Daily Archives: April 2, 2021

Bitcoin Cash (BCH): Hows It Differ From Bitcoin and Whats It Worth? – Yahoo Finance

Posted: April 2, 2021 at 10:42 am

Bloomberg

(Bloomberg) -- The promised end of the pandemic draws closer with every shot in the arm. So in the first three months of 2021, traders raced to position themselves for a post-Covid world by girding for super-charged growth and higher inflation.This reflation trade put Treasuries on course for their worst quarter since 1980, with the global bond plunge sending yields surging to pre-pandemic levels. These sharp moves spooked investors, who were already turning away from pandemic favorites, like tech companies, into value stocks poised to benefit from economic reopening. Market fever dreams played out in cryptocurrencies and newfangled ways to take companies public. And even as the U.S. dollar proved its resilience, traditional haven currencies were battered.At the same time, recovery measures of new U.S. President Joe Biden helped to flood money markets and, if he has his way, this will soon be followed by trillions of dollars in additional infrastructure spending. All the while, the Federal Reserve shows little inclination to rein in long-end yields.Generally reflation has been the dominant driver of global price action, said Simon Harvey, senior market analyst at Monex Europe, who revised his dollar outlook this week. What wrong-footed most people coming into 2021 is just how aggressive the U.S. outperformance was going to be.Here are some of this quarters most notable moves:Treasuries RoutWith the size of U.S. stimulus putting the nation on course for a swift economic rebound from the pandemic, its no surprise that U.S. Treasuries led the global rates selloff. Theyre on track to record their worst quarter since 1980, according to Bloomberg Barclays indexes. By comparison, the retreat seen in Europe and Asia was in line with quarterly declines seen in 2019 and 2020, respectively.Treasuries extended losses this week, fueled by Bidens plans to accelerate the vaccine campaign and rebuild infrastructure. The divergence between U.S. and European markets was borne out in the spread between benchmark Treasuries and bunds, which widened more than 50 basis points. That about matched the move seen in the final quarter of 2016, and a bigger jump hasnt been seen since 1993.Read More: Bond Rout Reignites as U.S. Stimulus Bets Overshadow Quarter-EndDominant DollarThe climb in U.S. yields relative to major peers helped to drive a surge in the dollar that ran counter to many expectations for 2021 as the currency turned from a prime haven at the height of market turmoil in March 2020 into a bet on U.S. economic supremacy.Traditional havens of the currency world -- the Japanese yen and Swiss franc -- bore the brunt of the selling, with each suffering their worst quarter in years.The importance of pandemic recovery was evident across currency markets. In a change from last years Brexit wrangling, the outlook for the British pound was all about the U.K.s vaccine drive, which far outpaced the European Unions effort, setting the euro up for its worst quarter since 2015.Brazils currency, which fell more than 7%, was among the poorest performers over the period as the country struggled to contain its mounting Covid crisis. Turkey was one of the few emerging markets whose currency did even worse. While much of that is the result of a shock decision to fire the central bank chief, that move came after the monetary authority raised its benchmark in response to global rate and foreign-exchange pressures.Read More: Dollar Reigns Supreme With Rate Gaps Too Big to Be IgnoredStock RotationsBillions are on the move as investors rotate away from previously high-flying areas and toward pockets of the market that stand to benefit from a brightening economic outlook. In that environment, tech stocks -- 2020s undisputed winners -- have lagged, while smaller companies have outperformed. The Russell 2000 index of smaller firms outperformed the tech-heavy Nasdaq 100 for the second-straight quarter, beating it by about 10 percentage points. Value stocks, too, stepped into the limelight, with the Russell 1000 value index beating its growth counterpart by roughly the same amount.We would expect that rotation to continue, said Adam Phillips, managing director of portfolio strategy at EP Wealth Advisors. Moving forward, its going to be more about the recovery plays, and thats not a story thats going away.But the rise in rates rattled more speculative corners of the market as investors started to question lofty valuations. Sentiment soured, for instance, on special purpose acquisition companies, a group that came to symbolize risky behavior in equities. An index tracking SPACs is down roughly 21% since its mid-February peak. Meme-stock mania also cooled: An index tracking companies including GameStop Corp. and Naked Brand Group Ltd. is down about 28% since its recent January high, data compiled by Bloomberg show.Youre seeing corrective phases in those previously hot areas, but its happening through a process of rotation, so the money is just going to other parts of the market, Liz Ann Sonders, chief investment strategist at Charles Schwab, said by phone. There was so much hype and so much appreciation that, yes, I think its natural and healthy to see rollovers in those areas.Volatility EverywhereBut while benchmark stock indexes glide along, the subsurface churn has been extremely violent. A model from Bank of America that plots how much value is being created and destroyed each day in individual stocks shows that 2021 has generated more turbulence than virtually any other year. The volatility -- which is prevalent among small-cap stocks as well -- is just being masked because up-and-down moves in different companies over days and weeks have tended to offset each other.Read more: Blowups and Rotations Making This Market Just as Brutal as 2020Meanwhile, turbulence in the $21 trillion Treasury market has been on the rise. The ICE BofA MOVE Index, a gauge of U.S. bond volatility, has been grinding higher. The measure currently clocks in at 67, higher than its one-year average of 52 and well above Septembers low of 37.Commodities SupercycleRaw materials from copper to oil have started the year off strong, with investors flocking to commodities as a popular pandemic recovery trade and to hedge against inflation.The 23-member Bloomberg Commodity Spot Index in February reached the highest in almost eight years before easing this month, and still remains on track to notch a gain this quarter. JPMorgan Chase & Co. even went as far as to flag the start of a new commodities supercycle. An upcoming energy transition could constrain oil supplies, while at the same time boosting demand for metals required in renewables infrastructure, JPMorgan analysts said in a report last month.Bond SalesInvestors in credit benefited from a narrowing in spreads to pre-pandemic levels, but that did little to offset the negative impact from the broader rise in rates -- the Bloomberg Barclays U.S. Corporate Bond Indexs 5% drop has it on course for its worst quarterly return since 2008.Emerging-market bond spreads drifted wider, but the shift wasnt enough to throw bond sales off track. The gap between emerging-market hard currency debt and Treasuries rose seven basis points in the quarter, according to a JPMorgan Chase & Co. index, compared with a 335-basis point jump the same period last year.That said, cracks have recently started to show on issuance front. Indonesia shrank the size of a debt offering, Russia canceled a bond sale and South African debt saw lower demand than usual.Read More: The Sweet Spot Is Behind Us: Bond Rout Hits Deals Around WorldBitcoin BoomCryptocurrencies have had a marvelous 2021 so far. Bitcoin, the worlds largest digital asset, has doubled since the start of the year, gaining 104% in its second-best quarterly performance since June 2019. Much of its momentum has been driven by wider institutional acceptance, with more mainstream firms taking a greater interest in crypto assets. At the same time, applications for Bitcoin exchange-traded funds also trickled in, with Fidelity Investments the latest firm to join the list of crypto-ETF hopefuls.Meanwhile, fans, including Tesla Inc.s Elon Musk, have argued the coin can be a great store of value -- Bitcoin gained after the electric-vehicle maker said that it put more than $1 billion into the coin.Still, others worry its run up too far, too fast and could be losing its shine as speculation grows that retail investors are becoming less involved in the market. Bitcoin hit a record of $61,742 in mid-March and is roughly 4% off its highs.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2021 Bloomberg L.P.

