Blockchain Press Releases
Global launch of generative AI engine set to revolutionise how businesses access and utilise their data
Stratio BD launches Stratio Gen-AI, the world-first, secure engine for enterprises enabling businesses to use company data in natural language with generative AI
MADRID, July 4, 2023 /PRNewswire/ — Launched today by leading Generative AI Data Fabric specialist Stratio BD, Stratio Gen-AI is a world-first generative AI engine designed to solve one of the biggest data management issues facing businesses – giving any worker easy, quick, and secure access to any information they require regardless of technical know-how.
The technology utilises a Large Language Model (LLM) with a user experience similar – but unrelated – to that of globally successful ChatGPT, enabling it to deliver information and data insights in easy-to-understand, human language, as well as understanding varying user language. This includes anything from various native tongues to different technical and literacy abilities, in order to provide the most relevant and accurate response.
This also ensures any user in all departments can effectively ask any question and Stratio Gen-AI will provide the answer instantly, rapidly improving productivity while enhancing each department’s ability to make informed decisions based on insightful data. For example, it eradicates the need for teams to download multiple reports from different applications and amalgamate them into a single spreadsheet, as well as avoiding the often lengthy waiting time it takes for data analysts to compile reports.
The new conversational tool is the final piece in the puzzle for Stratio BD’s vision to democratise data with its Generative AI Data Fabric offering: an AI-driven, end-to-end data management product designed to break down traditional barriers to data access, enabling businesses to simplify data analysis, automate tasks, and ultimately make better, more informed decisions that benefit the bottom line.
Oscar Mendez-Soto, CEO and Founder of Stratio BD said: “No matter what department you work in, whether it’s sales, HR, legal, marketing, or operations, your work will always be governed in some way by the most up-to-date and accurate data available to you. The Stratio Gen-AI engine is revolutionary for businesses as it empowers teams to use insights that would otherwise be either inaccessible, incomplete, or only possible for a data scientist to retrieve and understand. The use cases for how businesses can utilise this tool to improve and streamline operations are immeasurable.”
From day-to-day questions a manager would otherwise ask their team, to the more complex that would require a full data report from the technical teams, Stratio Gen-AI cuts out any obstacles for users to maximise their performance while reducing the need for administrative reporting. For example: sourcing a sales forecast; identifying the company’s most popular products that month; or forecasting which customers are a flight risk, are now all possible by asking a simple question to Stratio Gen-AI.
Often, businesses struggle to obtain true meaning from data as it is stored in siloed locations or across multiple applications. But because Stratio Gen-AI sits above a unified business data layer created by Stratio BD’s Generative AI Data Fabric product, the engine is able to access all of a company’s data in one view and simultaneously get an answer which is understandable in context to the business.
Stratio Gen-AI is a closed-source interface that businesses can safely use without any risk to data security as the data does not leave the company’s systems. Equally, thanks to the governance and role-based access to data already enabled by Stratio BD’s data governance module, users of the Stratio Gen-AI can only access data that is relevant and unrestricted to their position in the business.
The tool uses deep learning techniques to understand, summarise, generate, and make forecasts from large data sets. In particular, enterprises that stand to benefit the most are those that normally handle large volumes of data at scale, such as the financial, manufacturing, retail, telco, the public sector, and health and life sciences.
The engine is now available and in high demand, with a number of Stratio BD’s clients within the financial industry already starting to use the tool, including household name, high-street banks.
The news comes as the Spain-headquartered company launched regional offices in both the UK and France earlier in 2023 as part of ambitious worldwide expansion plans, now with more than 500 employees in seven countries.
Founded by entrepreneurs Óscar Méndez Soto and Ernesto Funes in 2014, Stratio BD’s clients include major corporate enterprises such as Santander, HSBC, BBVA, and Carrefour. The company is recognised by analysts such as Gartner and Forrester as international leaders in the data fabric space, and last year completed its Series C funding worth EUR 65 million while also achieving 40 per cent growth.
Oscar concluded: “Crucially, this technological leap is only possible because of the incredible capabilities of our market-leading data fabric product. Generative AI cannot understand or manage technical data unless it is available in a unified business layer and given business meaning through ontologies. Our Stratio Gen-AI product does this best, which is why we are in prime position to pioneer this technology for our clients.”
