Digital business models Archives | Page 413 of 581

Ghana plans to regulate digital assets with new legislation

Ghana’s central bank is set to regulate the digital asset space later this year, pending the passage of key legislation. Governor Johnson Asiama announced at the African Leaders and Partners Forum during the IMF-World Bank Spring Meetings in Washington.

He stated that the Bank of Ghana (BoG) is committed to fostering digital asset adoption while ensuring consumer protection through appropriate regulation.

The proposed Virtual Asset Providers Act, currently under review by parliament, will give BoG oversight authority over virtual asset service providers (VASPs), requiring them to obtain a licence. The law also aims to prevent illicit crypto use, ensure financial stability, and protect consumers.

Additionally, the Securities and Exchange Commission (SEC) will play a role in regulating the sector.

Once the legislation is passed, the Bank of Ghana plans to establish a dedicated digital asset unit. Despite the absence of regulation, Ghana has already seen considerable uptake of digital assets. Approximately 3.1 million Ghanaians own digital assets, equating to 17% of the population.

The country ranks fourth in Africa for crypto interest, trailing Nigeria, South Africa, and Kenya.

In addition to digital asset regulation, Ghana is pushing forward with the launch of its central bank digital currency (CBDC), the eCedi. Asiama said the digital currency will modernise payments, protect sovereignty, and support digital transformation for Ghana’s youth.

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China boosts tourism with AI innovations

China’s tourism industry is undergoing rapid transformation as AI technologies become increasingly integrated into both national platforms and regional services. Instead of relying solely on traditional travel planning, tourists can now receive personalised itinerary suggestions in seconds.

Major platforms such as Trip.com use large AI models to assist users before, during and after their journeys—cutting decision-making time from 9 to 6.6 hours, according to Chairman Liang Jianzhang.

Several provinces and cities, including Guizhou and Shanghai, have launched their own AI tourism agents with distinct local features. Guizhou’s Huang Xiao Xi, a digital assistant in ethnic attire, offers tailored travel plans and food ordering options instantly.

Meanwhile, Shanghai’s Hu Xiao You connects tourists with real-time data about venues, traffic, and public amenities, learning from user feedback to improve recommendations over time.

Instead of overwhelming tourists with raw data, these AI agents streamline access to relevant information for a more efficient travel experience.

The rise of wearable AI guides and immersive tech, such as VR, AR, and 3D projections, has also transformed visits to museums and exhibitions. Visitors can now interact with holographic historical figures or animated ancient artworks, blending culture with innovation.

Rather than replacing traditional tourism, China is revitalising it through technology, aiming for improved digitisation, automation and smarter services that meet local development goals.

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Hackers hijack NY Post X account to scam crypto users

Cybercriminals reportedly breached the New York Post’s X account. They targeted cryptocurrency enthusiasts by luring them into a Telegram-based scam, disguised as a podcast invitation.

The fraudulent message, impersonating journalist Paul Sperry, invited users to a supposed editorial feature, offering both in-person and virtual interview options.

Kerberus CEO Alex Katz flagged the issue, confirming the scam was being pushed from NYP’s verified X profile.

Cybersecurity expert ‘Drew’ noted the attackers blocked replies to prevent the real NYP team from spotting the breach. He warned users not to respond to Telegram messages, emphasising that the invite was fake.

Unlike typical crypto scams involving phishing links or wallet drainers, this attack focused on private messaging and trust manipulation.

Victims reported that the scammer used detailed, personal references and staged interviews. These interviews enabled audio-triggered suspicious pop-ups, including one labelled ‘WiFi.’

Security experts say such methods exploit user trust built through prior interactions. As social engineering tactics evolve, crypto users are urged to verify every identity, even those they communicate with regularly.

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OpenAI expands developer tools with Windsurf purchase

OpenAI, the creator of ChatGPT, is reportedly set to acquire Windsurf, an AI-powered coding assistant formerly known as Codeium, for $3 billion, according to Bloomberg. If confirmed, it would be OpenAI’s largest acquisition to date.

The deal is still pending closure, but it follows recent investment talks Windsurf held with major backers such as General Catalyst and Kleiner Perkins, valuing the startup at the same amount.

Windsurf was last valued at $1.25 billion in 2024 after a $150 million funding round. Instead of raising more capital independently, the company now appears poised to join OpenAI, which is looking to bolster its suite of developer tools within ChatGPT.

The acquisition reflects OpenAI’s efforts to remain competitive in the fast-evolving AI coding landscape, following earlier purchases like Rockset and Multi last year.

OpenAI also revealed it would scale back a planned restructuring, abandoning its proposal to become a for-profit entity.

The decision comes amid growing scrutiny and legal challenges, including a high-profile lawsuit from Elon Musk, who accused the firm of drifting from its founding mission to develop AI that serves humanity.

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Trump to hold crypto dinners for top token holders

Donald Trump is hosting two crypto-themed dinners in May, raising ethical concerns among lawmakers. A $1.5 million-per-plate ‘Crypto & AI Innovators Di n ner‘ was held at his Virginia golf club, featuring guests such as David Sacks.

He also confirmed a 22 May gala for top holders of the $TRUMP meme coin. The top 220 wallets qualify, with the highest 25 promised a private reception and a White House tour. Access is based solely on wallet holdings, most of which are pseudonymous.

