Hello dear hustlers!
Welcome to the latest edition of our newsletter,
where we bring you the freshest insights, updates, and stories from the ever-evolving worlds of business, technology, and finance.
Buckle up as we dive into intriguing trends, uncover hidden gems, and provide you with the knowledge you need to stay ahead in the game.
CAUTIONARY ALERT: PAYPAL'S STABLECOIN RAISES CONCERNS 🚩
In a whirlwind turn of events, PayPal recently introduced its new stablecoin, PYUSD, triggering a wave of enthusiasm within the crypto community. The potential for a major corporation to launch a token seemed like a promising avenue for widespread adoption.
However, the initial excitement has given way to a more cautious sentiment. Today, scrutiny has revealed several red flags lurking within the stablecoin's code, painting a less rosy picture:
🚩 Outdated Solidity Version: The code is built on an antiquated version of Solidity, raising concerns about its compatibility and security.
🚩 Centralized Control: Disturbingly, the stablecoin grants its owner the power to freeze addresses, wipe funds, pause transfers, and even increase the total token supply at will.
🚩 Unsettling Parallels: Despite being termed a stablecoin, its characteristics appear more aligned with a Centralized Company Digital Currency (CCDC) than the decentralized ideals of true cryptocurrencies, striking a resemblance to Central Bank Digital Currencies (CBDC).
Curiously, it seems that PayPal's new token might possess more red flags than a map of an old pirate's hideaway.
The takeaway from this cautionary tale: Whether you or a dear one are considering the use of new tokens, it's imperative to thoroughly inspect the smart contract for any questionable functionalities.
A word to the wise: Prioritize vigilance as you navigate the crypto terrain, dear Roaders.
Stay informed and stay vigilant,
India's Innovative Leap: Using Crypto Tokens for Digital Signatures
India's Ministry of Electronics and Information Technology (MeitY) is exploring a groundbreaking idea - using crypto tokens to sign documents through a new web browser digitally. This move aims to boost secure transactions and digital interactions, aligning with the Web3 concept.
This is significant because India hasn't yet introduced laws for Web3 or cryptocurrencies. The central bank is against traditional cryptocurrencies but is interested in its own digital currency.
The new web browser will have its own trust store and advanced security features and support "Web3." The goal is to create a safer digital space for users.
The browser development challenge offers a prize of around $400,000 and is open for submissions until July 1, 2024. It's a step towards a more secure and advanced online experience in India.
Empowering ChatGPT Users: Custom Instructions for All
Exciting news for ChatGPT users! OpenAI is expanding the custom instructions feature to everyone, including free users. Previously available only to ChatGPT Plus subscribers, this enhancement lets you tailor how ChatGPT responds.
Custom instructions save time by allowing you to set preferences and requirements for the AI's responses. No need to rewrite prompts each time you interact. For instance, you can specify character limits or adjust the tone of replies.
Whether you're a teacher streamlining lesson plans or a developer seeking language preferences, custom instructions offer more control.
OpenAI's commitment to user feedback drives this update, ensuring the AI adapts effectively to various needs. Now, both free and Plus users, including iOS and Android users, can benefit. You can even use custom instructions with chat history turned off.
Stay tuned for a more personalized and efficient AI interaction, putting customization at your fingertips.
And that's a wrap for this edition of our newsletter.
I hope you've found inspiration and valuable information to fuel your journey. Remember, the pursuit of knowledge and growth never stops.
Until next time, keep hustling towards your goals and making your mark on the world.
Signing off,
Zain from Team Inspired Analyst
Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.