Artificial intelligence as a weapon of war

Artificial intelligence is revolutionising how war is waged, with autonomous systems capable of identifying military targets. Even so, this new technological arms race is causing concern in the international community, which insists on the need for governance mechanisms to manage its use.

 

The militarisation of artificial intelligence is nothing new. For example, missiles and air defence systems have been capable of autonomously selecting and eliminating targets for decades. However, recent developments in this technological field have raised the integration of AI into weapons systems to an unprecedented level.

The war in Ukraine has demonstrated the effectiveness of the use of autonomous drones by both the Russians and Ukrainians, even so, this technology is being used in a wide range of other military applications. From facial recognition systems to autonomous vehicles, AI enables the military to improve accuracy, speed, and decision-making capabilities in combat operations. In addition, deep learning algorithms can analyse vast amounts of data to optimise the maintenance of weapon systems, predict enemy movements, or improve the tactics and strategy of military engagements.

Moreover, some of these autonomous systems enable missions, such as raids, air strikes and state-sponsored assassinations, that would otherwise be difficult to carry out because of the danger of losing pilots, the political or diplomatic backlash and international law repercussions. Therefore, this paradigm shift raises many ethical and legal questions about the responsibility for using and controlling autonomous weapons systems that have generated concern in the international community.

 

Algorithms targeting people in Gaza

The Israeli genocide against the Palestinians has made the need for mechanisms to regulate the use of AI in the military even more apparent. Six Israeli intelligence officials claimed in a report, written by investigative journalist Yuval Abraham and published by the Israeli-Palestinian magazine +972, that artificial intelligence systems have played a key role in the identification – and possible misidentification – of tens of thousands of targets in Gaza.

During the early days of the military intervention, this hitherto secret artificial intelligence system called Lavender used a database to identify 37,000 potential targets based on their alleged links to the Palestinian resistance. Army commanders gave their approval for officers to adopt the lists of people to kill selected by Lavender, without any requirement to check or challenge the algorithm’s selections or to examine the intelligence data on which they were based.

One of the officers who used Lavender questioned whether the role of humans in the selection process made sense. “I would invest 20 seconds for each target at this stage and do dozens of them every day. I had zero added value as a human, apart from being a stamp of approval. It saved a lot of time.”

Other officers described how, for certain categories of targets, Israeli forces applied “pre-authorised” margins on the estimated number of civilians who could be killed before a strike was authorised. Specifically, during the first weeks of the bombing, they were allowed to kill up to 20 civilians during airstrikes against low-ranking militants, destroying entire houses and killing all their occupants.

International humanitarian law experts consulted by The Guardian expressed alarm at the information that the IDF would knowingly accept and authorise collateral damage to this large number of civilians, noting that the military has to assess the proportionality of each attack. This is unlikely to happen unless a whole set of ethical and regulatory standards are developed and enforced in militarising the use of AI.

 

11Onze is the community fintech of Catalonia. Open an account by downloading the super app El Canut for Android or iOS and join the revolution!

If you liked this article, we recommend:

Economy

The lucrative business of war

4 min read

The US House of Representatives has approved...

Economy

Are we on the verge of a new world order?

4 min read

Empires rise and fall in predictable ways, following...

Culture

Geopolitics: from hegemony to multipolarity

3 min read

The geopolitical tug-of-war between East and West in...



Digital systems using artificial intelligence are slowly being implemented, and are the linchpin on which the fourth industrial revolution revolves. Yet these changes are also changing our working lives and raising ethical questions: can algorithm-based monitoring decide whether a company should fire an employee?

 

Technological dystopias have been a popular genre in science fiction films and literature for many years. In these future scenarios, such as those depicted in Aldous Huxley’s novels or in series such as ‘Black Mirror’, humans are subjected to omnipotent control with the help of artificial intelligence. These dystopias have fuelled all kinds of conspiracy theories, but with the success of teleworking and platforms such as Uber, Glovo and Amazon Flex, they run the risk of ceasing to be fiction and becoming a sad reality of our day-to-day working lives.

 

Is it the fault of the method or the algorithm?

