Blockchain Industry Updates: Copyright Concerns in AI Training & SEC Delays ETF Decisions

Welcome to our latest blog post, where we’ll explore recent developments in the blockchain and technology industry. In this edition, we delve into the controversy surrounding the use of copyrighted material in training generative AI models and the Securities and Exchange Commission’s (SEC) decision to delay the approval of bitcoin and ether exchange-traded funds (ETFs). Let’s dive in!

1. Copyright Concerns in AI Training: The Controversy Unveiled
The departure of Ed Newton-Rex, head of audio at Stability AI, has shed light on the ongoing debate surrounding the use of copyrighted works in training generative AI models. Newton-Rex strongly opposes this practice, believing it to be in violation of copyright law and fair use principles. He emphasizes the potential competition between generative AI models and the copyrighted works they are trained on, expressing concerns about the long-term impact on creators. This contentious issue has become a central point of discussion within the technology industry.

2. SEC’s ETF Delays and the Prospects of a Bitcoin ETF
The SEC’s recent decision to delay the approval of Hashdex’s bitcoin futures ETF and Grayscale’s ether futures ETF has generated anticipation within the blockchain community. Although the SEC has rejected all previous proposals for a spot bitcoin ETF, applicants argue that concerns related to market manipulation and surveillance-sharing have been adequately addressed. Despite the delays, the price of bitcoin remains unaffected. Meanwhile, other companies, including Franklin Templeton, face upcoming deadlines, while further decisions have been pushed back to 2024.

3. Backup Funding Proposal in the Blockchain Community
Arbitrum, a leading virtual conference platform, has introduced a community proposal named ‘Backup Funding for Successful STIP Proposals’. This initiative aims to establish a reimbursement fund for ‘approved but unfunded proposals,’ seeking to raise the total budget by 21.4 million to 71.4 million. The proposal also outlines plans to support an additional 26 protocols, expanding the number of backed projects to 56. The allocation of DAO-owned ARB tokens will be determined through an established allocation system, consensus, and due diligence delegation.

As the blockchain industry continues to evolve, it grapples with critical issues such as copyright concerns in AI training and regulatory decisions around ETFs. The departure of Ed Newton-Rex and the SEC’s delay in approving ETFs highlight the need for thoughtful consideration of fair use and comprehensive regulations. Blockchain technology has the potential to revolutionize multiple sectors; therefore, it is crucial to strike a balance between innovation, copyright protection, and investor safety in this dynamic landscape. Stay tuned for more updates on the ever-evolving blockchain industry.

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