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YouTube Launches PayPal Stablecoin Payments for US Creators


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YouTube and PayPal Launch Stablecoin Payouts for Creators

Brief Overview

  • YouTube collaborates with PayPal to enable stablecoin payouts in PYUSD for creators in the US.
  • PayPal’s stablecoin, PYUSD, is supported by US dollar deposits.
  • This initiative seeks to facilitate quicker, more affordable transactions for creators.
  • Initially available only in the US, with possibilities for worldwide reach.
  • Australian creators might gain from improved currency conversion rates.

Launch of Stablecoin Payouts by YouTube and PayPal

YouTube has made a notable advancement in evolving the payment methods for content creators by partnering with PayPal to roll out stablecoin payouts. Creators in the YouTube Partner Program in the US can now receive their earnings in PayPal USD (PYUSD), a shift that may revolutionise the economic landscape for digital creators on a global scale.

Decoding PayPal’s Stablecoin: PYUSD

Introduced in 2023, PYUSD is PayPal’s own stablecoin, completely backed by US dollar deposits and cash equivalents, ensuring dependability and stability. Unlike fluctuating cryptocurrencies like Bitcoin or Ethereum, PYUSD provides a stable digital substitute for the US dollar, allowing seamless transactions online with the benefits of blockchain technology.

Understanding the Integration Process

YouTube’s collaboration with PayPal leverages established payout frameworks, allowing YouTube to issue payments in conventional US Dollars. PayPal then converts these funds to PYUSD for creators who choose to participate, streamlining processes while capitalising on the advantages of blockchain settlements.

Benefits for Creators

The main advantages for creators involve efficiency and reduced costs. Conventional international wire transfers tend to be sluggish and costly. In contrast, blockchain transactions can be completed swiftly, significantly lowering intermediary fees. May Zabaneh, PayPal’s Head of Crypto, highlighted the rapid settlements and decreased fees this system provides, tackling prevalent challenges encountered by digital professionals.

Consequences for Australian Creators

While presently restricted to the US, the impact on Australian creators is considerable. A significant obstacle for local YouTubers is the friction in currency conversion. Payments made in USD typically yield unfavorable exchange rates and substantial transaction costs when transformed to AUD. A global expansion of this initiative could enable Australian creators to retain earnings in USD or convert them more effectively, circumventing traditional banking difficulties.

Expanding Market and Blockchain Features

Since its inception, PYUSD has reached a market capitalization of nearly A$6 billion, functioning on both Ethereum and Solana blockchains. The latter provides enhanced speed and lower costs for transactions, making PYUSD more attractive for international dealings.

Final Thoughts

The partnership between YouTube and PayPal enhances an existing collaboration with Google’s AdSense platform, showcasing a tangible application of Web3 technologies. By incorporating stablecoins like PYUSD, YouTube endorses the use of digital assets in mainstream financial exchanges, suggesting a change in how leading tech companies view global payments.

Recap

YouTube’s partnership with PayPal to provide stablecoin payouts represents a major evolution in payment methods for content creators. With the launch of PayPal’s PYUSD stablecoin, creators enjoy faster and more cost-efficient transactions. While it is currently available only in the US, potential global expansion could significantly aid Australian creators by enhancing currency conversion processes and lowering banking costs.

Q: What is PYUSD?

A: PYUSD represents PayPal’s stablecoin, supported by US dollar deposits, offering a stable digital option enriched by blockchain features.

Q: How does this integration benefit creators?

A: Creators experience quicker transaction times and lower fees compared to standard banking procedures.

Q: Is this feature available to Australian creators?

A: At present, it is accessible only in the US, though there is a prospective pathway for global implementation.

Q: What are the implications of this move for digital payments?

A: It signals an increasing acceptance of digital assets in conventional financial transactions by major tech firms.

Sudio A3 All-Day Wireless Earbuds Review


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Sudio A3 All-Day Wireless Earbuds – 25H Playtime, Bluetooth 5.4, Sweat & Splashproof, Balanced Sound, Clear Calls with Enhanced Mics, USB-C Charging, Made from Recycled Plastics (Black)

ACMA Reaches Agreement with Leading Online Retailers to Stop “Questionable” Mobile Sales


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ACMA’s Latest Strategy to Prevent Unsafe Mobile Sales

ACMA’s Latest Strategy to Prevent Unsafe Mobile Sales

Quick Overview

  • ACMA initiates a voluntary program to curb unsafe mobile sales.
  • Program focuses on illegal devices, including grey market phones.
  • Notable participants like eBay and Gumtree have engaged in the effort.
  • Emphasis on improving emergency call reliability in Australia.
  • Discussion surrounding public access to a register of compliant devices.

