Daily Archives: December 21, 2020

Waveland, Mississippi – Wikipedia

Posted: December 21, 2020 at 11:49 am

City in Mississippi, United States

Waveland is a city located in Hancock County, Mississippi, United States, on the Gulf of Mexico. It is part of the GulfportBiloxi, Mississippi Metropolitan Statistical Area. The city of Waveland was incorporated in 1972. As of the 2010 census, the city had a population of 6,435.[4] Waveland was nearly destroyed by Hurricane Camille on August 17, 1969, and by Hurricane Katrina on August 29, 2005.

The current mayor of Waveland is Mike Smith.[5]

Andrew Jackson once lived and owned land in Waveland on what is now known as Jackson Ridge.[6] Much of Jackson Ridge later became Buccaneer State Park.[7]

The Silver Slipper Casino opened on November 9, 2006.

On August 17, 1969, Hurricane Camille made landfall at the tip of Louisiana before continuing on shore at Waveland. The storm heavily damaged the areas south of the Louisville and Nashville Railroad. Recovery efforts went on for nearly a decade. The town later erected a plaque commemorating the efforts of the volunteers who committed time and resources towards rebuilding.

The city of Waveland was "ground zero" of Hurricane Katrina's landfall on August 29, 2005. The city received massive damage and is still in the process of recovering and rebuilding. South of the CSXT mainline, the area was almost completely destroyed. The rest of the city took heavy flooding. In a news report, state officials said Waveland took a harder hit from the wind and water than any other town along the Gulf Coast, and that the town was obliterated. 36 years earlier, in 1969, Waveland had been severely damaged by Hurricane Camille.[8]

Official reports stated that approximately 50 people died when Waveland was hit directly by the eyewall of Katrina and the 26-foot (7.9m) storm surge. Hurricane Katrina came ashore during the high tide of 8:01am, +2.2 feet more.[9]

Hurricane Katrina damaged over 40 Mississippi libraries, gutting the Waveland Public Library, as a total loss, requiring a complete rebuild.[10]

A group of social activists seeking to better the lives of local residents, called the "Rainbow Family", arrived in Waveland soon after Hurricane Katrina. From early September to early December 2005, they ran the "New Waveland Cafe & Clinic"[11][12] in the parking lot of Fred's Dept Store on Highway 90. The caf provided free hot meals three times a day. The clinic was staffed by volunteer doctors and nurses from throughout the United States who saw over 5,000 patients during the duration, free of charge and dispensing free medications. Donations of medications and supplies came from a multitude of sources, with International Aid[13] arranging the most donations. This was the first experience of the counter-culture Rainbow Family in running a disaster relief center. The Bastrop Christian Outreach Center also volunteered with the Rainbow Family.

Waveland Elementary School, which has served public school students in Grades K-3 (Grades 4-5 attend Second Street Elementary in nearby Bay St. Louis), was heavily damaged by Katrina. The students attending the school were educated in portable classrooms for the beginning of the 20062007 school year, pending a permanent solution.[14]

The recovery of Waveland was due in part to the faith-based disaster recovery effort in and around the Waveland area. Shoreline Park Baptist Church in Waveland and Pastor Ed Murphy were vital to this effort, housing and feeding hundreds of missionaries from around the country for many years following Hurricane Katrina in what were referred to as "Pods for God". Shoreline Park Baptist Church directed the repair and, in some instances, the rebuilding of homes in the area for many years after the devastation.[15][16]

Waveland is in southeastern Hancock County along the shore of Mississippi Sound, an embayment of the Gulf of Mexico. It is bordered to the north and northeast by the city of Bay St. Louis. U.S. Route 90 passes through the northern side of the city, leading east across the Bay of Saint Louis 18 miles (29km) to Gulfport and west 55 miles (89km) to New Orleans.

According to the U.S. Census Bureau, Waveland has a total area of 8.6 square miles (22.4km2), of which 8.5 square miles (22.0km2) are land and 0.2 square miles (0.4km2), or 1.66%, are water.[4]

As of the census[18] of 2000, there were 6,674 people, 2,731 households, and 1,783 families residing in the city. The population density was 980.2 people per square mile (378.4/km2). There were 3,442 housing units at an average density of 505.5 per square mile (195.1/km2). The racial makeup of the city was 85.38% White, 11.21% African American, 0.49% Native American, 1.50% Asian, 0.03% Pacific Islander, 0.49% from other races, and 0.90% from two or more races. 2.02% of the population were Hispanic or Latino of any race.

There were 2,731 households, out of which 31.4% had children under the age of 18 living with them, 46.6% were married couples living together, 14.8% had a female householder with no husband present, and 34.7% were non-families. 29.1% of all households were made up of individuals, and 11.7% had someone living alone who was 65 years of age or older. The average household size was 2.43 and the average family size was 3.01.

In the city, the population was spread out, with 26.0% under the age of 18, 7.5% from 18 to 24, 28.3% from 25 to 44, 23.9% from 45 to 64, and 14.2% who were 65 years of age or older. The median age was 38 years. For every 100 females, there were 89.9 males. For every 100 females age 18 and over, there were 84.3 males.

The median income for a household in the city was $33,304, and the median income for a family was $38,438. Males had a median income of $29,762 versus $21,694 for females. The per capita income for the city was $16,413. 13.7% of the population and 11.6% of families were below the poverty line. Out of the total population, 15.6% of those under the age of 18 and 11.7% of those 65 and older were living below the poverty line.

Waveland is served by the Bay St. Louis-Waveland School District.

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Waveland, Mississippi - Wikipedia

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Leading Technology Advisory Firm ISG Recognizes Unisys as Global Leader in Public Cloud Solutions and Services – PRNewswire

Posted: at 11:49 am

BLUE BELL, Pa., Dec. 21, 2020 /PRNewswire/ --Unisys Corporation (NYSE: UIS) today announced that leading global technology research and advisory firm Information Services Group (ISG) has recognized the company as a leader in public-cloud solutions and services in its quadrant reports on the U.S., UK and Brazil.

