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    DroppGroup and UC Berkeley collaborate on AI-generated digital media benchmark

    The benchmarking initiative is set to start in the first quarter of 2024, and it builds upon the existing partnership between droppGroup and UC Berkeley established in 2022. The goal is to not only address a gap in standardization but also to establish a benchmark for systematically assessing the capabilities of generative AI.The system, known for producing AI-generated multimedia content such as 3D models, XR experiences, and metaverse environments, will be assessed through a newly developed framework. This initiative marks the first industry-standard benchmark aimed at providing a standardized evaluation of such systems based on performance, safety, efficiency, and user interaction metrics.droppGroup is a Web3 development firm focused on creating software solutions across various domains, including AI, machine learning, AR, VR, and cryptocurrency.The collaboration addresses the rapid growth of the generative AI market, which is expected to reach nearly $52 billion by 2028, up from $11.3 billion in 2023. The sector’s expansion is fueled by the adoption of large language models (LLMs) and GMI for various applications, including text-based tasks and media content creation.droppGroup’s platform droppPhygital uses GMI via its proprietary system, droppaMiGO, to transform inputs like photographs into complex 3D models and immersive digital environments. This process reduces the time and expertise required for content creation, shifting from traditional digital content creation processes to an AI-driven approach. The collaboration with UC Berkeley’s Launchpad aims to develop a benchmark for this technology, addressing the current lack of standardization in automatic 3D content generation and modeling.Christopher Kelly, president and co-founder of droppGroup commented: “Combining UC Berkeley’s academic excellence and research capabilities with droppGroup’s cutting-edge technology and real-world applications, this collaboration is set to push the boundaries of what’s possible in AI and machine learning. It demonstrates a successful model for how such collaborations can accelerate technological advancements and applications in society.”Launchpad is a UC Berkeley-based technology club that engages in machine learning and artificial intelligence projects to solve real-world problems and distributes ML/AI knowledge through community events and workshops. More

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    For all its faults, democracy is still better than autocracy

    Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Last week, I discussed the poor state of democracy in a webinar organised by an Indian media organisation. After my presentation, a member of the audience asked why Indians should be interested in democracy at all. Was it not a western idea foisted upon the rest of the world? Would developing countries not be better off with traditional autocracies?I was both disturbed and pleased by this question — disturbed because it says something when a member of India’s educated elite asks it in a public forum, but pleased because I know that many are now asking the question, and not just in developing countries. Tyranny‘s appeal is growing. You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.Freedom in the World 2024, a report from the independent think-tank Freedom House, asserts that “global freedom declined for the 18th consecutive year in 2023”. Over the past decade, big declines in political and civil rights have occurred in many developing countries. Under Narendra Modi, India is, alas, one of those countries.Are such declines perhaps a price worth paying for faster economic development? At the broadest level, this seems quite implausible. If one puts to one side a few resource-rich countries and Hong Kong and Singapore, the world’s richest countries are all liberal democracies. Is this really an accident? You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.Yet sceptics might still argue that democracy is not the best way for poor countries to become richer. They can point, for example, to China’s amazing growth record over the past 40 years. Yet the evidence does not support this view. A 2019 paper, Democracy Does Cause Growth, by Daron Acemoglu and others, argues that “there is an economically and statistically significant positive effect of democracy on future GDP per capita”. Thus, “long-run GDP increases by about 20-25 per cent in the 25 years following a democratisation”. Crucially, this also applies to countries at the early stages of development. Arguably far more important, as Carl Henrik Knutsen notes in a 2019 briefing note for the V-Dem Institute, the outcomes of autocracy show much higher variance. Thus, when autocrats are good they might indeed be very good, but when they are bad they are horrid. Stalin, Hitler, Pol Pot and Mao Zedong killed people by the millions. That might have been because they wanted to or it might have been because they did not care. The point is that autocracy is unaccountable government. Unaccountable governments can do anything.You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.In a brilliant recent piece, the historian Timothy Snyder argues that “strongman rule is a fantasy. Essential to it is the idea that a strongman will be your strongman. He won’t. In a democracy, elected representatives listen to constituents. We take this for granted, and imagine that a dictator would owe us something. But the vote you cast for him affirms your irrelevance. The whole point is that the strongman owes us nothing. We get abused and we get used to it.”You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.It is even worse than this. The would-be tyrant is not a normal human being. He is almost always consumed by the desire for power. Once he has gained what he seeks, how can one get rid of him if he proves mad? How can one preserve the integrity of core institutions against him? How can one manage the succession? We know that a constitutional monarchy can work. We know that an autocrat can do well in a small country, such as Singapore, if he recognises that it requires the rule of law and secure property rights. We know that in South Korea and Taiwan, autocrats oversaw the start of rapid development. We know, too, that China had, in Deng Xiaoping, a leader who was not drunk on personal power. So, as the Chinese say, one might have a “good emperor”. But what is to be done if, as so often, one has a bad one, instead?You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.Democracy prevents such dire outcomes because it has built-in methods of correction. Even if a democracy has inadequate civil, political and legal rights, as too many do, elections might still make a difference. This turned out to be true in Poland last year and, just now, in Turkey. The fact of elections is a constraint in India, too. In parliamentary systems, members of parliament can also revolt, as they did in the UK against Boris Johnson and Liz Truss. The great argument for democracy is not that it will produce good rule, but that it will prevent terrible rule, which is the worst thing societies can have, except for the absence of rule — in other words, anarchy. The more complete the set of rights, the more potent will be the constraints: there will then also be open debate, freedom to protest, free media and independent institutions. You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.Democracy is always fragile. It is fragile because some people want to be tyrants and too many people want to trust them. This is also more likely if democracies fail to deliver the goods that people desire — a sense of belonging, of security, of being valued. As Yascha Mounk argues in The Identity Trap, democracies are more fragile in more unequal and more diverse societies, not least because would-be tyrants will play on such divisions. Indeed, it is hard to create liberal democracies in such societies in the first place, as Warwick’s Sharun Mukand and Harvard’s Dani Rodrik argue in The Political Economy of Liberal Democracy.My interlocutor was right: democracy is a recent innovation. But he was also wrong: that democracy is recent, does not mean it is not valuable. This is true even if democracies are imperfect and autocracies sometimes work for a while. Democracy delivers accountability for governments and voice for citizens. That is far better for us than serving the whims of despots. [email protected] Follow Martin Wolf with myFT and on X More

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    DOGLNAUT Launches on Solana with Charitable Focus

    Among the latest entrants to the crypto MEME token space on Solana is DOGLNAUT, utilizing useful tokenomics, a commitment to charitable giving, a fair launch approach, and deflationary mechanisms to take MEME tokens to the next level. DOGLNAUT is excited to embark on a journey of influence in the market’s crypto galaxy.Fair Launch and Presale LaunchIn a realm often marred by scams and rug pulls, DOGLNAUT upholds the principles of fairness through its launch approach. The highly anticipated presale is set to start on April 5. It will end on April 19, with the Liquidity Pool (NASDAQ:POOL) opening on April 20, allowing enthusiasts to join the cosmic journey. Lasting two weeks, the presale will ensure ample time for early supporters to secure their place in the DOGLNAUT community.To foster inclusivity and deter whale manipulation, the presale imposes a minimum purchase amount of 0.5 SOL and a maximum purchase amount of 5 SOL. This approach not only helps mitigate the risk of large investors dominating the market but also helps ensure a level playing field, allowing individuals of all backgrounds to participate and contribute to the project’s success.Innovative TokenomicsDOGLNAUT’S innovative tokenomics are designed to foster liquidity, sustainability, and engage in charitable giving. Of the total 1,000,000,000 supply, 45% will be reserved for the presale, and 45% will be allocated to the liquidity pool.Of the remaining 10%, 5% of the tokens will be earmarked for charitable donations but will essentially be “softlocked” until they reach a value that can maximize the amount of contributions that can be made, in order to further DOGLNAUT’s mission of making a positive impact. The remaining 5% will be dedicated to marketing, hiring, and other expenses which are crucial to amplifying DOGLNAUT’s visibility and reach.Community Engagement and Charitable GivingFrom the start, DOGLNAUT hopes to create a vibrant and passionate community, united by a shared vision of technology and philanthropy. DOGLNAUT’s innovative tokenomics, built on the Token-2022 standard, help ensure sustainable tokenomics and ongoing support for charitable initiatives, with a miniscule fee of 2% on transactions.This fee is distributed into a pool which will be used 0.5% for advertising, 0.5% for replenishing the liquidity pool, 0.5% for donations, and the remaining 0.5% will be burned, creating a sustainable and deflationary ecosystem that benefits both investors and society. This deflationary pressure inherently increases the scarcity of DOGL tokens, incentivizing community members to HODL their DOGL, fostering a robust and sustainable token economy.The FutureAs DOGLNAUT prepares for its maiden voyage into the cryptoverse, The DOGLNAUT team is excited to begin our journey with a fun and light-hearted MEME to Solana. With other projects on the horizon, sustainable tokenomics, a commitment to charitable giving, and a vibrant community, DOGLNAUT aims to make a lasting impact on the Solana landscape and beyond.ABOUT USWe are a dedicated collective of developers, united in our mission to harness the power of memes for positive societal impact. Our team boasts a diverse array of talents, from web development to traditional finance, and we’re passionate about leveraging the Solana blockchain and the innovative Token-2022 standard. Our goal is to create a dynamic, sustainable ecosystem with robust tokenomics designed for longevity. Beyond fueling a MEME token with community creativity and strength, we’re committed to building a platform that fosters meaningful engagement and delivers impactful outcomes. Our vision extends to establishing a DAO, empowering our community to direct our efforts towards the most impactful causes. Together, we’re not just envisioning change; we’re coding it into reality.Website | Telegram | [email protected] article was originally published on Chainwire More