ACMA’s Effort Against Unsafe Devices

The Australian Communications and Media Authority (ACMA) has rolled out a voluntary program designed to halt the distribution of unsafe mobile phones and illegal radio gear on online platforms. This action follows rising concerns regarding the reliability of emergency call services, especially after recent incidents linked to failures in triple zero calls.

ACMA secures commitments from leading online retailers to prevent "dodgy" mobile sales

Details of the Safety Commitment

The safety commitment encompasses a wide array of radio communication devices, such as CB radios, illegal jamming devices, mobile phone boosters, and cellular signal repeaters. It notably addresses grey market mobile phones, which have recently faced scrutiny for their failure to provide dependable emergency services in specific scenarios.

Industry Response and Engagement

Several prominent online retailers, including eBay, Gumtree, Temu, and Shein, have already pledged their support for the program. They are responsible for identifying and eliminating illegal or unsafe devices from their offerings. ACMA’s vice chair, Adam Suckling, underscored that safeguarding public safety from such devices is a collective obligation.

Concerns Regarding Emergency Call Reliability

The push for this program gained traction after Telstra and Optus barred 71 Samsung handset models known for emergency call reliability problems. These handsets frequently failed to ‘camp on’ to alternate networks during outages, obstructing their capability to make emergency calls. While many of the affected models can receive updates, some remain incapable of functioning on Australian networks.

Discourse on Compliance Registers

The program stands in contrast to the Australian Telecommunications Alliance’s (ATA) proposal, which supports a public register of compliant devices. While ACMA’s commitment is voluntary, the ATA has urged for a publicly accessible list to allow consumers to effortlessly verify device compliance.

Conclusion

The ACMA’s new program represents a proactive measure towards limiting the sale of unsafe mobile devices in Australia. By collaborating with leading online retailers, ACMA intends to bolster the reliability of emergency services and shield consumers from potentially hazardous technology. The ongoing discussion regarding public access to device compliance information underscores the difficulties in achieving a balance between transparency and safety in the technology sector.

Q: Which devices are included in ACMA’s program?

A: The program focuses on illegal radio devices, including grey market phones, CB radios, jamming devices, and mobile phone boosters.

Q: Which retailers have committed to the initiative?

A: Retailers such as eBay, Gumtree, Temu, and Shein have participated in the program.

Q: What impact does ACMA’s commitment have on emergency call reliability?

A: It aims to eliminate devices that obstruct emergency call functionality, especially during network disruptions.

Q: What is the issue surrounding the compliance register?

A: The debate revolves around whether ACMA should create a public register of compliant devices to facilitate consumer verification.

xinwld Bluetooth Headphones Review


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xinwld Bluetooth Headphones, Wireless Bluetooth 5.4 in-Ear Headphones with 4 ENC Noise Cancelling Mic, Wireless Headphones Deep Bass Wireless Earbuds 40 Hours

HESTA Undergoes APRA Examination Regarding Significant Tech Replatforming Initiative


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HESTA’s Technology Shift Under APRA Oversight

HESTA’s Technology Shift Under APRA Oversight

HESTA incurs APRA's criticism over extensive tech replatforming endeavor

Quick Overview

  • HESTA’s technology shift encountered disturbances impacting 1 million members.
  • APRA enforces extra licence requirements on HESTA.
  • Mandatory independent assessments of risk management and board performance initiated.
  • HESTA’s CEO promises to address issues and enhance member services.

HESTA’s Significant Technology Replatforming Initiative

Earlier this year, HESTA initiated a substantial technology shift, characterized as one of the largest and most thorough projects of its type by an Australian industry super fund. This significant replatforming took the super fund offline from early April until early June, disrupting account access and transaction processes for around 1 million members.

Access Problems for Members

Although the transition concluded in early June, some members still encountered access difficulties for up to a month. Extended wait times at contact centres compounded the issue, delaying solutions and frustrating members.

