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Why Bitcoin-Related And Ethereum-Related Stocks Are Rising – Yahoo Finance

Shares of crypto-related stocks, including Marathon Digital Holdings Inc (NASDAQ: MARA), Riot Blockchain Inc (NASDAQ: RIOT) and Coinbase Global Inc (NASDAQ: COIN) are trading higher amid an increase in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Bitcoin is trading higher by 3.7% at $48,800.

Ethereum is trading higher by 7.5% at $3,700.

Marathon Digital focuses on mining digital assets. It owns crypto-currency mining machines and a data center to mine digital assets. The company operates in the digital currency blockchain segment and its cryptocurrency machines are located in Canada.

Marathon Digital is trading higher by 5.1% at $42.65.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The company's portfolio consists of Verady, Tesspay, Coinsquare and others.

Riot Blockchain is trading higher by 2.2% at $38.13.

Coinbase is a provider of end-to-end financial infrastructure and technology for the crypto-economy.

Coinbase is trading higher by 4.3% at $270.20.

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As Global Inflation Heats Up, Bitcoin Saves The Day – Bitcoin Magazine

The world is breathing a sigh of relief as things normalize after Covid-19 pandemic devastation. Governments are lifting lockdowns, restrictions are being relaxed, and the economy is slowly returning to a semblance of normality. As a result, consumer spending is on the rise.

In April, CNBC reported that the Consumer Price Inflation in the U.S. increased 4.2% from the previous year. Additionally, in June, the consumer price index increased 5.4% from last year, the sharpest jump since the 2008 Global Financial Crisis. Excluding energy and food, the core CPI increased by 4.5, the biggest jump since 1991.

Now, the big question is, what is causing the high inflation?

The Federal Reserve has resorted to flooding the economy with dollars to curb inflation. According to Forbes, the M2 money supply in April 2021 was $20.11 trillion, representing a 30% increase since January 2020. Too many dollars in the system reduces the currency value.

In addition, there is pent-up demand more money going after fewer products that exacerbates the inflation problem. Remember, when the COVID-19 pandemic hit, some manufacturing plants were closed while others downsized their operation. As a result, the market has exhausted its stockpiles. Similarly, the demand for air tickets is up again.

Manufacturers are working against time to match the demand. For instance, the pandemic affected car production. As a result, the cost of used cars and trucks is higher than ever before. The point is, a limited supply of goods, coupled with the expansion of dollars in the economy leads to inflation.

The real rate of inflation is a growing concern especially among economic policymakers. While the whole discussion could be confusing to the masses, it is of critical importance. The next course of action could result in an economic slowdown, an increase in mortgage rates, and high volatility of stock prices. For these reasons, incoming economic data will be critical for financial analysts, policymakers, and economists.

According to AP News, Federal Reserve chairman Jerome Powell argues that the inflation spike is transitory, caused by the reopening economy after the pandemic. While the Federal Reserve maintains the inflation rate will average above 2% and move down after that, many economic experts hold a different view.

According to Bank of America strategist, Michael Harnett inflation could rise by up to 4% and persist longer than the Fed reported. David Roche, president of the investment firm Independent Strategy, holds a similar view. He said inflation could hit 3-4% in mid-2022. This could cause a crisis in the financial market and the U.S. economy at large.

According to the thinkers, Fed measurement tools aren't in line with consumer spending. In other words, the inflation experienced by consumers is understated. Once the consumers start feeling the effects, they are likely to push for higher wages, starting a vicious inflation circle.

The inflation in the U.S. will not spare other countries. High inflation will make the U.S. dollar more attractive against other countries. Therefore, these countries will likely experience capital outflow as investors seek high returns. The result will be market volatility, slow economic growth, and a high-interest rate.

This means countries with dollar-denominated loans will have it rough paying back their loans. In the worst-case scenario, some countries could experience a recession. Needless to say, the whole world is watching, and they want to see how far this goes.

Inflation fears are apparent with economic contraction and government stimulus increasing the global money supply. Bitcoin has positioned itself as a perfect hedge against inflation. Unlike fiat currency, bitcoin is not regulated by the central bank. Additionally, it has a finite supply of 21 million units. This is unlike fiat currency which can be printed in large, as is happening in the United States.

The decentralized nature of bitcoin makes it a perfect store of value. In addition, bitcoin proponents believe the price of virtual currency could increase as investors run from vulnerable conventional financial systems. Therefore, Bitcoin can act as a safe haven for investors.

