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. With , understanding how borrowing works is crucial for developers, architects, or researchers. Borrowing is a cornerstone of Ethereum-based blockchain applications billions in assets loaned out Much like the evolution of programming paradigms, these DeFi applications have diverse architectural designs, reflecting changing priorities that range from security to efficiency and user experience. This analysis looks at the architecture of applications like , , , , and . We'll highlight key innovations and design patterns, which are important lessons for the development of future lending applications. MakerDAO Compound Aave Euler Yield If you're a developer, architect, or security researcher, this article is for you. By the end, you'll easily understand new borrowing applications on Ethereum, grasping their architecture swiftly and comprehensively. Dive in to see how these DeFi giants are built from the ground up. Borrowing in DeFi Most DeFi borrowing is . A user can borrow a specific asset if they provide collateral worth more than the loan. Unlike conventional loans, many of these loans don't have regular repayments or fixed end dates. In essence, you can borrow and never repay. overcollateralized However, there is a catch. . The collateral's value must always exceed the loan value by a predetermined margin If the collateral value falls below this, the loan is . liquidated During liquidation, someone else repays part or all of your loan, and they receive part or all of your collateral in return. All borrowing applications following this financial structure need the same building blocks, which then can be arranged in many ways: A treasury to store user collateral and borrowed assets An accounting system that tracks each user's collateral and debt Functions that determine the borrowers' interest rate A mechanism to verify if a loan is sufficiently collateralized, usually involving external price oracles A liquidation path for undercollateralized loans Risk management systems that record total borrowed amounts and other safety metrics, such as global and per-user borrowing limits, collateral minimums, and specific over-collateralization ratios An interface for users to add and remove collateral, borrow, and repay underlying Borrowing and lending can be thought of as separate features. In DeFi, we find both features in most borrowing applications, . but they are not always well integrated . The interest rates for borrowers and lenders are internally correlated; in fact, that is what makes those applications work with minimal intervention. In Compound, Aave and Euler they are are originators of the assets they lend to borrowers. On the other hand, MakerDAO and Yield . They don’t require users to supply assets so that other users can borrow This article will focus on on-chain borrowing and largely ignore lending. Borrowing is much more complicated because of the collateralization requirement, and understanding the borrowing pattern typically unlocks a better understanding of the entire protocol. The Architectural Evolution of MakerDAO , ancient in Ethereum terms, and it holds . Despite its modular architecture with distinct contracts for every function and unique terminology, it remains easy to understand and verify. MakerDAO , was launched in its current form in November 2019 $4.95B in collateral The treasury function in MakerDAO is managed by the contracts. Join There is a for each token approved as a collateral asset. separate contract Contrarily, MakerDAO doesn't possess any DAI, the borrowing asset. Instead, it merely as required. mints and burns DAI Accounting is handled within the contract. The Joins when collateral enters or exits the system. If a user borrows, they . .sol vat update this contract interact with the vat.sol contract directly This action updates the user's debt balance and allows them to mint DAI at the DAI Join. . To repay, users burn DAI in the DAI Join. This process then updates the Vat, enabling the user to settle their loan Additionally, the contract serves as the engine. It maintains global borrowing limits, sets per-user minimum thresholds, and oversees collateralization ratios. vat.sol risk management When changes are made to a user’s debt or collateral balance, the vat.sol contract evaluates both rate and spot. These refer to the interest rate based on the collateral used and the prevailing DAI-to-collateral price ratio. Interestingly, these values are fed into the vat.sol contract by other MakerDAO contracts, a method distinct from most other applications. MakerDAO prioritized safety during its design phase - , user experience was a minor concern, and competition was negligible. a time when factors like gas costs were secondary Consequently, it might appear quirky, costly to use, and challenging to navigate. Yet, the vast assets it manages and its record of operation without significant breaches underline its robust design and execution. Highlights: Each asset has its own contract in the maximally spread treasury function The accounting function is centralized within a single contract that also documents and enforces risk parameters, including collateralization checks Unlike other apps, oracles update the contract, overseeing collateralization Price and interest rate oracles utilize distinct interfaces The interest rate originates externally To borrow, users must interact with multiple contracts The Architectural Evolution of Yield Protocol served as a proof of concept for fixed rates using . This version built its collateralized debt engine on top of MakerDAO. However, Yield v1 was both expensive to use and challenging to augment with new features. Yield v1 YieldSpace Recognizing the potential of YieldSpace, we quickly transitioned into developing . Still drawing inspiration from MakerDAO, but now completely independent, Yield v2 ; Yield v2 prioritized reduced gas costs and an enhanced user experience. Yield v2 launched in October 2021 All accounting, risk management, and collateralization checks were consolidated into one contract: the . Mirroring MakerDAO's approach, we distributed the treasury functions across contracts, each dedicated to a specific asset. Cauldron Join We revamped our oracle integration, merging price and interest rate oracles into a . We reversed the oracle flow from MakerDAO such that  Cauldron as needed for collateralization checks. To my knowledge, this is the preferred flow everywhere except MakerDAO. common interface consults oracles Another significant deviation from MakerDAO's approach was our introduction of the . This contract serves as the sole intermediary between users and Yield. It wields extensive control over treasury and accounting, . Ladle but in return, offers immense flexibility for feature development In summary, borrowing in Yield v2 works as follows: Each asset has its own dedicated treasury contract, ensuring maximum distribution of the treasury function. A singular contract centralizes the accounting function. This contract also oversees risk management measures and performs collateralization checks. The collateralization function consults oracles to determine prices and interest rates. Both price and interest rate oracles share a unified interface. Interest rates are generated externally. Users can borrow by making a single request to just one contract. The Architectural Evolution of Compound Finance The was a , demonstrating that a money market could be established on Ethereum. For this reason, simplicity was prioritized in its design. The contract encapsulates all functions, including lending. first version of Compound Proof-of-Concept MoneyMarket.sol The treasury, accounting, and risk management tasks, such as collateralization checks, are consolidated into one contract. This contract retrieves prices from the oracles but determines interest rates based on asset utilization. Users interact solely with this contract, though they must make separate calls to supply collateral and borrow assets. Compound v2 , igniting the yield farming era and inspiring countless forks. It too functioned as a money market, allowing users to both lend and borrow assets. Compound v2 was launched in May 2019 Based on its and structure, it's evident that a major goal for was to use the . This ensured composability, allowing users to lend to Compound and then use those interest-bearing positions in other blockchain applications. whitepaper Compound v2 ERC20 standard to represent lending positions Interestingly, the whitepaper didn't highlight that Compound v2 incorporated into its smart contracts. Given this omission, the immense impact of this feature might not have been foreseen. rewards Each asset has its own treasury contract, maximizing the distribution of the treasury function. The accounting function is also distributed, with each cToken noting user collateral and debt. A singular contract, the Comptroller, logs and enforces risk management parameters, including collateralization checks. The contract responsible for collateralization checks references the oracles for prices and the cToken for interest rates. The price and interest rate oracles operate with different interfaces. The interest rate derives internally from asset utilization. Users must interact with multiple contracts to borrow. Compound v3 , adopts a more conservative risk management strategy, segregating the liquidity into a for each borrowable asset. The design also reveals concerns about user-friendliness and gas costs. Released in 2022 Compound v3 pool The system is more intuitive for both developers and users due to the reduction in the number of required calls. Additionally, the singular contract design reduces gas costs by minimizing calls between contracts. The segregated money markets are a defense against oracle-based attacks, which are now a major security concern. Other relevant features mentioned in the include: release notes A completely revamped risk management and liquidation engine. This design enhances fund security while being more borrower-friendly. Set limits across the market for individual collateral assets to mitigate risks. The interest rate models for earning and borrowing are now separate, with governance having total control over economic policies. Interestingly, Compound v3 mirrors the architecture of Compound v1 by having a single contract handle all functions for each borrowable asset. Other notable features include: Only lent assets can be borrowed; collateral assets cannot. Collateral does not yield returns in Compound v3. The prohibition against borrowing collateral enhances the safety for those depositing the collateral. This decreases the likelihood that governance errors or intentional attacks jeopardize the collateral. Eliminating returns on supplied collateral might be a result of Compound managing to amass much liquidity in v2. I have the intuition that in Compound v2 the borrowing limits were either below or not much higher than the assets lent to the application by the users. Assuming they will manage similar levels of liquidity for v3, disallowing collateral to be lent out makes the application safe, one of the core goals of v3. From an architectural standpoint: Every money market is an individual contract with its treasury, accounting, and risk management Each money market retains the borrowable asset along with all its approved collateral asset tokens, causing assets to be dispersed across the application Price feeds are the sole external input; interest rates for borrowing and lending are generated internally Traditional functions like supply/withdraw/borrow/repay have been smartly consolidated. Now, withdrawing a borrowable asset from a money market implies borrowing, while supplying it indicates repayment or lending based on the user's debt A routing contract is integrated, permitting multiple operations in a single call The Architectural Evolution of Aave was , succeeding ETHLend. Instead of ETHLend's peer-to-peer approach, Aave v1 introduced a shared liquidity pool. Aave v1 launched in October 2019 As in Yield v2, the also held the business logic. The implemented accounting, risk management and treasury functions. Pooling the treasury in a single contract was a differentiating point from Compound v2. router contract LendingPoolCore The decision to leave the collateralization checks in , called from the router and not the accounting contract seems weak, but it was probably fit for purpose as Aave v2 was only released two years after the v1 release its own contract The LendingPoolCore contract handles treasury and accounting LendingPoolDataProvider manages collateralization checks and interacts with the oracle LendingPool serves as the user entry point and implements business logic Interest rates for borrowing and lending are determined internally, relying solely on price feeds Aave v2 was . While it retained features similar to Aave v1, it introduced an improved and simpler architecture compared to both Aave v1 and Compound v2. With this release, Aave also introduced (akin to Compound's cTokens) and , which represent tokenized debt. Aave v2 released in December 2021 aTokens vTokens Certain features from Aave v1, which had limited use, were omitted for simplicity. Issues in Aave v1, like the complex representation of accrued interest, were addressed in Aave v2. The LendingPool contract consolidates global accounting and risk management functions, such as collateralization checks. It serves as the primary access point for users aTokens signify collateral and are akin to lending positions. Users' collateral is reflected through their aToken holdings, and the treasury function is distributed across all aTokens vTokens are used to represent debt positions. A user's debt is represented by the vTokens they hold Aave v3 was with multi-chain support and other features. These additions don't alter the core architecture. The update also boasts improved risk management and gas efficiency. Aave v3 released in January 2023 Despite its many advancements, for the purposes of this study, Aave v3 is not materially different from Aave v2. In fact, it might suggest that the architecture of Aave v2 remains robust in 2023. The Architectural Evolution of Euler was , aiming to offer money markets with permissionless features and minimal governance. Euler launched in December 2022 A hallmark of its design is the pattern. A . This storage can be accessed through distinct , each managing a different conceptual element of the system. diamond-like single contract holds all the application's storage proxies Even though one contract stores all assets, accounting, and risk management data, there are still eTokens for collateral and lending, and dTokens for debt, similar to Aave v2. However, these token contracts are merely views of the central storage contract. The contract manages accounting variables. Storage The contract functions as the treasury. BaseLogic The contract oversees risk management variables and functions, including collateralization checks. RiskManager An analysis of the code reveals that minimal gas cost was a priority, leading to the monolithic design eliminating the need for inter-contract calls. Security was assured through rigorous testing and auditing. Only the logic was distributed across various modules, serving as the implementation for the storage contract, which acted primarily as a proxy contract. This unified design also supports easy upgrades. Modules can be swiftly replaced to amend or introduce features . if no storage changes are required Euler was hacked fifteen months after its release and six months after the upgrade introduced the exploited vulnerability. . I do not think the monolithic architecture played a part in the assets being drained; rather, it was insufficient oversight of code updates Conclusion Early Ethereum applications such as MakerDAO, Compound, and Aave showcased the potential of overcollateralized borrowing on Ethereum. Once these proofs of concept proved successful, the focus shifted to introducing a mix of new features to capture market share. Compound and Aave's later versions introduced yield farming, composability, and pooled liquidity, which thrived especially during bullish market conditions. A significant development was Compound v2's introduction of tokenized lending positions, which enabled these positions to be recognized as standard assets by other applications. Aave v2 and Euler took it a step further by implementing tokenized debt positions, the broader utility of which remains a subject of debate. High gas costs emerged as a major concern during the bull market, prompting user experience modifications as seen in Yield v2, Aave v2, and Euler. Router contracts and monolithic implementations helped reduce the costs users incurred for transactions. However, this came at the expense of more intricate, and consequently riskier, code. Compound v3 appears to set a precedent, prioritizing safety over financial efficiency. It deviates from the traditional liquidity pool model to better safeguard against potential hacks. The rise of L2 networks, where gas costs are becoming increasingly negligible, will likely shape the design of future collateralized borrowing applications. In this article, I've provided a comprehensive overview of the key collateralized borrowing applications on Ethereum. The approach I've employed to analyze each application can also be applied to grasp the intricacies of other collateralized borrowing applications swiftly. When developing a blockchain borrowing application, always consider the storage of assets, the placement of accounting records, and the methods for risk and collateral evaluation. As you work through these considerations, draw upon the history of previous applications and the insights from this overview to inform your decisions. Thank you for reading, and best of luck. Thanks to for reviewing and editing this article. Calnix The author is a co-Founder and Technical Lead at Yield Protocol.

