and textiles in her generative work "The Loom of Languages." The success of "Repetae: Again, Again" at the auction underscores the growing recognition and value of digital art and poetry in the contemporary art market.
AI: AI DeFi Smart Contract Auditor 'Lightning Cat' Enhances Blockchain Security
Researchers have developed 'Lightning Cat,' an AI model designed to identify vulnerabilities in smart contracts, enhancing security in the blockchain industry. Unlike traditional analysis tools, which often yield false positives or negatives, Lightning Cat employs deep learning techniques to flag potential issues more accurately.?
The model is based on three optimized deep learning models: CodeBERT, LSTM, and CNN, trained on datasets comprising thousands of vulnerable contracts.?
The CodeBERT model, in particular, demonstrates superior performance, capturing the syntax and semantics of the code with an impressive accuracy rate. However, there are concerns about the potential misuse of this technology by malicious actors to exploit vulnerabilities instead of fixing them.?
The researchers emphasize the importance of regular code audits, secure coding training, and responsible vulnerability disclosure policies. Lightning Cat represents a significant advancement in blockchain security, offering a more efficient and reliable method for detecting vulnerabilities in smart contracts.
Fashion: Fast Fashion Giant Shein Confidentially Files for an Initial Public Offering
Shein, the ultra-fast-fashion retailer known for its rapid production and delivery of trendy clothing, has confidentially filed for an initial public offering (IPO). The brand, which has faced criticism over its design and labor practices, appears to be making efforts to bolster its image ahead of the IPO filing.
Shein's rise to prominence in the fashion industry has been marked by its ability to quickly adapt to changing fashion trends and consumer demands. However, the company's business model and practices have raised questions about sustainability and ethical production.
The IPO filing indicates Shein's ambition to expand its global presence and solidify its position in the competitive fast-fashion market. This move could also signal a shift in the industry towards greater transparency and accountability, as public companies are subject to more stringent reporting and governance standards.