Education on technology

Sam Bankman-Fried is expected on Tuesday to enter a plea of not guilty to criminal charges that he cheated investors and looted billions of dollars at his now-bankrupt FTX cryptocurrency exchange, according to a source familiar with the matter. Bankman-Fried is accused of illegally using FTX customer deposits to support his Alameda Research hedge fund, buy real estate and make millions of dollars in political contributions. He is scheduled to appear at 2pm EST on Tuesday (12:30am IST on Wednesday) before US District Judge Lewis Kaplan in Manhattan to enter a plea. A lawyer for Bankman-Fried did not immediately reply to a request for comment. It is not unusual for criminal defendants to initially plead not guilty. Defendants are free to change their plea at a later date. Bankman-Fried has been free on $250 million (roughly Rs. 2,000 crore) bond following his extradition last month from the Bahamas, where he lived and where the exchange was based. Since his release, Bankman-Fried

The market for non-fungible tokens (NFTs), which went through a rocky momentum this year, is projected to explode in popularity in the upcoming year. More brands across industries will adopt NFTs as a way to entice, reward, and retain next-gen buyers to give them immersive experiences enveloped in metaverse experiences. Meta and Reddit are projected to drive the global products and discussions about the NFT and metaverse sectors — both of which witnessed downfalls this year. A new form of virtual interaction technology based on Web3 is being foresighted to emerge in 2023 that will intensify industrial rivalries and promotional activities around the world, said Rajagopal Menon, Vice President at WazirX crypto exchange . “Brands will try to outshine each other for visibility among the crypto native audience. Retail adoption of crypto, largely driven by their indirect exposure to virtual digital assets through brands they tend to engage with will also see a rise,” Menon added. In a r

BMW is set to foray into the blockchain technology, aiming to make its financial infrastructure more permanent and transparent in terms of maintaining records. The German luxury car maker has partnered with Coinweb, a layer-2 cross-chain computation platform, to execute smart contracts. Binance's BNB Chain has been handpicked by BMW to be the foundation for the initiative because of its low cost and fast transaction speed offerings. BMW has chosen its Thailand operations to execute the first phase of its blockchain transition. Interested purchases of BMW in Thailand will have to apply for a vehicle financing requirement on a platform that will be designed by Coinweb. This platform will essentially have buyers store their KYC details in an irreversible format and in accordance with the laws of Thailand, Coinweb said in an official announcement . “We foresee this shift of manual paperwork towards immutable records on the blockchain to immensely contribute to infallible efficienc