Colombia: Cross Border Tech Innovation and Ecosystem building – PRNewswire

SAN FRANCISCO, Sept. 23, 2020 /PRNewswire/ -- Colombia continue its nearshoring virtual tour with a new stop, San Francisco, CA. The Organization Latin San Francisco, is coordinating an exclusive conversation on Colombian Tech and Colombian Silicon Valley success stories with former Vice President and current Colombian Ambassador to the United States Francisco Santos and the President of ProColombia Mrs. Flavia Santoro.

"Colombia is a hot spot for innovation, and it's only getting hotter. With a resilient economy, creative talent and the backing of the government, Colombia offers entrepreneurs, tech companies and venture capital firms a vibrant ecosystem for growing their business," said Francisco Santos, Ambassador of Colombia to the United States.

Colombia has secured its spot on the global map as a top emerging tech destination. From the World Economic Forum choosing Medellin as its Spanish language HQ for the Center for the Fourth Industrial Revolution, to a total of $1.09 billion in venture capital investments across 36 deals last year, according to LAVCA, Colombia is at the forefront of machine learning, fintech, e-commerce and logistics as well as a great location for nearshoring.

"Thanks to its advances in competitiveness, economic environment, innovation and level of risk, Colombia is projected as one of the countries in the region with the greatest potential for attracting Venture capital funds. The development of the Venture Capital fund industry in Colombia, coupled with a government that is committed to strengthening the entrepreneurial ecosystem, has allowed our country to climb in the ranking of the Latin American Private Equity & Venture Capital Association," stated Flavia Santoro, President of ProColombia.

The Event coordinated with Global San Francisco will also have a guest appearance from Ricardo Garcia-Amaya founder of VOIQ and Top US Latinx Tech Leader.

"At LatinSF we help our San Francisco tax paying companies and VC Funds find opportunities in Latin America. In the past 18 months, I've been asked time and time again, what are the latest Colombian startups that we should have on our radar? We want to invest in the next Rappi ," said Jolynn Vallejo, Director of LatinSF.

This virtual nearshoring tour will continue in other key states around the US including New York, Massachusetts, Ohio, Pennsylvania, Texas and Florida.

Other major Colombian investment events are happening, the sixth version of the Colombia Investment Summit this year, 7-9 October, will be virtual and is expected to attract between 1,200 and 1,500 attendees. More than 550 investorscoming from markets in Europe, Asia, Latin America, and North Americawill participate in over 1,000 business meetings.

SOURCE ProColombia

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Colombia: Cross Border Tech Innovation and Ecosystem building - PRNewswire

The DNS Ecosystem, Its Vulnerabilities, and Threat Mitigations – CircleID

David Conrad, CTO of The Internet Corporation for Assigned Names and Numbers (ICANN), recently presented a keynote during a webinar we collaborated on with other internet organizations. Below is a summary of his explanation of the domain name system (DNS) ecosystem, its vulnerabilities, and threat mitigations.

The Internet, as we know, largely depends on DNS. It is akin to the telephone book of the Internet, translating domain names into IP address, so users can easily look for websites with names instead of a string of numbers. The DNS isn't a single entity, and comprises the protocol, namespace, and service; its ecosystem extends to include software, provisioning, and others.

The DNS protocol, invented in 1983, was intended to be lightweight with a simple query-response behavior. To allow the DNS to scale, it was designed with a tree-like structure; each branch and level of domains, such as top-level domains, can be independently administered. With an expanding structure and multiple segments in the DNS ecosystem software, registries, network operators, hosting providers and more the DNS' complexity adds to the challenge in security.

David shared that "the DNS is a critical component of the Internet, and the DNS ecosystem is large, complex, and has myriad players of varying levels of competence, resulting in a (very) large attack surface."

When the DNS was first developed and defined, with no protection against data corruption, security wasn't a focus. Below are some of the DNS ecosystem vulnerabilities and their mitigations.