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BNY Mellon Report Compares Bitcoin and Gold, Study Says ‘Gold Is the Only Globally Accepted Currency’ Economics Bitcoin News – Bitcoin News

Posted: at 10:42 am

The popular safe-haven asset gold recently posted the lowest settlement in three weeks, as a firm dollar and bond market yields have weakened support for the precious metal. The financial goliath BNY Mellon also published a report about the differences between gold and bitcoin and the study said that the crypto asset fits the description of a nascent currency.

The U.S. dollar has gained some strength in the last two weeks, and crypto-assets like bitcoin (BTC) have increased in value as well. However, the precious metal (PM) gold has seen better days, as gold prices have retreated during the last few weeks. The price of gold dropped under the $1,700 per ounce range last week but today, the PM has managed to climb back above the psychological price zone. At the time of publication, an ounce of .999 fine gold is trading for $1,716.30 after jumping 1.7% in the last 24 hours.

Gold bugs and economists have been discussing Joe Bidens proposed $3 trillion stimulus package, and it could kickstart gold, silver, and other types of assets that are considered a hedge against inflation. Kitco Metals Jim Wyckoff said the dollars recent rise and the crazy Treasury yields are limiting buying interest.

The gold and silver market bulls need a fundamental spark, Kitco Metals senior analyst stressed. Wyckoff also noted that the top two PMs, gold and silver, saw technically-related selling pressure from the shorter-term futures traders amid still-bearish near-term charts. Meanwhile as gold has been in a slump, cryptocurrency markets have seen some fresh fervor after prices dropped from highs settled on March 13, 2021.

Moreover, the financial institution BNY Mellon has also published a comprehensive study on the attributes of the crypto asset bitcoin (BTC) and the PM gold. BNY Mellons report zeroes in on the controversial stock-to-flow ratio (S2F) and the creator Plan Bs alternative model called the stock-to-flow cross-asset model (S2FX).

The implication from this model is that as bitcoin gains more mainstream momentum and is viewed more like gold, the BNY Mellon report says. The scarcity value (as measured by S2F) and the subsequent halving will ultimately drive prices to the gold dot cluster and implied total market value.

The researchers at BNY Mellon are not buying the digital gold theory and highlighted that BTC fits the description of a nascent currency. Although the financial institutions report does say bitcoin can gold have similarities and that BTC could look up to the popular PM.

Bitcoin is also frequently compared to gold, BNY Mellons study notes. Indeed, there are many similarities and gold is a worthy role model for bitcoin. After all, gold has been accepted as a store of value and medium of exchange for centuries (nowadays, mostly as a store of value, almost none is used as a medium of exchange). We believe gold is also the only globally accepted currency that has circumvented the issue of sanctioning entities.

However, in mid-February 2021, BNY Mellon set up a digital currency unit that plans to hold, transfer, and issue bitcoin.

What do you think about golds recent performance and BNY Mellons bitcoin and gold comparisons? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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BNY Mellon Report Compares Bitcoin and Gold, Study Says 'Gold Is the Only Globally Accepted Currency' Economics Bitcoin News - Bitcoin News

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Bitcoin’s Got Talent crew talks Bitcoin culture and development on CoinGeek Weekly Livestream episode 8 – CoinGeek

Posted: at 10:42 am

On episode 8 of the CoinGeek Weekly Livestream, host Kurt Wuckert Jr. is joined by Bitcoins Got Talent main judgesIsaac Morehouse, Jack Liu, and River.

Bitcoins Got Talent (BGT) is the very first game show that revolves around Bitcoin and Bitcoin businesses. On each episode, individuals pitch their ideas and businesses to the main judges as well as one guest judge, and get business advice as well as critiqued before they are either approved to advance to the next round of the show or kicked off of the show.

Kurt begins the show by asking his guests how BGT got started, who had the idea for it, and the steps they took to get the show created.

According to Liu, [One of the ideas behind BGT is that] were all in this together, we would all like to see Bitcoin grow faster, so this is a way to give people some feedback and some ideas to think about early on in their project, and maybe that helps them take a better path.

River adds, Its also some limelight for the projects that are not well known. I think that was the reason I was so excited about it. To get people that arent recognized in the space and get their ideas out there and get them incentivized to build.

