Daily Archives: April 6, 2022

Delivering the Benefits of Future Studies at Prince Mohammad Bin Fahd University (PMU) – PR Newswire

Posted: April 6, 2022 at 9:43 pm

Just before the pandemic struck, Prince Mohammad Bin Fahd University (PMU) founded the Prince Mohammad Bin Fahd Center for Futuristic Studies (PMFCFS) in 2019 at the university's Al-Khobar campus. With this center, PMU aims to be a pioneer in futures studies not only in its home nation of Saudi Arabia, but also in the broader Middle East and North Africa (MENA) region and worldwide. As the world adapts to the swift change ushered in by the pandemic, PMFCFS is helping shape the education of the next generation of leaders, enhancing the understanding of futures studies, and ultimately delivering the field's benefits to humankind.

"The Prince Mohammad Bin Fahd Center for Futuristic Studies is a world-class institute with a mission to research, identify, and spread the best and most sustainable policy solutions worldwide through futures studies," said Dr. Issa Al Ansari, President of PMU. "We firmly believe peaceful prosperity can be equitably achieved for all people in all places on our shared planet. The coordinated global response to the COVID-19 pandemic has reinforced this view."

In alignment with PMU's mission and vision, PMFCFS aims to position itself among the leading academic institutions in the Middle East as a research-led center. Examples of PMU's global collaboration include the establishment of the first United Nations Educational, Scientific and Cultural Organization (UNESCO) Chair in the Gulf Region at PMU in December 2021. In October 2021, PMU partnered with World Futures Studies Federation (WFSF) in convening the WFSF 24th World Conference, an international event held in Berlin, Germany.

Many other agreements are in place, including a memorandum of understanding (MOU) with Teach the Future, a non-profit futures literacy organization based in Sacramento, California, United States; an MOU with the Association of Professional Futurists (APF) located in Seattle, Washington, United States; and an MOU with the Future Foresight Foundation (FFF) in Abu Dhabi, United Arab Emirates.

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SOURCE Prince Mohammad Bin Fahd University

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Head of Russian Space Program Claims That the US Doesn’t Have Any Spacecraft – Futurism

Posted: at 9:43 pm

Russian space chief Dmitry Rogozin is at it again.

This time, hes conveniently bending reality to impress Chinese officials and convince them to help Russia with its space program, which has been largely cut off from international support following Russias invasion of Ukraine.

In an interview with Chinese state media network CGTN, Rogozin argued that Russias role in the International Space Station is vital. Only Russias Soyuz spacecraft can transport American, European, Canadian, Japanese astronauts and their guests.

Soyuz is irreplaceable, because America doesnt have any spacecraft, he added.

Its yet another bizarre comment from the outspoken space chief, who is obviously aware that the claim is demonstrably false. In fact, in October, Rogozin himself suggested Russian cosmonauts could soon be launching on SpaceX Crew Dragon spacecraft to the ISS.

In our view, SpaceX has already acquired enough experience for us to be able to put our cosmonauts on Crew Dragon, Rogozin said through a translator at the time.

Rogozins latest outburst raised eyebrows in the space community.

He knows better, Space Policy Online editor Marcia Smith tweeted in response to Rogozins recent statement. Is he hoping the Chinese audience doesnt?

Its especially ironic given the fact that astronauts from Europe, the US and Japan have all already launched on board a Crew Dragon to the ISS, with Canada being the only exception on Rogozins list.

Sure, Crew Dragon may nothave been developed in-house by NASA, but SpaceX is an American company that built the spacecraft with considerable NASA funding as part of its Commercial Crew Program.

In other words, Crew Dragon is the culmination of years of tightknit collaboration between the two.

Rogozin also claimed that the ISS was doomed without Russia after being asked about threatening the US with a rapidly de-orbiting ISS in February.

Russia helps the international space station avoid space rubbish and maintain orbital correction, he told CGTN. The ISS is in a low earth orbit. It helps deliver fuels to the station. These are the main contributions from Russia and Roscomos in particular.

So working without Russia is impossible, just like working without America, he said.

