Bitcoin price hit by dramatic value fluctuations amid coronavirus panic buying and selling – The Independent

Bitcoin has experienced wild price swings in recent days as cryptocurrency markets respond to the global economic uncertainty sparked by thecoronavirus epidemic.

The cryptocurrency has swung between highs of $9,000 and lows of 4,000 since the start of March, representing the most severe price volatility since the market explosion and subsequent crash in late 2017.

Over the last week the value of one bitcoin has risen by more than $1,000 to its current price of $6,600.

Sharing the full story, not just the headlines

The latest price rise came after the US Federal Reserve announced unlimited quantitative easing measures to help reduce the economic impact of coronavirus.

This follows similar announcements from other central banks like the Reserve Bank of Australia and the European Central Bank to artificially increase the money supply.

Such drastic economic policy is seen by some analysts as a potential opportunity for investors, who may consider bitcoin as a safe-haven asset due to its decentralised nature.

The limited supply of bitcoin only 21 million will ever exist means it is also immune to quantitative easing and other emergency monetary measures that fiat currencies are susceptible to.

The US Federal Reserves announcement effectively pumps billions of dollars into the market, so some investors may be weary that the dollar will lose its value, and are moving back into bitcoin to hedge against inflation, Simon Peters, a cryptocurrency analyst at the online trading platform eToro, toldThe Independent.

Because the amount of new bitcoin that comes on to the market decreases over time, it is by design a deflationary asset when compared with a fiat currency like the US dollar. In theory the value per bitcoin should increase over time.

Other major cryptocurrencies continue to experience similar fluctuations, though the full extent of the impact the coronavirus outbreak has had on markets is yet to be fully realised.

On 3 January, 2009, the genesis block of bitcoin appeared. It came less than a year after the pseudonymous creator Satoshi Nakamoto detailed the cryptocurrency in a paper titled 'Bitcoin: A peer-to-Peer Electronic Cash System'

Reuters

On 22 May, 2010, the first ever real-world bitcoin transaction took place. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins the equivalent of $90 million at today's prices

Lazlo Hanyecz

Bitcoin soon gained notoriety for its use on the dark web. The Silk Road marketplace, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoin

On 29 October, 2013, the first ever bitcoin ATM was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins for cash

REUTERS/Dimitris Michalakis

The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins. At the time, this was around 7 per cent of all bitcoins and the market inevitably crashed

Getty Images

In 2015, Australian police raided the home of Craig Wright after the entrepreneur claimed he was Satoshi Nakamoto. He later rescinded the claim

Getty Images

On 1 August, 2017, an unresolvable dispute within the bitcoin community saw the network split. The fork of bitcoin's underlying blockchain technology spawned a new cryptocurrency: Bitcoin cash

REUTERS

Towards the end of 2017, the price of bitcoin surged to almost $20,000. This represented a 1,300 per cent increase from its price at the start of the year

Reuters

On 3 January, 2009, the genesis block of bitcoin appeared. It came less than a year after the pseudonymous creator Satoshi Nakamoto detailed the cryptocurrency in a paper titled 'Bitcoin: A peer-to-Peer Electronic Cash System'

Reuters

On 22 May, 2010, the first ever real-world bitcoin transaction took place. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins the equivalent of $90 million at today's prices

Lazlo Hanyecz

Bitcoin soon gained notoriety for its use on the dark web. The Silk Road marketplace, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoin

On 29 October, 2013, the first ever bitcoin ATM was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins for cash

REUTERS/Dimitris Michalakis

The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins. At the time, this was around 7 per cent of all bitcoins and the market inevitably crashed

Getty Images

In 2015, Australian police raided the home of Craig Wright after the entrepreneur claimed he was Satoshi Nakamoto. He later rescinded the claim

Getty Images

On 1 August, 2017, an unresolvable dispute within the bitcoin community saw the network split. The fork of bitcoin's underlying blockchain technology spawned a new cryptocurrency: Bitcoin cash

REUTERS

Towards the end of 2017, the price of bitcoin surged to almost $20,000. This represented a 1,300 per cent increase from its price at the start of the year

Reuters

Bitcoin was launched in 2009in response to the financial crisis of the previous year, offering a revolutionary alternative to the traditional financial system.

The electronic cash system has failed to achieve mainstream adoption in the subsequent years, during which the global economy recovered and achieved sustained growth. Some experts believe that the advent of another economic collapse could be see a renewed interest in bitcoin as an alternative form of currency and store of value.

This is the first time the world has faced a financial crisis when there has been an alternative financial system, said Marcus Swanepoel, CEO of London-based cryptocurrency exchange Luno.

Cryptocurrencies are still very young, and at this stage in their development cannot replace fiat currencies, but as the problems global markets face increase we will see investors looking at digital assets as a way of distancing themselves from digital investments.

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Bitcoin price hit by dramatic value fluctuations amid coronavirus panic buying and selling - The Independent

Chinas Cryptocurrency Is Closer Than Expected, Already Working On Legislation – CryptoPotato

Despite the delay, the Peoples Bank of China (PBC) is closer to launching its official digital currency. By working together with several large private companies, the nations central bank has finished the development process and is working on the proper legislation before the CBDC is released.

After the COVID-19 outbreak, the Chinese central bank digital currency (CBDC) was delayed indefinitely. However, as the country is portraying initial stages of recovering after the deadly virus, a new report informed that the CBDCs launch is closer than anticipated.

The Chinese central bank has completed the development process by collaborating with several local firms, including Huawei, China Merchants Bank, Tencent, and the tech giant Alibaba.

The latter has reportedly publicized five patents related to the future digital currency from January 21st to March 17th. The patents cover various areas of the digital currencys future usage. Those include issuance, digital wallets, transaction recording, anonymous trading support, and assistance in supervising and dealing with illegal accounts.

