Can #MintTheCoin solve the US economic crisis?

Financial News, Government, Health, North America, Politics, Social Issues, USA

In case you’ve been living under a rock this past year has been one of ‘strange and unprecedented’ times thanks to the ongoing COVID-19 crises that has taken over as a global pandemic. What initially started as a public health issue however quickly escalated in many parts of the world into an economic disaster that has seen national debts plummet drastically and rapidly as governments seek to fill the fiscal gaps left by the crises due to unemployment and various lockdown restrictions. 

The United States of America has become the epicentre of the virus outbreak since it was initially discovered in Wuhan, China back in late 2019 before starting to spread worldwide in early 2020. The USA currently has around just over a third of all worldwide cases of coronavirus and has been responsible for nearly a fifth of the total number of deaths attributed to the virus. 

As the economy has had to shut down in the various states of lockdown with knock on effects seeing unemployment soaring, there has been a surprising call for the national treasury to mint two $1Trillion Dollar coins. 

The idea for the two coins however is not new to the current crises, but actually a resurgence of a # that to #MintTheCoin that first emerged in 2013. The hashtag, which has its own website, is thanks to what some are calling a loophole in the existing laws surrounding the printing of money that allow the US Treasury to assign any amount to a platinum coin. 

The Federal Reserve would then buy the coins from the US Treasury and distribute $1,000 USD a month to US citizens via a preloaded credit card. The proposal is currently called the Automatic BOOST to Communities Act and is being presented by U.S. Representative for Michigan Rashida Tlaib.

Australia media bill close to a decision with Google and Facebook

Australia, Business, Communications, Countries, Digital Systems Technology, Government, Info Tech, North America, Politics, Regulation News, Social Media, Technology, Technology News, USA

Google and Facebook have been making headlines in Australia, as well as around the world, thanks to the media deal currently in discussion with the Australian government. The deal, which has been in the works since the end of 2021, would require big tech giants such as Google and Facebook to pay local media publishers and online outlets for their news content. 

If successful, the deal would set a precedent around the world for the future of online news. It has faced controversy and resistance from the Big Tech firms who say such rules would run counter to the free hyperlink principles the web was built upon. 

The deal has been dubbed the ‘news media bargaining code’ and first introduced into Australian parliament in December 2020. It would require the larger search engines such as Facebook and Google to pay smaller news outlets for their content or event to appear in search results. 

If the Big Tech firms are unable to come to a deal with smaller, local publishers, the Australian government is set to step in to decide the terms that could see current digital giants expelled from Australia’s online network. In lieu of a commercial deal, government officials would be instrumental in setting a price for such linking. 

Google currently holds an over 94% market share of all online searches in Australia and it is unclear what would replace it if it were to pull out of the Australian market. Facebook likewise has threatened to reduce services on its network and other platforms such as Instagram for Australian users if they feel the deal to be unfavourable to their business. 

This is not the first time the Australian government has gone up against Silicon Valley’s Big Tech firms. In 2018 there was a brief period Amazon restricted access to some of its products due to conflicts with local tax laws before a compromise was reached.

Tech billionaire Jack Ma emerges after months long disappearance with new video

Asia, Business, China, General, Government, Networking, Politics, Social Issues, Social Media, Technology

Tech billionaire Jack Ma has resurfaced online after an over three month long disappearance from the public sphere. Ma emerged again online in a short, roughly 50 second long video that saw him address a group of rural educators in an online conference on Wednesday 20th January 2021. The video was released on Twitter after the usually highly visible Ma had disappeared from the public sphere, and had even been replaced as a judge on a reality TV show he had been set to appear on. His period of time away from the public eye came in early November when stocks of his online retail service Alibaba were meant to go public in a deal that was suddenly halted by intervention from the Chinese government.  

The 56 year old Ma was born in 1964 in China. He rose to prominence with the growth of his online retail distribution site Alibaba, before developing a strong and recognisable personal brand as a TV personality, as well as being one of China’s most prominent philanthropists. Ma is known worldwide as an ambassador for Chinese business and an advocate for an open and market driven economy. He has however, been previously outed in 2018 as a member of the Communist Party of China (CPC), with which he continues to have a slightly tense and volatile relationship. 

