On July 12, according to Arkham Intelligence data, the German government completed the sale of its Bitcoin reserves, transferring the last 3,846 BTCs to "Flow Traders and 139Po," identified as institutional/OTC deposit services. This transaction followed weeks of intense sales, during which the government liquidated a total of 50,000 Bitcoins, derived mainly from an asset seizure linked to Movie2K, a film piracy site.

Impact on the Bitcoin market

The massive sale by the German government exerted considerable pressure on the market, keeping the price of Bitcoin below $60,000 and influencing its exponential moving average to 200 days. However, despite pressure to sell, institutional investors took advantage of the downturn. CoinShares reported inflows of $295 million into US exchange-traded funds (ETFs) in the week of July 8, reversing a trend of reduced inflows.

Analysis of future perspectives

The future of the Bitcoin market is now under the shadow of Mt. Gox’s repayment schedule, which could introduce additional sales pressure. Mt. Gox, an exchange that collapsed in 2014, is planning to return $8.2 billion in Bitcoin to its creditors. Analysts are divided on the impact this move will have on the market. Jacob King predicts that investors could sell up to 99% of Bitcoins received, while Tony Sycamore of IG Markets believes that the effect could be limited, as the market has already priced this news.

German sales and the market reaction

Despite initial fears, the Bitcoin market has shown remarkable resilience. After Germany’s final transfers, the price of Bitcoin underwent significant fluctuations, but showed signs of recovery. On June 24, the price dropped from $64,000 to less than $59,000, before suffering a further drop to $54,000 between July 3 and July 5. However, after the completion of German sales, the price rose above $60,000.

Final reflections

The German government’s mass sale represented one of the largest Bitcoin liquidations on the market, influencing investor sentiment and the price of Bitcoin. German legislator Joana Cotar criticized the decision, arguing for the adoption of Bitcoin as a strategic reserve currency. In addition, the liquidations have fueled concerns among users, highlighted by critical messages and trolling on Germany’s public wallet.

With the sale completed, the focus now shifts to Mt. Gox and the potential impact of its refunds. The Bitcoin market, although currently under pressure, has shown remarkable resilience, leaving investors to look carefully at future developments.

During the EthCC event in Brussels, Filecoin and SingularityNET announced a strategic collaboration to revolutionize the integration between the Decentralized Physical Infrastructure Network (DePin) and artificial intelligence (AI). This partnership aims to build a digital hub that challenges the dominance of large technology companies, while promoting decentralization and transparency.

Objectives of cooperation

The synergy between Filecoin and SingularityNET aims to create a decentralized and secure data network that offers a robust alternative to the currently dominant centralized models. Filecoin, renowned for its cloud data storage system, and SingularityNET, a leading platform in AI, will combine their technologies to develop innovative solutions in the field of data management and analysis.
Support of Other Strategic Partners

The collaboration also extends to other major organizations such as Theoriq, Bagel and Nuklai. These entities are working with Filecoin to improve their cryptographic infrastructure and expand data storage capabilities. Theoriq, for example, is developing AI agents over the Filecoin network to make crypto data more accessible, while Bagel leverages Filecoin’s computing power to support the development of advanced AI models. Nuklai is creating a collaborative data market, using Filecoin to facilitate secure data storage.

Promotion of methanol and discussion on nuclear energy

During the event, the use of methanol as an alternative fuel was also discussed, highlighting its high energy density and ease of management. Bernhard Urban of Lurssen explained that methanol is promising for recreational boating due to its safety and storage capacity. In addition, the potential of nuclear energy for yachts has been explored, although its practical application requires further research and development due to costs and safety issues, as pointed out by Ronno Schouten of Feadship.

A network of crypto industry collaborations

Filecoin and SingularityNET are not alone in this initiative. Projects such as Fetch.ai and Ocean Protocol have joined SingularityNET to form the Artificial Superintelligence Alliance, an alliance that aims to promote decentralized AI technologies. This group aims to counter the influence of large technology companies such as Google and Microsoft, offering an open and transparent alternative.

Ethics of Artificial Intelligence

A crucial element of the partnership is the commitment to AI ethics. The collaboration involves the creation of a working group to ensure ethical development of AI technologies. Ben Goertzel, founder of SingularityNET, stressed the importance of minimising bias in AI models and directing the use of artificial intelligence towards beneficial applications for society.

SOURCE: Cryptonomist

In early July, a significant Bitcoin correction seemed to have dampened expectations of a new upswing in the cryptocurrency market. However, recent positive signs and encouraging macroeconomic data could change this scenario.

Forecast for Bitcoin and Altcoin

Among the most optimistic figures is JPMorgan. Although the institute revised its 2024 capital inflows forecast from $12 billion to $8 billion, it remains confident that Bitcoin and other cryptocurrencies will recover, as reported by Beincrypto.

