AI will revolutionize payments and make the bank of the future💥 DeFi works for foreign exchange of CBDC😱 How to manage generative AI....or it will manage you! 🚀
AI will revolutionize payments and make the bank of the future💥 DeFi works for foreign exchange of CBDC😱 How to manage generative AI....or it will manage you! 🚀
A small startup in uganda www.clic.world has been building cross boarder and CBDC like solutions for years to deaf ears we are finally going live this quarter with one bank in Kenya and Uganda. All this excitement is old news but just confirms that the global investment ecosystem is missing out. The problems we are fixing in Africa are leapfrog problems just like digital payments we call Mobile money is only now coming to the west. Our hold back is colonial inherited legislation and international containment rules masked as AML.
Hi Badru! Sorry for the delay. I was on holiday and swamped. Yes many small startups across the world have worked on cross-border transfers. Mobile carriers have picked up the most successful, most simply fail. I congratulate you and your team for going live.
Because CBDCs are national currencies they have scale behind them. This is why I don't see this as "old news." They represent nation wide solutions rather than those limited to your mobile operator or bank. As far as AML goes, I agree this is a major hinderance for many solutions.
Only few will be lucky. And those lucky ones will be bought out very soon. Their good will be turned into bad and applied on a broader scale. The outlook is rather grave.
Until now, not even the comparatively simple problems with SPAM emails and propaganda BOTs on social media is solved. The Twitter-Files have shown us a glimpse of the evil use that actually happened and that did have global impact. But the bot-account problem is not even solved with twitter/X. And that is technologically rather simple. But none, not even Musk can solve it, being the owner of that X-monster. And people like Zuckerberg do not have the least intention to solve it, they rather produce more of it. I have seen too much of the Dilbert-style nonsense in the real world in order to believe in a good outcome. This system will simply destroy itself, and AI will be very helpful in this. Generative AI is trained with the sick stuff out there on the net. So, what do we expect? As it was said in the beginning of the computer age: Garbage in, garbage out.
We know that Bitcoin wastes the energy, which is the equivalent of the consumption of Denmark. Therefore, it should be shut down immediately. But do we control it in any way? No!
Anyway, nice move of Gartner to mention the energy problem. But, does anybody care? No!
If the power mongers would care about energy or environment at all, there would be no such thing as depleted uranium ammunition or wars like in Ukraine where they do their very best in order to heat up the planet with the enormous energy discharge of all those explosives. They do not even try to count it! Under such an evil rule, AI can not possibly do any good. People are not sane enough in general. Last Generation terrorists want to do good but create only misery, because they are severely sick in their minds. Generative AI can only amplify that which is there. It can not bootstrap us out of our own shit. As well, one could hope for aliens to supply us mystical technologies
Hi Manorainjan, great comment I confess that there is a lot in there for me to comment on. In the main, I share your cynicism, which is the over riding sentiment in your writing.
I agree that AI won't be tamed or controlled, because we can't even tame things like SPAM or Bots which have been with us for years!
As to energy use. Here again it is very complicated when BTC fans say that energy vampire BTC is actually a green solution. Kind of an up is down and down is up situation. So yes I agree with AI most people simply don't care. That said, it will impact the cost of AI services. Someone has to pay the electric bill.
A small startup in uganda www.clic.world has been building cross boarder and CBDC like solutions for years to deaf ears we are finally going live this quarter with one bank in Kenya and Uganda. All this excitement is old news but just confirms that the global investment ecosystem is missing out. The problems we are fixing in Africa are leapfrog problems just like digital payments we call Mobile money is only now coming to the west. Our hold back is colonial inherited legislation and international containment rules masked as AML.
Hi Badru! Sorry for the delay. I was on holiday and swamped. Yes many small startups across the world have worked on cross-border transfers. Mobile carriers have picked up the most successful, most simply fail. I congratulate you and your team for going live.
Because CBDCs are national currencies they have scale behind them. This is why I don't see this as "old news." They represent nation wide solutions rather than those limited to your mobile operator or bank. As far as AML goes, I agree this is a major hinderance for many solutions.
On "How to manage Generative AI"
Only few will be lucky. And those lucky ones will be bought out very soon. Their good will be turned into bad and applied on a broader scale. The outlook is rather grave.
Until now, not even the comparatively simple problems with SPAM emails and propaganda BOTs on social media is solved. The Twitter-Files have shown us a glimpse of the evil use that actually happened and that did have global impact. But the bot-account problem is not even solved with twitter/X. And that is technologically rather simple. But none, not even Musk can solve it, being the owner of that X-monster. And people like Zuckerberg do not have the least intention to solve it, they rather produce more of it. I have seen too much of the Dilbert-style nonsense in the real world in order to believe in a good outcome. This system will simply destroy itself, and AI will be very helpful in this. Generative AI is trained with the sick stuff out there on the net. So, what do we expect? As it was said in the beginning of the computer age: Garbage in, garbage out.
We know that Bitcoin wastes the energy, which is the equivalent of the consumption of Denmark. Therefore, it should be shut down immediately. But do we control it in any way? No!
Anyway, nice move of Gartner to mention the energy problem. But, does anybody care? No!
If the power mongers would care about energy or environment at all, there would be no such thing as depleted uranium ammunition or wars like in Ukraine where they do their very best in order to heat up the planet with the enormous energy discharge of all those explosives. They do not even try to count it! Under such an evil rule, AI can not possibly do any good. People are not sane enough in general. Last Generation terrorists want to do good but create only misery, because they are severely sick in their minds. Generative AI can only amplify that which is there. It can not bootstrap us out of our own shit. As well, one could hope for aliens to supply us mystical technologies
https://en.wikipedia.org/wiki/The_Sorcerer%27s_Apprentice
or even better, pray to God directly.
But: https://www.youtube.com/watch?v=k1g8WCA7mJk
Unfortunately, the world has missed its opportunity to listen to Peter Sloterdijk in 1997
https://de.wikipedia.org/wiki/Regeln_f%C3%BCr_den_Menschenpark
And he was already 20 years late with this warning!
Hi Manorainjan, great comment I confess that there is a lot in there for me to comment on. In the main, I share your cynicism, which is the over riding sentiment in your writing.
I agree that AI won't be tamed or controlled, because we can't even tame things like SPAM or Bots which have been with us for years!
As to energy use. Here again it is very complicated when BTC fans say that energy vampire BTC is actually a green solution. Kind of an up is down and down is up situation. So yes I agree with AI most people simply don't care. That said, it will impact the cost of AI services. Someone has to pay the electric bill.