The ISG Provider Lens "Public Cloud Solutions and Services 2020" report, published in the fourth quarter, summarizes the relative capabilities of public-cloud services providers. Positioning of providers is based on quantitative data and comprises survey data collected directly from providers, ISG internal data and/or data obtained through secondary research.

ISG singles out the Unisys cloud managed-service offering for secure digital transformation and cloud operations as a key strength in service delivery in each quadrant report, stating: "CloudForte is at the core of its cloud services offering, providing a comprehensive delivery model that leverages automation, AI and best practices."

In the U.S., ISG ranks Unisys as a "Leader" in: Managed Public Cloud Services for Mid-market and in Consulting and Transformational Services for Mid-market. The following are among the Unisys strengths the report cites:

ISG also named Unisys a Product Challenger in Managed Public Cloud Services for Large Accounts and in Consulting and Transformational Services for Large Accounts in the U.S.

In the UK, ISG ranked Unisys as a leader in Managed Public Cloud Services for Mid-Market. It also named Unisys s a Product Challenger in U.K. for Managed Public Cloud Services for Large Accounts, Consulting and Transformational Services for Mid-Market and Large Accounts. In France and Germany, ISG ranked Unisys as a Product Challenger in Managed Public Cloud Services for Large Accounts and in France as a Product Challenger in Consulting and Transformational Services for Large Accounts.

The Brazil report named Unisys as a leader in Consulting and Transformational Services for Large Accounts. Unisys also received the one Rising Star ranking in the report for Managed Public Cloud Services for Large Accounts.

"We are honored to be recognized by one of the leading global technology research and advisory firms for our cloud solutions and our Leader position confirms how our reputation and experience in cloud have grown dramatically over the past three years," said Eric Hutto, president and chief operating officer, Unisys. "Our commitment to delivering end-to-end hybrid-cloud solutions to our clients especially during these unprecedented times helps our clients transform their business processes so they can provide their customers with the best experiences."

To learn more on this research and why ISG recognizes Unisys as a Leader, click here.

About UnisysUnisys is a global IT services company that delivers successful outcomes for the most demanding businesses and governments. Unisys offerings include digital workplace services, cloud and infrastructure services and software operating environments for high-intensity enterprise computing. Unisys integrates security into all of its solutions. For more information on how Unisys delivers for its clients across the government, financial services and commercial markets, visit http://www.unisys.com.

Follow Unisys on Twitter andLinkedIn.

RELEASE NO.: 1221/9809

Unisys and other Unisys products and services mentioned herein, as well as their respective logos, are trademarks or registered trademarks of Unisys Corporation.Any other brand or product referenced herein is acknowledged to be a trademark or registered trademark of its respective holder.

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Are AI and job automation good for society? Globally, views are mixed – Pew Research Center

Posted: at 11:49 am

As artificial intelligence (AI) plays a growing role in the everyday lives of people around the world, views on AIs impact on society are mixed across 20 global publics, according to a recent Pew Research Center survey.

This analysis is based on a survey conducted across 20 publics from October 2019 to March 2020 across Europe, Russia, the Americas and the Asia-Pacific region. The surveys were conducted by face-to-face interviews in Russia, Poland, the Czech Republic, India and Brazil. In all other places, the surveys were conducted by telephone. All surveys were conducted with representative samples of adults ages 18 and older in each survey public.

Here are the questions used for the report, along with responses, and its methodology.

A median of about half (53%) say the development of artificial intelligence, or the use of computer systems designed to imitate human behaviors, has been a good thing for society, while 33% say it has been a bad thing.

Opinions are also divided on another major technological development: using robots to automate many jobs humans have done in the past. A median of 48% say job automation has been a good thing, while 42% say its had a negative impact on society.

The survey conducted in late 2019 and early 2020 in 20 places across Europe, the Asia-Pacific region, and in the United States, Canada, Brazil and Russia comes as automation has remade workplaces around the world and AI increasingly powers things from social media algorithms to technology in cars and everyday appliances.

Views of AI are generally positive among the Asian publics surveyed: About two-thirds or more in Singapore (72%), South Korea (69%), India (67%), Taiwan (66%) and Japan (65%) say AI has been a good thing for society. Many places in Asia have emerged as world leaders in AI.

Most other places surveyed fall short of a majority saying AI has been good for society. In France, for example, views are particularly negative: Just 37% say AI has been good for society, compared with 47% who say it has been bad for society. In the U.S. and UK, about as many say it has been a good thing for society as a bad thing. By contrast, Sweden and Spain are among a handful of places outside of the Asia-Pacific region where a majority (60%) views AI in a positive light.

As with AI, Asian publics surveyed stand out for their relatively positive views of the impact of job automation. Many Asian publics have made major strides in the development of robotics and AI. The South Korean and Singaporean manufacturing industries, for instance, have the highest and second highest robot density of anywhere in the world. Singapore is also pursuing its goal of becoming the worlds first smart nation, and the government has identified AI as one of many key development areas necessary to reach that goal. Japan has also long been a world leader in robotics manufacturing and development, and robots and AI are increasingly integrated into everyday life there to help with tasks ranging from household chores to elder care.

Men are significantly more likely than women to say artificial intelligence has been a good thing for society in 15 of the 20 places surveyed. In Japan, for example, nearly three-quarters of men (73%) have positive views of AI, compared with 56% of women. In the U.S., 53% of men say AI has been a positive thing, compared with 40% of women.

People with more education are also more likely to have a positive view of AI. This gap is largest in the Netherlands, where a majority of those with a college education or higher (61%) see AI favorably, compared with 43% of those with less education. In the 11 publics where age is a significant factor in views of AI, younger people usually have a more positive view of the technology than older people.