Last November’s events only added to the tension between Ma and the CPC as he spoke out in criticism of the Chinese government’s interventions with his business. Though most recognised for his Alibaba brand, Ma is also known as co-founder of the Ant Group – the group responsible for Alipay, China’s largest digital payment. Alipay is widely used throughout China with over one billion users and 80 million merchants. It’s total trade figures for June 2020 reached a staggering 118 trillion Chinese Yen, making it unsurprising Ma is cited as one of the world’s richest people.

Pre-symptomatic data from smartwatches hailed as future virus protection

Artificial Intelligence, Big Data, General, Health, Politics, Software, Technology, Technology News

Smartwatches have been touted as a future way to identify COVID-19 patients before testing from pre-symptomatic data. Devices such as the Apple Watch and Fitbit smartwatches have been labelled as a potential future warning system for detecting if people have become infected by viruses such as COVID-19 – before even a test would. 

The digitised watches are essentially simply very small computers taking on the form of a watch. Simpler devices such as the Fitbit are closed system items that focus solely on collecting biometric data from their wearer. Apple Watches and other similar brands are more complex, often including phone data, updates on notifications and graphics for their users. 

Wearable smartwatches such as the Fitbit as well as other brands such as Garmin, gather biometrics information on their users which is then used to let them know if they are keeping up with their fitness goals. Information collected can include activities such as exercise measured from the number of steps you take, distance travelled and active minutes. Other data could be focused on how much sleep the user is getting and when they are entering specific sleep stages. Females are also able to record menstrual health data, whilst those interested in weight loss can keep track of their calories burned for the day. 

Smartwatches such as the Apple Watch and Fitbit have the benefit of measuring user data over long periods of time, making it possible for them to identify unusual inputs in the data such as temperature or heart rate, which could be suggestions of an infection. With pre-symptomatic identification of sick patients potential, it could be possible to isolate and prepare treatment for those infected prior to any testing result. 

With global numbers of newly infected cases and deaths from the coronavirus, hopes for ways into the new normal are well received on the global stage. Only time will tell if there can be a technological way forward out of the pandemic that could aid other further spread prevention measures such as vaccination.

Putin finally recognises Biden as US President

Countries, General, Government, Politics, USA

It’s been an election like no other in the US, where current President Donald Trump has been refusing to concede defeat. The disruption to traditional proceedings have caused conflict and controversy and made headlines around the world as Trump has refused to acknowledge his competitor Joe Biden as the US President Elect. Whilst Russia and the US have had a long contentious history, Putin has been one world leader refusing to recognise Biden in his new position – or at least until recently. 

In a statement made six weeks after the voting however, Putin has finally congratulated the forthcoming US president on his win. The Russian president’s words of welcome however were minimal and frosty to say the least as he announced: “For my part, I am ready for interaction and contact with you.”

The questionable behaviour from Russia’s president follows a tumultuous history with America’s celebrity president, who has famously denounced Russia often and even accused the country of interfering in the 2016 election. In an unusual respect for the democratic process, Putin had previously declared he would not acknowledge America’s new leader until all the votes had been counted and the Electoral College had formalised the win, or one candidate conceded defeat. 

The formal election of Joe Biden as the next President of the United States came on Monday 14th December 2020, when the Electoral College confirmed Biden had received the 270-votes he needed to win the White House. The result came after the state of California voted in Biden’s favour with its 55 electoral votes. 

“Putin wished the president-elect every success and expressed confidence that Russia and the United States, which have a special responsibility for global security and stability, could, despite their differences, really help to solve the many problems and challenges facing the world,” the Kremlin said.