JPMorgan claims that if Bitcoin can recover the crucial psychological support of $60,000 in the coming weeks, the altcoins could also see a significant recovery, similar to what happened in the second half of 2023. A key indicator for initiating the altcoin season would be a 75% over-performance of the top 50 altcoin compared to Bitcoin by August.

Recovery hopes

Despite the negative climate, some players in the altcoin market see signs of a possible turnaround. Prominent projects such as Celestia (TIA) and Optimism (OP) have seen significant rebounds, suggesting that a wider recovery may be on the horizon in the coming months.

How are the Investors

At present, however, the achievement of these objectives seems distant. Over the past 90 days (today is 07/12/2024 ndr), 70% of major altcoins have performed less than Bitcoin. The only exceptions include:

which have shown increased resilience.

In addition, the Crypto Fear and Greed Index, down to 25 points in the "extreme fear" zone, highlights a marked pessimism among investors. Bitcoin’s response to the ICC post-data downturn was not considered sufficient, and the failure to regain the $60,000 support further intensified the pessimism in the community.

10 Best Altcoins in June 2024 by Forbes

Before this July chapter, Forbes ranked the top 10 altcoins in June 2024. Here is the list with the respective market capitalizations.

The Crypto Gateway

The usual Samsung Unpacked event was held, in which the company presented many novelties in the field of folding smartphones, smartwatches and the brand new Galaxy Ring. But the protagonist of the event was undoubtedly artificial intelligence.

New features for Galaxy AI

The new version of Galaxy AI maintains all the previous features seen on the Samsung Galaxy S24, adding innovations that further enhance the AI component in devices. Among the functions already known, we find Live Translation, Interpreter (also usable with compatible earphones), Circle and Search (which now includes the live translation mode), Notes Assistant, Transcription Assistant and a suite of photo editing tools much appreciated by industry professionals.

One of the main novelties of Galaxy AI is the availability of these features even for third-party apps, no longer exclusive to those developed by Samsung. In addition, Galaxy AI integrates Gemini, making it easier to recall the AI assistant from the smartphone screen and within individual applications. Users can now take advantage of this tool for writing, scheduling tasks and much more.

Innovations in Samsung Notes and the AI keyboard

Samsung Notes becomes a real smart assistant, able to transcribe and summarize audio directly from the app, do live translations, set text formatting and take notes. Samsung’s keyboard is also powered by AI with the Composer feature, which helps users generate texts for email or social networks. This feature analyzes the user’s profile and his tone of voice to create posts and messages consistent with the personal style.

Improvements for the camera compartment

Galaxy AI also improves the camera compartment, helping the smartphone to recognize the framed subjects and follow them in their movements. These innovations make it easier to take professional-quality shots and videos.

The main functions of Galaxy AI

Dissemination and compatibility

According to Tm Roh, president of Samsung’s Mobile Experience division, by the end of 2024 Galaxy AI will be available on about 200 million devices worldwide. The new features will be compatible with Android 14 and the One UI 6.1 user interface. Devices ready to receive these features include all models of the Samsung Galaxy S23 series, Samsung Galaxy Z Fold5, Samsung Galaxy Z Flip5 and all tablets of the Galaxy Tab S9 series.

The European Union's AI Act is a pioneering effort to regulate artificial intelligence, ensuring it aligns with fundamental rights, safety, and ethical standards. This Act emphasizes that AI should benefit humanity and avoid harm, a principle supported by Italian economist Mario Draghi. It mandates that AI development and use prioritize human benefit and safety.

Comprehensive regulation for safe and ethical AI development

Proposed by the European Commission on April 21, 2021, and passed by the European Parliament on March 13, 2024, the Act received unanimous EU Council approval on May 21, 2024. It applies to AI systems, within and outside the EU, categorizing AI applications into four risk categories: unacceptable, high, limited, and minimal risk, with additional rules for general-purpose AI. Unacceptable risk systems, such as those used for social scoring, are banned, while high-risk systems must meet stringent requirements. Limited-risk systems have transparency obligations and minimal-risk systems are largely unregulated.

The Act excludes AI used for military, national security, research, or non-professional purposes and prohibits real-time remote biometric identification and social scoring, with specific exceptions. It targets industries like transportation, healthcare, and climate change, where AI can enhance safety, efficiency, and sustainability. The legislation distinguishes between AI providers (developers) and deployers (users), imposing different obligations on each to ensure compliance and safety.

Unlocking market opportunities and sustainable growth through the EU AI Act

The AI Act offers significant market opportunities, particularly in the EU, which values transparency, safety, and respect for fundamental rights. Compliance with the Act can enhance corporate competitiveness and consumer trust, fostering an environment of innovation. It reduces administrative and financial burdens, especially for SMEs, aligning with global optimism towards AI as a catalyst for economic development, particularly in the Global South.

