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Daily Archives: July 23, 2022
DISCOVERY BEHAVIORAL HEALTH ACQUIRES ANEW ERA TMS & PSYCHIATRY WITH 12 LOCATIONS IN CALIFORNIA AND TEXAS – PR Newswire
Posted: July 23, 2022 at 1:05 pm
A third of Americans believe it is harder to find a mental health care than it is to find a physical health care.
Discovery President & CEO John Peloquin states, "We are pleased to welcome the team at Anew into the Discovery family. This addition builds on our strategic mission to create a fully integrative care model, with multiple treatment models, both conventional and innovative, available through one access point. A 2022 Harris Poll report revealed that a third of Americans believe it is harder to find a mental health care provider than it is to find a physical health care provider[i]. We are removing those barriers by expanding outpatient and telehealth services in psychiatry and addiction medicine which includes TMS treatment. When people can access a wide range of behavioral health services based on their needs and preferences, they have a greater chance to live happier, more rewarding lives, and that's why we're here."
About Discovery Behavioral Health
Everyone deserves a happy, rewarding life. That's why Discovery Behavioral Health has made evidence-based, outcome driven healthcare accessible and affordable since inception. With a full continuum of care detoxification, medical residences, residential treatment centers, partial hospitalization, intensive outpatient, outpatient, psychiatric and addiction medicine, TMS, virtual and telehealth services, we can offer the right care at the right time for adults or teens struggling with mental health, substance use or eating disorders. We are a contracted provider with 100 payers and other managed care organizations. Our portfolio of more than 145 treatment centers includes service lines in successful operation since 1985. When treatment is complete, our patients become part of Discovery's growing family of alumni, connected through free aftercare programs, support groups, activities, and a caring community. Because when quality behavioral healthcare is within reach, so is happiness.
Press Contact:Greg PtacekCommunicationsDiscovery Behavioral Health, Inc.[emailprotected]323-841-8002 mobile
SOURCE Discovery Behavioral Health
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How Caldic transformed its treasury function with a new TMS – Bobsguide
Posted: at 1:05 pm
The world is changing: despite the pandemic, the cost of living crisis, the horrors in Ukraine, and the rising spectre of inflation, the business outlook for many companies remains extremely positive. Many are expanding and whatever short-term difficulties there might be, in the longer term, many are expected to grow and thrive. But this has created several problems across the global economy, for while companies grow, their treasury systems are often very out of date.
While spreadsheets had their day, they are not sufficient to cope with a huge multi-national corporates (or even a smaller one) treasury needs. Other companies are plagued with too-small treasury teams or an ever-complex setup which means several companies require bespoke treasury management systems (TMS).
But even for the most well-established treasury teams, let alone those of start-ups and new entrants, it can be difficult to know where to start. Company needs vary enormously and there is no size fits all approach. So, what are the challenges, how did they arise, and what should a corporate do when their business is growing, and previous systems are no longer adequate for the job?
In 2017, Caldic, which provides inspiring solutions in life sciences and speciality chemicals, focussing on life sciences (food, pharmaceuticals, and consumer care) and industrial formulation markets, was bought by a private equity company. This transformed the business into a more centralised organisation, dramatically changing its treasury needs in the process. Previously, local management teams had been encouraged to take responsibility for their own profit and loss as well as funding and liquidity management. Something had to change.
Increased debt levels required Caldic to consider setting up a central treasury function. That same year, Bas Baaten was appointed as Caldics new treasury manager the first in the companys history. His job was to ensure Caldic remained within the adequate liquidity spot and central debt servicing. After setting up a global cash pooling structure and an excel based short-term cash flow forecasting process, Caldic was ready for the next stage of its treasury development: standardisation and automation.
Caldic needed a treasury management system that mirrored its move from essentially a family-run company to a private equity-funded level of entrepreneurship. Economic growth, fuelled by an expansion into developing markets, also spurred the need for change, specifically for a more in-depth and detailed cash overview, cash pooling, cash positioning and cash flow forecasting.
The first need to be recognised was the need to move from local management to a more harmonised way of working. The company was expanding and needed to update its processes by implementing a system that would run the day-to-day operations. But there were challenges.
