One of its main calls is to protect data, going beyond what tech firms and governments are doing to guarantee individuals more protection by ensuring transparency, agency and control over their personal data.
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JBB: An Artblog!

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Kaledo Art

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One Nice Bug Per Day
YOU ARE THE REASON
he wasn't even looking at me and he found me
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Monterey Bay Aquarium

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@nisteip
One of its main calls is to protect data, going beyond what tech firms and governments are doing to guarantee individuals more protection by ensuring transparency, agency and control over their personal data.
Comfort Vs. Privacy In A Connected World
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Will the EU take Cryptos to the Moon?
Source: https://levelup.gitconnected.com/a-complex-reinforcement-learning-crypto-trading-environment-in-python-134f3faf0d7a On 31 October 2008, and in the light of the near-collapse of the global financial system, Satoshi Nakamoto (probably a pseudonym for a person or a group of people) published a White Paper under the title: “Bitcoin: A Peer-to Peer Electronic Cash System”. This event signaled the beginning of a new era on the nature, features and ideology of money. Since then, more than 15,000 cryptocurrencies have been launched and millions of people have invested in them. It was inevitable that such a situation would trigger regulatory concerns.
What is going on with cryptocurrencies? There are several fascinating aspects of cryptocurrencies. Apart from the features of the blockchain technology and the ideology of private money, the economic implications are of great interest.
Source: https://tenor.com/view/shiba-inu-coin-shibarmy-to-the-moon-shiba-inu-shibarocket-gif-23594653 At this point, in economic terms, the use of the term ‘currency’ is almost a euphemism. Although being payments systems, cryptos are almost entirely used as investment vehicles. Indeed, cryptos have been introduced as tools for the exchange of value but have gradually become much more than that. At the moment, the market capitalisation of the cryptocurrencies’ market exceeds the $2.6 trillion, there are hundreds of online crypto exchanges and cryptocurrencies using different technologies (literally for every taste). What is more, derivatives, such as futures and options, and other novel financial products, such as staking have been created for cryptos. A whole jungle-looking capital market with great imbalance of power has been created, where millions of “hodlers” are waiting for a new project to go “to the moon”, while “whales” and influential people manipulate the prices even through their twitter accounts.
European Commission’s Regulation Proposal In response to the above situation, in the frame of the Digital Finance Package, the European Commission adopted a Proposal for a Regulation on Markets in Crypto-assets in 2020. In a nutshell, the Proposal aims to develop a framework for the provision of crypto-asset-related services. Furthermore, it aims to ensure a high level of consumer and investor protection as well as integrity in the crypto-asset markets, and to address financial stability and monetary policy risks that may arise from the widespread use of crypto-assets in financial markets. Inarguably, one of the most interesting provisions is the one of article 80 of the proposed regulation on the “prohibition of market manipulation”, otherwise called “the Elon Musk clause”. On the other hand, it would be unfair not to refer to some drawbacks of this initiative, such as the overregulation of stablecoins (cryptocurrencies with value linked to another asset, such as the U.S. dollar) and the restriction of access to the market for smaller players.
After all, nobody can promise that the EU’s forthcoming regulation will create a stable environment for the cryptocurrency market and its players. The only sure thing is that cryptocurrencies are here to stay and are about to set a new normal that no rational actor of the financial system can ignore.
Disclaimer:
This is not financial advice Always Do Your Own Research
Source: https://www.luno.com/blog/en/post/dyor-do-your-own-research
Legal Torrenting, Pirate Ships in the Copyrights’ Bay and a (non) Solution
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Article 13 and the End of Intermediaries’ Liability As We Know It
Source: https://www.alphr.com/politics/1009470/article-13-EU-what-is-it-copyright/ For two decades, online platforms enjoyed immunity from illegal content uploaded by their users in the EU. But in 2016, in the frame of the Digital Single Market agenda, the Commission published a proposal for a new directive that would hold online intermediaries responsible for copyright infringing content. This change of policy provoked the ‘Article 13’ concerns, which overwhelmed the internet world.
What is limited intermediary liability E-Commerce Directive provides that Information Society Services Providers (ISSPs) are not liable for mere transmission of, caching and hosting illegal content, on condition that they expeditiously restrict illegal content when asked so. Furthermore, no general monitoring obligation can be imposed to them. This limited liability system allowed online industries to boom.
What would article 13 mean for online businesses All versions of the new directive -discussed during the legislative process- intended to introduce an exemption to the above regime by requiring ISSPs to secure the rights holders’ permission before making copyrighted user-uploaded content available to the public. In other words, online platforms would have to conclude licensing agreements and probably apply upload filters to stay compliant.
Article 13 Explanation:
Reactions The news hit the cyberspace like a bomb. Open letters from the civil society and very important figures on the internet markets and academia (including the co-founder of Wikipedia, Jimmy Wales), addressing EU leaders, severely opposed to the reform. From Silicon Valley lobbyists to simple users, everyone was talking about the end of the internet as we knew it.
Source: https://www.liberties.eu/en/stories/ec-delet-article-thirteen/13036
Youtube’s reaction was the strongest; not only did they raise the “#SaveYourInternet” campaign with pop-ups and videos, but also the CEO, Susan Wojcicki, made two blogposts on 22 Oct 2018 and 12 Nov 2018 claiming, inter alia, that “this legislation poses a threat to both your livelihood and your ability to share your voice with the world” and that “creator economy is under threat”. Creators also responded with numerous videos such as the following one from PewDiePie (one the most successful youtubers worldwide):
The Final Text On 17 April 2019, the final version of EU “Directive on copyright and related rights in the Digital Single Market” was adopted and the text of article 17 (former article 13) indicates some compromise. The scope was narrowed to “online content-sharing service providers” and content uploaded for special purposes (e.g. parody and quotation) was exempted. Moreover, a liability-mitigation mechanism was introduced under which platforms shall not be held liable, if they make ‘best efforts’ to obtain a license and to restrict unauthorised content. [The Commission has published relevant guidance.]
Detailed explanation of article 17:
What is left from this case is a reform of the EU’s intermediaries’ liability regime that may be in (almost) no stakeholder’s interest. Copyright holders will earn remuneration from a smaller audience and users’ ability to produce and consume content will be reduced. Finally, unequal burden will be put on platforms; the big ones will cope using their expensive Content ID technologies, while the smaller will struggle harder than ever to claim market share.
Source: thumbnail of https://www.youtube.com/watch?v=sLGkuJ41xJw&ab_channel=ObsidianAnt
| Part 1 | Part 2 | Part 3 | Part 4 | Part 5 | Here we go again. I was seriously planning not to blog again about non-fungible tokens (NFTs), and instead concentrate on writing a full academic pape…