Morehouse, Liu, and River went on to talk about the most memorable pitches they have seen on BGT before expanding into questions regarding other Bitcoin apps and services that the trio plays a role in, such as Streamanity, Relayx, and Dimely.

Morehouse also made a soon announcement before giving the audience more insight into the economics of the Numpty Coin, which was recently listed on the RelayX decentralized exchange (REX), as well as the utility you can expect NPC to have in the future and how it could set a precedent for Streamanity content creators.

To find out more about Bitcoins Got Talent, the economics behind the Streamanity of the future, Jack Lius plans for Dimely, as well as Isaac Morehouses soon announcement, you are going to want to head over to the CoinGeek YouTube channel to watch CoinGeek Weekly Livestream episode 8.

You can check out the previous episodes of the CoinGeek Weekly Livestream on YouTube as well.

New to Bitcoin? Check out CoinGeeksBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoinas originally envisioned by Satoshi Nakamotoand blockchain.

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The Power of ETH and BCH: Smart Bitcoin Cash Project Highlights Innovative Sidechain Technology Bitcoin News – Bitcoin News

Posted: at 10:42 am

On Thursday, Bitcoin Cash proponents were introduced to a new website that features a project called Smart Bitcoin Cash or Smartbch for short. Essentially, the project is a sidechain for Bitcoin Cash that is compatible with Ethereums EVM and Web3 API, which means people will soon be able to leverage decentralized applications (dapps) without paying lots of money for transaction fees.

At the time of writing, Ethereum is the dominant chain when it comes to Web3 applications and decentralized finance. However, ethereum (ETH) fees to interact with a Web3 compatible dapp or some type of smart contract can be very expensive these days. The Smartbch project aims to change all that and the creators plan to make throughput as large as one billion gas every 15 seconds.

The new website called smartbch.org says the sidechain will essentially maximize throughput of EVM and Web3 tools. The website gives a person a comprehensive look at what Smart Bitcoin Cash aims to accomplish with a FAQ, documentation, community resources, and even jobs and bounties.

Smart Bitcoin Cashs innovation lies in libraries, the core components mentioned in the projects white paper notes. Instead of inventing fancy consensus and cryptographic algorithms, we decided to adopt another methodology: to develop low-level libraries with an aim to fully uncover the hardwares potential, especially its inherent parallelism. Ordinary users and developers are provided with a compatibility layer supporting EVM and Web3, so the optimized low-level close to the metal libraries themselves remain concealed by this layer of abstraction. During the implementation, we used the codename Moeing, which is added to the libraries names as prefix.

Smartbch leveraged five tools that will be greatly beneficial to the sidechains ecosystem. MoeingADS single-layer architecture, the MoeingEVM parallelized execution engine, the MoeingDB application-specific database, MoeingKV storage, and the MoeingAOT compiler for the EVM. The projects website notes that programmers can build a new playground for Bitcoin Cashs ecosystem and enlarge the user base.

Smartbch will also offer:

Bitcoin.coms newsdesk was the first to report on the Ethereum and Web3-compatible sidechain coming to Bitcoin Cash during the first week of March. Of course, the BCH community on Reddit loved the idea and many supporters wrote a comment about the project on r/btc.

We are working with the Smartbch team and have a test node running. Should have the Uniswap contract working this weekend, one programmer wrote on the forum. The first release of version 0.1.0 of Smartbch is now available and developers can help test a dapp on Smartbch. Programmers can also download the source code and start a single node testnet. At the time of publication, bitcoin cash (BCH) is exchanging hands for $560 per unit, up 2.3% during the last 24 hours.

What do you think about the Smartbch project and the Ethereum and Web3-compatible sidechain coming to Bitcoin Cash? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Smartbch

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Bitcoin uses as much energy as Sweden and is on course to use even more – Business Insider

Posted: at 10:42 am

As bitcoin surges to unprecedented value, the sprawling matrix of computers around the world that run its software is now consuming as much energy a year as Sweden, the latest calculations suggest.

The higher the price, the more electricity this network uses. Iran was recently rocked by power outages that were partly blamed on bitcoin. Bill Gates recently warned bitcoin was "not a great climate thing." U.S. Treasury Secretary Janet Yellan has called its energy use "staggering."

Conceived to defy central banks in the fallout of the financial crisis, bitcoin started life so counter-cultural that no one really knows who created it.

It has soared from around $10,000 through most of last year to around $58,000 now, thanks to investors who fear traditional currencies are set to lose value, an influx of traders who speculate on the future price, and Elon Musk who tweets that you can use it to buy Teslas. It is now seriously talked of as a potential new global reserve currency.

But as Wall Street banks roll out bitcoin services, they may find its environmental costs hard to balance with shareholders and customers who are increasingly conscious. Experts tell Insider that bitcoin faces a Catch-22.

Like the cryptocurrency itself, bitcoin's community is decentralized, defiant, and nebulous. No one can simply tell it to heed growing calls to reduce its carbon footprint.

Alex de Vries, a Dutch economist who created the Bitcoin Energy Consumption Index, estimates the electricity used has doubled since 2017 to between 78 terawatt hours (TWh) and 101 TWh a year. More than half of bitcoin miners in China, where most use coal.

Bitcoin has no physical form. "Mining" refers to its network of computers finding new tokens by having them solve complex calculations.

Hardware at the SberBit cryptocurrency mining equipment facility in Moscow, Russia, in 2017. Vyacheslav ProkofyevTASS via Getty Images

New tokens these calculations uncover are a reward to the miners for using their computing power and electricity to secure the network against hacks and record transactions on bitcoin's decentralized ledger, known as the blockchain.

As the price climbs, those running the vast networks of computers dedicated to solving these calculations can sell them and direct more computing power toward the network, creating a cyclical effect as they compete with other miners to find new bitcoin first.

SEE ALSO: Bitcoin mining can be a 'bridge' to a renewable energy future by supporting green projects, a leading North American miner says

De Vries thinks bitcoin's energy use will continue to climb as the prices rises and miners buy more hardware.

