Blockchain
Mastercard Unveils Small Business AI to Offer Unbiased Advice to ‘Diverse Entrepreneurial Needs’
As much as 88 per cent of small business owners acknowledge the value of having a mentor, but many don’t have the expertise or employees to turn to. Mastercard is launching a new AI-powered tool to help solve these problems.
Mastercard Small Business AI is a tool that harnesses the ability of artificial intelligence to deliver customised assistance for small business owners across the globe.
Created in partnership with Create Labs, a social venture offering technology access to underserved communities, the tool aims to limit biases and cater to diverse entrepreneurial needs. This tool incorporates generative AI features to offer a conversational experience, drawing on emerging techniques and inclusive design standards to promote a relevant user journey.
Mastercard explained that modern businesses must adapt, enhance their skills and keep pace with rapidly changing consumer demand. Because eight out of 10 small businesses operate without employees, entrepreneurs seek solutions despite having access to very few resources.
Raja Rajamannar, chief marketing and communications officer at Mastercard, said: “Operating a small business is a point of immense passion and pride for entrepreneurs, but it’s certainly not easy. We are working closely with small business owners at all stages of development and seeing the myriad of challenges they face and the critical importance of mentorship to their success.
“Mastercard Small Business AI aims to create mentorship at scale, offering always-on advice from an inclusive set of sources. This is a testament to our commitment to the small business community and to innovations that lift people up.”
The tool is scheduled to be piloted in the US later this year, with the goal for international markets to follow.
‘Uniting for a common goal of inclusivity holds incredible power’
Not only will the AI tool deliver data from Mastercard’s existing repository of content – from the Small Business Community, Digital Doors, Mastercard Trust Center, and Strive USA – a newly formed global media coalition will contribute to that by licensing their business content – such as articles, podcasts and interviews. The following are slated to be the inaugural participants:
Blavity Media Group, a digital media company economically and creatively supporting black millennials; Group Black, a black-owned media company dedicated to connecting brands with diverse audiences; Newsweek, a global digital news organisation; and TelevisaUnivision, the Spanish-language media company, reaching over 53million US consumers across linear and digital platforms.
Bonin Bough, chief strategy officer and co-founder of Group Black, explained the importance of the initiative: “Uniting for a common goal of inclusivity holds incredible power.
“Through collaboration, we are looking to combine diverse resources to enhance a tool designed for all small and medium-sized business owners. We hope that these collective efforts shape a more equitable world for future generations, reducing the exclusion felt by numerous minorities and empowering them with the resources needed to succeed.”
Understanding that time is one of the most valuable assets for any small business owner, Mastercard also has a strong history of developing dozens of business solutions and services that centre around operational efficiency and ease of use.
Mastercard Small Business AI will join the company’s suite of small business solutions designed to empower entrepreneurs to help grow and protect their businesses in today’s digital economy.
Source: TheFintechTimes
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A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
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