DeFi News Official TheBitTimes.com

The Bank of England’s consultation on the digital pound has sparked widespread public debate, underscoring critical concerns about privacy, cash usage and the currency’s future trajectory. The Bank of England has received more than 50,000 responses , on its idea of introducing a digital pound . Deputy Governor Jon Cunliffe talked about this in his speech, pointing out that people are worried about how private their information will be, what might happen to cash, and how the digital pound would actually work. Cunliffe said that if people use the digital pound , their information would be as private as it is now when they make electronic payments. He assured everyone that the Bank of England wouldn’t see people’s personal data. Even with these assurances, it’s important to think about how safe data truly is when dealing with digital currency. Bank of England Official Says UK Likely to Need Digital Pound – BNN Bloomberg -Saw this coming! https://t.co/NkPLWTNd4s — Mr...

The British law firm that represented Diana, Princess of Wales, is now going after OneCoin masterminds. Mishcon de Reya, a London-headquartered international law firm, is about to file a class-action lawsuit on behalf of OneCoin investors who suffered losses as a result of the crypto fraud. In a press release published on Monday, Sept. 25, the firm said that a civil claim would be brought in London’s High Court in an effort to “recover for investors the losses they suffered at the hands of those who perpetrated the fraud.” Mishcon noted the case would be brought on a “no win, no fee” basis, which means the firm gets paid only if it achieves a satisfactory result. “The fraudulent OneCoin scheme concocted by Ruja Ignatova and others greatly impacted the lives of its victims who ranged from sophisticated to lay investors. The forthcoming claim in the High Court in London aims to achieve at least partial redress for those investors who were taken in...

U.K. lawmakers wish to unite global efforts to safeguard the masses against bad actors who misuse artificial intelligence, or AI. The U.K.’s House of Commons issued a report acknowledging the potential benefits of AI, such as enhanced productivity and innovative consumer products. However, regulators also highlight the challenges associated with the burgeoning tech, including privacy issues. The AI industry is evolving rapidly, particularly with the emergence of large language models like ChatGPT. These models have transformed AI into a versatile and ubiquitous technology. The report notes that the rapid development of AI has made governance and regulation discussions more urgent. Policymakers are called upon to ensure that AI’s positive impact can be harnessed while safeguarding against potential harm. Twelve key challenges in AI governance are identified, ranging from addressing bias and privacy issues to managing employment disruption due to AI. The report recognizes th...