BITCOIN

BRICS nations should address the risks related to artificial intelligence (AI), Chinese President Xi Jinping said during the group’s summit in South Africa. China’s leader is also convinced that the members of the economic bloc must work to standardize the technology. BRICS Should Strive for AI Standardization, Chinese President Suggests BRICS members should resist the risks stemming from the implementation of AI technology and work together on its standardization, China’s head of state, Xi Jinping, said at a plenary session of the BRICS summit in Johannesburg. He was quoted by the Russian Tass news agency as stating: It is necessary to jointly work on lowering the risks related to employment of AI technology and develop the standards of its employment for making AI more secure, reliable and manageable. Xi also highlighted the key role of a BRICS working group in the cooperation and exchange of information on various issues connected with the adoption of technologies based on ar

The Solana-based digital asset exchange announced on Aug. 23 that it is planning the “most fair” token launch in the history of Solana. According to Cypher, part of the funds raised via the initial decentralized offering will be used “to sustain protocol development, pay for audits to relaunch the protocol, and initiate a treasury for the protocol.” August Hack Prompts IDO Cypher, the Solana-based decentralized exchange, said on Aug. 23 that it would kickstart what it called the most fair token launch in the history of Solana. In a statement issued by the Cypher team via the social media platform X (formerly Twitter), the launch is part of steps being taken to make whole all users who suffered when the exchange was hacked on Aug. 7. According to a blog post titled Loss of Funds Resolution, the token sale followed “a pro-rata redemption package of current assets in the Cypher protocol.” Such assets would be redeemed via wallets “that [are] associated to margin accounts on cypher.”

The BRICS leaders stress “the importance of encouraging the use of local currencies in international trade and financial transactions” in their declaration released at the conclusion of their 15th annual summit. In addition, the BRICS nations have tasked their finance ministers and central bank governors to “consider the issue of local currencies, payment instruments, and platforms.” BRICS Declaration and Use of Local Currencies The BRICS nations (Brazil, Russia, India, China, and South Africa) wrapped up their 15th annual summit on Thursday in Johannesburg. The three-day summit was held under the theme: “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism.” The BRICS leaders released their “Johannesburg II Declaration” at the conclusion of the summit. The declaration states that all leaders of the BRICS nations are committed to “strengthening the framework of mutually beneficial BRICS cooperation.” Emphasizing that t

Using blockchain can potentially minimize intermediary expenses incurred by players in the hospitality industry because the technology makes it possible to facilitate direct connections between users and hotels, Bernard Lau, CEO of Staynex and LABS Group, has said. Lau, whose company focuses on onboarding resorts & hotels to Web3, argued that non-fungible tokens (NFTs) can be used to enhance hotels’ product offerings “particularly in the realm of loyalty membership rewards.” Using Blockchain to Eliminate Intermediaries With respect to timeshares , also known as vacation ownerships, Bernard Lau told Bitcoin.com News that the blockchain’s key attributes can effectively help lower the costs of such ventures. In addition, when their ownership is more transparent, timeshares can still turn out to be an “interesting concept” just as they were in the past, the CEO added. Lau also spoke of how artificial intelligence (AI) can be used to curate optimal selections, itineraries, and pric

The BRICS members are mulling over the possible launch of a common unit of account, Russia’s Minister of Finance Anton Siluanov unveiled. This would be an alternative to the U.S. dollar that can be used to denote the cost of some commodities, for example, but not a single currency like the euro, the Russian official explained. BRICS States Focused on Trade in National Currencies, See Potential in Unified Settlement Systems The BRICS countries (Brazil, Russia, India, China, and South Africa) are discussing the possibility of creating a common unit of account that would serve as an alternative to the U.S. dollar, Minister Siluanov told the Chinese state-run CGTN TV channel during the BRICS summit. Leaders of the BRICS member states are meeting in Johannesburg on Aug. 22-24, with Russian President Vladimir Putin joining via video link , to discuss the future moves of the group. The prospect of issuing a single currency for the bloc, which unites leading emerging economies, is one of