It is no secret that digital platforms such as Amazon have been using algorithms for years to manage the millions of customers and third-party sellers on their online marketplace. These are computer programmes known as “bots” (informal for robot) that help to prevent commercial fraud, but with which you cannot have a dialogue in the event of a dispute.

Amazon has recently used the same algorithmic management with Amazon Flex, which provides delivery services by using a fleet of freelance drivers using their own vehicles. Yet, according to a Bloomberg investigation, some of these workers have been fired by automated email sent by an algorithm. The algorithm has decided, based on parameters beyond the employee’s control, that their productivity was not sufficient to justify the job.

We found a similar case with Xsolla, a Russian fintech that laid off 147 employees, 30% of its workforce, using an algorithmic evaluation system. This dismissal went viral when the company’s founder explained by email to the workers, and in a bad way on social media, that the artificial intelligence (AI) system had determined that the workers were not engaged and productive enough.

But without resorting to extreme cases, there is no doubt that the monitoring of working time and the massive collection of data by AI systems is a reality. This method is being implemented to cover the lack of human supervision due to teleworking. Many companies already use a myriad of tools and software applications, such as Microsoft Productivity Score, Track People, Hubstaff and Asana to spy on or monitor the productivity of their employees. It is perhaps not the application of monitoring algorithms per se that is the problem, but the way businesses use these tools that should be questioned.

 

A necessary evil that needs to be regulated

The use and abuse of some of these monitoring devices can lead to the violation of fundamental rights related to workers’ privacy. A fact that has led the European Union to come up with a new regulation, which has not yet been implemented, to minimise the negative repercussions of this rapid increase in the use of robotics and artificial intelligence in our socio-economic and working environment.

Spanish legislation recognises that businesses have the right to adopt the surveillance and control measures they consider most appropriate to check that the employee complies with his or her work obligations and duties, as long as his or her dignity is respected. However, within the Data Protection Law, there is a more specific regulation, related to data protection within digital environments, which states that workers have the right to privacy in the use of digital devices made available to them by the company.

The normalisation of the coexistence of people and artificial intelligence in the workplace has only just begun, and it will be years before the legal, legislative and regulatory uncertainty it creates is resolved. But, above all, it will require an effort of transparency and trust from both sides, workers and companies, to delimit the red lines that should not be crossed.

 

11Onze is becoming a phenomenon as the first Fintech community in Catalonia. Now, it releases the first version of El Canut, the super app of 11Onze, for Android and Apple. El Canut, the first universal account can be opened in Catalan territory.

If you liked this article, we recommend you read:

Finances

The biggest challenge for SMEs

4 min read

Accelerating digitalisation has been one of the most important

Management

Digital nomads: making the world your office

4 min read

Tired of working from home? Become a digital nomad and

Separate leisure from work

1 min read

In the last year, many people have had to adapt to new ways



While the United States and the European Union have already channelled nearly 75 billion euros into the production of next-generation semiconductors, Washington is intensifying sanctions against China to avoid losing a strategic battle for technological supremacy that will have global implications.

 

In recent years, the technology war between the United States and China has intensified in producing integrated circuits essential to several applications, from smartphones to automobiles, and military equipment to scientific research.

For decades, the US has dominated the microchip production industry, with companies such as Intel, Qualcomm, and Nvidia giving it a strategic advantage in an increasingly digitised world. Although they currently have only a 10% share of global semiconductor production, they dominate the value chain by 40%. In addition, they have absolute control over the large microchip producers in Taiwan, South Korea and Japan, as well as over ASML, the leading Dutch company in the development and manufacture of photolithography machines used to produce these integrated circuits.

The entry of new players such as China is seen as a threat to US technological hegemony. In this context, for years Washington has been approving a series of sanctions to castrate the Asian giant’s technological development and competition on national security justifications while forcing its client states to apply the same restrictions.

 

More sanctions and more subsidies

As Bloomberg reported on Sunday, the United States and the European Union have already channelled nearly 75 billion euros into the production of next-generation semiconductors, intensifying a global stand-off with China over chip supremacy. Last month alone, US administration officials announced 5.65 billion in grants to Micron Technology Inc., the largest US maker of computer memory chips.

