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Japanese Startups Can Now Raise Funds Using Cryptocurrencies

by Blockchain NewsSeptember 16, 2023

In a recent move to diversify funding methods for startups, the Japanese government has announced regulatory relaxations allowing startups to raise capital through cryptocurrencies, according to Nikkei. This decision comes as part of Japan’s efforts to catch up with international standards in handling digital assets.

Previously, startups in Japan primarily relied on traditional means like equity for fundraising. With this new regulation, startups can now offer digital assets, specifically cryptocurrencies, as an alternative to traditional securities when receiving investments from funds. This initiative is particularly targeted at funds known as Limited Partnership for Investment (LPS) in Japan.

This move is seen as a significant step for Japan, which has been perceived as lagging in the global digital asset space. By allowing startups to leverage cryptocurrencies for fundraising, the government aims to make the country more attractive for venture capital investments and to foster innovation in the burgeoning tech sector.

While Japan has been prudent in accepting crypto, it has actively adopted cryptocurrency regulations and initiatives. On June 27, 2023, as reported by Blockchain.News, the Financial Services Authority (FSA) of Japan announced its participation in the Monetary Authority of Singapore’s (MAS) “Project Guardian” initiative. Established by MAS in May 2022, “Project Guardian” explores the feasibility of applying digital technologies to various asset classes while ensuring financial stability and integrity.

According to MAS, the Financial Services Authority (FSA) of Japan is the first overseas regulator to join “Project Guardian.” MAS stated, “MAS is also pleased to welcome the Japan Financial Services Agency (JFSA) as the first overseas financial regulator to join Project Guardian. This paves the way for MAS and the JFSA to collaborate on digital asset innovation and best practices for asset tokenization, while safeguarding against risks to financial stability and integrity.”

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Even Mark Cuban Isn’t Immune: CZ’s Essential Guide to Fortifying Your Crypto Assets

by Blockchain NewsSeptember 16, 2023

In a recent tweet, Changpeng Zhao (CZ), the CEO of Binance, highlighted the vulnerability of even the most seasoned crypto users, referencing the recent incident where entrepreneur Mark Cuban confirmed he was hacked for $870,000 on MetaMask. CZ emphasized the importance of security awareness and practices in the crypto space, pointing to an article he penned three years ago on Binance’s official blog.

The tweet from CZ read: “Mark Cuban Confirms Getting Hacked for $870K on MetaMask. This happens to the most experienced of crypto users. Read this article I wrote 3 years ago. There is a section about downloading software, wait 72 hrs, etc. Stay #SAFU.”

In the linked article titled “Keep Your Crypto #SAFU (CZ’s Tips)” on Binance’s blog, CZ delves deep into the nuances of crypto security. He stresses that while security is paramount, there’s a noticeable gap in security awareness among everyday users. He also notes the challenges experts face in designing user-friendly security setups that don’t compromise on robustness.

A few key takeaways from the article include:

The acknowledgment that no system is 100% secure. The goal is to make it “safe enough” based on the value of assets being protected.

The importance of understanding basic security concepts, especially when deciding between storing coins personally or on a centralized exchange.

The three primary objectives for securing coins: preventing theft, avoiding personal loss, and ensuring a method to pass them on in unforeseen circumstances.

A detailed discussion on the pros and cons of different storage methods, including personal devices, hardware wallets, and centralized exchanges.

The significance of securing one’s email account, using strong and unique passwords, and the role of two-factor authentication (2FA).

CZ’s emphasis on security comes at a time when the crypto market is buzzing with activity and attracting a new wave of participants. His insights serve as a reminder that while the crypto landscape offers immense opportunities, it also comes with its set of challenges, especially in the realm of security.

In conclusion, as the crypto community continues to grow and evolve, the importance of security cannot be overstated. Whether you’re a seasoned expert or a newcomer, staying informed and vigilant is the key to safeguarding your assets in the digital realm.

