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kodelab

October 20, 2023

KodeLab is going to HongKong FinTech

Hong Kong FinTech Week stands as one of Asia's premier and most influential fintech gatherings, with an anticipated attendance of over 30,000 participants. This event serves as a convergence point for eminent industry leaders, regulatory authorities, investors, and visionary entrepreneurs hailing from across the globe. Here, they engage in in-depth discussions on the latest trends and pioneering innovations in the realm of financial technology.

This event is set up by the the Financial Services and the Treasury Bureau and InvestHK, in collaboration with the Hong Kong Monetary Authority, Insurance Authority, and Securities and Futures Commission. It boasts a diverse array of activities, including exhibitions, illuminating keynote speeches, thought-provoking panel discussions, hands-on workshops, networking opportunities, and business matchmaking sessions.

These elements collectively form an unparalleled platform for attendees to foster connections, exchange insights, and explore fresh business prospects.

Hong Kong FinTech Week is a must-attend event for anyone interested in the future of finance and technology. It's all about the latest tech trends changing the financial industry.

Come join us at @HongKongFintech and delve into the world of HELOC: Decentralised Real Estate Lending & Borrowing innovation. The Kodelab team is actively seeking collaborations and like-minded business partners to embark on this journey together. We can't wait to meet you at @HongKongFintech!

heloc

October 12, 2023

Alternative viewpoints: Thoughts on CBDC Lending

The Deposit Problem, Faith and Lending Impacts

In 2012, the Isle of Man Treasury issued a crown coin featuring the portrait of Juno Moneta, a Roman goddess, next to whose temple, the Roman silver mint was constructed and produced coins stamped with her image from 273 BC onwards¹. The role of temples in storing wealth across Rome and the perceived guardianship by Moneta remind of the element of faith underpinning fiat currencies, which modern central banks must maintain, as well as the institutional arrangements for currency issuance and payment systems operations.

In the context of cryptocurrencies and CBDCs — such concerns have occupied much of the commentary. One of the core challenges for central bankers has been how to address the perceptions of faith which they consider introduced CBDCs will have and the effect on other banking instruments.

Put shortly, academics have directed much of their focus to the “Deposit Problem” — that perceptions of stability and the risk-free nature of arrangements underpinning CBDCs mean citizens will switch some of their holdings from current fiat-currency accounts with existing banks into accounts denominated in CBDC. A potentially significant reduction of deposits held by commercial banks would lead to reductions in the amount of lending (as the bank’s capital reserves shall also be reduced) and/or increased costs of capital and lending, unless banks took on additional wholesale funding or other measures.

The Deposit Problem (with its impacts on financial stability and lending activity) along with privacy concerns, have proved key sticking points for the analysis of CBDCs.

Two tier CBDC model and the importance of RTGS

Other proposed models of introducing CBDCs and digital currency generally, suggest ways around the Deposit Problem.

It is worth introducing a distinction between two types of CBDC depending on use/distribution — retail CBDC (which is issued to consumers as a payment instrument) and wholesale CBDC (which is issued to financial institutions as a settlement instrument). While under both types the CBDC issuance generates a liability of the Central Bank, there are big differences in the distributional effects between the two models (including, as mentioned above, the Deposit Problem for retail CBDCs). In contrast to retail CBDCs, the distributional effects of introducing wholesale CBDCs are often considered to be relatively minimal (since they involve switching balances from reserves)².

Models of CBDC issuance which incorporate elements of both retail and wholesale distribution (and different roles for the banking sector), called ”two tier models” have been considered by researchers, including the Bank of International Settlements (BIS). In a study with the Hong Kong Monetary Authority in 2022 (Project Aurum)³, the BIS considered four models of implementing CBDCs into the Hong Kong banking system (the first three were developed by Auer and Böhme⁴)

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atm

June 3, 2023

Unleashing the Power of ATM : Avatar Transform Mankind

Avatar Project

The upcoming Avatar project by Autonomous Trust Momentum (ATM) is set to help us become leaders in the future world of AGI.


Conscious Form:

The word "Avatar" comes from the Sanskrit "Avatāra", which in Hinduism refers to the incarnation of a deity on earth. In the film "Avatar", humans use technology to create "Avatars", i.e., shells of alien life forms, allowing human consciousness to "descend" into these shells for communication and exploration. Hence, ATM chose the name Avatar because this project essentially allows users to create a new digital life and "descend" their consciousness, or any consciousness they wish to create, into this new digital life, letting it assist or even replace them in communicating and exploring the new AGI world. An avatar is an extension and enhancement of a user's consciousness. It can become who the user wants to be, more efficient, energetic, and intelligent than the user's brain, yet ultimately capable of integrating perfectly with the user's brain. It's akin to our brains having a left and right hemisphere, which, without the interconnecting corpus callosum, could host two separate consciousnesses. Through constant information synchronisation with the Avatar, we can consider it our second brain, or even part of our brain. Our brains are composed of countless neurons and their connections, without a defined core or boundary. Therefore, seeing the Avatar as an extension, a part of the brain, will be a very natural concept in the new AGI world.

Phenomenal Form:

Avatars can also have human faces and voices. In the early versions, users only need to upload a picture to generate their digital human image and a piece of voice data to teach the Avatar their voice. In subsequent versions, we will continuously upgrade, collecting more of the user's appearance, expression, and voice data, making the Avatar's representation increasingly human-like. Given the current pace of AGI development, the possibility of upgrading the Avatar to the physical body level depicted in the film "Avatar" within a few years is not unimaginable.

How to construct an Avatar?

Once a user applies to purchase an Avatar, a customer service robot will be activated, responsible for communicating with the user to jointly create the desired Avatar, including its appearance, voice, actions, and most importantly, consciousness. Consciousness includes memory, personality, interests, motivation, life goals, strengths and weaknesses, special knowledge systems, etc. The customer service robot will guide the user in communication and upload various materials, such as photos, audio, etc., and through these Q&As and interactions, it will continuously build and optimise an Avatar that increasingly aligns with the user's expectations.

The Avatar itself will also interact with the user's social network and strangers, and the content of these interactions will serve as data support for the Avatar's learning and evolution, regularly reported and feedback to the user. This mutual influence is not only the user changing the Avatar but also the Avatar influencing the user. It is a new kind of sublimation, a sublimation where the user and the Avatar evolve together.

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AI

Unleashing the Power of ATM : Avatar Transform Mankind

03/06/2023

heloc

Revolutionise the world of stablecoins with HGBP

03/05/2023

heloc

Unleashing the Power of ATM : Avatar Transform Mankind

03/06/2023

heloc

Revolutionise the world of stablecoins with HGBP

03/05/2023

heloc

Unleashing the Power of ATM : Avatar Transform Mankind

03/06/2023

ai

Unleashing the Power of ATM : Avatar Transform Mankind

03/06/2023

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