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Comment Re:credit union bank some random startup (Score 1) 53

Exactly, and N26 or Revolut are getting pretty big in Europe. They are app-only with literally no physical branches. (Revolut isn't quite a bank just a credit card though that's often enough, but N26 is a real one.) It turns out that banking can be quite simple, a breeze with a well-designed app, and completely remote.

Comment Re:Paper money is not going away (Score 1) 250

China *already* proved you wrong. Even the beggars in the streets wear alipay QR codes. For daily use, cash already effectively went away in China *right now*, not in the future. No reason this is not going to happen in the rest of the world, Africa might be next. No opinion when it will happen in the US in particular, but who cares.

Submission + - Why humans still have to enter data from documents manually

paskie writes: Data field capture from documents — think getting amounts and identifiers from invoices — ought to have been solved a long time ago. That’s what most people think, especially if they’ve never tried to actually do it! But when we take a closer look, we find out that in reality, humans are still manually entering data from these documents at a huge scale. That’s because in the traditional data capture systems (OCR), rules and templates need to cover every single variation in the document layout — which is absolutely untenable for documents with diverse formats, like invoices. Solutions exist, but they make sense only when processing huge volumes and they are still expensive and time-consuming to setup. This series of blog posts analyzes the traditional method of data capture, but also contrasts it with a dramatically different approach — imitating the human behavior when reading documents, because that’s exactly what the recent deep learning breakthroughs allow us to do.

Comment Re:Scaling to the real world? (Score 1) 272

Lightning Network (http://lightning.network/) will allow Bitcoin to scale. Maybe not to VISA-level yet, but at least further several order of magnitudes.

The lightning network allows to keep most transactions off-chain - for example all your daily payments can go through a LN operator, and the only thing that needs to be stored in the blockchain are channel balance settlements - say once per month you settle the balance with a single transaction. It recently left beta, with the protocol finalized and three interoperable implementations. Now, UX and client support is needed, and adoption by major Bitcoin operators. But that'll happen.

Bitcoin adoption just went a bit ahead of the software ecosystem, but don't discard Bitcoin because of that just yet.

Comment Siri is many things - many open source projects! (Score 2) 186

Siri is a complete stack of text reco engines, intent recognition tools, and backends. There are many initiatives like Sirius, Mycroft and YodaQA, and each does something slightly different - either focusing on the speech reco infrastructure, or just answering factoid questions...

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