Blockchain
Time Enters Deal with OpenAI Amid Fresh Nonprofit Lawsuit
OpenAI and Time have signed a multi-year content agreement, allowing the Artificial Intelligence (AI) company to train its models on Time’s extensive archive. Concurrently, OpenAI and Microsoft face a new lawsuit from the Center for Investigative Reporting over alleged unauthorized use of copyrighted materials for AI training.
Time Partners with OpenAI for AI Training
Time has partnered with OpenAI to license over a century of its content for AI training. This deal, first reported by Axios, is set to enhance OpenAI’s model capabilities using Time’s vast repository of articles and news. In return, Time is expected to receive advanced AI tools and potentially financial compensation, marking a significant collaboration between the tech and media industries.
This agreement is part of OpenAI’s broader strategy to expand its data sources and improve AI models. Access to Time’s historical data will provide a rich dataset for refining AI algorithms, enabling more accurate and diverse outputs.
Moreover, Time’s involvement in this agreement signifies its strategic move towards embracing advanced technologies. The magazine aims to leverage AI tools to enhance its digital presence and operational efficiency. This partnership will create a symbiotic relationship, benefiting both parties through shared technological advancements.
Also Read: OpenAI CTO Mira Murati Says Realizing AI’s Potential Is Not Guaranteed
Legal Battle Intensifies Over AI and Copyright
While OpenAI is expanding its content partnerships, it faces a new legal challenge from the Center for Investigative Reporting (CIR). The nonprofit organization, which recently merged with Mother Jones and produces the Reveal news site, filed a lawsuit against OpenAI in New York on June 27. The lawsuit alleges unauthorized use of CIR’s copyrighted materials for AI model training without permission or compensation.
CIR’s CEO, Monica Bauerlein, expressed concerns over the implications of such use, describing it as “immensely dangerous” for the journalism industry. Bauerlein emphasized that the unauthorized use of their content undermines the value of their work and threatens the sustainability of their operations. CIR argues that AI-generated news summaries, derived from their copyrighted material, erode the direct relationship between news organizations and their audiences.
This lawsuit joins a growing list of legal actions against OpenAI and Microsoft. Other prominent media organizations, including the New York Times, New York Daily News, Chicago Tribune, and Denver Post, have filed similar lawsuits. These cases highlight a broader industry concern regarding using copyrighted content for AI training and the potential impact on traditional news media.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
In a significant breakthrough for blockchain technology, Head of Strategy at Solana, Austin Federa, weighed in on a new feature called ZK Compression. This innovative development promises to drastically reduce the cost of on-chain account storage. Hence, it addresses one of the key challenges faced by institutions and mass-consumer applications.
Solana Dev Spotlights Cost Advantages Of ZK Compression
“Compression on Solana solves one of the key pain points faced by institutions and mass-consumer applications: the cost of on-chain account storage,” stated Federa. The high cost of storing data on the blockchain has been a major barrier for businesses looking to leverage blockchain technology for large-scale applications. Thus, with ZK Compression, these costs are slashed, making it feasible to onboard millions of users onto the blockchain.
Moreover, Federa highlighted the staggering cost savings with generalized compression. For instance, creating a 100-byte PDA account typically costs about 0.0016 SOL. With ZK Compression, this cost plummets to approximately 0.00001 SOL, making it 160 times cheaper. Similarly, the cost of creating 100 token accounts drops from around 0.2 SOL to just 0.00004 SOL, a reduction of 5000x.
Furthermore, these cost reductions are not merely theoretical. Federa emphasized the practical implications for businesses. The Solana exec explained, “If you’re a business who wants to bring 450 million users on chain with tokens, that could cost tens of millions of dollars to reserve that account space. Thanks to generalized compression, that cost is now just ~$25k.” This dramatic decrease in costs opens up new possibilities for large-scale blockchain adoption.
Also Read: Canada’s 3iQ Under Fire For Misleading Solana ETF Claims, What’s Happening?
Other Features Of ZK Compression
ZK Compression is not just about cost savings. It also maintains the high security and performance standards of the Solana blockchain. Moreover, the compressed data is stored securely on a cheaper ledger space, while execution and data availability remain on Solana’s L1. This ensures that users benefit from the same level of security and performance as before.
Through ZK Compression on Solana, developers and users can significantly reduce on-chain storage costs by compressing their reserves. In addition, this approach maintains the security, performance, and composability of the Solana Layer 1 blockchain. This flexibility allows developers to choose between regular and compressed on-chain states.
Hence, it enables seamless interaction with multiple programs, accounts, and compressed accounts. The development of ZK Compression is a testament to the collaborative spirit within the Solana ecosystem. Federa pointed out that the project brought together Light Protocol and Helius Labs, two entities with different initial focuses.
He wrote, “The launch of generalized Compression on Solana is a case study in supporting world-class founders, no matter what they are building at the time. Light Protocol began as a privacy layer on Solana, Helius Labs an rpc provider. I think two years ago it would have been pretty hard to predict they’d collaborate to build something like this.”