There are similar patterns by gender and education in views of job automation. The educational differences are particularly large in some places: In Italy, for instance, about two-thirds of people with at least a college education (65%) say job automation has been a good thing for society, compared with just 38% of people with less education. Among adults with more education, those who took three or more science courses tend to see job automation more positively than people who took fewer science classes.

Note: Here are the questions used for the report, along with responses, and its methodology.

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Crypto Long & Short: Bitcoin Is More Than a Hedge Against Inflation Its a Hedge Against Crazy – Yahoo Finance

Posted: at 11:49 am

As the year that felt like a decade on speed starts to draw to a welcome close, some of us are starting to try to make sense of the timeline of narratives and events. Most of us (myself included) are failing. And that in itselfis an intriguing narrative, that sheds light on bitcoins rally.

Bear with me while I try to explain.

On the one hand, we have a rapid rise in the bitcoin price, and coalescing institutional support from traditional investors and companies that see potential in crypto assets and markets.

Related: First Mover: As Markets Turn Ugly, Bitcoiners Thank Secular Trend

On the other hand, we have conflicting economic and social trends. We have blind faith in the power of vaccines combined with rejection of the science of virus transmission; monetary policy designed to encourage lending combined with banks that are unwilling to do so; growing interest in the value of emerging markets combined with escalating risk of default; widening inequality combined with greater power of protest; I could go on.

These conflicting forces and the uncertainty swirling around them should encourage us to look closely at prevailing narratives. Yet, those of us watching the growing institutional interest in bitcoin markets have accepted without question the assumption that bitcoins inflation hedge qualities are behind it.

Lets pick that apart.

First, lets look at another pair of conflicting economic trends.

Related: Blockchain Bites: The Fight for Private, Digital Cash

Most economists seem to believe that a resurgence of inflation is unlikely. Depressed consumption and excess supply, the continuing impact of technology and demographic shifts, the low velocity of money and the weak labor market are just some of the factors they point to. These have already led to deflation in some key economic areas.

The bond market, on the other hand, tells us that inflation concerns are real. The five-year breakeven rate, a proxy for inflation expectations calculated by taking the difference between five-year U.S. Treasurys and Treasury Inflation-Protected Securities, is close to its five-year high.

Story continues

Whats more, the yield curve continues to steepen, signaling expectations of higher interest rates in the future as central banks tackle a looming inflation problem. Taking into account the damage rising interest rates would do to debt-laden economies, this is the bond market telling us that they see trouble ahead.

But does that really matter for bitcoin?

Bitcoin is seen as an inflation hedge mainly because of its limited supply, which is not influenced by its price,and because of its relative attractiveness when real yields head to zero or lower.

Yet, when you buy bitcoin, youre not just doing so to hedge inflation. Youre buying bitcoin to hedge all the other negative consequences that usually accompany it.

True, inflation is not always bad. Good inflation, a result of economic growth and low unemployment that helps to close the gap between supply and demand, encourages investment and even more economic growth.

Runaway inflation, however, exacerbates poverty, heightens uncertainty, demolishes trust in institutions and can lead to the breakdown of social order. This is not isolated to post-WWI Germany we see it today in Venezuela, Zimbabwe, Lebanon and Argentina, to name just a few.

Bitcoin is also a hedge for unstable governments that close bank accounts, police states that want to seize private wealth, broken payments rails due to corrupted systems or outside cyber attack threats, paranoid leaders that want to disenfranchise opponents, export-protecting devaluations that trigger more inflation.

These are less likely in developed economies. But lets not forget that tipping points lurk around unexpected corners, and that Venezuela was once one of the wealthiest countries in the world and one of the more stable democracies in Latin America.

Bitcoin is a hedge against inflation, but also against political instability and social disruption, which if inflation comes roaring back is not a ridiculous thing to prepare for.

Bitcoin is also a hedge against a more gentle but just as pernicious debasement of currency through a loss of trust.

Traditionally, inflation moves in tandem with the strength of the local economy. But it can be triggered by currency weakness, which raises the prices of imported goods.

This is usually corrected when the central bank raises interest rates to combat rising inflation, which increases the attractiveness of the currency compared to others.

But in the current environment, an increase in interest rates may have the opposite effect, given the potentially catastrophic impact on debt-ridden economies. The U.S. bond market is telling us that it thinks interest rates will rise. The dollar continues to head lower, however, and could continue to do so even if those rate increases materialize, as faith in the capacity of the U.S. to employ traditional tools to good effect could be shaken.

And, most bitcoin trading is denominated in dollars. Therefore, if the dollar heads lower without a corresponding fall in the value of bitcoin (and since its unrelated to the economy, theres no fundamental reason why it would), the BTC/USD ratio heads up.

Bitcoin is a hedge for not just the macroeconomic ills that we have been trained to watch out for. It can also provide ballast against the unforeseen problems waiting to be triggered.

This highlights another hidden strength of bitcoin as an investment asset.

It is unlike any asset that we have seen before: programmatic supply, decentralized governance, fragmented market infrastructure that runs on technology developed by an unknown entity yet maintained by miners, developers and validators distributed across many geographies.

It doesnt fit into standard economic thinking and for that reason, it is perfect for our times.

In a world where youve gone from orthodox monetary policy to Keynesian economics to MMT in a few months, there is no longer any trust in the traditional recipes.

To paraphrase G. K. Chesterton, when you stop believing in traditional recipes, your mind is more open to new ones.

Bitcoin in portfolios represents more than a new recipe. It represents the need for a new recipe. It represents a safety play against a world in which old ideas are up in the air, and new ones have yet to take root.

It represents more than a hedge against inflation: it also represents an acceptance that politics and economics can get weird, and that untested ideas that are untethered to macroeconomic features and past assumptions are worth considering.