In particular, the shift of taking the autonomy of the local management to arrange domestic credit lines and funding to group treasury was a hurdle which needed to be overcome. Although supported by cash pooling, dozens of IC loans and ample administration of those movements occurred, including the accrued interest calculations. Everyone wanted to know where the cash was, and when transactions would be settled. Following that, Caldic had to consider which software provider was the right fit for its business.
Flexibility was the key: given Caldic was in full growth mode, any software needed to ensure it could grow and adapt with the company. At the time of making its software decision, Caldic was making acquisitions of small companies, while merging with a similar-sized peer based in Latin America. The merger of two different entities, combined with the ongoing acquisition programme required the company to gain a firmer grip and control of processes to stay on top of its cash positions and visibility.
It was becoming increasingly complex with every acquisition, and full visibility was needed, along with the ability to have daily reporting and monthly profit and loss statements. In the wider economy, cash was also becoming more expensive. At the same time, any new treasury software provider would also need to cope with existing processes and procedures that could not be changed overnight.
The specific needs for applications centred on visible cash management with real time reposting and interfacing with bank portals. There was a requirement to centralise FX hedging, including central execution and deal capturing, which included an automated settlement process. Forecasting played an important role too, including data aggregation and data analysis over different time periods (weekly, monthly, and annually), comparing it to the allotted budgets. Another important function was monitoring positions and risk exposures, both on the FX and intercompany (IC) loan administration front. Caldic also required there to be an audit function, third-party account for future changes to payment processing on the FX side.
After reviewing several potential providers, Caldic opted to partner with Salmon Software. A boutique treasury management system (TMS) provider, Salmon offered to provide Caldic with the individual attention required during a treasury overhaul. Unlike much of the competition, the company was able to offer a TMS that fit with Caldics needs, as opposed to the other way around.
Many systems offer a prescribed way of working, a variation of Henry Fords dictum about the cars he would sell: Any colour as long as its black. To avoid that, Caldics short list would be restricted to TMS systems that Baaten worked with before in his career; as a result, the company chose to team up with Dutch based treasury consultant, Orchard Finance. After discussing Caldics functional and technical requirements, a TMS vendor selection process was executed. Several TMS vendors were identified as possibilities, but in the end, it was Salmon Software that won through.
The reasonable price and quality of the option of course played a role, but perhaps the most important element was the flexibility in both the software and with regards to flexible implementation approach. During weekly progress calls between Caldic, Orchard Finance and Salmon, implementation progress was monitored, and workload adjusted to Baatens availability. Flexible interfacing was based off Microsofts cloud hosting service, Azure, allowing Caldic to operate in a separate environment, while also providing the ability to aggregate various sources to maximise efforts.
Scalability, when new acquisitions are made, is also part of the system. Both incoming and outgoing sources can work with any file format required. Interfaces can be automated meaning no user intervention, while it also provided better cash visibility, making it easier to have in-depth insights on cash positions.
Perhaps the biggest benefit of the new TMS was it freed Baaten from the minutia of the day-to-day running of the function which gave him more time to concentrate on strategic decisions. It also allowed the treasury function to move from a reactive to a more pro-active approach.
The system also created a central connectivity point, important for a company rapidly expanding. Local finance directors were able to input data from their business and geographical area, which could then be used in a logical manner in the TMS. Specific tools across the board also supplied not just connectivity but conversion to make data standardised across the board. Furthermore, the TMS also made it possible to take data from other systems.
A core reason for choosing Salmon was its user interface Caldic needed a system existing subsidiaries could switch to without impacting their working practices. Salmons software did just that and allowed new subsidiaries bought on through acquisition to also latch on without problems.
Another benefit was improved cash visibility. When Baaten or anyone else walked into an office and turns on a computer, whatever he wanted to see would be there on the screen. Previously this had entailed a lot of work; now the system automatically runs the upload upon which the position is readily available the next morning. There is now one system with a single source, which has created dashboards that provide a complete view.
Since adopting Salmons platform, Caldic has seen its processes harmonised, centralised, standardised, and benefited from its scalability as it has continued to grow and acquire other companies. From the automation of cash flow reporting between the ERP and Salmon Treasurer, to improved visibility of the daily FX process workflow, Caldics treasury function has been enhanced.
The adoption of Salmons software has had an impact on Caldics bottom line. Treasury, who were previously bogged down with tediously manual tasks, can now take a greater role in the strategic decision-making so crucial to todays treasury function. And this is only the beginning: Caldic plans to expand its treasury function further as it does, new products will be needed.