Borrowing on Ethereum: Comparing Architecture Evolution of MakerDAO, Yield, Aave, Compound, & Euler

Préstamo en Ethereum: comparación de la evolución de la arquitectura de MakerDAO, Yield, Aave, Compound y Euler

Emprunter sur Ethereum : comparaison de l'évolution de l'architecture de MakerDAO, Yield, Aave, Compound et Euler

एथेरियम पर उधार लेना: मेकरडीएओ, यील्ड, एवे, कंपाउंड और यूलर के आर्किटेक्चर विकास की तुलना करना

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Empréstimo no Ethereum: Comparando a evolução da arquitetura de MakerDAO, Yield, Aave, Compound e Euler

Vay trên Ethereum: So sánh sự phát triển kiến trúc của MakerDAO, Yield, Aave, Hợp chất và Euler

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With the advent and adoption of no-code platforms, there is a rumor in the IT industry about the extinction of . Here, we evaluate the truth! DevOps DevOps is an IT development and operations approach emphasizing collaboration, automation, and integration between development and operations. Its importance lies in streamlining the software delivery process, enabling faster and more reliable releases of products. The approach fosters a culture of continuous improvement, agility, and responsiveness to customer needs. DevOps helps organizations develop higher-quality software and achieve greater customer satisfaction by automating manual tasks, reducing errors, and promoting collaboration. However, due to the recent innovations in the digital landscape, the future of the approach has somewhat become uncertain. Is DevOps Dying or Dead? The one-word answer is NO. DevOps is highly versatile, and with every passing day, it is evolving and improving. So, how did the conception of DevOps dying pop up in the first place? According to experts, many organizations tend to (simply) hire DevOps engineers rather than trying to understand its fundamental principles. In such cases, DevOps seems like something unrewarding. Mallory Haigh, the director of customer success at Humanities, explains that if something in DevOps goes extinct, it will be the ideology, not the methodology. DevOps is transitioning into its second phase, emphasizing engagement and enablement so companies can guarantee more robust infrastructures. To keep their KPIs (Key Performance Indicators) high, many companies combine platform engineering with DevOps approaches to develop reliable solutions. DevOps Vs. NoOps: Will the Latter Prevail? NoOps, short for "No Operations," is an emerging software development and operations concept. It represents a shift toward a fully automated, self-sufficient system with little or no human interference. In a NoOps environment, sophisticated platforms and tools manage and automate all tasks, from infrastructure provisioning to monitoring and scaling. The most common NoOps tools include Kubernetes, AWS Lambda, Terraform, etc. Although NoOps presents an intriguing vision of automation, it does not signify the end of DevOps. Instead, it represents an evolution within the DevOps ecosystem. Firstly, not all organizations are ready for NoOps. Transitioning to a NoOps model requires significant infrastructure and tooling investments. A survey in 2021 confirmed that around 85% of IT companies were employing DevOps techniques to achieve high business values. [1] Secondly, the complexity of modern applications and the need for real-time adaptability may still mandate human intervention. Therefore, DevOps principles (which emphasize collaboration between development and operations teams) remain vital in troubleshooting and handling unforeseen issues. Moreover, compliance with strict regulations is critical in highly regulated industries like finance and healthcare, which necessitates human intervention. DevOps incorporating security is known as DevSecOps and comprises of holistic approaches for application security and compliance. Many organizations are still running on legacy monolith apps that require human supervision because NoOps methodologies do not apply to all types of environments. Therefore, despite the emergence of this zero-maintenance approach, DevOps will continue to be superior as it enables working with people from all domains to develop quality products. Why DevOps Won’t Be Leaving the Stage Anytime Soon? Industrial Evidences Here are some reasons why DevOps will never cease to exist despite the appearance of no-code platforms. However, the methodologies may evolve according to industrial advancements. Stable Software Delivery DevOps ensures stable software delivery through continuous integration, automated tests, and incremental deployment. Collaboration among teams streamlines communication and eliminates errors. Infrastructure as code maintains consistency, and monitoring ensures an early detection of issues. The feedback loops ensure quick adjustments, enhancing stability over time. Next, security measures are integrated into the process to ensure safer deployments. Regular updates and improvements keep the software robust and adaptable. DevOps fosters a culture of responsibility, accountability, and shared ownership, promoting stability throughout the software development and delivery lifecycle. Secure Productions DevOps ensures secure production environments through a holistic approach called DevSecOps. It integrates security practices throughout the software development lifecycle. Security is not treated as an afterthought but is ingrained from the start. Automation tools scan code for vulnerabilities, while continuous monitoring detects and responds to security threats in real-time. Regular security audits and compliance checks are part of the process. Teams collaborate to prioritize security concerns, mitigating risks early. This proactive stance safeguards sensitive data and minimizes the potential impact of security breaches. DevSecOps ensures that security remains a shared responsibility and a core element of every production release, guaranteeing more resilient and secure systems. Fast Releases DevOps also guarantees fast releases by automating processes, enabling continuous integration and delivery. Automation decreases manual errors, accelerating the development process. Collaborative workflows facilitate efficient communication, and IaC allows for rapid provisioning and scaling of resources. There are monitoring and feedback loops to identify bottlenecks and issues early, ensuring quick resolutions. DevOps promotes a culture of efficiency, transparency, and accountability, pushing teams to prioritize speed while maintaining quality. By optimizing the entire software development pipeline, DevOps ensures rapid and reliable releases, meeting the demands of fast-paced development environments. Integration With Cloud and Modern-Day AI Systems DevOps integration with modern cloud and AI systems is highly beneficial. Cloud platforms offer scalable infrastructure, making it easier to implement DevOps practices. According to a report by Flexera, around 92% of the organizations have employed multi-cloud strategies and are using DevOps for optimized cloud utilization, scaling, and resource management. [2] AI augments DevOps by automating anomaly detection, predictive maintenance, and code analysis tasks, and its market size will grow by 38% from 2023 to 2032 [3]. The synergy boosts operational efficiency, accelerates software delivery, and enables more agile responses to changing business needs, making DevOps a vital asset in the cloud and AI technologies era. Efficient Automations DevOps ensures efficient automation through its core collaboration, integration, and delivery principles. By fostering seamless communication and cooperation between development and operations teams, DevOps accelerates the integration of automation into the software development lifecycle. This collaborative approach ensures automated processes are designed, tested, and deployed efficiently. Continuous integration practices, where code changes are frequently merged and tested, enable early detection of automation issues. Additionally, DevOps emphasizes the automation of repetitive tasks such as testing, deployment, and infrastructure provisioning, reducing manual errors, improving efficiency, and ultimately enhancing the quality and speed of software delivery. The Bottom Line DevOps is one of the most used methodologies in the IT industry, aiming to improve collaboration between the development and operation-handling teams. However, the no-code platforms popped up since DevOps application development approaches may prove difficult. These platforms are significantly easier to use but aren't as versatile as DevOps. Moreover, DevOps ensures more tailored outputs, faster releases, and wide learning opportunities, so it will continue to evolve and expand in the future rather than becoming obsolete. Statistics links [1] https://www.strongdm.com/blog/devops-statistics [2] . https://www.copado.com/blogs/how-using-a-multi-cloud-architecture-can-increase-agility-and-minimize-risk#:~:text=According to the Flexera 2021,have embraced multi-cloud strategies [3] . https://marketresearch.biz/report/generative-ai-in-devops-market/#:~:text=Global Generative AI in DevOps Market size is expected to,period from 2023 to 2032 Research links https://devops.com/why-devops-will-cease-to-exist/ https://www.techtarget.com/searchitoperations/feature/Is-DevOps-dead-What-the-future-of-DevOps-could-look-like https://www.knowledgehut.com/blog/devops/future-of-devops https://thechief.io/c/editorial/does-devops-have-a-future/ https://www.bunnyshell.com/blog/is-noops-the-end-of-devops/