We have seen recent incidences compromising the DNS on various fronts:

The DNS provides a ubiquitous service critical to the function of the Internet. This, combined with the large attack surface, make the DNS ecosystem an excellent (and frequent) target of attack. It's constantly evolving to improve its efficiency, security, and function, such as DNSSEC. But each part of the DNS and its larger ecosystem has its own set of vulnerabilities, from bugs within the DNS protocol itself to how the DNS is deployed for operation. Hence, fixes for those vulnerabilities requires participation of all actors within the ecosystem from registrants to registries, DNS operators to software developers, end-users to governments to play a role in ensuring the security of DNS and the Internet.

To listen to the full explanation and details by David Conrad, watch the recorded webinar here.

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The DNS Ecosystem, Its Vulnerabilities, and Threat Mitigations - CircleID

Scaling Up The Start-up Ecosystem Recommendations Of Standing Committee On Finance – Finance and Banking – India – Mondaq News Alerts

24 September 2020

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Recently, the Parliamentary Standing Committee on Finance(2019-20) (Committee) presented its Twelfth Report on the subject'Financing the Start-up Ecosystem' (the Report) to theHon'ble Speaker on 9 September 2020.

The Committee was tasked with the responsibility of recommendingmeasures to enhance the availability of the risk capital to thestart-up ecosystem in India with a particular focus onstrengthening the Indian financial system so that more domesticequity capital is available to scale up the start-up ecosystems forbuilding on the goal of Atmanirbhar Bharat.

During the sittings, the Committee acknowledged the importanceof the start-up ecosystem in developing an innovation-driveneconomy and its role in recovery of the economy during and postCOVID-19 pandemic. The various steps were taken by the Departmentfor Promotion of Industry and Internal Trade (DPIIT) throughdifferent government schemes since 2016 were also noted. TheCommittee also considered several representations made by theprivate equity (PE)/venture capital (VC) industry representativesas well as consulted relevant ministries, including the Ministry ofFinance (MoF) and Ministry of Commerce (MoC), Department ofEconomic Affairs (DEA), and various regulators in relation to therepresentations made.

Basis the above discussions, the Committee, in its Report, hasmade recommendations for the growth of finance to the start-upecosystem. The paragraphs hereunder discuss the key recommendationsmade by the Committee.

The above recommendations of the Committee echo thelong-standing demands from the PE/VC industry and should go a longway in providing the much-needed financing for start-ups topersevere throughout the COVID-19 pandemic. These recommendationscould mobilize domestic finance from PE/VC funds, banking andfinancial institutions, HNIs, and mature companies. Theserecommendations could also bring parity in commercial gains andtaxes imposed on the risks capital for start-ups, boost foreigninvestments in Indian start-ups and make India a more attractivejurisdiction for raising funds. Considering that the above measuresare required to mitigate the impact of the COVID-19 pandemic on thestart-up ecosystem, it would be pertinent that these measures areimplemented at the earliest.

The content of this article is intended to provide a generalguide to the subject matter. Specialist advice should be soughtabout your specific circumstances.

POPULAR ARTICLES ON: Finance and Banking from India

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Scaling Up The Start-up Ecosystem Recommendations Of Standing Committee On Finance - Finance and Banking - India - Mondaq News Alerts

Why the new farm Bills should excite the advertising ecosystem – Business Standard

Many years ago, in the late 1980s, when I was an Account Executive at HTA Delhi, and servicing both Nestl and HMM (Horlicks), one important assignment on my job list for both clients every year in February-March used to be the Summer Milk Mobilisation Program. Both clients manufacturing plants those days were concentrated in Punjab Moga and Nabha, respectively. And for both milk was the base raw material. Weaning foods and baby foods needed perennial milk supplies at Nestl; malted milk foods (Horlicks and Boost) needed continuous volumes of milk, too, as the base manufacturing ingredient at HMM (which became SmithKline Beecham in time, and then sold its brands to Hindustan Unilever). In the lean summer months, milk supplies would dry up considerably. So, Nestl and HMM needed to shore up milk supplies through special promotions to tie up milk from all those cow owners who used to otherwise sell to local gwaalas (milkmen), mithai shops and milk cooperatives like Verka, Vita and Saras.

On the face of it, a promotion to buy more milk sounds simple and uncomplicated enough. In reality, it was perhaps the most important and 'mission critical' piece of communication that we would create as an agency for both the clients. Far more valuable than any commercials for brand support. Why? Because without desired quantities of milk, the plants would come to a screeching standstill.

The Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services; Farmers Produce Trade and Commerce (Promotion and Facilitation) Bill; and Essential Commodities (Amendment) Bill were all slated for parliamentary approval earlier this month. The first two Bills have been passed by both Houses, though there is widespread opposition as of now. Hopefully, the dust will settle down, sooner rather than later.

The Farmers Produce Trade and Commerce (Promotion and Facilitation) Bill allows barrier-free intra- and inter-state trade of farm produce. So far, farm produce has been sold at notified wholesale markets, or mandis, run by Agricultural Produce Marketing Committees (APMCs). Each APMC, of which there are about 7,000-8,000 nationally, have licensed middlemen who buy from farmers at prices set by auction before selling to institutional buyers like retailers and big traders. Under the proposed new system, farmers can (eliminate middlemen and) sell directly to institutional buyers at prices agreed between them. This throws up a host of possibilities for corporates planning to get into the agriculture business in the days to come. In the many years that I worked as Airtels exclusive monetisation partner for advertising apertures, one of our most potent rural offerings was the Green SIM card that Airtel had populated in rural/farming areas in partnership with Iffco. There were over half a million of them at one point. It was, and still is, a large readily addressable base of actual farmers that would be of interest to corporates wanting to join the new ecosystem. A whole new agricultural digital ecosystem is waiting to be created. Also, many years ago when I was at Zee, we discussed an agriculture/rural television channel with Rabobank of Netherlands. But 20 years ago, the opportunity was just not viable. Today, just Punjab and Haryanas mandis transact about Rs. 81,000 crore worth of rabi and kharif sales (wheat and rice crops, respectively). Markets in Uttar Pradesh, Madhya Pradesh, Rajasthan, Maharashtra, Andhra Pradesh and other states are equally attractive.

The Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services is supposed to allow contract farming, or allow farmers to enter into agreements with agri-firms, exporters or large buyers to produce a crop for a pre-agreed price. This will necessitate corporate brand building by companies among farmer folks. And these companies are not the ones selling tractors or seeds or fertilisers. They will be entities like ITC, Pepsi, HUL, Britannia which will want to create farm-to-fork value-chains portraying themselves as trusted, and dependable partners to work with. Ad agencies have their tasks cut out.

There is a lot of good work ahead in agri-tech that will get linked to market research and data analytics; there is going to be a lot of new digital stuff soon on price discovery, logistics, insurance, farm loans, best practices dissemination, content creation, media apertures, loyalty management, localised public relations, interface with panchayats, zila parishads, mandi boards, bigger and better rural melas of the B2B kind, not the usual haats.

There are 6,100 ITC e-Choupals in operation in 35,000 villages in 10 states (Madhya Pradesh, Haryana, Uttarakhand, Uttar Pradesh, Rajasthan, Karnataka, Kerala, Maharashtra, Andhra Pradesh and Tamil Nadu) today, touching around 4 million farmers. I expect this number to grow exponentially in the months to come. And for other companies to set up similar digital bridges to the agri-world. So, there is going to be tonnes of work for the advertising ecosystem to partner with clients.

The one big issue, going forward, is going to be trained manpower, and talent, capable of understanding the needs of this new B2B agriculture segment and empathising with the end customer. There are very few trained resources who understand this domain. The Institute of Rural Management Anand (IRMA) was a pioneer in this space. No other B-school has even looked in this direction.

Leaders of the advertising business have not been very nimble in spotting and grabbing opportunities in the past. They somehow have waited for the ball to reach them, before starting to respond or react. The farm Bills have opened up a vast canvas of 360-degree intervention points that have good revenue potential for ad agencies. Ad head honchos just need to be ready with offerings before management consultants grab the space. I really, and earnestly, hope they do not miss this bus going to Moga, Khanna, Hissar and beyond.

Dr Sandeep Goyal has worked 36 years in advertising & media

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Why the new farm Bills should excite the advertising ecosystem - Business Standard

VR AR Content Creation Ecosystem Market will Register a Significant CAGR During Period 2020-2026 | 18.5% CAGR| Know the Companies List Could…

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VR AR Content Creation Ecosystem Market will Register a Significant CAGR During Period 2020-2026 | 18.5% CAGR| Know the Companies List Could...