TMS systems are crucial for todays treasurers, but companies should take their time choosing the provider who is right for them. A provider should be there for implementation and be able to adapt its offering to each clients specific needs, with an awareness software will need to evolve alongside economic conditions.
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How Caldic transformed its treasury function with a new TMS - Bobsguide
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Neuronetics Receives FDA 510(k) Premarket Notification Clearance For The Neurostar TMS Therapy System For – Benzinga
Posted: at 1:05 pm
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2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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New study finds pulsed MRI system could deliver drugs to the brain – EurekAlert
Posted: at 1:05 pm
For any drug to be successful in treating mental health or neurological problems, the medicine has to penetrate the blood-brain barrier (BBB). The BBB is caused by tight openings in the microscopic vessels of the brain which prevent harmful substances from entering the brain, but also keep most useful drugs out. For example, only 0.01% of the anti-Alzheimer therapeutic antibodies in plasma enter the brain. Of those few drugs that can enter the brain, many cause affect unwanted targets to cause side effects (for example, dyskinesias or weight gain). In results published today in the journal Pharmaceutics (https://www.mdpi.com/1999-4923/14/7/1503), Weinberg Medical Physics (WMP) has demonstrated the ability to open the blood-brain-barrier (BBB) in mice and to safely deliver drugs using pulsed magnetic fields with tailored waveforms. This work, performed in collaboration with Georgetown University, spurs development of a new class of noninvasive image-guided devices capable of safely treating many mental health and neurological disorders.
Funded by the National Institute for Aging grant aimed at curing Alzheimer disease, the authors demonstrated that a new type of MRI composed of electro-permanent magnets could be used to generate tailored electromagnetic waveforms, some of which were much more effective at opening the BBB than others. As in a CT scanner, the selective electromagnetic waveforms could be applied from multiple sources to focally deliver drugs to specific regions of the brain. The same device could also use magnetic pulses to help regrow neurons (plasticity), as is being done with transcranial magnetic stimulation (TMS). According to Dr. Irving Weinberg, President of WMP, This new device would allow psychiatrists and neurologists to treat diseased or underdeveloped brain tracts without causing unwanted side effects. Potential disorders to be treated could include addiction, autism, depression, neuropathic pain, and Alzheimer and Parkinson diseases.
Using an office-based human-sized version of this non-invasive device, it may prove possible to cure Alzheimers by delivering drugs and genes to specified tracts in the brain under real-time imaging guidance.
Experimental study
Animals
Opening the Blood Brain Barrier with an Electropermanent Magnet System
20-Jul-2022
All institutions declared in the article
Disclaimer: AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert system.
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Addressing the Driver Shortage from Within – DC Velocity
Posted: at 1:05 pm
A country-wide driver shortage has become one of the biggest challenges in todays transportation industry. Driver satisfaction, route efficiency and network optimization all play a role in how impacted a particular shipper or 3PL is by a shortage of drivers. While there isnt one overnight fix for this type of challenge, there are a few techniques that can help shippers and 3PLs maintain driver satisfaction and help alleviate the driver shortage.
Network Analysis
What is it?A detailed supply chain network assessment, during which organizations consider suppliers, distribution centers (DC) and customer networks, is critical in optimizing transportation operations. As standards for speed and execution of delivery to the customer increase, this step ensures that all segments and locations are strategically aligned to provide a more efficient operation.
When performing a network analysis, shippers should focus on creating shorter routes. Shippers can accomplish this effectively by realigning their shipping layout in closer proximity to the overall customer delivery location. Identifying service levels, focusing on the various transportation modes used in your logistics network, and performing a shipping consolidation modeling exercise will help mitigate overall transportation costs as well.
Benefits:
Reduce transportation costs It is no secret that transportation costs have been rising. Optimizing routes with an effective network analysis is key for minimizing unnecessary transportation costs, including capacity and fuel charges.
Meet service level agreements Customers increasingly want faster delivery times and more order visibility, and a well done network analysis will enhance your ability to make and keep those promises.
Freight Term Optimization (FTO)
What is it?Freight term optimization helps shippers determine which lanes provide the most value and risk. Evaluating freight lanes will uncover how shipments are being consolidated or routed and enable assessment of who should own that lane. The shipper will ultimately determine who will take full control of that origin-destination (OD) pair based on costs and capacity constraints. Lanes that are closer to the shipping location may want to be kept in-house, while lanes that provide less value based on service level and cost could be better handled by the vendor.