Will DevOps Cease to Exist? My Honest Opinion 

Introduction Remember when Femtech was a brand-new term nobody knew? It feels like we have been using this word forever, but it has been around for less than a decade! Yet the history of products, technologies, and services addressing health issues specific or prevalent to women started long ago, ages before this umbrella term was first used in 2016 to address this rapidly evolving market. Since then, this industry has had major plot twists, from Maven Clinic becoming the first unicorn in 2021 to venture capital infusions shaking up the game; the sector is sizzling hot! Femtech And let us give a thumbs-up to the growing acceptance and issues. It is no longer a niche but a booming market, with its size estimated at over $55 billion in 2022 and . de-stigmatization of women’s health expected to surpass $100 billion by 2030 Why is it important to me? I am a digital tech specialist coming from the Artificial Intelligence/ Machine Learning field with a rich background in building and successfully deploying voice recognition, AI cameras, and virtual assistant products catering to millions. Lately, I have shifted my focus, stepping into the intriguing world of Femtech and healthcare drawn by the promise of AI to simplify and enhance healthcare solutions, changing stagnant approaches to women’s healthcare through daring initiatives. With this article providing a thoughtful inquiry into how advanced technologies like LLMs shape modern healthcare and Femtech, I invite you to join me on this exciting journey. Together, we will take a look at how boosts the Femtech market and sift through the new directions and strategies reshaping this burgeoning sector. Our aim will be not only to learn about the tendencies of the industry but also to identify key patterns that could offer thrilling opportunities. And so, if you are curious like me about how novel technologies improve healthcare experiences for women and what strategic footholds exist in the Femtech market, let us dive in and explore. AI/ML Current trends and thrilling developments in Femtech In the last few years, the Femtech sector has been undergoing a transformative shift. Gone are the days when Femtech products predominantly focused on menstrual cycle tracking and fertility planning. Today, the industry is blossoming with more specialized solutions, from advanced home-testing kits to cutting-edge wearables. Technological advances have attracted a range of strong players in a multitude of niche markets, each aiming to revolutionize different aspects of women’s health. 1. From Basic Tracking to Comprehensive Health Solutions Take Sonio, a Paris-based Femtech firm. They recently received FDA clearance for their AI product, Sonio Detect, which aims to redefine prenatal ultrasounds. What sets Sonio apart is its manufacturer-independent tool that simplifies the screening process while raising its efficiency and accuracy, offering an easy-to-use yet powerful solution. San Francisco startup Mira is pioneering another monumental shift in Femtech by embedding lab technology into a handheld fertility monitor. With a user base exceeding 76,000, Mira’s advanced fluorescent detector goes beyond traditional ovulation kits. The technology allows for daily health checks and has accumulated an impressive amount of data — over 8.5 million hormone data points and analysis of more than 670,000 menstrual cycles. With AI-driven insights into hormone fluctuations, Mira is offering more personalized and accurate predictions than ever before, quite literally putting a mini hormone lab in the palms of its users. Recently, The Inc. placed Mira at number 437 on its 2023 list of fastest-growing private companies in the US, ranking it the highest among Femtech companies. More complex products that require significant medical research are also quickly gaining momentum. Teal Health exemplifies this with its recent $8.8 million seed funding round, backed by prominent investors like Emerson Collective and Serena Ventures. The funds aim to build a comprehensive platform, starting with the crucial issue of cervical cancer. women’s telemedicine 2. The Rise of Wearable Innovations Wearable technology is another frontier where Femtech is making significant strides. One famous example is Bloomlife, a clinically validated diagnostic device for pregnant women that allows future mothers to track contractions, giving them a better awareness of their progress. Movano Health has captured attention with its Evie Ring — a wearable gadget currently under examination by the FDA. Upon receiving FDA clearance, the Evie Ring will have the potential to set new standards in women’s health monitoring, offering an integrated, round-the-clock health monitoring and tracking solution right at the user’s fingertips. Ava, a fertility and pregnancy tracking bracelet with an accuracy rate of over 90%, has already been cleared by the FDA. Established in 2014, well before we even started using the term ‘Femtech,’ Ava is a prime example of a successful Femtech startup. Having attracted over $42 million in funding, the company reported to have helped over 70 thousand women in 36 countries to get pregnant by 2020. 3. The Expansion to Different Age Groups One of the noteworthy trends in Femtech recently is the surge in startups focusing on menopause. According to Female Insights, over 30% of companies in this sector were founded in the last three years alone. This uptick is accompanied by increasing diversity in the types of solutions being offered to tackle menopausal symptoms — from mobile apps that track hormones and symptoms and platforms facilitating user interaction and community building to consumer goods and therapeutic medications. According to Pubmed, by 2030, up to 1.2 billion women will be in or approaching menopause globally, with 47 million new women joining every year. By 2025, it is estimated that over 1 billion people worldwide—about 12% of the population—will be going through menopause. Financially, the menopause product market was valued at $15 billion in 2020 and is projected to skyrocket to $23 billion by 2028. These figures illustrate a maturing market with significant financial potential, underscoring why it has become a magnet for innovation and investment. An Irish startup, IdentifyHer, offers menopausal women sensor solutions. Controlled through a smartphone app, the sensor passively gathers information on menopause symptoms without interfering with the wearer's daily activities. The app also makes use of the data gathered to track progress and assess the effectiveness of lifestyle changes. The collected data is presented in periodic reports and can be used by medical professionals to diagnose and treat menopausal symptoms. AI-driven Midday is another customized menopause product developed by US-based startup Lisa Health that offers comprehensive management of the menopause journey. Midday’s solution, including a wearable device, an AI-based symptom tracking system, and a decision support tool for hormone therapy, uses advanced tracking to determine the menopause stage and anticipate symptoms. The app is used by doctors to manage the entire menopause process and provide decision support, while users are provided with a variety of therapeutic options and informational resources to give them personalized insights and get them ready for every stage of menopause. 4. Going Beyond Just Health Although Femtech is considered, first of all, a rising star in the Medtech industry, the possibilities of women-oriented digital technology products are not limited to healthcare alone. Recently, the term started to see new applications, one of which is Women’s Safety. Indian startup Shakti Wearables manufactures Shakti, a women’s defensive wearable device that increases women's safety in dangerous situations. When the wearer activates the button on the device, a small, non-lethal current is released, electrifying an attacker, while the internal insulation of the bangle keeps the wearer safe; this gives women a chance to flee their attackers and call for assistance. Additionally, Shakti sends the wearer's most important three contacts a WhatsApp message with their most recent live location. Another interesting personal safety app is being developed by Australian startup Safely, offering women peer-to-peer support in tense or frightening circumstances. With their contacts, users of the app can create private groups or circles for internal communication and location sharing. In case of emergency, users can also switch on the high-alert mode and notify each of their designated guardians. The app then uses live monitoring, records live video and audio, sends GPS updates, and saves all of this data to the cloud for later use as evidence. Additionally, users receive safety alerts