In the interview, Rogozin also said that Russia would be interested in working with China on launching a Mars rover, after the European Space Agency announced it is no longer planning on launching its ExoMars rover this year, since it was planning to do so using a Russian-made Proton rocket.

Predictably, Rogozin condemned the international community for implementing illegal sanctions against its space program, once again painting Russia as the victim.

In fact, the space chief went so far as to throw the ESA completely under the bus.

In the construction of ExoMars, the main element is the landing module, he said in the interview. The Mars research rover is not the essential element. I think we can make this mission happen with another partner like China or someone else.

Its not a stretch to conclude that Rogozin is acting in bad faith. One can only hope his comments are not reflective of Roscosmos outlook as a whole after all, years of hard work by Russian scientists and engineers are at stake.

The ball is now in Chinas court. The two countries have shown willingness to work together before, and are already collaborating on a planned lunar base.

But given the current geopolitical crisis and the subsequent fallout in international relations, China may be thinking twice about taking Rogozin up on his offer.

More on Rogozin: Space Station Tourists Will Only Enter Russian Segment If Invited, CEO Says

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Raised by Wolves depicts religion in a futuristic society – Northern Star Online

Posted: at 9:43 pm

Coco Van Oppens | HBO Max

The first episode of science-fiction show Raised by Wolves was released September 2020. (from left to right) Aasiya Shah, Winta McGrath, Felix Jamieson (Coco Van Oppens | HBO Max)

Raised by Wolves is a science fiction series on HBO Max that questions the role of religion in a future of advanced science. According to NPR, the series is executively produced by Ridley Scott, who directed the first two episodes. It premiered in 2020 and currently has two seasons, which have both received much praise, according to IMDB.

The series takes place in the future after a destructive, religious war between the Mithraic and atheist groups has destroyed the Earth. The series centers on a pair of androids, played by Amanda Collin and Abubakar Salim, tasked with raising human children on an alien planet. The colony the androids are trying to build threatens to be torn apart by the same religious differences that destroyed the Earth.

The series deals heavily with philosophical and religious themes, blended perfectly into the dialogue to bring a unique take on science fiction. The series asks a lot of questions of its viewership on the topic of religion in society and how often it can be used to control, while acknowledging the hope and benefits of religious beliefs.

Viewers will question every detail. We see how terrible, controlling and destructive humanity can be towards each other in the destruction of the planet. The story has many mysteries and twists pertaining to the characters and the setting, an alien planet called Kepler-22b, which is a real, potentially habitable planet outside of our solar system. The humans and androids soon discover that Kepler-22b and the conflict that destroyed the Earth are not as they seem and there is an ominous force on the planet that threatens their existence and beliefs.

The cinematography and special effects in the series are astounding. The creatures and sets are realistic and become even more epic with the presence of a giant being that appears in the show. The planet has dangers that threaten the existence of humans. The stakes are higher and deaths hold weight because this is the last remaining colony and humans have become an endangered species.

The series has been nominated for awards such as a Primetime Emmy, Critics Choice Super Awards and Writers Guild of America, according to IMDB.

The writing keeps the audience engaged and constantly guessing, but admittedly can be confusing at times. Storylines and plot details take time before they are expanded upon further. This includes having things revealed in certain episodes but not coming into fruition until possibly the next season.

It is unknown if there will be a season three as nothing has been announced yet. However, the second season has received much praise by the fanbase and this series is perfect for hardcore science-fiction fans.

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NASA Astronaut Says He Candidly Discussed Ukraine Invasion With Cosmonauts – Futurism

Posted: at 9:43 pm

Its been a little awkward on the International Space Station as of late, considering the geopolitical crisis unfolding back on the ground and the fact that several Russian cosmonauts are constantly mingling with NASA astronauts inside some pretty cramped quarters.

Russian space chief Dmitry Rogozin didnt help the situation, making several vague and sometimes direct threats on Twitter, suggesting that Russia could suddenly pull out of the ISS program.

But according to NASA astronaut Mark Vande Hei, who returned inside a Russian Soyuz spacecraft alongside two other cosmonauts last week, everybody simply got on with their jobs while, he said, sometimes discussing the unrest.