A good hedge against inflation is an asset that increases its value over time. Bitcoin has withstood the harsh effects of the Covid-19 pandemic with relative ease. It was trading at around $5000 when the Coronavirus was recognised as a global pandemic. Nevertheless, in the last 52 weeks, bitcoin has increased 235% and many analysts that focus on predicting Bitcoin prices went this year as far as to predict that BTC will yet hit the $100,000 mark by the end of Q4 2021.

Inflation has increased over the same period, and while according to Trading Economics U.S. inflation rates data the inflation at first was only 2.6% in March, it swiftly increased in April with CPI hitting 4.2%, 5% in May and finally 5.4% in June. This time bitcoin was proliferating, responding well to inflation.

Therefore, investors who turned to bitcoin to hedge against inflation are smiling. We have seen institutional adoption of the cryptocurrency from companies that see massive potential in bitcoin growth.

Bitcoin is also an excellent hedge against the social disruption and political instability that result from inflation. For instance, runaway inflation leads to increased uncertainty, poverty, and a lack of trust in institutions. Zimbabwe, Argentina, and Venezuela are just some of the examples. While these cases are unlikely in developed countries, it is better to be safe than sorry. Remember, Venezuela was in the past one of the richest countries in the world and look how they are doing now from an economical standpoint. Therefore, using bitcoin as a hedge against instability, broken payment systems, and control by the government is a prudent move.

Usually, rising interest rates is one of the ways to curb inflation. However, many current economies are debt-ridden. Therefore, this move could have the opposite effect. As a result, the inflation rate could continue to rise even as the interest rates increase.

Luckily, bitcoin trading is majorly based on U.S. dollars. Therefore, as the dollar value reduces, there is no good reason why the BTC/USD pair should not continue to increase. In addition, the decentralized nature of the Bitcoin network and the fact that it runs on technology created by anonymous individuals giving no central point of failure or attack, make bitcoin an excellent investment asset. It is not restricted to conventional economics.

Bitcoin is quite safe in the current world environment where old ideas vanish, and new ideas take roots. Moreover, with changing politics and economics, bitcoin is a good hedge against the possibility of a crazy future.

The global nature and limited supply of bitcoin make it an excellent hedge against inflation. It is not controlled by any government or financial institutions. Therefore, it is not prone to economic measures that lead to inflation such as increasing currency supply through printing. In fact, the price proliferation of bitcoin as inflation increased during the Covid-19 pandemic, is enough evidence of its massive potential as a hedge against inflation. Suffice it to say, the cryptocurrency has positioned itself as a safe haven for investors with the rising inflation.

This is a guest post by Jerry Goddard. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.

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Twitter to enable receiving tips in Bitcoin – Moneycontrol.com

Twitter rolled out the tip jar feature in May through a number of payment gateways like Bandcamp, Patreon, PayPal, Venmo and Cash App

September 06, 2021 / 12:43 PM IST

Twitter is working to add Bitcoin transactions for its Tip Jar which enables content creators to monetize their content.

Twitters product lead Kayvon Beykpour confirmed the development after a user called Alessandro Paluzzi posted a screenshot showing how the users will be allowed to receive tips through Bitcoin. While Beykpour didnt elaborate on the subject, Paluzzis screenshot signals that Twitter is considering The Lightning Network, a payment transfer technology for tips in Bitcoin.

The microblogging platforms rolled out the tip jar feature in May through a number of payment gateways like Bandcamp, Patreon, PayPal, Venmo, and Cash App. It has also added an Indian payment gateway Razorpay for the same.

To send someone money, simply go to the persons profile, click on the tip jar icon, select from the available modes of payment and complete your payment. Twitter has also made it clear that the company takes no cut from the amount you send or receive.

While Tip Jar appears as an icon on iOS and Android, the feature is also accessible within Spaces on Android only.

Twitter CEO Jack Dorsey has time and again displayed his enthusiasm for cryptocurrencies. He had hailed Bitcoin saying it changes everything for the better while retweeting CFO of Square Amrita Ahuja's post reiterating the company's Bitcoin strategy.

Dorsey in February had put out the word that he and rap mogul Jay-Z were creating a fund devoted to making bitcoin digital money "the internet's currency." Dorsey, who is also the founder and chief of financial services and mobile payments firm Square, said in a tweet that he and Jay-Z are giving 500 bitcoin to fund an independent endowment called "Btrust."

