The Prometheus League
Breaking News and Updates
- Abolition Of Work
- Ai
- Alt-right
- Alternative Medicine
- Antifa
- Artificial General Intelligence
- Artificial Intelligence
- Artificial Super Intelligence
- Ascension
- Astronomy
- Atheism
- Atheist
- Atlas Shrugged
- Automation
- Ayn Rand
- Bahamas
- Bankruptcy
- Basic Income Guarantee
- Big Tech
- Bitcoin
- Black Lives Matter
- Blackjack
- Boca Chica Texas
- Brexit
- Caribbean
- Casino
- Casino Affiliate
- Cbd Oil
- Censorship
- Cf
- Chess Engines
- Childfree
- Cloning
- Cloud Computing
- Conscious Evolution
- Corona Virus
- Cosmic Heaven
- Covid-19
- Cryonics
- Cryptocurrency
- Cyberpunk
- Darwinism
- Democrat
- Designer Babies
- DNA
- Donald Trump
- Eczema
- Elon Musk
- Entheogens
- Ethical Egoism
- Eugenic Concepts
- Eugenics
- Euthanasia
- Evolution
- Extropian
- Extropianism
- Extropy
- Fake News
- Federalism
- Federalist
- Fifth Amendment
- Fifth Amendment
- Financial Independence
- First Amendment
- Fiscal Freedom
- Food Supplements
- Fourth Amendment
- Fourth Amendment
- Free Speech
- Freedom
- Freedom of Speech
- Futurism
- Futurist
- Gambling
- Gene Medicine
- Genetic Engineering
- Genome
- Germ Warfare
- Golden Rule
- Government Oppression
- Hedonism
- High Seas
- History
- Hubble Telescope
- Human Genetic Engineering
- Human Genetics
- Human Immortality
- Human Longevity
- Illuminati
- Immortality
- Immortality Medicine
- Intentional Communities
- Jacinda Ardern
- Jitsi
- Jordan Peterson
- Las Vegas
- Liberal
- Libertarian
- Libertarianism
- Liberty
- Life Extension
- Macau
- Marie Byrd Land
- Mars
- Mars Colonization
- Mars Colony
- Memetics
- Micronations
- Mind Uploading
- Minerva Reefs
- Modern Satanism
- Moon Colonization
- Nanotech
- National Vanguard
- NATO
- Neo-eugenics
- Neurohacking
- Neurotechnology
- New Utopia
- New Zealand
- Nihilism
- Nootropics
- NSA
- Oceania
- Offshore
- Olympics
- Online Casino
- Online Gambling
- Pantheism
- Personal Empowerment
- Poker
- Political Correctness
- Politically Incorrect
- Polygamy
- Populism
- Post Human
- Post Humanism
- Posthuman
- Posthumanism
- Private Islands
- Progress
- Proud Boys
- Psoriasis
- Psychedelics
- Putin
- Quantum Computing
- Quantum Physics
- Rationalism
- Republican
- Resource Based Economy
- Robotics
- Rockall
- Ron Paul
- Roulette
- Russia
- Sealand
- Seasteading
- Second Amendment
- Second Amendment
- Seychelles
- Singularitarianism
- Singularity
- Socio-economic Collapse
- Space Exploration
- Space Station
- Space Travel
- Spacex
- Sports Betting
- Sportsbook
- Superintelligence
- Survivalism
- Talmud
- Technology
- Teilhard De Charden
- Terraforming Mars
- The Singularity
- Tms
- Tor Browser
- Trance
- Transhuman
- Transhuman News
- Transhumanism
- Transhumanist
- Transtopian
- Transtopianism
- Ukraine
- Uncategorized
- Vaping
- Victimless Crimes
- Virtual Reality
- Wage Slavery
- War On Drugs
- Waveland
- Ww3
- Yahoo
- Zeitgeist Movement
-
Prometheism
-
Forbidden Fruit
-
The Evolutionary Perspective
Daily Archives: June 28, 2021
Fix The Money, Fix The World – Bitcoin Magazine
Posted: June 28, 2021 at 10:47 pm
Bitcoin 2021. Miami.
This is an article which formed the basis of my talk at Bitcoin 2021 in Miami (see video above) and was inspired by the longer-form article I wrote a couple of months back entitled Fiat, Fascism And Communism:
Fiat, Fascism And Communism
My intent during the talk, and in this article here, is to remind you, the reader, of what you may already know or what perhaps you are starting to slowly realize about Bitcoin.
Yes. Bitcoin is the most important economic decision youll make in your entire life. Nothing else comes close. In fact, its probably the most asymmetric economic opportunity any group of people will ever have had, in the history of humanity. And youre lucky enough to be alive during this period.
Bitcoin is the final Cantillon opportunity in the sense that by reading this, youre early enough and close enough to the greatest wealth transfer in documented history. That is a big deal.
But no, thats not what Im here to talk to you about. NgU technology is important, and of course its the centerpiece of the Bitcoin flywheel, but I dont need to remind you of that.
What I want to remind you of is the moral duty of moving into Bitcoin. Its at the core of why were all here, whether you realize it or not.
The world is being overrun by collectivist statists and central planners of every kind. You see it all around us. Whether theyre democratic, or conservative, fascist or communist, socialist, globalist, MMTist, utopian or another misshapen form or blend of authoritarian dictator it doesnt matter.
They are tearing apart what humans have built for millennia, theyre sucking the energy, will and passion out of people, turning them into empty automatons and their short-sighted stupidity is going to drive us back into the Dark Ages.
The soulless gaze of an individual who owns nothing and has no privacy. Source: Twitter.
Bitcoin and Bitcoiners are here to change that, not by replacing one group of arbitrary rulers with another, but by removing rulers altogether and replacing them with a set of verifiable, incorruptible rules that nobody can take advantage of at the expense of someone else.