For more information visit http://stratio.com/gen-ai
About Stratio BD:
Generative data fabric specialist Stratio BD was founded in 2014 by fellow entrepreneurs Óscar Méndez Soto and Ernesto Funes. The Madrid, Spain-headquartered company was created to help businesses fully harness the power of data fabric and AI. Stratio BD’s Generative Data Fabric product provides businesses with composable data management solutions, enabling governance, virtualisation, advanced analytics, and AI to multiply the productivity of companies that use it, reducing costs and time to a fraction of what they need. The product provides a range of functions, including simplifying data understanding for business users, providing knowledge graph representations, applying AI algorithms to augment data management tasks, and automating manual AI development.
Last year, Stratio BD completed its Series C funding worth EUR 65 million, led by InfraVia with participation from Adara (A and B-Series investor) and the founders. The company had reached critical mass in its historic markets of Spain and Latin America and is now leveraging the round proceeds to fund commercial expansion across Europe. Stratio BD was named Gartner’s Cool Vendor in Data Management in 2021 for its innovative generative data fabric platform.
Stratio BD’s Generative AI tool, Stratio Gen-AI, is designed to assist businesses in generating answers and insights based on their available data. Stratio Gen-AI is provided by Stratio BD solely as a technology solution. The use and utilization of the tool, as well as any decisions made based on its outputs, are the sole responsibility of the customers. Stratio BD does not guarantee in any way that the tool will operate without errors or problems. It is important to note that Stratio BD cannot guarantee the accuracy, completeness, or reliability of the results and answers generated by Stratio Gen-AI. The interpretation and use of these results are solely the responsibility of the customers. Stratio BD shall not be held liable for any loss of business, damages, or consequences arising from the use of our solution. Customers are responsible for ensuring the quality and suitability of their data and for making informed decisions based on the outputs provided by our tool.
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Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
Republican Senator Roger Marshall has withdrawn his support for the Digital Asset Anti-Money Laundering Act of 2023, a controversial bill he initially co-sponsored with Senator Elizabeth Warren and others. This bill, reintroduced in the Senate on July 27, 2023, aimed to bring the cryptocurrency industry into alignment with existing anti-money laundering (AML) and counter-terrorism financing (CTF) laws.
Key Provisions of the Bill
The legislation proposed stringent regulations on digital asset providers, including unhosted wallet providers, miners, and validators, by classifying them as financial institutions under the Bank Secrecy Act (BSA). It mandated these entities to adhere to BSA compliance requirements, which include extensive reporting and monitoring responsibilities. Additionally, the bill called for the Financial Crimes Enforcement Network (FinCEN) to establish regulations for reporting significant foreign digital asset holdings and to create compliance measures to address risks associated with anonymity-enhancing technologies.
Senator Marshall’s Shift
Marshall’s withdrawal from the bill comes as a surprise, particularly given his earlier criticisms of cryptocurrencies, which he has described as a “threat to national security.” This includes concerns over stablecoins like Tether potentially facilitating illegal activities and circumventing U.S. sanctions. Despite his earlier stance, Marshall’s departure from the legislation suggests a reconsideration of the bill’s implications or an alignment with broader political and industry perspectives on cryptocurrency regulation. His office has not provided a comment on the reasons for his withdrawal.
Political and Industry Reactions
The bill had garnered significant bipartisan support, with 18 co-sponsors, reflecting a broader concern in Congress over regulating the rapidly growing cryptocurrency market. However, it has also faced criticism for potentially imposing impractical compliance burdens that could stifle innovation and push crypto activities offshore. Critics argue that the bill’s stringent requirements could inadvertently drive users toward unregulated platforms, thereby undermining its intent to enhance security and regulatory oversight.
Broader Context
The withdrawal comes at a time when cryptocurrency regulation is a highly contentious issue in U.S. politics. Former President Donald Trump has promised to relax crypto regulations if elected, contrasting with the current administration’s more stringent stance. Under President Joe Biden, the Securities and Exchange Commission (SEC) and other regulatory bodies, led by figures like Gary Gensler, have taken a more rigorous approach to regulating the sector, which has drawn criticism for being overly restrictive.
Senator Marshall’s decision to step back from the Digital Asset Anti-Money Laundering Act reflects the complex and evolving nature of cryptocurrency regulation in the U.S. While the bill seeks to bring greater oversight and security to the crypto industry, it also raises concerns about regulatory overreach and its potential negative impact on innovation and privacy. As the debate continues, the U.S. legislative and regulatory landscape for cryptocurrencies remains in flux, balancing the need for security with the desire to foster technological innovation.
Source: decrypt.co
The post Marshall Becomes First US Senator to Walk from Controversial Crypto Bill He Co-Sponsored appeared first on HIPTHER Alerts.
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