Light Protocol, in their announcement on X, highlighted the transformative potential of this new technology. They noted, “Today, we launch the next generation of Light. Together with Helius Labs. At its core, a new primitive: Tokens and accounts: orders of magnitude cheaper, while enabling native ZK compute on Solana. We call it: ZK Compression.”
Also Read: Why Solana (SOL) May Trigger a Bull Run Soon?
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
- Flare partners with Kinetic, revolutionizing DeFi lending/borrowing on blockchain.
- Users benefit from liquidity incentives; Kinetic offers over-collateralized borrowing.
- Rome Blockchain Labs facilitates Kinetic launch, leveraging Flare’s oracles for accurate prices.
Blockchain for data, Flare, and lending platform Kinetic, backed by Rome Blockchain Labs, have announced a strategic partnership set to revolutionize decentralized finance (DeFi).
This collaboration aims to introduce lending and borrowing capabilities to the Flare ecosystem, deepening liquidity and fostering a robust DeFi experience.
Powering DeFi with seamless lending and borrowing
Flare, recognized as the blockchain for data, has entered into a groundbreaking partnership with Kinetic, a lending and borrowing platform supported by Rome Blockchain Labs. The collaboration focuses on providing Flare users with a streamlined platform for participating in DeFi, offering the potential to earn block rewards by utilizing their digital assets.
Flare users contributing assets to the platform stand to benefit from incentivized and natural yield through liquidity provisioning.
Kinetic’s lending and borrowing platform operates in an over-collateralized structure, with borrowers enjoying additional perks such as interest rebates and exclusive Discord channel access. Rome Blockchain Labs (RBL), with its extensive experience in creating custom financial markets on various blockchain networks, will facilitate the launch of Kinetic.
The technical infrastructure and design provided by RBL will be instrumental in realizing the seamless integration of lending and borrowing capabilities within the Flare ecosystem.
Integration with FAssets:
The partnership further entails Kinetic leveraging Flare’s native price oracle, the Flare Time Series Oracle, for decentralized asset prices. This integration ensures highly accurate and frequently updated price feeds, laying the foundation for a secure and responsive DeFi experience on the Flare network.
In addition, Kinetic plans to integrate FAssets developed by Flare Labs, enabling traditionally non-smart contract tokens like bitcoin (BTC), ripple (XRP), and dogecoin (DOGE) to actively participate in DeFi activities. This integration marks a significant step in bridging traditional cryptocurrencies with advanced DeFi functionalities, enriching the lending and borrowing landscape.
Kinetic is committed to user security and technological excellence, demonstrated through strategic partnerships in the DeFi landscape. The platform aims for decentralization, seeking to eliminate KYC restrictions while remaining accessible in regions with regulatory uncertainty. Collaborations with Rome Blockchain Labs, Watchpug, and Immunefi underscore Kinetic’s dedication to robust technological infrastructure, smart contract audits, and bug bounty programs.
The initial launch on Flare’s testnet, Coston2, will provide users with a dynamic environment to engage, provide feedback, and gain insights into the innovative decentralized lending and borrowing platform.
- Tether has announced it invested in the Series A round of the Academy of Digital Industries, an educational platform in Georgia.
- The ongoing financial investment will help support the “real world” education about blockchain, bitcoin, stablecoins and P2P technologies, Tether CEO Paolo Ardoino said.
Tether Operations Limited, the company behind the USDT stablecoin, has made an undisclosed investment in the Series A round of Academy of Digital Industries, a Georgia-based education platform.
The investment in the educational platform follows recent initiatives aimed at promoting blockchain innovation in Georgia. This program is expected to be an ongoing one, with Academy receiving long term financial assistance, Tether said in an announcement on Friday.
Tether steps into education business
According to Tether, the partnership offers the Georgian platform the opportunity to tap into the stablecoin issuer’s global network and expertise as it brings Bitcoin, stablecoins, AI and P2P technologies to students.
The collaboration and investment into the Academy of Digital Industries is also part of Tether’s commitment to support financial freedom and innovation globally, Tether CEO Paolo Ardoino said.
“Tether is a strong believer in financial freedom, freedom of communications, and freedom of education. High quality, accessible, and unbiased education is one of the most important pillars for the future of humanity,” he noted.
In a comment posted on X, the Tether boss said the company “is stepping into the education business.” He added:
“This is Real World Education, not “yet another couple of blockchain and defi courses” play.”
#tether is stepping into the education business.
This is Real World Education, not “yet another couple of blockchain and defi courses” play.
Academy of Digital Industries has proven their unique aproach to offline+online education, expanding rapidly across a vast variety of… https://t.co/715jfGfxY8
— Paolo Ardoino 🤖🍐 (@paoloardoino) December 22, 2023
Apart from the partnership, Tether also revealed an educational program dubbed “Mastering the Blockchain,” had been completed. This is the first such initiative in Georgia, which was made possible in collaboration with the Georgian Agency for Innovation and Technology (GITA) and Business and Technology University.
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