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NEAR Protocol Co-Founder Advocates for Web3 and AI Integration at 2024 Hong Kong Web3 Carnival
According to Foresight News, Illia Polosukhin, co-founder of NEAR Protocol, spoke at the '2024 Hong Kong Web3 Carnival', advocating for the integration of Web3 and AI as a solution to the current closed-source language models. He pointed out that most AI models are closed-source, leading to a lack of transparency about the data used for training, which poses potential risks.

There is a need for open-source models, but several obstacles exist, such as regulatory restrictions on data access and insufficient financial incentives following open-sourcing. Polosukhin suggested that AI language models need to establish direct contact with users. The optimal solution, he proposed, is to use cryptography and on-chain reputation to address these issues, enabling the creation of competitive models within the Web3 framework.
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Core Inflation Rate YoY ahead of FOMC Minutes Release: What It Means for Crypto? Today marks a significant day for both traditional and crypto markets as investors eagerly await two key events: the release of the FOMC minutes and the announcement of the Core Inflation Rate Year-on-Year (YoY). The FOMC minutes offer insights into the Federal Reserve's recent discussions and decisions, providing crucial clues about future monetary policy directions. Meanwhile, all eyes are on the Core Inflation Rate YoY, with the previous figure standing at 3.2% and the forecast at 3.4%. The implications of these events for the crypto market are multifaceted. Firstly, any hints of a shift in the Fed's monetary policy stance, such as discussions about tapering or raising interest rates, could impact investor sentiment across all asset classes, including cryptocurrencies. Secondly, a higher-than-expected Core Inflation Rate YoY could fuel concerns about rising prices and potentially lead to increased demand for inflation-hedging assets like Bitcoin and other cryptocurrencies, which are often viewed as a store of value in times of economic uncertainty. Conversely, if the Core Inflation Rate YoY comes in lower than expected, it may temporarily alleviate inflation fears, leading investors to reevaluate their portfolio allocations, including their exposure to cryptocurrencies. Overall, the interplay between the FOMC minutes and the Core Inflation Rate YoY will likely shape market sentiment and influence trading decisions in the crypto space. Investors should closely monitor these developments and be prepared to adapt their strategies accordingly in response to any market-moving news. $BTC $NEAR $TIA
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