About my relationship with my Russian crewmates, they were, are and will continue to be very dear friends of mine, he said during a Tuesday press conference, as quoted by Agence France Presse.

We supported each other throughout everything, he added. And I never had any concerns about my ability to continue working with them.

But, of course, Ukraine did come up at several points.

Theres varying levels of discomfort for them as well about the situation, Vande Hei told NBC News, but we had a job to do.

As far as the cosmonauts opinion on the matter, the NASA astronaut remained intentionally vague.

I did bring [the Ukraine situation] up with both my crewmates that I landed with and all I really feel comfortable saying is there was a variety of responses, he told NBC.

The situation took yet another unexpected turn when three new Russian crew members, who boarded the ISS last month wearing yellow and blue space suits the colors of the Ukrainian flag.

But according to Vande Hei, that wasnt the intention at all.Instead, he said, they were attempting to recognize the colors of their alma mater, Moscow State Technical University.

All three of them happened to be associated with the same university, and I think they were kind of blindsided by it, he said at yesterdays press conference.

As for Rogozins inflammatory tweets, Vande Hei speculated that he never perceived those tweets as anything to take seriously.

I just didnt spend a lot of emotional energy paying attention to it, he told reporters. I heard about it. I kind of laughed it off and moved on.

In short, life goes on aboard the aging orbital outpost, despite the geopolitical mess unfolding hundreds of miles below.

But, if Rogozins latest barrage of tweets over the weekend are anything to go by, over two decades of peaceful cooperation between Russia and its international partners on board the station are still very much on the line.

In one tweet, the space chief claimed Russia was preparing concrete proposals to our countrys leadership on the possibility of cutting cooperation short, as translated by CNN.

He had formally requested for NASA, the European Space Agency, and the Canadian Space Agency to lift sanctions being aimed at Roscosmos and its partners over the invasion of Ukraine.

But as evidenced by the letters his space agency received, the three agencies have no plans to lift any such sanctions, something Rogozin deemed as unacceptable.

I believe that the restoration of normal relations between partners in the International Space Station and other joint projects is possible only with the complete and unconditional lifting of illegal sanctions, he wrote, as translated by Google.

Meanwhile, as Vande Hei readjusts to the gravitational pull of our planets surface and enjoying some guacamole for the first time in a long time the political stalemate continues.

What that means for the future of the space station is anything but certain, but its demise is unlikely to be caused by any disagreements among crew members.

READ MORE: Russian cosmonauts blindsided by controversy over arriving at ISS in yellow spacesuits, NASA astronaut says [CNN]

More on the ISS: Guy Snaps Photo of Space Station So Detailed You Can See Spacewalking Astronauts

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Futuristic Designs Added to Ground Outside Guardians of the Galaxy: Cosmic Rewind at EPCOT – WDW News Today

Posted: at 9:42 pm

We are about one month away from media previews of Guardians of the Galaxy: Cosmic Rewind, which means construction is wrapping up on the attractions exterior.

We took a look at the Wonders of Xandar Pavilion from the Monorail on a cloudy morning.

Many construction materials and vehicles have moved out of the area.

One lift remains and a crew member was in it when we passed by. Other crew members were talking in the distance.

Temporary orange fencing no longer blocks the greeter structure at the main entrance.

The signs for height requirement and warnings on either side of the structure remain blank.

Plants have been fully planted around the courtyard.

The ground of the courtyard also has a new design on it, next to the Nova Corps ship.

The futuristic white designs match those on the building and ship. We may see more of these designs surround the ship in the coming weeks.

We saw a crew member working on the awning above the Treasures of Xandar entrance.

Several rolling planters are staged inside and outside of the construction walls, suggesting they will come down soon and be replaced with the planters.

Guardians of the Galaxy: Cosmic Rewind will likely open on Memorial Day weekend.

For the latest Disney Parks news and info, follow WDW News Today onTwitter,Facebook, andInstagram.

