NFT News Official TheBitTimes.com

The Nigeria Artificial Intelligence Research Scheme, recently introduced, aims to promote the extensive application of AI to drive economic progress. On Friday, October 13th, the Nigerian Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, unveiled a groundbreaking plan. The government’s intention is to allocate 5 million naira (equivalent to $6,444) to 45 startups and researchers with a profound focus on artificial intelligence (AI). This initiative was publicly disclosed by the minister through a post on X (formerly known as Twitter). It constitutes a pivotal component of the newly introduced Nigeria Artificial Intelligence Research Scheme, which seeks to facilitate the widespread integration of AI to catalyze economic advancement. Exploring the official website of this scheme, we discover that its key focus areas encompass agriculture, education, workforce development, finance, governance, healthcare, utility services, and sustainability. To qualify for...

Blockchain developer Pedro Magalhães claims that he has successfully reverse-engineered the source code of Brazil’s pilot central bank digital currency (CBDC). He revealed the existence of functions that empower a central authority to freeze funds or reduce balances. While concerns over such capabilities have been raised, the developer argues that there could be certain situations where these functions might prove beneficial. On July 6, the Banco Central do Brazil published the source code of the digital Brazilian real pilot project on the GitHub portal, emphasizing that it was solely intended for testing purposes and subject to potential modifications. You might also like: Hong Kong bank freezes user accounts previously involved in crypto Pedro Magalhães, a noted blockchain developer and founder of tech consulting firm Iora Labs, announced later that he had successfully “reverse-engineered” the open-source code, exposing various functions. These incl...

Binance and Binance.US have reached an agreement with the United States Securities and Exchange Commission (SEC) to secure customer funds and private keys by repatriating all Binance.US users’ funds to the United States, thereby preventing Binance Holdings officials, including Chanpeng Zhao, from accessing them. The development comes in response to the regulator’s request to freeze all of Binance.US’s assets as authorities continue to look into the lawsuit against the company. Binance and SEC ink compromise agreement  The United States web3 regulatory landscape has been quite challenging for market participants. The ongoing legal case between Binance, Binance.US, and the SEC is the latest in a series of enforcement actions against crypto businesses in the country.  The saga began when the SEC filed a lawsuit against Binance and Binance.US, accusing them of trading and offering unregistered securities to United States residents.  The lawsuit also rais...