Blockchain embodies the internet of value. How will it revolutionize our lives and our pockets?
And, we look at the qualities Blockchain needs to spark mass adoption.
https://youtu.be/oJGVvJS0A0I
Blockchain,
one of the buzzwords in technology, is set to rise in China. Recently,
Chinese President Xi Jinping underscored the fledgling technology as the
country increasingly views Blockchain as key to future innovation. Has a
digital game changer arrived? How will a boom in Blockchain impact our
lives? Today we delve into the world of the new technology and talk to
Don Tapscott, co-founder and executive chairman of the Blockchain
Research Institute, to find out more.
https://youtu.be/DCLqWpXFE2o
Currency of Trust
Blockchain has the potential to be revolutionary. But, what hurdles must it overcome before it can hit the mainstream? In London, we invited Patrick McCorry, founder and CEO of PISA Research, a grant funded by a group of Blockchain companies, to decode this ever-changing world.
https://youtu.be/A2IDapvfUTM
https://youtu.be/41hPRCnUCtI
https://youtu.be/8H-pJ9hs9I4
Private cryptocurrency a misallocation among blockchain technology, says economist
Cryptocurrency is digital-based cash among the internet world nowadays. Born from blockchain, this kind of "currency" is blooming in terms of high privacy. Acknowledging that, Nobel Prize-winning economist and Harvard professor Eric Maskin commented that private cryptocurrency is a misallocation.
"The most important application of blockchain so far has been cryptocurrency, and that is a terrible misallocation. In my view, cryptocurrency, at least private cryptocurrency like bitcoin is a mistake," said Maskin.
"Because the public currency like RMB and U.S. dollar are much more useful than private currency. [Public currencies] they preserve the power of central banks to conduct monetary policy. If no one is using the dollar, then the U.S. monetary policy is useless. So I'm worried about cryptocurrency only to the extent that it reduces the use of currencies like RMB or dollar," he added.
He also pointed out that cryptocurrencies could interfere with central banks' monetary policies.
Meanwhile, Maskin supports the idea that blockchain is a technology. He noted that it is one of the exciting developments that have come along in recent years.
"Blockchain can make all sorts of transactions much easier and much more secure. It can also ensure that only the information that people need to have gets transmitted," said Maskin.
"Blockchain is a way for me to guarantee that only what you need to about me gets told. And that's valuable in a world where we're beginning to worry about privacy issues," the professor explained.
Besides, Maskin supports building the country's own digital currencies. With the backdrop of e-payment booming around the world, Maskin said the digital currency can make transaction easier but it won't have all of the unpleasant side effects of these private currencies.
The message from Tanjung Piai is really quite simple and straightforward.
The Malays are willing to vote for BN, MCA, PH or PPBM. To them, which party or coalition to vote for is secondary. Increasingly, they want a government that can work for them, not just good in hoodwinking.
Some pundits claimed that it was Umno-PAS union that pulled the Malay votes for BN. I would prefer to think that it is the “push factors” to vote against PPBM and Pakatan Harapan that caused the swing.
Frankly, I think most are quite fed-up with the PH government by now. Many must have paused to ask themselves which aspect of their life has become better since May 9, 2018.
Maybe they couldn’t find any other than the continued intrigues and infighting within PH component parties.
The Chinese, too, can vote for different candidates and different coalitions at different times. To them, it does not matter if it is PPBM, PH, BN or MCA. It shows Chinese Malaysians are not racist. They just want to be treated fairly; it does not matter which race represents them in the government.
PPBM, Amanah and PKR need to be reminded that the Chinese are not leftovers; they are productive citizens.
No one wishes to be insulted, so let no one tell the Chinese to go back to China again. This is totally unacceptable.
The Chinese value their children’s education very much because they know they can’t depend on the government for jobs. So, forums and congresses threatening to shut down certain schools should stop.
They want multilingual education for their children, so stop telling them what language they can or cannot learn. If the government cannot protect the minority, it does not deserve support, period.
