Tag Archives: meta

Crypto, Cutting Edge, Tech

From metaverse to DAOs, a guide to 2021’s tech buzzwords

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  • From ‘metaverse’ to ‘NFT’ – here’s a wrap-up of the key buzzwords that shaped 2021 in the tech industry.
  • These subjects were the talk of the town in 2021, as the tech industry transitions into a new age.
  • A DAO tried to buy a rare copy of the U.S. Constitution, whilst NFTs took the art world by storm.

This year, tech CEOs drew inspiration from a 1990s sci-fi novel, Reddit investors’ lexicon seeped into the mainstream as “diamond hands” and “apes” shook Wall Street, and something called a DAO tried to buy a rare copy of the U.S. Constitution.

If you’re still drawing a blank as 2021 wraps up, here’s a short glossary:

Metaverse

The metaverse broadly refers to shared, immersive digital environments which people can move between and may access via virtual reality or augmented reality headsets or computer screens. read more

Some tech CEOs are betting it will be the successor to the mobile internet. The term was coined in the dystopian novel “Snow Crash” three decades ago. This year CEOs of tech companies from Microsoft to Match Group have discussed their roles in building the metaverse. In October, Facebook renamed itself Meta to reflect its new metaverse focus.

Web3

Web3 is used to describe a potential next phase of the internet: a decentralized internet run on the record-keeping technology blockchain.

This model, where users would have ownership stakes in platforms and applications, would differ from today’s internet, known as Web2, where a few major tech giants like Facebook and Alphabet’s Google control the platforms.

Social audio

Tech companies waxed lyrical this year about tools for live audio conversations, rushing to release features after the buzzy, once invite-only app Clubhouse saw an initial surge amid COVID-19 lockdowns. read more

NFT

Non-fungible tokens, which exploded in popularity this year, are a type of digital asset that exists on a blockchain, a record of transactions kept on networked computers. read more

In March, a work by American artist Beeple sold for nearly $70 million at Christie’s, the first ever sale by a major auction house of art that does not exist in physical form.

Decentralization 

Decentralizing, or the transfer of power and operations from central authorities like companies or governments to the hands of users, emerged as a key theme in the tech industry.

Such shifts could affect everything from how industries and markets are organized to functions like content moderation of platforms. Twitter, for example, is investing in a project to build a decentralized common standard for social networks, dubbed Bluesky. 

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DAO

A decentralized autonomous organization (DAO) is generally an internet community owned by its members and run on blockchain technology. DAOs use smart contracts, pieces of code that establish the group’s rules and automatically execute decisions.

In recent months, crowd-funded crypto-group ConstitutionDAO tried and failed to buy a rare copy of the U.S. Constitution in an auction held by Sotheby’s. 

Stonks

This deliberate misspelling of “stocks,” which originated with an internet meme, made headlines as online traders congregating in forums like Reddit’s WallStreetBets drove up stocks including GameStop and AMC. The lingo of these traders, calling themselves “apes” or praising the “diamond hands” who held positions during big market swings, became mainstream.

GameFi

GameFi is a broad term referring to the trend of gamers earning cryptocurrency through playing video games, where players can make money through mechanisms like getting financial tokens for winning battles in the popular game Axie Infinity.

Altcoin

The term covers all cryptocurrencies aside from Bitcoin, ranging from ethereum, which aims to be the backbone of a future financial system, to Dogecoin, a digital currency originally created as a joke and popularized by Tesla CEO Elon Musk.

FSD BETA

Tesla released a test version of its upgraded Full Self-Driving (FSD) software, a system of driving-assistance features – like automatically changing lanes and make turns – to the wider public this year.

The name of the much-scrutinized software has itself been contentious, with regulators and users saying it misrepresents its capabilities as it still requires driver attention.

Fabs

“Fabs,” short for a semiconductor fabrication plant, entered the mainstream lexicon this year as a shortage of chips from fabs were blamed for the global shortage of everything from cars to gadgets.