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Expo 2020 site will transform into a futuristic city within months – The National

Posted: at 9:42 pm

An Expo 2020 Dubai chief is already gearing up to welcome the public back to the world's fair site - after a spectacular closing ceremony capped off an unforgettable six months

Ahmed Al Khatib, chief development and delivery officer for Expo 2020 Dubai, tells The National how the sprawling area will be transformed into a futuristic city where people can live, work and play.

What was Expo will soon welcome crowds again as District 2020 providing a fitting legacy to the success of the global spectacle.

The most striking structures will remain in the Dubai South neighbourhood as will the two large parks, walking, cycle paths and restaurants in the citys newest residential and business district.

District 2020, the future of Expo 2020 Dubai, has announced the evaluation and shortlist of more than 600 applications from global start-ups and small businesses through its dedicated entrepreneurship programme. This marks the first major milestone for its dedicated Scale2Dubai programme which began accepting applications back in September 2021. The final announcement of successful applicants is expected to be revealed by March and will eventually see over 80 selected start-ups and small businesses joining District 2020s community from October 2022.

Mr Al Khatib, Expo 2020 Dubais chief delivery officer, said the plan was to open up gradually.

It will be in different phases, between now and October it should all open, he told The National.

Yes, the public can come in, so they can still can enjoy Terra, Mobility and other spaces.

Our reopening will be done in phases because we want to open gradually.

We need time to do the necessary transitioning to ensure the place is ready to integrate with the bigger city.

Country pavilions will be dismantled and returned home as part of sustainability regulations that govern all world fairs.

The physical site and of course the infrastructure will remain, Mr Al Khatib said.

The sustainability, mobility and opportunity pavilions are staying. Definitely the UAE pavilion, Al Wasl, the landscaping, the two parks, the exhibition centre, the water feature, the garden in the sky [observation tower] all those were built to stay, since Day 1.

Ahmed Al Khatib, chief development and delivery officer for Expo 2020 Dubai. Antonie Robertson / The National.

These were references to the main pavilions that anchored the Expo Terra, the disc-shaped sustainability pavilion; Alif, the mobility pavilion shaped like a fidget spinner; and the opportunity pavilion.

Other structures that will stay are Vision, the womens pavilion, the UAE pavilion and a few other country pavilions.

Expo has previously said Terra would evolve into a children's and science centre that will be an educational attraction focused on green goals.

What will be removed is just the security gates, signage, country pavilions, Mr Al Khatib said.

But the physical site, a lot, everything almost, will remain of what was built for Expo.

Like Expo, District 2020 will be a bicycle-friendly zone. Pawan Singh / The National

The new neighbourhood will be the regions first 15-minute city, with amenities in close proximity.

So there is no reason for you to leave this city because you will have all your needs within 15 minutes from where you are, Mr Al Khatib said.

In terms of distance of your residence, work, park, gym, shopping, groceries, you are always within 15 minutes also for your entertainment.

Its human-centric, the main factor was always the human experience for walkability, resting, shaded areas and the landscaping.

The new district was planned from the outset to cater for residents.

This intention to build lasting structures was part of the bid document submitted in 2013 with the metro linked with a dedicated station.

Expo organisers studied earlier world fairs and visited the cities that hosted the events.

We did look at the legacies of Shanghai, Milan and previous ones," Mr Al Khatib said.

However, when it comes to Expo 2020 Dubai the approach is totally different.

When we built Expo, the whole investment and vision was to build a future city and a legacy. That future city happened to host Expo.

Hamra Abbas's marble re-creation of a garden used five tonnes of lapis lazuli. Photo: Roman Mensing

Art will hold a special space in the community with 11 art installations commissioned for the Expo that will stay.

These are placed carefully in specific locations across the site so, during legacy, it will become not only a real estate destination, it will also be an art destination, he said.

The public art programme includes Garden, an arresting marble inlay work with trees, streams and mountains and a recreation of life-size 11th-century implements to determine location that children and adults stop to examine.

Mr Al Khatib described the new space as a must-visit destination for all who loved the Expo.

What will bring families here? Food, exploring, parks, entertainment, museums, everything is going to stay as you could see it during the Expo, he said.