Finally, all Malaysians – Malays, Chinese, Indians and others – hate an incompetent government. So stop talking about flying cars, third national car, crooked bridge, Kulim Airport which is a stone’s throw from Penang, and endless plans for Penang.
China unveils its 2020 Mars probe
https://youtu.be/hdj8-XSOAg8
A lander for China's Mars mission is seen
before a hovering-and-obstacle avoidance test at a test facility in
Huailai, Hebei province, China November 14, 2019. REUTERS/Jason Lee
https://youtu.be/6H00j4Cub1g
HUAILAI, China (Reuters) - China on Thursday successfully completed a lander test in northern Hebei province ahead of an unmanned exploration mission to Mars next year.
China is on track to launch its Mars mission in 2020, Zhang Kejian, head of the China National Space Administration, said on Thursday. Zhang was speaking ahead of the hovering-and-obstacle avoidance test for the lander.
The journey through space will take about seven months, while landing will take seven minutes, said Zhang Rongqiao, chief architect of the Mars exploration programme.
The test was conducted at a sprawling landing test site in Huailai, northwest of Beijing.
China has developed the powerful Long March 5 rocket to transport the probe to Mars in 2020.
The same rocket is meant to deliver the Chang'e-5 probe to the moon by the end of 2019 or early next year to bring back samples of lunar rocks.
The Chang'e-4 probe successfully touched down on the far side of the moon in January this year, a historic first and major achievement for China's space programme.
China made its first lunar landing in 2013.
China expects to complete a modular space station around 2022, around the time when NASA is said to start building a new space station laboratory to orbit the moon, as a pit stop for missions to other parts of the solar system.
In 2003, China became the third nation to put a man in space with its own rocket after the former Soviet Union and the United States.
Since then, it has been racing to catch up with Russia and the United States and become a major space power by 2030.
(Reporting by Martin Pollard; Writing by Ryan Woo and Liangping Gao; Editing by Raju Gopalakrishnan)
China preparing for Mars mission in global space projects
It’s a success: A lander being lifted during a test at a facility in Hebei province. — AP
HUAILAI: China invited observers to a successful test of its Mars lander as the country pushes for inclusion in more global space projects.
The demonstration of hovering, obstacle avoidance and deceleration capabilities was conducted at a site outside Beijing simulating conditions on the Red Planet, where the pull of gravity is about one-third that of Earth.
China plans to launch a lander and rover to Mars next year to explore parts of the planet in detail.
China’s burgeoning space programme achieved a lunar milestone earlier this year by landing a probe on the mysterious far side of the moon.
It has developed rapidly, especially since it conducted its first crewed mission in 2003 and has sought cooperation with space agencies from Europe and elsewhere.
The US, however, has banned most space cooperation with China out of national security concerns, keeping China from participating in the International Space Station.
Despite that, China’s ambitions continue to grow as it seeks to rival the US, Russia and Europe in space and cement its position as a regional and global power. It is gradually constructing its own larger, more permanent space station in which it has invited foreign participation.
The lander yesterday successfully avoided ground obstacles during a simulated low-gravity descent, according to the China Aerospace Science and Technology Corporation, the Chinese space programme’s main contractor.
The refrigerator-sized craft was lowered gently on 36 cables through the air for about a minute and used onboard jets spraying rust-coloured fumes to alter its downward course.
“After the probe is launched, it will take about seven months to reach Mars, and the final procedure of landing will only last about seven minutes, which is the most difficult and the most risky part of the whole mission, ” said the Mars mission’s chief designer, Zhang Rongqiao, standing before the 140m-tall testing facility.
Recent rover crashes on the moon by Israel and India highlight the difficulties of safe landings from space.
The remote Comprehensive Testing Ground for Landing on Extraterrestrial Bodies run by CASC lies an hour north of the Great Wall from Beijing.
Guests at yesterday’s event came from 19 countries and included the ambassadors of Brazil, France and Italy. — AP
China successfully sent its 49th satellite for its
domestically developed BeiDou Navigation Satellite System, or BDS, into a
planned orbit on Tuesday morning, navigation authorities told the
Global Times.