This is the first phase of an investment of some 351 billion euros earmarked by governments in the US sphere of influence to boost the development and production of the most advanced microprocessors.

At the same time, Washington has revoked licences that still allowed companies such as Intel and Qualcomm to sell some chips for laptops and mobile phones to Huawei, the already-sanctioned Chinese telecommunications equipment manufacturer.

For its part, Beijing has recently announced subsidies for companies that purchase domestically produced artificial intelligence (AI) chips. Under this initiative, the city aims to be 100 per cent self-sufficient in smart computing infrastructure hardware and software by 2027.

“There’s no question that we’ve passed the Rubicon in terms of technological competition with China, particularly in semiconductors,” said Jimmy Goodrich, a senior China official and strategic technology advisor to Rand Corp. “Both sides have basically made this one of their top national strategic objectives.”

 

The negative impact of sanctions

Sanctions and export controls have not only hurt China, limiting its access to the latest generation of semiconductors, but also on Western companies that have lost a large share of the market and revenues.

On the other hand, this has accelerated technological development and competition from Chinese companies in a sector also considered strategic for their government, which is intensifying its domestic investments in more advanced chips, while reducing the market shares of US companies.

Similarly, Taiwanese chipmakers, which currently own almost half of the world’s chip production capacity, are likely to see their global market share decline as a result of China’s investment drive. As technology and national security become increasingly intertwined, Western sanctions against semiconductors are unlikely to temper the Asian giant’s ambitions.

11Onze is the community fintech of Catalonia. Open an account by downloading the app El Canut for Android or iOS and join the revolution!

If you liked this news, we recommend:

Economy

Why doesn’t China disclose all its gold reserves?

4 min read

China is the world’s largest gold producer and has been...

Economy

The Balkans: close to China and far from the EU

6 min read

The Western Balkans, a region in southeastern Europe,...

Culture

The rising power of the BRICS

4 min read

The emerging states that comprise the BRICS group...



The US Federal Reserve will launch this summer a real-time payments system designed to streamline transactions between bank accounts. This is a development that some critics see as a further step towards a digital dollar to counter cryptocurrencies and eliminate cash.

 

In an increasingly digital and interconnected world, payment systems are evolving to meet the needs of businesses and consumers who demand access to fast payment services to make transactions more efficient and better control their cash flow. The private sector has been at the forefront of this evolution, but governments also want to play a role.

To meet these needs, the US Federal Reserve plans to introduce a new payment system known as FedNow in July this year. This new instant payment platform is designed to enable secure and efficient payments in real-time, 24 hours a day, 365 days a year.

This is a great advantage for businesses and consumers, as they will not have to rely on traditional processing times, which can now be several business days. The new system will allow funds to be transferred instantly between participating bank accounts, and as a non-profit governmental organisation, it will be able to offer more competitive prices.

On the other hand, the adoption of FedNow by US banks, corporations and major financial institutions could result in other foreign entities being forced to use the service. This is significant because it could help the dollar, also in digital form, to perpetuate its reign in international cross-border transactions. This is a possibility that cannot be ruled out in the face of increasing de-dollarisation and the announcement of the launch of a new currency by the BRICS group.

 

A new payment system linked to the digital dollar?

In parallel with the launch of FedNow, the Federal Reserve is considering the possibility of introducing the digital dollar. As other countries have done already, this would involve putting into circulation a Central Bank Digital Currency (CBDC). This proposal has been criticised on the grounds that it could affect the fundamental freedoms of citizens, increasing the ability of governments to track and control the population.

In this regard, Florida Governor Ron DeSantis and presidential candidate Robert Kennedy Jr, questioned the motives behind the possible introduction of the digital dollar and the new FedNow payment system. Specifically, Robert Kennedy Jr stated that the issuance of a digital dollar will serve as a mechanism to control US citizens, just like the FedNow payment system, declaring that “the distinction between FedNow and a CBDC is important from a technical point of view, but not from a civil liberties point of view”.