Hope for 2021 as WHO secures 2 billion COVID-19 vaccine doses

General, Health, Politics, Science

It has been a long year for many around the world whose lives have been uprooted by the global coronavirus pandemic. In nearly every country there has been some form of national or local lockdown that has prevented loved ones from seeing each other, friends from embracing, and businesses from business as usual. In the West especially, where the pandemic has taken a strong hold as repeated lockdown measures have failed to quell the virus’ spread, hopes have been resting on the possibility of a vaccine instead to help life return back to ‘normal’. 

There has been good news for people in places like the UK and the US who have already seen the elderly and frontline health workers beginning to be vaccinated – just in time for the new year. The World Health Organisation (WHO) however, has made repeated warnings that the response to coronavirus needs to be a global one, describing how it will be impossible for any country to return fully back to ‘normal’ if the virus remains elsewhere in the world as a second contamination would always be possible. 
For those that have struggled and restrained themselves during the many months of lockdown this year, the thought of the pandemic stretching into 2021 is the least desirable option. Relief comes then with the news that the WHO has secured two billion doses of the vaccine, with plans to acquire more doses imminently, for low and middle income countries who would otherwise not be able to afford it. The project comes as a result of partnership with international vaccine relief project COVAX. The WHO has also been financially supporting the work to install fridges in developing countries in order to help with the vaccine distribution once it is ready. The need for fridges comes from the vaccine needing to be stored at low temperatures to ensure its effectiveness.

USA braces for impact of Thanksgiving travel on coronavirus death toll

Health, North America, Politics, Science, Social Issues, USA

The USA has come under much worldwide scrutiny for its response to the coronavirus pandemic crises. Whilst many other countries implemented strict lockdown measures or closed themselves to international travel, the USA’s unstructured crisis response has been indicated by many to be the reason for its current status as leader in the number of deaths so far. Worldwide the virus has seen nearly 1.5 million people die from its effects since numbers were first recorded by the World Health Organisation back in early March 2020. Since then the USA has accounted for over 250,000 of those deaths, with daily death toll numbers reaching over 2,000 a day in late November, figures similar to the first spike around May time as the second wave of the virus takes hold. 

The Thanksgiving effect 

Despite the continuing rise in the number of deaths it seems many Americans took the Thanksgiving holiday as an opportunity to travel this year. As a result experts, including the number one leading coronavirus USA expert Dr Anthony Fauci, have warned of the devastating effect this Thanksgiving holiday could have on increased number of cases – and subsequent deaths. Thanksgiving is a major holiday in the USA and one of the busiest weeks for travel each year. Some worries have been alleviated by Dr Fauci however as he has suggested that if travellers were to wear facemasks and maintain social distancing measures, the impact from the increased population movement could be restricted and kept under control. 

It has been highly recommended by Dr Fauci and other experts that anyone who has travelled during the Thanksgiving period self-quarantine at home for a minimum two week period. With Christmas fast approaching, it remains to be seen how the numbers will play out across North America, Europe and Australia as many refuse to see the jolly season ‘cancelled’ despite potentially fatal consequences.

All eyes on Shanghai International Art Fair

Asia, Business, China, Financial News

Whilst the majority of the Western world enters a much feared second lockdown due to the ongoing coronavirus pandemic crisis, all eyes were on China as the 2nd edition of the Shanghai International Art Fair took place from the 19-22nd November 2020. With many of the world’s top art fairs such as Art Basel Miami Beach fair set for December 2020 cancelled, and the Frieze London and Frieze Masters 2020 moved online back in October, there is not much of the supposed global art world left to see in person. It is with baited breath then that the world’s art lovers and professionals alike look to Asia for the last vestiges of familiarity with the fairs of the past, and a clue as to what the fairs of the future – and who attends them in person – could be like. 

Is a global art world still possible?

Whether it is even possible to describe a global art world is something that has been much in debate as the financial growth of various local art markets have grown and their interconnectedness made more apparent. Buyers and dealers will often travel multiple times a year and wait apprehensively for figures to come in from one fair for an understanding about what might happen in the next. This massive trading of art and services was valued in 2018 at roughly 67 billion USD – a growth of 3 billion USD up from 64 billion USD in 2017. Whilst the majority of these sales were made offline there was already a growing trend in the number of online sales seen that many are expecting to increase further due to circumstances dedicated by the current pandemic. 

