The European Union (EU) Council has agreed to amend the Data Law, which mandates a ‘kill switch’ for applications using smart contracts, according to local industry sources.

This comes after the EU Parliament passed the ‘Data Act‘ on March 14, which weakens the immutability of smart contracts. The bill includes regulations requiring smart contracts to have access control, transaction confidentiality protection, and suspend and reset functions.

However, the decentralized finance (DeFi) market is protesting that these functions required by the bill may undermine the original purpose of smart contracts, which are contracts that are automatically executed through code recorded on a public blockchain without an intermediary. The DeFi market argues that the bill could potentially compromise the public and immutable nature of smart contracts, which is a fundamental aspect of blockchain technology.

Popular decentralized exchange (DEX) Curve Finance has already spoken out against the bill, saying that it is impossible to implement. Other players in the DeFi market are likely to follow suit, as they consider the bill to be a significant threat to their operations.

The bill went to a three-way consultation in which the European Union Parliament, the Council and the Executive Committee discussed details. The first related meeting was held on the same day that the EU Council agreed to amend the Data Law. The final draft of the data law will be decided after negotiations between the Parliament and the Council through the mediation of the European Commission.

The passing of the Data Act and the subsequent amendment of the Data Law highlights the ongoing debate around the regulation of blockchain technology and its applications. While some argue that regulations are necessary to ensure the protection of users and to prevent abuse, others argue that excessive regulation could stifle innovation and compromise the core principles of blockchain technology. As the DeFi market continues to grow and evolve, it is likely that similar debates will continue to emerge in the future.

#EU #Data #smartcontract #crypto2023 #azcoinnews

This article was republished from azcoinnews.com

PREPAiRE is leveraging advanced machine learning techniques to innovate in the field of drug discovery and personalized medicine. Here’s a simplified summary of what they are doing:
Advanced Algorithm Use: The company is using Convolutional Deep Neural Networks (CNN) and Generative Adversarial Networks (GANs), both of which are complex machine learning models. CNNs are primarily used in pattern recognition within images, while GANs can generate new data that resembles the input data.
Chemical and Biological Modeling: With these algorithms, PREPAiRE is creating models that can identify the interactions between proteins and other substances (ligands), generate molecular structures with desired properties, and prepare synthetic data for drug discovery and personalized treatment. These models could potentially streamline the process of finding viable drug candidates.
Precision Medicine: The company is also working on integrating whole-genome sequencing with deep phenotyping to create a comprehensive view of a patient’s disease profile. This could enable more precise and effective treatment plans.
CRISPR and IPS Technologies: The utilization of advanced technologies such as CRISPR (a gene-editing tool) and IPS (induced pluripotent stem cells, which are a type of cell that can be guided to become any type of cell in the body) can establish new approaches for disease treatment and prevention.
Platform Integration: PREPAiRE’s platform aims to combine prediction done in silico (performed on computer or via computer simulation) with high-throughput wet-lab validation, which means testing these predictions in a lab environment. This iterative cycle of prediction and validation allows for continuous improvements and increases in efficiency, accuracy, and reliability.
In essence, PREPAiRE is pushing the boundaries of personalized medicine by combining advanced technologies and machine learning techniques to predict and validate effective treatments at an individual level. This could potentially revolutionize the drug discovery process and the way we approach disease treatment and prevention.
What does the collaboration look like?
The first part of the collaboration combines an Avalon representation of Prepaire to visualize on different services and procedures down to a genetic level. The information from population scale data, cell based disease models and predicitve insights will be a first part in the usage of the Aimedis NFT data marketplace to start mainstreaming on that type of information.
Prepaire will also enable Avalon users to get genetic information by sending in a blood sample that is being used to extract specific genetic information that then can be combined with the digital twin inside the Aimedis platform. In combination of health data, socio economic data, IoT and pharmaceutical data and the genetic information, AI is being used to further predict the likelyhood of future disease to help prolong life and health for decades to come.

#AIMX #AI #doctor #NFT #Data