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Innovation News
Fintechreview
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What is a Non-Custodial Bank in Web3?
- Non-custodial banks are emerging as a revolutionary solution within the Web3 ecosystem, allowing users to maintain full control of their funds, unlike traditional banks that hold or manage their clients’ assets.
- A non-custodial bank provides the infrastructure for financial transactions such as payments and invoicing without actually holding or controlling the users’ funds, reducing the risk of losing access due to institutional failures or restrictions.
- Non-custodial banks align with the principles of decentralisation and transparency that are at the heart of Web3 technologies, making it an ideal fit for businesses and individuals looking to operate with greater autonomy.
- Non-custodial banking offers several distinct advantages, the most significant being enhanced security and control.
- Charge is positioned as the first Web3 merchant bank, specifically designed to cater to small and medium-sized businesses that operate in both crypto and fiat currencies, making it easier for businesses to engage in international commerce without the limitations of traditional banking systems.
- Non-custodial banks like Charge can offer much lower transaction fees compared to traditional banks, making cross-border and crypto-to-fiat transactions more affordable and efficient.
- Non-custodial banking empowers users with complete ownership, aligning with the growing demand for financial independence and transparency.
- As Web3 technology continues to grow, non-custodial banking will be at the forefront, offering secure, flexible, and efficient solutions that bridge the gap between traditional finance and the digital economy.
- With platforms like Charge, companies operating in the Web3 space can bypass traditional banking limitations and leverage blockchain’s low-cost, fast transaction capabilities to scale their operations globally.
- By removing the need for a central authority to control funds, non-custodial banks empower users with complete ownership that could also play a key role in compliance, especially for businesses looking to align their operations with sustainability goals.
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Pymnts
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Cut the Coupons: Mondelēz and SKUx See Blockchain Transforming Retail Promotions
- Technology can revolutionize industries when applied thoughtfully.
- Mondelēz International and SKUx co-founder and CEO Bobby Tinsley, believe distributed ledger technology (DLT) and blockchain advances are providing groundbreaking steps forward for the retail and payment-based offer ecosystems, particularly across the traditional couponing and promotional landscape.
- Mondelēz, relying on traditional couponing methods involving paper checks and mailed promotions, partnered with SKUx to innovate beyond the conventional couponing process by transitioning their promotions into a digital format.
- The proof of concept reduced redemption times from several days to seconds and achieved a 90% conversion rate - an improvement over the paper-based system.
- Blockchain technology underpins this new digital promotional system, offering transparency and efficiency. By using DLT, companies can save on costs associated with printing and distributing physical coupons, reduce processing times and improve consumer experience.
- A strong desire for digital transformation is driving businesses to adopt new technology like blockchain. Incremental improvements to traditional systems are insufficient for achieving notable growth goals.
- A key aspect of the approach being taken by Mondelēz and SKUx is the development of a new promotional rail - one that is agnostic to payment providers and networks. By offering digital promotions compatible with various payment methods and integrating them into existing loyalty programs, SKUx aims to create a seamless experience for both merchants and consumers.
- Mondelēz and SKUx are exploring ways to expand this ecosystem further. They see potential in integrating retail loyalty programs and developing new types of wallets that tie brand and retail loyalty together.
- As companies move beyond the proof of concept and into full production, scalability and interoperability are challenges that need to be addressed.
- Mondelēz and SKUx aim to redefine how brands engage with consumers, moving beyond the limitations of traditional promotional models.
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Pymnts
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Data-Driven Defense: Discover Global Network Focuses on Brand Integrity
- Fraudsters use advanced technologies to commit financial crimes worldwide.
- Discover Global Network focuses on safeguarding brand integrity and instilling consumer confidence.
- Data-driven defense is crucial, utilizing data to identify transaction patterns and potential risks.
- Discover plans to streamline risk management processes and improve communication for acquirers and merchants.
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TechBullion
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AquaLab’s Innovative Pool Systems Enhance in Desert Mountain, AZ with Advanced Nanobubble Sanitization
- AquaLab is enhancing athletic training in Desert Mountain, AZ with innovative pool systems.
- Their systems integrate advanced nanobubble technology for enhanced sanitization and improved water quality.
- The nanobubble technology reduces the need for harsh chemicals, providing a gentler and more eco-friendly option.
- The systems optimize muscle recovery, reduce fatigue, and improve athletic performance.
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Gritdaily
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Silicon Valley Upstart Wants to Make You Data-Rich with World’s First Data Wallet
- DrumWave has launched the dWallet platform, a first-of-its-kind system that will enable individuals and companies to contribute data and monetise their digital footprint.
- Individuals can now transform their personal data from a cost centre into a profit centre, with the help of an infrastructure of user-friendly interfaces, allowing for greater data sovereignty and valuation.
- The launch comes as the global data monetisation market surges: valued at $3.4bn in 2023, the market is projected to grow at a CAGR of 25.8% through 2030.
- DrumWave CEO André Vellozo says all consumers are data-poor and need to become data-rich, as traditional banking and currency become increasingly outmoded and ownership of data is paramount.
