Computable Economy Will Establish A New Economic Framework

Web3 serves as the cornerstone of a new economic structure. By tokenizing real-world assets (RWAs), we can move beyond obsolete systems and unleash significant wealth potential.

Throughout human history, each technological advance has opened up new wealth and opportunities, from the agricultural to the industrial and digital ages. However, every system has its constraints. The current digital economy faces challenges with sustainability and inclusivity. It's time for an upgrade.

Web3 has the potential to drive the next major advancement. Converting real-world assets, especially luxury items such as expensive jewellery, into digital tokens creates opportunities for a more inclusive and computational economy.

This change allows greater access to ultra-luxury markets and sets the stage for a more inclusive and measurable economy through novel ownership methods. The future is in this move towards coordination and tokenization.

Italy fines OpenAI $15M over data protection, privacy breaches

Italy's data protection authority imposed a 15 million euro ($15.7 million) fine on OpenAI and mandated the ChatGPT creator to initiate a six-month public awareness campaign following an investigation into the data collection practices of its leading AI model.

In a statement dated December 20, the Italian Data Protection Authority (IDPA), referred to as the Garante, revealed that its investigation discovered OpenAI failed to inform the agency of a data breach that occurred in March 2023.

The watchdog stated that OpenAI handled users' personal information to train its Chatbot without establishing a suitable legal foundation for this action, thereby breaching the principles of transparency and the associated information obligations to users.

The IDPA reported that its investigation revealed OpenAI lacked sufficient age verification measures to stop minors from accessing its services.

Jeju, Korea plans to introduce NFT tourist cards to attract more Gen Z travellers

Jeju Island in South Korea is said to be preparing to introduce non-fungible token (NFT) tourist cards to attract more visitors from the nation's younger demographic.

According to a report by the Maeil Business Newspaper on January 5, Jeju intends to introduce digital tourism cards paired with an NFT in the latter half of 2025, which will include various benefits.

The island aims to attract millennials and Generation Z—individuals born from the late 1980s to early 2010s—by introducing digital and NFT-based travel cards, thereby boosting the number of younger tourists returning.

The NFT-associated tourist cards, set for an initial trial before a planned full launch in the latter half of 2025, will provide travel subsidies and discounts at various tourist attractions across the island.