from locations of interest to help them plan their commute or travel safely. Expanding healthcare’s reach with new technologies The world of healthcare is rapidly evolving, especially when it comes to Femtech. This dynamic transformation is powered by modern innovative technologies that are reshaping how women engage with healthcare and how healthcare providers offer services tailored to them. 1. The Personalization Revolution Fueled by LLMs One of the most disruptive advancements in this domain is the rise of Large Language Models (LLMs) like ChatGPT and GPT-4. Far from being a mere tech fad, LLMs are revolutionizing healthcare, with Femtech embracing this new technology. LLMs have the potential to serve as virtual nursing assistants, supporting busy doctors in responding to patients' basic queries about medications or health conditions. As you will see from the examples below, LLMs are proving to be instrumental in facilitating the creation of highly promising Femtech products, from personalized consulting products to innovative community engagement tools. One of the most intriguing examples of the implementation of this technology in Femtech is Soula, a Cyprus-based startup that provides women with support during pregnancy, childbirth, and motherhood with its "AI-powered" assistant. Powered by Med-PaLM, an LLM developed by Google to generate answers to medical questions, the app is expected to be able to respond to inquiries about pregnancies and maternity issues and provide information on a range of health-related concerns. It will also be able to answer questions about diet, sleep, physical activity, and emotional self-care, as well as track fetal movement and kick frequency. Mexican startup Kuna utilizes an LLM-powered chatbot to give women a secure way to access information and advice on parenting and sexual health. The startup's , Kuna Chat, offers details on sex, reproduction, pregnancy, and parenthood. The startup also provides online consultations with experts for more complex or difficult questions. In this way, Kuna encourages sex education for the uneducated while offering trustworthy, practical, and concrete answers to users' queries. AI-powered chatbot 2. Cost-Effective Health Management An extraordinarily important aspect of building successful medical products is to make services affordable to the customer, reaching broader but less solvent user segments and geographies. In this vein, Femtech offers not only personalized but also cost-effective healthcare solutions. Apps often provide free basic versions, with premium services available through subscription fees. Quite obviously, the use of LLMs trained on medical data sets and specialized in specific product cases can provide a boost to the more affordable cost of the products themselves. For example, the Ava fertility bracelet mentioned in the previous section of this article costs around $249 in the U.S., and the accompanying app is free with the bracelet purchase. When considering that the average cost of infertility treatment in the U.S. is around $11,000—often not covered by basic healthcare plans—Femtech presents a more affordable starting point for many women. 3. Breaking Barriers in Remote and Rural Areas Digital technology in Femtech is also crucial for improving healthcare access in remote and rural areas, especially in low- or middle-income countries in Africa and Asia — two regions with the highest female populations. Femtech provides innovative solutions such as virtual prenatal visits and remote monitoring, to manage their health more cost-effectively, regardless of their location. empowering women One successful example of such a product is M♡THer – a virtual care product facilitating the diagnosis of gestational diabetes mellitus by measuring blood glucose levels, blood pressure, weight, and more. GDM affects up to 20% of pregnant women, leading to various birth complications, and M♡THer, developed by the Australia E-Health Research Centre, has already benefited thousands of women in remote areas of the region. 4. A Multifaceted Approach to Chronic Diseases Femtech is not solely about reproductive health; it also targets female-specific chronic diseases through a mix of prevention, societal change, and technology. Mobile apps and wearable devices make it easier to manage and monitor conditions over time, a vital component of tackling chronic diseases that affect women disproportionately. To name an example of a health issue specific to women, it is estimated that 1 in 10 women have endometriosis – the growth of endometrial tissue outside of the uterus that can cause significant problems from pelvic pain to infertility. DotLab, a US-based medical diagnostics company, pioneers medical tests in this area, applying machine learning mechanisms to diagnose and assess this currently incurable disease. On the other side of the Atlantic Ocean, Kheiron Medical Technologies, a UK Medtech startup, combines data science and radiology to help with the diagnosis of breast cancer, another terrible disease affecting predominantly women. According to published clinical trial results, the company’s breakthrough technology achieves previously unseen heights in malignancy detection in breast cancer screening. Applied Conclusions Recent years have shown rapid exponential growth in the number of Femtech companies and products, both through the use of innovative technologies and through the discovery of more and more new applications and solutions. With the Femtech market estimated to reach an imposing $100 billion globally by 2030, it is one of the areas of the modern technology economy that is expected to provide maximum lucrative opportunities for new bright ideas and prosperous businesses in the coming years. While deciding whether to follow this attractive route, aspiring Femtech entrepreneurs should consider the following market characteristics. While there are highly competitive niches in the Femtech market, specifically well-established fields like menstrual cycle and pregnancy tracking, there are also areas that are more attractive for entry. Examples of such areas include app-controlled wearables and menopause management. The largest share of the global women’s health market surprisingly pertains to chronic women’s health conditions (forecast to reach $218 billion by 2027), and only 1 percent of existing Femtech companies address this area. Did you hear that? That is an opportunity knocking. AI and specifically Large Language Models can be a powerful boost for Femtech products as (a) with proper customization, LLMs assist in scaling the product or service itself and strengthen the core part of the product, and (b) they provide magnificent tools for community development, and the community is said to be the most important part of a product! Organic communities built around products are both a way of monetization and a tool that increases retention, helping build durable community-led growth. Taking into account the fact that the Femtech market is rapidly developing with a simultaneous increase in competition, and given the general market conditions (in particular, subscription applications revenues are currently declining; even if positive dynamics have remained in the Medtech segment, it has become more difficult to attract and retain users), companies need to be cost-efficient and provide a highly personalized, secure service to survive and rise above the competitors. A relevant and extremely effective tool employed by more and more technology startups for achieving these goals, again, is AI technologies. Whether it's addressing questions about menstrual health, pregnancy, or chronic conditions, LLMs can fill the information gap quickly and efficiently. Statistically, only 6% of Femtech companies used AI in 2021, mostly in diagnostics and data analytics, and while this share has seen stable growth over the years, there is enough room for new inspired ideas and success stories in this area. All in all, the advent of heralds an exciting era for Femtech entrepreneurs. LLMs have the potential to revolutionize user engagement and content delivery, supporting busy healthcare professionals by handling preliminary patient communication, serving as virtual nursing assistants or health advisors, and simply bringing a personalized touch to technology. With cutting-edge AI technologies charging Femtech products, humanity has the chance to drastically improve the efficiency of the entire healthcare system catering to women. Finally, there is a chance to overcome the millennia-old barriers plaguing this area of medicine, such as high costs, gender bias, stigmatization of women's health-related topics, and a lack of resources. Large Language Models Powered by the latest technological advancements, Femtech waits for its next hero — and it may be you!