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    UK government refuses public inquiry into bankrupt Essex council

    Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The UK government has rejected a request for a public inquiry into the bankruptcy of Thurrock council in Essex, forestalling a potential wider probe into systemic failures in oversight and funding of local authorities across England.Residents of the Conservative-run town hall, which collapsed into insolvency in December 2022, first petitioned for an investigation last year, expressing anger that they would be paying the price for mismanagement at the council in higher taxes and stripped-back services for years to come.A string of other towns and cities face parallel pressures amid a broader national squeeze on local government finances. Whole councils have gone bankrupt including Birmingham, the London borough of Croydon and Woking in Surrey.For a variety of reasons, including reckless commercial strategies and diminished spending power, these councils have been forced to ration services and raise local taxes by exceptional amounts after failing to balance their budgets.In a letter to Thurrock council this week, Simon Hoare, minister for local government, said he understood the “strength of feeling in the local community”. But he argued that a best value inspection report published last year, together with ongoing government oversight, was the most effective way to get to the root of the issues.Minister for local government Simon Hoare said he understood the ‘strength of feeling in the local community’ More

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    BoE prepares for ‘once in a generation’ overhaul in forecasting

    The Bank of England is gearing up to overhaul the way it produces and communicates its outlook for the economy after it was criticised for failing to predict the jump in inflation after the pandemic.Andrew Bailey, the Bank of England governor, told the Financial Times that he is expecting the central bank to drop its existing “fan chart” forecasts as part of a set of reforms that will better convey the uncertainty hanging over its economic policy outlook. A growing number of BoE officials are in favour of instead using projections of alternative scenarios, potentially alongside a central forecast. But analysts and officials stress that shifting to a new regime will not be easy and caution that the reforms are unlikely to be brought in rapidly. The Bank of England ‘fan’ chartBoE policymakers do not release projections of where they think interest rates will go. They do put forward so-called fan chart forecasts of the economy based both on market expectations for interest rate movements and unchanged rates, showing the probabilities of different outcomes. (See bottom of story for communication strategies of other central banks)“This will amount to a profound change to the way the bank handles monetary policy,” said Jens Larsen, a former BoE official who is now director of geoeconomics at Eurasia Group consultancy. “It will change the way they conduct their internal policy debate and hopefully lead to much better communications, in a world that is more volatile and where the shocks are likely to be more profound,” he added.Like counterparts including the European Central Bank and the US Federal Reserve, the Bank of England was badly stung for failing to foresee the steep rise in inflation that followed the end of Covid-19 lockdowns. After responding with aggressive rate rises, central banks have conducted postmortems as they seek to learn the lessons of the episode.  The BoE said last summer it had commissioned former Federal Reserve chair Ben Bernanke to produce a report on its forecasting, which is due to be published this month. Speaking to the FT after the BoE’s March rate-setting meeting, Bailey made it clear that he sees the changes that will follow the Bernanke report as a “once in a generation” opportunity for Britain’s central bank to upgrade its internal processes for forecasting what lies ahead for the economy and communicating this to the public and markets. The change will entail increased investment in the bank’s IT systems, and Bailey said the bank is also examining ways of deploying AI.But the biggest change will be a move away from the bank’s so-called fan charts, Bailey said. Pioneered by the bank in 1996, they attempt to depict the probability of outcomes for growth and inflation under various assumptions, but have frequently been criticised as confusing. BoE governor Andrew Bailey: ‘We’ve got some pretty big plans’ More