Aside from all patents, the digital currency has to comply with local legislation as well. This, according to the report, could raise issues, because the currency has to operate with banking and insurance regulators on supervision. This process could be quite lengthy. Therefore, the exact time of the CBDC launch cannot be determined yet.

As the world is arguably entering the next, long-awaited, recession, most central banks are taking extreme measures to fight the economy curtail. The U.S. Fed, for example, cut the interest rates in an unprecedented manner and even announced unlimited quantitative easing.

Chinas approach for stabilizing its economy might differ substantially with the digital currency launch. Cao Yan, managing director of Digital Renaissance Foundation, believes that the PBC should accelerate the development of the CBDC.

He outlined two main merits; firstly, it would establish Chinas leadership position in this new digitally-oriented world. Secondly, a CBDC could be more efficient during times of uncertainty than simply lowering rates.

If there is a chance China is considering lowering its interest rate into negative territory as a final option and directing such policy to commercial loans and lending, a circulated digital currency rather than M0 will be able to achieve that. he explained.

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Chinas Cryptocurrency Is Closer Than Expected, Already Working On Legislation - CryptoPotato

Central Bank of Russia Reveals New Amendments to Bill on Cryptocurrency – Coin Idol

Mar 25, 2020 at 10:15 // News

The Central Bank of Russia (BoR) has shared some important statements about proposed cryptocurrency legalisation, especially on their issuance and circulation.

The new amendments to the draft of the bill on digital financial assets prepared by the Central Bank indicate that the issuance and opening of cryptocurrency selling businesses in Russia have unjustified risk. The bill provides for a prohibition on the issuing and selling of bitcoin and any other form of altcoin in the Russian Federation and brings liability for infringement of the veto.

According to this new bill, specific guidelines explain how the banking institutions can apply the presumed 375-P protocol to address illicit activities associated with digital currencies, especially money laundering. The list of rules includes 100 signs which will enable banking institutions to regard cryptoassets activities as suspicious.

The drafting of the document has not yet been completed but that wont stop the Russian banks from prohibiting any form of transactions they mark suspicious or even close particular accounts of cryptoasset operators in the country in a lawful manner, as per the forexnewsnow report.

As revealed by Alexei Guznov, head of the legal dept of the BoR, the bank has reached an accord with other government agencies and market participants that take part in the debate. That agreement might be that nobody is going to forbid owning cryptoassets including Bitcoin.

Alexei Guznov stated:

Now weve approached consensus with other government bodies and market players that participate in the discussion. That consensus might be that nobody is going to ban owning cryptocurrencies.

Guznov further noted that no one will forbid cryptocurrency calling that absurd. But the bill is more likely to negatively affect the issuance of cryptoasset as these cause an unjustified risk.

A draft law on digital financial assets was issued by the Ministry of Finances on January 20, 2018, and then brought in the State Duma on March 20, the same year. Cryptocurrencies are categorised in the bill as property and are not regarded as legal tender. The bill doesnt authorise the exchange of digital assets for Rubles or other foreign money in Russia. But the exchange of cryptocurrencies for Rubles and foreign currency is actually allowed but if and only if is done via a licensed operator(s), according to an article from the Library of Congress. Moreover, it notes that cryptocurrency holders can actually trade in jurisdictions of the countries that allow cryptocurrency trading.

Despite long research and promises to ban cryptocurrency-related businesses, so far there is no exact definition on cryptocurrency in laws or guiding books in Russia.

According to the Russian Constitution - the Ruble is the only legal means of payment in the country. And the Federal Law on the BoR of 2002 indicates that Ruble is the only recognized national currency. Thus the issuance of any other means of payment can be considered prohibited.

So far, according to the report, legalizing the issuing, selling and trading of altcoins brings an irrational risk, and that is one of the reasons why the law is trying to put an embargo on supplying and arranging cryptocurrency-related business, and also sets the penalty for breaching the restrictions.

Cryptocurrency regulation has been a major topic that has been largely discussed by financial authorities, governments and other players in the cryptocurrency industry each and every year since the advent of bitcoin.

The BoR is still pro digital financial assets and blockchain technology implementation but against cryptocurrency businesses. In December 2019 it even carried out a pilot tokenization initiative in its regulatory sandbox.

Authorities in Russia are not trying to obstruct the creation and implementation of new innovative technologies such as blockchain, internet of things, cryptocurrency, smart contracts, artificial intelligence and others. So, the bill stands more chance of being embraced by different authorities.

Back in September 2018, as Coinidol reported, Dmitry Peskov, Vladimir Putins Special Representative on Digital and Technological Development revealed the issuing and circulating of cryptocurrencies cannot yet be allowed because it conflicts with the fundamental functions of government.

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Central Bank of Russia Reveals New Amendments to Bill on Cryptocurrency - Coin Idol

Snowden warns: The surveillance states were creating now will outlast the coronavirus – The Next Web

Governments around the world are using high-tech surveillance measures to combat the coronavirus outbreak. But are they worth it?

Edward Snowden doesnt think so.

The former CIA contractor, whose leaks exposed the scale of spying programs in the US, warns that once this tech is taken out the box, it will be hard to put it back.

When we see emergency measures passed, particularly today, they tend to be sticky, Snowden said in an interview with theCopenhagen International Documentary Film Festival.

The emergency tends to be expanded. Then the authorities become comfortable with some new power. They start to like it.

Supporters of the draconian measures argue that normal rules are not enough during a pandemic and that the long-term risks can be addressed once the outbreak is contained. But a brief suspension of civil liberties can quickly be extended.