Source: Reddit
When the means via which human action is measured, stored and transacted is OUTSIDE of the hands of any group, organization, foundation, institution or state, we have TRUE equality of opportunity.
Until then, we have stagnation. We have corruption. We have theft. We have waste. We have poverty. We have wealth redistribution by bureaucrats (the dumbest of the dumb in society). We have environmental destruction. We have state indoctrination instead of schooling. We have the oppression Olympics, where everyone is a victim. We have sludge instead of food. We have scientism instead of science.
Bitcoin rug-pulls the statists and changes not only the returns to violence as discussed in The Sovereign Individual, but it transforms each individuals relationship to time, their future and natural resources.
When the individual changes their behavior for the better, the world changes for the better.
That is why Bitcoin fixes this. You start with the individual and spread outward.
So, lets look at Bitcoins impact on the world in a few key areas.
Fiat standard on the left, Bitcoin standard on the right.
Classes will always exist in human society. Its normal and perfectly natural. People are different and dynamic. We excel at different things, we apply different levels of effort, we have varying degrees of talent, were born to parents of a different level of competence and have teachers and friends throughout life who all impact us in different ways.
The result is an unequal distribution of wealth and resources. Which is, once again, perfectly fine. That is natural in a society that is layered, diverse and multifaceted.
The problem is more nuanced. We dont have natural 80/20 inequality anymore (pareto-type distributions), but we have completely unnatural inequality (99.9/0.1 distributions).
This is something very few seem to understand, even people who I highly admire, like the Jordan Petersons of the world. They seem to think that, somehow, concentration of wealth (for example) can continue unabated without some form of rigging the game.
I like to differentiate inequality as follows:
Static Inequality
This is the bad kind. Its the world we live in today and its the kind that continues to make the poor poorer and the rich richer because whoever controls the rules of the game (the money) can play heads I win, tails you lose. Its central feature is moral hazard and the goal as the ruler is to remove skin from the game (i.e., someone else pays the consequence for your bad decisions).
Dynamic Inequality
This is the good kind, in which everyone is playing by the same rules, everyone has skin in the game, you can move up the social hierarchy and, just as importantly, if you make stupid decisions you can move down the social hierarchy. A key characteristic of this type of natural, complex system is a beautiful, dynamic equilibrium that forms over time because social mobility is tied to competence, effort, value and energy.
How does Bitcoin fix this?
The central banking, statist and government model today is the bastion of moral hazard. You have the public officials with zero skin in the game making decisions on behalf of us and our future generations, with no regard to the cost or the consequences of such decisions.
In a similar vein, central banks, banks, Wall Street, tech oligopolies and anyone else who is close to the monetary spigot can privatize any gains they make, and then socialize any losses theyve incurred.
Boeing is a great example from 2020. You and I paid for it to stay in business. It stayed at the top of the hierarchy and us idiots in the middle funded it. Todays tech giants are similar. They are major beneficiaries of the ridiculous amount of money being created, borrowed and subsequently handed to Wall Street, who then ploughs it into their stock. They become unnaturally strong and any upstart with a better product or service has no chance of competing.
You wonder why censorship is such a problem? Its not a lack of some decentralized alternative that nobody is ever going to use. Its a lack of viable competition.
Break the corrupt game of fraudulently concentrating wealth through direct and indirect confiscation (taxation, inflation, regulation) and you re-introduce competition into the system. With competition, you begin to get quality.
When a business requires customers in order to survive, they treat them well. When a business can get bailed out or be the recipient of all the free money being created by the bureaucrats, then it doesnt give a shit about its customers. It can censor them, force them to breathe through face diapers and much more.
Anyway, I digress.
The world we live in today is split into feudal-like castes or classes that are extraordinarily difficult for individuals to move between.
If youre at the bottom, you cannot climb because the product of your labor (the money you earn) is being debased faster than you can earn it. You barely have enough to feed yourself and youre completely disincentivized to save.
Savings are the cornerstone of civilization. One cannot climb without having a foundation upon which to build. Its like building a house made of sand, on ground made of quicksand.
The result? Youre stuck at the bottom, and relatively speaking, you get poorer as time passes.
It gets worse. If youre at the top, and parasitic enough to stay there, you not only have access to more, but what really decays the system is that you can privatize any gains you make and socialize your fuck ups. You can stay at the top fraudulently and this is just as bad for the system as being stuck at the bottom. This is how the system rots (to quote Nassim Taleb, the IYI).
And who foots the bill for this entire thing? Me, you, your friends and your family. The productive engine of society. The middle class (whether lower, mid- or upper) who produce most of everything, we pay for it all.
We support the poor, and we simultaneously pay the jailers to keep us enslaved. Its pretty messed up.
This concept right here, the transformation from static inequality to dynamic inequality, is what I believe Bitcoins greatest impact on the world will be.
The right-hand side of the diagram above is what Bitcoin enables. A playing field in which classes of people will still exist, but that are separated by a permeable membrane.
Yes, if youre broke, poor and young, youre going to have to work to climb, but the product of your labor cannot be debased, and your time, effort and energy can be better valued. You have a solid foundation upon which to build your wealth.
If youre at the top, and you got there through competence and merit, you must either keep producing to stay there, or invest in other up and coming entrepreneurs/producers who are climbing and building value for everyone in the stack. At the same time, if youre at the top through luck, or you were early and youre either a parasite, a moron, you make bad decisions or you just want to blow your wealth on hookers and coke, you will fall down the social hierarchy. You can no longer stay there at someone elses expense.
This means each individual is not only free to do what they want, but each individual bears the cost of their decisions and the fruits of their labor.
This has profound implications on society, moral behavior, meaning, time preference, the environment, generational wealth, art and so much more which will require a book. Ill save that for later 🙂
Next up, we have the environment.
There are other writers, namely Hass McCook and Nic Carter, whove both written at length about this topic, so I wont rehash their work.