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    Peercoin Foundation is on the Verge of Cracking Off-Chain Smart Contracts

    Ever since the popularization of smart contracts, the industry standard is for contracts to be hosted and executed by the blockchain itself. However, the Peercoin Foundation announced in a recent blog article that it has been experimenting with a secure and decentralized way of moving the execution of smart contracts off the blockchain. Doing this would provide massive benefits like increased privacy, lower fees and improved scalability.With this new off-chain technology, the Peercoin Flutter app will be able to handle various decentralized applications, including prediction markets, financial contracts like binary options, futures, as well as any other type of contract where the outcome can be determined based on data provided by an oracle, such as sports betting, election results, and more.Peercoin’s second layer is imagined as a collection of independent dApps with the app logic being executed off-chain. Final balances are then settled on Peercoin’s mainnet. To summarize, by moving the execution of smart contracts off-chain, the following favorable traits are achieved:The blog article suggests that this project has been ongoing for over a year now, and this week marks the first successful test of threshold signature support on Peercoin’s testnet, one of the technologies necessary to make the system work.How Does it Work?The plan is to use the following combination of technologies:Traditionally, the main issue with DLCs has been reliance on centralized oracles, which increases the risks and decreases the trust in such systems. However, by combining the above technologies, the problem is solved by introducing the concept of distributed oracles (also called an oracle swarm).A swarm tackles the problem, as the oracle is no longer a single party that must be trusted, but an entire network of potentially hundreds of participants with internal consensus and governance. If enough participants of the swarm agree on the outcome of an event, they can construct and publish the information that proves they, as a collective, agree on that outcome. This is peer to peer consensus in its true sense.Ease of Use with Mobile IntegrationTechnologies like threshold signatures, distributed oracles and off-chain contracts won’t really become meaningful unless they’re easy for everyone to use on the go in their daily lives. This means hiding all the complicated tech stuff under the hood and presenting it in a simple and clear interface to users.Knowing this, the plan is to integrate all these technologies into the Peercoin Flutter Mobile Wallet. The mobile wallet is being developed to allow its users the ability to create and interact with discreet log contracts (DLCs) and form oracle swarms.About Peercoin FoundationThe Peercoin Foundation is a non-profit organization established in 2018 with the simple mission of promoting and supporting the continued education, development, and overall progression of the Peercoin project. The Foundation seeks to empower the Peercoin community by providing the tools necessary to perpetuate Peercoin’s long-standing reputation. The Peercoin blockchain network and the Peercoin project in general is an open-source decentralized ledger, with no governing body. The Peercoin Foundation makes no claims over intellectual property related to the Peercoin project, unless explicitly stated otherwise.The Foundation is funded solely by community donations.Official Links:Website – https://www.peercoin.net/Foundation – https://www.peercoin.net/foundationTwitter – https://twitter.com/PeercoinPPCBlog – https://www.peercoin.net/blog/Forum – https://talk.peercoin.net/Telegram – https://telegram.me/peercoinDiscord – https://discord.gg/m294ReVContact Information:Email: [email protected]: The information contained in this press release is for information purposes only and does not constitute investment advice or a solicitation to purchase or invest. The price of Peercoin can be extremely volatile and can fluctuate rapidly in response to market conditions. Before making any investment decisions, you should carefully consider your investment objectives, level of experience, and tolerance for risk.ContactPeercoin [email protected] article was originally published on Chainwire More