Source: Globaltimes.cn | 2019/11/5 2:54:14
China on Sunday launched an advanced 3D mapping satellite
that can clearly see small country lanes from orbit, and will play a
vital role in supporting urban and agricultural development.
Source: Global Times | 2019/11/3 14:27:27
China plans to launch the Chang'e-5 probe in 2020 to
bring moon samples back to Earth, according to Wu Weiren, chief designer
of China's lunar exploration program.
Source: Xinhua | 2019/10/28 11:55:48
In the wilderness of Daocheng, southwest China's Sichuan
Province, 4,400 meters above sea level, Chinese scientists are
constructing a cosmic ray observation station on an area equivalent to
200 soccer fields.
Source: Xinhua | 2019/10/24 10:07:14
In the wilderness of Daocheng, southwest China's Sichuan
Province, 4,400 meters above sea level, Chinese scientists are
constructing a cosmic ray observation station on an area equivalent to
200 soccer fields.
Source: Xinhua | 2019/10/23 17:15:43
A Chinese reusable carrier rocket that uses liquid
oxygen-methane propellants made its first public appearance Friday at
the ongoing 2019 Zhongguancun Forum in Beijing.
Source: Xinhua | 2019/10/22 10:07:33
China sent a new communication technology experiment
satellite into planned orbit from the Xichang Satellite Launch Center in
southwest China's Sichuan Province late Thursday.
Source: Xinhua | 2019/10/18 10:52:19
Aircrafts stage a performance at the 2019 Yaocheng
(Taiyuan) International General Aviation Show in Qingxu County, Taiyuan,
capital of north China's Shanxi Province, Oct. 11, 2019.
Source: Xinhua | 2019/10/12 13:31:52
Chinese scientists are paying close attention to a
repeating fast radio burst by making follow-up observations during the
country's National Day holiday.
Source: Xinhua | 2019/10/7 8:49:48
China sent its observation satellite into space from the
Taiyuan Satellite Launch Center in north China's Shanxi Province at 2:51
a.m. Saturday (Beijing Time).
Source: Xinhua | 2019/10/5 11:25:16
The China Spallation Neutron Source (CSNS), located in
Dongguan City, south China's Guangdong Province, began a new round of
user operation Thursday, with 57 experiments on new materials to be
conducted in the next four months.
Source: Xinhua | 2019/9/28 13:10:40
China sent a new satellite into planned orbit from the
Jiuquan Satellite Launch Center in northwest China's Gobi Desert on
Wednesday.
Source: Xinhua | 2019/9/25 15:38:52
China's lunar rover Yutu-2, or Jade Rabbit-2, discovered
an unidentified substance in an impact crater on the far side of the
moon.
Source: Xinhua | 2019/9/24 13:41:53
Coastal Jiangsu Province has installed China's first
C-band phased array meteorological radar system, designed to quickly
detect and monitor extreme weather including tornados, developers said
on Wednesday.
Source: Global Times | 2019/9/18 19:38:40
A newly discovered comet appears to have originated from
outside the solar system, said NASA's Jet Propulsion Laboratory (JPL) in
a release.
Source: Xinhua | 2019/9/14 8:44:08
Chinese astronomers have detected repeated fast radio
bursts (FRB) - mysterious signals believed to be from a source about 3
billion light years from Earth - with the largest and most sensitive
radio telescope ever built.
Source: Xinhua | 2019/9/9 10:53:42
The US has once again disparaged the Chinese economy to entertain itself. US President Donald Trump on Saturday claimed China's supply chain was "all broken, like an egg," and said China wanted a deal more than the US did.
The fact is, however, senior US officials are talking about trade wars and trade deals almost every day, while Chinese officials rarely do this. Anyone who knows a little bit about psychology can figure out that such responses of the US reflect anxiety, rather than calmness.
Is China's supply chain broken like an egg? Chinese telecom giant Huawei has not begged the US to be "magnanimous." It is now US companies that are asking to be excluded from US restrictions.
Being placed in the Entity List has certainly caused difficulties for Huawei, but such hardships are far from delivering vital blows to fling the company down. Some US elites are clamoring for knocking Huawei down, but their indecent acts have only stimulated Huawei's strength and growth. And Chinese people generally believe that this high-tech company will be increasingly strong.