You can check it out for yourself and discover that Bitcoin is far more efficient than the infrastructure required to support the existing monetary and financial system.
I will also point out that there is a lot of talk about using renewables to support Bitcoins hash rate and network security. I dont entirely buy that because I believe that unreliable, dilute energy capture mechanisms are far worse for not only the environment (you have all the energy input upfront, which rarely gets paid back) but for human prosperity (how much better were able to allocate our time when we have energy abundance), and as the backbone for the most reliable money to ever exist.
But again thats another topic, and for now, Bitcoin is not only more efficient, but its actually making those unreliable forms of renewable energy more useful than they would otherwise be.
My argument for Bitcoins impact on the environment goes deeper.
My contention is that the greatest harm we can do to the planet is to pollute without consequence and waste scarce natural resources on moronic mandates and ridiculous pipe dreams conjured up by statists, bureaucrats, academics and governments who dont pay the bill for the damages (you, me and the natural environment do).
Its possible that more than 10 billion masks are disposed of monthly, according to the author of this article. Image source: Twitter.
Money literally measures time, energy and scarce resources (matter).
When money is fake, valueless, meaningless and has no basis in thermodynamic reality, the things that it represents are squandered and wasted.
The existing monetary system is literally burning up the worlds resources and our collective lifeblood because they can produce money out of thin air, and waste it!
In this way, by supporting the fiat monetary system you are directly destroying the environment!!!
Furthermore, because human time and energy, when directed toward productive ends, means the creation of better, more energy efficient products and services, by cutting the bureaucratic waste out of the system we further help the broader natural environment by using the capital stock more intelligently (were confronted with the reality of its cost).
The natural incentive of the productive individual is to do more with less.
This is actually the very essence of capitalism. Its the process of taking scarce time, energy and natural resources and transforming them into something of higher value and utility.
Capitalism is the transformation of chaos into higher order.
The implications of Bitcoins impact on the environment and the more sustainable and efficient use of energy and resources is staggering.
I imagine we could likely feed 100 billion people, transform the toughest of terrains, green the desserts, clean up the oceans, master energy production and learn to build gardens and monuments, instead of barren concrete wastelands.
Source: Twitter
I wrote about this in more length in Fiat, Fascism And Communism, and will dedicate an article to just this topic, but suffice it to say the following:
Once again, the state not only produces the absolute worst product imaginable, but they do it with your money, that you worked for, that they took from you at the point of a gun or the threat of imprisonment.
Dont believe me? Try not paying your taxes for a few years, and see what happens. Even if you dont use any of their shitty services.
Its like walking into a shop to buy a new sofa. As you walk in, the agent punches you in the face, takes a dump on the sofa and charges you triple for taking it.
On a Bitcoin standard this wont happen. Their entire eDucAtIoN system will collapse, and hallelujah for that.
Parents are far better educators for their kids*, the internet has made better education cheaper and practically free to just about anyone, anywhere and there are millions of brilliant teachers, educators, philosophers, writers and mentors who will have the opportunity to build their own centers of excellence, whether large or small.
*Yeah, I know, there are a few asshole exceptions, but you dont handicap the vast majority of good parents for the few dipshits.
I wont go into much here except to state that as the sound money foundation broadens and solidifies, the system will naturally re-introduce accurate price signals and true information will flow orders of magnitude more efficiently.
Money is the fabric that binds us all. It measures human action and is used by humans to measure subjective value. One of its most important functions is to transmit information and it does so with prices.
If you fuck with the money, you fuck with the transmission of information and those on the receiving end make the wrong decisions, which then creates a positive feedback loop (with a negative consequence) that further spirals the system out of control. And while there are rational players in the system which counteract some of the madness, when the transmission medium is broken, theres only one destination: destruction, waste, misallocation.
Our mOdeRn eCOnoMy looks like this guy here:
With Bitcoin, we fix this too.
Bitcoin is an information and energy superconductor.
- Svetski, Bitcoin, Chaos And Order
When price signals are accurate, when the right information is flowing, we can discover not only opportunity, but truth. The result will be the creation of solutions for the biggest problems, because that is where the greatest opportunities lie.
Need is what drives demand, which in turn is what drives supply, which is what incentivizes the producer.
Need Demand Supply Production Entrepreneur/Producer.
Today, we have a completely deformed economy where money filters through to moron VCs and bankers who believe that what people need is another dick pic app, or convoluted gambling platform disguised as fintech.
They pump money into these dumb ideas, they then market the shit out of them on the mainstream and social media networks that they also fund and control, and we all wonder how we become users of the next dumb app that nobody needs or wanted in the first place.
Meanwhile, over in Africa, Latin America, Eastern Europe and Southeast Asia, people are dying of starvation, living in the dirt, in the darkness, with no clean water or clothes.
Its fucking disgusting. And its a direct result of the legacy monetary system.
Not only does it enslave these poor nations with dirty loans from institutions like the IMF and World Bank, but smart, intelligent people who would otherwise go solve problems over there are instead incentivized to work on Wall Street or program for the morons at Facebook, or some other ridiculous Silicon Valley startup that got major funding because they knew a guy.
The fiat-toilet-paper price of bitcoin will go up, down and around in circles in the short term, and if you focus on that, youll lose your mind.
I want you to remember why youre really here.
You, as Bitcoiners, are here as the white blood cells of the network. You are the cyber hornets. Each and every one of us is here with a moral duty.
We are here to slay the frauds. The collectivists. The eco terrorists and fascists. Were here to slay the cry babies, the fiat slaves and think bois.
Source: The author
And as we grow this, our very existence will slay the evil cartoon villains who believe that they know how to run your life better than you do, and will stop at nothing to make you pay for their lavish lifestyle.
The shitcoiners and charlatans are irrelevant. Theyll continue to be pathetic, desperate slobs with dreams of being the next Epstein or Fragile Taleb.