Beyond Wellness: How Femtech is Shaping the Future of Women's Healthcare

Más allá del bienestar: cómo Femtech está dando forma al futuro de la atención médica de las mujeres

Au-delà du bien-être : comment Femtech façonne l'avenir des soins de santé des femmes

कल्याण से परे: कैसे फेमटेक महिलाओं के स्वास्थ्य देखभाल के भविष्य को आकार दे रहा है

ウェルネスを超えて: フェムテックが女性のヘルスケアの未来をどのように形作るか

Além do bem-estar: como a Femtech está moldando o futuro da saúde feminina

Ngoài sức khỏe: Femtech đang định hình tương lai của ngành chăm sóc sức khỏe phụ nữ như thế nào

超越健康：Femtech 如何塑造女性医疗保健的未来

According to , the Global Knowledge Partnership on Migration and Development, remittances from migrants to their home communities—are projected to increase from US$791 billion in 2021 to US$840 billion by the end of 2023. This trend underscores the vital role remittances play in global finance, particularly for Low and Middle-Income Countries (LMICs), excluding China. KNOMAD Developing Economies Benefit the Most from Remittance In 2022, the countries for remittance inflow were: top five recipient India (US$111 billion), Mexico (US$61 billion), China (US$51 billion), Philippines (US$38 billion), and Pakistan (US$30 billion). While remittances are primarily private funds and not a substitute for public spending, they do benefit the economy by enabling recipients to actively participate in the consumer market. After all, when people spend these funds for domestic consumption, it serves as a significant boost to the national economy. The Traditional Remittance Landscape The World Bank calculates the received as a segment of a country's GDP, clearly establishing that personal remittances do, in fact, comprise a noteworthy portion of many nations' GDP. percentage share of personal remittances Albania sources more than 9% of its GDP from personal remittances, whereas, in Armenia’s case, the figure is more than 10%. In El Salvador, remittances constitute almost 27% of the country’s GDP, and for Georgia, it's nearly 17%. Given remittance’s role in uplifting the standards of living of a large segment of the global population, it must happen seamlessly. However, the traditional modes of remittances do not always ensure so. This is due to several key challenges, such as high transaction costs, low speed, limited access to financial services, and lack of transparency. Fixing these loopholes is crucial for the growth and efficiency of the global remittance market. High Transaction Fees In November 2022, the IMF revealing how high transaction costs in remittances negatively affect recipients. published a study As per the study, the global average of remittance transaction fees - as a share of a US$200 remittance - has been nearly US$7.5 worldwide. But in many Southern African countries, such as Angola, Botswana, and Namibia, the fees are 2.5 times the sample average, owing to high exchange rate margins. Apart from an existing imbalance, some countries witnessed a widening of the gap as well. Remittance transaction fees increased by more than 40 percent in countries like Gambia, Afghanistan, and the Kyrgyz Republic between 2016 and 2020. Overall, there is significant heterogeneity in remittance transaction fees globally, as many countries pay a lot more to receive funds from outside than the global average. Yet, high fees aren't the only challenge affecting remittance flows. Transaction Delays Delays in overseas fund transfers also pose challenges to those on the receiving end of remittances. However, factors contributing to these delays are often beyond the control of the beneficiaries. For example, banks have cut-off times for transactions, a factor further complicated by the varying public holidays observed in different regions. Moreover, the methods for sending funds can vary by country, with financial institutions requiring extra time for anti-fraud and anti-money laundering checks. What further exacerbates these delays is often a lack of clear information, introducing another layer of complexity: a lack of transparency. Lack of Transparency The World Bank that sending remittances is unnecessarily confusing, with several independent researchers backing the claim. acknowledged One such shows that 55% of American consumers understand the costs of sending money abroad, but only 18% can correctly identify exchange rates as one of those costs. Echoing this, the World Bank identifies a lack of transparency as the single most important factor leading to high remittance prices. The components of these prices are multifaceted, involving variables like upfront fees and FX margins. research Unbanked, Underbanked Population & Their Plight While transaction delays, high costs, and lack of transparency are mostly infrastructural pitfalls, a large chunk of the global population is bereft of the basic minimum access to banking. According to a World Bank published in July 2022, nearly 1.4 billion adults worldwide remain unbanked. Alarmingly, these adults are usually women, poorer, less educated, and live in rural areas. report Cryptocurrencies: A Potential Game-Changer From the outset, cryptocurrencies have been designed to achieve financial inclusion. They utilize blockchain-enabled smart contracts to facilitate peer-to-peer transactions with minimal need for intermediaries. This not only reduces transaction costs but also accelerates the process. Smart contracts further enable direct loan agreements between lenders and beneficiaries, while asset holders can efficiently invest their idle assets for returns. Collectively, these automated applications represent a transformative shift in the financial sector. Similarly, blockchain and cryptocurrency-based systems have democratically restructured financial transactions. By eliminating the need for centralized, cost-bearing authorities, they have made financial systems more decentralized, inclusive, and equitable. Decentralization Through Blockchain: Impact on the Remittance Market Blockchain-enabled, intermediary-free peer-to-peer transfers can significantly lower transaction costs. In fact, data shows that these crypto transactions can cost as little as 0.01% to 0.10% of the total amount, making them up to than traditional methods. 127 times cheaper To understand the greater economic ramifications, let us take the case of Kenya, for . example Kenya: A Case Study for Remittance Benefits In Kenya, where the average cost to send $200 is over 8.7%, remittances made up 3.5% of the GDP in 2021, totaling $3.7 billion. Lowering these costs to around 2% could have saved the country over US$200 million, equivalent to 0.22% of its GDP. But it's not just about economic savings - crypto remittances also offer significantly better speed. Moreover, since crypto transactions do not require banking institutions to mediate, they can spread to regions with very limited banking infrastructure. All one needs is access to a healthy internet system. This benefit is particularly relevant considering that global banking network distribution is not at all homogeneous. Against this backdrop of unequal banking access, low cost of remittance transactions, better speed, and improved accessibility & inclusion make cryptocurrencies a compelling solution. As a testament to its growing relevance in remittance, crypto adoption is visibly on the rise in many countries worldwide. Real-World Applications and Case Studies Latin America Remittance payments are fueling crypto adoption in Latin America, leading to a 40% surge in value, which reached $562 billion from July 2021 to June 2022. This adoption is further driven by regional economic factors, such as high inflation rates and weakening national currencies. In response, crypto users in the region are increasingly turning to stablecoins—cryptocurrencies pegged to the price of stable currencies like the USD—as a practical solution. Africa’s Growing Cryptocurrency Remittance Market Africa has significantly adopted cross-border blockchain remittance, driven in part by limited access to formal banking systems and poor financial inclusion. This has led to rapid growth in the cryptocurrency remittance market across the continent. Supporting this trend, the International Monetary Fund reports that Africa is one of the fastest-growing crypto markets globally, with transactions reaching US$20 billion per month in 2021. This growth is most evident in countries like Kenya, Nigeria, and South Africa, which boast the highest number of users among African nations. Crypto Remittance Scenario in Asia Pacific In the Pacific, has gained significant traction as a crypto-based solution in Australia. This success is not just anecdotal, as remittance has emerged as a vital use case in Australian digital asset markets, where Ripple's XRP often leads trading volumes on some of the country's top exchanges. Ripple remittance Shifting the focus to Asia, digital fund transfer services are also on the rise here. Strike, for instance, has partnered with a bunch of local businesses that connect Bitcoin’s Lightning Network to local banking services, including Pouch in the Philippines and GetBit in Vietnam. These collaborations underscore the growing fusion of traditional financial systems with cryptocurrencies across Asia. Crypto Remittance Using Blockchain at a Global Level: Challenges and Considerations While crypto remittance has successfully emerged as an alternative to traditional modes of international money transfer, it faces challenges, such as volatility, regulatory pressures, and the need for increased awareness, particularly in low and middle-income countries. Volatility Concerns In some countries like Venezuela, the national currency, such as the Bolivar, has proven even more volatile than Bitcoin. Here, the crypto-economy, with solutions such as stablecoins, has managed to offer far lower volatility levels. Yet volatility is a hurdle in most countries, as even the Bitcoin prices - the representative asset of the crypto-economy have been a topsy-turvy ride over the past year and more. Regulatory Pressure Regulatory pressures pose another significant barrier to adoption. For instance, around 20% of sub-Saharan African countries have banned crypto assets—countries that would, ironically, benefit the most from crypto remittance. Lack of Crypto Awareness Finally, crypto education is not yet up to the mark to encourage a significant segment of the global population to adopt digital assets as a means of international fund transfer. In fact, even among those who have adopted crypto, many are doubtful of its safety and reliability. The Future of Global Remittances In a realm where global remittances could surpass by 2023, cryptocurrencies are emerging as the technological marvel poised to reform conventional money transfers, particularly benefiting developing economies. This stands in sharp contrast to existing systems, which have been hamstrung by a plethora of challenges, including costly fees, sluggish transactions, and obscurity, not to mention the millions without access to basic financial services. $840 billion As blockchain-backed digital currencies promise to slash fees, expedite transactions, and enhance transparency, their real-world utility in remittance services is becoming evident in various regions, from Latin America and Africa to the Asia-Pacific. However, this positive trajectory comes with its own set of barriers like market volatility, regulatory constraints, and limited public familiarity. Despite these challenges, upcoming tech innovations are poised to further simplify and enhance crypto-based remittances, putting the market on track for substantial growth. This signals a tangible leap toward better efficiency, affordability, and financial inclusion globally, but one that will still necessitate a concerted effort among policymakers, regulators, and the crypto industry to overcome lingering obstacles. Also published . here