It represents a hedge against crazy, which is hopefully not what awaits us but the risk of not preparing for that possibility is verging on irresponsible, and not even thinking about it is likely to end up being prohibitively expensive.

The outperformance of bitcoin in 2020 has to set up the asset for even more professional investor attention next year, even though we all know that past performance is not an indicator of future performance. Or is it? The momentum trade seems to be the predominant strategy this year, and given the amount of money sloshing around markets looking for a good return, there is no indication that will end soon.

Then again, all bull markets have to end some time, although the underlying fundamentals and investment theses of bitcoin do not get worse with vaccine disappointments and worse-than-expected economic figures unlike with stock and bond markets.

Investors talking:

Scott Minerd, CIO of fund manager Guggenheim Partners, which manages more than $230 billion worth of assets, told Bloomberg TV hosts this week that his firms fundamental analysis shows that bitcoin should be worth $400,000. This conclusion is based on the assets scarcity, and its relative value to gold as a percentage of gross domestic product. He also revealed that Guggenheim had started allocating to bitcoin when it was trading at around $10,000.

U.K.-based fund manager Ruffer Investment Company has invested approximately $740 million in bitcoin, equivalent to around 2.7% of the firms assets under management. According to the company, the investment was primarily a protective move for portfolios to act as a hedge against some of the risks that we see in a fragile monetary system and distorted financial markets. Ruffer is known in investment circles as a conservative manager focused on capital preservation. It had the top-performing active fund in Europe for January-June 2020: the LF Ruffer Gold Fund produced a six-month performance of over 55%. And now its investing in bitcoin. Ruffer has spoken often in the past about its inflation concerns. This investment makes me want to check in on other active managers worried about inflation their ranks are growing.

One River Asset Management, a $1 billion hedge fund (as of April 2020) specializing in volatility plays, has invested $600 million in bitcoin and ether or institutional clients (including Ruffer, which owns a stake in the company) via its subsidiary One River Digital Asset Management. CEO Eric Peters told Bloomberg that One River Digitals crypto holdings will cross $1 billion in early 2021. Brevan Howard Asset Management co-founder Alan Howard is taking an ownership stake in One River Digital and helping to provide the company with back-end trading services.

Christopher Wood, global head of equity strategy at investment firm Jefferies, has trimmed the recommended exposure in his model global portfolio from 50% gold in favor of bitcoin. This is even more notable given that this particular portfolio is designed with U.S. pension funds in mind. Whats more, he has said that he plans to increase exposure to bitcoin should there be a correction.

Jeff Currie, head of commodities research at Goldman Sachs, told Bloomberg that bitcoin was a retail inflation hedge, and a risk-on growth proxy.

Not an endorsement, but an interesting and potentially useful thread prompted by tech investor Andrew Wilkinson, co-founder of Tiny Capital.

In market developments:

U.S.-based crypto asset exchange Coinbase has filed preliminary documents with the U.S. Securities and Exchange Commission (SEC) to go public. The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions. TAKEAWAY: Here we go This will create by far the largest listed company in the crypto industry, and has been rumored for some time. As well as attracting even more attention to crypto markets, it is likely to kick off a slate of crypto-related listings, especially given the recent price movements and the swelling of institutional interest. What Im most excited about, apart from seeing how the market values a systemic crypto market infrastructure business, is getting a look at their balance sheet and P&L.

Cboe Global Markets will launch a suite of crypto market tools in 2021 in a licensing partnership with execution provider CoinRoutes, including cryptocurrency indexes, historical data and real-time ticks. TAKEAWAY: Cboe operates the largest options exchange in the U.S. Coming from a traditional market infrastructure player, this deal signals support for the nascent asset group, and points to the introduction of new crypto services and products over the coming years. S&P also recently revealed crypto index plans, and other market data providers are likely to join the race to capture crypto data market share.

The Chicago Mercantile Exchange (CME) will launch a futures contract on ether (ETH) in February 2021. TAKEAWAY: This goes a long way towards validating ETH as a potentially institutional-grade investment. The lack of liquid ETH derivatives for institutional investors has dampened hedging opportunities, and the removal of these barriers could encourage more professional investors to at least consider its merits.

Advisory company Evercore has named PayPal as its top payments stock, in part because it believes that the firms cryptocurrency services could be good for customer engagement and transaction margin. TAKEAWAY: This not only encourages investors to consider companies that are launching crypto asset services; it also encourages more companies to offer crypto asset services, because who doesnt want investors looking at them?

Sovryn, a self-billed decentralized platform for trading and lending Bitcoin, has launched on the Bitcoin sidechain RSK, with $2.1 million in funding. TAKEAWAY: Theres a lot of debate about whether Bitcoin could ever be used for smart contracts. This is a reminder that the jury is still out, and technological progress is pretty good at showing that what many think is impossible is not that impossible after all. If the range of applications that can be built on Bitcoin broadens, that could boost its potential value.

SBI Financial Services, the subsidiary of Japanese tech conglomerate SBI Holdings, has acquired U.K.-based cryptocurrency OTC desk B2C2. TAKEAWAY: This is another example of legacy finance leveraging crypto asset services to broaden its client base, and to sell more to existing clients.

Banca Generali, an Italian private bank that focuses on wealth management for high net worth individuals, is leading a $14 million investment round in crypto wallet provider Conio, with an agreement to offer Conios services to the banks clients. TAKEAWAY: Yet another legacy bank gears up to offer crypto asset services to its clients. We will see a lot more of this in 2021.

You have banks building or buying crypto asset services, and you also have crypto firms trying to become banks. Crypto payments firm BitPay has filed to become a national bank in the U.S., headquartered in Georgia. TAKEAWAY: By becoming a national bank, BitPay will be able to operate in all U.S. states, while its non-bank competitors will need to get money transmitter licenses in each state they wish to operate in. This confers an operational advantage, and also a strategic advantage in that clients could prefer the additional scrutiny borne by national trust banks, compared to firms that dont have a national bank license.