Security services will soon find new uses for the tech. And when the crisis passes, governments can impose new laws that make the emergency rules permanent and exploit them to crack down on dissent and political opposition.

Take the proposals to monitor the outbreak by tracking mobile phone location data.

This could prove a powerful method of tracing the spread of the virus and the movements of people who have it. But it will also be a tempting tool to track terrorists or any other potential enemies of the states.

Artificial intelligence has become a particularly popular way of monitoring life under the pandemic. In China, thermal scanners installed at train stations identify patients with fevers, while in Russia, facial recognition systems spot people breaking quarantine rules.

The coronavirus has even given Clearview AI a chance to repair its reputation. The controversial social media-scraping startup is in talks with governments about using its tech to track infected patients, according to the Wall Street Journal.

A big attraction of AI is its efficiency by assigning probabilities to different groups of people. But too much efficiency can be a threat to freedom, which is why we limit police powers through measures such as warrants and probable cause for arrest.

The alternative is algorithmic policing that justifies excessive force and perpetuates racial profiling.

Snowden is especially concerned about security services adding AI to all the other surveillance tech they have.

They already know what youre looking at on the internet, he said. They already know where your phone is moving. Now they know what your heart rate is, what your pulse is. What happens when they start to mix these and apply artificial intelligence to it?

Its tough to strike a balance between security and privacy at the best of times, let alone during a global crisis.

Snowden doesnt dispute the severity of the pandemic. But he believes its a transient problem that will eventually be resolved by vaccines and herd immunity.

The consequences of the measures we introduce today, however, will be permanent. Thats why the tech we deploy now must be proportionate to each phase of the outbreak.Openness from governments and consultation with the public will ensure its within the rule of law and preserves our basic human rights.

Draconian measures may be tolerable if they get us through the pandemic. But we must also think about the world we want to live in once the coronavirus is contained.

Published March 25, 2020 15:37 UTC

Read the original here:
Snowden warns: The surveillance states were creating now will outlast the coronavirus - The Next Web

Coronavirus Is The Shock, Dictatorship Is The Doctrine – The Real News Network

This is a rush transcript and may contain errors. It will be updated.

Greg Wilpert: Its The Real News Network, Im Greg Wilpert in Arlington, Virginia. Recently, thousands of Israelis posted the cover of Naomi Kleins book The Shock Doctrine on their social media accounts without further comment. They were doing so because they had sensed that the book is a warning and that its becoming a reality before their very eyes. The crisis has shocked the population and this now allows the Israeli government to push forward with draconic and undemocratic policies.

All over the world, we are seeing how governments are declaring states of emergency because of the coronavirus pandemic and are undertaking extreme measures to stop the spread of the virus. However, other than perhaps China, no country in the world has gone as far as Israel in clamping down on civil liberties. First, prime minister Netanyahu closed the courts a few days before he was supposed to appear in court himself to face charges of corruption.

Then, as the opposition tried to elect a new chairman of the Knesset, Israels parliament, the ruling coalition that no longer has a majority decided to shut down the Knesset. Next and most alarming, the government used an executive order to grant unlimited powers of surveillance to the secret police, tracking the phones of every person in Israel at all times, supposedly to keep track of infected people and to prevent them from spreading the disease and to punish them if they break the curfew.

And finally, when thousands of Israelis wanted to protest these measures, the right to assembly was denied. Even a convoy of cars, in which everyone sits in their own car and does not interact with others, was forbidden. Heres how prime minister Benjamin Netanyahu presented the measures last week.

Benjamin Netany: [foreign language 00:01:42]. The government will approve tonight executive orders for a state of emergency to allow the use of digital measures to fight the coronavirus. These measures will help us very much to find the location of the virus and the location of the sick people and thus stop the spread of the virus. We discussed it yesterday at the cabinet meeting for six hours.

[foreign language 00:02:06]. Me, and I must say, almost all No, all the ministers. We wanted to ensure a meticulous supervision of this measure to prevent misuse. The legal council accepted our request and this evening we shall authorize the use of digital tools for a limited time of 30 days. Israel is a democracy. It must keep the balance between individual rights and the collective needs and we are doing that.

Greg Wilpert: Joining me now to discuss how governments are taking advantage of the pandemic is Antony Loewenstein. He is an independent journalist and author of the book, Disaster Capitalism: Making a Killing Out of Catastrophe. Thanks for joining us again, Antony.

Antony Loewenstein: Thanks for having me.

Greg Wilpert: So, many countries that the coronavirus has hit, has hit them actually much harder than Israel, but they have not implemented such extreme measures as Israel. And so Israeli government officials argue that its precisely because of these extreme measures that Israel hasnt been hit so hard. However, there are many countries that slowed down the spread of the virus without taking such extreme measures. So the question is why Israel of all countries is reacting in such an extreme way to the coronavirus. What do you think?

Antony Loewenstein: Well theres a few reasons. I was living in Jerusalem until just recently. So I saw the beginning of this pandemic, but I left thankfully before it really accelerated or the shutdown happened, the lockdown. I think what youre seeing in Israel really is almost an inevitability. What I mean by that is for two reasons. One, Israel is a country that has spent decades occupying, monitoring, surveilling millions of Palestinians in the West Bank and Gaza and in Israel proper and that now is coming home to roost.

What I mean by that is that they are using their technology which traditionally has been used on Palestinians, now on all citizens, which obviously includes Palestinians but also Israeli Jews. And it also of course is coming at a time where theres no actual government in Israel and Netanyahu claims to be prime minister, but in fact he hasnt won three elections. It has not been a legitimate government in Israel for close to 18 months. This is the reality in Israel and a weak and divided opposition. So the use and the and the technology and the ability of the Shin Bet, the internal security services to monitor all citizens, which I have to say is being claimed as a temporary measure should worry us deeply because these measures may well be loosened in time. We dont know, but the fact is we should not be trusting A the Israeli government or the Israeli security services historically have been known to very aggressively monitor and surveil Palestinians.