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Scammers Offer Free Bitcoin on Hacked Government Site in Russia as Crypto Fraud Surges Bitcoin News – Bitcoin News

Unknown scammers have organized a fake bitcoin giveaway through a Russian government website they hacked. The news of the attack comes after a recent report revealed that damages from crypto-related fraud in Russia have reached $30 million in value in the first half of this year.

The main website of the local administration in the Russian city of Ryazan, around 200 km southeast of Moscow, has been targeted by hackers twice in a single day, Rzn.info reported quoted by the crypto news outlet Forklog. The unidentified attackers published an ad offering cryptocurrency to those who download a special application.

The scammers initially promised to send 0.025 to every visitor who installed the app. They later changed the offer to a prize of $1,000 in bitcoin for each of five randomly chosen participants in what was advertised as the Ryazani online lottery. Both ads have already disappeared from the mayoral site but the local news outlet published a screenshot of one of the ads.

The volume of cryptocurrency-related fraud around the world has increased significantly in 2021. In the first half of the year, losses amounted to an estimated $1.5 billion, which is two to three times more than the total registered during the same period of last year, experts from the IT security company Zecurion told the Russian daily Izvestia.

According to the report published earlier this week, the Russian Federation accounts for 2% of the global amount some $30 million, or almost 2.2 billion rubles. Analysts believe the main reasons for the spike stem from the growing exposure of users to digital assets as well as the desire to make quick profits in an expanding sector with limited regulations, amid volatility in the traditional financial markets. They also expect crypto fraud to continue to rise this year leading up to a 15% annual increase.

In July, the Central Bank of Russia (CBR) announced it had identified 146 financial pyramid schemes in the first six months of the year. The number is 1.5 times higher in comparison with the same period of 2020. Fraudsters often lure people with weak financial literacy into investment scams linked to cryptocurrencies or crypto mining, the regulator said. The CBR attributed the surge to the increasing activity of unfair market participants and investment demand in Russia.

Blockchain forensics firm Chainalysis revealed this week that crypto addresses based in Eastern Europe have sent $815 million of digital currency to scams in a single year. Over half of the money transferred to scam addresses from the region went to the Russia-based Ponzi scheme Finiko. The pyramid was targeting crypto holders in Russian-speaking populations in the former Soviet space with promises of 30% monthly returns before it collapsed in July.

Do you agree with experts expectations that crypto-related fraud will continue to increase this year? Share your thoughts on the subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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This One Fundamental Factor Separates Bitcoin From All Other Crypto Assets, According to Macro Strategist L… – The Daily Hodl

Macro investment strategist Lyn Alden says that one fundamental factor sets Bitcoin apart from all other digital assets.

Alden tells Peter McCormack on the What Bitcoin Did podcast that Bitcoin is one of a kind due to its network effect, or the phenomenon where the number of users directly contributes to the value of the network.

Alden highlights Bitcoins network effects by illustrating how copying Wikipedia will not result in replicating the traffic generated by the original site.

I could copy Wikipedia I could post Wikipedia on my website and the question is, Would I get anywhere near the traffic that Wikipedia gets? Of course, the answer is no I can copy all the texts thats there, but I cant copy the network effect. Specifically, I cannot copy the millions and millions of links around the internet pointing to the real Wikipedia. And I cant copy the active user base that constantly updates Wikipedia.

Bitcoin has that network effect.

The analyst also gives insight on how the Lightning Network, a layer 2 payment product built on top of BTC, will further enhance Bitcoins already-bolstered network effects.

The years of liquidity and nodes that make that network very usabletake a long time to develop. Its harder to do than another DeFi project or a blockchain.

And so BTC now has multiple layers of network effects built on top of it. The security is higher. The development is more secure, and theres features being built on top of it. Overall, thats what separates Bitcoin from other tokens, and its mainly why we view that one as money and everything else [as], at best, equity or at worst, a scam, compared to Bitcoin itself.

I

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Crypto Exchange Binance Ceases Trading in Singapore Dollars to Comply With Regulations Regulation Bitcoin News – Bitcoin News

Cryptocurrency exchange Binance has announced that it will cease offering trading pairs and payment options in Singapore dollars to remain compliant with the countrys regulators. The announcement followed a notice issued by the Monetary Authority of Singapore (MAS) stating that Binance may be in breach of the Payment Services Act.

