Monthly Archives: October 2018

Home / 2018 / October

Facebook’s AI Rosetta Scans Memes for Hate Speech

Memes can be used for spreading hate speech, which is why Facebook is now scanning them with the help of an Artificial Intelligence (AI) mechanism. The machine learning system, called Rosetta, is already working and extracting text from around 1 billion videos and images posted on Instagram and Facebook.

How does Rosetta work?

More than a billion images and video frames are posted on Facebook and Instagram each day, making it unimaginably difficult to review the texts—which appear in a variety of language and styles– on all those images or video.  This is why Facebook is deploying AI for the job. It claims that Rosetta is fully capable of performing the job meticulously and efficiently.

Facebook explained how Rosetta is going to scan the memes for hate speech. The machine learning system works by extracting text from a billion public Instagram and Facebook video frames and images daily and in real time (in several languages) and putting it into a text recognition model that is trained on classifiers to understand the meaning of the image as well as the text.

What’s in store for Rosetta and AI for the future?

Many machine learning models are adding text extraction as a feature for improving the quality and relevance of photo search and for recognizing content that violates hate speech policy.

Facebook says that the problem of understanding text in pictures is different from the problem addressed by optical character recognition (OCR) systems. This is because of the large volume of images shared daily on Instagram and Facebook, and because traditional optical character recognition (OCR) systems recognize the characters but do not understand the context of the associated image.

While talking about future plans of its Rosetta AI, Facebook said, “The rapid growth of videos as a way to share content, the need to support many more languages, and the increasing number of ways in which people share content make text extraction from images and videos an exciting challenge that helps push the frontiers of computer vision research and applications.”

France Announces Legal Framework for ICOs

The French government recently passed new legal guidelines to bring some guidance to ICOs (Initial Coin Offerings) and cryptocurrency. With the new framework, regulators will now be able to issue permits to companies that want to introduce ICOs.

Legal Framework is expected to attract blockchain innovators to France

France has been quite agreeable and approachable when it comes to cryptocurrencies. Earlier this year, there were reports that the country is planning to create a legal framework for raising funds through cryptocurrency. At the time, Bruno Le Maire, the finance minister of France, wrote that France has “every interest in becoming the first major financial center to propose an ad-hoc legislative framework for companies making an Initial Coin Offering.”

The EU has also shown interest, but France seized the day by introducing its own guidelines for Initial Coin Offerings first, with the finance minister announcing the adoption of Article 26, which creates a legal framework for ICOs, on September 12 on Twitter.

The Finance Minister said in his tweet that the  framework would attract blockchain innovators across the world to France.

The tweet reads, “Article 26 adopted in committee # PACT!

➡️A legal framework of # ICO is created.

➡️This legal framework will attract the innovators of the whole world # blockchain  # DirectAN.”

European Union looking optimistic about crypto

At a recent meeting of the Economic and Financial Affairs Council of the European Union in Austria, authorities appeared positive about cryptocurrency and the continued growth of the crypto market in Europe.

Valdis Dombrovskis, the European Commission vice president, said that he believes crypto assets and cryptocurrency are “here to stay” and that the market will continue to grow without being affected by the downfalls that have been coming its way during the past few months. The question that really arises is whether the EU will enact new rules for regulating crypto, or whether the existing legal framework can be used.

Dombrovskis, who talked about ICOs and alternative financing, said that ICOs helped raise around 6 billion dollars last year in funding   As for criminal activities related to cryptocurrency, he said that there will be a need for more transparency for investment protection. He further disclosed during his speech that the commission is working with European Supervisory Authorities for “regulatory mapping of crypto assets” in order to know whether they really require new EU rules. Several Member States supported the requirement of mapping, and it is possible they may conclude the assessment by the end of this year.

 

France Announces Legal Framework for ICOs

The French government recently passed new legal guidelines to bring some guidance to ICOs (Initial Coin Offerings) and cryptocurrency. With the new framework, regulators will now be able to issue permits to companies that want to introduce ICOs.

Legal Framework is expected to attract blockchain innovators to France

France has been quite agreeable when it comes to cryptocurrencies. Earlier this year, there were reports that the country is planning to create a legal framework for raising funds through cryptocurrency. At the time, French foreign minister, wrote that France has “every interest in becoming the first major financial center to propose an ad-hoc legislative framework for companies making an Initial Coin Offering.”