How Cryptocurrencies Transform the Global Remittance Landscape 

Data Drama: Navigating the Spark-Flink Dilemma 

As far as the investing landscape is concerned, the term ‘generative AI’ is shaping up to be the buzzword of the year for 2023. But with the prospect of a recession to end the year growing, could the boom prove to be resilient enough in the face of severe economic headwinds? generative AI With August bringing the news that major Chinese investment firm Zhongrong Trust missed payments to corporate investors, some market commentators feared a in 2008, which became a catalyst for the global financial crisis of that year. repeat of the infamous Lehman Brothers collapse Despite a difficult 2022 for Wall Street, the first half of 2023 brought cautious optimism back to the markets as the emergence of generative AI, buoyed by the resounding success of ChatGPT, inspired investors to buy into what appears to be a brand-new frontier for tech. The generative AI boom brought with it throughout tech-facing markets. The S&P climbed over 19% between March and July 2023, while the Nasdaq 100 grew by around 33% in the first half of the year alone. impressive rallies But with high inflation rates and the continued interest rate hikes from the Federal Reserve in a bid to control it, fears are growing that a recession in the coming months is inevitable. “Given that markets have risen sharply in recent months, this could trigger a sell-off in the S&P 500 and markets in general if recession expectations materialize, as investor positioning in stocks has increased amid growing expectations of Fed policy easing and AI developments,” warns Maxim Manturov, head of investment research at . Freedom Finance Europe “In the absence of preemptive Fed easing, it is logical to expect more challenging macroeconomic conditions for stocks should a recession occur.” Generative AI’s First Major Test Should a recession emerge, it will undoubtedly represent the biggest challenge that has faced since its impressive emergence. generative AI Today, commentators are split in terms of expectations for generative AI’s market impact. While Matt Bartolini, head of SPDR Americas research at State Street Global Advisors, acknowledges that there’s a lot of potential in AI, investors will need to choose their investments wisely to ensure sustainable returns. “The stocks we talk about with the AI craze are all going to be tech-related, and these large-cap companies are the ones infusing AI and a lot of their capabilities. AI is a very nebulous topic; a lot of people just want to think of it as ChatGPT, but it can also refer to the predictive text on your iPhone,” . Bartolini explains “If you’re looking to get into the , it’s really easy to get the theme call right but the stock call wrong. You buy a semiconductor stock because you think it’s gonna be a home run, but maybe the firm has an accounting issue. On average, stocks underperform by more than the sector average.” AI industry While it’s reasonable to expect that a recession could flush out weaker generative AI stocks by exposing their frailties, veteran trader Joe Terranova believes that it’s naive to assume that such a promising emerging technology will be vulnerable to the impact of a recession. "If the bulls are going to be defeated, you have to tell me how is it exactly you're going to break the fever that currently exists in mega-cap equities? Because every day it's saving the tape," in a recent CNBC interview. Terranova claimed "The script is in place. I've said I think Q3 could be a flat to negative quarter, but on the other side of that, you have the mega-cap put that's in place, and that's going to lead markets to resume the overall positive trend of 2023." Although it’s fair to assume that future economic downturns will bring periods of volatility for generative AI stocks, it’s also important to understand the transformative potential of generative AI. According to a recent Goldman Sachs report, generative AI could raise the within a decade–representing around a $7 trillion increase. annual global GDP by 7% With this in mind, there’s certainly room for investors to take on generative AI stocks as portfolio options; however, the most success may come in the form of long-term plays. Finding Long-Term Value in Generative AI The potential of generative AI is unignorable. It’s for this reason that investors are best off viewing their investments in the industry as long-term plays as opposed to recession-proof stock options. Given that the industry is still very much in its fledgling stages, it makes sense to look to more blue chip generative AI stocks rather than emerging companies that are yet to find their place in a market that’s likely to become more competitive over time. Many leading blue chip tech stocks exposed to generative AI today have proven in the past that they’re capable of overcoming recessions to ultimately reach new high levels of market capitalization, and these represent the best options for investors ahead of what may be a volatile period for the stock market. These stocks include: 1. NVIDIA (NASDAQ: NVDA) History shows us that Nvidia has not only gone from strength to strength in the wake of the 2008 financial crash, but the firm has performed exceptionally well already off the back of the generative AI boom. So far in 2023, Nvidia’s stock has grown more than 200%, and with the chipmaker’s rapid , it seems like a strong option for investors seeking to buy into a reliable firm to show in the face of a wider market downturn. adoption of more generative AI technology some long-term resilience 2. Microsoft (NASDAQ: MSFT) Not only is Microsoft one of the world’s largest tech companies, but it also has an impressive stake in the generative AI landscape. Having invested heavily in ChatGPT's parent company, OpenAI, Microsoft has big plans for the technology to ultimately challenge Google in the field of internet search and office productivity tools. Microsoft also recently introduced its ‘Copilot’ AI feature at a as a statement of intent. For investors seeking to invest in a strong and sustainable generative AI stock, there are few firms better positioned on Wall Street than Microsoft. cost of $30 per month 3. Amazon (NASDAQ: AMZN) It seems likely that Amazon’s Web Services (AWS) will grow to become a key player in the field of generative AI. While the stock performed exceptionally well in recovering from 2008’s financial crisis, the firm is yet to fully recover its value from the tech stock sell-offs of 2022. However, in across AI services, AI platforms, AI frameworks, and AI infrastructure, it appears certain that the company has identified generative AI as a focal point in the development of future innovations. adopting a number of business tools While there are no guarantees of success when it comes to recessions, these blue chip stocks have shown their resilience in the past and are among the leading adopters of generative AI. When headwinds strengthen, blue chip stocks are a solid investment option. With many of Wall Street’s biggest players seeking to ride the generative AI boom, they may prove to be the most resilient places to invest should a recession emerge.

Is the Generative AI Boom Strong Enough to Stand Strong in the Face of a Recession?

¿Es el auge de la IA generativa lo suficientemente fuerte como para mantenerse firme frente a una recesión?

Le boom de l’IA générative est-il suffisamment fort pour tenir bon face à une récession ?

क्या जनरेटिव एआई बूम इतना मजबूत है कि मंदी के दौर में भी मजबूती से खड़ा रह सके?

生成型 AI ブームは不況に直面しても十分に強いのでしょうか?

O boom generativo da IA é forte o suficiente para permanecer forte diante de uma recessão?

Sự bùng nổ AI sáng tạo có đủ mạnh để đứng vững khi đối mặt với suy thoái kinh tế không?

面对经济衰退，生成式人工智能的繁荣是否足以屹立不倒？