Crypto exchange Binance announced Sunday changes to its services in Singapore. The company wrote that to remain compliant with local regulators, it will cease offering SGD trading pairs and SGD payment options on Friday, Sept. 10.

Binance will also remove its app from Singapore iOS and Google Play stores. SGD trading pairs will also be removed from Binance P2P Friday.

The exchange further advised users to complete all related P2P trades and remove all related advertisements by Sept. 9 to avoid potential trading disputes. Moreover, Binance clarified that it is not operating any official Telegram or online communication channels in Singapore.

Our aim is to create a sustainable ecosystem around blockchain technology and digital assets, Binance commented, elaborating:

Binance welcomes developments to our industrys regulatory framework as they pose opportunities for the market players to have greater collaboration with the regulators.

The announcement to cease trading in Singapore dollars followed a notice by Singapores central bank, the Monetary Authority of Singapore (MAS), which oversees the crypto industry in the country.

MAS said Thursday that it had reviewed Binance.coms operations and is of the view that Binance, the operator of Binance.com, may be in breach of the Payment Services Act. The central bank added that Binance is required to cease providing payment services to Singapore residents and cease soliciting such business from Singapore residents.

Last week, Binance said it hired Richard Teng, former CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM) as the new CEO for its operations in Singapore. Binance aims to become a leader in regulatory compliance as it pivots into a financial services company.

The global crypto exchange recently became the focus of many other regulators worldwide, including those in the U.K., Netherlands, Thailand, Malaysia, Japan, Germany, Hong Kong, Lithuania, and South Africa. They claimed Binance had been operating without authorization in their jurisdictions.

What do you think about Binance ceasing trading in Singapore dollars? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Jordan Peterson should be the 2022 commencement speaker – Hillsdale Collegian

Jordan Peterson. Courtesy | GoogleCommons.

The senior class should invite Jordan Peterson to deliver the colleges commencement address inMay.

For a school that studies the classic tradition while fighting for freedom in modern politics, Peterson is an excellentfit.

A public intellectual and clinical psychologist, he speaks on eternal truths and classic texts, and applies their lessons to todays controversies. A New Yorker article called Peterson the most influentialand polarizingpublic intellectuals in the English-speaking world.

Peterson came to public attention in 2016 when he opposed an amendment to Canadas criminal code that added gender identity as a protected category. Peterson argued that the change would criminalize a persons refusal to use they/them pronouns and ultimately push Canada toward tyrannya concept he has studied foryears.

Ive studied authoritarianism for a very long timefor 40 yearsand theyre started by peoples attempts to control the ideological and linguistic territory, he told the BBC in2016.

He stands strongly against cultural insanity while not becoming an ordinary talking head on a nightly shout show. He has spoken out against the sexual revolution and transgender radicalism while defending family values andtradition.

Since entering the spotlight, Peterson has captivated audiences everywhere. He has written two best-selling books on life improvement and traveled across the world speaking to thousands of people on ideas like responsibility anddiscipline.

Adopt responsibility for your own well-being, Peterson said in a video. Try to put your family together, try to serve your community, try to seek for eternal truth thats the sort of thing that can ground you in your life, enough so that you can withstand the difficulty oflife.

Self-responsibility is a core theme of Petersons messagepractically identical to the principle of self-government this college holdsclosely.

Almost all the meaning that you will need to get you through the hard times of your life is going to be a consequence of adopting responsibility, he said in onelecture.

But theres another reason to invite Peterson to campus. We have the unique opportunity to teach one of the worlds leading intellectuals alesson.

Peterson has spoken out about the decline of the university countless times. The crackdowns on free speech, the decreased diversity of thought, and increased reliance on feelings and identity are among hiscomplaints.

At a 2019 Heritage Foundation event, Peterson said what universities fundamentally manage to achieve is leaving studentsdefeated.

What people are being taught, Peterson said referring to the modern university, is of no utility as a guiding light to anyone. And its a catastrophe to take young people in their formative yearsand to tear the substructure out from underneaththem.

Peterson spends hours on podcasts lamenting the failure of modern education. On his Aug. 2 podcast he talks to seven guests about their experiences on American campuses, including a North Korean defector who said her time at Columbia University made her very pessimistic about the Westernworld.

Hillsdale College should show him an example of a successful collegeone that pursues truth, encourages diversity of thought, and stands firmly against the race-obsessed and emotionally-charged curriculums ruining most institutions.