He forecasts the network could soon consume a staggering 200 TWh, as much energy as all data centers globally and equivalent roughly to London.

He said potential investors may be put off by bitcoin's eye-watering energy use, adding, "I think this will be a major problem for bitcoin."

But for bitcoin advocates, the fact it allows people to make transactions semi-anonymously and without third-party approval, outweigh the environmental costs.

Nic Carter, a bitcoin investor and partner at crypto-focused venture capital firm Castle Island Ventures, told Insider its energy use was "not a new debate."

"The costs of the dollar system are harder to comprehend but they are extremely real," he added.

The more bitcoin surges, the worse the problem becomes. Alain Pitton/NurPhoto via Getty Images

He said that if investors conscious of environmental impact refused to buy bitcoin "because it consumes energy like every other utility on the planet they are just doing themselves and their investors a disservice."

Twitter chief executive Jack Dorsey said late last year that cryptocurrencies "will eventually be powered completely by clean power, eliminating its carbon footprint and driving adoption of renewables globally ... Published estimates indicate bitcoin already consumes a significant amount of clean energy."

Bitcoin miners, incentivized to use renewable energy by government subsidies, have sought sustainable ways of fueling their computers.

One German company set up a mining facility under the fjords of Norway, using hydroelectricity to power its machines and the freezing water to cool them.

But estimates of how much bitcoin's overall energy use is green vary hugely.

In a 2019 study, cryptocurrency asset management firm CoinShares' analysis concluded the bitcoin network gets up to 74% of its electricity from renewables. But in a survey by Cambridge University's Judge Business School the same year, only 39% of miners said that their power came from renewables.

Renewables aren't the only way to use less energy.

Ethereum, the second largest cryptocurrency after bitcoin, has a total value of $200 billion compared to bitcoin's $1 trillion market capitalization and soared over the last year. Its energy demands spiked to 30 TWh per year, up from 7 TWh 12 months ago, according to de Vries' calculations.

It sought to cut its energy use by moving to a "proof-of-stake" algorithm, where, instead of miners who create new tokens as a reward for securing the blockchain, "stalkers" hold existing tokens and can commit or stake them to the network, generating new tokens and helping to validate transactions.

But De Vries said fixing bitcoin's energy dilemma this way would be impossible without fundamental changes to bitcoin.

Its miners and developers could vote for such a change but fundamental alterations to bitcoin's core software are broadly unpopular.

One proposal to make bitcoin better suited to small payments in 2017 caused such a schism that a group of miners decided to "fork" the blockchain and create a rival cryptocurrency called bitcoin cash.

Frances Coppola, an author on banking, finance, and economics, told Insider bitcoin needed to evolve if it is to solve the problem.

"I don't think the bitcoin industry is doing itself any favors by refusing even to accept that bitcoin's energy use is a problem, let alone do anything about it," she added.

De Vries added that, if traders, miners and advocates cannot address its environmental impact, government action "seems like an inevitable outcome."

Bitcoin may be set up to be distanced from authorities but, as hundreds of thousands dream of following its early investors into the ranks of the world's richest, it is attracting the type of attention governments cannot ignore.

India has proposed fining anyone who trades or owns bitcoin, As U.S. Treasury Secretary Yellan condemned its energy use, she also warned investors it was "extremely inefficient" and "often for illicit finance."

But De Vries added that, whatever happened, bitcoin would likely survive in some form.

He said it would "continue to exist as long as some people think it has value ... It may just not be the same market value as it has today."

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Techlash continues to batter technology sector – Brookings Institution

Posted: at 10:41 am

In our Brookings Press book, Turning Point: Policymaking in the Era of Artificial Intelligence published last year, John Allen and I note the backlash against technology that has reduced public support for many things digital. As an illustration, Pew Research Center surveys show people are worried about privacy intrusions, cybersecurity risks, and misinformation campaigns. Many individuals think the pace of technological change is advancing too rapidly and it is hard to distinguish fake from actual phenomena.

Now a new Edelman Trust Barometer poll shows how much more widely this techlash has spread. In the United States, trust in the technology sector has fallen from 78% in 2012 to 57% in 2021. Globally, tech sector trust has dropped from 77% to 68% during that time. In less than a decade, according to that firm, the public has grown far more suspicious about misinformation, personal privacy, 5G networks, and AI bias, among other things.

The decline of public trust in the technology sector has profound consequences for how people view digitization and options for government oversight and regulation. The precipitous drop over the past year is noteworthy because of the crucial role technology has played in the pandemic response. Due to COVID-19, people have shifted to online learning, telemedicine, remote work, and e-commerce.

In this situation of widespread technology utilization to cope with the social distancing requirements of the pandemic, one might imagine the public would see the benefits produced in at least some of these areas would outweigh the costs and the risks. COVID-19 forced what otherwise might have been five years of digital change into five weeks. Nearly everyone has grown quite dependent on technology to work, learn, and communicate. That should have boosted public confidence in technology.

Yet the loss of trust suggests many are not happy with the role technology plays in their pandemic lives and feel there are many problems that need to be addressed. Although digital connections helped them work remotely, a number are suffering from Zoom fatigue, misinformation, privacy loss, and social isolation. A significant percentage seems to feel that tech risks outweigh benefits.

In addition, widely reported problems with online learning platforms have frustrated students, parents, teachers, and administrators. Rather than boosting confidence, these issues have eroded public trust. Although technology enables some types of learning, some experts have concluded students learned far less from online platforms than what would have been the case with in-person classrooms.

If public opinion continues to trend in negative directions for the technology sector, both in the United States and around the world, it likely will broaden support for government actions that regulate technology, raise taxes, ban certain applications, and limit product rollouts seen as detrimental to humanity. A lack of public confidence will encourage political leaders to take tough regulatory actions and limit the freedom private companies have had for decades to develop new products, bring them to the marketplace, and engage in international commerce.

