The BRICS nations are on the verge of reshaping the landscape of global financial institutions, according to Roman Marshavin, the World Bank Executive Director for Russia. Marshavin forecasts that Brazil, Russia, India, China, and South Africa, along with their new members, are poised to dominate the World Bank and the International Monetary Fund (IMF) as macroeconomic and demographic dynamics shift away from Western dominance.

Marshavin, who has represented Russia and Syria at the World Bank since November 2018, outlined his views in a recent interview with TASS. He pointed out that the Western countries currently hold sway over these Bretton Woods institutions. However, he emphasized that this control is set to change due to inevitable economic and demographic trends favoring the BRICS countries.

“As in any other corporation, the ‘shots are called’ by those who own a controlling stake,” Marshavin explained. He noted that while Western nations currently hold that controlling stake, the emerging macroeconomic and demographic realities indicate that the BRICS coalition will eventually take over. This transition, he suggested, is a matter of time and will be driven by the broader global majority led by BRICS nations.

BRICS, which stands for Brazil, Russia, India, China, and South Africa, recently expanded its membership to include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE). This expansion significantly enhances the group’s geopolitical and economic influence, setting the stage for a more balanced global financial system.

Marshavin called for active participation and cooperation with friendly nations to hasten this transition. He urged BRICS countries to remain patient and avoid falling into the traps set by those who cling to the outdated global system. “We need to patiently work on bringing this moment closer and not give in to the provocations of those who cling to the outdated global system,” he remarked.

Highlighting Russia’s crucial role in this anticipated shift, Marshavin stressed the importance of Russia’s voice in the global financial arena. “Russia’s voice is important here, and it would be irrational not to use those possibilities, particularly now as we observe a new world order emerging,” he stated. He underscored the necessity for Russia and other BRICS nations to adapt to the evolving global landscape and leverage their growing influence.

The shift in control over the World Bank and the IMF from Western nations to BRICS countries reflects broader changes in the global economic order. As emerging economies continue to grow and assert their influence, the balance of power within these institutions is likely to reflect these new realities. Marshavin’s comments signal a strategic push by BRICS nations to align themselves with the evolving economic and demographic trends, positioning themselves as key players in the future of global finance.

This forecasted shift is part of a larger trend where emerging markets are increasingly taking center stage in global economic affairs. The growing clout of BRICS countries, along with their expanded membership, underscores a move towards a more multipolar world where economic power is more evenly distributed. As BRICS nations prepare to take on a more significant role within the World Bank and the IMF, they are also setting the stage for a more inclusive and representative global financial system.

Marshavin’s remarks come at a time when the global economic landscape is undergoing significant changes. The increasing integration of emerging economies into the global financial system is reshaping traditional power structures and creating new opportunities for cooperation and development. For BRICS nations, this represents a chance to drive economic growth and development on their terms, aligning with their unique needs and priorities.

The implications of this power shift are profound. As BRICS nations gain more influence within the World Bank and the IMF, they are likely to advocate for policies and initiatives that reflect their interests and priorities. This could lead to a more balanced and equitable global financial system, one that better addresses the needs of developing and emerging economies.

Marshavin’s vision of a BRICS-dominated World Bank and IMF also reflects a broader push for reform within these institutions. For years, there have been calls for greater representation and a more democratic governance structure within the World Bank and the IMF. The increasing influence of BRICS nations could be a catalyst for such reforms, leading to a more inclusive and effective global financial system.

As the BRICS nations prepare for this anticipated shift, their focus will likely be on building strong alliances and partnerships with other emerging economies. By working together, BRICS countries can leverage their collective economic power to drive meaningful change within the World Bank and the IMF. This collaborative approach will be crucial in ensuring a smooth and effective transition of power within these institutions.

Marshavin’s comments highlight the importance of strategic patience and cooperation in achieving this goal. While the transition may take time, the growing influence of BRICS nations within the global financial system is inevitable. By staying focused and working together, BRICS countries can ensure that they are well-positioned to shape the future of global finance.