He will see, in Hillsdale, an example of education done right. He will finally have an example to point to of an intellectually serious and open-minded college.

What he says matters and when he talks, millionslisten.

In a time of disillusionment and turmoil, Peterson speaks to the sanity and truth we crave. We should invite him to send us off into theworld.

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Candace Owens debates Russell Brand – The Global Herald – The Global Herald

Russell Brand published this video item, entitled Candace Owens debates Russell Brand below is their description.

Candace Owens and I go head to head here in this excerpt from my Under the Skin Episode (Will It Go Left Or Right? Candace Owens & Russell Brand). In this Candace Owens Interview, we debate the pros & cons of The Left and The Right and an attempt to negotiate when utopia might look like.

If you want to watch the full Candace Owens podcast then click the link below I highly suggest you watch the full interview:

This is a short excerpt from my podcast Under the Skin. Click below to listen to my luminary original podcast and hear from guests including Candace Owens, Jordan Peterson, Edward Snowden, Jonathan Haidt, Naomi Klein, Kehinde Andrews, Adam Curtis and Vandana Shiva.

Subscribe to Luminary at http://apple.co/russell

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Data, Algorithms and Artificial" Intelligence: What Is The Problem? – The Costa Rica News

Data, algorithms and artificial intelligence (AI) are topics with a constant presence in many regions of the world in debates that range from futuristic technologies such as autonomous vehicles, to everyday applications that negatively affect our communities. As feminist, anti-capitalist and anti-racist activists, we must understand the implications and policies of these technologies, as in many cases they accentuate inequalities related to wealth and power and reproduce racial and gender discrimination.

Data, algorithms and artificial intelligence occupy more and more space in our lives, although, in general, we are hardly aware of their existence. Its impacts, at times, can be equally invisible, but they are related to all our struggles for a more just world. Access to these technologies is uneven, and the balance is increasingly tilting toward powerful institutions such as the Armed Forces, the police, and businesses.

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Only a few private agents have the computational capacity to run the most robust AI models, so even universities depend on them for their research. As for data, we produce it every day, sometimes consciously, sometimes just keeping our smartphones with oneself all the time without even using them.

A few years ago, the Facebook-Cambridge Analytica scandal made headlines, using data to influence votes and elections in the UK and US. Generally, we only learned this from whistleblowers. [1], since there is a total lack of transparency around the algorithms and the data inserted in them, which makes it difficult to understand their impact. Some examples help us understand how these technologies and the way they are implemented change decision-making methods, worsen working conditions, intensify inequality and oppression and even damage the environment.

Automated decision making (ADM) systems use data and algorithms to make decisions on behalf of humans. They are changing not only how decisions are made, but also where and by whom. In some cases, they shift decision-making from public space to private spaces, or effectively place control over public space in the hands of private companies.

Some insurers have implemented ADM and AI technologies to determine the legitimacy of claims notices. According to them, this is a more efficient and profitable way to make these decisions. But, often, information about what data is used and what criteria are applied to these determinations is not made available to the public because it is considered a trade secret of a company.

In some cases, insurers even use data to forecast risks and calculate rates based on expected behaviors, which is just a new way of affecting the principle of solidarity, which is the basis of group insurance, and accentuating neoliberal and individualistic principles.

Furthermore, these models use data from the past to predict future outcomes, which makes them inherently conservative and predisposed to reproduce or even intensify forms of discrimination suffered in the past. Although they do not use race directly as identifiable data, indicators such as ZIP codes generally serve the same purpose, and these AI models tend to discriminate against racialized communities.

Not only private companies, but also governments have AI systems in place to provide services more efficiently and detect fraud which is usually synonymous with cost reduction. Chile is among the countries that have started a program to use AI to manage healthcare, reduce waiting times, and make treatment decisions. Critics of the program fear that the system will cause harm by perpetuating prejudices based on race, ethnicity or country of origin and gender.

Argentina developed a model in collaboration with Microsoft to prevent school dropouts and early pregnancy. Based on information such as neighborhood, ethnicity, country of origin or hot water supply, an algorithm predicts which girls are most likely to get pregnant, and based on that, the government directs services. But, in fact, the government is using this technology to avoid having to implement extensive sexuality education, which, incidentally, does not enter the models calculations for predicting teenage pregnancy.