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Tagged : Crypto Assets / Cz / Mark Cuban / News

Is Character AI Safe? An In-Depth Analysis

by Blockchain NewsSeptember 16, 2023

The rise of artificial intelligence has brought forth a myriad of tools and platforms, one of which is Character AI. According to a16z, CharacterAI is ranked 2nd in the top 50 GenAI web products, trailing only ChatGPT. It’s a prominent companion platform to ChatGPT, holding approximately 21% of ChatGPT’s scale. On mobile, CharacterAI showcases strong performance, with daily active users (DAUs) comparable to ChatGPT and superior retention, as per Sensor Tower data. It falls under the “AI companions” category, which, along with content generation tools, has seen a surge in usage recently. As with any digital platform, concerns about safety, privacy, and data security are paramount. Here’s an analysis of the safety of Character AI:

What is Character.AI?

Founded by Noam Shazeer and Daniel De Freitas, Character.AI is an advanced AI-driven chatbot platform that enables users to design and engage with virtual characters, ranging from celebrities like Elon Musk to historical icons like Aristotle. Gaining popularity, especially among Gen Z, it serves as a tool for creating digital companions for diverse purposes, including entertainment, role-playing, and mental health support. The platform employs neural language models for realistic conversations, allowing users to customize characters, participate in group interactions, and provide feedback to enhance AI precision. Available freely, there’s also a premium version, c.ai+, offering superior features. Supported majorly by a16z, Character.AI has raised nearly 2 billion in funding. While it prioritizes authentic interactions, users should recognize that the AI models are continually evolving.

Safety Concerns

Chat Storage: Character AI retains chat data, enabling users to pick up conversations where they left off. This raises questions about data longevity and potential access by third parties.

Data Privacy: Character AI prioritizes user data privacy. Their privacy policy, as set by Character Technologies Inc., emphasizes the use of “commercially reasonable technical, administrative, and organizational measures” to protect user information. However, as with any online platform, there’s no absolute guarantee against potential breaches. Users should be wary of sharing sensitive personal details.

NSFW Content: The platform has a strict policy against NSFW content. Although mechanisms are in place to screen and filter inappropriate material, users, particularly the younger demographic, should exercise caution. Some individuals may attempt to bypass these safeguards, potentially exposing younger users to harmful content. Additionally, the review and filtering processes could pose risks to user data confidentiality.

Age Restriction Concerns : The platform’s policy restricts users below 13, but enforcement might not be stringent, potentially exposing younger audiences to unsuitable content.

Identity Manipulation: Character AI allows the creation of characters resembling real individuals. This poses ethical concerns about consent and potential misuse of personal data.

International Users: The privacy policy highlights that user data may be transferred to servers in the United States, which international users should be aware of.

California Privacy Rights: For California residents, the policy outlines specific rights concerning their personal information, including the right to know, request deletion, and non-discrimination.

Updates & Contact: Character AI’s privacy policy is subject to change, and users are encouraged to review it periodically. For queries, users can reach out to support.character.ai.

safety suggestions

Parental Guidance: For younger users, parental guidance is recommended. Parents should be aware of the platform’s capabilities and potential risks.

Exercise Caution with Personal Data: Users are encouraged to exercise caution when sharing information on the platform. For security reasons, it’s recommended to refrain from disclosing sensitive details such as passwords, bank account information, or other personal identifiers during conversations.

Stay Updated: As with any digital tool, it’s essential to stay updated on the platform’s terms of service, privacy policy, and any changes they might implement.

Conclusion

while Character AI offers an innovative way to interact with AI-powered characters, users should approach it with an awareness of the potential risks. As the platform continues to evolve, it’s crucial to prioritize safety and data privacy.

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Tagged : Ai / Analysis / CHARACTER AI / DANIEL DE FREITAS / IS CHARACTER AI SAFE / NOAM SHAZEER

BNB Chain Introduces Web3 Verification Tool

by Blockchain NewsSeptember 16, 2023

In a recent development, BNB Chain has taken a proactive step to combat the increasing threats posed by malicious entities in the Web3 space. On September 14, 2023, the organization announced the launch of a verification tool designed to help users identify and differentiate genuine affiliations from potential threats.