Roman Marshavin’s forecast of a BRICS-dominated World Bank and IMF signals a significant shift in the global economic order. As emerging economies continue to rise, the balance of power within these institutions is set to change, reflecting new economic and demographic realities. For BRICS nations, this represents a historic opportunity to drive meaningful change within the global financial system, creating a more inclusive and representative economic order. As the world watches this transition unfold, the strategic actions and cooperation of BRICS countries will be key in shaping the future of global finance.

With the grand opening ceremony setting the stage, the 2024 Paris Olympics have officially begun, and the betting world is buzzing with excitement. Polymarket, a decentralized crypto-powered platform, has seen a surge in activity, with millions of dollars already placed on various Olympic outcomes. The platform has even added an “Olympics” category to accommodate the influx of bets.

A whopping $1.2 million has been wagered on which country will win the most medals, showcasing the global enthusiasm for the event. Not far behind, $1.1 million has been placed on predictions for the country that will secure the most gold medals, with the United States leading as the favorite. An impressive $168,711 has been bet on the U.S. taking home the most golds.

Bets aren’t limited to overall medal counts. Individual sports have attracted significant attention as well. For example, the gold medal winners in men’s and women’s basketball have seen bets of $355,000 and $101,000 respectively. Soccer and various swimming events are also popular among bettors.

Interestingly, while most wagers focus on countries and sports, a few individual athletes have caught the eye of gamblers. American swimmer Katie Ledecky and Spanish tennis player Rafael Nadal are among the few athletes featured on Polymarket, with bets placed on the number of gold medals they will win.

Polymarket’s popularity has skyrocketed recently, allowing people from around the world to bet on a wide array of events, from politics and sports to high-profile statements made on television. The platform operates on the Ethereum and Polygon blockchains, ensuring secure and transparent transactions. This month, trading volume has surged, driven by bets on the upcoming U.S. presidential election. The November election has become such a hot topic that one of the bets has even found its way into the Olympics category.

One particularly quirky bet, dubbed the “Staircase Olympics,” asks which of the U.S. presidential candidates, Joe Biden or Donald Trump, will ascend a staircase to board a plane faster in their next recorded video after July 25. As of today, $5,500 has been placed on this unusual wager, adding a touch of the bizarre to the Olympic betting frenzy.

Polymarket’s rise in popularity is a testament to the growing intersection of cryptocurrency and mainstream events. The platform’s ability to attract such substantial bets for the Olympics highlights the global interest in both the Games and the burgeoning world of crypto betting. As the Paris Olympics continue, it will be fascinating to see how the betting landscape evolves and which predictions come true.

The Olympics have always been a stage for athletic prowess and national pride. Now, with platforms like Polymarket, they have also become a hotbed for crypto enthusiasts looking to make their mark. Whether betting on medal counts, individual athletes, or even presidential candidates’ boarding speed, the excitement is palpable, and the stakes are higher than ever.

At the Google Developer Conference in May, Google’s AI Overviews made headlines by inserting AI-generated summaries into search results. While its rollout had its hiccups, the feature stayed put. Now, Microsoft is jumping into the ring with Bing, adding generative search features that promise to revolutionize the way we browse the web.

Microsoft’s latest move blends generative AI and large language models directly into Bing’s search results. The tech giant claims this new feature crafts custom, dynamic responses to user queries, mixing the best of Bing’s traditional search foundation with advanced AI. “This new experience combines the foundation of Bing’s search results with the power of large and small language models,” Microsoft declared, pushing boundaries in the search engine game.

The buzz around Microsoft’s announcement was quickly overshadowed by OpenAI’s reveal of SearchGPT, a bold move seen as a direct jab at Google’s search dominance. As of January 2024, Google holds a commanding 81% of the desktop search market share, while Bing lags behind with a modest 10.51%, according to Statista.

Microsoft is keen on providing users with more personalized and accurate search results. “It understands the search query, reviews millions of sources of information, dynamically matches content, and generates search results in a new AI-generated layout to fulfill the intent of the user’s query more effectively,” they explained. The new Bing interface will present AI-generated answers, crafted by models trained on vast datasets, aiming to deliver precise and relevant responses. Plus, a “Document Index” feature will delve deeper into topics, offering additional information tied to the user’s query.