Already, we are seeing some signs of these tendencies. For example, some American government authorities have beefed up their enforcement actions and regulatory oversight. At the national level, the Federal Trade Commission and the Department of Justice have launched investigations into the competitive practices of leading companies. A number of firms are expecting antitrust enforcement to move into other sectors as well as many businesses are compiling data and making use of automation and digitalization.

Locally, there have been bans or moratoriums placed on facial recognition software usage by law enforcement, limits on Airbnb rentals, and restrictions on the gig economy. Rather than being seen as a positive force for economic and social development, local officials see possible AI-based biases, harms to legacy firms, and unfairness in the way workers get classified as independent contractors. People want policies that are friendlier to workers and more protective of basic human values. The public opinion developments documented this year by major polling firms signal a choppy and volatile environment ahead for technology firms.

It is not clear what tech leaders can do to overcome this mistrust. In a politicized and polarized environment, there have been drops in public support for many entities. And in the case of technology, people especially dont trust messengers that have the political and economic muscle of large internet platforms. But improving transparency regarding how algorithms work, taking public concerns seriously, and working with policymakers on guardrails that protect human values likely would strengthen public support for the sector. Making sure technology works for people is one of the most important things tech executives can do going forward.

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CodeCrew students honored for their work in the technology field – WREG NewsChannel 3

Posted: at 10:41 am

MEMPHIS, Tenn. Two Mid-South students were honored with prestigious achievements and awards for their work in the community.

For 14-year-old Johnathan Sherrill, it was about highlighting the injustice happening across the country. He and two other students came up with an idea to create an app allowing users to go through a day in the life of a middle-class Black man.

At the time there was the social injustice movement, the Black Lives Matter movement and we wanted to make an app for that, to explain it, he said.

The students are from CodeCrew, a non-profit organization serving underrepresented youth and empowering children and adults in the tech and innovator world.

I think its really important for people to know that even if you already have your own perspective, it is very important for you to step into another persons shoes to be able to better understand what it is that theyre saying to you, said Jayda Murray.

Sherrill and Murray were accepted into the Raising Good Gamers and Ted ED Talks program, one that supports students as they discover, explore and present their big ideas.

They are two of only 30 students worldwide to be selected in the after-school program. Its also an opportunity for recognition at the 2021 Games for Change Festival.

Sherrill, Murray and her sister Anaya also won first place in Tennessees Congressional App Challenge. This is the Murrays second win.

On their first win, Jayda and her sister submitted an app about campus safety for girls, giving them the tools to navigate from high school to college.

Theres some stats out there the Kaper Center put out a month ago that five percent of the workforce in tech is African American. Thats dismal, said CodeCrews Deputy Executive Director Kela Jones.

She said diversity in tech is a real, concerning problem. Its the result, she said, of students not knowing about the field and being exposed to it through school.

Those in CodeCrew are producers in technology. The organization has doubled its impacts since its start in 2015, serving hundreds of students in Memphis and across the country. Ninety-one percent of the students they serve are Black and Latinx, and ones with success stories or well on their way.

I wanted to graduate from a prestigious university, said Sherrill when asked about his future. I also want to diversify my portfolio by investing in bitcoins, stocks and becoming a successful entrepreneur.

I wish to be a game developer and a game designer, but I want to start my own company to be able to help other kids, added Murray.

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Technology And The Future Of Work In Finance: A Q&A With Paychexs CFO – Forbes

Posted: at 10:41 am

Finance teams are leveraging data to increase efficiency.

The future of work is here. Covid-19 accelerated mega-trends that were taking shape, like hybrid work schedules or virtual customer service. But a less discussed aspect of work is time utilization by high-skilled employees.

To find out more about this, I spoke with Efrain Rivera, the CFO of HR outsourcing firm Paychex, about how the Covid-19 pandemic has enabled remote work and leveraged data and automation to increaseemployee efficiency in finance. We also discussed the outlook for small businesses this year and beyond, and how finance leaders can help give back to their communities during a time of significant hardship.

Jeff Thomson: The Covid-19 pandemic has led to both a mass transition to remote work and substantial downsizing at many businesses. There will likely be long-term impact, even as the economy recovers. How are Paychexs products and services helping businesses navigate this accelerated future of work? What role does technology play in enabling businesses to be more remote and nimble, especially within the finance function?

Efrain Rivera: Paychex was well-prepared for the acceleration of the future of work. Years ago, we recognized a shift occurring in the workplace and invested in innovation to ensure we could meet those needs. Our Paychex Flex platform is a cloud-based SaaS solution. This, along with our 5-star mobile app and self-service functionality, allows clients and their employees to have access to our portal, along with data and reporting, from anywhere, at any time, and on any device. Some of our recent innovations, including HR Conversations and HR Connect, help clients to communicate and engage directly with their remote workforce. Finally, with more than 200 compliance experts and 600 HR professionals across the U.S., Paychex has the expertise and support needed to help clients navigate the business impacts of the Covid-19 pandemic and accelerated trends in the workplace.

When thinking specifically about how technology has impacted the finance function, cloud-based technology allows companies to be nimble, providing faster and more frequent access to data across devices. Technology has also made it possible for finance professionals to analyze large amounts of data, offering insights that help businesses make strategic decisions. Using technology to automate more transactional tasks or data manipulation empowers finance professionals to spend more time on value-added work, such as analyzing the data and drawing useful insights.

Thomson: Automation and other technologies are viewed by many as job destroyers. But for the finance professional these technologies can actually liberate them to perform higher-level functions related to strategic decision-making and analysis. What role does your company play in assisting HR with redeployment of human capital?How critical is it for todays finance and accounting professionals to upskill in areas like data analytics, RPA or intelligent automation in order to stay relevant?