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    Avail Partners With dWallet Network To Introduce Native Bitcoin Rollups to Web3

    Following the integration, users will be able to natively manage their BTC on any rollup in the Avail ecosystem without relinquishing control over their digital assetsAvail, a modular blockchain solution designed to unify Web3 and optimize data availability (DA) for highly scalable and customizable applications, has partnered with dWallet Network, a pioneering non-collusive, decentralized multi-chain layer, to bring programmable native Bitcoin to rollups in the Avail ecosystem.Leveraging the newly unveiled dWallet primitive, smart contracts using rollups built on Avail DA will be able to programmatically manage native BTC for the first time while preserving user ownership. This marks a paradigm shift from emerging Bitcoin L2 solutions that predominantly rely on collusive and often risky cross-chain solutions, such as bridges, where the user must sacrifice ownership of their BTC.The integration with the dWallet Network, coupled with the ability to control dWallets from a smart contract on any Avail rollup, was made possible through Avail Nexus, a zero-knowledge coordination rollup embedding validity-proof based light clients and execution proof aggregation. This pivotal move towards the unification of Web3 will also enable developers to power Avail Fusion’s borrowed security from native assets of the most mature ecosystems, including BTC, ETH, and others.Furthermore, the dWallet Network integration will facilitate the Fusion Security model when it goes live, empowering users to securely hold their BTC, ETH, or other assets in dWallets and stake them to bolster the safety of the Avail ecosystem, all while maintaining ownership of their native assets. This introduces the first native multi-chain staking/restaking solution aimed at securing the consensus of a different blockchain.To implement the dWallet primitive, the dWallet Network utilizes 2PC-MPC, the state-of-the-art protocol invented by its team. This industry-first multiparty protocol enables the generation of an ECDSA signature in a non-collusive way, requiring participation from both the end-user and a significant number of nodes, the number of which could potentially reach hundreds or thousands.dWallet technology allows a Solidity smart contract on an Avail rollup to create Bitcoin signatures and enables developers to manage a dWallet. Meanwhile, the dWallet Network mandates approval from the Avail rollup smart contract for logic enforcement, requiring users to finalize the signature to prevent collusion and asset theft. Whether for Web3 applications in custody, DeFi, DAOs, gaming, or other domains, any protocol on an Avail rollup can leverage dWallets for enhanced functionality and secure interoperability.Avail DA stands as the initial cornerstone element of the Avail trinity, offering expansive blobspace for rollup developers and serving as a foundational layer for a diverse and vibrant ecosystem of rollups. Avail Nexus, aimed at unifying the ecosystem beyond the blockchains built atop Avail’s DA layer, employs Avail DA as the trust anchor for ecosystem-wide coordination. Lastly, Fusion Security will offer additional protection to an expanding network of rollups and blockchains, thus enhancing Avail’s consensus mechanism. Supercharging the Avail trinity with dWallets accelerates the unification of Web3, addresses issues of fragmentation, and paves the way for a completely integrated, secure, and native experience across all Web3 ecosystems.About Dwallet NetworkdWallet Network is the home of dWallets – programmable and transferable signing mechanisms that live on-chain. dWallet Network empowers builders on L1s and L2s to utilize dWallets as a building block for managing assets & enforcing logic across all of Web3 in a decentralized and noncollusive way.For more information, users can visit: https://dwallet.io/About AvailAvail is building a unification layer to solve rollup fragmentation and scalability. Avail addresses this from first principles with its three phase roadmap, the Avail Trinity. Starting with Avail DA, the validity proven data availability layer that scales with demand, followed by Nexus for permissionless unification, and Fusion for shared security. Blockchain and rollup developers can submit transaction data to Avail DA today and inherit the security and benefits of Avail’s KZG commitments and light clients with data availability sampling. Start building today, because the unification of web3 is coming!For more information, users can visit: https://www.availproject.org/ContactSiva SagirajuMarketing leaddWallet [email protected] article was originally published on Chainwire More