Net zero

A term, popularized this year thanks to the COP26 U.N. climate talks in Glasgow, for saying a country, company, or product does not contribute to global greenhouse gas emissions. That’s usually accomplished by cutting emissions, such as use of fossil fuels, and balancing any remaining emissions with efforts to soak up carbon, like planting trees. Critics say any emissions are unacceptable.

Originally published on World Economic Forum and republished under  Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License.

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AI, Business, News, Social Media, Tech

‘Pivotal Moment’ as Facebook Ditches ‘Dangerous’ Facial Recognition System

Above: Photo Collage / Lynxotic / Adobe Stock

Digital rights advocates on Tuesday welcomed Facebook’s announcement that it plans to jettison its facial recognition system, which critics contend is dangerous and often inaccurate technology abused by governments and corporations to violate people’s privacy and other rights.

“Corporate use of face surveillance is very dangerous to people’s privacy.”

Adam Schwartz, a senior staff attorney at the Electronic Frontier Foundation (EFF) who last month called facial recognition technology “a special menace to privacy, racial justice, free expression, and information security,” commended the new Facebook policy.

“Facebook getting out of the face recognition business is a pivotal moment in the growing national discomfort with this technology,” he said. “Corporate use of face surveillance is very dangerous to people’s privacy.”

The social networking giant first introduced facial recognition software in late 2010 as a feature to help users identify and “tag” friends without the need to comb through photos. The company subsequently amassed one of the world’s largest digital photo archives, which was largely compiled through the system. Facebook says over one billion of those photos will be deleted, although the company will keep DeepFace, the advanced algorithm that powers the facial recognition system.

In a blog post, Jerome Presenti, the vice president of artificial intelligence at Meta—the new name of Facebook’s parent company following a rebranding last week that was widely condemned as a ploy to distract from recent damning whistleblower revelations—described the policy change as “one of the largest shifts in facial recognition usage in the technology’s history.”

“The many specific instances where facial recognition can be helpful need to be weighed against growing concerns about the use of this technology as a whole,” he wrote.

The New York Times reports:

Facial recognition technology, which has advanced in accuracy and power in recent years, has increasingly been the focus of debate because of how it can be misused by governments, law enforcement, and companies. In China, authorities use the capabilities to track and control the Uighurs, a largely Muslim minority. In the United States, law enforcement has turned to the software to aid policing, leading to fears of overreach and mistaken arrests.

Concerns over actual and potential misuse of facial recognition systems have prompted bans on the technology in over a dozen U.S. locales, beginning with San Francisco in 2019 and subsequently proliferating from Portland, Maine to Portland, Oregon.

Caitlin Seeley George, campaign director at Fight for the Future, was among the online privacy campaigners who welcomed Facebook’s move. In a statement, she said that “facial recognition is one of the most dangerous and politically toxic technologies ever created. Even Facebook knows that.”

Seeley George continued:

From misidentifying Black and Brown people (which has already led to wrongful arrests) to making it impossible to move through our lives without being constantly surveilled, we cannot trust governments, law enforcement, or private companies with this kind of invasive surveillance.

“Even as algorithms improve, facial recognition will only be more dangerous,” she argued. “This technology will enable authoritarian governments to target and crack down on religious minorities and political dissent; it will automate the funneling of people into prisons without making us safer; it will create new tools for stalking, abuse, and identity theft.”

Seeley George says the “only logical action” for lawmakers and companies to take is banning facial recognition.

Amid applause for the company’s announcement, some critics took exception to Facebook’s retention of DeepFace, as well as its consideration of “potential future applications” for facial recognition technology.

Originally published on Common Dreams by BRETT WILKINS and republished under a Creative Commons license (CC BY-NC-ND 3.0)

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Apps, News, Observation, Social Media, Tech

‘Don’t Be Fooled’: Critics of Facebook Say Name Change Can’t Hide Company’s Harm

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“Changing their name doesn’t change reality: Facebook is destroying our democracy and is the world’s leading peddler of disinformation and hate.”