The EU has also shown interest, but France seized the day by introducing its own guidelines for Initial Coin Offerings first. Its finance minister announced the adoption of Article 26, which creates a legal framework for ICOs, on September 12th.

The Finance Minister said in his tweet that the  framework would attract blockchain innovators across the world to France.

The tweet reads, “Article 26 adopted in committee # PACT!

➡️A legal framework of # ICO is created.

➡️This legal framework will attract the innovators of the whole world # blockchain  # DirectAN.”

European Union looking optimistic about crypto

At a recent meeting of the Economic and Financial Affairs Council of the European Union in Austria, authorities appeared positive about cryptocurrency and the continued growth of the crypto market in Europe.

Valdis Dombrovskis, the European Commission vice president, said that he believes crypto assets and cryptocurrency are “here to stay”. He also said he believes that the market will continue to grow without being affected by the downfalls that have been coming its way during the past few months. The question is whether the EU will enact new rules for regulating crypto, or whether the existing legal framework can be used.

Dombrovskis said that ICOs helped raise around 6 billion dollars last year in funding   As for criminal activities related to cryptocurrency, he said that there will be a need for more transparency for investment protection. He further disclosed during his speech that the commission is working with European Supervisory Authorities for “regulatory mapping of crypto assets”.  This will help inform whether they really require new EU rules. Several Member States supported the requirement of mapping; it is possible they may conclude the assessment by the end of this year.

 

The future of cryptocurrency in five years: A Billion Cryptocurrency Users?

What is the future of cryptocurrency? Cryptocurrency is slowly but steadily entering the mainstream. The promise that it offers for decentralized banking and alternative payment systems is attractive to many, drawing not only investors but also those who believe in its utility.  In fact, the CEO of a major online crypto market platform, Coinbase, opined that he thought a billion people could be using cryptocurrency in five years.

Armstrong believes Coinbase will function like the NYSE in the long run

Brian Armstrong, Coinbase’s CEO, added that he believes crypto tokens will become extremely widespread: “Every open source project, every charity, potentially every fund or these new types of decentralized organizations [and] apps, they’re all going to have their tokens.”

Armstrong’s optimism about the future of cryptocurrency runs strong—he believes that with the growth of his own company internationally, it will eventually function for crypto assets the way major exchanges, like the New York Stock Exchange, do for traditional investments.

Cryptocurrency already a “regulated industry” in the US: Armstrong

When asked about his stance on cryptocurrency regulation in the US, Armstrong recognized the reality and inevitability of regulation: “Yes, I don’t think there will ever be a moment where it’s like, now, we have cryptocurrency regulation because cryptocurrency has now branched out to be so many things, you know, its money, its potentially stocks or securities, its commodity, its property and then that’s just in the U.S.”

 

 

Dorsey Trying to Make Twitter More Transparent

 

It’s not new for the Chief Executive of Twitter to respond to backlashes, especially after the spread of hate speech on the micro-blogging site. After banning the accounts of far-right conspiracy theorist Alex Jones and Infowars site from the platform temporarily, CEO Jack Dorsey made several press appearances, and indicated his desire to increase transparency.

Twitter’s policy requires a change

Dorsey tried to explain through his press appearances what Twitter is planning in order to combat hate speech and abusive behavior.  The controversy that arose when Twitter, in contrast to other social media companies, initially refused to ban Alex Jones and Infowars for its objectionable content, has opened the larger question of what Twitter’s policy should be vis a vis banning content.

The New York Times published an interview with Dorsey in which Dorsey said, “Our rules derived from our original values. I think we might have focused too much on one value without looking more broadly at other values that we should integrate, but also how we should prioritize those values.”

Twitter CEO thinks Jones may rethink his behavior after temporary suspension

Dorsey said in an interview to NBC that suspending Jones’ account temporarily might make him rethink his behavior. The company’s CEO insisted that Twitter holds every account to the same rules and the same standard. Further, he said that he felt the other companies that banned Jones, including YouTube, Apple and Facebook, had been inconsistent in their decision-making.

However, Dorsey also accepted that Twitter’s management sometimes feels like it is behind the circumstances that are pushing them. He said that the company wants to be open, accessible and available to all perspectives and viewpoints, adding that “We don’t want any of our policies or enforcement or products to make decisions based on viewpoints and ideologies.”