So the danger, which clearly is relevant to many other countries is, if you allow your government or your state to massively surveil and monitor the other, whether its Palestinians, all Muslims, whoever it may be. That technology will inevitably used on ourselves. And I think about Edward Snowden here when he talked about, hes released in about seven years ago and he was saying that yes, the US massively surveils the world. But they also surveil the Americans because that technology inevitably is used on our own. Thats whats happening in Israel today.

Greg Wilpert: Israeli member of parliament, Ahmad Tibi once said with regard to Israels Jewish population that Israel is a democratic state and regard towards Arab population, Israel is a Jewish state. Now we are seeing the last democratic protections of the Jewish population of Israel crumbling as well. What do you think this means for the Arab Palestinians population under Israeli control, which is nearly 7 million people? Are they being affected in the same way?

Antony Loewenstein: Well even more so. I mean obviously Gaza which has been under Israeli blockade now for much more than a decade has just recently seen two cases of the coronavirus and notably more will come and the health system has been collapsed for years, so thats a real potential catastrophe on Israels doorstep. The West Bank has essentially been locked down. The West Bank is on the complete Israeli control, military control. Bethlehem and many other cities are under complete lock down. People cant move in and out, which in some ways as many Palestinians say, this is in some ways the worst time the occupation. This is what normal life for many Palestinians is like all the time. Now obviously now its very extreme to be sure, but many Palestinians in the West Bank and Gaza was saying to Israeli Jews, now you know what it often its like. Cant move from town to town. Cant send our kids to school. Cant live a daily life.

Thats not necessarily every single day. The occupation ebbs and flows in different areas depending on the particular political movement at the time, but what you see also within Israel itself where the recent election, the joint list, the third major political party received huge amounts of support mostly from Palestinians and Arabs, but also from a growing number of Israeli Jews. And its very clear that from the both major sides of Israeli Jewish politics, they have little to no interest in having any coalition with those, with that party. They express contempt and deep racism for that party, Netanyahu particularly. And I think it shows in some ways two things. One that the Palestinian Arab population in Israel proper and the West Bank and Gaza, who might not have no votes. And I think its important to say to viewers, just to be very clear, Israel is not a democracy if youre not Jewish.

There are literally 5 million Palestinians in the West Bank and Gaza roughly, who cannot vote in any elections for the Israeli Knesset for a leader who will control their lives. So to say, Israel is a democracy has always been a lie. And its certainly a democracy if you are Jewish of sorts. And also I think its important for people to realize that the joint lists growing support shows a growing divide within Israeli society itself, where I think many Israeli Arabs and a growing number of Israeli Jews realized that a Zionist political movement, by definition cannot and will not bring democracy to all its citizens. It simply wants democracy for Jews only.

And although the joint list will not be in government, the joint list politically will have not huge amounts of power. Symbolically, its unbelievably powerful and theyll continue to grow as more and more people realize that Netanyahu although he could or even his main rival Benny Gantz is basically Netanyahu in drag. Theyre virtually exactly the same on the key issue of the occupation. Thats what really matters here, which is why the joint lists support and growing support. It is so important.

Greg Wilpert: I wonder though, based on what you just said, if perhaps this crackdown in light of the coronavirus might produce a silver lining in the sense that as you said, its awakening Israelis to the conditions of occupation. Obviously its not as serious as the occupation, but at least theyre getting some degree of taste of it and perhaps that might change their attitude towards it. What do you think?

Antony Loewenstein: If only that was true. Look, maybe, and I guess we should talk in three or six months to see, but as Gideon Levy, the great journalist for Arabs. The Israeli newspaper said in a column recently. Yes, Israeli Jews and now on the lockdown, but its nothing like what Palestinians go through. Israeli Jews and not being raided in their houses, theyre not being dragged from their homes, theyre not being shot dead in the streets for protesting. Yes, theyre not being allowed to protest, but theyre not being shot dead for protesting. So yes, Israeli Jews maybe have a tiny taste of what Palestinians in the West Bank and Gaza goes through. But I think sadly, having lived in Jerusalem, East Jerusalem for many, many years, what you really see over time is a hardening of hearts. And what I mean by that is that there is little to no empathy by the majority of Israeli Jews towards what is happening down the road in the occupation.

Now Im not saying old Jews in Israel, Im saying the majority of Jews. And you know that because most of them dont talk about it. Dont write about it. Dont vote in any way that reflects that theyre upset about it. And the media, to its eternal shame only really reports on the West Bank and Gaza with a few notable exceptions in the context of a security threat. There are not stories generally about what life is actually like in the occupation down the road from Israel. So Id like to think that this would maybe make Israeli Jews more reflective of the kind of regime theyve created for Arabs on their doorstep and therefore be more sympathetic towards them. But the evidence so far for that is quite minimal. And I hope that changes, but I not that optimistic.

Greg Wilpert: Now, turning to the larger picture, both your book Disaster Capitalism and Naomi Kleins The Shock Doctrine, argue that disasters or shocks are unpopular policies that the government hopes to impose when people are in shock or facing disasters and cannot properly resist. Now do you think that Israel is perhaps the proverbial canary in the coal mine and that other countries may also start surveilling the population and shutting down political dissent all in the name of fighting the coronavirus?