Source: Twitter
You and I are here to be warriors. To fight. To build a free world. To help each individual become sovereign, starting first and foremost, with ourselves.
Read more here:
Posted in Jordan Peterson
Comments Off on Fix The Money, Fix The World – Bitcoin Magazine
NHL to Engrave Fan Tweets at Hockey Hall of Fame in Toronto – iPhone in Canada
Posted: at 10:44 pm
One of the time-honored traditions in sports is carving the names of members of Stanley Cup-winning teams onto the iconic trophy, and theNational Hockey Leagueteamed up with Twitter to enable some fans to have their shot at immortality, as well.
According to a new press release from the NHL, fans can tweet directly to the @StanleyCup account with the hashtag #StanleyTweets, and up to 52 of those tweets will be engraved into a first-of-its kind installation at the Hockey Hall of Fame in Toronto, featured alongside the Stanley Cup and other official NHL trophies.
The goal is to pick 52 tweets in multiple languages to correspond to the 52 names the winning team gets on the Cup each season. NHL social media director Sean Dennison said the hope is for tweets that evoke emotion and sentimentality with some humor mixed in.
We want this to be as symbolic of the Cup as possible and since 52 names get put on the Cup, lets recognize 52 fans, he said. The modern day fan experience really does take place on social media and especially on Twitter. It captures what people are saying, and I think thats an important part of the story for our sport and for a Stanley Cup win.
Tweets in Czech, English, Finnish, French, German, Russian, Slovak, Spanish and Swedish will be considered.
The thought was really finding a way to give fans recognition for their commitment the same way that we would with the players themselves, NHL executive vice president and chief marketing officer Heidi Browning said.
The social media endeavor launches on the day of Game 1 of the final between the Montreal Canadiens and Tampa Bay Lightning. While the Lightning are trying to win back to back, the Canadiens are looking for their first championship since 1993.
Excerpt from:
NHL to Engrave Fan Tweets at Hockey Hall of Fame in Toronto - iPhone in Canada
Posted in Immortality
Comments Off on NHL to Engrave Fan Tweets at Hockey Hall of Fame in Toronto – iPhone in Canada
Home Grown: Harvest automation is the newest farmer on the field – KYMA
Posted: at 10:43 pm
YUMA, Ariz. (KYMA, KECY) - In today's Home Grown, we look at a way that man and machine can co-exist side by side in the field.
There are millions of dollars invested in harvesting each year, but with a continuous labor shortage, it makes it difficult to get crops out of the dirt.
Thinning, weeding and spraying have already shifted to machine labor in our area.
Harvesting, on the other hand, is much more difficult because a robot would have to replicate a human being.
"You're looking at something. You're evaluating it. You're making a decision," said Dennis Donohue, executive director of the Western Growers Association. "You know, if you're looking at a strawberry, is it red, does it have white shoulder, is it no good."
Harvesting is a difficult process because a machine would have to have the same evaluation capabilities as a farmer.
Even though nothing can compare to the human eye, farmers feel switching to harvest automation is a necessary step in feeding America.
See the rest here:
Home Grown: Harvest automation is the newest farmer on the field - KYMA
Posted in Automation
Comments Off on Home Grown: Harvest automation is the newest farmer on the field – KYMA
Here are 5 shipping exceptions that ecommerce companies should automate – YourStory
Posted: at 10:43 pm
According to a Payoneer report, the Indian ecommerce sector is ranked 9th globally in cross-border growth, with the volume of online orders increasing by 36 percent in the last quarter of 2020.
None of that would have been possible without an efficient shipping system. While many small and medium ecommerce businesses take a simple approach of manually selecting delivery partners for each shipment, this isnt the only approach.
Most ecommerce companies are opting for shipping automation to streamline their supply chain to grow their business and keep customers happy.
This leads to greater productivity and enables an ecommerce company to process and ship more orders in less time.
From small to medium to large, all sizes of an ecommerce business can benefit from fully embracing automation.
To better understand the role of shipping automation, let's look at some common fulfilment challenges e-commerce businesses deal with daily and how automation can solve those.
Delays in shipment are inevitable, and the reason for these delays could be anything depending on the nature, size, or weight of the product.
However, for ecommerce firms, it means customer escalations and WISMO calls leading to more time spent and money lost.
These losses can be mitigated with an organised fulfilment process and ongoing customer communication. Technology can reduce the impact of delayed shipments on customer experience by 60 percent.
These are cases where the carrier is unable to deliver the order. Sometimes, the receiver is not available at the address to receive the parcel, or the delivery address was incorrect/incomplete or missing some details.
An unsuccessful delivery incurs extra costs on rescheduling, informing the receiver, and scheduling the future delivery. Automating the delivery operations by integrating with carriers helps identify such cases in real-time and taking customer inputs proactively. This increases the success rate of such delivery attempts.
Fake delivery attempts adversely impact customer experience. For an ecommerce company, it is important to empower customers to report such cases directly and solve the issues.
Also, NDR (non-delivery report) management in automated processes reduces the time spent processing the undelivered parcel. It also follows up with the customer to check their availability to receive the package and perform the re-attempts.
Stuck shipments are a complex situation for any ecommerce company. These shipments, which are 'stuck' in the supply chain, have a strong chance of getting delayed, causing severe disruption to the customers buying experience.
This can be damaging to your reputation, incurring extra costs and lost revenue. An automated system gets tracking updates from carriers, and when there is no update regarding the shipment for more than three days, it auto-flags the order and enables daily emails to carrier POCs asking them to address stuck shipments.
Often, a package gets misplaced or damaged during shipments. Such incidents directly affect customer satisfaction but are out of the sellers control.
An automated system always keeps an eye on the status of the products through carrier updates over APIs.
The system then triggers an update in the sellers' order management system to resend the product.