Efficiency gains from AI must align with broader sustainability and compliance goals, considering the well-being of the workforce and adhering to environmental, social, and governance (ESG) standards. AI can optimize energy use and reduce emissions, enhancing long-term viability and market positioning. Ensuring that AI-driven efficiencies do not compromise compliance or human well-being is crucial for sustainable productivity growth.

SOURCE: full article drafted by Boies Schiller Flexner Italy available here: EU AI ACT: How far are we from becoming full-fledged Blade Runner?

On May 15, 2024, the Italian stage of Reply Xchange 2024 kicked off in Milan, at the Superstudio Più in via Tortona. This annual event, organized by the Italian multinational Reply, is a reference point for the technology sector, bringing together over five thousand participants among customers, partners and professionals. This year’s edition stands out for its cutting-edge innovations in the fields of Affective Computing, Artificial Intelligence (AI) and Generative Artificial Intelligence (Genai), to show how these technologies are revolutionizing various industries.

Affective Computing: the revolution of digital humans

One of the most significant innovations presented at Reply Xchange 2024 is Affective Computing, a field that deals with the development of systems capable of recognizing, processing and simulating human emotions. This technology has applications that go far beyond entertainment, allowing the creation of incredibly realistic "digital humans". An emblematic example is Ameca, a humanoid robot capable of reproducing a wide range of human expressions thanks to over 800 facial engines. Ameca represents a step forward in the simulation of human behavior, potentially revolutionizing the interaction between man and machine.

Artificial intelligence and GenAI solutions

The solutions of AI and Genai were other protagonists of the event. These technologies are designed to meet a wide range of business needs, from production to marketing, sales support and training. But their applications do not stop there. Reply has developed advanced systems to address critical social challenges such as work and road safety, as well as cyber protection.

Road safety and distraction detection

One of the most impressive innovations concerns the safety systems for cars. These systems are able to identify a driver distraction in a fraction of a second, analyzing the driving style and detecting warning signals such as the use of the mobile phone or abnormal movements of the eyes and pupils. This technology could significantly reduce the number of road accidents, improving safety for all road users.

Creativity and Generative AI

Reply Xchange has also explored the potential of generative artificial intelligence, which is transforming the world of creativity. Concrete examples include the production of songs and short films entirely made with Genai, demonstrating how these technologies can be used to create original and innovative content.

The future of artificial intelligence

Filippo Rizzante, chief technology officer at Reply, stressed that artificial intelligence is affecting every aspect of software and the physical world. " Objects become smarter and smarter, both fixed and mobile infrastructure such as robots," Rizzante said. This statement reflects the explosion of new technologies that we are experiencing, comparable in scope and impact to the first era of the Internet.

The next steps of Reply Xchange 2024

After Milan, Reply Xchange 2024 will continue its journey, with stops in Munich and London on June 4th. These events will allow you to continue exploring and discussing the latest technological trends, offering a unique platform for innovation and international collaboration.

In 2015, Google Glass exploded like meteors, special smart glasses able to take pictures, shoot videos with cameras implanted in frames, make and receive calls and much more. The IT giant project didn’t take off. There would have been a new attempt in August 2022, but privacy issues have set it back once again. In the market, with time, have appeared, however, other models. Among these those that have been most successful are the signature of Ray-Ban with the collaboration of Meta, Essilor Luxottica and the integration of artificial intelligence OpenAI. But recent investigations have shown that competition could be wider.

The Google experience with smart glasses

In August 2022, Google began a new phase of testing its smart glasses for augmented reality. For the new Google glasses the code name is "Project Iris" and, unlike the classic headset we are used to, these glasses will look like a classic frame, but that inside its lenses contains cameras and a microphone for audio.According to rumors, the tests took place in selected areas of the United States and on a small number of people.

Google has illustrated some operations that these glasses offer, among them very interesting is the ability to show those who wear these glasses subtitles in another language directly through the lenses in real time.The tests should have lasted two years and the product should have been put on the market in 2024. First in March 2023 and then in June 2023 the company announced that it had abandoned all projects related to smart glasses.

The privacy problem

The reasons would seem to be mainly two. The first related to poor sales, the second to concerns from users regarding the privacy of people filmed by these cameras.

Google tried to reassure everyone, but without too much success. The IT giant has therefore abandoned the idea of smart glasses, but has not stopped working within the reality increases. It would be in fact in the pipeline to propose an ad hoc operating system for hardware manufacturers that can make the AR work with Android. In addition, a project in collaboration with Samsung and Qualcomm for the realization of a visor for mixed reality would be underway.

Perspectives and competitions in the world of smart glasses

And just Qualcomm would be working on a model of smart glasses simpler that give priority to audio interaction. It is instead throwing on the mixed reality Apple with the new headset can show holograms in 3D.

