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Category: economics – Page 96

Coventry, a city in the United Kingdom, will play host to the world’s first airport for electric flying cars and delivery drones. Urban Air Port will build the Air One transport hub next to the city’s Ricoh Arena and will open later this year. It’ll be used to transport cargo and hopefully even people later across cities.

The city was specifically chosen by the company for its relatively central location and also because it’s a historically prominent location for both the aerospace and automobile industries. The project received a £1.2 million grant after winning the Government’s Future Flight Challenge, and the city is now in an urban air mobility partnership that’s backed by the UK Government.

“Cars need roads. Trains need rails. Planes need airports. eVTOLs will need Urban Air Ports. Over 100 years ago, the world’s first commercial flight took off, creating the modern connected world. Urban Air Port will improve connectivity across our cities, boost productivity and help the UK take the lead in a whole new clean global economy. Flying cars used to be a futuristic flight of fancy. Air-One will bring clean urban air transport to the masses and unleash a new airborne world of zero-emission mobility,” said Ricky Sandhu, Urban Air Port’s founder and executive chairman.

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Welcome back to The TechCrunch Exchange, a weekly startups-and-markets newsletter. It’s broadly based on the daily column that appears on Extra Crunch, but free, and made for your weekend reading. Want it in your inbox every Saturday morning? Sign up here.

Earnings season is coming to a close, with public tech companies wrapping up their Q4 and 2020 disclosures. We don’t care too much about the bigger players’ results here at TechCrunch, but smaller tech companies we knew when they were wee startups can provide startup-related data points worth digesting. So, each quarter The Exchange spends time chatting with a host of CEOs and CFOs, trying to figure what’s going on so that we can relay the information to private companies.

Sometimes it’s useful, as our chat with recent fintech IPO Upstart proved after we got to noodle with the company about rising acceptance of AI in the conservative banking industry.

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“The furin cleavage site consists of four amino acids PRRA, which are encoded by 12 inserted nucleotides in the S gene. A characteristic feature of this site is an arginine doublet. This insertion could have occurred by random insertion mutation, recombination or by laboratory insertion. The researchers say the possibility of random insertion is too low to explain the origin of this motif. Surprisingly, the CGGCGG codons encoding the two arginines of the doublet in SARS-CoV-2 are not found in any of the furin sites in other viral proteins expressed by a wide range of viruses. Even within the SARS-CoV-2, where arginine is encoded by six codons, only a minority of arginine residues are encoded by the CGG codon. Again, only two of the 42 arginines in the SARS-CoV-2 spike are encoded by this codon — and these are in the PRRA motif. For recombination to occur, there must be a donor, from another furin site and probably from another virus. In the absence of a known virus containing this arginine doublet encoded by the CGGCGG codons, the researchers discount the recombination theory as the mechanism underlying the emergence of PRRA in SARS-CoV-2.”

The ongoing pandemic of coronavirus disease 2019 (COVID-19), caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), has largely defied attempts to contain its spread by non-pharmaceutical interventions (NPIs). With the massive loss of life and economic damage, the only way out, in the absence of specific antiviral therapeutics, has been the development of vaccines to achieve population immunity.

A new study on the Preprints server discusses the origin of the furin cleavage site on the SARS-CoV-2 spike protein, which is responsible for the virus’s relatively high infectivity compared to relatives in the betacoronavirus subgenus.

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By 2050, the number of adults over the age of 65 globally will double, reaching a staggering 1.6 billion, with the largest growth in the developing world. This growth will be one of the greatest social, economic, and political transformations of our time, that will impact existing healthcare, government and social systems, that today are largely not inclusive of the ageing population or built to the scale needed to support it.

But we can begin to make investments in our support systems (enabled and scaled by technology) that encompass a coordinated response from governments, society, academia, and the private sector.

A precursor to investing in innovative solutions will be to acknowledge the needs of older adults and identify their caregiving challenges. These are the issues that will inform the solutions agenda.

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TOWARDS a METAMATERIALLY-BASED ANALOGUE SENSOR FOR TELESCOPE EYEPIECES jeremy batterson.

(NB: Those familiar with photography or telescopy can skip over the “elements of a system,” since they will already know this.)

In many telescopic applications, what is desired is not a more magnified image, but a brighter image. Some astronomical objects, such as the Andromeda galaxy or famous nebulae like M42 are very large in apparent size, but very faint. If the human eye could see the Andromeda galaxy, it would appear four times wider than the Moon. The great Orion nebula M42 is twice the apparent diameter of the Moon.

Astrophotographers have an advantage over visual astronomers in that their digital sensors can be wider than the human pupil, and thus can accommodate larger exit pupils for brighter images.

Continue reading “Navy engineer devises new way to enhance night vision for ground forces” | >

Advocates contend central bank digital currencies can make cross-border transactions easier, promote financial inclusion and provide payment system stability. There are also privacy and surveillance risks with government-issued digital currencies. And in times of economic uncertainty, people may be more likely to pull their funds from commercial banks, accelerating a bank run.

Intense interest in cryptocurrencies and the Covid-19 pandemic have sparked debate among central banks on whether they should issue digital currencies of their own.

China has been in the lead in developing its own digital currency. It’s been working on the initiative since 2014. Chinese central bank officials have already conducted massive trials in major cities including Shenzhen, Chengdu and Hangzhou.

“China’s experiment is very large scale,” said J. Christopher Giancarlo, former chairman of the U.S. Commodity Futures Trading Commission. “When the world arrives in Beijing next winter for the Winter Olympics, they are going to be using the new digital renminbi to shop and to stay in hotels and to buy meals in restaurants. The world is going to see a functioning [central bank digital currency] very soon, within the coming year.”

Continue reading “Central banks around the world want to get into digital currencies—here’s why” | >

SACRAMENTO, Calif. (AP) — After getting $500 per month for two years without rules on how to spend it, 125 people in California paid off debt, got full-time jobs and had “statistically significant improvements” in emotional health, according to a study released Wednesday.

The program was the nation’s highest-profile experiment in decades of universal basic income, an idea that was revived as a major part of Andrew Yang’s 2020 campaign for president.

The idea is to bring people out of poverty with a guaranteed monthly income. Supporters say it gives people needed financial security to find good jobs and avoid debt. But critics have argued free money would eliminate the incentive to work, creating a society dependent on the state.

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The money committed to companies and projects in this area increased to $13.8 billion, more than 4.5 times that invested in 2019, according to the Artificial Intelligence Index, an annual report produced under the auspices of Stanford University’s Institute for Human-Centered Artificial Intelligence (HAI).

Those are a few of the insights from this year’s AI Index report, which shows adoption of the pandemic did nothing to dent adoption of the technology.

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