Tokenized Bitcoin on Ethereum Now Tops $1.1 B: Here’s Why – CoinDesk – Coindesk

To the surprise of many, bitcoin (BTC) has been a breakout star in Ethereums decentralized finance (DeFi) moment. Taking the form of wrapped or tokenized bitcoin, the digital asset takes the best of both blockchains bitcoins price value and brand along with Ethereums programmability into one highly in-demand token.

Last week alone, the supply of BitGos wrapped bitcoins (WBTC) topped 76,000 after setting an all-time record of nearly 21,000 wrapped bitcoins minted within one week.

The week before held the previous record of over 12,200 tokens minted in a single week, according to Dune Analytics.

Overall, investors have made tokenized bitcoin one of the largest assets on DeFi with nearly 107,000 BTC worth some $1.1 billion minted from seven issuers, mostly lured in by high rates of return on lending when compared to other options such as BlockFi.

Why use tokenized bitcoin?

What bitcoin on Ethereum does is simple: It provides liquidity for growing decentralized exchanges (DEX), such as Uniswap. Bitcoins current market cap is five times larger than the second largest cryptocurrency, ether (ETH), according to The CoinDesk 20. That money can be put to use making more money.

Tokenized bitcoin allows investors to bring large amounts of value over to the Ethereum network and its young DEX market in a few clicks.

DeFi is considered vastly immature when compared to traditional or centralized exchange (CEX) markets. This can be seen in the large price spreads between orders on exchange books between different DeFi markets.

Price differences on markets can be exploited by traders in what is called arbitrage opportunities.

Wrapped bitcoin is often the asset of choice for investors seeking arbitrage. Bitcoin packs a large punch in terms of price value. More money on DeFi trading platforms makes the markets themselves stronger as additional buying and selling options are presented.

But tokenizing bitcoin isnt without risks, particularly software risk. Investors who want exposure to bitcoins liquidity pay higher interest rates to cover the risk of losing an asset in addition to getting exposure to the first cryptocurrencies liquidity.

How this works in practice has taken on a few different forms.

Security of bitcoin investments

Different tokenizing models represent different security assumptions for investor funds.

For tokenized bitcoin, security boils down to the type of custodianship and if the investment is collateralized. Three major models exist: a centralized firm like BitGo; a smart contract system with collateral, such as tBTC; or a complete, synthetic-asset backing employed by sBTC.

Tokenized bitcoin by issuer (Dune Analytics)

BitGos Wrapped Bitcoin (WBTC) is the breakout star of the last few months with some $808.5 million in circulation, according to Etherscan.

Its centralized, meaning deposited bitcoin is held by BitGo. Parties wanting WBTC give BTC to BitGo and then receive an ERC-20 token-equivalent of BTC in return. That ERC-20 can then be sold on secondary markets or plugged into a DeFi application to earn yield.

Keep Networks tBTC, which launched Tuesday, is similar to WBTC but replaces the centralized BitGo model with a network of nodes, wallets and smart contracts. This network aims at bringing more decentralization to BitGos process by allowing both parties the bitcoin depositor and custodian to interact trustlessly through software.

A few features make this possible, such as the bitcoin depositors being able to choose who holds their bitcoin and a 150% security bond (held in ETH) pledged by the custodians on the off-chance they run to the hills with the deposits.

Rens rBTC that makes up about 20% of all wrapped bitcoin in the wild, according to Dune Analytics. It works in a similar manner to tBTCs node network by having the Ren Virtual Machine, RenVM, act as a trustless agent between the Bitcoin and Ethereum blockchains.

Lastly, sBTC is an ERC-20 version of bitcoin. But this time its backed by another token, the Synthetix Network Token (SNX). Each sBTC is not backed by BTC, but 800% of a BTCs value in SNX, the token for minting synthetic assets (Syns) on the Synthetix DEX.

An example of how wrapped bitcoin works

Take a recent transaction from Alameda Research (sister firm of the trading platform FTX).

FTX allows users to swap between BTC and WBTC. When users swap bitcoin for wrapped bitcoin, FTX pulls from Alamedas pool of BTC/WBTC. Users may send BTC to FTX (Alameda) and receive WBTC. When Alamedas pool of WBTC is exhausted, they replenish it directly with BitGo.