Antony Loewenstein: Well, the short answer is yes. I feel that a great deal and one of the things that Im really worried about at the moment and something Im looking into is Israel has perfected the art of the ethno state. The ethno state being of course a Jewish state that dominates non Jews and to the use of technology and surveillance often through public but also private companies for decades. Theyve mastered from their perspective an ability to control millions of Palestinians. That technology and that ideology is now being exported globally. Think of what India wants to do in Kashmir, Sri Lanka in the Tamil areas in the North. China in parts of the weaker areas. And thats not all because of Israel to be sure, but Israel provides both an inspiration ideologically, but also the ease of technology and surveillance. And the fear that I have is that although the coronavirus will at some point taper down or minimize six months, three months, a year, we dont know. Soon, it wont be forever.

But the fear is that therell be an appeal by many governments to maintain either tight controls and the monitoring of civilians and citizens without reducing them. And Israel in some ways is the model of that because Israel has done it for decades and they get away with it. Now, yes that monitoring is principally of Palestinians. But as were seeing now, its inevitably turning to Israeli Jews as well. And lets be honest, after Edward Snowdens revelations in 2013. In the US there were protests and there were minor changes through Congress. Were there hundreds of thousands of people marching through the streets in the US opposing what was happening? No. Snowdens documents revealed clearly that the US had an apparatus, both Republican and Democrat, to monitor and surveil every single citizen. And yes, some people were upset about that and they protested. But in general, thats continued. And I would argue different and we dont even really know whats happening during the Trump administration in terms of that. Theres been not that much reporting or leaks about what Trump has been doing in terms of messily ramping up internal state surveillance.

So Im really concerned as someone whos written for a decade now about disaster capitalism, apart from the obvious examples of people trying to charge more for hand sanitizer and face mask, which is terrible and that should be condemned. But the bigger picture here is what this means longer term. The States that are very keen not just to make money from it, but this one real quick example. The NSO group, which is an Israeli surveillance company that was used by Saudi Arabia to monitor friends of Jamal Khashoggi recently, last couple of years. Its a surveillance company which is populated by former Israeli military. Theyve been announcing the last while technology to help so they say, fight the coronavirus. Now this technology may well be helpful. We dont know at this stage, but my point is that you have this really worrying blending of the surveillance state and surveillance companies with people who claim to be helping those in society.

And yes, we need to fight the coronavirus and stop it or at least massively arrest its increase. But Im really concerned that there are going to be a lot of private companies, private military companies, surveillance companies, technology companies, utilizing this opportunity to say to a state we can help keep out unwanted people. That could be high walls or borders or surveillance. And were seeing that in much of Europe now as well for that matter. So the fear is that many governments that are utilizing this technology, I call these Israelification almost of the world. And although theres push back against that in certain places, its not a given that itll happen. I think there needs to be a lot more discussion and push back against it because otherwise it becomes business as normal and that is not the society I think that most people want to live in.

Greg Wilpert: Well on that note, unfortunately, were going to have to leave it there. I was speaking to Antony Loewenstein journalist and author of the book Disaster Capitalism. Thanks again, Antony, for having joined us today.

Antony Loewenstein: Thanks for having me, Greg,

Greg Wilpert: And thank you for joining The Real News Network.

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Coronavirus Is The Shock, Dictatorship Is The Doctrine - The Real News Network

The story behind that little padlock in your browser – Horizon magazine

Behind that little padlock is cryptographic code that guarantees the security of data passing between you and, for example, the website you are looking at.

In fact, TLS guarantees security on three fronts: authentication, encryption and integrity. Authentication, so that your data goes where you think it is going; encryption, so that it does not go anywhere else; and integrity, so that it is not tampered with en route.

Its the most popular security protocol on the internet, securing essentially every e-commerce transaction, Eric Rescorla, chief technology officer at US technology company Mozilla, told Horizon over email.

In the two decades leading up to 2018, there were five overhauls of TLS to keep pace with the sophistication of online attacks. After that, many experts believed that the latest incarnation, TLS1.2, was safe enough for the foreseeable future,until researchers such as Dr Karthikeyan Bhargavan and his colleagues at the French National Institute for Research in Digital Science and Technology (INRIA) in Paris came along.

Scaffold

As part of a project called CRYSP, the researchers had been working on ways to improve the security of software applications. Usually, software developers rely on TLS like a builder relies on a scaffold in other words, they take its safety for granted.

To improve security at the software level, however, Dr Bhargavan and colleagues had to thoroughly check that the underlying assumptions about TLS1.2 that it had no serious flaws were justified.

At some point, we realised they werent, he said.

After discovering some shaky lines of code, the researchers worked with Microsoft Research and took on the role of hackers, performing some simulated attacks on the protocol to test the extent of its vulnerability. The attacks revealed that it was possible to be a man in the middle between an internet user and a service provider, such as Google, and thereby steal that users data.

It would have to be a fairly complex sequence of actions, explained Dr Bhargavan. Typically, the person in the middle would have to send weird messages to each actor to lure them into a buggy part of the code.

If, as the person in the middle, I was successful, I could potentially steal someones payment details, he continued. Or I could pretend to be Apple or Google, and download (insert) malware via a software update to get access to peoples computers.

Serious threat

Such a hacker would need great expertise and computational power, that of a government agency, for example, as well as access to some of the physical infrastructure close to the key actors. Nevertheless, the Internet Engineering Task Force (IETF), an international organisation promoting internet standards, judged the threat to be sufficiently serious to warrant a new version of the cryptographic protocol.

Dr Bhargavan points out that he was far from the only computer scientist to prompt the revision. There were four or five other research groups unearthing problems with the current protocol, pushing one another along, he says, in a healthy rivalry.

Still, he says that his group discovered some of the most surprising flaws in TLS1.2, which he believes may have been the final nails in the coffin for the protocol.

