OpenAI and the Korea Development Bank (KDB) have partnered to support the growth of South Korea’s AI ecosystem. The collaboration aims to develop AI models specifically designed for the Korean language and enhance the country’s position in the global AI landscape.
KDB views AI as a critical driver of national competitiveness and will assist OpenAI in navigating the local market by acting as a coordinator for government affairs. The partnership reflects a shared vision to advance South Korea’s technological and economic future through AI innovation. That move also highlights South Korea’s commitment to becoming a leader in the AI industry, with OpenAI playing a key role in advancing these goals.
The growing impact of AI is also evident in South Korea’s search engine market, where AI-driven technologies are changing how users access information. Naver, the leading domestic search engine, has experienced a decline in market share, while global search engines like Google, which integrate AI features such as OpenAI’s ChatGPT, have seen growth.
Why does it matter?
That shift signifies a broader transformation in the digital landscape, as AI-enhanced search engines provide more personalised and summarised answers, moving away from traditional lists of information. The increasing adoption of AI in search engines underscores the growing influence of AI on various industries in South Korea.
The Swiss canton of Bern’s parliament has approved a motion to commission a report on Bitcoin mining, despite opposition from the Government Council. The report, which passed with 85 votes in favour and 46 against, will explore the potential benefits and drawbacks of Bitcoin mining in the region. Specifically, it will assess how excess energy could be used for mining, the possible collaboration with Swiss Bitcoin miners, and how it could contribute to stabilising the local electricity grid.
Proponents of the report argue that Bitcoin mining could offer several advantages, including job creation, promotion of renewable energy, and grid stability, with the US state of Texas serving as a model. Despite the Government Council’s reservations, the proposal was supported by members of the Bitcoin Parliamentary Group, signalling a shift in the narrative around Bitcoin.
The report is part of a broader effort to shape Swiss energy policy and integrate Bitcoin mining into it, though the Government Council has pointed out that the issue of energy consumption is a global one, not local. Still, Switzerland’s reputation as a pro-crypto country remains intact, with cities like Zug and Lugano playing key roles in the blockchain industry.
Crystal Intelligence and Dubai Police have collaborated to address economic crimes within the rapidly growing digital asset space. By combining advanced blockchain analytics with law enforcement expertise, the two entities aim to predict and prevent financial crimes, ensuring robust security within the digital asset ecosystem.
That collaboration reflects Dubai’s commitment to remaining at the forefront of global blockchain innovation. Moreover, as part of its broader strategy, the UAE, particularly Dubai, has positioned itself as a leader in digital assets by creating a regulatory framework that fosters innovation while ensuring security and compliance.
Notably, establishing the Virtual Assets Regulatory Authority (VARA), the world’s first regulator for virtual assets, has attracted numerous blockchain companies and service providers to the city, further solidifying Dubai’s role as a central hub for digital assets. This collaboration also involves strengthening Dubai Police’s capabilities through Crystal Intelligence’s advanced tools in transaction monitoring, risk management, and predictive analytics.
Why does it matter?
These tools will enable law enforcement to proactively detect and address fraudulent activities across blockchain networks, thereby ensuring the integrity of Dubai’s digital asset market. By combining regulatory foresight with cutting-edge technology, Dubai demonstrates its leadership in integrating innovation with security. Ultimately, this partnership sets a new global standard for digital asset security and offers a model for other jurisdictions to follow as they navigate the complexities of financial crimes in the digital asset space.
Microsoft and Atom Computing have announced a significant breakthrough in quantum computing that could revolutionise blockchain mining. The two companies developed a quantum system with 24 entangled logical qubits using just 80 physical qubits, setting a new record in quantum efficiency. This achievement could eventually lead to a transformation in the world of proof-of-work (PoW) blockchain mining, as quantum systems become capable of outperforming traditional mining methods.
The advancement is especially notable for its potential to impact the security of blockchain networks like Bitcoin, which rely on SHA-256 encryption. Quantum computers, by applying Grover’s Algorithm, could significantly speed up the process of solving the PoW puzzle, threatening the security measures that have safeguarded blockchain technology. While Grover’s Algorithm has shown promise in small-scale experiments, it has yet to be proven on the large scale required for cracking SHA-256 encryption.
Though the timeline for practical quantum mining remains uncertain, with experts predicting it could take 10 to 50 years, Atom Computing and Microsoft aim to bring a 1,000-qubit quantum computer to market as early as 2025. This breakthrough could drastically shorten the path to quantum systems capable of rivaling traditional mining rigs.
India-based audio platform Pocket FM is leveraging AI to enrich its content offerings and scale its production capabilities. Despite hosting over 200,000 hours of content, CEO Rohan Nayak emphasised the need for deeper genre coverage and original content. The company has partnered with ElevenLabs to convert written stories into audio series, achieving faster production and significant cost savings. AI models are also being used to adapt stories for diverse regions by handling cultural nuances, ensuring broader appeal across geographies.
