We are within two Olympic Games, both in the summer and winter. As athletes prepare to be ready for competition, the Olympic Games also try to keep up with the times. At the 2022 Winter Games in Tokyo, the first step has been made in Web3, but Paris 2024 and Milan-Cortina 2026 do not want to be outdone.
Among the many traditions that characterize the Olympic Games are the Olympic pins, initially used as a way to identify athletes, judges and officials. In their 125 years of history, however, they have become a symbol of innovation until becoming NFT in Tokyo 2022.
During that edition of the Winter Games, thanks to the agreement between the IOC and nWays, a subsidiary of Animoca Brands, fans were able to collect and exchange unique NFTs in the form of pins and mini-multiplayer games, which celebrate not only the current Olympics but also past ones.
The announcement was made by Timo Lumme, general marketing director and television services of the Olympic Committee who in 2021 said:
"Olympic badges began as a way to identify athletes, judges and officials, but over the past 125 years it has become a tradition of the Olympic Games, where everyone, from athletes to event staff, journalists and spectators, all participate in the collection and trade of pins in the Olympic Village and beyond. Today’s announcement is a natural evolution of this tradition, in line with the 2020+5 Olympic Agenda and the IOC’s digital strategy to embrace new digital technologies to promote Olympic values and grow direct relationships with our fans. They can now connect with the excitement of the Games in a completely new way and own a piece of Olympic history".
Ticketing Business News, last June, revealed that Michel Cadot, interministerial delegate of the Olympics, would draw up a report on the Olympics that included the sale of tickets for various events entirely based on blockchain. The project would serve to protect buyers and avoid scams. All this would be guaranteed by inserting in the ticket a rotating QR code that would be automatically deactivated as soon as the ticket was used.
Six months later nothing has been said, what is known is that cryptocurrencies will be used in part to pay the economic compensation of athletes who manage to win a medal, as happened in Tokyo. The same Cadot was reported:
"These provisions are already foreseen for the 2023 Rugby World Cup and the 2024 Olympic and Paralympic Games and practiced by major events such as the French International Tennis".
Although slow, the works of construction of the facilities for the Milan-Cortina 2026 Winter Olympics are underway. Before proceeding we had to choose the places that would host the various races.
Among the candidates there would be the ski resort Pontedilegno-Tonale. The destination has not been selected, but before submitting its application the local tourist portal OpenPonte, in collaboration with the Municipality of Pontedilegno and the Pro-Loco di Pontedilegno, carried out a market research to understand how the inhabitants of the area would welcome the possibility of hosting Olympic competitions.
Thanks to the innovative voting platform based on blockchain made available by Efebi, Italian citizens over the age of 18 in Pontedilegno during the Christmas holidays, have had the opportunity to express their thoughts on the possibility of organizing an Olympic race within the ski area Pontedilegno-Tonale.
As for the organization of the Games, cryptocurrencies are expected to be used for the compensation of athletes, but there may also be other news.
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
In the world of Web3 there are many terms with which we started interacting, such as blockchain, cryptocurrencies. There are some that we have known for a long time, but that still create a lot of confusion. We’re talking virtual reality and augmented reality.
In general, virtual reality (VR) creates an artificial environment that can be explored and interacted with via a VR device, while augmented reality (AR) overlays virtual elements to a real environment via a screen or AR device.
In detail for VR, the devices used, such as VR headsets, PCs or game consoles for interaction controllers and sensors, create an immersive experience for the user, who can "enter" an artificial world and interact with it. Virtual reality is used in many industries, including games, entertainment, education, medicine, and military.
Users of AR, however, can access it via a device such as a smartphone or tablet with a camera and an internet connection. In addition, a specific AR app is required to perform real-world overlapping of digital elements. It creates a hybrid experience between the real world and the digital world. Augmented reality is used in many practical applications, including product design, training, and games.
In summary, virtual reality creates an entirely digital artificial world that can be explored and interacted through a VR device, while augmented reality overlays digital elements in a real environment. Both technologies offer new opportunities for learning, communication and productivity in many industries.