Rivera: At Paychex, our finance team helps to establish and track different productivity and efficiency metrics that can be used to optimize the use of human capital. We also utilize cost benefit models to evaluate scenarios. Were also focused on helping our business partners understand their organizations financial objectives and targets.

Skills in areas such as data analytics, RPA or intelligent automation are absolutely critical for todays finance professionals. Within the finance organization at Paychex, weve started to bring in analysts from outside of our functional area who have data analytics and technology automation skills. In addition to that, within our Risk group, which is part of my broader organization, we have a dedicated data science team that analyzes data and develops predictive models. Our finance and data science teams frequently partner.

Thomson: As the nature of work evolves, higher education is going to have to catch up, ensuring that students are learning the right skills for an age of software, automation and flexible employment. As a finance leader, what do you think finance and accounting programs should be emphasizing to the rising generation of professionals? What about traditional finance education is still valuable, and what is obsolete?

Paychex CFO Efrain Rivera

Rivera: Finance and accounting programs need to emphasize how to leverage data to gain insights.Every organization has data and the concept of big data is a hot topic. However, todays financial analysts need to be able to interpret the data to gain insights. Most organizations arent yet good at using big data to generate big insights. Analysts need to understand the business to know how to apply the data and leverage those insights.

When thinking about a traditional finance education, its not so much that anything is obsolete, but rather that the focus has changed. Things are moving and evolving so quickly that the timeframe in which we look at the world is much shorter its more 2-3 years out vs. the traditional 5- to 10-year outlooks.

Thomson: Paychexs client base is comprised largely of small and medium-sized businesses, and Paychex, along with IHS Markit, maintains a Small Business Employment Watch index measuring employment and pay in this sector. The Covid-19 pandemic has taken a major toll on small businesses. What are your forecasts for this sector over the coming year and beyond? What insights would you have for CFOs and other finance leaders (or owners) of small and medium-sized businesses?

Rivera: Small businesses have been surprisingly resilient during this challenging economic environment.The government stimulus has helped many small businesses hang on. The economic shock of the COVID-19 pandemic has played out differently than we have seen in prior recessions. We anticipate that small businesses will continue to recover gradually over the next several months as lockdowns ease and people return to work.

For finance leaders of small and medium-sized businesses, the past year has demonstrated just how imperative it is to have a playbook to execute on for different scenarios, including a macroeconomic shock or economic downturn.

Thomson: You serve on the board of two Rochester-based non-profit organizations, ESL Federal Credit Union, which works to economically empower upstate New York residents and Rochester Regional Health, which works to provide affordable healthcare to upstate New York residents. Can you discuss your strong connections to upstate New York and why you are passionate about economic empowerment and affordable healthcare for under-served populations? How do these volunteer roles make you a better CFO?

Rivera: I am fortunate that Paychex allows its executives to give back to the communitieswhere employees work. Western New York has immense challenges stemming from, among other things, income disparities. Western New York also has significant strengths. The organizations I serve on address those issues as part of their mission, they strive to make the community better and [they] are led by excellent leadership teams. I continually learn something new through my service and it helps to ground me and make me a better executive.

This article has been edited and condensed.

Originally posted here:

Technology And The Future Of Work In Finance: A Q&A With Paychexs CFO - Forbes

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Options Technology Announces Acquisition of Fixnetix from DXC Technology – Business Wire

Posted: at 10:41 am

LONDON & NEW YORK--(BUSINESS WIRE)--Options Technology, a leading provider of IT infrastructure to global Capital Markets firms backed by Abry Partners, today announced it had closed on its acquisition of Fixnetix, a DXC Technology Company (NYSE: DXC). Financial terms of the agreement were not disclosed.

Fixnetix provides outsourced front-office trading services to investment banks, hedge funds, proprietary trading firms and exchanges worldwide and was part of DXCs global banking and capital markets business. This deal supports Options growth strategy and combines two industry leading teams committed to optimising the service offered to their customers across the financial sector. As a result of the acquisition, clients can avail of the extensive market data footprint covering the US, European and Asian Markets alongside ground-breaking R&D capabilities, including industry leading automation, monitoring and testing competences.

We are excited to reach this important milestone with Fixnetix and view this acquisition as an opportunity to expand our service capabilities whilst providing further value for our customers and the overall market, said Danny Moore, Options President and Chief Executive Officer. Fixnetix and Options are highly complementary, and the deal combines Options comprehensive coverage in the US and Asia with Fixnetixs European offering, allowing us to provide existing customers with the agility they need to respond to rapid changes in market dynamics.

Tomer Yosef-Or, a Partner at Abry, said, We are delighted to be able to support Options in this exciting transaction. We continue to be impressed by the Fixnetixs teams capabilities and believe the combination, supported with our capital, will provide enhanced quality and breadth of services to existing and new customers. The collaboration we have already seen between the two companies gives us great optimism in the ultimate potential for the organization. We are excited to bring this transaction to a close and move forward together with the united strategy of building a leading and differentiated global IT Managed Service Provider highly focused on the financial services vertical.

About Options (www.options-it.com):

Options Technology is the No. 1 provider of IT infrastructure to global Capital Markets firms, supporting their operations and ecosystems.

Founded in 1993, the firm began life as a hedge fund technology services provider. Today, the company provides high-performance managed trading infrastructure and cloud-enabled managed services to over 200 firms globally, providing an agile, scalable platform in an Investment Bank grade Cybersecurity wrapper.

Options clients include the leading global investment banks, hedge funds, funds of funds, proprietary trading firms, market makers, broker/dealers, private equity houses and exchanges. With offices in 8 key cities; New York, Toronto, Chicago, London, Belfast, Hong Kong, Singapore and New Zealand, Options are well placed to service their customers both on-site and remotely.

In 2019, Options secured a significant growth investment from Abry Partners, a Boston-based sector-focused private equity firm. This investment has enabled Options to considerably accelerate its growth strategy to invest further in its technology platform and expand its reach in key financial centres globally.

