As cryptocurrency adoption gains steam on the African continent, it will be important for potential investors—and ultimately, regulators—to learn from the scams that have come before. Some high-profile examples of these scams include; back in 2019, Uganda’s Dunamiscoin Resources closed suddenly with $2.7 million in investor money. Dunamiscoin Resources had taken money from more than 4,000 people, promising them returns of 30% returns in 21 days by investing it in bitcoin. The returns never came. Kenya Another is Velox 10 Global, a pyramid scheme with roots in Brazil, in which Kenyans lost
Facial recognition company Clearview AI, popular for gathering images from the internet to create a global facial recognition database, has been fined more than £7.5 million by the UK’s privacy watchdog. The fine comes just months after a trio of senators called on federal agencies to stop using facial recognition technology built by Clearview AI. In letters signed by Sens. Edward Markey and Jeffrey Merkley, as well as House Reps Pramila Jayapal and Ayanna Presley, the technology was said to pose “unique threats” to Black communities, other communities of color,
Back in April 2021, João Gualberto, the district mayor of Mata de São João, held an in-person auction letting Brazilian technology companies bid for a contract to supply facial recognition technology for the public school system. The $162,000 tender was won by PontoiD, and in July that year, two public schools — João Pereira Vasconcelos and Celia Goulart de Freitas — began secretly rolling out the facial recognition system, without informing parents or students in advance, according to research by Rest Of World. Students were registered on the system, which
CarePoint, a Black-owned technology-driven healthcare startup that seeks to make healthcare accessible, has just raised a $10 million bridge round to accelerate its growth across Africa. How does it work? Patients are able to access care virtually through CarePoint’s MyCareMobile app, which links them to diverse services through teleconferencing, including consultations with their doctors, test results, and 24-hour emergency response. The funding round was led by TRB Advisors and brings the total funding raised by CarePoint to $30 million. It follows an $18 million Series A round announced in November last year.
Parfait, an AI and facial recognition-powered beauty technology focused on providing custom wig products to consumers, announced today a $5 million Seed round led by Upfront Ventures and Serena Ventures. Millions of Black women waste exorbitant amounts of money and time on difficult-to-install hair products that don’t properly fit or match their skin tone. While the market for manufactured hair wigs is expected to grow to $13.3 billion by 2026 according to Arizton, innovations to the products and services remain stagnant—until now. According to its founders, Parfait is uniquely suited to
Clark Atlanta has announced that it has been awarded nearly $12 million in grant funding to establish a “Knowledge Metaverse” hub. The Knowledge Metaverse, according to a school release, “amplifies access and engagement in learning by combining the real world with digital information and extended reality (XR) similar to immersive experiences that have become increasingly popular in arts, gaming, and entertainment.” The grant was supplied by EON Reality, described by the school as “the global leader in augmented and virtual reality learning solutions.” Clark Atlanta is the first HBCU to
Less than 1% of investment went to teams of Black entrepreneurs, according to the Extend Ventures report which also noted that across the 10-year period “a total of 10 female entrepreneurs of Black appearance received venture capital investment (0.02% of the total amount invested)… with none so far receiving late-stage funding”. Despite these odds, young Black women founders in the UK are helming businesses and driving innovation in areas as diverse as beauty, e-comm, and real estate, and total a total of 16 Black women have raised funding. Both inside
The accuracy of facial recognition has improved drastically since ‘deep learning’ techniques were introduced into the field about a decade ago but there’s still a long way to go. A few years ago – the world’s largest scientific computing society, the Association for Computing Machinery in New York City, urged a suspension of private and government use of facial-recognition technology, because of “clear bias based on ethnic, racial, gender, and other human characteristics”, which it said injured the rights of individuals in specific demographic groups. So this is clearly a big issue
People in the US city of New York are subject to “shocking” mass surveillance through facial recognition technology cameras, with the invasive technology especially trained on areas of the city with greater concentrations of non-white residents, new research by Amnesty International and partners has revealed today. The new analysis – published as part of a global Ban The Scan campaign – shows how the New York Police Department’s vast surveillance operation particularly affects people already targeted for stop-and-frisk across the city’s five boroughs. In the Bronx, Brooklyn, and Queens the research shows
Up to £23 million in government funding will create more AI and data conversion courses, helping young people from underrepresented groups including women, black people and people with disabilities join the UK’s world-leading Artificial Intelligence (AI) industry. Up to two thousand scholarships for master AI conversion courses, which enable graduates to do further study courses in the field even if their undergraduate course is not directly related, will create a new generation of experts in data science and AI. The UK has a long history in AI, from codebreaker Alan