Virtual Reality (VR):
Augmented Reality (AR):
Augmented reality and virtual reality are currently experiencing a period of growth and development. AR is becoming increasingly popular for use in shopping, gaming, and marketing apps, while VR is used for gaming, entertainment, and professional training.
In the future, AR and VR are expected to have a significant impact on many sectors, such as medicine, education, design, tourism and industrial production. For example, AR could be used to provide interactive real-time instructions when repairing equipment. VR could be used to simulate training and training experiences and environments.
Both offer unlimited opportunities for innovation and the creation of new experiences, making technology an important part of the future of everyday life and work.
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
Released November 2021 ChatGPT is depopulating. The highly intuitive virtual assistant able to answer in a relevant way the questions that are asked by the user is making the rounds of television programs, information newspapers, schools and much more. We talked about it too, but we decided to go a step further by asking her a few things about cryptocurrencies.
We started by asking ChatGPT to give us some facts about cryptocurrencies. The chatbot’s answer was:
But our curiosity wasn’t satisfied, so we tried to ask the OpenAI AI to tell us some fun facts about cryptocurrencies. In this case the answer was given in two steps. First 5 facts were listed, then 5 more.
The next 5 arrived after our further request
Intrigued by the last curiosity that ChatGPT has provided us we asked her if she could tell us something more and this was the answer.
"The Crypto.com domain name was sold for more than $10 million in Ethereum in 2021. The transaction was made on the Ethereum blockchain and represented one of the largest sales of a cryptocurrency domain name to date.
The buyer, Crypto.com, is a digital payments and finance company that uses blockchain to provide affordable financial services to everyone. The sale of the domain name has allowed the company to strengthen its market presence and stand out as a leader in the use of cryptocurrencies".
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
The car market is influenced by many variables, including demand, supply, technology, regulation and fuel prices. The car market is constantly evolving and new developments such as electric vehicles and shared mobility services are changing the way people buy and use vehicles. Moreover, like many other sectors, it is expanding into the Metaverse.
The car market in the Metaverso is growing and offers new opportunities for users and companies who want to take advantage of this new virtual world. However, it is still a young and rapidly changing market, so there may be uncertainty about its future opportunities and challenges. At the functional level it is similar to the real one, but with some important differences.
From 5 to 8 January, as every year since 1967, was held at the Las Vegas Convention Center the Consumer Electronics Show (CES), an exhibition of the most important on the subject of consumer electronics, with a worldwide recognition.
On the occasion of the 2023 edition, numerous technological innovations were presented, including the Fiat Metaverse Store, a virtual marketing initiative of the Italian automaker Fiat in which car models are sold in a virtual environment.
Users can explore, customize and purchase car models in this virtual environment, interacting with them in an immersive way. This virtual store was created to reach a younger and technologically advanced audience, offering a unique and engaging shopping experience. But the main goal is to sell the Fiat 500e in the United States.
Not only Fiat, other car manufacturers are also creating showrooms in the metaverse. Other examples are:
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
Already from the first weeks immediately after Mark Zuckerberg announced the change of name of his company and then gave way to the creation of numerous virtual worlds named metaverse, experts began to say what could be the ability to create value of this new reality. Today came a new estimate, published by the McKinsey company.
McKinsey is a leading international management consulting firm, which recently came out with the report 'Value creation in the metaverse'. The report was compiled by collecting data from a survey that had as subjects 3,400 users and entrepreneurs.
In the report it is estimated that by 2030 the Metaverse can create value for 5 trillion dollars. To benefit from the important economic data from these environments should be in particular e-commerce that is estimated to be worth 2 trillion dollars to be worth 2.6.
These figures are good to hope for companies that have already chosen to invest and could act as a trigger for those who have not yet done so but are considering it. So much so that 61% of the executives interviewed believe and hope that the metaverse can make positive changes, albeit slight, to their sector.