Benefits:
Optimizing transportation costs -FTO is a long-term process that can help shippers optimize their freight costs to gain a more competitive advantage in the current overwhelming transportation market.
Enhance efficiency - FTO ensures that the most efficient lane is used during the shipping process, allowing product to be shipped more quickly and efficiently to the customer.
Transportation Management Systems (TMS) Route Optimization Configuration
What is it?Transportation Management Systems are vital in managing shipment coordination and the transportation network. One critical feature for any TMS is route optimization configuration, which provides a better understanding of how many shipments are being leveraged on a daily and weekly basis. Shippers and 3PLs should compare their actual plan to the plan that is being generated within their TMS.
TMS-managed route optimization does not consider per diem cost, delays or road closures, so comparing your actual route optimization plan would identify gaps within your load planning process.
Benefits:
Optimal route selection Route optimization tools within a TMS enable a driver to take the more efficient route rather than alternative routes that may cause delays.
Improved SLAs If drivers are consistently taking optimized, more efficient routes, they are more likely to meet customer promises regarding delivery times.
Relay Driving
What is it?Relay driving is an efficient approach to shortening a drivers route that involves two drivers meeting at a midpoint to swap loads. During the delivery process, the driver will not have to conduct a live unload at the destination facility which will prevent any sort of detention at the consignee.
To avoid system configuration problems and ensure that this process runs smoothly, shippers must have certain parameters in place within their TMS. Shippers and 3PLs can maximize driver utilization hours by leveraging the TMS data to confirm they are choosing the correct relay points. One strategic approach is setting the relay point at the delivery facility to avoid unsuitable touchpoints that may potentially lead to unexploited utilization hours.
To increase the value of this process, shippers and 3PLs should stay away from deadheading hauling an empty trailer with no cargo - which provides no benefits to the driver, who cannot earn additional income without hauling a load. Organizational leaders should also ensure oversight of the inventory management perspective of equipment as shippers and 3PLs must be strategically swapping trailers during a relay point instead of moving trailers solely for inventory management.
Benefits:
Route shortening: Relay driving allows the driver to shorten their route by exchanging midway, improving work-life balance and job satisfaction.
Optimizing equipment management:This strategy allows companies to adjust their trailer allocation based on demand in a certain area or region.
Maximizing DOT hours:With relay driving, drivers will not have to spend time loading or unloading at a destination point, maximizing their hours.
Driver Selection
What is it?Ensuring drivers are satisfied with their routes will improve driver retention. One approach to this would be shifting to a routing optimization tool versus a manual process. Implementing practices that assign drivers to more dynamic routes with an automated process will eliminate favoritism in load planning. Additionally, shippers can leverage a mobile application that connects drivers to shippers. This type of application makes it effortless for drivers to secure loads while selecting specified lanes, load types, review pricing, and obtaining payment in a timely manner.
Benefits:
Driver satisfaction Giving drivers more power over their routes will increase satisfaction, decrease turnover, and avoid further challenges of a driver shortage.
Effectively manage service hours - Drivers can review the closest backhaul based on their delivery location to ensure they are managing service hours effectively.
Conclusion
The driver shortage has impacted shippers and 3PLs across the country, and many have been unsure how to mitigate the impact. These are just a few tactical ways that organizations can ensure they consistently have the drivers, technology and processes in place to meet service level agreements and customer promises without a hitch.
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Tonganoxie USD 464 hires from within, names new THS principal and AD | TonganoxieMirror.com – The Mirror
Posted: at 1:05 pm
Tonganoxie High Schools new administrative team officially became complete earlier this month when they were approved at a board meeting July 6.
Cody Witte, who has been the activities director/assistant principal the past two years, is the new THS principal. He replaces Mark Farrar, who stepped down after nine years in Tonganoxie, first as Tonganoxie Middle School principal and then THS principal.
A longtime TMS teacher will now step into Wittes role as activities director and also will take the helm of a new position: dean of students. Josey Eastes will have the dual roles after 13 years at TMS as seventh-grade social studies teacher.
Kelly Hoopes will begin her second year as THS assistant principal.