With more than gamers worldwide, the gaming industry does not need to validate itself anymore. But what’s interesting is how this sector has started to form an intersection with the crypto scene - Particularly NFTs and the Metaverse. 3 billion A recent shared by Yahoo Finance estimates that the blockchain gaming market will hit $104.5 billion by 2028, growing at a CAGR of 68.2%. report One of the factors that helped crypto gaming garner much traction in a short time was the fact that both crypto and gaming have the world as their audience. For instance, in 2022, the top five countries had a total mobile gaming app download volume of approximately .  This list included countries from Asia (China, India), North America (United States), South America (Brazil), and Europe (Russia). 56 billion Similarly, the digital asset industry has witnessed tremendous growth in recent years, spurred by the rise of (DeFi), NFT gaming, and ecosystems. Between 2021 and 2024, global spending on blockchain solutions could triple; from . Decentralized Finance Metaverse US$6.6 billion to 19 billion The Perfect Match: Crypto Takes Gaming to New Levels Crypto gaming is empowering users with options to earn NFTs by playing and winning a game. This is not a new phenomenon in games, as various sorts of in-game tokens have already existed in games. What’s new is that the tokens earned in games can now be seamlessly exchanged for , fiat, or other types of digital assets through centralized or decentralized exchanges. stablecoins Transitioning to the larger picture, Forbes references an estimate from Coinmarketcap that the global gaming token market is worth nearly . The multi-billion-dollar size indicates a healthy flow of gaming tokens, which reflects a strong economy developing around crypto gaming. US$13 billion Some top tokens in the list include the likes of ApeCoin (APE), Decentraland (MANA), and Sandbox (SAND). Global Tech Leaders Keen to Leverage Decentralized Gaming The untapped potential of decentralized gaming has made it lucrative for global tech leaders to leverage the space to its fullest. For instance, South Korea’s Wemade has raised from Microsoft, whereas Wemade is a popular game developer who has been aggressively developing blockchain games recently. US$46 million With all the recent developments, signals are clear. Blockchain gaming is set to have a thriving and engaging future. Play-to-Earn: The New Incentive for Gamers The merging of crypto and blockchain tech with the digital gaming paradigm - at large - has resulted in several interesting business models to incentivize gamers in a new way. The models present players with an opportunity to earn in-game rewards in the form of digital collectibles. In-Game NFTs Gamers can earn cryptocurrencies or NFTs by completing diverse in-game activity-based tasks such as looking for hidden treasures, battling other players, or completing missions. More importantly, they enjoy full ownership of these in-game rewards, such as virtual currencies, avatars, weapons, and more. And as these assets have real-world value, gamers can trade them for fiat money. Interoperability of In-Game Items In some crypto gaming platforms, the in-game items are interoperable. As such, players may bring in-game assets won from one blockchain game to another blockchain game or choose to sell them in open marketplaces. Transparency, Quantifiability, Programmability Moreover, because NFT games run on a blockchain, ownership is transparent and easily quantifiable. This transparency also extends to financial transactions, as the programmability of the NFTs helps platforms to earn their share on each transaction seamlessly. Decentralized Gaming Multiple opinion published in reputed industry have advocated for decentralization as the future of gaming. After all, several factors keep decentralized gaming at an advantageous position over Centralized gaming. pieces publications Segueing into the specifics, gamers are the exclusive and permanent owners of all in-game assets in decentralized gaming. In alignment with this, decentralized blockchain games, known for offering enhanced levels of security, transparency, and trust, also provide participants with increased freedom. The traditional gaming industry revolves around a few big players, like Nintendo and Ubisoft. The decentralized gaming space aims to open it up for all types and sizes of game developers and make the industry more democratic, equitable, and inclusive. Decentralized gaming is globally accessible for developers with its code and data present on blockchains. For players, decentralized gaming is empowering. It offers more choices. Players are more in control of how they want their game to play out. A decentralized gaming paradigm is set to redefine the gaming landscape and significantly improve the user experience. Enhanced Levels of User Experience Unlike traditional games, blockchain games could significantly elevate the in-game experience. After all, not only do blockchain games provide players with the liberty to join and leave games as they wish, similar to traditional games, but they also offer an added level of flexibility and personal asset control. These are elements unique to blockchain technology, offering a key differentiation. Given this potential for heightened player freedom and asset control, competition among platforms could intensify. This could result in better earning opportunities, an enhanced gaming experience, and an increased demand for experienced blockchain developers. It essentially presents a win-win scenario for both developers and players. Atari, a traditional leader in the world of gaming, launched Atari X in May 2022 for the same reason. Its decision was aimed at creating a blockchain ecosystem that seamlessly integrates community, gaming, and utility. Challenges and Opportunities While the intersection between gaming and crypto is nothing less than a launchpad for newer innovations to take off, there are challenges on the road too. Challenges Costly Entries Many crypto games working on the P2E model still pose a high barrier to entry, where players need to buy multiple NFTs from the platform to get started. Potential Breaches or Hacks There could be security risks if platforms are vulnerable and codes are not adequately secure. Consequently, players might end up sending tokens to unintended recipients and fall victim to scams or lose their assets during a breach or hack. One of the biggest hacks in the history of blockchain breaches is that of a gaming platform. It happened when US$625 million in and was stolen from the Ronin Network, affiliated to the Axie Infinity Blockchain gaming platform. Ethereum USDC stablecoin UX Issues User experience issues, common in emerging fields of virtual technology applications, could also arise. Platforms that lack user experience standards frequently suffer from poor engagement rates despite having robust branding pursuits to back them up. For instance, despite having a market capitalization of US$1.18 billion, from DappRadar’s report showed that the Ethereum-based metaverse platform Sandbox had only over 600 users in a day. data Intriguingly, Sandbox’s rival Decentraland had a mere 30 daily active users, according to one of the data aggregators. However, another source referenced figures from Decentraland’s Github Catalyst Monitor, indicating over 500 active users on the platform. Although the platforms refuted these claims, many experts cited unpleasant user experiences and inadequately capable interfaces as reasons behind such low engagement rates. Opportunities Inclusive Model for Growth Despite these drawbacks, the opportunities that crypto games present to us are enormous. The P2E model can open up new avenues for financial inclusion, where developers would directly benefit from their products, and players receive rewards for the time they spend gaming. Advantages of Building a Community Decentralized gaming platforms are excellent places to build a community that has its self-sustaining economy with funds flowing healthily between the developer and user communities. The Future of Gaming and Crypto The future of crypto gaming looks promising from multiple viewpoints.NFT gaming would expand further with a range of new styles and genres. Metaverse experiences will incorporate NFTs to reward their digital inhabitants. P2E gaming will consolidate further. New earning models would come into play. Newer avenues will open up to monetize and build on in-game assets. Since the community plays a significant role in crypto gaming, it will find its natural ally in social media platforms worldwide. There are games in the crypto world that also serve as hybrid social media platforms. Here, players can create innovative game characters and assets of their preferences. Reality Chain - for instance - has come up with a multi-chain social gaming metaverse on the Octopus Network. The players can ramp up their social and gaming lives through a solid combination of non-immersive, multiplayer 2D & 3D experiences. Technology-wise, AR and VR technologies would play a decisive role. Experiences will become better, more immersive, and more interactive. The incorporation of AR and VR is fast-growing in the gaming market. The realm of crypto gaming follows the trend. According to publicly available numbers, the global of AR & VR gaming will cross US$31 billion by the end of 2023. And by the end of 2027, the market will surpass US$52 billion. market size The presence of blockchain would make the gaming world more democratic, equitable, and inclusive. With this shift, power will stay in the hands of the users without having to compromise on transparency and trust. Although the degree of success will always vary with the levels of security and user experience the platforms would offer, it is true that crypto has already started revolutionizing gaming and will continue to do so with increased fervor and resilience. Also published here.