But those who seem to believe more in smart glasses and be later in the project seem to be Meta, with Ray-Ban and Essilor Luxottica. Over the next decade, Mark Zuckerberg, reports the Financial Times, predicts an evolution towards a convergence between smart glasses and more immersive VR headsets, highlighting a gradual shift towards artificial intelligence-centered development.

The big IT giants are trying to launch in this market, but it is not yet known if they will succeed and if the future of immersive reality will be dictated by smart glasses.

SOURCES: Financial Times

The New York Times, one of the pillars of information in the United States, has cast a strong shadow on the Generative Artificial Intelligence (AI) community by taking a firm stand against the use of its content to train artificial intelligence models. According to The Verge, the newspaper blocked OpenAI’s web crawler access to its content on August 17. This act of restriction prevents OpenAI from using The New York Times material to improve its AI.

After these actions, the newspaper also initiated legal action against OpenAI for alleged copyright infringement. But it wouldn't have stopped there. The lawsuit, in fact, would have also targeted the computing giant Microsoft. Pending the legal verdict, the newspaper has also recently amended its terms of service to explicitly prohibit the use of its content to train artificial intelligence models.

The stance of the New York Times

According to the New York Times, the Chatbots of the two big tech companies compete with the newspaper as a reliable source of information. The newspaper is seeking compensation from the Southern District Court of New York, demanding a ban on technology companies using its content and the destruction of the data set related to media work.

"The journalism of the Times is the work of thousands of journalists, whose use costs hundreds of millions of dollars a year" - reads the complaint - "spend the billions of dollars that the Times has invested in the creation of that work, using it without permission or compensation".

Authors against Open AI

With this action, the New York Times would join other authors who have already sued OpenAI for the use of copyrighted data, including Books3 content, used to train ChatGPT. Same thing for Matthew Butterick, programmer and lawyer, who accuses OpenAI of data scraping practices similar to software piracy.

SOURCE: La Stampa, Tgcom24


December 1, 2023: Boies Schiller Flexner today announced that the firm has opened an office in Rome, with Natalia Bagnato and Simone Grassi joining as partners.

The Rome office is the firm’s second within the European Union and arrives two years after the firm launched BSF Italy in Milan. The addition of partners Natalia Bagnato and Simone Grassi, along with three associates, strengthens the firm’s capabilities in handling complex commercial disputes, advising high-net-worth individuals, and providing ESG-related services.

“As the nation’s capital, Rome provides important access to government institutions in Italy that are critical to foreign investors and multinational companies doing business or investing in Italy,” said Italian co-administrative partner Luigi M. Macioce. “Our goal is to become the go-to firm for those types of clients. Adding a Roman presence to our established and growing Milan office gives us a clear advantage in being ‘closer,’ not only to our clients’ international businesses but also to the interests of family offices, estates, and high-net-worth individuals who are looking more and more to establish an Italian presence or grow their existing one.”

Italian co-administrative partner Alessia Allegretti added “Natalia and Simone reflect the kind of opportunistic, organic growth we hope to maintain. Their combined experience strengthens our offering for high-net-worth individuals and international companies with interests in Italy on issues involving complex disputes and ESG, which has rapidly become a crucial factor in international transactions and business challenges and where we anticipate playing a leading role in the market.” Natalia’s practice focuses on the full spectrum of ESG issues, including sustainable finance, reporting, compliance, and integration of ESG factors into corporate governance. She led the ESG team at her previous firm. Simone advises both private clients and businesses on civil and commercial disputes. He also assists prominent Italian families on trust and estate planning and

litigation. In addition to the two partners, Guido M. Tancredi, Andrea Preziosi and Marianna Peroni will join the firm as associates.

“When we launched BSF Italy, we were focused on two goals: creating a clear pathway into the EU for the firm’s clients post-Brexit and collaborating with our Italian colleagues to provide U.S. and cross-border disputes support for clients,” said Managing Partners Sigrid McCawley, Matthew L. Schwartz, and Alan Vickery. “The new Rome office demonstrates the success we’ve had in Italy and represents the next step in expanding our international platform to meet client demand. We’re thrilled to welcome Natalia and Simone to the firm.”

“We approach ESG-related issues with our clients by aiming to become a strategic partner to investors and multinational companies, working with them to implement ESG policies and achieve market best practices across their operations, because that ultimately drives greater value for their businesses. I look forward to partnering with my U.S. and U.K. colleagues, who are doing important work in this area,” said Natalia Bagnato.

“As a litigator, I feel privileged to join one of the most recognized global litigation powerhouses, and I look forward to building on that reputation. I am confident that the opportunity to work together with my U.S. and U.K. colleagues on increasingly sophisticated and complex cross-border litigation will bring even more value to the firm’s current and potential clients,” said Simone Grassi.

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