Lifeboat Foundation: Safeguarding Humanity
Toggle light / dark theme

Blog

Category: economics – Page 230

The leader of the payments business looks to the future and says Bitcoin is a good idea — but not yet actually a currency. Tap-to-pay, meanwhile, is a dud.

by
PayPal President David Marcus at LeWeb

PARIS — Online payments will look completely different in the next decade, and Bitcoin has a better chance at revolutionizing commerce than the NFC tap-to-pay technology, PayPal President David Marcus predicted Tuesday.

“I really like Bitcoin. I own bitcoins,” Marcus said at the LeWeb conference here. However, he believes people today don’t correctly understand what bitcoins actually are, and he’s not yet ready to let people link their bitcoin wallets with their PayPal accounts.

Read more

by
December 4, 2013

Vicco, Ky., is about as small town as it gets, with a population that hovers around 330 people. That does not appear to have kept its residents, namely Police Chief Tony Vaughn, in the dark when it comes to Internet trends and emerging crypto-currencies.

The city commission on Monday approved a measure that would allow Vaughn to receive his salary entirely in Bitcoin, an alleged first in the US and yet another story bolstering the reputation of the unregulated virtual currency as a payment method that will one day, supporters hope, stabilize and become commonplace.

Vaughn’s pay, still set in US dollars, will receive standard federal and state deductions, the Hazard Herald reports, before being converted into Bitcoin based on current trading values at the time of pay and deposited into an account held by Vicco. The Bitcoins will then be transferred to Vaughn’s personal account. The city expects to be able to pay Vaughn this way as early as this month.

Read more

By Rich McCormick on

http://cdn1.sbnation.com/entry_photo_images/9508155/bitcoin9_large_verge_medium_landscape.jpg

A single bitcoin is now worth over $1,000, but the process of mining for the digital currency — in which people devote computing power to facilitate global Bitcoin transactions and secure the currency’s network — is growing increasingly expensive. Serious miners have started to build dedicated facilities for the sole purpose of Bitcoin mining. Journalist Xiaogang Cao visited one such center in Hong Kong, the “secret mining facility” of ASICMINER, reportedly located in a Kwai Chung industrial building.

The mine is the size of a shipping container, and filled with 1-meter-high glass tanks in which banks of blades are immersed in roiling liquid. Each tank can hold 92 blades; the blades themselves are kept at a temperature of 37 degrees Celsius or below by “open bath immersion” technology. Open bath immersion cools computer components by submersing them in liquid with a particularly low boiling point. The heat the components generate mining for coins boils the liquid, causing it to turn gaseous, rise up to a condenser at the top of the tank, and fall once again, removing heat from the components in the process. The ASICMINER open bath immersion system was reportedly built by Hong Kong-based company Allied Control, and operates at a Power Usage Effectiveness of 1.02, which “would make it one of the most efficient designs in the world.”

Read more

BTC China, the nation’s largest Bitcoin exchange, has had low-level discussions with regulators seeking recognition of the digital currency that would allow it to be used to buy goods and services in the country.

The company has sought to discuss Bitcoin regulations with officials from agencies including the People’s Bank of China, the China Banking Regulatory Commission and the China Securities Regulatory Commission, BTC China Chief Executive Officer Bobby Lee said in a Nov. 29 interview in Shanghai. It’s not yet been able to arrange any high-level meetings, he said.

“They’ll ask us ‘how should you be regulated,’ and I’ll say ‘Hey, here’s what we’ve done proactively and here’s how we think you should regulate us,’” Lee said of the Shanghai-based company’s talks with regulators. Bitcoin is “not on the black list and it’s not on the white list. It’s in the gray area.”

Read more

EXCERPT

To further underpin this statement, I will share Peter Drucker’s quote, “…The greatest danger in times of turbulence is not the turbulence; it is to act with yesterday’s logic…” And also that of Dr. Stephen Covey, “…Again, yesterday holds tomorrow hostage .… Memory is past. It is finite. Vision is future. It is infinite. Vision is greater than history…” And that of Sir Francis Bacon, “… He that will not apply new remedies must expect new evils, for time is the greatest innovator …”

And that of London Business School Professor Gary Hamel, PhD., “…You cannot get to a new place with an old map…” And that of Alvin Toffler, “…The future always comes too fast and in the wrong order…”

View the entire presentation at http://lnkd.in/dP2PmCP

Supermanagement! by Mr. Andres Agostini (Excerpt)

DEEPEST

“…What distinguishes our age from every other is not the world-flattening impact of communications, not the economic ascendance of China and India, not the degradation of our climate, and not the resurgence of ancient religious animosities. Rather, it is a frantically accelerating pace of change…”

Read the entire piece at http://lnkd.in/bYP2nDC

By Avi Roy, University of Buckingham and Anders Sandberg, University of Oxford

Men who are unemployed for more than two years show signs of faster ageing in their DNA, according to a study published today in the journal PLOS ONE.