BNB Chain’s official Twitter handle, @BNBCHAIN, shared, “In an effort to fight back against bad actors in Web3, we’ve developed a simple verification tool ✅.” This tool allows users to swiftly verify the authenticity of websites, news publications, or social accounts that claim affiliation with BNB Chain. The verification tool can be accessed via this link.

Furthermore, in light of the mainnet launch of opBNB, BNB Chain has expressed concerns about the possibility of bad actors leveraging this event to propagate fake bridges, deceptive websites, and counterfeit social media profiles. They emphasized, “Bad actors in Web3 may use this occasion to promote fake bridges, scam websites, and imposter social media accounts.” To ensure users’ safety and to direct them to the legitimate opBNB bridge, BNB Chain provided the official link: opbnb-bridge.bnbchain.org/deposit. (

(Read Exclusive Interview with BNB Chain by Blockchain.News)

It’s essential for users to remain vigilant and utilize the provided verification tool to steer clear of potential threats in the ever-evolving Web3 landscape.

About BNB Chain

BNB Chain, previously known as Binance Smart Chain, represents an evolution in the blockchain ecosystem. It was introduced to underpin the global virtual ecosystem infrastructure through the concept of MetaFi. The name “BNB” stands for “Build and Build.” This rebranding was not just a name change but also an effort to draw a connection to Binance’s BNB token, which serves as the governance token for the chain. The BNB Chain is designed to be a sovereign smart contract blockchain that offers Ethereum Virtual Machine (EVM) compatible programmability. This adaptability allows it to cater to a wide range of decentralized applications and projects.

The BNB Chain has been developed with a focus on consensus mechanisms, with the BNB Beacon Chain and BNB Smart Chain validators operating on different types of consensus. One is based on a Tendermint-like consensus, while the other utilizes Proof of Stake Authority (PoSA).

Throughout its existence, BNB Chain has consistently advanced in the blockchain industry, prioritizing improvements in security, scalability, and decentralization. The launch of resources such as the Web3 security verification tool underscores their dedication to providing a secure and dependable platform for their community.

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Tagged : BNB CHAIN / News / VERIFICATION TOOL / Web3

CZ Comments on Binance US CEO’s Departure

by Blockchain NewsSeptember 16, 2023

In a tweet that recently caught the public’s eye, Binance’s founder, CZ, provided insights into the leadership changes at Binance US. He verified that Brian Shroder, who led Binance US for the last two years, is taking a break. CZ highlighted Shroder’s instrumental contributions, noting, “Under his leadership, Binance.US raised capital, enhanced its products and services, strengthened its internal operations, and captured a substantial market presence.”

Furthermore, CZ introduced the crypto community to Norman Reed, a seasoned professional with experience at the SEC, New York Fed, Ripple, and DTCC. Reed is now poised to take the reins of Binance US, especially at a time when the crypto industry is grappling with an increasingly complex regulatory environment. CZ’s confidence in Reed’s capabilities was evident as he mentioned him as “the right person to lead Binance US in this market.”

However, the leadership transition at Binance US is just the tip of the iceberg. A report from The Wall Street Journal has revealed deeper changes within the company. Following Shroder’s departure, two other top executives, Krishna Juvvadi, Head of Legal, and Sidney Majalya, Chief Risk Officer, are also making their exits. This comes amidst a significant downsizing effort by Binance US, which has seen a reduction of its staff by nearly a third.

Both Juvvadi and Majalya brought extensive experience to Binance US. Juvvadi, who joined in May 2022, previously served as the global head of compliance at Uber and was instrumental in Binance US’s communications with the SEC. Majalya, on the other hand, had roles at both Intel and Uber before joining Binance US in December 2021.

The regulatory challenges facing Binance US are mounting. The SEC’s recent actions, notably their August request to submit confidential documents to the U.S. District Court for the District of Columbia, have sparked curiosity. Some view this as an indication of a possible criminal inquiry by the Department of Justice. A May report from Bloomberg, suggesting a Justice Department investigation into Binance, adds to this conjecture.

Despite the swirling challenges and uncertainties, CZ’s message to the crypto community remains unwavering and clear: “Ignore FUD. Keep building.” His tweet serves as both a reassurance and a call to action for the industry. As the crypto landscape undergoes rapid changes, Binance US’s strategic leadership transitions underscore its determination to not only adapt but also to lead the way forward.