Exceptions are common in ecommerce supply chains, but automation is a great way to mitigate the risks associated with such exceptions.
Automation saves time, reduces costs, improves efficiency, productivity and accuracy, and results in better customer experiences. It benefits both the ecommerce company and the customers and ensures business growth.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)
More:
Here are 5 shipping exceptions that ecommerce companies should automate - YourStory
Posted in Automation
Comments Off on Here are 5 shipping exceptions that ecommerce companies should automate – YourStory
Outperform the competition through machine learning-powered automation – Intelligent Insurer
Posted: at 10:43 pm
Agility and responsiveness are key demands from the digital consumer. Whether in the consumer or commercial sector, a customer experience that is fast, efficient and effective is always the goal. Increasingly, digital-first insurtechs are able to deliver this experience leaving legacy carriers wondering how they can overcome years of systems and process toquite literallybring themselves up to speed.
Charlie Newark-French, chief operating officer at Hyperscience, will be partnering with Sam Love, chief product officer of wefox, at this years Underwriting Innovation Europe virtual event, brought to you by Intelligent Insurer. During their presentation on June 29, they will be revealing through the wefox case study how legacy carriers can replicate the success of their digital transformation by intelligently automating manual processes such as data extraction and verification. Here, Newark-French explains what viewers can expect.
Put the customer at the heart of your plans when building your business process. Charlie Newark-French, Hyperscience
Why is this case study such an important example of the power of automation? Wefox is trying to do something unique in Europe: to be the first Europe-wide, fully digital insurance company while still embracing the incumbent broker network. It is looking for substantially better outcomes for customers. This means improving processes and underwriting policies significantly more quicklyand doing so at a lower cost.
Its unique in that, in the face of digital, many carriers might try to circumvent the broker network, but wefox feels that this service has many advantages. It gives instant scale to startups or new market entrants where otherwise you might need a large marketing budget and extensive time investment to build a similar base.
Distribution makes a big difference. The broker gets close to the customer, understands their needs and can help with more than one product. Intelligent automation enables brokers to underwrite policies for their customers much faster, and this seamless experience for the broker filters down to the end customer.
By improving its business process, wefox has enabled its brokers to provide a much better customer experience, and that helps them expand the broker network.
What lessons can be learned from this case study?Speed and cost savings directly impact not only your customers, but also your brokers. Its a miserable process: taking out an insurance policy, submitting information and then waiting for days and more to get an answer. We know theres a better way.
What contribution is automation making to end customer experience?Powered by machine learning and artificial intelligence, the Hyperscience Platform automatically classifies and extracts accurate, actionable data from the diverse document types required throughout the underwriting process.
This throughput increase not only enables cost savings, it translates downstream to the customers, improving their overall interaction with wefox as their time spent waiting for answers is reduced. In utilising intelligent automation through its insurance processes, wefox is able to compete with other providers by issuing policy decisions faster, allowing the brokers to provide a seamless customer experience.
On top of that, further down the chain, intelligent automation is freeing wefox employees from the time-consuming, manual task of comparing documents against the information entered by brokers, and enabling them to use that reclaimed time better by providing customers with better services. Its a win-win for all involved thanks to the power and flexibility of intelligent automation.
What best practices will attendees be able to take away from the session?First of all, its thinking about where we are and where were trying to get to, plus value to stakeholders and value to the customer. Wefox has looked at the world of today, designed the world where it wants to exist, and then charted a path between the two.
The company has been thoughtful of its employees needslooking for ways to free them to work on more impactful work, rather than keying someones name into a system four times over.
It has considered the mundane tasks that a machine can accomplish, while leaving the more meaningful work to employeesenabling a collaboration between machines and humans that future-proofs the organisation in its efficiency and configurability.
With customers at the centre of the digital transformation, wefox has improved the experience of its employees, brokers and customers.
What else should attendees take away from this session? Put the customer at the heart of your plans when building your business process. Think about ways to upgrade using technology that augments what your employees are able to accomplish, enabling the whole organisation to embrace change.
What I found fascinating is that pre-COVID-19, organisations were reluctant to implement change management. Yet at the start of the pandemic, change happened on a massive scale in a matter of weeks. When it comes to future-proofing your organisation for the benefit of your customers, sometimes its best just to tear off the Band-Aid and make the change.
Charlie Newark-French, chief operating officer at Hyperscience, and Sam Love, chief product officer of wefox, will be speaking on Tuesday June 29 at Intelligent Insurers Underwriting Innovation Europe Virtual Event (June 2830, 2021). The event is free to attend for insurers and brokers/agents, but you must register in advance. Sign up to access the content live and on demand here.
wefox, Hyperscience, Underwriting Innovation Europe, Virtual event, Insurance, Reinsurance, Charlie Newark-French, Sam Love, Europe
Read the rest here:
Outperform the competition through machine learning-powered automation - Intelligent Insurer
Posted in Automation
Comments Off on Outperform the competition through machine learning-powered automation – Intelligent Insurer
They Voted for Brexit, but Not the Giant Truck Park That Came With It – The New York Times
Posted: at 10:42 pm
MERSHAM, England Since work began on a post-Brexit border checkpoint, villagers nearby have complained of construction noise, a cloud of dust, damage to their homes, unsavory refuse and giant trucks blasting their horns at night and getting stranded on tiny rural roads.
But the real problem starts like clockwork each evening when hundreds of floodlights from the giant vehicle park illuminate the skyline so much that, on one recent night, a dramatic bolt of summer lightning looked like a faint flicker.
Five years after Britons voted to leave the European Union, the aftershocks are still being registered. But few parts of the country have felt its impact more than this corner of England close to its Channel ports and the white cliffs of Dover, where a majority voted for Brexit.
When Britain was inside the E.U., the trucks that flowed ceaselessly to and from France did so with few checks. But Brexit has brought a blizzard of red tape, requiring the government to build the checkpoint nicknamed the Farage garage, a reference to the pro-Brexit campaigner Nigel Farage.