The US cannot even defeat one Chinese enterprise by making full use of its whole country's power. Now it is claiming it will break the supply chain of all of China as an egg. Is such bragging too exaggerated? We wonder how the public opinion and voters in the US can tolerate such a boast. The voters are seemingly quite gullible.
The US is suffering an economic downturn, and many indicators demonstrate that its good days are coming to an end. US state leaders and senior officials are like cheerleaders, taking turns to cheer up the stock index.
In terms of economic situations, Chinese officials' description is absolutely more objective and calm than the US side. China recognizes that the trade war has brought negative impacts, and our efforts to eliminate such effects are open and timely. The US, however, is trying to cover up the effects of the trade war it has launched.
China has already focused its efforts on solving its own problems. We will not bet on the idea that reaching a deal will fundamentally change China-US economic relations. Most Chinese believe that whether there is an agreement or not, turmoil between the two countries will not end. Chinese society is in favor of reaching a trade deal, but it is also patient.
Including Chinese companies such as Huawei in the Entity List will cause long-term damages to US business community's reputation. Foreign companies may be on guard against US enterprises in the future while building their own supply chains, which will certainly offer more opportunities for US competitors.
The US is so keen on imposing sanctions, and is fond of applying sanctions on related third-parties. Betting on US companies may work in a short term, but cannot serve as a long-term strategy. The US has trodden business ethics under foot in this round of China-US games. It is even pleased with itself for overtly destroying China's supply chain. At the strategic planning in the US, there are no such concepts like honesty and morality. The Chinese society has clearly observed this, as has the entire world.
Fortunately, China has the widest range of manufacturing sectors in the world, which has given the country a special strength in the global supply chain. China is not afraid of any game against the supply chain. Producers without China's supply chain will certainly feel more pain than China.
China, Huawei growth soars as Pompeo screams (new report)
US State Sec. Mike Pompeo has heaped unprecedented criticism on China’s
government, saying it needs to be “confronted head on” and that it poses
a threat to US national security. Sourabh Gupta, of the Institute for
China America Studies joins Rick Sanchez to share his expertise. He
argues that the US is “way too far ahead with its rhetoric” about China
and that Pompeo’s attacks on Beijing are because the US “cannot compete”
with China’s meteoric development.
KUALA LUMPUR (Nov 11): Justice Mohd Nazlan Mohd Ghazali took an hour to deliver his decision today that the prosecution has successfully established a prima facie case against former premier Datuk Seri Najib Razak on all seven charges in the SRC International Sdn Bhd trial.
What was significant was that the judge devoted half an hour to just one charge, namely abuse of power.
Najib also faces three criminal breach of trust charges and three money-laundering charges in relation to the alleged embezzlement of RM42 million from SRC in 2014 and 2015.
On the power abuse charge, Justice Nazlan said evidence adduced by the prosecution showed that the series of actions taken by Najib in respect of SRC showed personal interest beyond that of public office.
Najib, who is also the member of parliament for Pekan and former Barisan Nasional chairman, had agreed to the recommendation made by the Economic Planning Unit to approve a RM20 million launching grant for SRC when the company initially applied for a RM3 billion grant, the judge noted.
"Before SRC was placed under 1Malaysia Development Bhd (1MDB), SRC's Articles of Association under Section 67 stipulates that the accused as PM has the power to appoint and remove the members of the board of directors of the company," the judge said.
More importantly, Justice Nazlan said Najib responded to a letter dated June 3, 2011 from SRC's former chief executive officer (CEO) and managing director, Nik Faisal Ariff Kamil, who sought a RM3.95 billion loan.
"Najib made a notation on the letter addressed to the Retirement Fund Inc (KWAP) CEO Datuk Azian Mohd Noh stating in fact that he was agreeing to it, and wanted Azian to look into it.
"It should be highlighted that KWAP is a statutory institution which in effect reports to the finance minister and KWAP board members and whose investment panel members are appointed by the finance minister, under Section 6 and 7 of the KWAP Act," the judge said.
