Lifeboat Foundation

At the end of 2017 and the first months of 2018, we witnessed a surge of interest in Initial Coin Offerings or ICOs. Perhaps the word “interest” gives too much credit to ICOs. Most are scams. ICOs are pushed through by vendor hype, rather than pulled through by investor research. They are almost all pump-and-dump schemes.

But what about Bitcoin? It is not a scam, but questions remain about regulation, intrinsic value* and its likelihood to be superseded by something better. Bitcoin skeptics point to two facts: (1) Bitcoin is open source, and so anyone can create an equally good altcoin. (2) Newer coins incorporate improvements that overcome governance and scaling issues: cost, transaction speed, the burgeoning electric needs of miners, or whatever…

While both statements are true, they miss the point. This is not a VHS-vs-Beta scenario. Bitcoin has achieved a 2-sided network and it is free to fold in every vetted improvement that comes along. For Bitcoin, all those other coins are simply beta tests.

Even the functional tokens will unwittingly feed their “improvements” into Bitcoin. For this reason, it is a safe bet that Bitcoin will reign supreme for years to come—perhaps even long enough for the dominos to fall.

Continue reading “ICOs & Altcoins rise and fall—yet, Bitcoin endures” »

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But first, science candidates must win their races. Most face long odds. For starters, voters may be impressed by a candidate’s scientific credentials, but such background is rarely a decisive factor when they go to the polls. In addition, most of this year’s STEM candidates are political novices who are starting out far behind their opponents when it comes to knowing how to run a professional campaign.

House races feature unusual upsurge in entrants with technical backgrounds.

Godfrey Bloom is a member of the British Parliament. His in-your-face style of educating and shocking his peers has made him a controversial politician. He has occasionally been escorted out of the assembled parliament because of his rowdy rhetoric.

Consider the video below. Bloom offers a critical, but simple and clear explanation of the Fractional Reserve banking system used in the US and Europe. This gets to the heart of the matter! _{[continue below video]…}

Conclusion (mine, and not Mr. Bloom’s): It is in the interest of governments to use a form of money that they cannot manipulate, print, spend, hide or lend without first earning, taxing or legitimately borrowing — and then balancing the books, openly.

Continue reading “Would an ethical government surrender control of monetary policy?” »

“The recent launch of the SpaceX rocket Falcon Heavy is a good illustration of the entry of efficient and innovative private players into an arena long considered the preserve of national governments. But this does not mean that national competition in outer space is disappearing. If anything, it is actually accelerating in Asia. China’s growing space prowess is leading to a space race with India and Japan, which are beginning to pool their resources to better match Beijing.”

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“These days, Chinese scientists stand at least as good a chance of making a global impact on science from within China itself.”

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When the Chinese government released its Next Generation Artificial Intelligence Plan in July 2017, it crisply articulated the country’s ambition: to become the “world’s primary AI innovation center” by 2030. That headline goal turned heads within the global tech elite. Longtime Google CEO Eric Schmidt cited the plan as proof that China threatened to overtake the United States in AI. High-ranking American military leaders and AI entrepreneurs held it up as evidence that the United States was falling behind in the “space race” of this century. In December 2017, China’s Ministry of Industry and Information Technology followed up with a “three-year action plan,” a translation of which was recently released by New America’s DigiChina initiative.

But how do these plans actually work? There’s a tendency to place this AI mobilization within China’s longstanding tradition of centrally planned engineering achievements that have wowed the world. The rapid build-out of the country’s bullet train network stands as a monument to the power of combining central planning and deep pockets: in the span of a decade, the Chinese central government spent around $360 billion building 13,670 miles of high-speed rail (HSR) track, more mileage than the rest of the world combined.

But putting the AI plan in this tradition can be misleading. While it follows this model in form (ambitious goal set by the central government), it differs in function (what will actually drive the transformation). The HSR network was dreamed up and drawn up by central government officials, and largely executed by state-owned enterprises. In AI, the real energy is and will be with private technology companies, and to a lesser extent academia.

To achieve this, the government is hoping to find more scientists like Koul, who sees his role as an “opportunity to address bigger social as well as scientific challenges”.

This is a tall order, and there’s an elephant in the room. Government funding for Indian research and development has stagnated at around 0.85% of gross domestic product for more than a decade, compared with at least 3% invested by technologically advanced nations such as Denmark, Japan and Sweden.

A push to reverse its brain drain is providing the expertise to tackle its domestic problems.

Elon Musk has agreed to build what is being hailed the “world’s largest virtual power plant”, by rolling out solar panels and Tesla batteries to 50,000 homes in South Australia. The scheme, which will be completed over the next four years, will see any excess energy stored in each battery fed back into the grid to provide power to the rest of the state whenever required. The South Australian government claims participating households will generate a total of 250MW of electricity – about half as much energy produced by a typical coal-fired power station. Read more — Elon Musk about to launch…