Tonganoxie USD 464 board members also approved other personnel recommendations during a special meeting July 6 and additional recommendations during their regular meeting July 11.
Contract/work agreements approved July 11 were Nick Butler, Tonganoxie High School special education interrelated teacher (one-year contract); and Nick Johnson, Tonganoxie Middle School social studies teacher (one-year contract).
A resignation also was approved for Javier Trujillo, THS assistant coach for boys and girls soccer.
Recommendations approved July 6 for contract/work agreements were Tiffani Lang, Shanna Sparks and Megan Rauh, transportation; Nicole Martin, building aide; Christy Angell, library aide; Julie Purin, Tonganoxie Elementary School music teacher; Tiffany Trent, THS special education paraprofessional; Kaycie Odell, TES kindergarten aide; Lauren Ingram, TES special education interrelated teacher; and Kirk Baggett, DAC custodian.
In additional Heather Norris, TES special education interrelated teacher, was released from her contract.
The board approved other action items during the meeting, including:
lBecky Ambrosia Nasalroad as engagement specialist contingent upon a background check.
lTeacher negotiations with Tonganoxie Teachers Association and contracts for all building administrators.
l2022-23 academic calendar
l Jim Bothwell and Chris Gratton as board president and vice president, respectively.
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John Eastman Can Cry On Fox About Being Treated Worse Than A Drug Dealer, But The FBI’s Not Giving His Phone Back – Above the Law
Posted: at 1:04 pm
(Photo by Alex Wong/Getty Images)
If you texted John Eastman, in the past week or two, you may be waiting a while for a response. On Friday, US District Judge Robert C. Brack denied the Trump coup lawyer a temporary restraining order mandating the return of his iPhone after the FBI seized it on June 22 pursuant to a warrant.
If you were unfamiliar with Eastmans oeuvre, you might expect a former ConLaw professor to appreciate that the odds are pretty good that the government is going to win a Fourth Amendment seizure case particularly when they showed up with a signed warrant. But considering that Eastman was the main driver of a plan to allow the Vice President to unilaterally decide the winner of an election, it seems pretty on-brand. We are, after all, talking about a guy under federal, state, and congressional investigation, who nonetheless went on Tucker Carlsons show to encourage the routine spoliation of evidence.
On July 8, Eastmans counsel asked the court to issue a temporary restraining order to force the government to give back his phone and delete any copies of his hard drive, based on various First, Fourth, Fifth, and Sixth Amendment claims. Unlike in his original complaint, Eastman acknowledged this go round that the warrant clearly contemplates putting a filter team in place to shield any attorney-client documents.
The investigative team will not review the contents of the device(s) until further order of a court of competent jurisdiction. If a forensic extraction or manual screen capture of the contents of the device(s) occurs during the execution of the search warrant, the contents will not be reviewed by the investigative team until further order of a court of competent jurisdiction.
Nonetheless, he accuses the government of rummaging through the device and blithely asserts that [t]he complete absence of any proposal from the government for protecting privileged information makes this an open and shut case for likelihood of success.
Well, perhaps not.
Because there is no evidence that the Government has searched the phone or plans to search it without the benefit of a Filter Team, and because the warrant specifies that no search of the phone will occur until further order of the court, Eastman fails to show a likelihood of success on his claim under the Sixth Amendment, wrote Judge Brack, the senior judge in the District Court of New Mexico.
Eastman similarly failed to persuade the court that the warrant was defective becauseinter aliathe supporting affidavit wasnt attached, the agents were allowed to unlock it by holding it up to his face (OpSec FTW!), or because a warrant for any electronic or digital devicesincluding cell phones, USB devices, iPads, and computers identified in the affidavit and all information in such devices is somehow not specific enough to cover the seizure of his cell phone and all the information in it.
The court rendered no opinion on Eastmans bold claim that, if only the officers had allowed him to see the warrant before demanding that he hand over the phone, Movant would have been able to call the officers attention to the several constitutional infirmities evident on the face of the warrant, thus preventing the unconstitutional seizure in the first place.
But the court failed to be persuaded by Eastmans argument that it was illegal for the officers to take the phone first and give him the warrant second. Ditto for his position that the lack of reference to a specific crime in the warrant makes it defective.
Finally, Eastman contends that the warrant is facially invalid because it does not mention any particular crime for which the evidence was sought Judge Brack writes, noting dryly, He does not cite any authority on point.
