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This is How the Internet Changed Dating Industry – ReadWrite

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Hamid Ganji


The Internet has dramatically changed the pattern of human interaction, socialization, and as well as dating. Different mobile apps revolutionize how we connect to our potential partners today, and you don’t necessarily have to attend family or friendly parties to find a partner.

This is How the Internet Changed Dating Industry

Over the past decade, dating apps have exploded in popularity, and we’ve allowed technology to play a role in our interpersonal interactions to find a lovemate. In the United States, two in five couples have met online, and marriages resulting from online dating are rising.

The dating services market size can reach USD 9.9 Billion by 2026, and this is due to the rise of technology and Internet expansion. Let’s see how the Internet has influenced the dating industry over the years.

The days before online dating

Can you remember the days before inventing dating websites and apps like match.com, Tinder, and Ashley Madison? If your parents belong to Generation X, ask them how they met each other. They probably met in the university, café, by a mutual friend, or at a party. These were common ways for people before Generation Z to meet.

Of course, these methods are still in use, and you still have the chance to find a lover in the university or a party. But most of the relationships today happen within online dating platforms, and there is a reason for that. This is a fact that without such platforms, many relationships today wouldn’t exist, and many of us would be drowning in loneliness.

It is the nature of online dating to connect people with common characteristics, regardless of geographical restrictions, race, and social class. In the days before the invention of dating platforms, such a thing seemed impossible, and even society rejected it. Now, you have the chance to find a potential lover by just scrolling in a mobile app.

The concept of global village revolutionized dating

When it comes to sharp social criticism, general movements, and ideologies, the Internet has played a critical role in moderating them and turning them into trivial issues. The Internet is neither that predatory devil nor that innocent angel. It comes with its pros and cons – just like anything human-made – and the user is responsible for any possible risks.

We’re living in the age of the Internet, and every aspect of our lives is associated with the global network, including dating. The dating and hook-up apps are now billion-dollar businesses on the Internet, and thousands of hours are spent on them every year.

The global village concept made dating and hook-up available to a wider range of communities and turned dating from a laborious process to as simple as creating an online profile.

From a psychological perspective, when something is available to a wider range of people in the community, it becomes faster and less difficult to accept, and opposition diminishes gradually. The flaws are less visible at this stage, and media and propaganda bombardment begin to entice more people.

This is the same prevailing theory about online dating and hook-up services. These services grew exponentially as the Internet grew, and the Internet helped them navigate from a monopoly to a public space, which means being available to everyone.

The Internet’s ultimate goal is to vanish the boundaries and make people connected, regardless of geographical restrictions, race, and ethnic background. Online dating is applying the same theory through a different shape. The Internet and dating have one goal in common and overlap with each other in some areas.

Dating has become like a game

Thanks to the Internet, finding a partner today has become more like a game than a time-consuming and tedious process. You just need to open the application and start scrolling between different profiles and pictures. You can read the descriptions and decide whether he or she can be a potential partner.

In a video game, you may be competing for first place and winning the title. There’s a similar case in online dating too. The users are trying to showcase their best to grab the attention and win a partner.

Just like the video games that only skilled people can win, in online dating, the winners are those who can be more adept at delivering an online version of themselves.

Another similarity between dating and a game is there’s no end for both of them. When a game is over, you can start it again. The stages aren’t changed, and you have to follow the same strategy to win. By the same token, when your meeting didn’t end up in a serious relationship, you can get back to the app and start searching for a new potential partner as you did before.

There are more options on the dating table

The fear of rejection is a serious problem for couples who want to meet. Probably if it was in the 70s or 80s, the person who got rejected might give up updating for a while and be overwhelmed by a lack of confidence.

But we’re living at the age of online dating, and rejection is not a disaster as it seems. When dating fails, the person can get back to the app – the same game – and start looking for a new partner. The ones who are using dating apps know that even if the dating fails, there will be an unlimited number of attempts.

Dating in the Internet age is like an infinite game and continues until the person can find a lovemate. The possibility of infinite attempts looks amazing, but there’s a big downgrade with that. Why should I put my energy and efforts to know someone deeply while there are many other people out there who might be a better choice? The same game theory.

In the case of limited items, people put more effort into getting to know each other, and the chances of building a long-term, lasting relationship are higher. While eliminating the fear of rejection is one of the biggest benefits of online dating, the availability of countless options has also reduced the chances of building a strong relationship.

Online dating helps shy people to socialize and connect

It is a fact that socializing is difficult for shy and introverted people. They who do not have enough courage to meet and talk to a potential partner on the street, in the park, or at work won’t find a better place than online dating apps to find a partner. The less connected people in the real world are more eloquent and persuasive behind their phones.

Meeting a person in the real world can be difficult and stressful for introverts, so they need to look for ones with shared values and characteristics. This way, they are meeting a person that understands them and is easier to connect with. Just check the profile thoroughly, read the description, and watch the pictures and videos to see whether he or she is a good fit.

Be cautious! online dating has its dangers

Internet dating comes with many benefits, but don’t forget about the dangers. You will meet someone you have never met before, and the possibility of any threat must be considered. Many cases of physical and emotional harm, sexual assault, theft, and intimidation are reported.

Every user on dating apps can be a potential prey for criminals. Men and women are equally exposed to such threats. One quick tip is never to meet someone in secluded places and out of town.

Image Credit: ekaterina bolovtsova, pexels; thank you!

Hamid Ganji

Hamid is a tech enthusiast, researcher, and savvy content marketer with a lot of passion for writing things that people love. He enjoys reading and writing about technology trends, AI, and new gadgets.

Politics

Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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Politics

UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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