The majority of trade for the art market has previously been seen in North America, with hot sites such as New York and Los Angeles, seconded by the market in Europe featuring heavily in London, UK, although the Louvre in Paris, France tops the list as the world’s most visited art museum. China had previously come in third for total revenue for an art market, yet as the coronavirus pandemic continues to hinder trade in the West, art fairs like the most recent Shanghai International Art Fair are starting to emerge as potential key components in the art market’s future global growth.

Instagram turns 10 years old!

Communications, General, Networking, North America, Social Media, Start Ups, Technology, Technology News, USA

As the widely used social networking site Instagram turns 10 this year, we take a look at where Instagram started and how it has gone on to become a dominating tech player in the social media market. 

Humble beginnings

Originally started by two Standford graduates, Kevin Systrom and Mike Krieger, it first launched in 2010 with an image posted of a dog and foot by Systrom. The dog in question was a stray in Mexico during a visit, and the featured foot was his girlfriends. Its grainy appearance hued by the dark edges of its filter epitomise what Instagram was for: finding a place for creativity in everyday life thanks to the rise of the mobile smartphone. Since then the founder has gone on to joke he might have ‘tried a little harder’ had he known that it would be the first photograph on the mega-popular social media giant that Instagram went on to become. 

Facebook buy-out

Instagram was barely a toddler and only 18 months old when it was acquired by Facebook in 2012 for an impressive price of $1 billion. The price tag was a talking point for many especially considering the young age of the company. For Instagram’s current 13 workers at the time, the news came as a relative surprise as their humble office migrated to Facebook’s famously large campus office site in California, USA. Facebook has since faced criticism for the acquisition and had to defend itself in the courts where it was accused of anti-competitive mergers and violation of trust laws amongst other tech giants, Google, Amazon and Apple.  

Turning the big 1 – 0 

Since its launch, Instagram has found a way into our daily lives – so much so that many agree they would be lost without it, and many others making their full income from the site. What started as a simple photo-sharing application has gone to become a site for commerce, activism, art, politics and more, with many people still engaging with the site’s primary mission to inspire creativity in its users.

Foreigners are flying to Australia while thousands of citizens remain stranded abroad

Australia, Business, General, Government, Main, Politics, Social Issues

Tens of thousands of Australian nationals are currently stuck overseas due to Covid-19 travel restrictions. Meanwhile, foreigners of a certain class are coming into Australia thanks to Canberra’s decision to grant travel exemptions to people with business innovation and investment visas.

To qualify for such a visa, a foreign national must be prepared to invest at least $800,000 in Australia. If they meet that requirement, they can enter the country the same way Australian citizens can—that is, by quarantining in a hotel for two weeks upon arrival. As the Australian Border Force explained,

“The business innovation and investment program targets migrants who have a demonstrated history of success or talent in innovation, investment and business, and are able to make a significant contribution to the national innovation system and the Australian economy.”

According to the Guardian, the ABF issued 485 business investment visas between March and September.

That’s not very many, and on its face it doesn’t seem like it would pose an issue for Australian citizens trying to get back home. But consider that travel restrictions stipulate that no more than 4000 people can arrive in Australia in a single week. As a result, most flights only contain a few dozen passengers. And as a result of that, airlines are jacking up the price of tickets to cover operational costs, while simultaneously catering to first-class travelers.

Testifying before a Senate inquiry, ABF head Michael Outram stated that roughly 25 percent of people traveling to Australia and quarantining in hotels are not citizens or permanent residents.

Opposition leader Penny Wong is now demanding that the Morrison government provide answers to stranded citizens and their families.

“There may be very legitimate reasons for some of these [non citizens] to enter the country, but these numbers show one person is being given the green light every day ahead of a stranded Australian who wants to come home,” Wong said, adding:

“Once again with Scott Morrison we see it’s one rule for a privileged few, while stranded Australians are left behind.”

I wouldn’t expect a candid response from Morrison and company any time soon.