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THE DAILY INDEX

Technology, AI, software, security, crypto and business

MISCELLANEOUS

TLDR

KRAKEN BECOMES FIRST CRYPTO FIRM TO WIN ACCESS TO FED'S CORE PAYMENTS SYSTEM

Crypto firm Kraken's banking unit has won access to the Federal Reserve's core payment systems. The approval of the master account will allow Kraken Financial to handle transactions more quickly and seamlessly for big clients and professional traders. The approval is a major win for the crypto industry, which has been rebuffed for years in its efforts to tap into the system. It makes Kraken the first crypto firm to be able to move money on the same rails used by thousands of banks and credit unions.

AI THOUGHTS

The runaway intelligence case probably won't happen because the amount of electricity we can generate and the number of chips we can make is pretty limited. Models will certainly be useful in creating the next generation of models in the same way computers are useful tools when designing the next generation of computers, and it seems reasonable to expect that we'll eventually make an AI that is better than any human at anything. However, it is very possible that artificial intelligence will either plateau, just like human intelligence, or we'll run out of resources to compute the next iteration of intelligence.

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