The court set a briefing schedule on a possible preliminary injunction which puts the parties back in court on September 6. So if you want to be in touch with the Coups 4 Dummies lawyer before then, shoot him an email. But maybe dont put anything too personal in it theres always the outside chance that some agency or other might wind up reading it.
Eastman v. US [Docket via Court Listener]
Liz Dyelives in Baltimore where she writes about law and politics.
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John Eastman Can Cry On Fox About Being Treated Worse Than A Drug Dealer, But The FBI's Not Giving His Phone Back - Above the Law
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Letter to the editor the changing color of democracy – LubbockOnline.com
Posted: at 1:04 pm
Lubbock Avalanche-Journal
I am an old person and depressed. The United States Supreme Court seems to have taken a hard right turn. Given their Black Robes and Lifetime appointments, they are immune to public opinion and even that pesky Constitution. They can accomplish what their party has failed to do for decades.
In 2013 the Supreme Court struck down portions of the Civil Rights Act. Many states immediately took action to remove those rights from selected portions of Americans. The 2022 US Supreme Court has taken an even harder conservative step forward, it has granted the Federal Government sovereign immunity. That means that the Government cannot be held accountable for any violations of Civil Rights no matter how egregious they may be. This is a historical action, if you are interested in 1930s German history. If your civil rights get violated, all you will see is the Justices tapping out the rhythm while the government sings MC Hammer's U Cant Touch This. So much for that pesky Constitution's Fourth Amendment.
This is just the start of whats to come. The Supreme Court is going to change Democracy in America. If you are wondering what can be done, nothing. Black Robes and Lifetime appointments, they are untouchable. They're loyal and answer only to those who put them on the bench. Im afraid the color of the fabric of Democracy in America is no longer Red, White and Blue, but its more just red, a bright shiny red.
John Hodge/Slaton
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Letter to the editor the changing color of democracy - LubbockOnline.com
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What to Know in Washington: Biden Vows to Act Alone on Climate | Bloomberg Government – Bloomberg Government
Posted: at 1:04 pm
President Joe Biden vowed to take executive action on climate change after Sen. Joe Manchin (D-W.Va.) put a sweeping tax and energy bill on hold, telling congressional Democrats to move ahead on a smaller measure to rein in drug prices and stop premium hikes for Obamacare.
Manchin said hed be willing back a prescription drug pricing package tied to a two-year extension of Affordable Care Act subsidies before a scheduled August recess. But he put the brakes on enacting a wider package of tax changes and measures to address climate change until at least September.
The Senate should move forward, pass it before the August recess, and get it to my desk so I can sign it, Biden said in the statement. While the statement never mentioned Manchin by name, Biden added that cutting the cost of prescription drugs and health care would reduce the deficit and fight inflation, two major issue for Manchin. Read more from Nancy Cook and Erik Wasson.
Eric Lee/Bloomberg
Sen. Joe Manchin (D-W.Va.) in March 2022.
CONGRESS AGENDA:
Regulations giving US House staffers the right to unionize kick in Monday, allowing workers who have been negotiating behind the scenes for months to move into a more public phase. Members of the Congressional Workers Unionthe primary group leading the drive for stafferssaid in an interview that the regulations taking effect allow staffers to feel fully secure and protected once they begin organizing in the daylight. Read more from Emily Wilkins and Paige Smith.
New requirements for contractor labor practices, improvements to federal and defense supply chains, and increased opportunities for small businesses are all part of the House-passed annual defense policy bill. The chamber approved the following contractor-related provisions as amendments to H.R. 7900, the National Defense Authorization Act for fiscal 2023. It passed the final version July 14. Read more from Patty Nieberg.
The House committee investigating Jan. 6 expects to receive texts it has subpoenaed from the Secret Service by Tuesday, panel member Zoe Lofgren (D-Calif.) said. A US Secret Service spokesman said Saturday the agency will cooperate by responding swiftly to the subpoena. Read more from Tony Capaccio.
Leadership have circulated text and a summary of legislation that would include $52 billion in grants and incentives to attract chip companies to the US along with money for training and wireless technology, according to a person familiar with the matter. Daniel Flately has more details.