Najib the ultimate boss
Justice Nazlan said Najib had informed then Treasury secretary-general and KWAP chairman Tan Sri Dr Wan Abdul Aziz Wan Abdullah to expedite the approval of the SRC loan, and that this happened after Wan Abdul Aziz and Azian had briefed Najib that KWAP was initially considering extending a loan of only RM1 billion.
"Crucially, Wan Abdul Aziz testified under cross-examination that he did not consider the said communication with the accused as an instruction from Najib. In addition Azian, the former KWAP CEO, testified there was no legal compulsion. She could not deny that there was a certain amount of influence in the notation directed to her in the June 3, 2011 letter.
"This was due to the fact that Azian felt Najib was the PM and the minister in charge of KWAP and her "ultimate boss"," the judge said, adding that before KWAP approved the loan, SRC had written to the finance ministry seeking a government guarantee in anticipation of the RM2 billion loan.
The judge also noted the deputy secretary-general of Treasury, Datuk Mat Noor Nawi, had testified that the transfer of the share of ownership of SRC from 1Malaysia Development Bhd (1MDB) to Ministry of Finance Incorporated was executed by Najib, who was also the finance minister.
Justice Nazlan said the series of conduct and involvement of Najib with regard to SRC, if viewed in totality, cannot be construed as purely being a lawful exercise of his official duty as either the prime minister, finance minister or advisor emeritus of SRC.
"This is because such conduct and involvement was beyond the ordinary and outside the usual conduct or involvement expected of a prime minister and finance minister, similarly circumstanced.
"Such conduct and involvement exhibited by the accused instead serves only to demonstrate the existence of private and personal interest on the part of the accused in SRC, which interest, in my judgement, is in the nature that is envisaged under the law to fall within the ambit of Section 23 of the MACC Act," the judge ruled.
Justice Nazlan further reasoned that the argument that Najib had not given any instructions or directions but merely made requests and had no role to play in securing the KWAP loan cannot withstand the court's scrutiny.
He said if these were couched as mere requests it is manifest that they were made by Najib because they were meant to be obeyed.
"Everyone else in the picture was in a position subordinate to the accused. These included the secretary-general of the Treasury and the (then) Second Finance Minister (Datuk Seri Ahmad Husni Hanadzlah)," he said.
Justice Nazlan said the prosecution has also showed that Najib participated in the decision-making process at the meetings of the Cabinet, which the ex-premier chaired and where the two government guarantees for the loans extended by KWAP to SRC were approved.
This, he said, is clearly is a decision or action taken by Najib in relation to the government guarantee, which was to guarantee KWAP the repayment of the loan by SRC, in which Najib had an interest of a nature that is caught under Section 23 of the Malaysian Anti-Corruption Commission Act 2009.
"In fact the accused himself, as the PM who chaired the meetings, had tabled the Cabinet paper on the second government guarantee at the meeting which approved the same on Feb 8, 2012.
"There was no disclosure, let alone any attempt to excuse himself from the deliberation on the Cabinet papers at the either of the said meetings," he said, adding that Najib also subsequently chaired a cabinet meeting where a short-term loan was approved when SRC nearly defaulted KWAP payment.
"Given the accused's control over SRC, he could cause the transfers of RM42 million which were through intermediary companies credited into his personal accounts and eventuality utilised and spent to his own advantage. This is gratification to the accused pure and simple," he said, in ruling that Najib has to enter his defence on the abuse of power charge.
Najib is charged under Section 23 of the MACC Act for allegedly using his position as the prime minister and finance minister to commit bribery involving RM42 million when he participated in or was involved in the decision to provide government guarantees for loans from the Retirement Fund Inc to SRC amounting to RM4 billion.
He is alleged to have committed the offence at the Prime Minister's Office in Putrajaya between Aug 17, 2011 and Feb 8, 2012. If convicted, he faces a jail term of up to 20 years, and a fine of not less than five times the amount or value received or RM10,000, whichever is higher.
The Edge is reporting the proceedings of the SRC trial live.