As a result of these statements that seek to link the two proposals, yet another controversy has been unleashed on social networks, in which content is circulating that claims that the Federal Reserve will launch a central bank digital currency called FedNow this July, which will give more power to the government to ratify financial slavery and political tyranny.

This misinformation has gone viral to the point that the Fed has deemed it necessary to officially deny it, stating that “FedNow is not related to a digital currency. FedNow is a payment service that the Federal Reserve makes available to banks and credit unions to transfer funds. The FedNow service is neither a form of currency nor a step toward the elimination of any form of payment, including cash.”

Additionally, federal officials – including Fed chair Jerome Powell and former vice chair Lael Brainard – noted that a digital dollar could still be years away from becoming a reality, but that FedNow could emerge as a better alternative to a CBDC. Be that as it may, the controversy is served, and is likely to further boost the case for cryptocurrencies as decentralised digital currencies that can be used as a defence against CBDCs or other state-backed monetary alternatives.

11Onze is the community fintech of Catalonia. Open an account by downloading the super app El Canut for Android or iOS and join the revolution!

If you liked this article, we recommend:

Economy

The future currency of the BRICS

4 min read

The BRICS group, which brings together the two big...

Economy

“CBDCs threaten fundamental freedoms”

3 min read

Regulators want to sell us the image that digital currencies...

Economy

The beginning of the end of the dollar supremacy?

6 min read

The new emerging powers are trying to reduce their...



The Quantum Financial System (QFS) will introduce a new decentralised system of cross-border interbank payments based on a digital currency underpinned by physical assets such as gold.

 

While the world of financial services is constantly evolving, the Quantum Financial System (QFS) has the potential to revolutionise a banking sector that is often constrained by legacy systems that are overstretched by the need to adapt to the possibilities offered by new technologies.

Before delving into the role of gold within the QFS, it is important to understand that it is a new technological development that would use quantum computing and cryptography through a blockchain platform which would allow for secure and fast transactions without the need for intermediaries such as banks and financial institutions.

One of the main advantages of QFS is its ability to prevent fraud and money laundering, which are significant concerns in today’s financial system. This would be achieved through the use of advanced encryption and authentication technologies that would ensure the immutability of data, preventing manipulation and guaranteeing the integrity of transactions.

In addition, a quantum financial system would be particularly useful in applications where algorithms are fed by real-time data streams, facilitating the transfer of information and enabling near-instantaneous financial transactions, which customers could see immediately updated on their digital platforms.

 

The role of gold in the QFS

One of the ways in which the QFS could revolutionise the financial sector is through the creation of a digital currency backed by physical assets. This would not be a cryptocurrency but a digital currency that could be backed by physical gold, which would guarantee its value and stability. Thus, only gold-backed coins with a digital gold certificate would be able to participate in the transactions of a QFS.

The printing and pouring of large amounts of money into the economy through increasingly unsustainable fiscal deficits are damaging the credibility of the global fiat currency system and deteriorating government finances. It is therefore not surprising that economic uncertainty and loss of confidence in fiat currencies incentivise a return to fiat currencies backed by safe-haven assets such as precious metals.

In this context, gold is likely to play an increasingly important role in supporting currencies and transactions, a monetary system in which the value of currencies is underpinned by their convertibility into gold. The example of the QFS is not unique; Zimbabwe is about to introduce a gold-backed legal tender digital currency in order to help stabilise the economy in the face of the rapidly depreciating Zimbabwean dollar. A trend that some analysts see as an unmistakable sign of a paradigm shift in the international monetary system.

 

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.

If you liked this news, we recommend:

Technology

All set for a quantum financial system?

4 min read

The quantum financial system (QFS) is a new...

Finances

Blockchain’s breakthrough in the payments system

3 min read

Although 2022 was a turbulent year for cryptocurrencies...

Economy

Are we returning to the gold standard?

2 min read

Countries outside the Western sphere are buying up large...



In recent years, the belief that our poor email management is highly harmful to the environment has spread out. The latest research relativises its impact and points to other digital habits as responsible for a significant part of global warming.

