NFTs are now spotted with Fakes as Demand Soars | NFTs | VARINDIA News Hour
We have already entered into the new age of technologies including Blockchain, DeFi, Crypto, NFTs and the Metaverse. Sales of NFTs, or non-fungible tokens, soared to around $25 billion in 2021, leaving many baffled as to why so much money is being spent on items that do not physically exist and which anyone can view online for free. NFT technology is helping to make art profitable again, but plagiarism and fakes are “becoming a massive issue” for both artists and buyers, warns a world-famous British artist who has crossed over into the digital space. NFTs are crypto assets that record the ownership of a digital file such as an image, video or text. Anyone can create, or 'mint', an NFT, and ownership of the token does not usually confer ownership of the underlying item. Plagiarism and fraud have been an issue since NFTs exploded in early 2021, but something shifted last fall. The explosion appeared to be from bots scraping artists’ online galleries, or even keyword searches on Google Images, and then creating collections with auto-generated texts. Those listings have proliferated on OpenSea.
It has come as evidence that there are a record number of fake NFTs in the marketplace. An NFT is a digital asset that can be an image, audio clip, or GIF and whose ownership is recorded on a tamper-proof digital ledger known as a blockchain. “NFTs are the future of art, without question. We’re increasingly living digital lives and NFTs allow us to take the images we love into this world – with an even further enhanced experience for the buyer. It’s the inevitable way forward. Over the last year, the NFTs market has exploded, with a digital-only piece of art selling for $69 million in 2021. Since then, an ever-growing number of artists and celebrities, fashion, music, tech and sports brands have been creating, buying and selling ‘tokens.’ This is attributable to two main reaso.
NFTs are now spotted with Fakes as Demand Soars | NFTs | VARINDIA News Hour
We have already entered into the new age of technologies including Blockchain, DeFi, Crypto, NFTs and the Metaverse. Sales of NFTs, or non-fungible tokens, soared to around $25 billion in 2021, leaving many baffled as to why so much money is being spent on items that do not physically exist and which anyone can view online for free. NFT technology is helping to make art profitable again, but plagiarism and fakes are “becoming a massive issue” for both artists and buyers, warns a world-famous British artist who has crossed over into the digital space. NFTs are crypto assets that record the ownership of a digital file such as an image, video or text. Anyone can create, or 'mint', an NFT, and ownership of the token does not usually confer ownership of the underlying item. Plagiarism and fraud have been an issue since NFTs exploded in early 2021, but something shifted last fall. The explosion appeared to be from bots scraping artists’ online galleries, or even keyword searches on Google Images, and then creating collections with auto-generated texts. Those listings have proliferated on OpenSea.
It has come as evidence that there are a record number of fake NFTs in the marketplace. An NFT is a digital asset that can be an image, audio clip, or GIF and whose ownership is recorded on a tamper-proof digital ledger known as a blockchain. “NFTs are the future of art, without question. We’re increasingly living digital lives and NFTs allow us to take the images we love into this world – with an even further enhanced experience for the buyer. It’s the inevitable way forward. Over the last year, the NFTs market has exploded, with a digital-only piece of art selling for $69 million in 2021. Since then, an ever-growing number of artists and celebrities, fashion, music, tech and sports brands have been creating, buying and selling ‘tokens.’ This is attributable to two main reaso
Technology video | 487 views
Udhampur (Jammu & Kashmir): As temperature is soaring in the country, the demand for traditional earthen pots has increased. It comes as a relief to potters of Jammu and Kashmir’s Udhampur as their income increases at this time of the year. The profession of the potter comes with a lot of challenges as they do not have any sale in winter season.