Pocket FM is testing AI tools to enhance its creative process. These include a writing assistant that provides alternative plot ideas and insights based on platform data, aiming to empower solo writers with a ‘writer’s room’ experience. A ‘blockbuster engine’ is under development to analyse trends and identify potential hit shows, underscoring the platform’s focus on producing popular content. AI has already contributed to more than 40,000 series on the platform, generating $3 million in revenue.
Despite the benefits, Pocket FM acknowledges challenges in maintaining quality while accelerating production. Industry experts caution that reliance on AI might undermine creativity, with artists needing to ensure authenticity in their work. Nayak affirmed that AI tools are intended to complement rather than replace human creativity. Pocket FM, backed by $197 million in funding, competes with platforms such as Audible and Kuku FM while striving to strike a balance between innovation and content excellence.
21Shares, a Swiss wealth manager, has expanded its European offerings by adding four new exchange-traded products (ETPs) focused on various digital assets. Announced on 27 November, the new products are backed by Pyth Network, Ondo, Render, and the Near Protocol, representing sectors such as price oracles, asset tokenisation, decentralized computing, and artificial intelligence. These additions are part of a broader push by 21Shares to meet growing demand for crypto investment options in Europe.
The new ETPs, available for trading in cities such as Amsterdam and Paris, offer more flexibility, including the ability for investors to reinvest staking rewards from the Near Protocol ETP. By participating in Near’s proof-of-stake blockchain, investors can earn yield, potentially improving the performance of the ETP and driving greater returns.
This move follows 21Shares’ call for clearer regulatory guidelines for digital asset products in Europe. The company has been vocal about the need for comprehensive regulation, especially concerning crypto exchange-traded funds (ETFs) and ETPs. Despite progress with stablecoin and exchange regulations, 21Shares believes the European Securities and Markets Authority could play a key role in bridging these regulatory gaps.
The introduction of these new ETPs also builds on 21Shares’ earlier rebranding of its Ethereum Core ETP, which now includes staking rewards, reinforcing the company’s focus on enhancing returns for investors in the evolving crypto market.
European chip equipment stocks surged on Thursday following reports that upcoming US restrictions on China’s semiconductor industry might be less stringent than anticipated. Shares of ASML, a leading supplier of semiconductor tools, rose by 4.3%, while competitors BE Semiconductor and ASM International climbed 5% and 2.9%, respectively, outperforming the STOXX 600 index.
According to Bloomberg, the US may exclude Chinese memory chipmaker ChangXin Memory Technologies (CXMT) from its trade restrictions, though details remain uncertain. The US Commerce Department, which oversees export rules, is expected to release updated guidance after Thanksgiving.
ASML, which has seen a sharp decline in sales to China over recent quarters, declined to comment. The company previously projected that sales to China would shrink to 20% of its revenue by 2025, down from nearly half in the last 18 months. Other global semiconductor equipment suppliers, including US-based Applied Materials and Tokyo Electron, are also closely monitoring the situation.
India’s cryptocurrency market is thriving despite the government imposing high taxes on crypto trading. Since the implementation of a 30% tax on crypto gains and a 1% tax deducted at source in 2022, the community has shown resilience, maintaining its position as a global leader in adoption, according to the Chainalysis Global Adoption Index.
Driven by its youthful, tech-savvy population, India is home to over 100 million crypto owners in 2024. Local exchanges like ZebPay and CoinDCX highlight how seamless conversion systems and blockchain interest are fuelling growth, even under challenging tax policies. However, experts argue these taxes deter frequent trading and could hinder broader participation.
Industry leaders and analysts believe India’s crypto ecosystem has yet to realise its full potential. Calls for a more flexible regulatory framework are growing, with hopes that reforms could further energise the market and secure India’s leadership in cryptocurrency adoption.
Ai2, a nonprofit AI research group, has introduced OLMo 2, a groundbreaking series of open-source language models designed for transparency and reproducibility. The models, developed using open-access data and tools, align with the Open Source Initiative’s standards for AI, setting them apart from many competitors.
The OLMo 2 series includes two versions: one with 7 billion parameters and another with 13 billion, making them powerful tools for tasks like summarising documents, answering questions, and generating code. Trained on a dataset of 5 trillion tokens sourced from websites, academic papers, and other vetted materials, the models perform competitively against Meta’s Llama 3.1.
While some critics voice concerns about potential misuse of open models, Ai2 argues their benefits outweigh the risks. By making the models freely available under an Apache 2.0 license, the organisation hopes to democratise AI development and promote ethical innovation.
OKX, a leading cryptocurrency exchange, has expanded into Belgium by launching its trading platform and self-custodial wallet. The new services offer Belgian customers access to over 200 cryptocurrencies, with euro deposits and withdrawals facilitated through Bancontact, a widely used payment system in the country.
Operating through its Malta-based entity, OKX provides services to Belgium under EU regulations without direct approval from Belgian authorities. Customers can trade after completing verification via the Itsme identification app, ensuring secure and compliant access.
With 25% of Belgians already engaged with cryptocurrency, OKX’s launch comes amid growing interest in digital assets. By 2028, crypto penetration in Belgium is projected to reach 28%. OKX’s entry aligns with its broader European expansion strategy, which includes prior launches in the Netherlands and plans for an EU regulatory hub in Malta.