For people living nearby its an absolute catastrophe with the night sky completely lit up. Honestly, its like Heathrow Airport, said Geoffrey Fletcher, chairman of the parish council at Mersham (pronounced Merzam).
Consultation on the 24-hour truck park had been minimal and suggestions on how to limit problems ignored, he said. Yet, so polarized is the debate over an issue that divided the country, that Mr. Fletcher thinks few minds have changed on Brexit.
I have not met anybody who has said they would vote differently, said Mr. Fletcher, a Brexit voter, over coffee in the garden of his former farmhouse, part of which dates from the 15th century.
At present the Sevington Inland Border Facility is mainly used for Covid-19 testing of truck drivers headed to France, according to Paul Bartlett, a Conservative Party representative on the Kent County Council. That should change in the fall, however, when Britain is scheduled to start introducing checks on incoming goods including food and animal products.
Currently, the site, which covers around 66-acres, is around half as busy as expected, but already there are problems.
Of about 1,000 lorries a day coming into the Inland Border Facility there are two or three lorries a week trying to access it through an unauthorized route: every time that happens it causes angst and aggravation, said Mr. Bartlett, who added that some truck drivers who had relieved themselves inside their cabs had discarded bottles filled with urine.
It happens, I dont understand it, he said, why chuck it out of the window when you know you can walk it to a bin?
If Britain were experiencing any wide-scale Bregret regret about supporting Brexit this should be the place to find it given the litany of complaints.
Yet opposition to the border checkpoint has been muted because the land had been earmarked for development, and a warehouse and distribution center was one possibility.
John Lang is one of the most directly affected, and while his physical view has changed dramatically, his political ones have not. Where once Mr. Lang enjoyed overlooking a barley field, he now faces the site in two directions: the main area to the front and an overflow area to the rear.
The main construction phase was like a war zone, he said, not just because of the noise but because the process of leveling the ground generated a huge cloud of dust. It was like the Sahara, he said.
While that has mercifully ended, Mr. Lang said he was still being bothered by trucks sounding their horns late at night or getting lost and ending up outside his home. On one occasion Mr. Lang said he had an altercation with an irate Italian truck driver. I threw a sandbag at him, he said.
But those annoyances pale beside the enduring problem of the 40-foot-tall floodlights that throw a blaze of light over the area. I reckon you could see it from the space station, said Mr. Lang, who cannot use one of his bedrooms because, even in the pitch of night, its daylight.
While Mr. Lang, the managing director of a building company, feels poorly treated by government officials they couldnt lie straight in bed, he said he has not wavered in his support for Brexit. He is happy with the governments new draft trade agreement with Australia and thinks that further benefits will be seen a decade hence.
Down the road, Nick Hughes said heavy construction vehicles had caused structural cracks in his ceiling and a burst water main outside. The dust, he said, was unbelievable, and an acoustic wall designed to muffle sound from the truck park has caused problems because the roar from a nearby high-speed train line tends to bounce off it, amplifying the sound.
And of course, there are the floodlights. We could walk around our house at night with no lights on, said Mr. Hughes, a civil servant, who fears that the development has reduced the value of his property.
When you talk to somebody and you say where you live, they used to say, Oh by the quaint church. Now they say, By the lorry park, he added.
Yet Mr. Hughes, while circumspect on how he voted on Brexit, said his views had not changed. I have friends who voted both ways and we just dont talk about it, he added. Its probably the most divisive thing I have ever known among groups of friends.
The Department for Transport said it had commissioned a survey over the lighting and would work to resolve complaints.
We are aware of residents concerns and have acted to minimize disturbance by turning off the lights in one of the most public sections of the site as well as commissioning a detailed lighting survey to better understand the issue and develop a plan to address it, it said in a statement.
Supporters of the project point to its economic impact and, so far, it has generated 130 jobs, according to an official announcement.
But by Sevingtons church, which dates from the 13th century and is now an island of rural calm next to a sea of concrete, Liz Wright, a local Green Party councilor, decried the pollution connected to the site. It is very sad when you think there were hedges, wildflowers, wildlife and trees, and now you just see this barren expanse of lorries and buildings, she said.
However, Ms. Wright voted for Brexit because she opposes the European Unions farm policy and thought migration from the bloc was forcing down wages, and she hasnt changed her mind either.
Those who wanted to remain in the European Union, like Linda Arthur, a leader in the Village Alliance, a local group campaigning to persuade the government to devote some of the unused land to a wildlife site, can only shake their heads.
It was a beautiful country village peaceful and quiet until now, she said, adding that some villagers are getting a little tired of guiding lost foreign truck drivers out of tiny streets.
But she accepts that the region can expect little sympathy in light of its vote to leave the E.U. and acknowledges that, despite the transformation of this idyllic corner of the countryside into something of an eyesore, sentiment about Brexit has barely moved a notch.
It hasnt, I suppose its very interesting isnt it? she said, adding with a wry smile: Thats all I can say as a non-Brexiteer.
Read more:
They Voted for Brexit, but Not the Giant Truck Park That Came With It - The New York Times
Posted in Brexit
Comments Off on They Voted for Brexit, but Not the Giant Truck Park That Came With It – The New York Times
Hundreds of thousands of EU citizens scrabbling to attain post-Brexit status before deadline – The Guardian
Posted: at 10:42 pm
EU citizens are struggling to apply for post-Brexit settled status as the Home Office reaches breaking point coping with a last-minute surge in applications.
With three days before the deadline of the EU settlement scheme this Wednesday, campaigners say late applicants are being stuck in online queues as others find it impossible to access advice on the government helpline.
Latest government statistics show a lengthening backlog of applications. Out of 5,605,800 applications only 5,271,300 have so far been processed. Further estimates suggest tens of thousands possibly up to 150,000 of others have yet to even apply.