Tech ethicists and branding professionals on Thursday said consumers should not be hoodwinked by Facebook’s name change, which numerous observers compared to earlier efforts by tobacco and fossil fuel companies to distract attention from their societal harms.

“Don’t be fooled. Nothing changes here. This is just a publicity stunt hatched by Facebook’s PR department to deflect attention as Zuckerberg squirms.”

Facebook co-founder and CEO Mark Zuckerberg announced the Meta rechristening during Facebook Connect, the company’s annual virtual and augmented reality conference, explaining that “we are a company that builds technology to connect people and the metaverse is the next frontier, just like social networking was when we got started.”

“Some of you might be wondering why we’re doing this right now,” he added. “The answer is that I believe that we’re put on this Earth to create. I believe that technology can make our lives better.”

Many critics found Zuckerberg’s explanation unconvincing at best and, at worst, disingenuous.

“Changing their name doesn’t change reality: Facebook is destroying our democracy and is the world’s leading peddler of disinformation and hate,” the watchdog group Real Facebook Oversight Board said in a statement. “Their meaningless name change should not distract from the investigation, regulation, and real, independent oversight needed to hold Facebook accountable.”

Vahid Razavi, founder of the advocacy group Ethics in Tech, told Common Dreams: “Don’t be fooled. Nothing changes here. This is just a publicity stunt hatched by Facebook’s PR department to deflect attention as Zuckerberg squirms” over the negative press from recent whistleblower revelations.

Former Facebook employees-turned whistleblowers say the company’s profit-seeking algorithms—and its executives who know their insidious impacts—are responsible for the mass dissemination of harmful content, including hate speech and political, climate, and Covid-19 misinformation.

Siva Vaidhyanathan, a media studies professor at the University of Virginia and author of the book Antisocial Media, told Time that “the Facebook of today has never been the end game for Zuckerberg.” 

“He’s always wanted his company to be the operating system of our lives that can socially engineer how we live and what we know,” Vaidhyanathan continued, adding that the new name is “not going to change his vision for his company—he’s never let anybody on the outside change his mind.”

Zuckerberg, he said, “wants to take the dynamic of algorithmic guidance out of our phones and off of our computers and build that system into our lives and our consciousness, so our eyeglasses become our screens, and our hands become the mouse.”

Some observers compared Facebook’s attempt to rebrand itself to what they called similar efforts by Big Tobacco and fossil fuel corporations.

“It didn’t do anything,” Laurel Sutton, co-founder of the branding agency Catchword, told Time. “People still knew that Altria was Philip Morris and they didn’t rehabilitate their reputation simply because they changed the name.” 

“There’s no name that’s going to rehabilitate the behavior that they’ve displayed so far,” Sutton said of the social media giant. “Maybe put that time and energy into rehabilitating their morals and ethics and business decisions rather than just trying to slap a new name on something.”

Originally published on Creative Commons by BRETT WILKINS and republished under a Creative Commons License (CC BY-NC-ND 3.0)

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Apps, Branding, Breaking News, Business, Hot-Lynx, Tech

Bloomberg: Facebook Changes Name to Meta in Embrace of Virtual Reality

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Facebook Inc. has rebranded itself, now, as Meta, most likely as a means to separate the corporate identity of the social network that has been tied to a myriad of ugly controversies. The name change is meant to highlight the company’s shift to virtual reality and the metaverse.

CEO Zuckerberg spoke at the Facebook’s Connect virtual conference and commented on the name change, “From now on, we’re going to be metaverse-first, not Facebook-first.”

The new name change does not affect the company’s share data or corporate structure, however the company will start trading under the new ticker, MVRS starting December 1.

Needless to say, Twitter comments and memes instantly rolled in after the rebrand announcement:

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