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Here are the 7 requirements for building ethical AI, according to the EU commission

May01
by on May 1, 2019 at 11:19 am
Posted In: Around the Web, artificial intelligence, syndication, world


In October, Amazon had to discontinue an artificial intelligence–powered recruiting tool after it discovered the system was biased against female applicants. In 2016, a ProPublica investigation revealed a recidivism assessment tool that used machine learning was biased against black defendants. More recently, the US Department of Housing and Urban Development sued Facebook because its ad-serving algorithms enabled advertisers to discriminate based on characteristics like gender and race. And Google refrained from renewing its AI contract with the Department of Defense after employees raised ethical concerns. Those are just a few of the many ethical controversies surrounding artificial intelligence algorithms in the past few years. There’s a six-decade history behind the…

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Controversial stablecoin Tether is only 74 percent backed by cash (and other assets)

May01
by on May 1, 2019 at 10:19 am
Posted In: Around the Web, cryptocurrency, Hard Fork


Tether’s lawyer has now admitted that the stablecoin is only 74 percent backed by cash and equivalents, according to an affidavit filed on Tuesday. In the filing, Stuart Hoegner, the company’s general counsel, said Tether held approximately $2.1 billion in cash and short-term securities. “As of the date [April 30] I am signing this affidavit, Tether has cash and cash equivalents (short term securities) on hand totalling approximately $2.1 billion, representing approximately 74 percent of the current outstanding tethers,” said Hoegner. The lawyer also acts as the general counsel for cryptocurrency exchange Bitfinex, which alongside Tether, is facing allegations by…

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‘Shadow banking’ duo charged for laundering millions of dollars for cryptocurrency exchanges

May01
by on May 1, 2019 at 10:13 am
Posted In: Around the Web, blockchain, cryptocurrency, Hard Fork


The US Attorney for the Southern District of New York has charged two people in connection with running an unlicensed money transfer business used to make deposits for cryptocurrency exchanges. Reginald Fowler and Ravid Yosef allegedly ran a shadow banking service that “processed hundreds of millions of dollars of unregulated transactions on behalf of cryptocurrency exchanges,” US Attorney Geoffrey Berman said in the announcement. Exactly how much they processed has not been disclosed. According to court documents, Fowler and Yosef’s business, called Crypto Companies, reportedly misled banks, claiming it was using the accounts for real estate investments. The company was…

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‘Shadow banking’ duo charged for laundering millions of dollars for cryptocurrency exchanges

May01
by on May 1, 2019 at 10:13 am
Posted In: Around the Web, blockchain, cryptocurrency, Hard Fork


The US Attorney for the Southern District of New York has charged two people in connection with running an unlicensed money transfer business used to make deposits for cryptocurrency exchanges. Reginald Fowler and Ravid Yosef allegedly ran a shadow banking service that “processed hundreds of millions of dollars of unregulated transactions on behalf of cryptocurrency exchanges,” US Attorney Geoffrey Berman said in the announcement. Exactly how much they processed has not been disclosed. According to court documents, Fowler and Yosef’s business, called Crypto Companies, reportedly misled banks, claiming it was using the accounts for real estate investments. The company was…

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Amazon says AT&T, Accenture, and Nestle are all using its blockchain tools

May01
by on May 1, 2019 at 10:08 am
Posted In: Apps, Around the Web, blockchain, cryptocurrency, Hard Fork


Amazon is ramping up its blockchain services – and it’s already convinced giants like AT&T, Accenture and Nestle to use them. The company’s cloud solutions subsidiary, Amazon Web Services (AWS), announced its Amazon Managed Blockchain suite is now “generally available” (whatever that means). On first glimpse, it seems that AWS is simply opening up the service to anyone interested in building “decentralized” solutions – and willing to pay for it. (We’ve reached out to Amazon to ask what the company means by “general availability,” and we’ll update this post accordingly if we hear back.) It appears AWS is targeting businesses…

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