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Key trends and opportunities to impact 5G in 2022 | 5G network in India | VARINDIA News Hour
5G is inevitable and the increased demand from the consumer will drive revenue growth in 2022, with this Network cost could double as operators strive to meet demand for increased capacity and deploy 5G. The 5G roll out in India in 2022, will witness enterprises and network providers seeking use cases to implement 5G in business operations. This will see business use of 5G move out of its nascency and the adoption of advanced features such as Ultra Reliability Low Latency Communications (URLLC) and Massive Machine Type Communicators (mMTC) for faster and better results. The ecosystem will expand to include public cloud providers and new open infrastructure for an Open 5G ecosystem, delivering private 5G networks with more capabilities. 5G is expected to bring in better connectivity, a promise of quicker digital functions, more flexibility and wider reach, enhanced customer experiences, and easier management of data-driven processes. Capitalizing on these opportunities will help organizations improve their productivity and enable them to save and devote the necessary time for operations that are intrinsic to innovation and business success. With 5G, enterprises will also be able to connect with their customers across wider markets with ease and efficiency.
While India's 5G journey is yet to begin, the existing digital ecosystem already offers global vendors and networks huge opportunities to provide technical expertise. We expect to witness the beginning of an accelerated 5G infrastructure deployment serving both urban and rural India by the first half of 2022. This development will boost smartphone penetration and provide a new dimension to India's digital revolution leading to the adoption of advanced technologies such as the Internet of Things, Industrial IoT, edge computing, and robotics across industries like agriculture, e-commerce, healthcar
Technology video | 320 views
Digital Currency Glitches | Global Concerns | VARINDIA News Hour
The ambiguities surrounding the digital currency still leave enough space for the analysis of its unreserved acceptance, trust and anticipation, which are the main drivers for the spread of the network. It is time for the Banks to carefully consider the technology underlying these cryptocurrencies as a potential generic new way of transferring ownership of the value over the long term. Especially Bitcoin is the technology adoption in the presence of network externalities. The growth in digital currencies could make cross-border payments more efficient and help address the $1.7 trillion global trade financing gap. These burgeoning currencies may not solve all trade issues, however, and could further complicate the supply and demand of foreign exchange, especially for countries with limited existing international trade. There is no doubt that the digital currencies are growing: the market is valued at more than $2 trillion and involves more than 15,000 varieties. Based on the Atlantic Council’s CBDC tracker, nine countries or currency unions have launched their digital currencies, while 15 are in the pilot phase. Additionally, 16, including India, are in the development stage, and 40 are in the research stage. Seven are inactive and two have cancelled any plans to launch it.
Digital currencies could provide alternative credit information for trade finance and there’s a $1.7 trillion global trade financing gap, which heavily impacts SMEs who typically don’t have established financial records with banks. Public ledgers of digital currencies could be used to share payment and financial history to underwrite loans for import and export. At the same time, strong privacy protocols would need to be enforced in order to achieve this. The Reserve Bank of India will launch the CBDC from the upcoming financial year. This follows the government’s plans to launch the CBDC that will be backed by bloc
Technology video | 177 views
Paytm management overvalued their share | Digital Currency | VARINDIA News Hour
The initial public offering of Paytm's parent company, One97 Communications, has made history by launching India's biggest ever initial public offer worth Rs 18,300 crore, at the time where the market does not have an appetite for such a large listing. The company has amassed over 50 million strong active consumer base and 25 million merchant base. A higher valuation could have been achieved but we decided to price it at a level where everyone makes money,” said Madhur Deora, group chief financial officer at Paytm, after the public issue. The stock was issued at Rs2,150, got listed at Rs1,950, hit a high of Rs1,955 and then went into a relentless decline. Paytm has its hands full with multiple business verticals ranging from payment gateway, consumer lending and various financial services, among others. Now investors and analysts seem to lack faith as they questioned the company's lack of profits and lofty valuation, whereas the competitors of Paytm including Amazon, Flipkart, Google and others are offering almost the same services. As per Axis Securities, a broking firm, says, “Globally, profit-making payment companies are trading at median nine-times of future earnings, whereas One97 Communication, a loss-making company, is valued at 49.7-times its FY21 revenues.