Response from APRA

The Australian Prudential Regulation Authority (APRA) has raised concerns regarding the project’s management, leading to additional licence stipulations for HESTA. APRA Deputy Chair Margaret Cole highlighted the importance of effectively managed transitions that do not hinder members’ access to their accounts.

Commitments from HESTA

HESTA CEO Debby Blakey recognized the regulator’s worries and expressed apologies to members for the experienced disruptions. Blakey reaffirmed that the transition aimed to enhance service in the long run and that HESTA is dedicated to implementing enhancements to better support its members.

Conclusion

HESTA’s ambitious technology transition initiative has attracted scrutiny from APRA due to extended disruptions in member services. The super fund is now under extra licence conditions and is required to undergo independent reviews to evaluate its risk management and board efficacy. HESTA assures that measures are being adopted to improve service delivery for its members.

Q&A

Q: What initiated APRA’s examination of HESTA?

A: APRA’s examination was prompted by the significant and prolonged disruption in member services during HESTA’s technology transition, affecting access and transaction processing for a large number of members.

Q: What extra conditions has APRA placed on HESTA?

A: APRA has mandated that HESTA conduct independent evaluations of its risk management framework and board effectiveness.

Q: How has HESTA reacted to APRA’s conditions?

A: HESTA has conveyed its dedication to addressing the issues raised by APRA, fully cooperating with the regulator, and applying any necessary improvements to enhance member services.

Q: What was the extent of HESTA’s technology initiative?

A: The initiative was a significant replatforming endeavor, regarded as one of the largest and most comprehensive technology projects undertaken by an Australian industry super fund.

Q: How long did the disruptions persist?

A: The primary transition phase lasted from early April to early June, but some members faced access challenges for up to a month after that.

Q: What are the long-range objectives of HESTA’s replatforming initiative?

A: HESTA aims to provide a superior, more tailored service to its members, ensuring enhanced account access and transaction capabilities.

Bluetooth Headphones with Touch Screen Review


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Bluetooth Headphones, in-Ear Headphones Wireless with Touch Screen, Bluetooth 5.4 with ANC/ENC Noise Cancelling Mic, 60H Playtime, Deep Bass Earbuds with HiFi Sound/7 EQ Modes, IPX7 Waterproof

Cochlear Trials Cutting-Edge Voice-to-Text Integration with Salesforce for Improved Lead Management


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Cochlear’s Cutting-Edge Voice-to-Text Integration with Salesforce

Quick Overview

  • Cochlear is utilizing AWS services to embed voice-to-text features within its CRM framework.
  • The solution leverages Amazon Lex and an internal AI platform called ‘Clark’, built on Amazon Bedrock.
  • This integration seeks to simplify lead management for sales personnel by automating data entry.
  • The pilot program is projected to launch for sales teams before the conclusion of the financial year.

Augmenting CRM with Voice-to-Text Solutions

Cochlear tests voice-to-text Salesforce integration for lead management

Cochlear is trailblazing a new integration that could transform how sales teams handle leads. By incorporating voice-to-text functionalities into their CRM system powered by Salesforce, Cochlear intends to abolish the manual documentation of management notes after meetings. This advancement is a significant evolution for Cochlear’s “sales road warriors” who can now dedicate their attention to primary responsibilities rather than administrative tasks.

The Significance of Amazon Web Services

The integration is strongly dependent on AWS services, notably employing Amazon Lex as the conversational interface. Cochlear has created an internal AI solution, fondly named ‘Clark’, which is based on Amazon Bedrock and its extension, Bedrock AgentCore. This AI platform is tailored to simplify the data input procedure by translating spoken data into structured information that is directly entered into the CRM.

Adaptive AI ‘Clark’

Clark, the AI walled garden, was unveiled at the AWS re:Invent conference by Andy McLaughlin, Cochlear’s director of IT networks and telecommunications. Named in honour of Dr. Graeme Clark, a visionary in cochlear implant technology, this system is still undergoing piloting but displays strong promise for future deployment.

Operational Mechanism

Sales staff will dial a dedicated line following client meetings, where the system will identify the caller and associate them with the relevant customer case in Salesforce. After inputting a security PIN, they can verbally relay meeting information and future goals to the system. This data is processed by Bedrock and entered into the CRM, facilitating instantaneous updates without requiring manual data entry.

Anticipated Deployment

Presently, Cochlear’s technology teams are assessing this system with the intention to implement it across their sales personnel by the end of the financial year. This progression is expected to boost efficiency and productivity, enabling sales teams to prioritize client interactions over data handling.