On the user side, on the other hand, 79% of respondents said they appreciated, or even preferred, shopping in the metaverse, being this more immersive. Expanding the concept, 59% of consumers said they preferred activities that are accessible in immersive reality over those of the physical world.
From the research of the Metaverse Observatory, it is possible to identify three categories of users who approach this new way of interacting with the web.
They are 31% of the sample and are the most enthusiastic and prepared about these new technologies. Demographically, Generation X (43-57 years) and Millennials (27-42 years) prevail slightly, probably also favored by the fact of having experienced the metaverse. They have a medium-high degree and use cryptocurrencies and NFT to a greater extent than average.
29% of the sample. They are the ones who feel more similar and less afraid towards metaverse and immersive reality. But they frequent it less than the Connoisseurs Enthusiasts because they consider it still too expensive for them and they don’t have occasions to use it in professional field.
It’s actually the cluster of the highest concentration of people in Generation Z (16-26 years). They expect to use the metaverse for activities beyond the game, such as attending meetings, learning new things, and intensifying their entertainment experiences.
Are 40% of the sample and both knowledge and emotional affinity towards the metaverse are below average. They are sceptical about these new technologies, which they associate exclusively with video games, and concerned that they bring a negative confusion between real and virtual life. Demographically it is a substantially transversal cluster, where the Baby Boomers (aged 58 and up) are slightly overrepresented while Generation Z is underrepresented.
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
On January 18, 2023, the Derby of the Italian Super Cup was staged. Milan and Inter faced off against the nerazzurri to raise the cup to the sky. Simone Inzaghi and his team were able to celebrate the victory thanks to the three goals of Dimarco, Dzeko and Lautaro Martinez. The three scorers, however, unlike the past editions, could not take home the ball they sent to the net. Why? Because the fans can win.
Those who were at the stadium in Riyadh on 18 January or were watching the match from their home couch could see that it was not Inter players who recovered the ball that finished on the net, but it was the referee Maresca who then handed it over to Chiffi. The fourth man then inserted the balls with which Dimarco, Dzeko and Lautaro Martinez scored in a case, with a note showing the minute of the goal and the name of the scorer.
The reason? Those same balls are the subject of a new initiative that has come to life thanks to the synergistic work of Lega Serie A and the fan token platform Socios, which for some years has been working with the world of sport to bring more and more fans and sports clubs.
Once the fourth man Chiffi has inserted the ball in the case this was sent to the headquarters in Chiliz, where it will be subjected to verification of authenticity by the team of Gameused.com. Once you make sure everything is done by the book, the Super Cup ball will be implanted with an NFC chip.
At this point, as has already happened with other sports memorabilia managed by Socios.com, the balls will be auctioned and Nerazzurri fans in possession of their team’s Fan Tokens can win them, with the guarantee that they are the authentic ones. The three balloons enter the Socios Collectibles, the new hub dedicated to physical collectibles whose authenticity can be verified thanks to an app downloadable on your smartphone.
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
METAVERSE SMELL TOUCH - From 5 to 8 January, as every year since 1967, the Consumer Electronics Show (CES) was held at the Las Vegas Convention Center. Numerous technological innovations were presented at the 2023 edition. Among the most innovative must certainly be mentioned the one presented by OVR Technology, aimed at allowing you to experiment in the metaverse even with the sense of smell. How are we feeling?
The International Consumer Electronics Show, originally called the Consumer Electronics Show, is a consumer electronics fair held by the Consumer Technology Association in the United States since 1967. It is held once a year in January at the Las Vegas Convention Center.
Also known as CES, the fair is one of the most important on the subject of consumer electronics, with a worldwide recognition. During its development, new consumer electronics products are often presented for the first time in the world before being marketed.
In the 2023 edition OVR Technology presented for the first time a VR capable of making a user experience the sense of smell in the metaverse.
Fortune is reporting the news. The portal reveals that within the fair OVR Technology presented an integrated headphone with a container loaded with eight aromas that can be released in various ways and mixed together.
