What Happened In The IT Industry In September
Mastercard launched customized NFT cards, the Central Banks of some countries created a hub for CBDC, and Mercedes introduced a concept car with a neural interface for processing human thoughts.
Glossary
IT Industry
Web3 is a concept for the development of the next generation of the Internet, which is based on the idea of decentralization. It is assumed that in the Web3 era, people will not only become full owners of their content, but will also be able not to disclose their personal data, and the Internet itself will become more open and safe.
Blockchain is a distributed database that contains information about all transactions carried out by system participants. Information is stored as a chain of blocks. Each of them contains a certain number of transactions.
SWIFT (Society for Worldwide Interbank Financial Telecommunications) is an international system for transmitting financial messages between banks.
CBDC (Central Bank Digital Currency) is the concept of a digital analog of the fiat currency of the state.
IT Industry
Blockchain oracles are services that connect blockchains with data from the outside world: other blockchains, trading platforms, cloud providers, IoT devices, and payment systems. Blockchain oracles check the execution conditions of smart contracts.
Y Combinator is a business incubator for IT startups.
Trends of the month: the democratization of Web3, vertical neobanks, and cross-border settlements through cryptocurrencies
Mastercard and fintech startup hi has launched the world’s first debit card with NFT avatar personalization. You can set up an NFT avatar on the Mastercard platform, and then issue a card with the corresponding image. You can use the card for both fiat and cryptocurrency payments. The payment system also announced the Crypto Secure AI tool, which will allow you to identify transactions with crypto exchanges.
The Central Banks of Israel, Norway, and Sweden, together with the Bank for International Settlements (BIS), are exploring the possibility of using CBDC (digital fiat currency) for international retail payments and money transfers – for this, the organizations have created a separate hub. The goal of the project is to test the key features and technological capabilities of immediate retail payments across borders at a significantly lower cost than existing systems, which are typically based on correspondent banking systems.
SWIFT thinks about blockchain: An interbank cooperative is working on a pilot project to bring network interoperability across multiple blockchain platforms together with Chainlink’s blockchain-based decentralized oracle network. As an initial proof of concept, the organizations developed CCIP, a protocol for transferring tokens on-chain. In addition, together with the fintech company Symbiont, SWIFT launched a corporate news exchange pilot in test mode.
In Russia, they are adapting to digital assets: companies are mastering cross-border settlements through cryptocurrency, and the Atomize asset tokenization platform has even released the country’s first DFA (digital financial asset) for a basket of seven precious metals.
As a result of the summer session of Y Combinator, it became clear that digital banks have shifted their focus to niches. Most are looking towards vertical offers – serving one specific category of consumers. For example, Moneco offers a bank for migrants from Africa, Tank is a neobank for fast payments to cargo carriers, and India launched the first bank for couples.
What is BCI
IT Industry
Brain-Computer Interface is a technology for exchanging information between the brain, the human central nervous system, and external devices. For example, a computer, telephone, exoskeleton, or household appliances. Today, BCI is used to solve problems in the social sphere, but for business, neurotechnologies can become a way to identify unconscious and hidden human reactions.
Who is interested in Technology And IT Industry
In February 2021, Elon Musk shared the test results of his sponsored startup Neuralink. The entrepreneur said that as part of the project, scientists successfully implanted a chip into the brain of a monkey that allows it to play video games with the “power of thought”. Over the past year, progress has not been left aside, and clinical trials have begun on humans.
IT Industry
The Synchron company for the first time implanted a neural interface into the brain of a person with amyotrophic lateral sclerosis, ahead of Elon Musk in this direction. The organization hopes that the patient will be able to control electronic devices and respond to emails.
The technology is developing not only for medical purposes – they want to use it in the development of computer games. Since 2021, the American company Valve has been developing a device that will combine the functions of BCI and VR. It is worth noting that some automakers are also interested in BCI. One of them is Mercedes. The German concern presented the Vision AVTR in Zurich, a concept car equipped with a neural interface for processing human thoughts on the control panel. The driver thinks – the car reacts.
Startups of the Month: Onuu and Mana VR
IT Industry
Onuu is a financial health subscription. The American fintech project offers savings accounts, Visa debit and credit cards, life insurance, and budgeting tools to “democratize access to financial security.” The startup also provides an AI assistant that evaluates the user’s financial behavior and generates personalized recommendations to achieve financial well-being.
Mana VR is a banking solution in the metaverse. That’s a big change in IT Industry, Fintech startup Mana, which develops a banking app and debit cards for gamers has launched a Mana VR banking solution for the metaverse. It allows you to view your current balance, check your transaction history, and transfer funds in an immersive environment. The Mana VR app is available on SteamVR and SideQuestVR.
For More Updates Click Here.