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Well, AI cannot be patent ‘inventor’, UK Supreme Court rules

Adrian Fuller
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Well, AI cannot be patent ‘inventor’, UK Supreme Court rules

In a remarkable legal decision, the UK Supreme Court has ruled against a U.S. computer scientist’s bid to register patents for inventions created by an artificial intelligence system, reinforcing the stance that inventors must be human or corporate entities, not machines.

Background of the Case

Stephen Thaler sought to obtain two patents in the UK for creations attributed to his AI system named DABUS, described as a “creativity machine.” Thaler’s endeavor was initially rejected by Britain’s Intellectual Property Office, which maintained that an inventor, under current legal frameworks, must be a natural person or a company rather than an AI system.

Supreme Court’s Decision

The Supreme Court, upholding the earlier decision, unanimously dismissed Thaler’s appeal. The court, led by Judge David Kitchin, emphasized that under UK patent law, an inventor is required to be a natural person. The ruling clarified that the case did not delve into broader questions about the patentability of technical advancements generated autonomously by AI, nor did it address whether the definition of ‘inventor’ should be expanded to include AI-powered machines.

Reactions and Implications

Thaler’s legal team expressed disappointment, stating that the judgment reveals the inadequacy of current UK patent law for protecting inventions autonomously generated by AI machines. This ruling follows a similar defeat for Thaler in the United States, where the Supreme Court declined to consider a challenge against the U.S. Patent and Trademark Office’s refusal to issue patents for AI-created inventions.

Expert Opinion

Legal experts, like Giles Parsons of Browne Jacobson, were not surprised by the decision. Parsons noted that, for now, AI is regarded as a tool rather than an agent within the patent system. He anticipates that this perception may evolve in the medium term, suggesting that future legal frameworks could adapt to the advancing role of AI in innovation.

Bitpanda Breaks Ground: PayPal Integration Enhances User Experience For German and Austrian Customers

Alex
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Bitpanda Breaks Ground: PayPal Integration Enhances User Experience For German and Austrian Customers

Vienna-based FinTech unicorn Bitpanda has once again taken a leap forward in revolutionizing the digital asset landscape. The company recently announced the integration of PayPal into its array of deposit methods for German and Austrian customers. This strategic move aims to enhance user convenience, making it easier for individuals in these regions to explore and invest in cryptocurrencies. In this blog post, we’ll delve into the details of this exciting development and its potential impact on Bitpanda’s growing user base.

Bitpanda Expands Deposit Options:

Bitpanda, already known for providing a diverse range of deposit methods, has added PayPal to its list of supported payment options. Before this, users could make deposits using Apple Pay, SEPA bank transfers, such as Visa and Mastercard. The inclusion of PayPal is expected to streamline further the deposit process for Bitpanda’s German and Austrian clientele

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In line with Bitpanda’s commitment to user satisfaction, the integration of PayPal brings an added layer of convenience and accessibility. According to communications from the Vienna-based FinTech, using PayPal for deposits is not only secure but also cost-free for users in Germany and Austria. This move is not just about embracing a widely used online payment method but also about fostering a more user-friendly environment for those venturing into digital assets.

Eric Demuth, Founder and CEO of Bitpanda, emphasized the significance of this integration: “We are excited to offer even more flexibility and comfort to our growing customer base in Germany and Austria as they continue to immerse themselves in the world of digital assets.”

Competition in the FinTech Space:

Bitpanda is not alone in recognizing the value of PayPal integration. Competitors like Coinbase and Kraken have also tapped into the popularity of PayPal for crypto transactions. Additionally, platforms such as eToro, XTB, and Libertex, catering to diverse financial services, have embraced PayPal as a payment option.

Bitpanda’s Portfolio:

Bitpanda’s offering goes beyond its new PayPal integration. The multi-asset investment platform boasts over 2,600 tradable digital assets, including a diverse selection of more than 350 cryptocurrencies. With over four million users in the past year, Bitpanda has established itself as a prominent player in the FinTech industry.

Bitpanda’s decision to integrate PayPal into its platform not only reflects the company’s commitment to staying ahead in the ever-evolving FinTech landscape but also showcases its dedication to providing a seamless experience for users. As the demand for digital assets continues to rise, Bitpanda’s strategic moves will likely contribute to its sustained growth and solidify its position as a key player in the cryptocurrency space. Users in Germany and Austria can now embark on their crypto journey with added flexibility and convenience, thanks to Bitpanda’s latest initiative.