- The sophisticated infrastructure of the open, cloud-based architecture enables seamless integration for data agents and developers while maintaining controlled access to data in its original location.
- Brittany Kaiser, newly appointed as DrumWave’s Chief Evangelist, highlights the platform’s transformative potential: “For years, I’ve been saying that the most valuable asset in the world, our data, has been harvested, collected, modelled, and monetised — just to sell products to us — but nobody has come up with a solution to address the root of the problem yet.
- DrumWave has made Brittany Kaiser’s decade-long dream of data ownership and the ability for citizens around the world to garner perpetual value from their data a reality.
- The DrumWave system rewards data-generating users so they “can participate in the value creation process”, according to Germán Scipioni, the company’s Chief Product Officer.
- DrumWave CTO Laura Bermudez highlights how the solution establishes new standards for data management, with authenticity validation and the unprecedented ability to combine data from multiple sources and industries.
- The launch was made at Money20/20, designed to start a conversation about how to reimagine the future of money, and data ownership is fundamental to that discussion.
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Medium
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What I’ve Learned Watching the AI Gold Rush
- Companies are seeking practical help with AI rather than magical solutions.
- There is a gap between AI tools and the knowledge needed to use them effectively.
- Surprising opportunities exist in AI education.
- Business forums are filled with repeated questions about AI implementation.
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Medium
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Cognitive AI Innovative approach by Oasis Protocol
- Oasis Protocol offers a unique solution with confidential smart contracts and a high-performance network architecture in integrating privacy with blockchain scalability to handle sensitive data without public exposure of information, particularly for healthcare and finance industries.
- Oasis Protocol's privacy-preserving solutions ensure that Cognitive AI systems can safely access and process data without compromising security or user trust, especially in healthcare applications where sensitive data needs to be protected from breaches, leaks, or misuse.
- Oasis Protocol offloads computational tasks to secure, dedicated enclaves, which reduces the overall load on the network while maintaining high throughput, benefiting sectors in finance and manufacturing relying heavily on data-driven insights to make real-time decisions.
- The partnership between Oasis Protocol and Cognitive AI unlocks new possibilities in the world of secure, intelligent systems, where AI systems can operate autonomously and securely, without sacrificing user trust.
- The intersection of Oasis Protocol and Cognitive AI is visible in practical applications like healthcare, finance, and autonomous systems, including AI models used for fraud detection, algorithmic trading, and customer service, and in diagnostics, personalized treatment plans, and autonomous systems’ real-time processing of sensory data to make decisions.
- Oasis Protocol’s core strength lies in its ability to combine privacy with scalability, a unique offering in the blockchain space, which provides the scalability necessary for AI applications while ensuring transaction data remains private throughout the analysis process.
- As the blockchain and AI landscapes continue to mature, the partnership between Oasis Protocol and Cognitive AI will undoubtedly lead to groundbreaking advancements, unlocking new possibilities in the world of secure, intelligent systems.
- Confidential smart contracts, powered by secure enclaves, allow for sensitive data to be processed without exposure, which is a critical feature for Cognitive AI applications where the security of personal data is paramount.
- With partnerships already in place with companies like Meta and BMW, Oasis is positioned to expand its influence, particularly in AI-driven sectors.
- Oasis Protocol ensures that sensitive data is protected through the entire pipeline, from ingestion to inference, offering the computational efficiency needed to support high-performance systems while ensuring that data integrity and confidentiality are never compromised.
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Medium
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Riding the Pandemic Fundraising Wave with Allocations
- The COVID-19 pandemic unexpectedly resulted in increased savings and available time for many Americans.
- Joining the fundraising platform, Allocations, changed the author's perspective on financial technology.
- Allocations aimed to democratize access to private investment opportunities for smaller investors.
- By mid-year 2021, Allocations achieved profitability and experienced significant growth.
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Pymnts
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Crater Launches AR/AP Solutions for Financial Institutions and B2B Platforms
- Crater has launched AI-powered accounts receivable (AR) and accounts payable (AP) solutions for financial institutions and B2B platforms.
- Customers can offer white-labeled, embedded AR/AP products customized to their brand identity, supported by an AI-powered copilot.
- Crater also launched an AI-powered workflow automation feature for processes like invoice management and business onboarding.
- The company introduced the Universal Payments API for seamless integration with major payment networks.
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Tech Republic
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Hiring Kit: IoT Developer
- To keep up with the disruption caused by the Internet of Things (IoT), companies need skilled IoT developers.
- This customizable hiring kit helps organizations find the best IoT developer.
- IoT developers should demonstrate the ability to think beyond traditional limitations and have expertise in AI, machine learning, and software security.
- TechRepublic Premium offers this hiring kit for download at $9 or through a Premium annual subscription.
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Medium
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The Innovation Playbook: How Amplitude Reinvents Itself to Stay Ahead
- Amplitude emphasizes the importance of innovation and staying ahead in the fast-paced tech world.
