South Korea's central bank is stepping up its efforts in digitizing the economy, launching a new department dedicated to emerging technologies. The new department will focus on blockchain, artificial intelligence and other cutting-edge technologies. The Bank of Korea revealed recently that it will be launching the'Digital Innovations' department. As per a report by local outlet In The News, the department will not only implement new digital technologies, but also expand the existing digital infrastructure. The department will have a number of teams that will focus on various sectors, including data service and innovation, the report states.
Interpol concluded a partnership with a South Korean artificial intelligence startup aimed at tracking and combating cryptocurrency-related crimes on the darknet. The organisation will use a new data analysing engine to track illegal activity. The darknet has been a pain in the neck for the police and law enforcement agencies for years. Criminals steal people's confidential information and sell it for illegal purposes, at the same time making it nearly impossible to track or catch them. Despite the blockchain network is completely transparent and all transactions are traceable, it doesn't matter as long as the parties conducting the transaction remain anonymous.
Top nations like Germany, Singapore and South Korea have adopted AI and robotics into the healthcare sector. Korea is the leading nation for AI adoption followed by Singapore, China and Taiwan according to an ITIF report. Healthcare systems around the world, notably the UK's National Health Service, have already engaged the use of AI health assistant programs to modify the clinical process with the help of applications and programs to give their patients information as well as facilitate meetings with clinicians. An Indian software company Sigtuple, created an AI- based telepathology system that automates their smart microscopes to take pictures and upload on cloud. This allows efficiency among pathologists for their diagnosis.
Samsung is looking at investments in sixth-generation mobile networks, system semiconductors, blockchain and artificial intelligence technologies, Bloomberg recently reported. In the report, Samsung's Vice Chairman Jay Y. Lee noted that the company is facing challenges due to the global environment causing pressure on the company's profits. Executive Opinion Bloomberg quoted Jay Y. Lee of VC of Samsung Electronics, saying that, "We should challenge ourselves with a resolution to make new foundations, moving beyond the scope of protecting our past achievements." Samsung's Plans Bloomberg quoted an emailed statement by Samsung, where it was noted discussions among company leaders on collaboration with platform companies on 6G mobile networks, blockchain technologies and artificial intelligence. Maybe the rivals of the company (mainly Apple Inc. and Huawei Technologies Co.) led Lee in making this first ever public statement for 6G technology as these tech giants race to commercialize 5G network services, which launched in South Korea during the month of April.
Seoul Special Judicial Police Bureau for Public Safety arrested the CEOs and key players of a cryptocurrency pyramid scheme using the help of AI (Artificial Intelligence) last Thursday. The two main suspects known as Lee and Bae stole a total of 21.2 billion won ($18.3 million in US-Dollars) in a span of 6 months - 12 people were arrested in total. The South Korean police reported the CEOs of this company set up a "members only" shopping website and cryptocurrency exchange in May 2018. The site recruited members for an annual fee of 330,000 won ($288), or a "premium" membership fee of 990,000 won ($864). It also offered 10-year memberships with discounts on hotels, leisures, and on events like weddings and funerals.
The alleged criminals behind a Bitcoin Ponzi scheme which fleeced victims out of over 21.2 billion won ($18.7 million) have been arrested with assistance from artificial intelligence systems. Approximately 56,000 people were swindled, with a particular focus on the elderly and retirees, as reported by the Korea Joongang Daily on Monday. The scam was uncovered with the help of an AI algorithm which was taught the'language' of Ponzi schemes in order to hunt them down. These could include phrases related to recruitment and referral bonuses, risk factors, and statements related to guaranteed incomes. A section chief from the Seoul Special Judicial Police Bureau for Public Safety, Hong Nam-ki, told the publication that "the program can also identify advertisement patterns and identified the enterprise in question, which [was caught] with evidence provided by an unnamed informant."
SK Telecom and Deutsche Telekom will collaborate to create a new blockchain ID that will borderless, they said. SK Telecom and Deutsche Telekom will collaborate to create a blockchain ID with the aim to ease authentication processes, the companies have announced. The South Korean telco will sign an memorandum of understanding to that effect with its German counterpart's research arm, T-Labs, at the upcoming Mobile World Congress (MWC). The two will use blockchain technology to create a mobile digital ID that can be used for authentication, entry control, transactions, and contracts. The ultimately aim will be to make a "borderless" ID, much like a passport, that can used across different countries.