Crypto and Gaming Converge to Catalyze Innovative Economic Models

is constantly evolving, but its mechanics have remained fundamentally the same throughout the decades. However, the emergence of generative AI platforms, spearheaded by the success of ChatGPT, points to one of the most powerful complementary innovations to emerge for the likes of extended reality in a generation. Virtual and augmented reality technology Generative AI and reality technology have the potential to change the way we interact with both real and digital environments, all from our phone screens. When working in tandem, these technologies can build expansive and immersive worlds that can feel more realistic than ever before. The emergence of ChatGPT in recent months has brought generative firmly into the limelight, and already users are actively using the software to generate high volumes of rich content based on just a series of brief prompts. artificial intelligence But how exactly could a partnership between generative AI and extended reality technologies work? Let’s take a deeper look into a relationship that could bring revolutionary change to how we consume entertainment and stay productive online: How Generative AI Complements XR Firstly, let’s remind ourselves of what generative AI really is. ChatGPT may be the most popular iteration of generative AI today, but the technology has been growing rapidly in recent years. Generative AI allows users to rapidly generate content based on certain inputs. The content it’s capable of creating , images, sounds, animations, 3D models, and plenty of other forms of data. can include text The way works is through the use of neural networks to understand patterns and structures within existing data. It’s through these studies of existing content that programs can generate something entirely new. generative AI So what does this mean for extended reality? The implications can be massive for programs using reality technology–and particularly when it comes to use cases that involve sprawling digital environments. Generative AI could feasibly herald a new era for gaming where new levels are limitless in a literal sense. In more general use, VR users would no longer be confined to maps when experiencing virtual worlds because AI would learn and understand the existing environments within a program to generate entirely new environments using existing prompts. We’re already seeing use cases where generative AI is helping to enhance extended reality, with major firms adopting the technology to great effect. Constructing New Worlds While the emergence of generative AI has been punctuated by the generation of static artwork–which frequently appears to involve Pope Francis in – developers have also been using the technology to generate fully interactive virtual reality worlds. unlikely attire or scenarios In an approach known as , artificial intelligence has the power to create virtual reality worlds on the fly. Stable diffusion VR could bring great cost benefits to the video game industry, with far faster game development and far less computational power required to load expansive maps from the start. stable diffusion VR Popular video games like Minecraft already utilize to create new worlds in a random and unique manner for players to explore, while text-based game AI Dungeon has been developed almost entirely from an AI algorithm that creates new scenarios as a player progresses through the game. generative AI One key benefit of stable diffusion AI is that it has the potential to herald a new era of more personalized and customizable XR experiences for players. This could have great ramifications for creating bespoke difficulty levels for video games to ensure engagement remains as strong as possible. And, of course, continuous innovation within the internet industry and is only going to enable more . 5G opportunities for XR Empowering VR Creators Crucially, generative AI is also being utilized by platforms like Roblox is empowering more creators to , despite a lack of experience in 3D modeling. build their own in-game environments Roblox is attempting to ramp up its content creation services by augmenting its Roblox Studio. This will make it far more simple for creators to build more immersive experiences, with far more of the game’s players capable of becoming creators themselves. This move will aid creators in overcoming potential skill gaps to create fully functioning worlds with generative AI picking up the slack. Building into the Future of Reality with AI Naturally, there may be many concerns with the future of generative AI within reality technology. Should the future see the implementation of generative AI as a tool for creating new levels and environments for virtual reality worlds, the health implications for such prolonged exposure – particularly for younger players – could call for new guidelines on healthy playing time. However, as the question of the metaverse and its prospective implementation remains, it may be that generative AI plays a significant role in the technology’s eventual emergence. Not only could generative AI become a key , but it could even power and manage them to alter and evolve environments based on the trends and behavior of its users. Whether a program is prompted to maintain a VR world akin to Earth’s geological makeup and weather events or to build a terrain that’s subject to more wild and unlikely conditions over time, much is possible with generative AI at the wheel. building block for developing VR worlds Although reality technology has been maturing for some years now, the emergence of generative AI is likely to be a watershed moment in the development of the industry. In rendering entirely new environments and the features that populate them, XR and generative AI is likely to form a formidable partnership for the future of the industry.

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