Options has been named among the UKs leading growth companies in the 2021, 2020, 2019, 2018 and 2017 Sunday Times HSBC International Track 200 league table.

For more on Options, please visit http://www.options-it.com, follow us on Twitter at @Options_IT and visit our LinkedIn page.

About Abry Partners (www.abry.com)

Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $82 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across their active funds.

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Options Technology Announces Acquisition of Fixnetix from DXC Technology - Business Wire

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Wireless Gigabit Market with COVID-19 impact by Product, Technology, Protocol, End-use and Geography – Global Forecast to 2026 – PRNewswire

Posted: at 10:41 am

DUBLIN, April 1, 2021 /PRNewswire/ -- The "Wireless Gigabit Market with COVID-19 impact by Product (Display Devices and Network Infrastructure Devices), Technology (SoC and IC Chips), Protocol (802.11ad and 802.11ay), End Use, and Geography - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global wireless gigabit market size is estimated at USD 19 million in 2021. It is projected to reach USD 70 million by 2026; it is expected to grow at a CAGR of 29.8% from 2021 to 2026.

The increasing need for faster data transfer, coupled with the advantages of the 60 GHz frequency band such as unlicensed availability, high-speed data transfer rates, and highly secure and virtually interference-free operations, is expected to drive the market from 2021 to 2026. However, the short operating range of wireless gigabit products could challenge the adoption of this technology.

COVID-19 has affected the production capacities and financial conditions of the providers of wireless gigabit-enabled devices. The pandemic has resulted in a widespread health crisis, which is adversely affecting the financial markets and economies of countries and end-users. This is expected to lead to an economic downturn and negatively affect the wireless gigabit market in the short term.

The market for network infrastructure devices to witness high-growth potential during the forecast period

Wireless gigabit technology has gained significant importance over the past few years, especially for network infrastructure devices. The market for network infrastructure devices is projected to grow at the highest CAGR from 2021 to 2026. Market players such as Netgear, IgniteNet, Ubiquiti Inc., Siklu, and Aruba are offering 60 GHz wireless network infrastructure devices and solutions to grow their client base and business. The need for devices with high data throughput is likely to drive the wireless gigabit market for the network infrastructure devices segment during the forecast period.

The wireless gigabit market in networking end-use to grow at the highest CAGR during the forecast period

The market for the networking segment is expected to witness considerable growth during the forecast period. The major reason for this trend is the use of wireless gigabit technology for small cell backhaul applications. The emergence of 60 GHz FWA solutions is expected to eliminate the need for fiber deployments, especially in areas where infrastructure is poor. The rising demand for fiber-grade connectivity globally is expected to create demand for cost-effective FWA infrastructures.

North America to be the largest market for wireless gigabit during the forecast period

North America is one of the leading markets for 60 GHz technology in terms of R&D, network design/development, and the presence of key market players. Many areas in the region lack access to broadband internet. The 60 GHz mmWave technology holds considerable potential and is expected to be used to provide fixed broadband wireless solutions in the region. This is expected to drive the wireless gigabit market in the region.

The COVID-19 pandemic has significantly disrupted the global supply chains, resulting in the slow growth of various display devices such as AR/VR headsets and smartphones. However, in North America, the pandemic has not shifted the outlook for FWA solutions significantly. The pandemic has created a demand for replacing the capacity lost in damaged networks and establishing new broadband connections to locations such as temporary hospitals in large convention centers and field hospitals in parks.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights4.1 Attractive Opportunities in Global Wireless Gigabit Market4.2 Wireless Gigabit Market, by Product4.3 Wireless Gigabit Market, by End Use4.4 Wireless Gigabit Market, by Protocol4.5 Wireless Gigabit Market, by Country

5 Market Overview5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Benefits of 60 GHz Frequency Band5.2.1.2 Need for Faster Data Transfer5.2.2 Restraints5.2.2.1 Increasing Chipset Manufacturing Costs with Development of Complex Embedded Wigig Chipsets5.2.3 Opportunities5.2.3.1 Rapid Growth of Next-Generation Computing Devices5.2.3.2 Use of V-Band Mmwave for Last-Mile Connectivity5.2.4 Challenges5.2.4.1 Short Operating Range of Wireless Gigabit Products5.3 Value Chain Analysis5.4 Ecosystem5.5 Porter's Five Forces Analysis5.5.1 Threat of New Entrants5.5.2 Threat of Substitutes5.5.3 Bargaining Power of Suppliers5.5.4 Bargaining Power of Buyers5.5.5 Intensity of Competitive Rivalry5.6 Case Studies5.6.1 Pro-Data Service Installed 60 GHz Wireless Radio5.6.2 Ccs Provides An Ultra-Fast Fwa in Broadband in Soho (London)5.7 Technology Trends5.7.1 Virtual Reality5.7.2 Wireless Networking5.7.3 Fixed Wireless Access5.8 Pricing Analysis5.9 Trade Analysis5.10 Patent Analysis5.11 Market Regulations

6 Wireless Gigabit Market, by Product6.1 Introduction6.2 Display Devices6.2.1 Smartphones6.2.1.1 Smartphones Segment is Projected to Dominate Wigig-Enabled Display Devices Market During Forecast Period6.2.2 Laptops & Tablets6.2.2.1 Wireless Gigabit Technology Failed to Witness Adoption in Mass-Market Laptops and Tablets6.2.3 Others6.2.3.1 High Bandwidth, Low Latency, and Resistance to Interference Provided by 60 Ghz Wireless Connection Are Expected to be Beneficial for Vr Entertainment Systems6.3 Network Infrastructure Devices6.3.1 Routers & Access Points6.3.1.1 802.11Ad Routers Are Expected to Support Older Standards to Achieve Long-Range Wireless Connectivity6.3.2 Adapters6.3.2.1 Demand for High-Throughput Services Such as High-Resolution 4K Video Streaming, Wireless Docking, Virtual Reality, and Cloud Backup is Expected to Drive Wireless Gigabit-Enabled Adapters Market6.3.3 Backhaul Stations6.3.3.1 60 GHz is Likely to Become An Ideal Solution for 4G/5G Small Cell Backhaul Links Due to Cost-Effectiveness6.3.4 Docking Stations6.3.4.1 Docking Stations Are Likely to Help Transform Laptops and Other Mobile Devices into Fully Functional Workstations