Democratic candidates started July with a huge financial advantage in four of five US Senate battlegrounds that could determine which party controls the chamber next January, Federal Election Commission filings show. Republicans need to pick up one seat to take the chamber. But in three states that represent the most likely pick-ups and one where they must hold an open seat, Republicans will have to overcome a mountain of Democratic cash. Read more from Bill Allison.
Texas Democrats, underdogs for decades, probed for possible GOP weakness this election year at a biennial convention that focused on restoring access to abortion, protecting transgender rights and fortifying the electric grid. The goals were listed in a draft of the party platform released Saturday at an event in Dallas. Read more from Shelly Hagan.
Maryland primaries on Tuesday will pave the way for Republicans to retain control of one House district and have a shot at winning a second. If that doesnt sound like much for Republicans, its more than they may have expected after redistricting in staunchly Democratic Maryland. The Democratic legislatures initial congressional mapone that could have delivered an 8-0 shutout for the partywas struck down earlier this year. Read more from Greg Giroux.
Four years after angrily denying sexual assault allegations at his Senate confirmation, Justice Brett Kavanaugh remains the Supreme Courts lightning rod no matter how many conciliatory opinions he writes. Read more from Greg Stohr.
PRESIDENTS SCHEDULE:
A US energy envoy said he is confident Gulf producers will increase oil output after Bidens visit to Saudi Arabia, where he met with regional leaders. Based on what we heard on the trip, Im pretty confident that well see a few more steps in the coming weeks, Amos Hochstein, the State Departments senior adviser for energy security, told CBS Sunday. Hochstein, who was part of Bidens delegation on the visit, also cited Gulf oil producers Kuwait and the United Arab Emirates. Read more from Victoria Cavaliere.
Yellen said her plan to limit Russias oil earnings can overcome fears among potential partners that President Vladimir Putin may retaliate. What I heard was concern about retaliation, Yellen said Monday in an interview en route to Seoul, South Korea, after attending a gathering of Group of 20 finance ministers in Bali, Indonesia. Chrisopher Condon has more.
A judge in Tennessee temporarily blocked the Biden administrations rules ensuring transgender people at schools and workplaces have access to bathrooms, locker rooms and sports teams, the latest setback for LGBTQ Americans amid a backlash from Republican-led states. Read more from Erik Larson.
Civil liberties advocates are accusing Homeland Security of skirting the Fourth Amendment by buying access to peoples cellphone location data. The ACLU unveiled a tranche of records Monday showing how DHS obtained vast amounts of location data from companies that aggregate and sell the records. Read more from Ellen M. Gilmer.
To contact the reporters on this story: Brandon Lee in Washington at blee@bgov.com; Michaela Ross in Washington at mross@bgov.com
To contact the editors responsible for this story: Giuseppe Macri at gmacri@bgov.com; Loren Duggan at lduggan@bgov.com
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Stablecoin and other digital assets are falsely framed as a choice between personal privacy and national security. We can have both. – MarketWatch
Posted: at 1:04 pm
As the world grapples with the rise of transferable digital assets from central-bank digital currencies (CBDCs) to stablecoins an oft-repeated concept is that national security and law enforcement will be in conflict with individual privacy.
This belief is based on the idea that we have only two choices: either reveal individual identities so that governments can track and trace potentially illicit digital transactions, or preserve individual privacy and severely jeopardize law enforcement interests. This binary concept is on track to inform policy, regulation and product development that could permanently impact the evolution of digital assets, computing systems, and finance.
It is a false choice, and one we should not accept.
The stakes are admittedly high when it comes both to law enforcement and individual privacy. We cannot and should not accept a future digital landscape where terrorists and criminals abuse the system. Nor can we accept a world where individuals sacrifice their right to privacy by exposing, en masse, economic and personal details to commercial or governmental actors.
Todays system of applying anti-money-laundering (AML) and know-your-customer (KYC) requirements is predicated on individuals turning over sensitive personally identifiable information (PII), which is susceptible to hackers and potential invasions of privacy by public and private sector entities. This cache of information, which includes full names, addresses, birthdates, Social Security numbers, business partners and more, is repeatedly disclosed to different institutions making each of them a holder of exceptionally sensitive data that cannot be put back in the bottle once exposed.
Fortunately, recent years has brought a range of privacy-enhancing techniques (PETs) that may create an ideal arrangement. At their core, these techniques are focused on being able to confirm certain critical information about an individual engaging in a transaction (for example, that the individual isnt on a terrorist watchlist), without revealing PII about that individual. Promising areas include zero-knowledge proofs, homomorphic encryption and multi-party computation, which generally enable parties to prove that an encrypted proposition is true without revealing the underlying information.