Alameda is a merchant and part of the WBTC decentralized autonomous organization (DAO), meaning it can initiate mints for new WBTC using BTC. They send BTC to BitGo and create a minting request on the Ethereum chain as a merchant.

BitGo validates the BTC has been deposited to a preminted address and approves a mint of the number of WBTC equal to Alamedas request. The WBTC can then be used on FTX or swapped with another token atomically (meaning via a peer-to-peer exchange) or even within a DeFi market.

To redeem, the process is reversed: The buyer will send the WBTC back to the merchant who will then provably burn the tokens.

The future of tokenized assets

The wild success of BitGos WBTC and WETH (wrapped ether) may lead to more constructions of other coin holdings. Ben Chan, CTO at WBTC co-creator BitGo, told Coindesk in August that the firm was looking at wrapping other cryptocurrencies.

WBTCs 2020 success has largely been thanks to DeFi, he said.

What weve seen this year is that WBTC traction has been largely thanks to the highly composable DeFi industry, Chan said.

Zack Voell contributed reporting.

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Tokenized Bitcoin on Ethereum Now Tops $1.1 B: Here's Why - CoinDesk - Coindesk

3 reasons why traders turned bullish after Bitcoin price surged to $10.7K – Cointelegraph

Today the price of Bitcoin (BTC) abruptly rose by 6% from $10,136 to as high as $10,743.

After this powerful 24-hour rally, analysts are now turning cautiously bullish for various reasons but will Bitcoin price be able to tackle the $11K mark any time soon?

Cryptocurrency daily market performance snapshot. Source: Coin360

Currently, the factors that appear to be lifting investor sentiment are negative funding rates, BTC whale activity, and the U.S. dollars recent weakness.

BTC/USD daily chart. Source: TradingView.com

At the moment, Bitcoins funding rate across various futures exchanges is either neutral or negative, despite the price hovering above $10,000.

Bitcoin futures exchanges utilize funding to ensure there is balance in the market and it disincentivizes the majority of the market to prevent the market from swaying to one side for a prolonged period.

If long contracts, or traders betting on a Bitcoin price increase represent the overwhelming majority, they will need to pay short contract holders. The opposite applies if short contract holders dominate the market.

When the funding rate turns negative, it means the majority of the market is shorting BTC. Typically, when funding rates remain below zero, it causes a short squeeze and a surge in BTC price. It can also be an indication that the short bet is overcrowded, raising the likelihood of an upsurge.

A popular pseudonymous trader known as DonAlt tweeted that it is weird to see sentiment bearish with negative funding rates. He said:

It's very, very weird seeing sentiment be this bearish, with neutral or negative funding above $10K. Don't think I can remember a time where that has happened before.

The trader also noted that he sees an absorption of selling pressure at $10,000. He added:

Now I'm seeing absorption at $10K, it looks like the only people selling are people on derivatives and I've closed my shorts to see how the next week is going to play out.

The overcrowded Bitcoin market with short contracts coincides with some top whales possibly moving their holdings off exchange.

According to Whalemap, a group of on-chain analysts who track crypto whale activity, top buyers moved their BTC on Sept. 23.

A map of unspent HODLer Bitcoin. Source: Whalemap

The analysts said top buyers moving their funds have typically been a bullish catalyst for BTC. They explained:

Top buyers were moving their coins yesterday. From my personal experience looking at this metric, next day after top buyers move, we go up.

As the number of COVID-19 cases surges in the U.S., lawmakers are locked in a stalemate over the future of a much needed stimulus package and this is leading strategists to speculate on a weakening U.S. dollar.

Before the initial rally, Michael van de Poppe, a full-time trader at the Amsterdam Stock Exchange, said $10,700 to $10,800 is likely for Bitcoin.

The trader emphasized that if the dollar slows down, the $11,200 to $11,400 range could be a reasonable target. He wrote:

Nice, we're holding here. Looks ready to test the $10,700-10,800 areas and maybe even $11,200-11,400 if the dollar slows down for a bit.