Synopsis

Cochlear is on the verge of a technological advancement with their voice-to-text CRM integration. By capitalizing on AWS services and their proprietary AI, ‘Clark’, they are poised to refine lead management workflows, minimizing administrative tasks for their sales teams. The launch is projected for the end of the financial year, representing a notable upgrade in Cochlear’s operational effectiveness.

Q: What technology is Cochlear employing for this integration?

A: Cochlear is employing Amazon Lex, Amazon Bedrock, and its extension Bedrock AgentCore for the voice-to-text CRM integration.

Q: What is the goal of Cochlear’s voice-to-text integration?

A: The integration is designed to automate and enhance the process of inputting lead management notes into the CRM, decreasing manual entry for sales teams.

Q: Who is ‘Clark’ and what is its function?

A: ‘Clark’ is Cochlear’s internal AI system, named in honour of Dr. Graeme Clark. It processes conversational data and inputs it into the CRM platform.

Q: When is this system anticipated to be implemented?

A: The system is expected to be introduced to Cochlear’s sales teams later in the financial year.

Q: How does the system maintain security during the procedure?

A: Sales personnel provide a security PIN after calling the dedicated line to guarantee secure data entry.

Q: What advantages could this offer for Cochlear’s sales teams?

A: The integration could greatly lessen the time allocated to administrative duties, enabling sales teams to concentrate more on client engagements and sales goals.

NSW Audit Office and Data61 Leverage AI for Innovative Government Auditing


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NSW Audit Office and Data61 Leading AI Initiatives in Government Audits

Quick Read

  • The NSW Audit Office has teamed up with Data61 to incorporate AI into government auditing processes.
  • This partnership seeks to improve transparency, resilience, and efficiency in public audits.
  • Initial outcomes are encouraging, emphasizing predictive analytics and document examination.
  • Data61 intends to utilize audit techniques to enhance AI governance.
  • Findings from this initiative could inform AI oversight structures across various sectors.

AI and Government Auditing: An Innovative Collaboration

NSW Audit Office collaborates with Data61 on AI in auditing

The Audit Office of New South Wales has initiated a pioneering collaboration with CSIRO’s Data61 to investigate how artificial intelligence (AI) can be applied in government auditing. This prolonged partnership, which started in October, aims to unearth innovative AI applications, conduct pilot projects, and explore technologies to enhance public audit functions.

Objectives and Intentions

The central objective of this partnership is to establish a transparent, resilient, and efficient auditing system that responsibly utilizes AI while preserving public trust and accountability. NSW Auditor-General Bola Oyetunji expressed a positive outlook on the collaboration, underscoring the potential benefits of predictive analytics and the ability to handle extensive documents more proficiently.

Audit Techniques and AI Governance

Dr. Ming Ding, group leader of privacy technology at Data61, recognizes an opportunity to apply traditional audit oversight techniques in managing AI systems. Established auditing methodologies offer a structured oversight framework that can be tailored to supervise AI, ensuring informed and effective human oversight.

By employing these established methodologies, the partnership could shape the creation of oversight frameworks for advanced AI, influencing both governmental and industrial sectors.

Conclusion

This alliance between the NSW Audit Office and Data61 marks a crucial advancement in embedding AI within governmental operations. By concentrating on both technological progress and governance, the partnership aspires to create a model for the responsible implementation of AI that improves public sector auditing.

Q&A Session

Q: What is the primary aim of the NSW Audit Office and Data61 partnership?

A: The primary aim is to explore AI applications to enhance the transparency, resilience, and efficiency of public auditing functions.

Q: In what ways does AI support government audits?

A: AI can enhance predictive analytics, refine document analysis, and optimize auditing processes, ultimately boosting efficiency.

Q: What role does Data61 have in this collaboration?

A: Data61 contributes expertise in AI and privacy technology, assisting in identifying use cases, pilot initiatives, and governance structures.

Q: How might this partnership influence other fields?

A: Insights gained from the initiative could shape AI oversight frameworks in both governmental and industrial sectors, fostering responsible AI usage.

Q: What challenges could arise from integrating AI into governmental audits?

A: Challenges may include ensuring data privacy, sustaining transparency, and establishing effective oversight mechanisms to prevent the misuse of AI technologies.