Speaking of crypto firms hoping to become banks, crypto asset platform Paxos (which last week filed to become a federally regulated bank) has raised $142 million in a Series C round. TAKEAWAY: Paxos is emerging as a key player in the developing crypto market infrastructure: as well as a crypto exchange itBit, it is building a full-stack infrastructure service that includes custody, tokenized securities, stablecoins and more. It powers PayPals new bitcoin offering, and also counts Credit Suisse, Socit Gnrale and Revolut among its clients. (Paxos founder, Charles Cascarilla, was named one of CoinDesks Most Influential for 2020.) With this amount of funding, it will be interesting to see which of their many services they choose to build out more, or whether they will be adding new market tools to the mix.

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The Role of Automation in the Future of Logistics – CIOReview

Posted: at 11:49 am

FREMONT, CA:

GLogistics automation can be a comprehensive concept that covers all functions that are performed at the technological level, like a Transportation Management System (TMS) for managing the transportation and freight departments in each company.

Logistics is a massive field with a large number of specialists involved in various processes. The processes carried out at each stage are extremely important as they contribute to the smooth movement of goods along the supply chain. With the help of automation, these processes become more efficient. Automation in logistics can have various benefits like saving on labor, inventory, energy, and more. Also, the logistics processes are carried out faster, more precisely and qualitatively, more economically and more efficiently. On the whole, it reduces errors and improves customer service.

Logistics automation can be a comprehensive concept that covers all functions that are performed at the technological level, like a Transportation Management System (TMS) for managing the transportation and freight departments in each company. It helps with work in all possible units, including stock monitoring, planning, administrative, accounting, and management departments. Here are a few advantages of logistics automation.

Reducing Costly Errors

Automation can help businesses to integrate inventory management through the ERP system fully. It includes all fixed and current assets and goods available. Automation will be able to give direct access to address book, fuel charges and other types of automatic storage, which can help eliminate significant errors. The possibility of making errors can be very high while making multiple data entries by hand from available documents. This can have a considerable impact on the bottom line of the company. Investing in freight management software will help optimize the logistics business. Several features can be integrated into this system, relieving managers from a great deal of stress. The number of mistakes will also decline, and there will be no need to solve problems continuously.

Improved Customer Service

Customer satisfaction is the ultimate goal of every business. Every organization is looking for new and innovative ways to attract new customers and at the same time, retain loyal ones. However, there is always a chance to lose those customers that have been with the company for a very long time. When a new company offers them shipping conditions that are cheaper and better, the customer tends to choose them. This is the first indication that something is wrong with the quality of service, speed or price. Logistics automation can help avoid these situations by providing better control of the shipment while managing the supply chain.

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Survey Shows Need for Better Automation of AP Operations and Fraud Controls; Phixius Was Created to Answer the Call – PR Web

Posted: at 11:49 am

These survey results are exciting because they show, with Phixius, we have created a new utility that will answer the need for better AP controls the industry has asked for, said George Throckmorton, Nacha Managing Director and Executive Director of Afinis Interoperability Standards.

HERNDON, Va. (PRWEB) December 21, 2020

A survey by Nacha and Blueflame Consulting and Research found that Accounts Payable (AP) operations face challenges collecting, verifying and maintaining data, which is adding costs and increasing fraud exposure.

The survey, which coupled a questionnaire with in-depth interviews of businesses, banks and payment providers, found that a robust vendor master is vital to achieving payment efficiencies and mitigating fraud risk for AP operations. In response, the industry is calling for better automation of these processes, and the research shows that a tool like Phixius is critical to answering that call.

Responses related to vendor onboarding also cite difficulties with tracking new vendor requirements, which can require system and reporting re-configurations, and confirming vendor information changes. In particular, validating vendor bank account change notifications, a key control for mitigating fraud, is manually intensive.

Additionally, respondents shared that they faced increasing fraud attempts aimed at compromising the AP processes. While current fraud tools are helpful, there is no systematic or automated option for accomplishing this.

With these challenges in mind, survey respondents said they want help with the collection, verification and validation of vendor information. Thats where Nachas Phixius comes in.

By leveraging an inter-connected platform, standardization and rules, Phixius creates interoperability between trusted providers of vendor information and seekers of vendor information, said George Throckmorton, Nacha Managing Director and Executive Director of Afinis Interoperability Standards. Through this, Phixius automates the exchange and maintenance of trusted vendor information to reduce fraud. Its one of the reasons Nacha created Phixius.

These survey results are exciting because they show, with Phixius, we have created a new utility that will answer the need for better AP controls the industry has asked for, said Throckmorton.

Phixius is a subscription-based data service platform, available now, that facilitates the trusted exchange of vendor information, as well as other pre- and post-payment information. It connects two parties securely, easily, and effectively utilizing a model built on established rules, technology, and six core principles: security, privacy, standardization, authentication, trust and auditability.

For more information on Phixius, go to phixius.org.

About Nacha

Nacha governs the thriving ACH Network, the payment system that drives safe, smart and fast Direct Deposits and Direct Payments with the capability to reach all U.S. bank and credit union accounts. More than 24 billion ACH payments were made in 2019, valued at nearly $56 trillion. Through problem-solving and consensus-building among diverse payment industry stakeholders, Nacha advances innovation and interoperability in the payments system. Nacha develops rules and standards, provides industry solutions, and delivers education, accreditation and advisory services.