Under the banner of Smart Cities, city governments are handing over entire neighborhoods to private companies for experimentation with technologies. Sidewalk Labs, a subsidiary of Alphabet (the company that owns Google), wanted to develop a neighborhood in Toronto, Canada, and collect massive amounts of data on residents to, among other things, predict their movements in order to regulate traffic. The company even had plans to apply its own taxes and control some public services. If it werent for the activists who mobilized against this project, the government would have simply handed over the public space to one of the largest and most powerful private companies in the world.

Putting decision-making power over public space in the hands of private companies is not the only problem for initiatives such as Smart Cities. An example from India shows that they too tend to create large-scale surveillance mechanisms. Lucknow City Police recently announced a plan to use cameras and facial recognition technology (FRT) to identify expressions of distress on womens faces.

Under the guise of combating violence against women, several cities in India have spent exorbitant amounts of money to implement surveillance systems, money that could have been invested in community-led projects to combat gender-based violence.

Rather than address the root of the problem, the government perpetuates patriarchal norms by creating surveillance regimes. Additionally, facial recognition technology has been shown to be significantly less accurate for non-cis white men, and emotion-sensing technology is considered highly flawed.

AI is causing heightened surveillance in many areas of life in many countries, but especially in liberal democracies: from monitoring software that monitors students during online exams to what is known as smart surveillance, which tends to intensify surveillance of already marginalized communities.

A good example of this is body cameras, which have been heralded as solutions to combat police brutality and serve as an argument against demands for budget cuts or even abolition of the police. From a feminist perspective, it should be noted that surveillance technologies not only exist in the public space, but also play an increasingly important role in domestic violence.

Law enforcement authorities also create gang databases that generate further discrimination in racialized communities. It is well known that private data mining companies such as Palantir or Amazon support immigration agencies in the deportation of undocumented immigrants. AI is used to foresee crimes that will occur and who will commit them. Because these models are based on past crime and criminal record data, they are highly skewed toward racialized communities. Furthermore, in fact, they can contribute to crime rather than prevent it.

Another example of how these AI surveillance systems support white supremacy and heterosexual patriarchy is airport security systems. Black women, Sikh men [3] and Muslim women are more frequently targeted by invasive inquiries. And because these models and technologies enforce cisnormativity, trans and non-binary people are identified as divergent and are inspected.

Surveillance technologies are not only used by the police, immigration agencies and the military. It is increasingly common for companies to monitor their employees using AI. As in any other context, surveillance technologies in the workplace reinforce existing discrimination and power disparities.

This development may have started within the big platform and big data companies [4], but the fastest growing sector, data capitalism imposes new working conditions not only on the workers of the sector its scope is even greater. Probably the best-known example of this type of surveillance is Amazon, where employed people are constantly monitored and if their productivity rates continually fall below expectations, they are automatically fired.

Other examples include the clothing retail sector, where tasks such as organizing merchandise for the demonstration are now decided by algorithms, depriving working people of their autonomy. Black people and other racialized people, especially women, are more likely to hold low-paid and unstable jobs and are therefore often the most affected by this dehumanization of work. Platform companies like Amazon or Uber, with the support of huge amounts of applied capital, not only change their industries, but also manage to impose changes in the legislation that weaken the protection of workers and affect entire economies.

Thats what they did in California, claiming that the change would create better opportunities for racialized working women. However, a recent study concluded that this change actually legalized racial subordination.

So far we have seen that AI and algorithms contribute to power disparities, shift decision-making sites from public space to non-transparent private companies, and intensify the harms inherent in racist, capitalist, heteropatriarchal, and cisnormative systems. Furthermore, these technologies frequently attempt to give the impression that they are fully automated, when in reality they rely on a large amount of cheap labor.

And, when fully automated, they are capable of consuming absurd amounts of energy, as demonstrated in the case of some language processing models. Bringing these facts to light cost the employment of leading researchers. The strategies of activists to resist these technologies and / or give visibility to the damage caused by them

In general, the first step in these strategies is to understand the damages that can result and to document where the technologies are being applied. The Our Data Bodies project produced the Digital Defense Playbook, a material aimed at raising public awareness of how communities are affected by data-driven technologies.

The No la Ma IA [Not My AI] platform, for example, has been mapping biased and disruptive projects in Latin America. The group Organizers Warning Notification and Information for Tenants OWN-IT!] Built a data bank in Los Angeles to help tenants against rent increases. In response to predictive policing technology, activists created the White Collar Crime Risk Zone Map to anticipate where in the US financial crime is most likely to occur.