Paytm will find it challenging to expand its business going ahead. “Paytm’s payments-based business model has been disrupted by Unified Payment Interface, a real-time retail payment system developed by government-backed National Payments Corporation of India or NPCI. As per various published reports, Paytm made an initial public offer of Rs18,300 crore in November 2021. A major part of the issue, i.e., Rs10,000 crore was offer for sale from the existing shareholders who used the IPO to harvest their returns. The company has done lots of financial engineering, despite of that, Paytm's stock
Technology video | 226 views
Disruptive technologies opened vast opportunities for cybersecurity warriors | VARINDIA News Hour
We’re living in an information age where data is the new currency. As the world explores new digital frontiers, the importance of data security is growing exponentially. Once a company crosses the $1 Billion mark, it becomes part of a rare and exclusive club: The Unicorn Club. “Anytime, anywhere” has become the mantra of today’s enterprise workforce. The exponential growth of the Internet interconnections has led to a significant growth of cyberattack incidents often with disastrous and grievous consequences. Employees in remote and home offices and on the road stay productive using applications in the cloud, collaboration tools, and personal devices tied into their corporate network. But as IT stretches to reach a far-flung workforce, it is exposed to more risks. Many organizations have implemented enhanced security across their networks to help protect data. But even with stepped-up measures, there are some simple ways you and your staff can help safeguard your IT environment. The development of more innovative and effective malware defense mechanisms has been regarded as an urgent requirement in the cybersecurity community. The main challenge is how to keep the software and systems updated with the latest patches and limit their vulnerability to cyberattacks. Use the security features that come with your apps supplements other security measures you have in place. Strong passwords are one of the first lines of defense against breaches and changing them occasionally may help keep hackers out.
Digital transformation is helping to make the world a better place, but cyberattacks are an unfortunate part of this reality. These days, the success of any modern business, large or small, depends on the effectiveness of the data security systems it has in place. A survey outlines, there are 46 companies in the Cyber Security industry that have achieved a valua
Technology video | 268 views
Eset reports - India recorded the 6th highest Android threat detection globally | VARINDIA News Hour
ESET Research has released its T3 2021 Threat report, it says on the most frequent external attack vectors, the reason behind the rise of email threats, and shifts in the prevalence of certain types of threats due to fluctuating exchange rates of cryptocurrencies. In the world of mobile, there are alarming Android banking malware detections, which rose by 428% in 2021 compared to 2020, reaching the detection levels of adware – a common nuisance on the Android platform. India recorded the 6th highest Android detection globally, and the highest in the Asia Pacific region (APAC). It also recorded a 6.9% increase in 2021 as compared to 2020. The growing number of Android threats in India highlights an alarming trend, particularly as over 95% of the 600 million smartphone users in India are Android users. Additionally, about 75% of smartphone users in India did not install any mobile security solution, which meant that users could be susceptible to Android banking malware and other forms of mobile threats. To protect themselves against these threats, users should keep their Android devices updated and use reliable mobile security apps, the company reveals. The report highlighted that the most active botnet in T3 2021 was the Mozi, which in the last four months of 2021 amassed more than 162,000 unique IPs in India, 79,000 of which had already been compromised in the previous period.
India had the second highest number of enslaved devices globally with 29% of the unique IPs detected in India. Researchers also revealed that another vulnerability named ProxyLogon was the second most frequent external attack vector in ESET’s 2021 statistics, right after password-guessing attacks. Microsoft Exchange servers fell under siege again in August 2021, with ProxyLogon’s “younger sibling”, named ProxyShell, which has been exploited worldwide by several threat groups.
Technology video | 217 views
Guidelines Issued | Advertising Crypto-Related Products | VARINDIA News Hour
The new crypto Ad Rules have arrived and with this the companies dealing in selling crypto assets may turn into crypto liabilities if they don’t follow the rules. Advertising of virtual digital assets and services needs specific guidance, considering that this is a new and as yet an emerging way of investing, since there is a need to make consumers aware of the risks. The Advertising Standards Council of India has introduced a set of 12 guidelines for the advertisement and promotion of virtual digital assets and services such as cryptos and non-fungible assets, almost three months after Prime Minister Narendra Modi slammed “misleading ads” in the cryptocurrency space in November 2021. The guidelines, applicable on ads of crypto-related products from April 1, 2022, say such ads shouldn't carry the words 'currency', 'securities', 'custodian' and 'depositories'. Ads should carry a disclaimer saying, 'Crypto products & NFTs are unregulated and can be highly risky.' Information on past performance shall not be provided in a biased manner and there may be no regulatory recourse for any loss from such transactions. The rule comes while there were commercials for cryptocurrency-related products and offerings, which have flooded TV screens over the past year promising easy money, convenient trading, fixed returns and more.