Researchers at the University of Oulu, Finland and Imperial College, London arrived at this conclusion by studying blood samples collected from 5,620 men and women born in Northern Finland in 1966. The researchers measured the lengths of telomeres in their white blood cells, and compared them with the participants’ employment history for the prior three years, and found that extended unemployment (more than 500 days in three years) was associated with shorter telomere length.

Telomeres are repetitive DNA sequences at the ends of chromosomes, which protect the chromosomes from degrading. With every cell division, it appears that these telomeres get shorter. And the result of each shortening is that these cells degrade and age.

When cells are grown in a lab, their telomeres do indeed shorten each time the cells divide. This process can be used to find a cell’s “expiry date”, a prediction of when that cell will run out of telomeres and stop dividing. However, this does not seem to relate to the actual health of the cells.

In the new study, the researchers found that that on average, men who had been unemployed for more than two of the preceding three years were more than twice as likely to have short telomeres compared to men who were continuously employed. In women, there was no association between unemployment status and telomere length.

The researchers accounted for telomere length differences resulting from medical conditions, obesity, socio-economic status and early childhood environment.

Previous studies, noted by the study authors, have found a correlation between shorter telomeres and higher rates of age-related diseases like Type 2 diabetes and heart disease. The authors conclude that the reduction in these men’s telomeres may have been the result from the stress of long-term unemployment, adding to evidence of a direct connection between prolonged unemployment and poor health.

An abstract concept

Employment is something very abstract; an employed and unemployed body are apparently more or less the same. So it might seem surprising that such an abstract thing as employment can affect a body on the cellular level. But the same is true for how stimuli affect our brains: remote objects trigger electrochemical cascades in our visual system – and when we learn new things, gene expression in the brain changes. We are interactive creatures, with innumerable stimuli that are constantly shaping multiple processes in our bodies. In this sense, the hypothesis that employment experience has cellular effects is not surprising.

This was an association study, which means than under certain set of circumstances two variables are statistically linked. This study is therefore incapable of genuinely predicting whether unemployment is the cause, and short telomeres the effect. Perhaps the opposite is true: maybe people whose cells lose their telomeres also lose their jobs. More likely, an outside factor that shortens telomeres could have a limiting effect on success in the labour market. For example, such a factor might somehow contribute towards illness or pessimism.

Additionally, because the study was conducted in an isolated and genetically quite homogeneous population, the results of the study may be due to their genetic make-up as well as (or instead of) environmental effects.

In the end, we do not need a genetic study to know long-term unemployment is bad for people socially, medically and psychologically; there is plenty of evidence for that. Additionally, the bio-gerontology community (those who study the biological processes of ageing) recognises telomere attrition as one of the nine causes of the disease of ageing, including Type 2 diabetes and cardiovascular diseases.

Where this study does make a significant contribution is in recognising long-term, low-level stress as a major problem. In momentarily stressful situations, the instant fight-or-flight response stimulates us; but being under pressure for a long time with no relief wears us down. Prolonged stress is bad for memory and health, and could quite conceivably shorten telomeres – making an unemployed person significantly more unhealthy, with the effects persisting even after they get a job.

In the long run, what we really need to learn to slow or stop the ageing process is how to reduce or repair the damage done by stress.

The authors do not work for, consult to, own shares in or receive funding from any company or organisation that would benefit from this article. They also have no relevant affiliations.

This article was originally published at The Conversation.
Read the original article.

(Excerpt)

Beyond the managerial challenges (downside risks) presented by the exponential technologies as it is understood in the Technological Singularity and its inherent futuristic forces impacting the present and the future now, there are also some grave global risks that many forms of management have to tackle with immediately.

These grave global risks have nothing to do with advanced science or technology. Many of these hazards stem from nature and some are, as well, man made.

For instance, these grave global risks ─ embodying the Disruptional Singularity ─ are geological, climatological, political, geopolitical, demographic, social, economic, financial, legal and environmental, among others. The Disruptional Singularity’s major risks are gravely threatening us right now, not later.

Read the full document at http://lnkd.in/bYP2nDC

The Future of Scientific Management, Today! (Excerpt)

Transformative and Integrative Risk Management
Andres Agostini was asked this question:

Mr. David Shaw’s question, “…Andres, from your work on the future which management skills need to be developed? Classically the management role is about planning, organizing, leading and controlling. With the changes coming in the future what’s your view on how this management mix needs to change and adapt?…” Question was posited on an Internet Forum, formulated by Mr. David Shaw (Peterborough, United Kingdom) on October 09, 2013.