 

The book ‘How Bad Are Bananas? The Carbon Footprint of Everything’, published in 2010, popularised the idea that emails have a large carbon footprint. Its author estimated that each message, even if it is just to reply “thank you”, generates a minimum of 0.3 grams of CO₂ due to the energy consumption associated with our devices and, above all, with large data centres. And it should be borne in mind that between 150 billion and 300 billion emails are sent daily around the world, although most of them are ‘spam’.

Some recent research relativises this alleged environmental damage of our messages. Apart from freeing up some space on the servers that host them, there is no evidence that it substantially reduces the energy consumption of the digital infrastructure if we avoid our expendable emails and delete unnecessary ones. 

We very rarely switch on a mobile phone or computer just to send an email and both storage and data transmission systems run relentlessly, even when we are not using them, so energy consumption remains fairly stable.

An updated perspective

With the new estimates, it is estimated that heating water in a kettle requires more electricity than sending and storing a thousand e-mails. And deleting that thousand messages from our inbox would have a carbon benefit of about five grams of CO₂, the minimum our computer would generate in half an hour if we kept it on to delete them. Although it may be hard to comprehend, manually deleting emails can have a greater impact on carbon emissions than storing them.

In fact, the first effective measure to limit the carbon footprint of email is to reduce as much as possible the number of electronic devices we buy to manage it and to keep them as long as possible, as their manufacture generates a significant carbon footprint. 

But above all, safeguarding the environment means using energy-efficient devices and rationalising the time we keep them switched on: we should not forget that part of the electricity we use to power these devices comes from fossil fuels.

The source of excessive traffic

Obviously, avoiding unnecessary emails, writing concisely, including hyperlinks to files rather than attachments, limiting the number of recipients, regularly emptying the ‘spam’ folder and unsubscribing from newsletters that do not really interest us are best practices that will reduce Internet traffic. But if we really want to contribute with our digital habits to the good health of the planet, we should look beyond our e-mail. 

Email exchanges account for only 1% of Internet traffic, which is tiny compared to video streaming services, which already account for more than 80% of what goes online. And that is an appreciable amount of tons of CO₂.

 

If you want to wash your clothes without polluting the planet, 11Onze Recommends Natulim.

If you liked this article, we recommend:

Sustainability

Bitcoin consumes as much electricity as Sweden

3 min read

How can something that does not physically exist pollute?

Sustainability

What are carbon credits and how do they work?

2 min read

The Kyoto Protocol laid the foundations for offsets as...

Savings

Conscious consumption: key to changing the world

2 min read

Can we change the world? What is our real capacity to impact...



This April 2024, a bitcoin halving will halve the reward given to miners for each validated block. In previous halvings, bitcoin experienced triple-digit price hikes. Create a Bitvavo account through 11Onze Recommends, and we’ll give you €20 to start trading cryptocurrencies!

 

Bitcoin halving is a scheduled event in which the rewards for mining and verifying new blocks are reduced to 50%, or in other words, miners only earn half the amount of BTC per block mined.

One halving occurs every 210,000 blocks, or approximately every four years. Currently, about 19.5 million bitcoins are in circulation, so there are still 1.5 million bitcoins to be mined before the self-imposed issuance limit of 21 million BTC is reached.

This year’s halving will take place between 19 and 20 April, when the reward will drop from 6.25 BTC to 3.125 BTC per block. At the same time, it will reduce the inflation rate of the cryptocurrency and is expected to have a positive effect on the price of bitcoin.

 

The halving contagion effect

This enthusiasm for BTC halving may lead to more investment in altcoins because investors are more optimistic about the possible price growth of other cryptocurrencies.

The prices of other assets have already been dragged up by the recent Bitcoin price rise. The Solana and Avalanche blockchains have experienced a significant increase in value. As is the case of meme coins, which have reached the top 100 cryptocurrencies by market capitalisation.

A cryptocurrency exchange in your hand

Buy, sell, add or withdraw money in any format. It can be fiat currencies like the euro or cryptocurrencies.

There are more than 190 different crypto assets!