The council has specified the size of print to be used for the disclosure and the manner in which it should be broadcast through the audio-visual medium. In social media posts, such a disclaimer must be carried in the caption as well as any picture or video attachments. The disclaimer must be made in the dominant language of the advertisement. No advertisement may suggest that virtual digital assets could be a solution to money problems. No advertisement shall contain statements that promise or guarantee
Technology video | 218 views
The future of digital is trending towards Metaverse | Technology | VARINDIA News Hour
The #metaversetechnology is poised for rapid growth that will open up opportunities for the marketers and it can be helpful to first think of any shared, virtual space: everything from a chat room to games like Minecraft and Fortnite. While these spaces differ in terms of the richness of the virtual experience – text, audio, video, visual detail, sense of space, actions you can take, etc. – what they share is the opportunity for multiple, if not millions, of people to simultaneously connect within an online environment. The COVID-19 outbreak has brought a positive impact on the metaverse market and is driving the increasing interest in the metaverse concept. People began to work remotely while students shifted to online classes and the need and demand for convenient channels or approaches to make online interaction more realistic emerged. The crisis has speeded the emergence of virtual communities as key lifestyle areas for locked-down users which include gaming landscapes and also increasing adoption of mixed reality. The convergence of 5G, artificial intelligence, and edge cloud processing will soon make it easier to deliver more seamless, enjoyable, and cost-effective AR/VR experiences across a variety of connected devices. Just like the internet, industry insiders are predicting the metaverse will become a necessity for all brands.
Metaverse is making headlines in technology, there’s a boom in metaverse crypto projects, each viewing to shape the future of both metaverse crypto projects and the nature of digital real estate. It’s the Gen Z, or someone with higher digital maturity. While we may make our purchases by making a few clicks, the coming generation will definitely want something which is more engaging and immersive.
The metaverse is indeed a virtual reality, but it’s not quite the same thing as what you’ve seen in science fiction blockbusters.
Technology video | 207 views
Technology is changing Education landscape | Education system | VARINDIA News Hour
The Covid-19 epidemic has irreversibly altered the dynamics of almost every element of life on the planet. During the lockdowns and epidemic, technology has proven to be a lifesaver by allowing people to learn and work remotely. Technology-based learning has improved and augmented traditional classroom pedagogy while also transforming online learning. As we all know, classrooms are no longer the same as they were a decade ago. Technology has helped to tackle some of the main challenges faced by the education sector, including reducing teacher workload, increasing efficiency, improving accessibility and inclusion, supporting excellent teaching and improving student outcomes. The use of whiteboards as a substitute for chalkboards in new age classrooms is a common example of this shift. Although the pros and cons of technology in education is debatable, it is undeniable that learning has been made personalised and interactive. Now as we move forward, technology will be changing the landscape of education by making it Artificial Intelligence Driven in the future. Online learning has created a level playing field irrespective of location and delivery channels. Educational technology or EdTech is expected to play a vital role in the Indian education system and grow at a compounded annual growth rate of approximately 30% to reach a market size of $10.4 billion by 2025. This growth is being driven by learning and educational applications that focus on alternative channels of content delivery for K-12, higher education, testing and reskilling. A software as a service (SaaS) based business model has enabled high return on investment for EdTech players, thereby attracting investors to this sector.
As per the survey of PWC, The Indian education system has been widely recognised for its intense focus on academics and continuous pursuit to drive students towards a successful journ
Technology video | 235 views
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