Mr Al Khatib said the enjoyment of visitors at the world fair was a treasured takeaway from his time spent working with the Expo for the past nine years.

It has been amazing to see the reaction of the public, countries and participants from different groups coming to the Expo, he said.

In the morning you would see school kids interacting and playing. Its priceless for all the hard work of the past years.

He looked ahead to the future with mixed feelings.

I dont know should I be happy, should I be sad, Mr Al Khatib said.

I cannot imagine how I will feel on April 1.

Im sure it will be a time to reflect and relax and look forward to the next challenge.

Al Wasl Plaza has been Expos main staging area and the venue of unforgettable concerts featuring bands such as Coldplay. Pawan Singh / The National

Updated: April 02, 2022, 4:25 AM

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The forgotten futuristic London skyscraper the public loved but was torn down just one year after it was built – My London

Posted: at 9:42 pm

Londons skyline has changed drastically over the years. Buildings like The Shard, Gherkin and London Eye are all architectural masterpieces and are iconic to London. These buildings didnt exist 50 years ago but Londons skyline has continued to evolve to encompass the old and new. However, if you were to see a photo of the London skyline in 1951 you may be confused to see a gigantic rocket shaped sculpture and question where it is today.

The Skylon was built in 1951 as part of the Festival of Britain under the post war Labour government. The futuristic sculpture which was suspended in mid-air stood at 300 feet and weighed 100 tonnes. Philip Powell, one of the architects, described what it was like: At night it was lit from inside by hundreds of lightbulbs, and by day, when it was windy, the air rushed through the aluminium louvres that ran up the length of its central section, and made a humming sound."

The festival was a huge success with the public with over half the population turning up to check it out. Robert Hewison, a cultural historian, said he remembers paying five shillings (25p) to get in aged eight. He said: Skylon was a very beautiful piece of architecture. It was the tallest structure in London at that time and it spoke of rockets and space travel.

READ MORE: The forgotten London landmarks where Londoners arranged to meet their friends in the 90s before mobile phones

But despite its popularity with the public, when Churchill came back into power he was worried that the futuristic sculpture represented socialist Britain and demanded that the sculpture be dismantled just one year after it had been built. He claimed the festival was three-dimensional socialist propaganda and that the spidery cables supporting it were Just like modern Britain no visible means of support.

Since the demolition, there have been various rumours about where the sculpture ended up with some claiming it was thrown into the River Thames, or that it was buried under South Banks Jubilee Gardens. BBC Radio 4 launched a campaign to find out exactly where it ended up but the result of their investigation led to no impressive breakthrough, instead the sculpture found its way to scrap metal dealerships where it was subsequently made into cutlery.

However, in 2011 an original part was found in the living room of one Londoner's bedroom. The grandson of Percy Levy, a director of the firm hired to demolish the Skylon in 1952, revealed that he owns a part of the vertical structure. Nick Baughan said: The company was given the responsibility of scrapping it, and he stole a bit.

Today, you would have no idea that an iconic British landmark used to stand at Southbank. Instead, a simple gold ring on the Queen Elizabeth Walk commemorates the place where the tower stood. It reads: I saw a blade which rises in the sky held by hardly nothing at all.

Do you have a story you think we should be covering? If so, email gabriella.clare@reachplc.com

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Former Oklahoma senator shares story of gambling addiction to help others – KTBS

Posted: at 9:41 pm

SHREVEPORT, La. Rick Brinkley was at the top of his career. He had been a pastor, an Emmy nominated television producer for the Sally Jessy Raphael show, a successful businessman and was elected to the Oklahoma State Senate in 2010 and again in 2014.

But less than two years after the most recent senate victory, it all fell apart due to a gambling addiction. Now, hes sharing his story to help others bring their addiction into the light.

Brinkley grew up without vices.

"To this day, I've never had a drink of alcohol in my life, said Brinkley. I've never used a drug in my life."

But when he walkedinto a casino with a group of friends, his world changed instantly.

"At that point, it was over, he said.

Brinkleysaid it was like walking into a snow globe.