I want the €20 trial

Bitvavo that 11Onze Recommends

Bitvavo, the cryptocurrency trading platform that 11Onze Recommends, is registered with the Central Bank of the Netherlands. It is an exchange that not only lets you explore the varied and exciting world of crypto assets in a safe, easy and intuitive way, but now allows you to trade more than 200 cryptocurrencies.

Create a Bitvavo account through 11Onze Recommends and we’ll give you €20 to start trading cryptocurrencies! And if you want to transfer your funds from Binance to Bitvavo, here is a tutorial on how to do it.

11Onze Recommends Bitvavo, cryptocurrency trading made easy, safe and at a good value.

If you liked this news, we recommend:

Technology

Bitcoin Halving: What is it and what does it do?

3 min read

In the world of Bitcoin, halving is an automated event...

Technology

Why have cryptocurrencies soared?

3 min read

Despite the recent downward correction, Bitcoin and...

Finances

Cryptocurrencies with Bitvavo

3 min read

Cryptocurrencies come to La Plaça from the hand of the...



Despite the recent downward correction, Bitcoin and other cryptocurrencies have experienced a meteoric price rise that has benefited 11Onze members who invested in cryptocurrencies through Bitvavo. We have a look at the latest developments in the crypto world with Oriol Blanch, Affiliate Manager at Bitvavo.

 

As expected, the imminent halving and the entry into play of ETF (Exchange Traded Funds) trading linked to Bitcoin spot have driven the popularisation of crypto asset investment through traditional markets and have contributed to the rise in Bitcoin’s value.

It is true that the price of Bitcoin has experienced a downward correction of 11.65% since reaching an all-time high of $73,949 and that ETF flows have stabilised, but the rise in the value of the reigning cryptocurrency has been spectacular. As Oriol Blanch explains, “Many institutions are beginning to trust this asset, and it is slowly becoming clear that it is an asset that is here to stay. More and more businesses are accepting this cryptocurrency.”

Beyond bitcoin

As BTC continued to rise in price, the market for altcoins, i.e. alternative cryptocurrencies to the most popular crypto assets and with the largest market capitalisation, such as Bitcoin and Ethereum, also soared. “There are many other assets that have been advanced by the rise of Bitcoin and that have brought many benefits to the community or investors”, says Blanch.

The Solana and Avalanche blockchains have seen significant increases in value. Low transaction fees and the greater speed of these two cryptocurrency networks compared to Ethereum have facilitated a marked rise in transaction volume.

As Bitvavo’s affiliate manager points out, “Ethereum is a very old blockchain, very secure and very decentralised, but on the other hand it is costly. You can pay between $15 and $50 per transaction, which is not scalable.”

 

The popularity of meme coins

One of the topics on the agenda at Paris Blockchain Week, which ran from 9 to 11 April, was meme currencies or meme coins, virtual assets based on internet memes. Influencers and investor groups are constantly bombarding social networks about these projects.

Thus, despite their origins, meme coins have carved out an important place in the market and some have even made it into the top 100 cryptocurrencies by market capitalisation. Trendy meme coins, such as Pepe, Floki, Bonk and others, have seen a massive spike in value. And, as Blanch says, “Being able to make money speculating with these assets seems to be very attractive to people who are keen on this sector.”

11Onze Recommends Bitvavo, cryptocurrency trading made easy, safe and at a good value.

if you liked this news, we recommend:

Technology

Bitcoin Halving: What is it and what does it do?

3 min read

In the world of Bitcoin, halving is an automated event...

Finances

Cryptocurrencies with Bitvavo

3 min read

Cryptocurrencies come to La Plaça from the hand of the...

Technology

Cryptocurrency: Europe’s golden opportunity

2 min read

Oriol Blanch, Bitvavo’s affiliate manager, returns to...



The automation of work is creating an occupational metamorphosis, in which tasks usually done by humans are transferred to a set of technologies. Economics is not spared, and artificial intelligence is also gaining ground. But are economic forecasting algorithms a real alternative to economists?

 

As a result of the digitisation process of the last decades, huge amounts of data are being generated that are transforming the methods by which we analyse statistical models. Storing, registering, and analysing this constant flow of information has become an essential task for many sectors of the economy.

