Best Twitter threads of the day – August 3rd

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  TL;DR Breakdown Deputy Governor of the Reserve Bank of India (RBI), has recommended banks in India to adopt artificial intelligence (AI) and blockchain technology for sustainable growth and stability. Technological disruptions, evolving customer demands, and cybersecurity threats are some of the emerging challenges in the banking sector, according to Jain. The Deputy Governor’s advice comes at a time when India is exploring digital currencies, with a central bank digital currency launched for testing in November. Mahesh Kumar Jain, the Deputy Governor of the Reserve Bank of India (RBI), has urged the country’s banking sector to embrace the transformative potential of artificial intelligence (AI) and blockchain technologies. This advice, underpinning the vital role of innovation in fostering sustainable growth and stability, came during a recent conference organized by the RBI for the directors of Indian banks. Technological disruptions: Risk and reward Mr. Jain expounded on the crucial nature of robust corporate governance structures and processes, particularly in navigating the increasingly complex landscape of future risks. He pinpointed technological disruptions, evolving customer demands, and burgeoning cybersecurity threats as sources of new and…

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• Nova Labs Introduces Revolutionary $5 Mobile Phone Plans in Miami

  TL;DR Breakdown Nova Labs, previously known as Helium Inc., introduces a $5/month mobile plan in Miami powered by individual and business-owned 5G hotspots on the Helium Network. The company’s innovative approach merges telecom and crypto, offering hotspot owners crypto rewards for data provided and partners with T-Mobile for seamless connectivity. Description In an era where the telecom industry is rife with customer dissatisfaction over pricing and service, Nova Labs Inc. has made a bold move. The blockchain startup, previously known as Helium Inc., has announced a groundbreaking mobile phone plan that offers unlimited text, talk, and data for a mere $5 a month. However, there’s a … Read more In an era where the telecom industry is rife with customer dissatisfaction over pricing and service, Nova Labs Inc. has made a bold move. The blockchain startup, previously known as Helium Inc., has announced a groundbreaking mobile phone plan that offers unlimited text, talk, and data for a mere $5 a month. However, there’s a catch – this offer is initially exclusive to Miami residents and a select group of invitees….

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• Crypto traders bet on Asia as the US crackdown the market

  TL;DR Breakdown Asia is fast becoming the new center of gravity for crypto markets as the United States SEC moves to dismantle the DeFi market in the country.  Asian crypto markets shine despite the sanctions put by China and India – two countries with the largest populations in the region. The pivot toward Asia was underway even before the SEC under Chair Gary Gensler launched a wide-reaching clampdown in 2023. Description Amidst a backdrop of mounting regulatory scrutiny and a recent crackdown on crypto in the United States, Asia has emerged as a thriving hub for crypto traders seeking a haven for their digital assets. As the global crypto landscape undergoes significant shifts, regulatory clarity and growing adoption of digital currencies in countries across Asia have … Read more Amidst a backdrop of mounting regulatory scrutiny and a recent crackdown on crypto in the United States, Asia has emerged as a thriving hub for crypto traders seeking a haven for their digital assets. As the global crypto landscape undergoes significant shifts, regulatory clarity and growing adoption of digital currencies in…

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• Amazon Web Services (AWS) outage temporarily disrupts services, Ethereum network remains resilient

  TL;DR Breakdown Amazon Web Services (AWS) experienced a minor outage lasting around three hours, causing disruptions to various websites and services. Despite Ethereum’s heavy reliance on AWS hosting, the Ethereum network remained unaffected by the outage. The incident highlights the significance of cloud offerings in today’s digital age and underscores the need for robust infrastructure and contingency plans to mitigate disruptions. Amazon Web Services (AWS), the leading cloud service provider, experienced a brief but notable outage on June 13, causing service disruptions for numerous organizations. While the incident impacted major news organizations and websites, the Ethereum network remained resilient, unaffected by the disruption despite its heavy reliance on AWS for hosting its infrastructure. AWS first reported increased error rates and latencies in parts of the United States at 12:08 pm PDT, initiating investigations into the issue. The outage lasted for approximately three hours, leaving mainstream news organizations, including the Associated Press, unable to publish articles during that time. Ethereum network unscathed despite heavy reliance on AWS hosting Evan Van Ness, an advocate for the Ethereum network, observed the situation and…

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• BRICS bank urges global south financial system overhaul

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