"Everything outside of that building disappeared, he explained. Nobody asked me for anything. Nobody wanted anything. I could just sit there and mindlessly focus on nothing."

The gambling addiction started immediately. It wasn't money he craved. It was the escape.

"It's the same, I think, for a lot of addictions, whether it's drugs or alcohol, it's the escape, Brinkley said. It numbs you to what is going on around you."

And like other addictions, it is a progressive disease, meaning it continues to get worse.

Its a brain thing, said Brinkley. The chemistry of the brain kicks into action and you have the exact same kind of reaction a gambler does in a casino as somebody else does when theyre taking a hit.

But unlike other addictions, it is easier to hide.

Literally no one, no single human being knew I had a gambling problem," Brinkley said.

Until they did.

His former employer, the Better Business Bureau of Tulsa, discovered Brinkley, its chief operating officer, had been taking money. And the Oklahoma State Bureau of Investigation was called.

He resigned his senate seat.

When the story broke, and I was breaking news on my friends phones, I had to get to my family as soon as possible, Brinkley said.

Brinkley pleaded guilty to wire fraud and tax evasion in connection with the embezzlement of over $1.8 million. Much of it was used to cover gambling losses.

I lost everything because of the laws I broke trying to keep my addiction going, he said.

And in a twist of irony, the feeling of escape he craved from gambling ended up costing him his freedom.

I ended up spending three years in prison and have a felony on my record, Brinkley said.

After prison, he went to a treatment facility in Shreveport, a community he says holds a special place in his heart, because it is where he got his life back together.

I was an incredibly broken human being, and ended up going to the Center for Recovery in Shreveport, he said.

He has not gambled since.

Im going to hold onto the people who love me, he said. Im going to hold onto my financial resources. Im going to hold onto everything Ive got.

And now hes helping others by telling his story. Brinkley says one big step to recovery is to own your garbage.

If youre always afraid that somebody is going to find something out about you, it ultimately controls you. Addiction is a horrible place to live. Brinkley said. Now Ive got nothing to hide. And when you live in that space, its the happiest youve ever been in your life.

Brinkley encourages anyone with a gambling problem to get help. He says addicts are able to compartmentalize and even consider gambling to be a hobby. He says they can convince themselves they are enjoying it while they are actually completely destroying their lives.

But it will all eventually come crashing down.

Brinkley says if you have a loved one you think may have a gambling problem there are a few signs to watch out for. Someone may have a gambling problem if they are gone for long periods of time without telling you where they have been, if money often goes missing, and if they seem secretive. He also says they may often smell like smoke, or use cologne to cover the casino smell.

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If you or someone you love may have a gambling problem, call or text 1-877-770-STOP.

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UK to ban gambling ads featuring sports and reality TV stars – The Guardian

Posted: at 9:41 pm

Gambling and betting companies will be banned from using advertising featuring top-flight footballers and other sports personalities, as well as reality TV and social media stars, under new rules designed to protect under-18s and other vulnerable groups.

The changes, set out by the body responsible for the UK code for advertising, will mean that past betting and gambling marketing that features stars and celebrities such as Cristiano Ronaldo, Jos Mourinho, Michael Owen and Harry Redknapp, would not be allowed in the UK.

The wide-ranging new rules also include a ban on showing specific teams football kit and stadiums in ads, as well as using video game content and gameplay popular with under-18s.

No more top-flight footballers or other high-profile sportspeople promoting the latest odds, said Shahriar Coupal, the director of the Committee of Advertising Practice, which sets the rules enforced by the UKs advertising watchdog. No more social media influencers, TV stars or other celebrities popular with children inviting us to bet on red. And, no more gambling ads featuring video game images or gameplay familiar to many childrens lives.

Under the current rules, an advert is banned only if it is likely to appeal more to an under-18 than to an adult. Under the new rules, an ad will be banned if it is likely to be of strong appeal to children or young persons, especially by reflecting or being associated with youth culture, regardless of how it may be viewed by adults.

The new rules come into force from October, in the run-up to footballs World Cup in Qatar the following month, a sporting event around which gambling and betting companies traditionally spend heavily on marketing to attract gamblers.