Bing’s AI responses will also include citations, with clickable links directing users to the original sources for verification or further reading. This feature is currently available to a select group of users, with Microsoft taking a cautious approach, promising a gradual rollout and a focus on incorporating user feedback. “We’re slowly rolling this out and it will take time,” the company stated, adding that more details will be shared in the coming months.

Microsoft is also careful not to abandon traditional search results, albeit moving them to a sidebar on the right side of the page. “We’re mindful of the impact on content publishers,” Microsoft emphasized, ensuring that the generative search experience includes traditional results and more clickable links, like those in the AI-generated results.

The search engine battleground is heating up with OpenAI’s SearchGPT being tested by over 10,000 users. Microsoft, a key investor in OpenAI, hasn’t branded this latest Bing feature under its Copilot name, despite Bing Chat’s reliance on OpenAI’s GPT-4 and Dall-E 3 technology. Meanwhile, Perplexity, a free AI chatbot dubbed an “answer engine,” is also making waves, blending search engine functionalities with conversational AI.

As these AI-driven search tools evolve, the spotlight is on tackling misinformation, avoiding AI hallucinations, and ensuring reliable citations. Microsoft’s cautious approach aims to balance innovation with user trust, promising a blend of traditional search integrity and cutting-edge AI capabilities. The tech world watches closely as Bing’s new features could reshape the search experience, setting the stage for a new era of digital exploration.

Edward Snowden, the former NSA employee turned whistleblower, sent a clear message to Bitcoin enthusiasts on Friday, urging them to approach crypto-friendly politicians with a healthy dose of skepticism. Speaking virtually to thousands at the annual Bitcoin conference in Nashville, Snowden’s advice was simple: “Cast your vote but don’t join a cult.”

Although he aimed to keep his talk apolitical, the subject naturally bled into his opening and closing remarks. Snowden expressed a measured view on the potential for political change through elections, likening it to a mere reshuffling of authority figures. “As far as the average worker is concerned, whether we’re talking about this election or any other in the last 20 years, a given election tends to result in what feels like a different uniform on the same cop,” he said. “And that’s a problem.”

The conference’s backdrop was heavily political, featuring prominent figures like former President Donald Trump as the main speaker on Saturday. On Friday, attendees heard from Sen. Bill Hagerty (R-TN) and former presidential candidate Vivek Ramaswamy, while Snowden’s talk was flanked by sessions with Sen. Cynthia Lummis, Sen. Tim Scott (R-SC), and independent presidential candidate Robert F. Kennedy Jr.

Snowden stressed the importance of collective action to prevent the erosion of freedoms. “We have to work together, and we have to make sure they do not reduce this country to the land of the fee and the home of the slave,” he said, urging unity in the fight for privacy and freedom.

A long-time privacy advocate, Snowden has consistently warned against the regulation of crypto-based privacy tools like Tornado Cash and has been a vocal critic of central bank digital currencies, seeing them as potential tools for government surveillance. A key point in his speech highlighted the increasing use of AI by governments to mine personal metadata, turning what was once an analyst’s job into an automated, instantaneously processed task.

Snowden believes that regardless of who wins the upcoming elections, the trend of leveraging AI for surveillance is unlikely to change. He argued it’s naïve to think AI isn’t already being used to profile personal spending habits. “We’re running out of time to fix this, and the consequences of ignoring it are a whole lot worse,” he said, warning that Bitcoin’s public ledger is a rich training ground for AI models focused on financial transactions.

He dismissed dystopian fantasies of AI-driven robot enforcers as distant possibilities but cautioned that the current reality of AI-driven surveillance is urgent enough. “This is not Terminator, right? This is not Skynet. This is not robots in the sky to drag you out of your home. That might come someday, but that’s a long way off.”

Snowden’s remarks echoed his longstanding concerns about privacy in the digital age. He urged the Bitcoin community to remain vigilant and proactive in safeguarding their privacy. His warnings about AI and surveillance underscored the need for a balanced approach to technology and governance, emphasizing that the future of personal freedom depends on our actions today.

As the conference continued, it was clear that Snowden’s message resonated with many attendees, reminding them that the promise of cryptocurrency goes beyond financial freedom—it’s also a battle for personal privacy and against unchecked government surveillance. His call to action was not just about choosing the right leaders but also about staying aware and united in the fight for a free and open society.