Mega Influencer Chiara Ferragni’s Million Euro Donation: Navigating The #PandoroScandal

Alex
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Mega Influencer Chiara Ferragni’s Million Euro Donation: Navigating The #PandoroScandal

In a surprising turn of events, Italian influencer Chiara Ferragni finds herself at the center of a controversy dubbed the “Pandoro Scandal.” Faced with a hefty one-million-euro fine from the Italian antitrust authority and a threat of legal action from consumer protection organization Codacons for alleged fraud, Ferragni tearfully admitted to a serious communication error in the marketing of her Christmas Pandoro designed for Balocco. To mend the damage, she pledged to donate one million euros to the Regina Margherita Hospital.

The Rise and Fall of Chiara Ferragni

For years, Chiara Ferragni basked in the glory of being one of the world’s most renowned influencers, amassing nearly 30 million followers globally. Her empire, estimated to generate close to 40 million euros in revenue this year, faced a dramatic downturn after the Italian antitrust authority imposed a one-million-euro fine and Codacons threatened legal action against her for deceptive business practices.

The Heart of the Scandal

The controversy stems from the messaging surrounding the sale of Ferragni’s “Designer Pandoro” by Balocco. Despite the promised donation to the Regina Margherita Hospital having been made months before the product’s launch, consumers were led to believe that their purchase directly contributed to a charitable cause. The alleged exploitation of this narrative, combined with a significantly higher price of nine euros instead of the usual 3.70 euros, has led to accusations of profiting at the expense of vulnerable cancer-stricken children.

The Toll on Ferragni’s Image

Beyond the financial penalties, the scandal has taken a toll on Chiara Ferragni’s public image. According to FollowerStat, her Instagram page lost over 10,000 followers within 48 hours, with many expressing their anger and disappointment. Even Italian Prime Minister Giorgia Meloni joined the chorus of critics, emphasizing the need for genuine role models who engage in charitable activities rather than promoting expensive products under the guise of philanthropy.

A Tearful Apology

In an unexpected move, Chiara Ferragni took to Instagram to issue a heartfelt apology. Uncharacteristically unglamorous and without makeup, she acknowledged her moral responsibility and admitted to her mistake. Expressing a commitment to teach her children the value of admitting faults and making amends, Ferragni announced her intention to donate one million euros to the Regina Margherita Hospital to support the treatment of sick children.

Rebuilding Trust and the Road Ahead

Despite Ferragni’s announcement that she plans to contest the hefty fine, her tearful admission may signal an inclination towards a more conciliatory approach. Influencers thrive on positive public perception, and resolving the “Pandoro Scandal” through a fine payment and an amicable resolution with the complainants seems crucial for Ferragni’s brand.

As followers anxiously await the outcome, the fate of Chiara Ferragni’s influencer empire hangs in the balance. Will her million-euro donation and heartfelt plea for forgiveness be enough to appease her audience, or will the repercussions of the Pandoro Scandal continue to cast a shadow over her once-untarnished image? Only time will tell.

The Confluence Of Creativity & Opulence: Art Basel Miami 2023 Unveiled

Alex
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The Confluence Of Creativity & Opulence: Art Basel Miami 2023 Unveiled

In the effervescent landscape of contemporary art, where creativity converges with commerce and cultural expression knows no bounds, the year 2023 marked another extraordinary chapter in the illustrious history of Art Basel Miami. Held annually in the sun-drenched enclave of Miami Beach, Florida, the 2023 edition of this prestigious art fair unfolded from December 8 to 10, beckoning art enthusiasts, collectors, and cultural connoisseurs to witness a fusion of artistic brilliance, gastronomic indulgence, and influential presence of luxury brands.

Against the backdrop of the Atlantic Ocean, Art Basel Miami 2023 set the stage for a captivating exploration of the avant-garde, showcasing the masterpieces of established artists and the innovative works of emerging talents. Let us embark on a journey into the heart of this cultural spectacle, where the realms of contemporary art and luxury converge in a celebration of creativity, exclusivity, and the boundless possibilities of artistic expression.

The Global Stage for Contemporary Art:

Art Basel Miami Beach, one of the most esteemed art fairs globally, curated a diverse and captivating display of artistic expression in 2023. The fair featured leading galleries from five continents, transforming the Miami Beach Convention Center into a vibrant hub of creativity. Masters of Modern and Contemporary Art shared the spotlight with the rising stars of the new generation, creating a dynamic dialogue that reflected the ever-evolving landscape of artistic innovation.

Navigating the Artful Maze:

The fair’s floor plan was a testament to meticulous organization, designed to guide visitors through the expansive showcase seamlessly. From the Galleries sector to the innovative Nova, Positions, Edition, and Survey categories, attendees explored a myriad of artistic forms and expressions. The integration of five plazas across the venue added an element of spatial engagement, encouraging discovery beyond the traditional confines of a gallery space.