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Tagged : Binance.Us. / CEO / Cz / News / SEC

dYdX Founder Foresees 100x Growth in DeFi Derivatives

by Blockchain NewsSeptember 16, 2023

In a recent tweet, Antonio Juliano, the founder of dYdX, shared his vision for the future of decentralized finance (DeFi) derivatives. Antonio stated,

dYdX will lead the growth of DeFi derivatives towards the next 100x. We don’t plan to branch out to other products.

Currently, DeFi accounts for approximately 2% of the volume in crypto derivatives. However, Antonio believes this figure is set to surge. He mentioned, “I believe that [DeFi] will grow 10x+ in the next few years (as will crypto itself).” This optimistic projection underscores the potential that industry insiders see in the DeFi derivatives market.

While the tweet provides a glimpse into dYdX’s strategic focus, it also highlights the broader sentiment about the growth trajectory of the DeFi sector. With the crypto market itself poised for expansion, the emphasis on DeFi derivatives suggests a promising avenue for investors and traders in the coming years.

About dYdX

DEX dYdX was founded by Antonio Juliano, and is well-known in the DeFi (Decentralized Finance) community for its cutting-edge offerings and user-friendly design.

Users can trade, borrow, and lend cryptocurrencies on the decentralized exchange (DEX) dYdX. dYdX doesn’t rely on middlemen to facilitate trades because it runs on smart contracts on the Ethereum blockchain, unlike conventional exchanges. Users have more control over their funds thanks to this decentralized nature, which also lowers the risks related to centralized exchanges.

The availability of derivative products is one of dYdX’s distinctive features. On the platform, users can trade perpetual contracts and margin, which are financial products whose value is derived from an underlying asset like a cryptocurrency. Because of this, traders who don’t actually own the underlying asset may still benefit from price changes.

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Tagged : ANTONIO JULIANO / DeFi / Derivatives / Dydx / News

Core Scientific and Celsius Mining Settle Litigation with Texas Data Center Purchase Agreement

by Blockchain NewsSeptember 16, 2023

Core Scientific, Inc. (OTC: CORZQ), a prominent player in blockchain computing data centers and software solutions, has entered into an agreement with Celsius Mining LLC, a Bitcoin mining subsidiary of Celsius Network. The deal involves the sale of Core Scientific’s Ward County, Texas, Bitcoin mining data center site, known as “Cedarvale,” to Celsius. The two companies have also agreed to settle all ongoing litigation for a total cash consideration of $14 million.

The Cedarvale site, which is currently under development and non-operational, boasts 215 megawatts of available power. The site also includes buildings under construction, equipment, and designs essential for the facility’s completion. If the agreement receives approval, it will lead to a settlement and mutual release concerning all existing litigation between the two entities.

Adam Sullivan, CEO of Core Scientific, remarked, “We are pleased to resolve all existing litigation related to Celsius Mining.” He further emphasized the company’s dedication to enhancing its operational excellence and its plans to expand its Texas data centers.

The acquisition of the Cedarvale site is a strategic move for Celsius, setting the stage for its collaboration with Fahrenheit LLC, its previously announced Plan Sponsor. Chris Ferraro, Chief Restructuring Officer and Interim CEO of Celsius Network, stated that securing the Cedarvale site “further increases Celsius’ commitment to West Texas,” expanding their self-mining portfolio to 300 megawatts.

U.S. Data Mining Group, Inc., also known as US Bitcoin Corp (USBTC), will oversee the construction of the Cedarvale facility. USBTC, which was chosen to manage and operate Celsius’s mining assets, has also been engaged by Celsius to scale and optimize its mining business.

Asher Genoot, President and Co-Founder of USBTC, expressed satisfaction with the transaction, emphasizing its significance for NewCo’s mining division and the potential value it brings to the Celsius estate.

