Picks & Shovels to Benefit from Tokenization , Cruise Robotaxi Accident, AI Vision
By @HooiTerrence
Chief Investment Strategist
The below is the opinion of the authors. Any conclusions are their own. This should not be considered as investment advice. Investing involves the risk of loss and returns are not guaranteed.
1. Cruise Robotaxi Accident
This week, San Francisco Police Department is investigating an incident from October 2 in which a woman was trapped under a Cruise autonomous vehicle after being struck by a human-driven car. Recent video footage reviewed by TechCrunch shows the robotaxi's abrupt braking leading to the collision with the pedestrian, who had been hit by the initial vehicle and thrown in front of the autonomous car. Despite Cruise's claim that the robotaxi braked aggressively to minimize the impact, the pedestrian ended up trapped beneath it, as confirmed by police and bystander videos. The video also captures the sequence of events, including the pedestrian being struck by the human-driven car and ending up in the lane where the Cruise robotaxi was positioned.
This incident is the latest in a series of issues plaguing Cruise's operations in San Francisco, including crashes and other incidents. While Cruise claims it wasn't at fault in the initial pedestrian collision, the investigation will determine if the autonomous vehicle could have avoided it. This comes at a critical time for Cruise as they aim to expand their robotaxi operations in San Francisco and other U.S. cities, having recently received approval from the California Public Utilities Commission to operate and charge for rides. However, a recent collision with an emergency response vehicle has led to a request to reduce Cruise's fleet size by 50% pending an investigation by the California Department of Motor Vehicles, which also regulates autonomous vehicles.
2. Bank of America Predicts Asset Tokenization could Surpass $15T
In a recent report, Bank of America made a bold prediction, foreseeing asset tokenization surpassing $16 trillion in the next 5-15 years.
This prediction is based on several key factors, including the prominence of Avalanche Subnets as a pivotal platform shaping the future of global value transfer. Unlike generic Layer 2 (L2) solutions, Subnets, often referred to as dApp (decentralized apps) chains, offer fine-tuned flexibility to cater to specific project requirements. Notably, dYdX is transitioning from Ethereum's ZK-L2 to a dedicated blockchain on the Cosmos ecosystem to enhance transaction throughput and minimize latency. Avalanche Subnets, with their advanced technology, provide lightning-fast, immutable transaction finality, boasting over 110,000 transactions per second, surpassing existing L2 solutions.
Additionally, Avalanche's customization in validator selection and security adaptability adds to its appeal. The Avalanche Vista program is committed to acquiring tokenized assets valued at up to $50 million, covering a broad spectrum of asset types.
Singular’s Take: While Avalanche may have faced a TVL decrease, its strategy focuses on bridging Real-World Assets (RWA) onto the blockchain, reinforcing its potential in the market.
3. AI Adds Vision
Recently, AI researchers are making strides in upgrading thermal imaging, a fundamental technology in night-vision systems, by incorporating artificial intelligence (AI). Traditional thermal imaging often results in fuzzy, two-tone images due to the lack of detail. However, a new system developed by a team at Purdue University pairs AI with thermal vision to produce clear and detailed images, even in complete darkness. While the technology is currently expensive and somewhat cumbersome, it holds promise for enhancing the navigation capabilities of self-driving vehicles.
Singular’s Take: This innovation enables the extraction of temperature, texture, and composition information from thermal camera data, addressing the issue of "ghosting" where heat obscures object details in conventional night-vision goggles.
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