What will it take to control AI?

The Economist brought together Yuval Noah Harari and Mustafa Suleyman to grapple with the biggest technological revolution of our times. They debate the impact of AI on our immediate futures, how the technology can be controlled and whether it could ever have agency.

Crypto: The World’s Greatest Scam

Bitcoin to Blockchains, to NFTs, to Web 3.0... it's time to find out if it's really all the hype or just part of one of the greatest scams in human history.

EU Just Changed Smartphones Forever

A new EU law will require all mobile devices to have user-replaceable batteries by 2027. In this episode we take a look at the law, it's consequences and right to repair.

‘Treated Risk Management Like A Total Afterthought’: Tina Smith Raises Concern About SVB Failure

During a Senate Banking Committee hearing prior to the Congressional recess, Sen. Tina Smith (D-MN) questioned witnesses about the recent failures of Silicon Valley Bank & Signature Bank.

Tokenization - whats new this time?

Tokenization adoption was poised for success six years ago, but progress was limited. Renewed interest might feel like déjà vu, but stronger business fundamentals and structural changes suggest the path could be different this time.

Check this out HERE.

Worldcoin - An Old Crypto Trick in New Clothing?

Worldcoin has generated a lot of attention lately, raised a lot of capital, and a lot of eyebrows across various countries and communities.

According to CoinFund’s investment thesis, Worldcoin could onboard more than 1 billion new users to crypto, including a new segment of users from developing countries with poor access to finance. All of this sounds good on paper.

On the other hand, there have been some serious concerns regarding Worldcoin’s exorbitant collection of biometric data, questions regarding their business plan, and what the project is actually good for. 

Check out a take on the many concerns HERE.

Core principles for effective banking supervision - Consultation

The Core Principles are the de facto minimum standards for the sound prudential regulation and supervision of banks and banking systems. They are universally applicable and accommodate a range of banking systems and a broad spectrum of banks. The Core Principles are used by supervisors to assess the effectiveness of their regulatory and supervisory frameworks. They are also used by the International Monetary Fund (IMF) and World Bank as part of the Financial Sector Assessment Program (FSAP) to evaluate the effectiveness of countries' banking supervisory systems and practices.

Originally issued by the Committee in 1997, the Core Principles were last substantively updated in 2012. The Committee commenced a review of the Core Principles in April 2022, with the objective of reflecting supervisory and regulatory developments, structural changes affecting the banking system, and lessons learnt from FSAPs since the last update.

The Basel Committee on Banking Supervision has issued a public consultation on revisions to the Core principles for effective banking supervision ("Core Principles").

Changes are proposed to both the structure and contents of the Core Principles standard. The proposed amendments have been informed by several thematic topics reflecting regulatory and supervisory developments in: (i) financial risks; (ii) operational resilience; (iii) systemic risk and macroprudential aspects of supervision; (iv) new risks, including climate-related financial risks and the digitalisation of finance; (v) non-bank financial intermediation; and (vi) risk management practices.

The proposals were developed by a Task Force comprised of both Committee and non-Committee member jurisdictions, as well as the IMF and World Bank.

Check HERE for a comparison between the 2012 and 2023 versions of the Core principles for effective banking supervision

Comments on the revised Core Principles, can be submitted here up to 6 October 2023.