A technological revolution has opened up new possibilities in economic and financial forecasting capabilities. The analysis of these large databases, known as ‘big data’, would not be possible without artificial intelligence (AI). A rather broad term that encompasses a whole range of ideas.

Even so, there are two concepts in this field: machine learning (ML) and deep learning (DL), mathematical algorithms that allow computers to identify patterns in data and make predictions by imitating humans. Two computational advances that form the basis of economic forecasting with artificial intelligence.

 

An algorithmic crystal ball

Experts often compare algorithmic forecasting to “a crystal ball”. Indeed, this metaphor is the title of an internal study published by the International Monetary Fund (IMF), in which the authors of the research, Jin-Kyu Jung, Manasa Patnam and Anna Ter-Martirosyan, try to establish whether macroeconomic forecasting algorithms can improve on the results predicted by IMF economists themselves.

The study applies three different machine learning algorithms to a common economic forecasting problem, and the results are surprising. In all three cases, the algorithmic prediction far surpassed the benchmark performance of IMF economists.

In their observations, the authors warn that there are still factors that require further research. They also state that, for these predictions to be truly effective, real-time observations would have to be included. They explain that there is some freedom in the introduction of the parameters used by the algorithms, and that this may be key to determining their effectiveness.

Even so, in their conclusion they agree on the fact that the potential of machine learning in terms of statistical analysis of economic data is evident; and that, although these predictions made by algorithms cannot fully replace the work of economists, they represent a valuable additional reference when making decisions on economic forecasting.


11Onze is the community fintech of Catalonia. Open an account by downloading the super app El Canut for Android or iOS and join the revolution!

If you liked this news, we recommend:

Management

The job of the future: 56 skills to success

3 min read

What will the job of the future look like and what skills...

Technology

Work automation: should I be worried?

3 min read

Economists make predictions about where job...

Economy

Algorithms now also play at being economists

3 min read

Automation, artificial intelligence and robotics are...



Bitvavo accepts a variety of methods to top up your account and as of this month introduces credit card deposits through both its website and mobile app, giving you even more flexibility in managing your account.

 

Bitvavo, the cryptocurrency platform that 11Onze Recommends, is characterised by being a simple and intuitive-to-use exchange. With a focus on security and user experience, it offers a wide variety of options for adding money to your account and already allows deposits by credit card.

The platform accepts deposits made with Mastercard and Visa cards, except Maestro and business cards, through both its website and mobile app. Users have to validate the cardholder’s name and deposits are subject to a maximum limit of €10,000.

This update also introduces the ability to save your card details, further simplifying the process of depositing money into your account for future transactions. Please note that these new features are available from version 2.36 of the app.

 

How to transfer funds using a credit card

App:

  • Open the Bitvavo app and log in to your account.
  • Tap on the + next to your euro balance and select the Credit card option.
  • Fill in your details, including first name, last name (as stated on your card), card number, expiration date, and CVC.
  • Click Continue and confirm the transaction in your banking environment.
  • When the transaction is complete, you’ll receive a confirmation via email.

Website:

  • Go to the Bitvavo website and log in to your account.
  • Choose the Deposit option.
  • Select Credit card as the payment method.
  • Fill in your details, including first name, last name (as stated on your card), card number, expiration date, and CVC.
  • Click Continue and confirm the transaction in your banking environment.
  • When the transaction is complete, you’ll receive a confirmation via email.

If you can find more information here

At a time when the price of Bitcoin is breaking all-time highs,11Onze Recommends Bitvavo, cryptocurrencies easily, securely and at a low cost.

If you liked this news, we recommend:

Technology

Bitvavo now offers more than 200 cryptocurrencies

2 min read

If you are interested in buying and selling cryptocurrencies,...

Invest

How do I transfer funds from Binance to Bitvavo?

4 min read

Binance is under pressure amid a spate of legal issues...

Bitvavo and crypto news

1 min read

Oriol Blanch, Bitvavo’s affiliate manager, returns to 1Onze Podcast to discuss the...



App Store Google Play