A Feast for the Senses: Luxury Dining with Art Basel and the MICHELIN Guide:

Adding a sophisticated layer to the cultural panorama, Art Basel Miami 2023 partnered with the MICHELIN Guide to offer a premium dining experience. Guests were treated to culinary excellence at L’Atelier de Joël Robuchon, Florida’s only two-MICHELIN Star restaurant. The collaboration not only elevated the gastronomic experience but also granted Premium Card holders exclusive access to the Vernissage and permanent entry throughout the public days.

Sales Triumphs and Art Market Highlights:

The art market reverberated with success as galleries reported significant sales at the 2023 edition of Art Basel Miami Beach. Notably, Alicia Adamerovich‘s “Big and sweet by the light (2023)” found a new home at ICA Miami, while a $20 million Philip Guston painting underscored the fair’s role as a prominent player in high-value transactions.

The Artful Integration of Luxury Brands:

Beyond the canvas, luxury brands wove themselves seamlessly into the fabric of Art Basel Miami 2023. Exclusive collaborations, limited-edition releases, curated experiences, and artful spaces within the fair highlighted the role of these brands in enhancing the overall ambiance, contributing to a cultural conversation that extended beyond the boundaries of traditional commerce.

Art Basel Miami 2023, with its dynamic blend of artistic brilliance, culinary excellence, and the influential presence of luxury brands, has once again left an indelible mark on the global cultural landscape. As the curtains closed on another chapter, the fair’s legacy continues to thrive as a nexus of creativity, where the boundaries between art and luxury blur, giving rise to a celebration that transcends the conventional expectations of both worlds. In its unwavering commitment to innovation, diversity, and the pursuit of the avant-garde, Art Basel Miami remains a beacon, illuminating the path for the future of contemporary art.

X: The Twitter Transformation Into An All-Encompassing Financial Hub Under Elon Musk

Alex
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0
X: The Twitter Transformation Into An All-Encompassing Financial Hub Under Elon Musk

In a groundbreaking move, the social media giant formerly known as Twitter has recently received approval for payment services in Pennsylvania, marking a significant step towards Elon Musk‘s vision of transforming the platform into what he calls an “everything app.” This development allows users to conduct their entire financial lives within the app, paving the way for X to become a comprehensive financial hub.

According to Reuters, the approval granted to X enables the platform to facilitate money transfers, akin to other payment systems such as PayPal’s Venmo. Musk’s ambitious plan revolves around making X the go-to platform for all financial transactions, eliminating the need for traditional banking services.

TechCrunch reported earlier this year that X had secured licenses in several U.S. states, including South Dakota, Kansas, Wyoming, Iowa, Mississippi, Georgia, Maryland, Rhode Island, Arizona, Michigan, Missouri, and New Hampshire. While the company still needs approval in every state to offer payment services across the entire U.S., Musk has outlined plans to expand features for users with significant followings, providing a potential avenue for advertising revenue sharing.

After facing controversies and a mass exodus of advertisers due to the endorsement of hate speech, X has shifted its focus towards small businesses. Musk, in an all-hands call with employees in October 2023, emphasized the broader scope of X’s payment services, stating, “When I say payments, I actually mean someone’s entire financial life. If it involves money, it’ll be on our platform. Money or securities or whatever. So, it’s not just like sending $20 to my friend. I’m talking about, like, you won’t need a bank account.”

Musk further expressed his optimism, stating, “It would blow my mind if we don’t have that rolled out by the end of next year.” The move towards becoming a one-stop financial destination aligns with Musk’s overarching goal of creating a seamless and integrated experience for users.

As X continues to navigate the regulatory landscape and secure approvals across the United States, the prospect of a social media platform evolving into a comprehensive financial platform raises intriguing possibilities for the future of online interactions and financial transactions. If successful, Musk’s vision may redefine how users engage with their finances, challenging traditional banking models and paving the way for a new era of digital financial integration.

Neobroker BUX Sold To Dutch Bank ABN AMRO: A Strategic Move in the European Fintech Landscape

Alex
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0
Neobroker BUX Sold To Dutch Bank ABN AMRO: A Strategic Move in the European Fintech Landscape

In a notable development in the European fintech scene, ABN AMRO, a prominent Dutch bank, has announced the acquisition of BUX, a Netherlands-based neobroker that had once rivaled Trade Republic and Scalable Capital. The move brings approximately 500,000 customers of BUX under the umbrella of ABN AMRO, marking a significant shift in the dynamics of the digital investment space.

