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Category: economics – Page 152

Update: Building (and placing!) a Bitcoin ATM

A new section: Bitcoin ATM business model
has been added. Jump to “2019 Update”

The good news is that building a Bitcoin ATM is easy and less expensive than you might expect. But, offering or operating them engulfs the assembler in a regulatory minefield! It might just be worth sticking to selling bitcoin on PayPal (visit this website for more information on that). You might also wish to rethink your business model —especially user-demand. That’s the topic of our 2019 update at the bottom of this article.

A photo of various Bitcoin ATMs appears at the bottom of this article. My employer, Cryptocurrency Standards Association, shared start-up space at a New York incubator with the maker of a small, wall mounted ATM, like the models shown at top left.

What is Inside a Cryptocurrency ATM?

You could cobble together a Bitcoin ATM with just a cheap Android tablet, a camera, an internet connection, and [optional]: a secure cash drawer with a mechanism to count and dispense currency).* A receipt printer that can also generate a QR code is a nice touch, but you don’t really need one. You can use your screen for the coin transfer and email for a receipt.

Continue reading “Update: Building (and placing!) a Bitcoin ATM” | >

China’s tech sector faces ‘hangover after the party’, with trade war and economic slowdown hitting employment

Once a booming industry that offered dream jobs to China’s young talents, China’s tech sector is now waking up to the sobering reality. Experts say it is time to focus on profitability, rather than the wild expansion of previous years, as China’s economic growth slows and the trade war with the United States hits sentiment and investment.

Deep Aging Clocks: The Emergence of AI-Based Biomarkers of Aging and Longevity

First published in 2016, predictors of chronological and biological age developed using deep learning (DL) are rapidly gaining popularity in the aging research community.

These deep aging clocks can be used in a broad range of applications in the pharmaceutical industry, spanning target identification, drug discovery, data economics, and synthetic patient data generation. We provide here a brief overview of recent advances in this important subset, or perhaps superset, of aging clocks that have been developed using artificial intelligence (AI).

China’s Big AI Advantage: Humans

Seemingly “intelligent” devices like self-driving trucks aren’t actually all that intelligent. In order to avoid plowing into other cars or making illegal lane changes, they need a lot of help.

In China, that help is increasingly coming from rooms full of college students.

Li Zhenwei is a data labeler. His job, which didn’t even exist a few years ago, involves sitting at a computer, clicking frame-by-frame through endless hours of dashcam footage, and drawing lines over each photo to help the computer recognize lane markers.

“Every good-looking field has people working behind the scenes,” says Li. “I’d prefer to be an anonymous hero.”

Li, and many of his classmates at a local vocational school, are benefiting from the Chinese government’s push to move away from an economy based on heavy industry, and toward one focused on high tech.

Li doesn’t have a degree in computer science. So for him, this is a new opportunity to get a foot in the door of a booming tech industry.

Continue reading “China’s Big AI Advantage: Humans” | >

The Rejuvenation Market in Singapore

With its growing aging population, Singapore has a looming crisis, but could also be primed to become a major player in the rejuvenation biotechnology industry.

Singapore has one of the fastest-aging populations in the world. Senior citizens 65 years old or older are expected to make up almost half of Singapore’s population by 2050. Unfortunately, this swelling population is spending more time living with sickness, even though they live longer. While average lifespans have been extended, healthspans have not. [1] Singaporeans have an impressive average life expectancy of 84.8 years, but an average Singaporean born in 2017 is predicted to spend the last ten and a half years in sickness, compared to how a Singaporean born in 1999 is likely to spend only nine twilight years in deteriorating health.

This is becoming a massive concern for the Singaporean government because of the financial strain that this is imposing on Singapore’s budget. Having the world’s second-lowest birth rate coupled with a rapidly aging population means that the ratio of working adults to senior citizens is quickly shrinking. In 2007, there were 6.9 working adults for every senior citizen. By 2030, there will be 2.3 working adults per senior citizen.

In under a decade, Singapore’s healthcare budget more than doubled from S$4 billion in 2010 to S$10 billion in 2017. [2] Among the developed nations of the world, Singapore has a reputation for being one of the most fiscally conservative; there’s a socio-political stigma against the term “welfare state” in Singapore. Since its unprecedented independence in 1965, Singapore has had a general zeitgeist of “every man for himself,” as we are a nation with no natural resources. Our highly-educated workforce, along with our strategic geographical location, is the primary resource undergirding our knowledge-based economy.

The Biggest Offshore Wind Project in the US Is Underway

A new project announced last week will start helping close the gap, though. The New Jersey Board of Public Utilities (NJBPU) chose Ørsted of Denmark to build a 1.1 gigawatt wind farm off the coast of Atlantic City. Dubbed (somewhat un-originally) Ocean Wind, the farm will be the biggest of its kind in the US and is estimated to be done by 2024. For comparison, the only wind farm currently operating in the US, off the coast of Rhode Island, has a paltry 30-megawatt production capacity.

Ocean Wind’s 1.1 gigawatts of energy will be enough to power about 500,000 homes. The project is slated to create 15,000 new jobs and generate up to $1.2 billion in additional economic benefits.

As of May of this year, there were 15 proposals in the works for new offshore wind farms along the US east coast (and that doesn’t include projects in California, Hawaii, South Carolina, and New York).

the trouble comes when UBI is used as a way of merely making techno-capitalism more tolerable for…

So, if something is universal, doesn’t it mean that it will apply to everybody? If so, why are individual countries racing to experiment with UBI? (Sam Altman, chairman of Y Combinator and co-chairman of OpenAI, may be the exception to date but he is attempting that in a silo).

To truly address the root causes of exploitation and inequality, why isn’t the paradigm of ‘I win, you lose’ Nonsense surfaced? Is that because you are so preoccupied with surviving/getting ahead for yourself, you are not aware Business-as-usual is the water we swim in?

Most countries don’t even have a minimum wage but Silicon Valley technocrats like Bill Gate, Mark Zuckerberg, Elon Musk and others globally are universal basic income (UBI) advocates. To expedite the latest Business-as-usual gold rush, UBI could be an initial bait.

World Population Expected to Increase to 9.7 Billion in 2050, United Nations Reports

(UNITED NATIONS) — The world’s population is getting older and growing at a slower pace but is still expected to increase from 7.7 billion currently to 9.7 billion in 2050, the United Nations said Monday.

The U.N. Department of Economic and Social Affairs’ Population Division said in a new report that world population could reach its peak of nearly 11 billion around the end of the century.

But Population Division Director John Wilmoth cautioned that because 2100 is many decades away this outcome “is not certain, and in the end the peak could come earlier or later, at a lower or higher level of total population.”

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