Some people have decided to stop using certain tools, such as the Google or Facebook search engine, thus refusing to provide even more data to these companies. They argue that the problem is not individual data, but the dataset used to restructure environments that extract more from us in the form of data and labor, and that are becoming less and less transparent.

Another strategy is data obfuscation or masking: activists created plug-ins that randomly click on Google ads or randomly like Facebook pages to fool algorithms. There are also ways to prevent AI from recognizing faces in photos and using them to train algorithms. The Oracle for Transfeminist Technologies presents a totally different approach, a deck that invites the exercise of collective imagination for a different technology.

Indigenous people living on Turtle Island (US and Canada) are already very familiar with surveillance and with the collection of large volumes of data about them that are used against them. From this experience, they created approaches to First Nations data sovereignty: principles related to data collection, access, and ownership to prevent further harm and enable First Nations, Mtis, and Inuit [ 5] benefit from their own data.

AI, algorithms, and data-driven technologies arent just troublesome privacy issues. Much more is at stake. As we organize our struggles, we most likely use data-producing technologies for companies that profit from data capitalism. We need to be aware of the implications of this, the damage these technologies cause and how to resist them so that our mobilizations are successful.

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Artificial Intelligence and the Gods Behind the Masks – WIRED

Why dont you go join them? asked Ozioma. Showing up behind Amaka on the balcony, the landlady lit an English-brand cigarette, leaned against the railings, and peered down.

I used to be the dance queen of our village, Ozioma went on, her eyes hazy with nostalgia. Not trying to brag here, but not a single boy could take his eyes off me. My father hated when I danced, though. He threatened to hit me every time he caught me dancing.

Did you listen to him?

Ozioma laughed heartily. Why on earth would a child give up what they love because their parents said no? Eventually, I found a way that could allow me to at least finish the dance.

What was it? asked Amaka.

I would wear an Agbogho Mmuo every time I danced.

What? Amakas eyes widened. The Agbogho Mmuo was the sacred mask of northern Igbo, representing maiden spirits as well as the mother of all living creation.

See, my father had your exact expression when he saw me with the mask. He had no choice but to bow down, to show his respect to the mask and the goddess it embodies. Of course, after I was done with the dance, with the mask stripped off, I would get my share of scolding, said Ozioma, beaming with pride, as if the memory had temporarily brought her back to the days when she was a young girl.

Upon hearing Oziomas story, Amaka felt an idea, blurry and shapeless, darting across his mind like a fish. He scrunched up his face, thinking. The mask

Yes, child. The mask is where my power came from.

Strip off the mask? Strip off the mask, murmured Amaka.

All of a sudden, he leapt to his feet and kissed Ozioma on the cheek. Thank you, oh thank you, my dance queen! He dashed back to his room, leaving behind the hustle and bustle of the parade and a very confused Ozioma.

Maybe spinning a lie and putting it in FAKAs mouth wont make his followers abandon their idol, Amaka told Chi via video chat that afternoon, excited with his new discovery. But stripping off its mask and revealing the hidden puppet master might.

No one knows who the puppet master is, though, Chi replied.

Exactly! Amaka beamed. Cant you see? It means that the puppet master can be anyone.

So, youre suggesting that

I can strip off FAKAs mask and make him any person you want him to be.

Chi fell silent in the video chat.

Youre a fucking genius, Chi finally muttered.

Ndewo, Amaka said, preparing to sign off.

Wait, Chi looked up. It means that you need to create a face that exists in reality.

Yes.

A face that can fool all the anti-fake detectors, added Chi, musing. Think about the color distortion, the noise pattern, the compression rate variation, the blink frequency, the biosignal is it doable?

I need time, said Amaka. And unlimited cloud AI computing power.

Ill get back to you. Chi logged off.

Amaka gazed at his own reflection in the dimming monitor screen. The adrenaline rush that had initially washed over him had faded. He saw on his face not excitement, but exhaustion and an unsettled feeling, as if he had betrayed a guardian spirit watching from above.

In theory anyone could fake a perfect image or video, at least well enough to fool the existing anti-fake detectors. The problem was the costcomputing power.

Fakes and their detectors were engaged in an eternal battle, like Eros and Thanatos. Amaka had his work cut out for him, but he was determined to succeed in achieving his singular goal: the creation of a real, human face.

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Artificial Intelligence and the Gods Behind the Masks - WIRED

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