His group was also part of a broad collaboration within the internet community, overseen by an IETF working group, to construct the more secure, and man-in-the-middle-proof successor that is TLS 1.3, using modern algorithms and techniques. Dr Bhargavan was a key player in that effort, said Rescorla who oversaw TLS at the IETF at the time of the work.

TLS 1.3 was officially launched in August 2018. Since then it has been implemented by major internet browsers such as Mozilla Firefox and Google Chrome.

So long as you click that padlock you have some confidence about safety.

Dr Karthikeyan Bhargavan, INRIA, France

So how much safer are internet users as a result?

Human error

It is true that for most online security breaches, TLS is not to blame. Usually, personal data gets into the wrong hands because of bugs in software what Dr Bhargavans group was working on to begin with or human error.

But Dr Bhargavan believes there is reassurance in knowing that the underlying protocol is secure. Its not everything, but so long as you click that padlock you have some confidence about safety its the most basic thing, he said.

Besides, internet users are not only worried about hackers. Since 2013, and the leaks of Edward Snowden, a former employee of a US National Security Agency contractor, many people are concerned about the amount of personal data amassed by state intelligence and large enterprises.

Designed with the Snowden revelations in mind, TLS 1.3 closes the door to some types of this pervasive network-based monitoring through its encryption of both user data and metadata. It also prevents retrospective decryption one of the previous versions weaknesses.

There was a long discussion in the IETF working group about whether preventing surveillance was one of the goals of TLS, says Dr Bhargavan. And the answer was ultimately in the positive, he said.

Now Dr Bhargavan is returning to the issue of software security. He believes the majority of remaining vulnerabilities can be eliminated at the design stage.

Verified

To do this, he and his colleagues are constructing a library, HACL*, of fully verified cryptographic code, which other developers can draw on when building new software. In this project, known as CIRCUS, they are also creating an easy-to-follow reference paradigm that tells developers how to put software together without introducing security glitches.

The resultant high-assurance software has already been taken up by developers at Mozilla and Microsoft, among others. We want everyone to be following these techniques, Dr Bhargavan said.

Ultimately, his goal is not to secure everything online, but to find the safest spots within our highly complex computer systems. I dont think we will ever get to a point where everything is verified, he said, but we can find the most secure basket in which we can put our keys and passwords and financial data.

The research in this article was funded by the European Research Council. Dr Bhargavan is a recipient of a 2019 Horizon Impact Award for societal impact across Europe and beyond.

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The story behind that little padlock in your browser - Horizon magazine

Classic Review: The Prescient Spy Antics of Sneakers – Fordham Ram

Erica Weidner, Copy ChiefMarch 25, 2020

I watched Sneakers with my parents when I was about 11 or 12 years old. I absolutely loved it: the action sequences, the humorous tone, the clever tricks. The movie, which came out in 1992, immediately shot to the top of my favorites list. Although Sneakers has been shaken from the number one spot, its remained on my top ten list ever since.

This spring break, I decided to rewatch Sneakers to answer the question: Does my childhood favorite movie stand the test of time?

The answer: Yes, it absolutely does.

Sneakers opens in a flashback to 1969. Two college students, Martin Brice (Robert Redford) and Cosmo (Ben Kingsley), are using their hacking skills to play pranks. Despite their humorous attitude, these pranks such as transferring every cent in Richard Nixons bank account to the National Association to Legalize Marijuana are extremely illegal. The police catch Cosmo, but Martin avoids the cops by sheer dumb luck.

Fast-forward to the present day (1992, that is). Martin Brice has rebranded himself as Martin Bishop. Hes built a new life for himself as a security specialist: someone who breaks into banks so that those banks can improve their defenses. Martin leads an all-star team of hackers and sneakers.

Crease (Sidney Poitier) is a former CIA agent whos never quite lost his sense of paranoia or his sense of national duty. Creases foil is Mother (Dan Aykroyd) who will ramble about conspiracy theories to anyone who will listen. Theres also Carl (River Phoenix), a young hacker more interested in girls than in money, and Liz (Mary McDonnell), an ex-girlfriend of Martin who finds herself back in the madness. Rounding out the team is Whistler (David Strathairn). Whistler is blind, but his keen sense of hearing makes him invaluable to any mission.

However, no matter how well this team does, Martins past still comes back to haunt him. His college crimes become blackmail material, and the team gets embroiled in a conspiracy of epic proportions, involving the Russians, the NSA and other spooks.

The movie came out almost 30 years ago, and I still cant bring myself to spoil it for you. Like every spy movie, Sneakers has its fair share of twists and crosses, and like every heist movie, it has its own uniquely convoluted plans. Itd be wrong to ruin those moments, even if were well after the two-week spoiler grace period.

Calling Sneakers a simple spy movie or a heist movie seems like an injustice. Its wildly funny, which is both due to its writing and its cast. The wisecracks that the characters bounce off one another are not only wittily worded but beautifully executed. Some of the funniest moments in this movie focus on the tension between Mother, who believes every conspiracy theory, and Crease, who believes none of them. Aykroyds Mother is lovably petulant in sharing his conspiracies, while Poitiers Crease is amusingly annoyed by his antics; together, they are on fire. Comedy also adds in some more subtle touches, such as Whistler reading a Playboy magazine written in Braille.

Sneakers also has its moments of clarity, where a fun, silly spy movie hits on a deep vein of truth. In a way, the film seems to be ahead of its time. For instance, throughout the movie, theres a direct implication that the NSA is spying on American citizens. Everyone on the sneakers team believes this, and even the NSA agents dont deny it. Edward Snowden confirmed this implication just over 20 years later.

This isnt the only time that the movie looks toward the future. Near the end of Sneakers, the films ultimate antagonist tries to explain how technology has transformed the way we think of the world. As he puts it, Its not about whos got the most bullets. Its about who controls the information. These words rang true when the movie premiered, but today they seem more relevant than ever. Our world is run by data.