7 Wireless Gigabit Market, by End Use7.1 Introduction7.2 Consumer Electronics7.2.1 Wigig Technology Has Limited Applications in Consumer Electronics7.3 Networking7.3.1 60 GHz Technology is Expected to Gain Widespread Momentum in Networking Applications During Forecast Period7.4 Commercial7.4.1 Wireless Gigabit Technology Can Offer Flexible Connectivity Between Devices and Peripherals in Offices, Classrooms, and Conference Rooms

8 Wireless Gigabit Market, by Protocol8.1 Introduction8.2 Ieee 802.11Ad8.2.1 802.11Ad Offers Advantages Such as High Data Rates, Low Latency, High Capacity, and Better Battery Efficiency8.3 802.11Ay8.3.1 Improved Transmission Rate and Distance Offered by 802.11Ay Are Expected to Improve Performance of Wireless Gigabit Devices

9 Wireless Gigabit Market, by Technology9.1 Introduction9.2 System on Chip (Soc)9.2.1 Soc Technology is Being Increasingly Used to Reduce Power Consumption and Improve Overall Performance of Wireless Devices9.2.2 Wigig Socs for Smartphones9.2.2.1 Benefits Associated with Soc Have Driven Their Adoption in Smartphones9.2.3 Wigig Socs for Adapters9.2.3.1 Soc Adapters Have Significant Potential and Are Expected to Provide Growth Opportunities to Market Players9.2.4 Wigig Soc for Backhaul Stations9.2.4.1 60 GHz Frequency Band is Viewed as a Primary Technology of Choice for Small Cell Backhaul9.3 Integrated Circuit Chip (Ic Chip)9.3.1 Majority of Gigabit Ic Manufacturers Are Tapping Ieee 802.11Ad Market Due to Increasing Need for High-Speed Communications

10 Geographic Analysis10.1 Introduction10.2 North America10.2.1 US10.2.1.1 US to Drive Wireless Gigabit Market in North America10.2.2 Canada10.2.2.1 Canada Holds Significant Opportunities for Wireless Gigabit Market Growth in North America10.2.3 Mexico10.2.3.1 Wireless Gigabit Market in Mexico to Grow at a Slower Pace Than in US and Canada10.3 Europe10.3.1 UK10.3.1.1 UK is Anticipated to Dominate Wireless Gigabit Market in Europe10.3.2 Germany10.3.2.1 Germany is An Attractive Market for Wireless Gigabit Products10.3.3 France10.3.3.1 France is One of the Fastest-Growing Markets for Wireless Gigabit in Europe10.3.4 Rest of Europe10.4 Asia-Pacific10.4.1 China10.4.1.1 China is the Largest Market for Wireless Gigabit Globally10.4.2 Japan10.4.2.1 Availability of Unlicensed 60 GHz Band in Japan Will Support Market Growth10.4.3 South Korea10.4.3.1 Extensive Research Activities and Strong Semiconductor and Electronics Cluster Are Likely to Drive Wireless Gigabit Market10.4.4 Rest of APAC10.4.4.1 60 GHz Wireless Can Potentially Reduce Costs and Speed Up 5G Small Cells Deployment10.5 Rest of the World (Row)10.5.1 Middle East and Africa10.5.2 South America

11 Competitive Landscape11.1 Introduction11.2 Revenue Analysis of Top 3 Companies11.3 Market Share Analysis, 202011.4 Company Evaluation Matrix11.4.1 Star11.4.2 Pervasive11.4.3 Emerging Leader11.4.4 Participant11.5 Small and Medium-Sized Enterprises (SME) Evaluation Quadrant, 202011.5.1 Progressive Companies11.5.2 Responsive Companies11.5.3 Dynamic Companies11.5.4 Starting Blocks11.6 Wireless Gigabit Market: Company Footprint11.7 Competitive Situations and Trends

12 Company Profiles12.1 Key Players12.1.1 Qualcomm Incorporated12.1.2 Sivers Semiconductors AB12.1.3 Intel Corporation12.1.4 Peraso Technologies Inc.12.1.5 Tensorcom Inc.12.1.6 STMicroelectronics12.1.7 Broadcom Inc.12.1.8 NXP Semiconductors12.1.9 Advanced Micro Devices, Inc.12.1.10 Infineon Technologies Ag12.1.11 Blu Wireless12.2 Other Key Players12.2.1 Netgear, Inc.12.2.2 Ubiquiti Inc.12.2.3 Siklu Communication Ltd.12.2.4 Samsung Electronics Co. Ltd.12.2.5 Socionext Inc.12.2.6 Hisilicon (Shanghai) Technologies Co. Ltd.12.2.7 Asustek Computer Inc.12.2.8 Mikrotik12.2.9 Millitronic12.2.10 Airvine12.2.11 Lightpointe Communications, Inc.12.2.12 Pasternack Enterprises Inc12.2.13 Aruba12.2.14 Cambridge Communication Systems12.2.15 Wireless Excellence Limited

13 Appendix13.1 Insights of Industry Experts13.2 Discussion Guide13.3 Knowledge Store: Subscription Portal13.4 Available Customizations13.5 Related Reports13.6 Author Details

For more information about this report visit https://www.researchandmarkets.com/r/v5at0t?

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Wireless Gigabit Market with COVID-19 impact by Product, Technology, Protocol, End-use and Geography - Global Forecast to 2026 - PRNewswire

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