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World First: how to own shares in a Picasso masterpiece

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A Swiss digital bank will offer customers the ability to buy tokens and shares in a Picasso painting

The art investment fund is offering shares in a Picasso masterpiece from 1964.

“Fillette au béret” is being sold or “tokenised” – via the blockchain.

Sygnum, the digital asset-focused Swiss bank organising the sale, says this is a world first.

ASTs will go on sale for a minimum subscription of 5,000 Swiss francs, Sygnum said.

The artwork measures 65 by 54 centimetres and is estimated to be valued at 4 million US dollars.

Investors will have the chance to buy and sell shares in the painting on a secondary market through blockchain technology.

Mat Cole from ACT Capital Partners says its the perfect use for blockchain.

So, do you physically own the artwork?

No. There will be no physical artwork to change hands.

Organisers say the painting, while being available for loan to museums and exhibitions, will be stored in a high-security facility

“This marks the first time the ownership rights in a Picasso, or any artwork, are being broadcast onto the public blockchain by a regulated bank,” it and co-organiser Artemundi, an art investment company, said.

“Tokenisation lowers the barriers to art investment and opens up the art market to a broad range of new investors,” Sygnum’s director general and co-founder Mathias Imbach said in the statement.

In the “Fillette au béret” sale, the tokens are fungible and no Picasso will be burned.

Is blockchain here to stay in the art world?

Mat Cole from ACT Capital Partners says it certainly is, to the extension of being an NFT.

“This is a collectible it is on the blockchain use of technologies here perfect. Is it a smart contract? It shows provenance. And it’s exactly what something like this should be if we’re looking at fractional ownership,” Cole told ticker.

Coles says there’s those two really interesting parts.

“One is a really great use of blockchain technology for something that we know has value for something that we know has scarcity,” Cole says.

Cole says there is a great use of the blockchain technology to bring it into what is the digital world or a modern environment, and actually provide a “really intelligent contracting solution and ownership solution for a really, highly desirable piece of an asset.”

However, he notes the second part is fractional ownership, by sort of crafting the use of the blockchain technology, and allowing people to have fractional ownership.

“I think that is a trend we’re starting to see more and more of, and I think that’s a real opportunity for blockchain technology. And I think it’s a real opportunity for wealth creation.”

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Airbus A320 fleet faces software upgrade due to risk

Airbus alerts A320 operators to urgent software fix after JetBlue incident raises safety concerns

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Airbus alerts A320 operators to urgent software fix after JetBlue incident raises safety concerns

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In Short:
– Airbus warns over half of A320 fleet needs software fixes due to potential data corruption risks.
– Affected airlines must complete upgrades before next flights, with operational disruptions anticipated during a busy travel season.

Airbus has issued a warning regarding its A320 fleet, indicating that over half of the active jets will require a software fix.

It follows a recent incident involving a JetBlue Airways aircraft, where “intense solar radiation” was found to potentially corrupt data crucial for flight control system operation.

The European plane manufacturer stated that around 6,500 jets may be affected. A regulation mandates that the software upgrade must occur before the next scheduled flight.

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Operational disruptions for both passengers and airlines are anticipated. The issue arose from an incident on October 30, where a JetBlue flight experienced a computer malfunction that resulted in an uncommanded descent. Fortunately, no injuries occurred, but the malfunction of an automated computer system was identified as a contributing factor.

Airlines, including American Airlines Group, have begun to implement the required upgrades.

The majority of affected jets can receive an uncomplicated software update, although around 1,000 older models will necessitate an actual hardware upgrade, requiring grounding during maintenance.

Hungarian airline Wizz Air has also initiated necessary maintenance for compliance, potentially affecting flights. This announcement has surfaced during a busy travel season in the US, with many facing delays due to other factors as well.

Regulatory Response

The European Union Aviation Safety Agency has mandated that A320 operators replace or modify specific elevator-aileron computers. The directive follows the JetBlue incident, where a malfunction led to a temporary loss of altitude.

Airbus’s fix applies to both the A320 and A320neo models, representing a vital response in ensuring aircraft safety.


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China blocks ByteDance from using Nvidia chips in new data centres

China blocks ByteDance from using Nvidia chips, tightening tech control and pushing for domestic AI innovation amid U.S. restrictions.

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China blocks ByteDance from using Nvidia chips, tightening tech control and pushing for domestic AI innovation amid U.S. restrictions.


Chinese regulators have moved to block ByteDance from deploying Nvidia chips in newly built data centres, tightening control over foreign technology used by major Chinese tech giants. The decision comes after ByteDance made substantial purchases of Nvidia hardware amid fears of shrinking supply from the United States.

Washington has already restricted the sale of advanced chips to China, allowing only weakened versions into the market. Beijing’s latest move reflects its push to reduce dependence on U.S. technology and accelerate home-grown AI innovation.

The ban places operational and financial pressure on ByteDance, which must now work around a growing pile of Nvidia chips it is no longer allowed to use. Domestic suppliers like Huawei are expected to step in as China intensifies its pursuit of tech self-reliance.
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OpenAI launches shopping research tool for ChatGPT users

OpenAI launches shopping research tool to enhance e-commerce experience ahead of holiday season spending boost

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OpenAI launches shopping research tool to enhance e-commerce experience ahead of holiday season spending boost

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In Short:
– OpenAI’s “shopping research” tool helps users find detailed shopping guides tailored to their preferences.
– Users can access Instant Checkout for purchases while ensuring user chats are not shared with retailers.
OpenAI has launched a new tool called “shopping research,” coinciding with an increase in consumer spending ahead of the holiday season.This tool is aimed at ChatGPT users seeking comprehensive shopping guides that detail top products, key differences, and the latest retailer information.

Users can customise their guides based on budget, features, and recipients. OpenAI notes that while the tool takes a few minutes to generate responses, users can still use ChatGPT for quicker queries like price checks.

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When users ask specific prompts, such as finding a quiet cordless stick vacuum or a gift for a niece who loves art, the shopping research tool will appear automatically. It can also be accessed via the menu.

Shopping Research

OpenAI has been expanding its e-commerce capabilities, with the introduction of the Instant Checkout feature in September, enabling purchases directly through ChatGPT.

Soon, users of the shopping research tool will also be able to use Instant Checkout for making purchases.

OpenAI assures that shopping research results are derived from publicly available retail websites and will not disclose user chats to retailers, although it does warn that inaccuracies may occur in product availability and pricing.

Shopping research is now available to OpenAI’s Free, Go, Plus, and Pro users logged into ChatGPT.


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