- Adding more resources or engineers does not always lead to more innovation; team structure and management of innovation efforts are crucial.
- Amplitude's core teams maintain control over their roadmaps, ensuring innovation is not lost in large-scale operations.
- Customer focus is at the heart of Amplitude's innovation culture, with deep understanding of customer needs shaping product direction.
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UX Design
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A good design is a good essay
- The role of UX is to propose change and develop a persuasive argument.
- It is important for designers to articulate their position and support it with argument.
- If the audience does not need to be convinced, then we are not providing any new insight.
- When it comes to design, stakeholders may need to be convinced and designs must be described persuasively.
- Designers who want to make a good argument must design essays in their purest form.
- Relying on AI tools to craft persuasive arguments makes us less convincing.
- An essay is a tool for building an argument in the first place.
- The use of AI to summarize or generate transcripts cannot replace the skills to persuasively articulate an argument.
- Humanities majors are the data scientists that can train system outputs within organizations.
- Designers need to change prevailing systems in companies through persuasive arguments.
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Medium
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A good design is a good essay.
- UX professionals need to develop a persuasive argument at the core of how they create value.
- To frame and solve wicked problems, designers need to identify an issue, articulate their position and support it with argument.
- The value of UX lies in persuading stakeholders to do something different than what they were going to do.
- Even when defining how a product will behave, rather than discovering why, designers need to convince stakeholders.
- Designers shifting the burden of crafting persuasive arguments onto AI tools are making themselves less and less convincing.
- Designers need to adopt a deliberate approach to the design as an essay for a persuasive argument in its purest form.
- The axis between two distant data points becomes the structure around which everything else falls logically into place.
- An LLM cannot draw the inferences that discover interesting arguments or make them compelling, just shortens the content fed into it.
- Skills to persuasively articulate are always a worthwhile investment in the design of persuasive arguments.
- Designers hoping to break out of merely validating stakeholder biases need to reach beyond STEM and start designing arguments.
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TechBullion
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From Code to Leadership: How Lesia Yanytska Is Redefining Product Innovation in Manufacturing
- Lesia Yanytska, a product innovation and IT leader, broke tradition by venturing into technology and management, pursuing the path she chose instead of following in her parents’ footsteps of medical and engineering professions. As a product manager at Luxoft, she developed an MES with Industrial IoT capabilities that optimized real-time visibility and predictive maintenance in manufacturing operations. She positions herself and product management as a passion that drives positive change in society and the environment and has enrolled in renowned institutions such as Stanford University and MIT to improve her skills. Her achievements involved taking on complex projects, leading teams efficiently while keeping projects on track, reducing production costs by 15% and reducing manual reporting time by 50%.
- Lesia’s ultimate goal is to contribute positively to society and to exceed market needs. By leveraging her technical knowledge with her leadership skills, she has successfully positioned herself as a product innovation and IT leader, bringing a positive impact on manufacturing innovation and the IT industry.
- Lesia’s continuous learning and professional development have helped her achieve success in the IT industry. Her work in product management, especially with Industrial IoT capabilities, has enabled her to transform ideas into solutions that improve lives globally.
- Lesia’s story exemplifies the importance of carving one’s path in a fast-evolving industry that requires passion, persistence, and vision and teaches leadership qualities. Defying expectations and breaking away from traditions, Lesia is a change-maker with a blend of technical and human-centered skills that propel her to greater heights in her IT profession.
- Lesia’s innovation in implementing MES led to a 15% reduction in production costs while reducing manual reporting time by 50%. With this achievement, Lesia is committed to leveraging her skills and knowledge to drive innovation and the creation of products that impact positively on manufacturing.
- Lesia utilized her comprehensive technical skills, leadership skills, creativity, and passion to position herself as a product innovation and IT leader, driving a positive impact on manufacturing innovation and the IT industry.
- Lesia’s focus on adopting advanced agile methodologies and project management techniques, empowered by her multiple certifications, led to a 35% increase in R&D efficiency. Lesia’s dedication to continuously improving resulted in her earning numerous frameworks and methodologies that power innovation.
- Lesia believes that product management is the perfect combination of creativity, strategy, and leadership, committed to creating products that impact positively on the manufacturing industry globally.
- Lesia’s journey teaches the importance of hard work, continuous learning, and professional development in the fast-evolving IT industry and exemplifies a leader and a change-maker dedicated to driving positive change globally.
- Lesia’s achievements in promoting efficiency and value in her work demonstrate her passion for driving change and innovation in the manufacturing industry. By blending passion, persistence, and vision, Lesia’s story proves that even the boldest dreams are possible.
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Silicon
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Toyota, NTT Invest $3bn In Autonomous Driving
- Toyota and NTT are investing $3.3bn in research and development for the creation of AI software to anticipate accidents and take control of a car.
- The system will utilize NTT's next-generation optical communications infrastructure to handle the large amounts of data involved.
- The goal is to have the system ready by 2028 and make it available to other automakers.
- The driver-assistance feature will involve real-time data analysis to detect potential accidents and take control of the vehicle to avoid them.
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