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However, the Advertising Standards Authority, the body that enforces the UK ad code, does not have the power to regulate in the contentious area of team sponsors.

This might not seem immediately significant but its effect particularly in a World Cup year will be dramatic, Coupal said. By ending these practices, our new rules invite a new era for gambling ads, more particular to the adult audience they can target and more befitting of the age-restricted product theyre promoting.

The new rules will ban the use of any celebrity, from sports stars to Love Island contestants, with a significant fanbase of under-18s, in betting and gambling ads. The rules apply to broadcast media, such as TV, radio and cinema ads, as well as non-broadcast such as online and in newspapers or on billboards and posters.

The ASA said that children were still seeing on average 2.2 betting or gambling ads a week, although this is the lowest level in 12 years, with existing rules banning anyone under the age of 25 being used in an ad.

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The UK’s Gambling Industry Might Soon Have Access to Some… – Casino.Org News

Posted: at 9:41 pm

Posted on: April 6, 2022, 05:43h.

Last updated on: April 6, 2022, 11:46h.

UK government leaders appear to be ready to embrace some types of cryptocurrencies. They could soon recognize them as a legitimate form of payment, which, in theory, means that the gambling industry in the country could soon accept certain forms of digital currency.

The UK just announced a new ambition. It wants to become a global crypto-asset technology hub. One step will be to recognize cryptocurrencies as a legitimate alternative to fiat to achieve this.

The UK Treasury is going to begin to regulate stablecoins. This, according to an official government announcement, seems to be more than just a pipe dream. Legislation is being drafted to officially make stablecoins a form of payment. The government hasnt announced which stablecoins it will approve, and there are plenty from which to choose. The most well-known options are Tether, USD Coin, and DAI.

Stablecoins are cryptocurrencies where the price is designed to be pegged to a cryptocurrency, fiat money, or exchange-traded commodities.

Stablecoins have direct links to fiat currencies. They differ from other digital currencies in that their value, in theory, moves in unison only with the value of their fiat counterpart. As such, stablecoins cannot experience some of the wild fluctuations in value that bitcoin and others experience.

The decision isnt necessarily the government stating that it is time for cryptocurrencies to be recognized globally. Its a move to propel the UK forward, and the government hopes to turn it into a global cryptocurrency technology hub.

This is part of our plan to ensure the UK financial services industry is always at the forefront of technology and innovation, states Chancellor of the Exchequer, Rishi Sunak.

As long as the initiative is allowed to proceed, it could also benefit the gambling industry. Transacting with cryptocurrencies is significantly cheaper and faster than using bank transfers or debit and credit cards. Digital currencies also make it easier for businesses to operate globally, eliminating barriers to cross-border payments.

The UK might eventually embrace some other forms of digital currencies. The Treasury confirmed that it would review the possibility later this year but didnt specify what options might be on the table.

Around 9.8 million Brits hold cryptocurrency, a six-fold increase from 2018. Digital currency and gambling have always had a close relationship, and the UKs decision could fortify that link.

The announcement that approval of stablecoins could be coming to the UK is substantial. However, the government has other plans, as well. It will reportedly look into adopting distributed ledger technology for its financial markets and develop a financial market infrastructure sandbox.

In addition, a non-fungible token (NFT) is coming this summer. The Treasury and the Royal Mint will collaborate on developing the token, an emblem of the forward-looking approach the UK is determined to take. Decentralized finance (DeFi) loans could also officially arrive. These alternatives allow any holder of digital assets to lend those assets to others and earn interest.

The government plans on considering whether it can support DeFi loans by altering the tax rules. If successful, it would mean a more competitive lending environment.

Should the UK implement all of its plans, they would have far-reaching effects extending beyond its borders. Others, such as the US, would need to update their policies to not fall further behind.

The US has limited ties to stablecoins currently but acknowledges that they are present in the financial lending sector. However, it has not officially taken a stance on their use as a form of payment.

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The UK's Gambling Industry Might Soon Have Access to Some... - Casino.Org News

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