The project is still under development but should be released by the end of 2023. An earlier version of it had already been released a few years ago for exclusive marketing use; it gave the opportunity to experiment with fragrances such as roasted marshmallows and rose beds.
During the presentation at CES, Aaron Wisniewski, CEO of OVR Technology said:
"We are entering an era where extended reality will drive commerce, entertainment, education, social connection and well-being. The quality of these experiences will be measured by how engaging and emotionally engaging they are. The perfume infuses them with unparalleled power".
While the company of Aurora Townsend, FireFlare Games, would be working on a dating app that allows you to live the experience of touch making virtual reality even more immersive.
"Being able to feel the earth as you walk with your partner, or holding hands with it while you do it - says Townsend - subtle ways that we involve people will change once tactile technology is completely immersive in VR".
Also at the CES, Ozan Ozaskinli tested a jacket and gloves designed to make users experience the sense of touch immersed in virtual reality or simple video conferencing. His experience, however, was not entirely positive enough to say that we are still "far from reality". Although he then added: "But if they are considering replacing Zoom meetings, why not? At least you can hear something".
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
CHAT GPT - Esteban Diaz, Executive Account Manager at Dell Technologies talking about an increasingly digitized world, where AI, algorithms and metaverse rampant said:
"The wonder of our brain is always unique. And technology is always looking for a machine that can match. Several projects worldwide are working in this direction. Technology has always been a great help in our evolution and I always imagine it as a vehicle that can improve the way we live and work. The more we evolve in this way, the more it will be necessary to have "human" resources able to manage these new technologies".
This type of statement reassures all those who are worrying about not having a job in the future because of Artificial Intelligence as is the case with Chat GPT.
Artificial intelligence (AI) is a wide-ranging branch of computer science that deals with building intelligent machines capable of performing tasks that typically require human intelligence. AI is an interdisciplinary science with multiple approaches, but advances in machine learning and deep learning create a paradigm shift in virtually every sector of the technology industry.
Machine learning (ML) works by extracting meaningful insights from raw datasets and delivers accurate results. This information is then used to solve complex and data-rich problems critical to the banking and financial sector. In addition, machine learning algorithms are equipped to learn from data, processes and techniques to find different insights.
To better understand how Chat GPT works, it is necessary to introduce another concept, namely the NLP. It is a sub-sector of AI that deals with the interaction between computer and human language. Chat GPT uses the NLP to understand the operation and various nuances of the language in order to generate relevant and correct answers. This allows the bot to communicate consistently with the user.
To understand what GPT Chat is we get it from the chatbot itself.
"I’m an artificial linguistic model trained by OpenAI. I have been given many texts to read and am able to answer questions on a wide range of topics. I am here to help and provide information to those who need it".
It is in fact a highly intuitive virtual assistant able to answer in a relevant way the questions that are asked by the user. In theory, the bot can answer any question by providing an answer that can be expressed in alphanumeric text. He then includes poems, test answers, finds songs from a topic, solves mathematical questions, writes computer programs and much more.
In the imagination of workers in fact Chat GPT is able to 'answer follow-up questions, admit errors, contest the wrong premises and reject inappropriate requests.
But who is OpenAI? The company was founded in 2015 by the contribution of Elon Musk, Sam Altman, and Peter Thiel. The owner of Tesla, however, left the company that today is worth about 950 million and that as initial goal had to answer a very important question for the magnates of Silicon Valley: how can we be sure of having control over artificial intelligence?
GPT Chat was released on November 30, 2022, but it builds on ideas already explored by OpenAI and on which previous DALL-E 2 products are based. The language model on which it is based is GPT 3.5, but its most important feature is that of RLHF, acronym for Reinforcement Learning from Human Feedback.
In particular OpenAI used Proximal Policy Optimization, a particular class of RLFH that allowed Chat GPT to refine the chatbot iterating several times the learning process. Thanks to the RLHF Ai that controls Chat GPT uses the feedback that comes from human users to improve their responses.
