The implications of a non-government financial currency
On Tuesday Facebook and the Libra consortium officially announced their new financial currency. Already, government regulators are seeking to press pause on the project until some big questions can be answered. U.S. Representative Patrick McHenry , the top Republican on the House Financial Services committee, has asked for an inquiry, and European regulators have immediately expressed concern. Wired
dis-rup-shun: Policy makers’ concerns about a privately controlled currency are many, including how to handle fraud, how to prevent money laundering, how to ensure stability of existing financial systems, and how to maintain the ability to influence monetary policy when buyers and sellers could move to another system if it was more favorable. We can liken this privatization effort to creating a private version of the TSA in other parts of the airport, creating alternative mail carriers (think UPS and FedEx), building alternative power grids on new poles next to existing, or creating private armies that will be deployed when corporate interests dictate. Sometimes a private currency would be favorable, and other times disastrous, but what is certain is that it would greatly undermine governments’ abilities to manipulate currency and the economy through fiscal policy. The irony is that before Facebook got involved, cryptocurrencies have been operated under fairly shady circumstances and now that a well organized entity is entering the fray, governments are ready to take action.
U.S. gaming market larger than China’s
Since 2015, China’s gaming market has been the largest. Given a 9 month ban by China’s government on approving any new games, the $37 billion U.S. market will again exceed China’s in total value. ZDNet
dis-rup-shun: China seeks to change its citizenry’s high rate of addiction to gaming with the temporary ban. Chinese leaders, however, are failing to see the high correlation between video gaming and technical fluency among youth. China is focused on becoming the global leader in technology and therefore should encourage youth to immerse themselves in Internet and console gaming, where technical creativity may blossom.
Smart plugs are easy, cheap and powerful
To experience the power and potential of a smart home, one can easily start with a voice assistant and their choice of an inexpensive smart plug – a device controlled through an app or voice assistant which can turn off appliances based on rules set by the user. CNET offers a guide to smart plugs and their apps.
dis-rup-shun: Smart plugs are a powerful way to experience the convenience, extra sense of security, and energy savings of home automation. Having lights turn on and off when you are away from home, or turning off an always-on cable box in the wee hours can make a difference on the power bill. Most all appliances, in their next generation, will offer built in control features, but in the interim, smart plugs are highly effective.