For example, cryptographic techniques can prove that someone is over 21 years old, rather than showing a drivers license that reveals personal information such as a home address. A zero-knowledge proof can keep such information encrypted, but perform a computation to verify that the encrypted birthdate is on or before the threshold date 21 years prior.
Likewise, cryptography can allow portable credentials that prove, rather than disclose, key elements, such as what trusted entity has conducted customer due diligence, what elements of information were checked, including sanctions lists, and more. This approach can drive expanded opportunities for people to access financial services through digital wallets faster and more broadly, including for economic impact payments and other emergency services. It will also safeguard and secure underlying personal information, which will no longer be as vulnerable to exposure from hacks. PII would only be revealed upon other risk factors justifying it, subject to legal protections.
The privacy technology frontier has meaningful implications for U.S. policy.
First, and most importantly, it is critical that policymakers develop policy based on where technology is headed rather than where it has been. When automobiles first emerged in England, an old law dubbed the Red Flag Act required self-propelled vehicles (previously, only steam-powered locomotives) to be led at walking pace by someone waving a red flag. The New York Times aptly pointed out in 1895 that it served to destroy the usefulness of a horseless carriage.
We should similarly not build rules imposing traditional identity disclosure requirements akin to a mechanic walking alongside a vehicle with a red flag just because we believe it is the only way to satisfy key objectives. Programs including FinCENs PET-dedicated Innovation Hours Program that focus on the important role of privacy-preserving principles in developing technical solutions is an example of forward-leaning approaches that need to be replicated across government to ensure we have rules that incorporate technological advances.
Just as traffic laws, signals, and road signs were a better alternative to people carrying around red flags, privacy-protecting zero-knowledge proofs are a better alternative to people broadly sharing their PII.
Safely ensuring privacy for the digital economy will be a core global competitive advantage.
Second, the U.S. should be pursuing massive investment into public-private research efforts aimed at developing the worlds most advanced privacy-enhancing tools. Safely ensuring privacy for the digital economy will be a core global competitive advantage. It can attract global consumers to adopt American platforms and solutions as they aim to preserve their privacy in the face of increasing surveillance and exploitation efforts, including major nation-state cyber attacks and pervasive global attacks on journalists.
Such collaborative efforts would also embed American norms and values into our digital infrastructure in stark contrast to global competitors. The U.S. decided long ago that although encryption (and the Fourth Amendment) makes it more difficult for the government to monitor activity, that security provides critical protection from anti-democratic authoritarians and attackers. Breaches are significantly less severe if the system comprehensively encrypts (or declines to collect) data from the beginning. Advances in PETs allows for that protection while securely and privately verifying and computing, rather than exposing, data. The choice is not binary.
Some progress is being made. The White Houseissued a comprehensiveExecutive Orderon broader digital asset policy a few monthsago, and agencies are currently putting out requests for more information. For example, the U.S.Treasury Department recently issued a request for comment. There are also a number ofCBDC-related billsthat focus on privacy.
When applied to digital-asset innovations, including development of a digital U.S. dollar, PETs will solve one of the larger perceived policy barriers: having to make a binary choice between privacy and security, when in fact, privacy is a necessary part of security and our democracy. The boundless energy of American ingenuity has been unlocked when people feel secure from exploitation. Advances in cryptography can help ensure personal and democratic resilience with more mathematical certainty and dynamic opportunity than the politically-contingent, binary (and false) trade-offs that are being presented.
Daniel Gorfine is former chief innovation officer of the U.S. Commodity Futures Trading Commission, co-founder of the non-profit Digital Dollar Project, and founder of Gattaca Horizons LLC.
Michael Mosier is former acting director of the U.S. Treasurys Financial Crimes Enforcement Network (FinCEN), former deputy chief of the U.S. Department of Justices Money Laundering & Asset Recovery Section, and is currently general counsel at Espresso Systems.
More: The long-awaited U.S. data-privacy bill appears to be on track, again
Also read: Ro Khanna: Tech-funding bill is not just about jobs its about a new patriotism
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Stablecoin and other digital assets are falsely framed as a choice between personal privacy and national security. We can have both. - MarketWatch
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