Sure, there are times that Sneakers shows its age. Characters laugh at the concept of meeting a date online, which they call compu-dating and in 1992, that concept was laughable. (Today, its one of the most popular ways that couples meet.) The campy soundtrack, characterized by melodramatic piano music, also dates this movie in the 90s.

However, these are small complaints that shouldnt negate how well Sneakers stands the test of time. The movie hasnt lost its excitement or its sense of humor its just as fun to watch now as it was in the past. Amazingly, it also hasnt lost its relevance. For better or for worse, hackers and spies are just as important in 2020 as they were in 1992. The technology they use may have changed, but the reasons have not.

Sneakers holds up, and its cemented its place on my favorites list.

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Classic Review: The Prescient Spy Antics of Sneakers - Fordham Ram

Rakuten Joins the Open Invention Network Community – GlobeNewswire

Durham, N.C., March 25, 2020 (GLOBE NEWSWIRE) -- Open Invention Network (OIN), the largest patent non-aggression community in history, announced today that Rakuten, Inc. has joined as a community member. Rakuten is a global leader in internet services, offering over 70 services in e-commerce, fintech, digital content and communications. In addition, Rakuten is pursuing an ambitious new network build out to become the worlds first end-to-end fully virtualized, cloud-native mobile network, using open source mobile carrier architecture to drive its $600 billion investment. By joining OIN, Rakuten is demonstrating its commitment to open source software (OSS) as a foundation for its platforms.

The online commerce, mobile communications, and fintech services industries are experiencing rapid growth. Global leaders that recognize these market opportunities, and the benefits of shared innovation inherent in open source, are building robust, feature-rich services that help make them more desirable to consumers, said Keith Bergelt, CEO of Open Invention Network. We are pleased that Rakuten has joined our community and committed to patent non-aggression in Linux and adjacent open source technologies.

At Rakuten, our businesses continue to evolve as we address new market opportunities. Because of this, we are a user and strong advocate of open source software, said Tareq Amin, CAO, Group Executive Vice President, Rakuten, Inc. We are building the first 100% fully virtualized mobile network, enabling us to scale rapidly and offer the best quality-of-service (QoS) available. By joining Open Invention Network, we are demonstrating our commitment to open source software, and supporting it with a pledge of patent non-aggression.

OINs community practices patent non-aggression in core Linux and adjacent open source technologies by cross-licensing Linux System patents to one another on a royalty-free basis. Patents owned by Open Invention Network are similarly licensed royalty-free to any organization that agrees not to assert its patents against the Linux System. The OIN license can be signed online at http://www.j-oin.net/.

About RakutenRakuten, Inc. (TSE: 4755) is a global leader in Internet services that empower individuals, communities, businesses and society. Founded in Tokyo in 1997 as an online marketplace, Rakuten has expanded to offer services in e-commerce, fintech, digital content and communications to about 1.4 billion members around the world. The Rakuten Group has over 20,000 employees, and operations in 30 countries and regions. For more information visithttps://global.rakuten.com/corp/.

About Open Invention NetworkOpen Invention Network (OIN) is the largest patent non-aggression community in history and supports freedom of action in Linux as a key element of open source software (OSS). Patent non-aggression in core technologies is a cultural norm within OSS, so that the litmus test for authentic behavior in the OSS community includes OIN membership. Funded by Google, IBM, NEC, Philips, Sony, SUSE and Toyota, OIN has more than 3,200 community members and owns more than 1,300 global patents and applications. The OIN patent license and member cross-licenses are available royalty-free to any party that joins the OIN community.

For more information, visit http://www.openinventionnetwork.com.

Media-Only Contact:Ed SchauwekerAVID Public Relations for Open Invention Networked@avidpr.com +1 (703) 963-5238

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Rakuten Joins the Open Invention Network Community - GlobeNewswire

Will COVID-19 Create a Big Moment for AI and Machine Learning? – Dice Insights

COVID-19 will change how the majority of us live and work, at least in the short term. Its also creating a challenge for tech companies such as Facebook, Twitter and Google that ordinarily rely on lots and lots of human labor to moderate content. Are A.I. and machine learning advanced enough to help these firms handle the disruption?

First, its worth noting that, although Facebook has instituted a sweeping work-from-home policy in order to protect its workers (along with Googleand a rising number of other firms), it initially required its contractors who moderate content to continue to come into the office. That situation only changed after protests,according toThe Intercept.

Now, Facebook is paying those contractors while they sit at home, since the nature of their work (scanning peoples posts for content that violates Facebooks terms of service) is extremely privacy-sensitive. Heres Facebooks statement:

For both our full-time employees and contract workforce there is some work that cannot be done from home due to safety, privacy and legal reasons. We have taken precautions to protect our workers by cutting down the number of people in any given office, implementing recommended work from home globally, physically spreading people out at any given office and doing additional cleaning. Given the rapidly evolving public health concerns, we are taking additional steps to protect our teams and will be working with our partners over the course of this week to send all contract workers who perform content review home, until further notice. Well ensure that all workers are paid during this time.

Facebook, Twitter, Reddit, and other companies are in the same proverbial boat: Theres an increasing need to police their respective platforms, if only to eliminate fake news about COVID-19, but the workers who handle such tasks cant necessarily do so from home, especially on their personal laptops. The potential solution? Artificial intelligence (A.I.) and machine-learning algorithms meant to scan questionable content and make a decision about whether to eliminate it.

HeresGoogles statement on the matter, via its YouTube Creator Blog.