Lawmakers, including Senator Elizabeth Warren, accuse Trump of selling access. She also criticised the Trump-linked stablecoin USD1, co-founded by his son Eric, calling it a vehicle for personal gain.

Watchdogs warn that the token system lacks transparency and may involve foreign actors. Despite the backlash, $TRUMP tokens surged by over 50% after announcing the dinner.

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Nvidia opens new quantum research centre in Boston

Nvidia has unveiled plans to open the Nvidia Accelerated Quantum Research Center (NVAQC) in Boston, a facility set to bridge quantum computing and AI supercomputing.

Expected to begin operations later this year, the centre aims to accelerate the shift from experimental to practical quantum computing.

Rather than treating quantum hardware as a standalone endeavour, Nvidia intends to integrate it with existing AI-driven systems, believing this combination could unlock solutions to problems unsolvable by today’s machines.

Quantum computing—much like AI in its early stages—fits naturally with Nvidia’s core strength: parallel processing. Instead of continuing to rely on traditional serial computing, the company has long embraced parallelism through its GPU technology and CUDA software platform.

Nvidia’s success in transforming GPUs from graphics engines into tools for scientific and commercial applications began with its bold decision to make CUDA available across all its products, even at the cost of short-term profit margins.

Nvidia now sees quantum error correction as the next major challenge. Current quantum computers, operating with between fifty and one hundred qubits, face a high error rate due to environmental ‘noise.’

Achieving truly useful systems will require a million qubits or more, most of which will be used for error correction. Instead of depending solely on traditional methods, Nvidia plans to use AI to develop scalable solutions capable of correcting errors in real time.

The Boston-based NVAQC will serve as a testing ground for these innovations. Harvard, MIT, and quantum startups like Quantinuum and QuEra will collaborate with Nvidia’s quantum team to train AI models for error correction and test them using Nvidia’s top-tier supercomputers.

By doing so, Nvidia hopes to make quantum computing not just viable, but powerful and practical at scale.

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Gemini AI now accessible to kids via Family Link

Google has announced that children under the age of 13 will soon be able to access its Gemini AI chatbot through Family Link accounts. The service will allow parents to monitor their child’s use, set screen time limits, and disable access if desired.

Gemini, designed to assist with tasks like homework and storytelling, includes safeguards to prevent inappropriate content and protect child users. Google acknowledged the possibility of errors in the AI’s responses and urged parental oversight.

Google emphasised that data collected from child users will not be used to train AI models. Parents will be notified when their child first uses Gemini and are advised to encourage critical thinking and remind children not to share personal information with the chatbot.

Despite these precautions, child safety advocates have voiced concerns. Organisations such as Fairplay argue that allowing young children to interact with AI chatbots could expose them to risks, citing previous incidents involving other AI platforms.

International bodies, including UNICEF, have also highlighted the need for stringent regulations to safeguard children’s rights in an increasingly digital world.

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IBM boosts US manufacturing with $150 billion pledge

IBM has announced a major $150 billion investment in the US over the next five years, with a significant portion earmarked for expanding production of quantum computers and mainframes.

The move follows similar commitments from tech giants like Nvidia and Apple, as industry leaders respond to the Trump administration’s push for increased domestic manufacturing.

Of the total sum, more than $30 billion will be dedicated to scaling up IBM’s US-based manufacturing of quantum systems and mainframes, vital for processing vast data and critical tasks.

IBM, which operates one of the world’s largest quantum computing fleets, stated the investment reflects both technological ambition and a strategic gesture towards current US trade policies.

While the quantum computing field has seen exciting advancements, including new chip generations from rivals like Google, opinions remain divided on when practical applications will emerge.

IBM’s latest investment signals long-term confidence in the technology, even as the company navigates recent challenges, including the cancellation of 15 government contracts during federal cost-cutting efforts.

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Microsoft retires Skype, urges switch to Teams

Microsoft has officially retired Skype as of 5 May 2025, closing a chapter in the history of digital communication. The change affects both free and paid users, although “Skype for Business” users will not be impacted.

Users are now encouraged to switch to the free version of Microsoft Teams. By signing in with their Skype credentials, they can automatically transfer their contacts and chat history.

Those who prefer not to continue with Teams have the option to export their Skype data.

Launched in 2003, Skype revolutionised online communication and, by 2008, was the largest provider of international voice calls, holding an 8% share of global call volume.

At its peak in 2011, Skype boasted 140 million monthly users worldwide.

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Some iPhones lose WhatsApp support

WhatsApp has officially ceased support for older iPhone models starting 5 May 2025. Devices running iOS versions earlier than 15.1, including the iPhone 5s, iPhone 6, and iPhone 6 Plus, will no longer be able to use the messaging platform. These models are limited to iOS 12.5.7 and cannot receive further updates.

The move comes as part of WhatsApp’s ongoing efforts to bolster user security and keep pace with advancing technology.

By discontinuing support for devices that no longer receive security patches from Apple, the company aims to reduce vulnerabilities and provide a safer user experience.

While newer models like the iPhone 8 and iPhone X remain compatible for now, users are advised that these devices may also lose support soon as Apple has stopped issuing software updates for them. Apple has already classified the iPhone 5s, iPhone 6, and iPhone 6 Plus as obsolete.

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