Crypto Moves — Bitcoin, Ether up; Cuba approves crypto services; Central African Republic adopts Bitcoin as official currency

Bitcoin traded higher on Thursday, up 2.31 percent to $39,323. (Shutterstock)
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Updated 28 April 2022
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Crypto Moves — Bitcoin, Ether up; Cuba approves crypto services; Central African Republic adopts Bitcoin as official currency

RIYADH: Bitcoin, the leading cryptocurrency internationally, traded higher on Thursday, up 2.31 percent to $39,323 as of 09.15 a.m. Riyadh time.

Ether, the second most traded cryptocurrency, was priced at $2,880, up 1.08 percent, according to data from Coindesk.

Cuba approves cryptocurrency services

The Cuban central bank issued regulations on Tuesday for virtual asset service providers, after giving a nod last year to the personal use of cryptocurrencies, a move some experts said could help the Communist-run Caribbean island skirt stiff US sanctions.

Cryptocurrencies, which allow financial operations to be carried out anonymously in a decentralized manner, have been used in the past to get around capital controls, as well as to make payments and transfers more efficient.

The bank authorization, published Tuesday in the government’s official gazette, requires those wishing to use cryptocurrencies to obtain a license.

The bank said it would consider the legality, socioeconomic interest and project characteristics of any request before granting a license, which would be valid initially for one year.

The roll-out of mobile Internet three years ago has opened the way for cryptocurrency transactions in Cuba, and enthusiasts on the island are growing in number as the currencies help overcome obstacles created by US sanctions.

Central African Republic adopts Bitcoin as an official currency

Central African Republic has adopted Bitcoin as an official currency, the presidency said on Wednesday, becoming the first country in Africa and only the second in the world to do so.

Despite rich reserves of gold and diamonds, Central African Republic is one of the world’s poorest and least-developed countries and has been gripped by rebel violence for years.

A bill governing the use of cryptocurrency was adopted unanimously by parliament last week, said a statement signed by Obed Namsio, chief of staff of president Faustin-Archange Touadera.

“The president supports this bill because it will improve the conditions of Central African citizens,” Namsio told Reuters, without elaborating.

In the statement, he called it “a decisive step toward opening up new opportunities for our country.”

Central African Republic is one of six nations that use the Central African CFA franc, a regional currency governed by the Bank of Central African States. 

(With inputs from Reuters) 


AI models could help to save lives, says experts at WGS 

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AI models could help to save lives, says experts at WGS 

  • With the rise of wearable health technology such as the Whoop and the Oura ring, people now have access to their own health data

DUBAI: AI language learning models could soon be used to give reliable medical advice, Director of the Stanford Center for Digital Health Dr. Eleni Linos told the World Governments Summit on Thursday.

“We will get to a point where the accuracy of these models results in people trusting them and using them even more,” she said.

Linos said that the models were currently “good enough” at offering quick guidance on how to react in situations and said they could be very helpful to parents, for example, if their child woke up in the middle of the night and needed immediate medical attention.

“I believe language learning models are equipped to answer these questions. They are definitely not perfect, but they are good enough. It can offer quick guidance into how we can react or respond to situations,” she said.

Linos said that AI language learning models could be crucial in saving lives and making quick decisions, not only in rural areas but in urban societies as well.

“Even in urban areas and for people with health insurance, getting access to doctors can take days or even months. Being able to get an answer within seconds is important, even if it’s not perfect and there is a risk that it’s not the same level as professional advice, it’s still something,” she said.

Co-founder and CEO of CREATE Medicines Daniel Getts said that data was a key element in monitoring the success of health technology.

CREATE Medicines is a clinical-stage biotechnology company based in Massachusetts that focuses on transforming how diseases are treated.

“The key element to success in monitoring health through this tech is data. Baseline data sets are going to be essential on how we apply tech ideas in relation to health,” Getts said.

He said that his company was approaching drug manufacturing and preventive medicine from a one-size-fits-all approach.

“We focus on making drugs that everyone can take, making a drug for one human doesn’t help humanity. We need drugs that are effective to every individual.”

With the rise of wearable health technology such as the Whoop and the Oura ring, people now have access to their own health data.

Linos said that these technologies monitored heart rate, sleep quality and even the food people consumed, and were changing the way people made health-conscious decisions.

“If you can imagine a world where you can call your doctor instantly, where you have the wisdom of traditional medicine passed on from generations, but that is somehow incorporated into available, tech-driven LLM that will give you not just instant, rigorous scientific advice, but that it’s informed by generations of wisdom and is available in moments … I think that would be an incredible vision for the future, where everyone in the world, regardless of where they live, what language they speak, can get the highest standard of medical advice, medical care, informed by science but also traditional wisdom at their fingertips,” she said.

Getts echoed this idea and said that the need to call a doctor was going to decrease in the future.

“Your need to call a doctor is going to become diminished over time because we’re going to empower people with education and access to therapies that are easier to administer and we can just understand how they work,” he said.