Bitcoin News Thebittimes.Com

The UK’s approach to a potential digital pound is drawing significant attention, particularly regarding privacy concerns.  The Bank of England (BoE) and the Treasury, in their response to the extensive 2023 consultation, have highlighted a robust framework to ensure that privacy and user rights are at the forefront of this digital currency initiative. Crypto industry insiders, including legal and technical experts, have expressed cautious optimism about the government’s approach to privacy in an exclusive CoinDesk report. Jannah Patchay, from the Digital Pound Foundation, commended the government for recognizing privacy concerns at every stage. This sentiment reflects the already widespread concern among respondents and industry participants alike that neither the bank nor the government should access personal data. The consultation, which saw over 50,000 responses, echoed a unanimous sentiment: the need for a secure and private digital currency system. Ackno...

Some believe that hybrid blockchains with both private and public aspects can solve AI’s black-box problem. Artificial intelligence (AI) and blockchain are emerging digital technologies that have captured the public imagination but also raised serious concerns. So it bears asking: Can AI and blockchain be integrated in a way that benefits humanity? There are reasons to think so. As far back as 2016, Vitalik Buterin wrote that both the crypto economics and AI safety communities were “trying to tackle what is fundamentally the same problem” of how to regulate complex and smart systems with “unpredictable emergent properties.” Both rely for control on essentially “dumb” systems “whose properties once created are inflexible,” after all. Once a smart contract is implemented, it can’t be changed, for instance. The two communities “should listen to each other more,” he concluded. In the past year, with the emergence of ChatGPT and other generative AI tools, worries are growing that AI may be...