It’s worth noting that this transaction does not impact Core Scientific’s mining fleet. The Cedarvale site, valued mutually at $45 million, is not part of Core Scientific’s three-year roadmap, which was made public in June 2023. As of August 31, 2023, Core Scientific operated approximately 206,000 Bitcoin miners, producing 965 Bitcoin in July and 9,756 Bitcoin year-to-date, surpassing any other listed Bitcoin miner in North America.

Both Core Scientific and Celsius have filed for Chapter 11 restructuring, making the proposed agreement subject to approval in both Bankruptcy Court jurisdictions.

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Tagged : CELSIUS MINING / Core Scientific / News / PURCHASE AGREEMENT / TEXAS DATA CENTER

CFG Scale in Stable Diffusion: A Comprehensive Analysis

by Blockchain NewsSeptember 16, 2023

Introduction

The CFG Scale, standing for Classifier-Free Guidance Scale, is a pivotal parameter within the Stable Diffusion model. It dictates how closely the generated image mirrors a user’s prompt or input image. This tool acts as a fulcrum, enabling users to find the perfect balance between the image’s fidelity to the prompt and its overall quality. In short, the CFG Scale is a parameter that determines the extent to which the Stable Diffusion-generated image will adhere to your input.

Stable Diffusion: A Brief Insight

Stable Diffusion is an avant-garde, open-source text-to-image generative model. At its core, it’s designed to convert textual prompts into visual representations, bridging the gap between human imagination and AI visualization. The model operates by interpreting a given text and progressively refining a noisy image until it resonates with the described concept. Trained on vast datasets, Stable Diffusion leverages intricate algorithms to ensure that the output is not just a random image but a coherent reflection of the input prompt. Its adaptability and precision have made it a preferred choice for artists, designers, and AI enthusiasts seeking to transform abstract ideas into tangible visuals.

Decoding the CFG Scale

Balancing Fidelity and Creativity: The CFG Scale serves as a tool to strike a balance between adhering strictly to the input prompt and allowing for creative interpretations. When set to a higher value, the generated image remains faithful to the user’s input, mirroring it closely. On the other hand, a lower value provides the model with more creative freedom, potentially producing imaginative results that might diverge from the original prompt.

Operational Dynamics: Stable Diffusion’s methodology involves transforming a noisy image into a coherent artwork, operating under the premise that an obscured artwork lies beneath. This transformation is a step-by-step refinement, with the CFG Scale determining the influence of the text description at each juncture.

Value Spectrum: While the ideal CFG Scale value oscillates between 7 and 11 for optimal results with minimal noise, it’s not set in stone. The precise value can fluctuate based on user preferences and prompt intricacy.

Navigating the CFG Scale

Platform Selection: Platforms like DreamStudio, Lexica, and Playground AI are equipped to harness the capabilities of Stable Diffusion.

Prompt Initialization: Post login, users are prompted to input their desired text. This serves as the foundational concept the AI strives to visualize.

CFG Scale Calibration: Within platforms such as DreamStudio and Playground AI, the CFG Scale adjustment option is typically located on the right. Users can tweak this to their preference.

Image Synthesis: With the CFG value in place, users can command the platform to commence image generation, often via buttons labeled “Dream” or “Generate.”

Refinement: The CFG value isn’t immutable. Users are encouraged to play around with different values to pinpoint the one that resonates best with their vision. Once content, the final image can be procured.

Key Considerations

Quality & Fidelity Interplay: The CFG Scale value and the resultant image’s adherence to the prompt are directly correlated. However, the image’s quality shares an inverse relationship with the CFG Scale value.

Model Discrepancies: Different models might interpret CFG Scale adjustments uniquely. While some might lean towards abstraction with a diminished CFG Scale, others might necessitate an elevated CFG Scale for prompt consistency.

Treading Carefully: The CFG Scale’s versatility is a double-edged sword. Maxing out the scale could lead to pixelated outcomes, whereas minimizing it might result in the AI overlooking the prompt.

Conclusion

The CFG Scale in Stable Diffusion empowers users, granting them nuanced control over their image generation journey. Mastery over the CFG Scale ensures a harmonious blend of image fidelity and quality, allowing users to craft outputs that align seamlessly with their vision.

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Tagged : CFG SCALE / STABLE DIFFUSION / Wiki