The figures have intensified calls for the UK to follow Frances leadand announce a deadline extension, a move that has ensured British nationals in the country do not risk losing their rights.
On Thursday France added another three months to its 30 June deadline for new post-Brexit residency permits, allowing Britons more time to secure local healthcare, employment and other rights.
However, the UKs immigration minister, Kevin Foster, has ruled out extending the deadline despite a late surge in applications, thought to be higher than 10,000 a day.
Campaign group the3million, whose name underlines the vast underestimation in the number of EU citizens previously believed to be living in the UK, said they had received numerous reports of people struggling to receive a certificate of application, the paperwork that guarantees their rights are protected while their application is pending.
Monique Hawkins of the3million said an indication of how many EU citizens were scrabbling to obtain a certificate of application was evidenced by the number of people reporting being stuck in a queue after accessing the governments settled status website.
Hawkins also said there were grave concerns over the helplines ability to cope. To date, the helpline has received 1.5 million calls in addition to more than 500,000 requests for help through an online contact form.
If people have any kind of problem or question, they cant get through. Instead, they get a message saying, Sorry, the helpline is full, try again later.
There are a lot of complex applications trying to get through which are being stymied by people not being able to get help. The organisations set up to help people are also overrun, the system is at breaking point, said Hawkins.
Last week the Home Office warned EU citizens living in the UK that they will be issued with a formal 28-day notice if they fail to apply for post-Brexit settled status by the deadline.
The notices will warn them to enter an application or risk losing their rights to healthcare and employment.
Campaigners fear that many EU citizens still remain unaware of the deadline and the threat to their rights.
There will be a lot of complex and vulnerable people who will also not have been reached because they will not be seeing the last-minute social media material, said Hawkins.
The Home Office said last week it was redoubling attempts to reach those unaware of the impending rule change, including vulnerable groups such as elderly people and children in care.
Another area of concern is potential delays to the issuing of certificates of application. Despite writing to the Home Office in April, the3million say they still do not know of the legal position if a person has submitted an application but has not received a certificate.
Meanwhile, the backlog of applications has grown to more than 330,000. Although the Home Office says the process usually takes five days, new data reveals that more than two-thirds of EU settlement applicants have been waiting more than a month for a decision, with thousands waiting for over a year.
A Home Office spokesperson said: As we near the 30 June deadline for the EU Settlement Scheme, our Settlement Resolution Centre is seeing a surge in calls but continues to help thousands of customers every day.
Anyone who has already submitted an application has their rights protected, even if the application is not concluded before the deadline. We want to prioritise those who havent yet submitted an application and who need additional support to do so. If you have already made an application, please do not call the Settlement Resolution Centre to check.
Read the original here:
Posted in Brexit
Comments Off on Hundreds of thousands of EU citizens scrabbling to attain post-Brexit status before deadline – The Guardian
Post-Brexit checks rejecting less than 1% of British imports – The Irish Times
Posted: at 10:42 pm
Less than 1 per cent of animal food products, plants and live animals imported from Britain have been rejected by State inspectors in post-Brexit checks since January 1st, new figures show.
The Department of Agriculture said it had processed 24,481 consignments, mostly at Dublin Port, since the beginning of the year under the new border controls on imports from Britain.
Inspectors carried out 27,918 checks on those consignments in that 24-week period to June 20th. Just 175 consignments, or 0.7 per cent of those processed, were rejected, mostly because the imports were not accompanied by the required health certificate.
Products of food and plant origin along with live animals arriving into the State from Britain have been subject to sanitary and phytosanitary checks applying to non-EU goods. The checks have been carried out the EU-designated border control posts (BCPs) at Dublin Port, Dublin Airport, Rosslare Europort and Shannon Airport.
Some 97 per cent of the consignments were processed by inspectors at Dublin Port, the States largest port.
In most cases where consignments were rejected, the product was destroyed as it was usually just part of a load being carried by a heavy goods vehicle, the department said.
Of the rejected consignments, 90 were products of plant origin, 63 were products of animal origin and 16 were rejected on the basis that they did not comply with EU rules on pesticides. No consignments of live animal imports were rejected.
Hazel Sheridan, head of the departments import control division, said the main focus of the work by inspectors was on documentary checks to ensure that importers had correct certificates.
Inspectors carry out documentary checks on all food and other products of animal and plant origin, while all live animal imports and between 60 and 70 per cent of plant products are subject to identity checks by inspectors.
The physical check rates vary and that has not been so much of our focus in the early part of the year but it will be in the latter part of the year, she said.
Ms Sheridan said the very low number of rejected consignments was a testament to how well businesses have adapted to the situation.
It was pretty bumpy in the early days, but we are definitely on a much smoother road now. We have been impressed by how quickly businesses have adapted, she said.
The change to border controls on inbound products from Britain was the most significant change since the EU single market was created more than a quarter of a century ago, she said.
It was always going to be a very big shock to the trading system. It has been a real testament to everybody how quickly businesses have adapted and just how agile and adaptive businesses, hauliers and operators in the supply chain are in Ireland and the UK, she said.
Ms Sheridan warned traders to be ready for the next shock from October 1st when Britain would start applying border controls to exports from Ireland and the rest of the EU.
She expected businesses would stockpile and front-load products ahead of the October deadline to allow them to adjust, but urged traders to have the required paperwork ready to avoid delays.
If you are exporting products to the UK, you really need to be very clear what the GB import requirements are and then making sure that youre able to comply with them, she said. One of the key messages for businesses is to do things as early as you possibly can.
