Jackson Palmer and his once-wildly successful cryptocurrency Dogecoin are a cautionary tale for those bedazzled by Bitcoin. Palmer was an early enthusiast of cryptocurrency, but sought a way to mock the hype around investing huge sums of money in it. He created his own cryptocurrency, Dogecoin, based on an Internet meme of a Shiba Inu dog. Instead of getting the joke, investors brought Dogecoin’s market value to $400 million, before scammers and hackers brought it down, selling fake products and defrauding investors. Continue reading Are Cryptocurrencies Next Big Bust or Revolution in Finance?

Over the weekend, the Virtual Reality Industry Forum (VRIF) released its draft VR and 360 video production and distribution guidelines at IBC 2017 in Amsterdam. The draft document begins with an intro section suggesting best practices for VR/360 production, including experiences with three degrees of freedom (3DOF). It then makes specific recommendations for the technical aspects of visual and audio VR/360 content production, media and presentation profiles, and content security. VRIF aims to release the full guidelines, with an emphasis on an open ecosystem, at CES 2018 in January. Continue reading VR Industry Forum Draft Guidelines Push for Open Ecosystem

Adobe Systems debuted services utilizing Sensei, its AI feature, to provide analytics, marketing and aid in automating audio ads from cars connected to the Internet. The data thus far is provided via in-car voice assistants and infotainment apps, but will ultimately include entirely autonomous vehicles. The new service puts Adobe at the head of the pack in offering this kind of data analysis; the company is relying on its experience providing similar digital marketing assistance for computers and smartphones. Continue reading Adobe Debuts AI-Powered Service to Monetize Vehicle Data

Equifax reported that hackers likely gained access to the personal information of about 143 million people in the U.S., making it the second biggest data breach after last year’s two Yahoo hacks, which impacted as many as 1.5 billion customers. The Equifax hack is almost twice as large as the J.P. Morgan Chase & Co. hack three years ago. The damage the hack to Equifax will do is as of yet unknown, but it could be serious, given the immense scope of the attack and the future potential for fraud.   Continue reading Equifax Data Breach, Discovered in July, Impacts 143 Million

In June, the European Union fined Google €2.4 billion ($2.9 billion) over the practice of favoring its own services through Google Search results. Now, the tech behemoth has said it has complied, submitting details of how it will end its anti-competitive practices. The European Commission gave Google until September 28 to stop the practices, after which the company would be fined as much as 5 percent of Alphabet’s average daily worldwide turnover, estimated at about $12 million per day, based on its 2016 turnover of $90.3 billion. Continue reading Google Submits New Plan to Comply with EU Antitrust Order

In VentureBeat, The Khronos Group president Neil Trevett and Sensics CEO Yuval Boger list four myths that are standing in the way of VR standards and more rapid market growth — “Myth 1: It’s too early for standards,” “Myth 2: Standards stifle innovation,” “Myth 3: Consumers won’t be impacted” and “Myth 4: There are too many cooks developing standards.” Trevett and Boger counter all four and note that The Khronos Group and IEEE are leading efforts to develop VR standards. The ETC’s VR/AR Initiative program lead, Phil Lelyveld, says that despite outreach efforts to the creative community by those organizations, active contributors are predominantly hardware and tool developers and technologists. Continue reading Addressing the Myths That Impact Creation of VR Standards

Elon Musk, Bill Gates and Stephen Hawking are among those that have raised concerns regarding our pursuit of artificial intelligence, while Musk has recently gone so far to suggest that AI presents “more risk than North Korea” and should be regulated, like “everything (cars, planes, food, drugs, etc.) that’s a danger to the public.” Our colleague Yves Bergquist, director of ETC’s Data & Analytics Project, published a compelling rebuttal on Medium this week, in which he clearly defines “narrow AI” and “artificial general intelligence” in order to provide additional context regarding the evolution of AI applications and their numerous possibilities. Continue reading In Response to Elon Musk and His Concerns About AI Safety

China wants to become the most dominant nation in artificial intelligence, and it’s got three advantages that might help that become a reality. In addition to strong government support, which includes a willingness to share data about its citizens, China also has an immense number of engineers to write software and 751 million Internet users who can test out the work they do. As China seeks to gain market share, President Xi Jinping seeks to strengthen intellectual property laws to give its startups an advantage. Continue reading China Set to Toughen IP Laws in Pursuit of Tech Dominance

A new study predicts that smartphones of the future could have as many as 13 cameras capturing 360-degree, 3D video that can easily create augmented reality as well as the optical zoom and aperture effects of a digital SLR camera. Although that might sound far-fetched, there are already billions of cameras in the world today, a figure that is expected to explode in the next five years. That equals a lot of surveillance, but also new capabilities for smartphones, wearables, autonomous vehicles and a range of other smart devices. Continue reading VC Firm Predicts 45 Billion Cameras Worldwide in Five Years

Continue reading HTC Exec Shares Lessons From Novel For a VR-First Future

The Electronic Privacy Information Center filed a legal complaint with the Federal Trade Commission over Google’s Store Sales Measurement, a new advertising program that connects consumers’ online activities with purchases in retail stores. According to the complaint, Google now has access to U.S. consumers’ credit and debit card purchase records, but doesn’t reveal how it gets the information and uses a secretive method to protect it. The complaint states that consumers should be provided a way to opt out of the program. Continue reading Privacy Group Files Complaint Over New Google Ad Program

A Wisconsin-based technology company, Three Square Market, is offering its employees the chance to have a microchip injected between their thumb and index finger. The grain-of-rice sized chip, once injected, will allow an employee to swipe her hand to pay for food in the cafeteria, enter the office building or accomplish any other task involving RFID technology. Though the implant might sound like overreach, more than 50 of the company’s 80 employees have signed up for the implant when it is first offered on August 1. Continue reading Tech Firm Is First to Offer Employees Implantable RFID Chips

The Securities and Exchange Commission (SEC) has ruled that blockchain tokens sold through token sales are to be classified as securities, a ruling that was anticipated and that will have a powerful impact on projects looking to fundraise from U.S. investors. The ruling follows an investigation of The DAO, which raised a record-breaking ICO (Initial Coin Offering) last May and then lost one-third of it in a hack. As a result, part of the Ethereum community executed a rollback transaction of the DAO fundraising; The DAO has since been delisted. Continue reading SEC Rules That Blockchain Tokens Are Regulated Securities

Alphabet is launching Glass Enterprise Edition, a new version of Glass, its head-mounted computer. The first version, aimed at consumers, drew widespread concern about privacy, since it could record in public places. This second Glass, targeting corporate customers and training, has been tested at 50 corporations, including Boeing, General Electric and Volkswagen. Designed as a device that snaps on to eyeglasses, Glass allows workers to view instructional content, including video and images, and even broadcast what is viewed to others for real-time instruction. Continue reading Alphabet Resurrects Google Glass for the Enterprise Market

Apple will open its first data center in southwest China, in response to a new Chinese law that requires companies to store data within its borders. The data center, which will be operated in partnership with a local data management company, is part of a $1 billion investment Apple will make in the Guizhou province. Amazon, Facebook and Microsoft have built data centers in Germany, France and the Netherlands among other countries for technical reasons and in response to security concerns of governments and customers. Continue reading Apple to Open New Data Center in China With Local Partner