Ledger, the hardware wallet manufacturer, has introduced its latest innovation, the Ledger Flex wallet. This new addition builds on the design language and E Ink touchscreen interface of its predecessor, the Stax model. The Flex, priced at $249, sits just below the premium $399 Ledger Stax in Ledger’s lineup, offering a 2.8” E Ink capacitive touchscreen display with a resolution of 600 x 480 pixels. Unlike the Stax, it lacks the Tony Fadell-designed curved screen but comes in two distinct colorways: the classic black and silver, and a special orange BTC Edition variant.

Ledger CEO Pascal Gauthier emphasized the company’s goal of making self-custody more accessible to a broader audience, including both consumers and enterprises. Weighing in at 57.5g, the Flex is equipped with USB C, Bluetooth 5.2, and NFC connectivity, all housed in a sleek 78.40 mm × 56.50 mm × 7.70 mm frame. Its battery promises “weeks or even months on one charge,” ensuring long-lasting performance.

Central to the Flex’s design is the company’s Evaluation Assurance Level (EAL) 6 certified secure element. This secure element is pivotal, as it generates and stores the user’s private keys and powers Ledger’s secure screen. Ledger touts a unique approach to secure elements, incorporating a proprietary operating system called BOLOS, and Donjon, a team of white-hat hackers dedicated to identifying and fixing vulnerabilities in its hardware and software.

The launch of the Flex wallet is part of Ledger’s broader strategy to “secure a world that’s embracing AI.” A key component of this initiative is the “Proof of You” concept, which begins with the new Ledger Security Key app. This app enables users to create Two-Factor Authentication (2FA) and Passkeys using the open FIDO 2 specification directly on the device. Available for both Flex and Stax wallets, the app facilitates passwordless login to sites like Google, Amazon, and major crypto exchanges such as Binance and Coinbase. Users can either tap the device against their phone using NFC or plug it into a personal computer for seamless access.

Ledger has faced its share of security challenges in the past. In 2021, a breach exposed the personal details of nearly 300,000 Ledger users when an email database was hacked. Last year, a malicious version of the Ledger Connect Kit was identified by developers on Twitter, prompting the company to advise customers to stop interacting with decentralized applications (dapps) while a fix was implemented.

More controversially, in May 2023, Ledger came under scrutiny for its Ledger Recover service, an ID-based key recovery system that backs up users’ seed phrases. While the company reassured users that the service was opt-in, some critics argued that it could create a “backdoor” on devices, potentially compromising security. Ledger co-founder Nicolas Bacca defended the service, stating it was “not a backdoor at all, because nothing will happen without your consent on your device,” and emphasized that it did not increase the attack vectors on the hardware wallets.

The Ledger Flex supports the Recover service from launch, providing peace of mind for users concerned about losing their physical Secret Recovery Phrase backup. The company claims that “With Ledger Recover, you never have to worry about recovering access to your wallet, even if your physical Secret Recovery Phrase backup is lost or destroyed.”

Executives at Metaplanet and Semler Scientific are singing the praises of MicroStrategy’s Bitcoin playbook, crediting it for pulling their companies out of “zombie” status and revitalizing their stock performance. The influence of MicroStrategy’s chairman, Michael Saylor, was a key factor in their decision to pivot towards Bitcoin, a move that has had significant impacts on their companies’ financial health and market perceptions.

At the Bitcoin Conference in Nashville on July 25, Semler Scientific’s chairman, Eric Semsler, detailed how Saylor’s insights led to a major strategic shift. Semler acknowledged that his company was stuck in a rut, barely earning enough to keep operating and service debts, a classic case of a zombie company. Despite being cash-rich, their stock was underperforming, prompting them to reevaluate their approach. Inspired by Saylor’s advocacy for Bitcoin, Semler Scientific decided to integrate the cryptocurrency into their financial strategy. Since their first Bitcoin purchase on May 28, Semler Scientific’s share price has surged by 40%, even though the company is currently down 3.6% on its Bitcoin investment according to Bitcoin Treasuries.