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Survey Shows Need for Better Automation of AP Operations and Fraud Controls; Phixius Was Created to Answer the Call - PR Web

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Here’s Why I Won’t Buy Bitcoin, and You Shouldn’t, Either – Motley Fool

Posted: at 11:49 am

This has been a history-making week, and I'm not just talking about the rollout of coronavirus vaccines. On Wednesday, Dec. 16, we witnessed the largest cryptocurrency in the world by market cap, bitcoin, blow past its previous high and eclipse $20,000 per token. In fact, bitcoin went on to also blow by $21,000 and $22,000 within a matter of hours.

For as volatile as the stock market has been in 2020, you wouldn't know it by looking at bitcoin, which is up by 201% on a year-to-date basis through the late evening of Dec. 16. This jaw-dropping rally is rebuilding the euphoria that overtook the crypto community back in 2017, and probably has folks believing cryptocurrency is a good investment.

But I am not part of that community, nor can I say I ever will be. The higher bitcoin goes, the more convinced I am that it's one of the most dangerous investments. Each of the major buy theses surrounding bitcoin can be easily debunked -- as follows.

Image source: Getty Images.

One predominant catalyst for bitcoin is the perception of scarcity. It currently has 18.57 million tokens in circulation and a cap of 21 million. Over time, the remaining 2.43 million tokens will be mined via transaction proofing and block rewards. With only so many tokens to go around (fractions of a token can be bought and sold), the buy thesis suggests that this scarcity makes bitcoin an excellent investment.

The problem is that bitcoin lacks genuine scarcity. Its perceived cap of 21 million tokens exists because of computer code. Last I checked, code can always be erased and rewritten. While it's unlikely that a community consensus would be reached to increase the circulating supply of bitcoin, the possibility of this happening isn't zero.

By comparison, a precious metal like gold has a hard supply limit. We can't use alchemy to make more gold. The only gold that's available is what's been mined or is still underground. When the only parameter of scarcity is written computer code, that's not true scarcity.

Image source: Getty Images.

Another buy thesis of bulls is that bitcoin's utility is growing by the day. More businesses are accepting digital tokens for payment, and a broader swath of people are buying bitcoin tokens for the first time. According to financial services company Fundera, around 2,300 U.S. businesses and 15,174 global businesses were accepting bitcoin at the end of 2019. More than a dozen multinational companies also accept bitcoin.

Slam-dunk proof of increasing utility, right? Not so fast.

Even following its monumental rally, bitcoin has a total market value of $400 billion. That compares to approximately $142 trillion in global gross domestic product (GDP) in 2019. While it's true that not all GDP is consumption based, this $400 billion accounts for less than 0.3% of global GDP.

Furthermore, approximately 40% of bitcoin tokens are being held by long-term investors with no desire to put those tokens into circulation. Rather than having $400 billion in buying power, there's more like $240 billion in purchasing power available, accounting for 0.17% of global GDP in 2019. There are not nearly enough tokens in existence to drive widespread adoption, based on these figures.

As one additional note, there are about 32.5 million businesses in the U.S., including sole proprietorships. Removing these nonemployer businesses leaves 7.7 million companies with at least one paid employee, per the U.S. Census Bureau in 2016. According to Fundera, just 2,300 of these businesses are accepting bitcoin.

Face the facts: There's no widespread utility.

Image source: Getty Images.

Bitcoin bulls are also pretty convinced that the most popular digital currency is now a bona fide store of value: i.e., an asset, commodity, or currency that maintains its value.

Every month, the Federal Reserve is buying roughly $120 billion in government-backed debt. When coupled with the central banks' pledge to keep its federal funds rate at or near record lows, it's pretty evident that the U.S. dollar will be under pressure. Crypto investors believe that a ballooning money supply is a green flag for bitcoin to head significantly higher.

The issues I have with the store-of-value thesis are twofold. First, bitcoin isn't backed by any other asset or government. Therefore, it has no tie-ins or official relationship to the movements of the U.S. dollar. Implying that a ballooning money supply should push bitcoin higher is nothing more than a dart throw.

Second, store-of-value assets are designed to maintain their value over time and protect investors from volatility. Yet in March, bitcoin nearly lost half of its value in a 24-hour period. In 2018, the largest cryptocurrency by market cap shed over 80% of its value. In 2013, bitcoin lost about half its value in about six hours. This isn't how a store-of-value asset behaves.

The truth is, buying bitcoin is pure speculation.

Image source: Getty Images.

Bitcoin optimists will also crow about bitcoin leading the digital payments revolution. Going cashless could resolve the issues created by certain regions of the world being underbanked. Additionally, the blockchain technology that underlies bitcoin could revolutionize the payment processing and settlement time frame, especially in cross-border transactions.

While I don't disagree that a digital payments revolution is underway, or that blockchain could offer global financial and supply chain solutions, bitcoin isn't the vessel that's going to make this vision a reality.

The interesting thing about blockchain is that it can be tethered to multiple types of digital currency, be used in conjunction with fiat currency, or can operate independent of a tethered token. There's absolutely zero evidence that bitcoin is necessary to support a blockchain revolution.

To add, buying bitcoin tokens does not give an investor any ownership in the underlying blockchain. With no ownership in the solution that has the potential to actually drive this digital revolution, bitcoin investors are pinning their hopes on other investors being willing to pay more for a currency that exists only in computer code than they did.

So, why is bitcoin rallying? I'd surmise it's a combination of short-term emotions, technical analysis (i.e., pretty charts), and a grossly inefficient crypto market that overwhelmingly favors the buy side. After all, it's nowhere near as easy to bet against bitcoin as it is to bet against a publicly traded stock.

History has proved that sentiment can shift at the drop of a pin in the cryptocurrency space. I'd suggest investors keep their distance from bitcoin.

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Butler on wheels, robot cutting salad: How COVID-19 sped automation – The Spokesman-Review

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For decades, the attitude of unions and their advocates to increased automation could be summed up in one word: No. They feared that every time a machine was slipped into the workflow, a laborer lost a job.