This is an excerpt from, “…The Future of Scientific Management, Today…” that discusses state-of-the-art management theories and practices. To read the entire piece, just click the link at the end of article.

CONCLUSION

In addition to being aware and adaptable and resilient before the driving forces reshaping the current present and the as-of-now future, THERE ARE SOME EXTRA MANAGEMENT SUGGESTIONS THAT I CONCURRENTLY PRACTICE:

1.- Given the vast amount of insidious risks, futures, challenges, principles, processes, contents, practices, tools, techniques, benefits and opportunities, there needs to be a full-bodied practical and applicable methodology (methodologies are utilized and implemented to solve complex problems and to facilitate the decision-making and anticipatory process).

The manager must always address issues with a Panoramic View and must also exercise the envisioning of both the Whole and the Granularity of Details, along with the embedded (corresponding) interrelationships and dynamics (that is, [i] interrelationships and dynamics of the subtle, [ii] interrelationships and dynamics of the overt and [iii] interrelationships and dynamics of the covert).

Both dynamic complexity and detail complexity, along with fuzzy logic, must be pervasively considered, as well.

To this end, it is wisely argued, “…You can’t understand the knot without understanding the strands, but in the future, the strands need not remain tied up in the same way as they are today…”

For instance, disparate skills, talents, dexterities and expertise won’t suffice ever. A cohesive and congruent, yet proven methodology (see the one above) must be optimally implemented.

Subsequently, the Chinese proverb indicates, “…Don’t look at the waves but the currents underneath…”

2.- One must always be futurewise and technologically fluent. Don’t fight these extreme forces, just use them! One must use counter-intuitiveness (geometrically non-linearly so), insight, hindsight, foresight and far-sight in every day of the present and future (all of this in the most staggeringly exponential mode). To shed some light, I will share two quotes.

The Panchatantra (body of Eastern philosophical knowledge) establishes, “…Knowledge is the true organ of sight, not the eyes.…” And Antonio Machado argues, “… An eye is not an eye because you see it; an eye is an eye because it sees you …”

Managers always need a clear, knowledgeable vision. Did you already connect the dots stemming from the Panchatantra and Machado? Did you already integrate those dots into your big-picture vista?

As side effect, British Prime Minister W. E. Gladstone considered, “…You cannot fight against the future…”

THE METHOD

3.- In all the Manager does, he / she must observe and apply, at all times, a sine qua non maxim, “…everything is related to everything else…”

4.- Always manage as if it were a “project.” Use, at all times, the “…Project Management…” approach.

5.- Always use the systems methodology with the applied omniscience perspective.

In this case, David, I mean to assert: The term “Science” equates to about a 90% of “…Exact Sciences…” and to about 10% of “…Social Sciences…” All science must be instituted with the engineering view.

6.- Always institute beyond-insurance risk management as you boldly integrate it with your futuring skill / expertise.

7.- In my firmest opinion, the following must be complied this way (verbatim): the corporate strategic planning and execution (performing) are a function of a grander application of beyond-insurance risk management.It will never work well the other way around. TAIRM is the optimal mode to do advanced strategic planning and execution (performing).

TAIRM (Transformative and Integrative Risk Management) is not only focused on terminating, mitigating and modulating risks (expenses of treasure and losses of life), but also concentrated on bringing under control fiscally-sound, sustainable organizations and initiatives.

TAIRM underpins sensible business prosperity and sustainable growth and progress.

8.- I also believe that we must pragmatically apply the scientific method in all we manage to the best of our capacities.

If we are “…MANAGERS…” in a Knowledge Economy and Knowledge Era (not a knowledge-driven eon because of superficial and hollow caprices of the follies and simpletons), we must do therefore extensive and intensive learning and un-learning for Life if we want to succeed and be sustainable.

As a consequence, Dr. Noel M. Tichy, PhD. argues, “…Today, intellectual assets trump physical assets in nearly every industry…”

Consequently, Alvin Toffler indicates, “…In the world of the future, THE NEW ILLITERATE WILL BE THE PERSON WHO HAS NOT LEARNED TO LEARN…”

We don’t need to be scientists to learn some basic principles of advanced science.

EFFORT

Accordingly, Dr. Carl Sagan, PhD. expressed, “…We live in a society exquisitely dependent on science and technology, in which hardly anyone knows about science and technology…” And Edward Teller stated, “…The science of today is the technology of tomorrow …”

And it is also crucial this quotation by Winston Churchill, “…If we are to bring the broad masses of the people in every land to the table of abundance, IT CAN ONLY BE BY THE TIRELESS IMPROVEMENT OF ALL OF OUR MEANS OF TECHNICAL PRODUCTION…”

9.- In any management undertaking, and given the universal volatility and rampant and uninterrupted rate of change, one must think and operate in a fluid womb-to-tomb mode.