Similarly, Metaplanet CEO Simon Gerovich recounted his firm’s turnaround. Once a struggling entity on the verge of insolvency, Metaplanet began to exhibit zombie-like traits. Gerovich undertook measures to stabilize the company, including cleaning up the balance sheet, reducing staff, and paying down debt. However, it was the realization that Bitcoin could bolster their balance sheet and hedge against the depreciating Japanese yen that marked a turning point. By embracing Bitcoin, Metaplanet aimed to secure what they saw as the apex monetary asset for their treasury. Since their first Bitcoin purchase on April 23, Metaplanet’s stock price has skyrocketed by an astonishing 980%.

The adoption of Bitcoin has not been without its challenges, particularly the extreme volatility associated with the cryptocurrency. Both Semler Scientific and Metaplanet have accepted this volatility as a new norm, viewing it as a source of opportunities rather than a deterrent. Semler noted the shift in their shareholder base and the heavy trading volumes, which he believes could lead to Semler Scientific’s stock being traded in the options market in the future. Gerovich, on the other hand, hopes the increased liquidity will eventually allow Metaplanet to offer a convert issuance.

The journeys of Semler Scientific and Metaplanet underscore the transformative potential of strategic Bitcoin adoption. Inspired by MicroStrategy’s playbook, both companies have managed to revitalize their financial health and market standing. While the path has not been without its hurdles, the substantial gains in their stock prices reflect the positive impact of integrating Bitcoin into their financial strategies.

Cutting-edge robotics are making waves at the 2024 Paris Olympics, with para-athlete Kevin Piette, who lost the use of his legs after a car accident 11 years ago, carrying the Olympic torch while wearing an exoskeleton designed by French engineering company Wandercraft.

Wandercraft, founded in 2012 and based in Paris, specializes in developing exoskeletons for both medical and personal use. Their flagship exoskeleton, Atalante X, is used in rehabilitation centers worldwide to help patients regain mobility. A Wandercraft spokesperson emphasized the complexity of developing self-balancing robotics and their mission to address this challenge by creating a device for people who cannot move their legs.

Although Piette did not qualify to compete in France, he was determined to participate in the Olympic ceremony. As the number 10 wheelchair tennis player in France, Piette’s dedication and spirit caught the attention of the Olympic Committee, who found him to be a fitting participant in the torch relay.

Wandercraft’s personal exoskeleton, currently in development, aims to provide users with full-day mobility. The goal is for users to wear the suit for a complete workday, allowing them to sit, stand, step side to side, and perform other motions. The prototype currently offers about four hours of battery life for these actions, but the ultimate objective is to extend this to a full day.

Long considered the stuff of science fiction, as depicted in movies like “Aliens,” “Elysium,” “Edge of Tomorrow,” and the “Iron Man” series, Wandercraft’s exoskeleton technology has become a reality through collaboration with the California Institute of Technology (CalTech). Professor Aaron Ames from CalTech, a key figure in this partnership, highlighted the positive health benefits of locomotion, even in a clinical setting. The exoskeletons operate based on algorithms programmed into the suit, responding to the wearer’s torso movements as a control mechanism. Ames described the torso as functioning like a joystick, with leaning movements dictating the direction of walking.

The exoskeletons also feature a conventional joystick for directional commands. Ames, a Professor of Mechanical and Civil Engineering Control and Dynamical Systems, has been instrumental in creating CalTech’s Robotic Assisted Mobility (RoAM) initiative in collaboration with Wandercraft. This initiative allows for the testing of new ideas and technologies on Wandercraft’s exoskeletons, pushing the boundaries of what is possible in robotic-assisted mobility.

While exoskeletons are expensive, new policies in the United States are making assistive technology more accessible. Medicare has issued a ruling to reimburse the cost of exoskeletons, providing financial assistance for those who need it. Earlier this week, Keontae Clark became the first person in the San Francisco Bay Area to receive an exoskeleton suit through her health insurance, with her exoskeleton costing $100,000.

The advancements in exoskeleton technology, exemplified by Kevin Piette’s participation in the Olympic torch relay, showcase the potential of robotics to transform lives. With continued innovation and collaboration, exoskeletons could become a common sight, offering new mobility solutions and improving the quality of life for many people around the world.