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Category: finance – Page 111

We’re continuing to release talks from Ending Age-Related Diseases 2019, our highly successful two-day conference that featured talks from leading researchers and investors, bringing them together to discuss the future of aging and rejuvenation biotechnology.

James Peyer of Kronos BioVentures gave a talk about the investment aspects of rejuvenation biotechnology, first explaining the effects of the population pyramid, showing the audience why cures for age-related diseases are such a necessity, and comparing population projections. He explained the startup ecosystem in biotechnology, drug approval, and IPO prices for nascent biotechnology companies. Finally, he explained the financial issues facing startup biotechnology companies and his company’s role in helping these companies achieve their goals.

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Scientists have managed to send a record-breaking amount of data in quantum form, using a strange unit of quantum information called a qutrit.

The news: Quantum tech promises to allow data to be sent securely over long distances. Scientists have already shown it’s possible to transmit information both on land and via satellites using quantum bits, or qubits. Now physicists at the University of Science and Technology of China and the University of Vienna in Austria have found a way to ship even more data using something called quantum trits, or qutrits.

Qutrits? Oh, come on, you’ve just made that up: Nope, they’re real. Conventional bits used to encode everything from financial records to YouTube videos are streams of electrical or photonic pulses than can represent either a 1 or a 0. Qubits, which are typically electrons or photons, can carry more information because they can be polarized in two directions at once, so they can represent both a 1 and a 0 at the same time. Qutrits, which can be polarized in three different dimensions simultaneously, can carry even more information. In theory, this can then be transmitted using quantum teleportation.

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Hackers equipped with black market software are targeting cash machines with dated software and substandard security and walking away with millions over the course of a series of attacks, according to a collaborative investigation by Motherboard and German newsroom Bayerischer Rundfunk. Though law enforcement agencies are tightlipped about the trend, it’s a sign that banks may be surprisingly vulnerable to cybercrime.

Other sources, granted anonymity by Motherboard, described the same trend: “There are attacks happening, but a lot of the time it’s not publicized,” said one.

Plug-And-Play

The German attacks and others throughout Europe seem to be carried out with Russian software called Cutlet Maker, which Motherboard reports can be bought for $1,000. In the U.S., a program called Ploutus. D is more popular.

Both programs can be installed into ATMs through a USB or other physical access point — though the hackers usually need to break into the ATM’s hardware to access it.

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With the move, France will join states around the world rushing to create “digital identities” to give citizens secure access to everything from their taxes and banks to social security and utility bills. Singapore uses facial recognition and has signed an accord to help the U.K. prepare its own ID system. India uses iris scans.

France is poised to become the first European country to use facial recognition technology to give citizens a secure digital identity — whether they want it or not.

Saying it wants to make the state more efficient, President Emmanuel Macron’s government is pushing through plans to roll out an ID program, dubbed Alicem, in November, earlier than an initial Christmas target. The country’s data regulator says the program breaches the European rule of consent and a privacy group is challenging it in France’s highest administrative court. It took a hacker just over an hour to break into a “secure” government messaging app this year, raising concerns about the state’s security standards.

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Digital assets will only continue to grow. With clearer regulation coming in the near future, large financial institutions such as banks and asset managers will have the official ‘stamp of approval’ needed to participate in the market, driving tokenisation of existing asset classes and substantial capital inflows to the sector.

How investment in safekeeping technology will help determine the winners in Asia’s new token economy.

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Ira Pastor, ideaXme longevity and aging ambassador and founder of Bioquark, interviews Ambassador Juan José Gómez Camacho, Mexico’s current Ambassador to Canada, and for the last 3 years, Mexico’s Permanent Representative of the United Nations in New York City.

Ira Pastor Comments:

Today, we are going to talk about a fascinating series of topics related to global population health, and we will start by citing some staggering data.

The World Health Organization (WHO) estimates that there are around 1 billion migrants in the world today. 258 million of them are international migrants and 763 million are internal migrants, that’s one in seven of the world’s population.

68 million of the world’s internal and international migrants are forcibly displaced. This rapid increase of population movement has important public health implications, and therefore requires an adequate response from the health sector as many refugees and migrants often lack access to health services and financial protection for health.

Additionally, although we are only 20 years into the 21st century, it is a century that has already been marked by many major epidemics. Old diseases, such as cholera, plague and yellow fever, have all made a return, and many new ones have emerged including SARS, pandemic influenza, MERS, Ebola and Zika.

Continue reading “International Co-operation to Ensure the Health of all the World’s Citizens” | >

Bank employs AI-powered “digital DNA human”

Arab Banking Corporation (Bank ABC), in collaboration with New Zealand tech company, Soul Machines, has announced the launch of “Fatema” – a fully autonomous AI personality that will assist customers online.

This “digital employee” can accumulate experiences, learn, and respond to people individually, therefore adding human-like qualities to the AI. Fatema will work alongside Bank ABC’s mobile-only digital bank (to be launched by end of this year) to offer a multi-faceted, personalised customer experience.

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Over the next decade, U.S. banks, which are investing $150 billion in technology annually, will use automation to eliminate 200,000 jobs, thus facilitating “the greatest transfer from labor to capital” in the industry’s history. The call is coming from inside the house this time, too—both the projection and the quote come from a recent Wells Fargo report, whose lead author, Mike Mayo, told the Financial Times that he expects the industry to shed 10 percent of all of its jobs.

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Lunar lander developer Intuitive Machines has signed a contract with SpaceX for its first mission to the moon. The company announced this week that a Falcon 9 will launch its Nova-C lander in 2021 as part of a rideshare mission, but terms of the deal were not disclosed. The company won a contract from NASA in May to carry five payloads to the moon on that mission as part of the agency’s Commercial Lunar Payload Services program. Separately, a federal appeals court this week upheld a verdict in favor of the company in a suit against Moon Express, another commercial lunar lander company. That suit, involving work disputes between the companies, led to Intuitive Machines receiving $4.1 million in cash and stock. [SpaceNews]

Maxar Technologies awarded a contract to Deployable Space Systems to manufacture flexible solar arrays for the first element of NASA’s lunar Gateway. The contract this week is for a pair of Roll Out Solar Array solar panels, each capable of producing 32.5 kilowatts of power. The arrays will be used on the Power and Propulsion Element that Maxar is building for NASA that will serve as the foundation for the Gateway in orbit around the moon. [SpaceNews]

A startup planning propellant depots in orbit for refueling satellites has raised $3 million. OrbitFab announced Thursday it raised the seed round of funding from venture capital fund Type 1 Ventures, Techstars and others. The company is working on technology to allow for refueling of satellites using small depots in orbit, and recently tested that technology on the International Space Station. At a conference in Washington earlier in the week, the company said it was still working on raising a funding round but hopes to have its first tanker in orbit by the end of next year. [TechCrunch].

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