El Salvador’s president, Nayib Bukele, has enacted a law that eliminates all taxes on technology innovations, software and app programming, AI, computer, and communications hardware manufacturing. The law is expected to boost the country’s technology sector, generate more jobs for its population, and attract foreign investment.
Bukele Signs Law to Boost Technology Industry in El Salvador
The president of El Salvador, Nayib Bukele, announced Thursday on Twitter:
I’ve just signed into law the Innovation and Technology Manufacturing Incentives Act that eliminates all taxes (income, property, capital gains, and import tariffs) on technology innovations, software and app programming, AI, computer and communications hardware manufacturing.
Commenting on the new tax law, Salvadoran Minister of Economy MarΓa Luisa Hayem described: “El Salvador is ready to attract new investments in the technology sector, and thereby generate more jobs for our population.”
El Salvador’s director of the Central American Bank for Economic Integration (CABEI), Luis RodrΓguez, was quoted by Diario El Salvador as saying: “We welcome this commitment to the future of El Salvador, we are ready as CABEI to accompany this entire process.” CABEI is a regional entity established with the objective of promoting economic integration and balanced economic and social development in Central America.
Γrick ChacΓ³n, president of the Salvadoran Fintech Association expressed his excitement about the bill to the publication when it was still being discussed in the Legislative Assembly weeks ago. He said that the new tax incentives would allow the ecosystem to expand and that these are important steps to position El Salvador as a technology and innovation hub.
El Salvador’s new tax law is welcomed by many on social media. Venture capitalist Balaji Srinivasan commented on Twitter: “It’s not about first world and third world anymore. It’s about ascending world and descending world. And under @nayibbukele’s leadership, El Salvador has entered the ascending world.”
Dr. Rafael Fonseca, director for Innovation and Transformational Relationships at Mayo Clinic’s campus in Arizona, tweeted:
If you are not paying attention to what is going in El Salvador you should. The sound of business moving there will be loud.
In September 2011, El Salvador became the first country to make bitcoin legal tender alongside the U.S. dollar. Since then, the country has accumulated thousands of BTC and is regularly buying bitcoin for its Treasury.
What do you think about El Salvador’s Innovation and Technology Manufacturing Incentives Act? Let us know in the comments section below.
EntryImageUrl https://static.news.bitcoin.com/wp-content/uploads/2023/05/el-salvador-eliminates-taxes-768x432.jpg EntryTitle El Salvador Eliminates All Taxes on Technology Innovations, AI, App Programming FeedUrl https://news.bitcoin.com/ Blogger icon Blogger Create a post Action failed, 1:16 AM Error Applet failed May 04 - 11:16 PM RSS Feed Bitcoin News-GA4 Action failure message: There was a problem running the action. RSS Feed icon RSS Feed New feed item Trigger ran, 11:16 PM EntryUrl https://news.bitcoin.com/chatgpt-is-the-new-crypto-meta-says-malware-actors-exploit-ai-craze/ EntryPublished May 04, 2023 at 11:30PM FeedTitle Bitcoin News EntryAuthor Lubomir Tassev EntryContent
A growing number of malware creators are now taking advantage of the significant interest in Chatgpt to lure victims, Facebook owner Meta has noticed. According to its head of information security, the AI-based chatbot is “the new crypto” for bad actors and the social media giant is preparing for various abuses.
Malware Inspired by Chatgpt Is on the Rise, Facebook’s Parent Company Says
Meta, the corporation behind Facebook, has found that malware purveyors are now exploiting public interest in Chatgpt, Openai’s chatbot powered by artificial intelligence (AI), to entice users into downloading malicious apps and browser extensions.
The company has identified around 10 malware families and over 1,000 malicious links that have been promoted as tools featuring Chatgpt since March, according to a report quoted by Reuters. On Wednesday, its representatives likened the phenomenon to crypto-themed scams.
In some of the cases, the malware delivered working Chatgpt functionality alongside abusive files, Meta noted. At a press conference on the findings in the report, its Chief Information Security Officer Guy Rosen remarked that for the bad actors “Chatgpt is the new crypto.”
During the briefing on Wednesday, Rosen and other Meta executives also pointed out that Facebook’s parent company is preparing its defenses for a variety of potential abuses related to generative AI technologies like Chatgpt.
The rising popularity and rapid development of platforms like the Microsoft-funded chatbot have raised concerns among authorities around the world, including that such tools are likely to make online disinformation campaigns easier to propagate, Reuters noted.
Meta executives believe it’s still early for examples of generative AI being used in information operations, although Rosen commented that he expects some bad actors to employ such technologies to “try to speed up and perhaps scale up” their activities.
In a statement issued after their meeting in Japan at the end of April, digital ministers of the G7 countries agreed that their developed nations should adopt AI regulations that are “risk-based” while enabling the development of AI technologies.
In a recent interview, entrepreneur and investor Elon Musk accused Openai, the developer of Chatgpt which he helped found, of “training the AI to lie.” He also announced plans to create a rival to the offerings of tech giants which he called “Truthgpt.”
Do you think the trend of malware actors leveraging public interest in Chatgpt to lure victims will continue to grow? Share your thoughts on the subject in the comments section below.
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