The acquisition, while anticipated by industry observers, underscores ABN AMRO’s commitment to expanding its presence in the retail customer investment sector and enhancing its digital offerings. It is worth noting that ABN AMRO Ventures, the bank’s startup investment arm, had been an early supporter of BUX, aligning with the broader trend of traditional financial institutions investing in innovative fintech startups.

BUX operates not only in its home country, the Netherlands, but also in Germany, Austria, France, Spain, Italy, Ireland, and Belgium. The purchase price remains undisclosed as of now, pending regulatory approvals from competition authorities.

This strategic move is expected to solidify ABN AMRO’s market leadership in the Netherlands, where the combination of the bank and BUX is poised to create a formidable presence. The acquisition is framed as a growth investment for BUX, enabling ambitious long-term scaling and innovation, bolstered by the extensive resources and infrastructure of ABN AMRO.

Interestingly, the acquisition does not include BUX’s cryptocurrency activities. In contrast to other banks that are increasingly entering the cryptocurrency space amid the anticipated excitement of the crypto year 2024, ABN AMRO has chosen to refrain from such ventures for the time being. BUX introduced its cryptocurrency offerings in 2019, and the fate of these services post-acquisition remains uncertain.

Notably, BUX has not raised as much capital as some of its neobroker counterparts, such as Trade Republic or Bitpanda, both of which have introduced similar investment offerings, including fractional shares, ETFs, and cryptocurrencies. In 2021, Prosus and the Chinese company Tencent led a funding round for BUX, securing $80 million (67 million euros). In 2022, BUX reported a loss of 16 million euros despite generating revenue of 2.52 million euros.

ABN AMRO reassures stakeholders that the transaction is expected to have only a “minor impact on the CET1 capital ratio,” emphasizing its strategic nature in reinforcing the bank’s position, both domestically and internationally, through the innovative capabilities of BUX. As the acquisition awaits regulatory approval, the financial landscape in Europe continues to evolve, showcasing the dynamic interplay between traditional banking institutions and emerging fintech disruptors.

Crypto Entrepreneur Julian Hosp Has Again Troubles With A Partner!

Adrian Fuller
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Crypto Entrepreneur Julian Hosp Has Again Troubles With A Partner!

The Austrian blockchain entrepreneur Julian Hosp is facing new challenges with his latest venture, Cake Group, FinTelegram reports. Hosp, who has gained notoriety in the blockchain industry, especially after his involvement in the now-defunct TenX, is again in the spotlight for alleged financial mismanagement. TenX, which raised $80 million in an Initial Coin Offering (ICO) during the 2017 cryptocurrency boom, was regarded as an exit scam by the industry.

The Cake Group Battle

The crypto venture TenX raised $80 million from some 4,000 investors in its ICO amid the crypto hype in 2017. The scheme later collapsed and is regarded as an exit scam. The recent developments at Cake Group, where Hosp is a co-founder and CEO, have raised similar concerns. Cake Group, known for its cryptocurrency investment platform, is undergoing a legal battle initiated by its co-founder, Chua U-Zyn. Chua, also the CTO and shareholder, filed for the winding-up of the company, citing a shareholder dispute.

This application was filed with the High Court on December 1, as reported by The Straits Times, with a hearing scheduled for December 22.

Hosp announced in a blog post on November 14 that Cake DeFi, a part of Cake Group, would be reducing its workforce by 30%, impacting 52 employees in Singapore and Kuala Lumpur. This decision was supposedly made without the consensus of Chua, who opposed the layoffs and criticized the lack of transparency and clear intention behind the move.

Responding to the legal challenge, Hosp claimed that Cake Group is financially stable and solvent, with ongoing business operations and assets exceeding liabilities. He emphasized that the winding-up application is based on internal disagreements rather than financial incapacity.

The Shabby Past

Cake founder Julian Hosp (LinkedIn) is a notorious crypto entrepreneur and speaker. He craves being in the spotlight and being admired. However, in all his published resumes and biographies on LinkedIn, Hosp conceals a dark part of his past – working for MLM scheme Lyoness.

Hosp comes from the MLM field and has worked for the infamous Lyoness MLM scheme, where he was one of the top leaders with 25,000 people in his downline. Victims brought numerous criminal charges against Lyoness, prosecutors in different jurisdictions investigated, and penalties and bans were issued.

Tech Billionaires: Meet The Bearded Visionary Jack Dorsey!

Lucas Peterson
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Tech Billionaires: Meet The Bearded Visionary Jack Dorsey!