The COVID-19 pandemic has forced a small but significant shift in that calculation. Because human contact spreads the disease, some machines are now viewed not exclusively as the workers enemy but also as their protector. That has accelerated the use of robots this year in a way no one expects to stop, even after the virus is conquered.

If you keep me 6 feet away from the other worker and you have a robot in between, its now safe, said Richard Freeman, a professor of economics at Harvard University, who studies labor. And the robot companies are selling that as a solution and the unions arent going to say, No, you should have the workers standing next to each other so they get sick.

The result is the spread of windshield-mounted toll detectors, automated floor cleaners at factories, salad-chopping machines in grocery stores, mechanical butlers at hotels and electronic receipts for road pavers. What remains less clear is where the men and women who used to do some of those jobs will work.

The impact of technology on employment has been a topic of anxiety and study for generations with mixed results. Cars didnt kill trains, television didnt end radio. When banks installed ATMs, they hired more people, not fewer, because the variety of their services grew. But machines have eliminated many jobs, and the current wave will prove to be no exception, especially with public health a top concern.

When we come out of this crisis and labor is cheap again, firms will not necessarily roll back these inventions, David Autor, an economist at the Massachusetts Institute of Technology, said at a September webinar of the Federal Reserve Bank of Philadelphia. These are kind of one-way transitions.

Thats what worries union leaders.

In the auto industry, we see COVID-19 accelerating transformation toward digitization, said Georg Leutert, who heads the automotive and aerospace industries at Geneva-based IndustriALL Global Union. While the transition is unavoidable, workers are nervous and need help with up-skilling and reskilling, he said.

Mark Lauritsen of the United Food and Commercial Workers International Union in North America said that in order to avoid the kind of disruption in the meat industry caused by the virus, automation will clearly continue but warned, If automation is unbridled, its going to be a threat.

With office workers at home communicating via remote tools, a knock-on effect is also being felt: bus drivers, sandwich stall owners and janitors are in trouble as their jobs, which support in-office work, diminish. Jobs in administrative support, which includes roles in office buildings, are down about 700,000 since last year, according to November data from the Bureau of Labor Statistics. In addition, the stock market, already biased toward technology companies, has driven investors away from labor-intensive industries in the pandemic.

New automation also seems to be affecting retail jobs. There are 500,000 fewer of them than last November, according to the BLS. Transportation and warehousing are about 100,000 jobs below year-ago levels. Meanwhile, retail sales are at their highest level on record, mostly driven by e-commerce, which often employs more automation than brick-and-mortar stores do.

The World Economic Forum reported in October that 43% of businesses surveyed are set to reduce their workforce due to technology integration while 34% plan to expand their workforce for the same reason. By 2025, the time spent on current tasks at work by humans and machines will be equal.

Some argue that turning over repetitive jobs to robots will free up workers to take on new roles in what is now a booming industry elderly care. There is an urgent need for more workers to look after the oldest old, Manoj Pradhan, founder of Talking Heads Macroeconomics, and Charles Goodhart, London School of Economics professor, argue in their book The Great Demographic Reversal.

But Marcus Casey, an economist at the University of Illinois at Chicago, says that while some high-skilled workers will be retrained, many low-skilled ones like toll collectors wont, exacerbating inequality.

One case in point: The Pennsylvania Turnpike Commission cut 500 jobs after installing an electronic tolling system in March.

Some companies are preparing for more pandemics, meaning more automation and fewer employees. Lucid Motors, an electric-vehicle startup backed by Saudi Arabias Public Investment Fund, has built a 999,000-square-foot electric vehicle factory in Casa Grande, Arizona, where it hopes to start production on a $160,000 EV next year.

After this pandemic, the next pandemic will show up, said Peter Hochholdinger, Lucids vice president of manufacturing. We have to put more effort in automation in general assembly.

In mining, Swedish suppliers Hexagon and Epiroc say interest in automation has suddenly jumped.

Caterpillar Inc. Chief Executive Jim Umpleby said recently that older equipment will probably be replaced by more digital trucks and autonomous technologies will reduce close proximity among workers.

Juan Cariamo, chairman of CNP, a public-private group that helps test mining technologies in Chile, said the virus is accelerating long-term changes by forcing companies to relocate employees off-site.

The pandemic has imposed a sense of urgency, Cariamo said in an interview. Projects that were already in the pipeline are being sped up.

In Chile, requests have grown for permits to pilot a wide range of technologies from tire pressure sensors to mining waste reprocessing and autonomous vehicles. Chiles mining regulator signed an agreement with CNP in October to streamline the permit process.

BHP Group, the worlds biggest miner, has an $800 million program to add 500 autonomous trucks in iron ore and coal mines in Australia and is considering adopting driverless trucks at copper mines in Chile.

Chiles mining industry employed 201,000 people in September, down 15% from last year and the lowest in at least a decade, according to the countrys Mining Council. Meanwhile, production has risen slightly and the council has lowered by 12% its projection for the number of mining jobs needed over the next decade.

Recession is a common time for investment in automation because borrowing is cheaper and companies that cut jobs even if due to automation can attribute the reductions to the economy and avoid negative publicity, said Ethan Pollack, policy director at The Aspen Institute Future of Work Initiative. The pandemic only adds to the motives, he said.

Currently, Chile, the U.S. and Mexico spend the least on active labor market policies which are intended to improve job readiness and expand employment among all countries that belong to the Organization for Economic Cooperation and Development. That isnt likely to change quickly because health concerns are coming first.

Politicians are still not paying attention, Pollack said. Were going to be paying the cost for decades if we dont act now.

Tax laws also favor automation. U.S. tax on capital which includes robots and machinery is about 5%, whereas the tax on labor is about 25%, according to a study from MIT economists.

President-elect Joe Biden acknowledges the threat of job loss but hasnt mentioned additional funding or changes to the tax code.