Our Community Guidelines enforcement today is based on a combination of people and technology: Machine learning helps detect potentially harmful content and then sends it to human reviewers for assessment. As a result of the new measures were taking, we will temporarily start relying more on technology to help with some of the work normally done by reviewers. This means automated systems will start removing some content without human review, so we can continue to act quickly to remove violative content and protect our ecosystem, while we have workplace protections in place.

To be fair, the tech industry has been heading in this direction for some time. Relying on armies of human beings to read through every piece of content on the web is expensive, time-consuming, and prone to error. But A.I. and machine learning are still nascent, despite the hype. Google itself, in the aforementioned blog posting, pointed out how its automated systems may flag the wrong videos. Facebook is also receiving criticism that its automated anti-spam system is whacking the wrong posts, including those thatoffer vital information on the spread of COVID-19.

If the COVID-19 crisis drags on, though, more companies will no doubt turn to automation as a potential solution to disruptions in their workflow and other processes. That will force a steep learning curve; again and again, the rollout of A.I. platforms has demonstrated that, while the potential of the technology is there, implementation is often a rough and expensive processjust look at Google Duplex.

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Nonetheless, an aggressive embrace of A.I. will also create more opportunities for those technologists who have mastered A.I. and machine-learning skills of any sort; these folks may find themselves tasked with figuring out how to automate core processes in order to keep businesses running.

Before the virus emerged, BurningGlass (which analyzes millions of job postings from across the U.S.), estimated that jobs that involve A.I. would grow 40.1 percent over the next decade. That percentage could rise even higher if the crisis fundamentally alters how people across the world live and work. (The median salary for these positions is $105,007; for those with a PhD, it drifts up to $112,300.)

If youre trapped at home and have some time to learn a little bit more about A.I., it could be worth your time to explore online learning resources. For instance, theres aGooglecrash coursein machine learning. Hacker Noonalso offers an interesting breakdown ofmachine learningandartificial intelligence.Then theres Bloombergs Foundations of Machine Learning,a free online coursethat teaches advanced concepts such as optimization and kernel methods.

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Will COVID-19 Create a Big Moment for AI and Machine Learning? - Dice Insights

Machine Learning Engineer Interview Questions: What You Need to Know – Dice Insights

Along with artificial intelligence (A.I.), machine learning is regarded as one of the most in-demand areas for tech employment at the moment. Machine learning engineers develop algorithms and models that can adapt and learn from data. As a result, those who thrive in this discipline are generally skilled not only in computer science and programming, but also statistics, data science, deep learning, and problem solving.

According to Burning Glass, which collects and analyzes millions of job postings from across the country, the prospects for machine learning as an employer-desirable skill are quite good, with jobs projected to rise 36.5 percent over the next decade. Moreover, even those with relatively little machine-learning experience can pull down quite a solid median salary:

Dice Insights spoke with Oliver Sulley, director of Edge Tech Headhunters, to figure out how you should prepare, what youll be asked during an interviewand what you should say to grab the gig.

Youre going to be faced potentially by bosses who dont necessarily know what it is that youre doing, or dont understand ML and have just been [told] they need to get it in the business, Sulley said. Theyre being told by the transformation guys that they need to bring it on board.

As he explained, that means one of the key challenges facing machine learning engineers is determining what technology would be most beneficial to the employer, and being able to work as a cohesive team that may have been put together on very short notice.

What a lot of companies are looking to do is take data theyve collected and stored, and try and get them to build some sort of model that helps them predict what they can be doing in the future, Sulley said. For example, how to make their stock leaner, or predicting trends that could come up over they year that would change their need for services that they offer.

Sulley notes that machine learning engineers are in rarified air at themomentits a high-demand position, and lots of companies are eager to show theyve brought machine learning specialists onboard.

If theyre confident on their skills, then a lot of the time they have to make sure the role is right for them, Sulley said. Its more about the soft skills that are going to be important.

Many machine learning engineers are strong on the technical side, but they often have to interact with teams such as operations; as such, they need to be able to translate technical specifics into laymans terms and express how this data is going to benefit other areas of the company.

Building those soft skills, and making sure people understand how you will work in a team, is just as important at this moment in time, Sulley added.

There are quite a few different roles for machine learning engineers, and so its likely that all these questions could come upbut it will depend on the position. We find questions with more practical experience are more common, and therefore will ask questions related to past work and the individual contributions engineers have made, Sulley said.

For example:

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A lot of data engineering and machine learning roles involve working with different tech stacks, so its hard to nail down a hard and fast set of skills, as much depends on the company youre interviewing with.(If youre just starting out with machine learning, here are some resources that could prove useful.)

For example, if its a cloud based-role, a machine learning engineer is going to want to have experience with AWS and Azure; and for languages alone, Python and R are the most important, because thats what we see more and more in machine learning engineering, Sulley said. For deployment, Id say Docker, but it really depends on the persons background and what theyre looking to get into.

Sulley said ideal machine learning candidates posses a really analytical mind, as well as a passion for thinking about the world in terms of statistics.

Someone who can connect the dots and has a statistical mind, someone who has a head for numbers and who is interested in that outside of work, rather than someone who just considers it their job and what they do, he said.

As you can see from the following Burning Glass data, quite a few jobs now ask for machine-learning skills; if not essential, theyre often a nice to have for many employers that are thinking ahead.

Sulley suggests the questions you ask should be all about the technologyits about understanding what the companies are looking to build, what their vision is (and your potential contribution to it), and looking to see where your career will grow within that company.

You want to figure out whether youll have a clear progression forward, he said. From that, you will understand how much work theyre going to do with you. Find out what theyre really excited about, and that will help you figure out whether youll be a valued member of the team. Its a really exciting space, and they should be excited by the opportunities that come with bringing you onboard.

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Machine Learning Engineer Interview Questions: What You Need to Know - Dice Insights