Jack Dorsey, born on November 19, 1976, in St. Louis, Missouri, is a renowned American entrepreneur, programmer, and philanthropist widely recognized as the co-founder and former CEO of Twitter. He is currently the head of Block, a payment company he co-founded, and is also developing Bluesky Social, a decentralized social networking platform.

Dorsey attended New York University but dropped out just before completing his degree. His career took a significant turn when he, along with Biz Stone and Evan Williams, co-founded Twitter in 2006. Initially known for its 140-character limit, Twitter rapidly grew into a popular social media platform. Dorsey served as CEO until October 2008, later returning to the role in October 2015.

In addition to Twitter, Dorsey founded Square, now known as Block, in 2009. Square, a mobile payments venture, was innovative in allowing small business owners to accept credit card payments through mobile devices. Dorsey’s interest in blockchain technology led to the rebranding of Square to Block in 2021, reflecting a broader focus beyond just payment services.

As of 2023, Jack Dorsey‘s net worth is estimated to be around $5 billion, with a significant portion coming from his ownership stock in Block. He is known for his philanthropic efforts, including funding numerous educational projects, supporting COVID-19 relief efforts, and advocating for universal basic income.

Dorsey is also noted for his unique lifestyle choices, including his practice of yoga and meditation, his eating habits, and his past interest in fashion design. Despite his immense success, Dorsey has faced criticism over various aspects of his leadership and decisions, particularly during his tenure at Twitter.

Jack Dorsey‘s life and career journey reflect a blend of technological innovation, entrepreneurial spirit, and a commitment to social causes, making him a significant figure in the tech industry​

Elon Musk’s X Confronted With Collapsing Ad Revenue!

Adrian Fuller
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Elon Musk’s X Confronted With Collapsing Ad Revenue!

The Cyber Voice has learned that X, formerly known as Twitter, is experiencing a downturn in advertising revenue this year. According to a Bloomberg report on December 12, the social media giant’s ad revenue has dropped to approximately $600 million per quarter in 2023, a significant decline from the over $1 billion per quarter it reported in 2022.

Advertising sales, which constitute 70% to 75% of X’s total revenue, have been impacted by advertisers’ growing concerns over the platform’s content moderation practices under the leadership of its new owner, Elon Musk.

X‘s executives had ambitiously aimed for $3 billion in revenue from advertising and subscriptions for 2023, but it seems the company is on track to miss this target. Joe Benarroch, the head of business operations at X, told Bloomberg that this portrayal offers a partial view of the company’s operations. Benarroch highlighted that X is a global enterprise with diverse revenue sources and shouldn’t be judged solely on metrics from its Twitter-era.

Under Musk’s direction, X has gradually reduced its dependence on advertising revenue. Alongside ad sales, the company also earns from its subscription service, X Premium, and through data licensing deals. However, external assessments indicate that the subscription business contributes less than $120 million annually.

Musk has expressed intentions for subscription revenues to account for half of X’s overall business. Currently, the service has just over 1 million paying subscribers. To broaden its revenue base, X is also focusing on attracting small and medium-sized businesses (SMBs) in addition to major brand advertisers.

The decline in ad revenue poses questions about X‘s future viability. Musk himself has acknowledged the risk of the company failing due to reduced ad revenue.

On December 11, reports emerged that X is laying the groundwork to expand into money movement. The company obtained three new money transmitter licenses in the United States at the end of November, bringing its total to licenses in a dozen states. This move indicates X‘s strategic shift to diversify its revenue streams and bolster its financial footing.

#boycottzara: Shitstorm Against Fashion Company Zara Over “Tasteless” Campaign

Alex
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#boycottzara: Shitstorm Against Fashion Company Zara Over “Tasteless” Campaign

After a long period of silence, the Spanish fashion label blocks controversial images and speaks of a “misunderstanding”.

The US model Kristen McMenamy was seen in a white room, surrounded by mannequins wrapped in plastic and cloth and partially destroyed building materials. “The Jacket” was the name of the new Zara campaign, which has caused much outrage in recent days: the Spanish fashion label was accused of using images reminiscent of wrapped corpses in Gaza.

Some users saw associations with the current conflict between Israel and the terrorist organization Hamas. The hashtag #boycottzara was created. Others accused Zara of normalizing images of war, and many called the campaign tasteless. “Using the death of innocent children and people as advertising. Disgusting, just disgusting,” wrote one user on X.

The company remained silent for nearly a week. On Tuesday, it finally responded, saying it regretted the “misunderstanding. They did not want to irritate or offend anyone. The campaign has been deleted, and the image is no longer available on the company’s official website. (red.)

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