He has said his administration will ensure that employers give all affected employees advance notice of technology changes and automation in the workplace, put their employees at the front of the line for new jobs and offer paid skills training.

Casey, the University of Illinois economist, said the more people without work, the greater the risk of social unrest.

Many of these people are prime-age males who have virtually nothing to do and our social policy directs money away from that cohort by and large, Casey said. Policy makers are underestimating the political problem and the social problem thats going to emerge when we go into a world in which theres just not enough work to go around.

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Big investors new to cryptocurrencies appear to be behind bitcoin’s rally to a record – CNBC

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Stanley Druckenmiller (L) and Paul Tudor Jones

CNBC

A herd of new, big investors are scooping up bitcoin this year as the price more than doubles.

Investors who bought at least 1,000 bitcoins worth roughly $23 million at Friday's price and have had an account open for less than a year, drove significant demand since September, according to data firm Chainalysis. The new cohort together bought half a million bitcoins, or $11.5 billion worth, in the past three months.

In the time these new investors accelerated their buying spree, bitcoin's price more than doubled from $10,000 level. The new demand has helped fuel the cryptocurrency's rally to an all-time high, according to Philip Gradwell, chief economist at Chainalysis.

"The role of institutional investors is becoming ever clearer in the data," Gradwell said in a note to clients Friday. "Demand is being driven by North American investors on fiat exchanges, with greater demand from institutional buyers."

The surge in demand from wealthy Wall Street investors marks a sharp turn-around from bitcoin's first run-up three years ago. The 2017 rally was driven by retail investors, many of whom who bet on bitcoin and other smaller cryptocurrencies out of speculation. Bitcoin became a household name when it first neared $20,000 that year. It crashed soon after, losing 80% of its value in the following months.

Source: Chainalysis

Bitcoin crossed $23,000 for the first time ever this week, bringing its year to date gains to more than 200%. The cryptocurrency has recovered roughly a quarter of its value since Friday, and is on pace for its best week since May 2019.

The price resurgence in 2020 in part has been fueled by well-known Wall Street billionaires publicly backing bitcoin. Analysts say that gave confidence to otherwise skeptical, mainstream investors.

Stanley Druckenmiller and Paul Tudor Jones have both invested in the cryptocurrency and highlighted its potential as a hedge against inflation. Meanwhile,Square, MicroStrategyand Mass Mutual have used their own balance sheets to buy cryptocurrency. PayPal also added the ability for clients to buy bitcoin, which has opened up the market to millions of new buyers.

"We are seeing institutional capital flowing in at the fastest pace in the history of our business, and it is being deployed by some of the world's largest institutions and some of the most famous investors," Michael Sonnenshein, managing director at Grayscale Investments, told CNBC in a phone interview Friday. Flows into Grayscale's publicly traded Bitcoin Trust have increased roughly 6x from a year ago, he said.

Chainalysis also pointed to less liquidity in the market, with fewer sellers than there were there years ago.

Last week, there were 801,000 fewer bitcoin sent compared to 2017. To be sure, not all bitcoin being "sent" is being sold. But Chainalysis' Gradwell said it's a "good proxy" since there are limited use cases otherwise, especially when prices are spiking. Less bitcoin availability "would explain the rapid price increase this week," he said.

As bitcoin neared its high this week, rapper "Megan Thee Stallion" tweeted a bitcoin giveaway with Square Cash App, which was retweeted by Square and Twitter CEO Jack Dorsey. The endorsement coincided with the peak of bitcoin's price Thursday.

"Celebrity endorsements have typically been a bellwether for the top of the market, so maybe this omen will overcome the fundamentals I have shown in the data," Gradwell said.

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Big investors new to cryptocurrencies appear to be behind bitcoin's rally to a record - CNBC

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Siemens Energy to provide electric drive train and automation to Cochin Shipyard for 23 ferries; LTO batteries from Echandia – Green Car Congress

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Indias first greenfield and largest shipbuilding yard, Cochin Shipyard Ltd., has selected Siemens Energy to provide advanced marine solutions for the countrys first fleet of 23 boats to be equipped with electric propulsion drive trains with energy storage integration (batteries) and vessel automation technologies.

Cochin Shipyard Ltd. is building the fleet to strengthen Kochi Metro Rail Ltd.s (KMRL) infrastructure and its connectivity to islands around Kochi / Ernakulam. Kochi is a major port city on the south-west coast of India.

Kochis water metro will eventually comprise 78 ferries running on 16 identified routes, connecting 10 islands via 38 different terminals. The project is the first water transport system in India to integrate with the metro and is widely expected to revolutionize water transportation and support the countrys efforts to reduce its emissions and carbon footprint.

The combination of the electric propulsion drive train, energy storage, and automation systems will significantly reduce fuel consumption, increase maneuverability, and provide reliable, uninterrupted power supply while ensuring safe, cost-effective operation of the vessels.

Siemens has selected Echandias LTO batteries for the project. Echandia LTO battery systems are based on Toshibas LTO (Lithium-Titanium-Oxide) cells.

Earlier this year, Echandia became the first company in the world to be awarded a DNV-GL Type approval certificate for an LTO battery system. DNV-GL is the worlds leading classification society for maritime battery systems. A DNV-GL certificate gives shipyards, operators and insurers confidence that Echandias batteries meet DNV-GLs strict requirements.

DNV-GL awards type approval to companies that can demonstrate that their solutions meet international standards, regulations and recognized DNV-GL rules. Echandia conducted a series of tests to demonstrate compliance. These include thermal runway propagation, internal/external short circuit, forced discharge, EMC, environmental tests, software functional tests and battery system performance tests.

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Siemens Energy to provide electric drive train and automation to Cochin Shipyard for 23 ferries; LTO batteries from Echandia - Green Car Congress

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