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New ‘A.I. lawyer’ analyzes your emails to find moneysaving loopholes

October 16th, 2020 at 11:18 am » Comments Off

Email systems have gotten smarter. Whether it’s filtering out spam, prioritizing the messages we need to respond to, reminding us when we’ve forgotten to include a mentioned attachment, or suggesting appropriate responses, 2020 email has come a long way from the basic inboxes of yesteryear. But there’s still further they can go — and Joshua […]

The Pandemic Plutocrats : How Covid is creating new fintech billionaires

October 6th, 2020 at 12:05 pm » Comments Off

In 2015, Nick Molnar was living with his parents in Sydney, Australia, and selling jewelry from a desktop computer in his childhood bedroom. Hocking everything from $250 Seiko watches to $10,000 engagement rings, the 25-year-old had gotten so good at online marketing that he had become Australia’s top seller of jewelry on eBay, shipping thousands […]

‘We were shocked’: RAND study uncovers massive income shift to the top 1%

September 23rd, 2020 at 10:35 am » Comments Off

The median worker should be making as much as $102,000 annually—if some $2.5 trillion wasn’t being “reverse distributed” every year away from the working class. Just how far has the working class been left behind by the winner-take-all economy? A new analysis by the RAND Corporation examines what rising inequality has cost Americans in lost […]

Momentum for basic income builds as pandemic drags on

September 21st, 2020 at 11:25 am » Comments Off

A man shows off an Andrew Yang “Freedom Dividend” $1,000 bill sign on a street in San Francisco. Amid the pandemic and a global recession, basic income and a basket of related policies have gained unprecedented momentum. When the idyllic upstate city of Hudson, New York, launches its basic-income pilot program in late September, it […]

MIT is helping the Boston Fed build a CBDC that can be scaled for consumer use

September 12th, 2020 at 12:37 am » Comments Off

MIT is helping the Boston Fed build a CBDC that can be scaled for consumer use Can MIT help the U.S. catch up to China in the CBDC race? The MIT Digital Currency Initiative, or DCI, is helping the federal reserve bank of Boston build a digital currency with the goal of scaling for consumer […]

Germany is beginning a universal-basic-income trial with people getting $1,400 a month for 3 years

August 24th, 2020 at 11:24 am » Comments Off

Starting this week, 120 Germans will receive a form of universal basic income every month for three years. The volunteers will get monthly payments of €1,200, or about $1,400, as part of a study testing a universal basic income. The study will compare the experiences of the 120 volunteers with 1,380 people who do not […]

The rise of the upper middle class

August 22nd, 2020 at 11:33 am » Comments Off

We all know that economic inequality has increased in recent decades, but just who has won and who has lost are harder questions to answer. A new study suggests that, even before the coronavirus pandemic, much of the increase in inequality was generational. People born earlier in the post-World War II decades experienced faster income […]

The Future of Money: How cryptocurrency and the blockchain will change society

August 19th, 2020 at 12:07 pm » Comments Off

  Anarchy reigns supreme in the future of finance, decentralizing the power of banks and, in some cases, the state. But will cryptocurrencies and the blockchains that underlie them solve our financial woes, or only worsen existing inequalities?

Bank of Korea launches a department devoted to blockchain and AI

August 4th, 2020 at 11:27 am » Comments Off

Bank of Korea is launching a digital innovation department that will leverage blockchain and AI to improve business efficiency. The Bank of Korea has reportedly chosen to establish a “Digital Innovation department” through organizational reform in the second half of this year, according to the local news on July 22.

Banks in the US can now offer crypto custody services, regulator says

August 2nd, 2020 at 12:12 pm » Comments Off

  The Office of the Comptroller of the Currency (OCC) is letting all nationally chartered banks in the U.S. provide custody services for cryptocurrencies. In a public letter dated July 22, Senior Deputy Comptroller and Senior Counsel Jonathan Gould wrote that any national bank can hold onto the unique cryptographic keys for a cryptocurrency wallet, […]

Op-ed: Let’s double down on PPP and save America’s endangered small businesses

July 29th, 2020 at 12:09 pm » Comments Off

KEY POINTS We’re working to pass legislation that does two things: First, make Paycheck Protection Program funds available to eligible businesses through at least the end of this year, and second, authorize a second round of forgivable loans to the businesses most severely impacted by the pandemic. We want to double down on PPP because, […]

Elon Musk advocates for universal basic income instead of second stimulus check

July 26th, 2020 at 1:57 pm » Comments Off

Tesla CEO Elon Musk wants his followers to know he still supports universal basic income, even though he thinks another coronavirus stimulus package from the U.S. government is a bad idea. In a Twitter thread published early Friday morning, Musk tweeted that any additional stimulus package from Congress is “not in the best interests of […]

31 ways AI will affect the future of entertainment