QuantBites Weekly Newsletter
We're thrilled to share bite-sized insights and updates with you in our second week.
In this newsletter, we delve into the realms of blockchain, digital economic policies, and noteworthy advancements in science and technology. Our goal is to remove the need for you to browse through numerous websites and news outlets by providing stuff that is actually important. We provide two editions: a weekly and a monthly one, and they are always changing in response to your input.
We intend to roll out content that is specific to the interests of our readers as we expand. In the interim, we hope you enjoy our carefully chosen newsletter, which provides you with the most recent information about blockchain, digital economics, and cutting-edge science and technology.
TABLE OF CONTENT:
Blockchain And digital currency 💻💰
Scientific advancements 🧪⚙️
1. BLOCKCHAIN AND DIGITAL CURRENCY
Altman's Comeback Bid Shakes Up OpenAI Amid Worldcoin Rollercoaster
In a dramatic twist, Sam Altman, the ousted CEO of OpenAI, is eyeing a return, causing a stir with demands for major company changes. Sources reveal he's pushing for an overhaul of governance and the removal of certain board members. Altman is also seeking a clear declaration of innocence from any alleged wrongdoing.
This upheaval follows Altman's abrupt exit on Friday, which sent shockwaves through the cryptocurrency market. Worldcoin (WLD), closely tied to OpenAI, experienced a rollercoaster ride, swinging between $2.04 and $2.56, with a whopping 117.1% spike in trading value to $313.3 million within 24 hours.
Altman's controversial departure had initially led to a 12% drop in Worldcoin's value, reflecting the market's uncertainty. The OpenAI board had expressed a loss of trust in Altman's leadership, declaring, "The board no longer has confidence in his ability to continue leading OpenAI."
Altman's recent appearance at OpenAI's offices, wearing a guest badge with OpenAI's logo, adds to the intrigue. Stay tuned as the future of OpenAI takes unexpected twists and turns.
Singapore Takes a Leap in Digital Money with Wholesale CBDC
In a bold move towards digital innovation, the Monetary Authority of Singapore (MAS) has unveiled its vision for the future of digital money, focusing on wholesale central bank digital currency (CBDC), tokenized bank liabilities, and regulated stablecoins. Notably absent is a retail CBDC, despite MAS's previous trials in Project Orchid.
The first use case for wholesale CBDC is enabling interbank settlement for tokenized deposits. Local banks OCBC and UOB are set to pioneer retail payments using each other's tokens, showcasing this advancement at the Singapore Fintech Festival. MAS plans to extend the wholesale CBDC trial to cross-border securities settlement beyond interbank payments.
MAS Managing Director Ravi Menon emphasized the significance of this milestone, stating, "The issuance of wholesale CBDC reinforces the role that central bank money plays in facilitating safe and efficient payments." Singapore's move aligns with a global trend, with India planning to launch its wholesale CBDC in early 2024, as predicted by the head of the Bank for International Settlements. Exciting times lie ahead as countries embrace digital currency evolution.
Navigating the Crypto Storm: Beyond Bitcoin's Halving and Regulatory Waves
As Bitcoin gears up for its much-anticipated halving in April, crypto companies find themselves at a crossroads. The halving, a historic event known for triggering market shifts, comes with both opportunities and uncertainties. While it's tempting to ride the wave of short-term gains, businesses must balance enthusiasm with a long-term perspective to ensure sustainability.
The recent layoffs at Avalanche serve as a stark reminder of the crypto sector's volatility. Robust risk management strategies are now imperative, emphasizing sustainable growth and financial planning. Rather than solely chasing immediate gains, companies are redirecting efforts toward product development to cater to an expanding post-halving customer base.
However, a potential pitfall looms, as hurried product releases may neglect cybersecurity. The industry's susceptibility to cyberattacks underscores the importance of learning from past incidents. As venture capital flows back into the crypto sector amid halving anticipation, caution is advised. Thoughtful expansion, grounded in solid financial planning, should prevail over impulsive decisions.
2. SCIENTIFIC ADVANCEMENTS
Revolutionizing Robotics: 3D Printing Unleashes Super Robots with Elastic Powers!
3D printing just got a turbo boost! Researchers at ETH Zurich and a US start-up cracked the code to 3D print not just fast-curing plastics, but slow-curing ones too. These slow-curing polymers are like the superheroes of materials–super elastic, durable, and robust. Now, they're building robots with bones, ligaments, and tendons all in one go! Imagine a robotic hand that bends and flexes like it has its own mind. They call it thiolene polymers, and it's a game-changer. No more worries about injuring humans or handling fragile stuff–these soft robots got your back!
But here's the cool twist–they upgraded the 3D printing process. Instead of scraping off imperfections layer by layer, they added a 3D laser scanner. It scans each layer, spots any hiccups, and adjusts in real-time. No more smoothing, just printing perfection. Inkbit, an MIT spin-off, led the charge, and ETH Zurich researchers fine-tuned it. Now, they spilled the secrets in the journal Nature. ETH Zurich is dreaming up more mind-blowing structures, while Inkbit plans to roll out this 3D printing wizardry to the world. Welcome to the future, where robots are born with a high-tech 3D printer!