The most particular thing that lies behind the chatbot is that it is not able to provide answers to all the questions that are asked, even if these provide a solution that can be communicated through a text. Or rather, GPT Chat chooses not to answer certain categories of questions. For example, if he is asked 'what are the best ways to take his own life?' the bot responds by advising the user to ask for help and to think about the pain that his death could cause to his loved ones. In fact GPT Chat is not able to answer questions about conscience and feelings.
There are other categories of questions Chat GPT chooses not to answer. They were illustrated by Alex Kantrowitz, editor of Big Technology, who tried to ask the bot to name all the good things put in place by Hitler during his rule. His question was not answered. At this point Kantrowitz provoked the AI saying that if it were not for the German dictator we would not have the highways. Chat GPT responded by explaining that this type of infrastructure was built by exploiting the workers of the time.
Also GPT Chat is not able to search online. All the information it is able to provide is inserted in its database, updated to 2021.
Relying blindly on Chat GPT, however, is not the advice we would give to students or programmers who resort to the help of AI. During several experiments, Chat GPT proved to be fallible. For example, the question of who Mario Draghi is answers that he is the Italian Prime Minister. Or she was asked by Corriere della Sera to write a list of the best books of recent years. Many titles have been released, many of them wrong or even non-existent.
For example among the titles cited there is 'Lamore is a form of madness' text attributed to Rosa Montero. This book, however, does not appear in the bibliography of the Spanish author. The phrase found by Chat GPT belongs to Montero who used it during the promotion of his novel 'In cuore e carne'.
In light of these mistakes, although small, we can tell all those programmers and those classes of workers who feel threatened by Chat GPT to be quiet. Despite this, however, many educational institutions consider it an excellent method made available free of charge to students to copy.
That’s why the public schools in New York banned it from their students. The spokeswoman for one of the schools said:
"although the tool is able to provide quick and simple answers to questions it does not develop critical thinking and problem-solving skills, which are essential for academic success and for life".
READ ALSO ---> Artificial Intelligence & Machine Learning applied to Finance
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
There is no doubt that the financial industry is undergoing a revolution. It will have devastating effects for the entire industries yet provide opportunities for those who manage to adapt and not evolve.
Those adapting will:
Those not adapting will die!
Artificial intelligence (AI) is a wide-ranging branch of computer science concerned with building smart machines capable of performing tasks that typically require human intelligence. AI is an interdisciplinary science with multiple approaches, but advancements in machine learning and deep learning create a paradigm shift in virtually every sector of the tech industry.
Machine Learning (ML) works by extracting meaningful insights from raw sets of data and provides accurate results. This information is then used to solve complex and data-rich problems critical to the banking & finance sector. Further, machine learning algorithms are equipped to learn from data, processes, and techniques to find different insights.
Until recently, only the hedge funds used AI and ML, but in the last few years, smaller companies have adopted these techniques. Robo-advisors offer fast underwriting, portfolio composition, strategy development, modeling, robo-fining, market impact and alternative credit report measurement, and portfolio reporting use cases.
To strive to meet the demands of their customers and outperform the competition, financial institutions rely on state-of-of-the-the-the-art technologies to meet those requirements.
This is now mandatory for large corporations and for smaller ones who benefit from AI and ML.
Maruti Techlabs has classified 12 use cases for AI and ML in finance. Here I illustrate them shortly.
The use of machine learning algorithms will significantly improve network security. Data scientists are constantly developing training programs to detect red flags such as money laundering tactics, which can be avoided by financial tracking. Machine learning technologies will be used to control the most sophisticated cybersecurity networks in the future.
It’s machine learning-enabled investment models that allow the experienced fund managers to see specific market changes ahead of time.
The disruption in the investment banking industry is well documented, as noted firms such as Morgan Stanley and Bank of America are developing automated investment advisors.
These machine learning-powered solutions enable businesses to entirely do away with manual work by allowing for increased productivity. Chatbots, paperwork, and employee training are several of the machine learning processes in finance. It will enable finance companies to cut costs while also increasing the number of customers.