Read more from the original source:
Post-Brexit checks rejecting less than 1% of British imports - The Irish Times
Posted in Brexit
Comments Off on Post-Brexit checks rejecting less than 1% of British imports – The Irish Times
EU rules UK data protection is adequate in boost for business – The Guardian
Posted: at 10:42 pm
British data protection standards are adequate, the EU has ruled in a long-awaited decision that lets digital information continue to flow between the UK and the bloc. But Brussels warned Boris Johnsons government the decision could be revoked immediately if it sees weakening UK standards.
Failure to get a positive decision would have risked plunging British businesses into disarray, leaving industries from banking to logistics scrambling to set up more costly, bureaucratic alternatives to share data.
The UK will retain adequate status for four years, but the commission warned that could be withdrawn at any time if UK law was no longer deemed to offer EU citizens protection over how their data was used.
The European Commission vice-president Vra Jourov said: The UK has left the EU but today its legal regime of protecting personal data is as it was. Because of this, we are adopting these adequacy decisions today.
She added that the commission had listened very carefully to concerns expressed by the European parliament, EU members and the European Data Protection Board, in particular on the possibility of future divergence from our standards in the UKs privacy framework.
Under pressure from the European parliament, the commission put a four-year sunset clause on the adequacy decision, a safeguard applied to no other country, which reflects mistrust of the British governments ability to protect EU citizens data.
Didier Reynders, the European commissioner in charge of data protection, said the adequacy decision could be withdrawn immediately if the commission had serious concerns.
Of course we have a procedure and we will give the opportunity to the UK to react and to explain what are the possible solutions, if we have a problem, he said. But if there is a real urgency this can be done immediately. So its possible to stop the process or to suspend or amend if we have real concerns. Its a unilateral decision of the commission to do that.
John Foster, the director of policy at the Confederation of British Industry, said the breakthrough in the EU-UK adequacy decision would be welcomed by businesses across the country. The free flow of data is the bedrock of modern economy and essential for firms across all sectors from automotive to logistics playing an important role in everyday trade of goods and services.
The digital secretary of state, Oliver Dowden, said: After more than a year of constructive talks, it is right the European Union has formally recognised the UKs high data protection standards.
During the Brexit transition period, the government largely copied key EU legislation into the UK statute book, notably the landmark General Data Protection Regulation (GDPR) and the Law Enforcement Directive, which governs data sharing in police and law enforcement.
Brexiters on the Tory backbenches are pressing Boris Johnson to ditch the prescriptive and inflexible GDPR. A taskforce set up by Downing Street to seize new opportunities from Brexit said GDPR should be replaced with UK laws on data protection. The EUs GDPR overwhelms people with consent requests and complexity they cannot understand while unnecessarily restricting the use of data for worthwhile purposes, states the taskforce report drawn up by Iain Duncan Smith, Theresa Villiers and George Freeman.
The group said consumers needed stronger rights, while data should be free[d] up to allow the UK to capitalise on artificial intelligence and data-driven healthcare. The prime minister promised to give their report the detailed consideration it deserves.
During the Brexit negotiations, analysts at the New Economics Foundation warned that the absence of a deal on data could cost UK firms up to 1.6bn, either in compliance costs or higher prices for goods and services. Any company that shares data between the UK and EU via payroll or health records could be affected if Brussels decides to withdraw adequacy.
Only 12 countries, including Canada, Switzerland and New Zealand, have positive adequacy decisions from the EU. The US was deemed partially adequate, but these decisions have been thrown out twice by the European court of justice. The two legal victories for the privacy campaigner Max Schrems concluded the EU-US agreements on data-sharing failed to protect EU citizens from snooping by US intelligence agencies.
More here:
EU rules UK data protection is adequate in boost for business - The Guardian
Posted in Brexit
Comments Off on EU rules UK data protection is adequate in boost for business – The Guardian
Effects of Brexit difficult to quantify as COVID-19 muddying the waters – Pensions & Investments
Posted: at 10:42 pm
The reality is that markets have "kind of dismissed it," said Andrew Jackson, head of fixed income at the international business of Federated Hermes Inc. in London, speaking on a virtual panel event on June 17. While Brexit is relevant, it may be "bad, may be good, but only marginally bad or good," he said. Corporations got ahead of the official exit, managed risks and communicated them well, Mr. Jackson added. Federated Hermes has $625 billion in assets under management.
But concerns do remain, including the impact of "rules of origin" the need to demonstrate that goods originated in the U.K. or EU before they can be distributed on supply chains and "the uncertainty over the treatment of parts of financial services. The risk is that a combination of the rules, frictions and ongoing uncertainty undermine business investment," Mr. Roe said.
Insight's Ms. LaRusse said there is some evidence of delays in terms of bringing goods into the U.K., which is affecting costs. She also cited the rules of origin protocol as a risk. "There is some evidence to suggest there are frictions in the system, which are leading to less trade, and potentially that hurts the U.K. economy," she said.
And Hermes' Mr. Jackson added that supply chains will continue to be disrupted. "But I think in some ways, the last year has been a good time to have Brexit occur there's been a global pandemic and some of those supply-chain effects have not been noticed," and markets have gathered "all the bad news together in one big chunk," he added.
And any further bad news that causes another drop in sterling would actually boost domestic stock prices because about 70% of FTSE 100-listed company revenues are earned overseas, RLAM's Mr. Greetham said.
Christian Kopf, Frankfurt-based head of fixed income and FX at Union Investment Institutional GmbH, thinks Brexit "is largely priced into financial markets by now. In fact, we believe that after lagging global equities for many years, U.K. equities now offer good potential, as valuations look attractive."
That is especially true for midcap stocks those listed on the FTSE 250 index "which tend to perform well in economic recoveries. But even large caps now look cheap by historical standards," he said in an email. Union has 386 billion ($467.4 billion) in assets under management.
See original here:
Effects of Brexit difficult to quantify as COVID-19 muddying the waters - Pensions & Investments
Posted in Brexit
Comments Off on Effects of Brexit difficult to quantify as COVID-19 muddying the waters – Pensions & Investments