The manager must think and operate holistically (both systematically and systemically) at all times.

The manager must also be: i) Multidimensional, ii) Interdisciplinary, iii) Multifaceted, iv) Cross-functional, and v) Multitasking.

That is, the manager must now be an expert state-of-the-art generalist and erudite. ERGO, THIS IS THE NEWEST SPECIALIST AND SPECIALIZATION.

Managers must never manage elements, components or subsystems separately or disparately (that is, they mustn’t ever manage in series).

Managers must always manage all of the entire system at the time (that is, managing in parallel or simultaneously the totality of the whole at once).

10.- In any profession, beginning with management, one must always and cleverly upgrade his / her learning and education until the last exhale.

An African proverb argues, “…Tomorrow belongs to the people who prepare for it…” And Winston Churchill established, “…The empires of the future are the empires of the mind…” And an ancient Chinese Proverb: “…It is not our feet that move us along — it is our minds…”

And Malcolm X observed, “…The future belongs to those who prepare for it today…” And Leonard I. Sweet considered, “…The future is not something we enter. The future is something we create…”

And finally, James Thomson argued, “…Great trials seem to be a necessary preparation for great duties …”

The entire document is available at http://lnkd.in/bYP2nDC

Futurewise Success Tenets

“Futurewise Success Tenets” here is an excerpt from, “The Future of Scientific Management, Today”. To read the entire piece, just click the link at the end of article. As follows:

(1) Picture mentally, radiantly. (2) Draw outside the canvas. (3) Color outside the vectors. (4) Sketch sinuously. (5) Far-sight beyond the mind’s intangible exoskeleton. (6) Abduct indiscernible falsifiable convictions. (7) Reverse-engineering a gene and a bacterium or, better yet, the lucrative genome. (8) Guillotine the over-weighted status quo. (9) Learn how to add up ─ in your own brainy mind ─ colors, dimensions, aromas, encryptions, enigmas, phenomena, geometrical and amorphous in-motion shapes, methods, techniques, codes, written lines, symbols, contexts, locus, venues, semantic terms, magnitudes, longitudes, processes, tweets, “…knowledge-laden…” hunches and omniscient bliss, so forth. (10) Project your wisdom’s wealth onto communities of timeless-connected wikis. (11) Cryogenize the infamous illiterate by own choice and reincarnate ASAP (multiverse teleporting out of a warped / wormed passage) Da Vinci, Bacon, Newton, Goethe, Bonaparte, Edison, Franklyn, Churchill, Einstein, and Feynman. (12) Organize relationships into voluntary associations that are mutually beneficial and accountable for contributing productively to the surrounding community. (13) Practice the central rule of good strategy, which is to know and remain true to your core business and invest for leadership and R&D+Innovation. (14) Kaisen, SixSigma, Lean, LeanSigma, “…Reliability Engineer…” (the latter as solely conceived and developed by Procter & Gamble and Los Alamos National Laboratories) it all unthinkably and thoroughly by recombinant, a là Einstein Gedanke-motorized judgment (that is to say: Einsteinian Gedanke [“…thought experiments…”]. (15) Provide a road-map / blueprint for drastically compressing (‘crashing’) the time’s ‘reticules’ it will take you to get on the top of your tenure, nonetheless of your organizational level. (16) With the required knowledge and relationships embedded in organizations, create support for, and carry out transformational initiatives. (17) Offer a tested pathway for addressing the linked challenges of personal transition and organizational transformation that confront leaders in the first few months in a new tenure. (18) Foster momentum by creating virtuous cycles that build credibility and by avoiding getting caught in vicious cycles that harm credibility. (19) Institute coalitions that translate into swifter organizational adjustments to the inevitable streams of change in personnel and environment. (20) Mobilize and align the overriding energy of many others in your organization, knowing that the “…wisdom of crowds…” is upfront and outright rubbish. (21) Step outside the boundaries of the framework’s system when seeking a problem’s solution. (22) Within zillion tiny bets, raise the ante and capture the documented learning through frenzy execution. (23) “…Moonshine…” and “…Skunks-work…” and “…Re-Imagineering…” all, holding in your mind the motion-picture image that, regardless of the relevance of “…inputs…” and “…outputs,…”, entails that the highest relevance is within the sophistication within the THROUGHPUT.….. (69) Figure out exactly which neurons to make synapses with. (70) Wire up synapses the soonest…”

Read the full material at http://lnkd.in/bYP2nDC

Regards,

Mr. Andres Agostini
www.linkedin.com/in/AndresAgostini