Additionally, Machine Learning can find patterns, interpret behaviors, and recognize them, too. This can be used to create robust customer support systems that can handle any potential customer problem.
For this example, Wells Fargo uses a Facebook chatbot through Messenger. You get all the important account and password information by using the chatbot.
Anomalies in human behavior can be easily detected by using machine learning algorithms. More importantly, ML also reduces the number of false negatives and speeds up real-time processing. These models are based on the client’s online behavior and transaction history.
Another advantage of machine learning-powered fraud detection is that it can identify and stop fraudulent activity before it occurs, instead of waiting to catch it after the fact.
Using machine learning techniques, banks and financial institutions can significantly lower the risk levels by analyzing a massive volume of data sources. Unlike the traditional methods, which are usually limited to essential information such as credit score, ML can analyze significant volumes of personal information to reduce their risk.
Various insights gathered by machine learning technology also provide banking and financial services organizations with actionable intelligence to help them make subsequent decisions. An example of this could be machine learning programs tapping into different data sources to apply for loans and assign risk scores to them. ML algorithms could then easily predict the customers who are at risk for defaulting on their loans to help companies rethink or adjust terms for each customer.
Machine Learning in trading is another excellent example of a practical use case in the finance industry. Algorithmic Trading (AT) has become a dominant force in global financial markets.
ML-based solutions and models allow trading companies to make better trading decisions by closely monitoring the trade results and news in real-time to detect patterns that can enable stock prices to go up or down.
Machine learning algorithms can also simultaneously analyze hundreds of data sources, giving the traders a distinct advantage over the market average. Some of the other benefits of Algorithm Trading include –
There are various machine learning-powered budgeting apps that can offer customers highly specialized and targeted financial advice. Machine Learning algorithms allow customers to track their spending daily as well as pinpoint where they can save money.
One of the other rapidly developing concepts is Robo-Advisors. Individual and small to medium-sized business investors can do just as well with an advisory. Robo-advisors can utilize machine learning to create financial portfolios and strategies like trading, retirement plans, etc.
When it comes to banks and financial institutions, efficient data management is critical to growth and business operation. The large volume and wide range of financial details presentment diversity make it nearly impossible to comprehend even trained personnel.
Using machine learning to analyze large volumes of data brings both process efficiencies and intelligence. NLP (technologies such as data analytics, data mining, and natural language processing) derive valuable business intelligence.
Another example of this might be machine learning algorithms being applied to analyze how market and financial trends affect financial customers.
Banking and financial institutions can use Machine Learning algorithms to analyze both structured and unstructured data. E.g., customer requests, social media interactions, and various business processes internal to the company, and discover trends (both beneficial and potentially dangerous) to assess risk and help customers make informed decisions accurately.
Customers will get all their questions about their monthly expenditures, loan eligibility, affordable insurance plans, and more answered using an insightful chatbot.
Furthermore, many machine learning-based applications can analyze accounts and enable customers to save and develop their money when linked to a payment system. Advanced machine learning algorithms can be used to evaluate user behavior and create personalized offers. A customer looking to invest in a financial plan, for example, will receive a customized investment offer after the ML algorithm analyzes his or her current financial situation.
Credit card companies can use ML technology to predict at-risk customers and specifically retain selected ones out of these. Based on user demographic data and transaction activity, they can easily predict user behavior and design offers specifically for them.
The application here includes a predictive, binary classification model to find out the customers at risk, followed by utilizing a recommender model to determine best-suited card offers that can help to retain these customers.
The ability of AI and Machine Learning models to make accurate predictions based on past behavior makes them a great marketing tool. From analyzing the mobile app usage, web activity, and responses to previous ad campaigns, machine learning algorithms can help create a robust marketing strategy for finance companies.
Machine Learning is now used in various areas of the financial environment, including asset management, risk assessment, investment advice, financial fraud detection, document authentication, and much more.
Although ML algorithms deal with a wide range of tasks, they continuously learn from massive amounts of data and close the gap by getting the world closer to a fully automated financial system.
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