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3 reasons why traders turned bullish after Bitcoin price surged to $10.7K - Cointelegraph

BitGo Is Bringing DeFi-Friendly Wrapped Bitcoin to the Tron Blockchain – CoinDesk – Coindesk

Tron, the blockchain launched in 2017 by former Ripple devotee Justin Sun, has entered a strategic alliance with custody specialists BitGo.

The partnership will bring BitGos wrapped bitcoin (WBTC) into the Tron ecosystem as a TRC-20 token. (The token is backed roughly 1:1 by bitcoin deposited by users at BitGo Trust, a qualified custodian in the U.S.)

The introduction of WBTC plus a newly-created wrapped ether token from BitGo is meant to help fuel the incipient decentralized finance (DeFi) ecosystem on Tron. WBTC has been a key driver in the growth of DeFi on Ethereum. (Note: BitGo has nothing to do with the existing wrapped ether (WETH) token used widely in Ethereum DeFi applications.)

Everyone may now use their BTC/ETH to enjoy all the benefits of the Tron DeFi ecosystem without the high gas fees on Ethereum, Sun said in a statement.

Sun also pointed to a service similar to Uniswap on Tron called JustSwap, which he said has achieved $100 million 24-hour volumes since it was launched about a month ago.

BitGo CEO Mike Belshe said WBTC has seen tremendous growth in concert with DeFis boom.

Our new strategic alliance with Tron creates even greater opportunities for users to expand to other chains and tokenize their BTC on the Tron dApp ecosystem while transacting at a lower cost and faster speed, Belshe said in a statement.

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BitGo Is Bringing DeFi-Friendly Wrapped Bitcoin to the Tron Blockchain - CoinDesk - Coindesk

First Mover: Bitcoins Hit Exchanges as Bloomberg Touts Crypto and DeFi Hedge Fund Seeks $50M – CoinDesk

The upcoming U.S. presidential election has become one of the most contentious in history, fraught with searing divisions over everything from the economy to race to the continued health of democracy itself.

So its not surprising that Wall Street options traders are now pricing in expectations ofelevated market volatilityaround the November election. Analysts for the investment banking giant Goldman Sachsnoted earlier this monththat price swings of nearly 3% are implied around election day in the Standard & Poors 500 Index of U.S. stocks.

Whats surprising is that options trading on notoriously volatile bitcoin prices, which often trade in sync with stocks, implies a stretch of uncanny calm come November, CoinDesks Omkar Godbolereported Tuesday.

Godbole writes that ample technical factors might explain the discrepancy, from the influence of certain hedging strategies to the reality that the nascent bitcoin-options market is still quite small in relative terms, with most action concentrated in front-month contracts that expire in September.

Another possibility, according to Godbole, is that bitcoin, as a globally traded asset, might actually be less susceptible to the U.S. outcome, even though the cryptocurrency is priced in dollars. The implication could be that bitcoin decouples at that point from the U.S. market.

The U.S. elections will have relatively less impact on bitcoin compared to the U.S. equities, Richard Rosenblum, head of trading at the digital-asset firm GSR, told Godbole.

Bitcoin's expected volatility over the next few months, as implied by the options market, has been falling.

Crypto investment firm Panxora seeks $50M for new hedge fund to buy DeFi tokens

Theres been a months-long string ofastonishing developmentsandridiculous twistsin the fast growing arena of decentralized finance, or DeFi. Digital tokens with names like YAM andSUSHIhave appeared overnight, exploding in value, dominating crypto headlines and sparking serious conversations about the far-reaching potential of digital-asset markets and financial technologies.

With total collateral locked into automated, blockchain-based DeFi trading and lending platforms surging more than 20-fold this year to $13 billion as of last week, big centralized cryptocurrency exchanges like Binance, Coinbase and OKEx haverushed to list the tokensand roll out DeFi offerings to avoid missing out.

Now, one cryptocurrency money manager, Panxora, seeks toraise up to$50 million for a new hedge fundto buy digital tokens associated with the fast-growing decentralized finance (DeFi) sector.

This has got the potential to really change the way finance is carried out, Panxora CEO Gavin Smith said in an interview.

In an ironic twist, Panxoras announcement comes just as the DeFi market appears to be cooling. Just in the past week, total collateral in the systems has declined to about $9.5 billion, according to data trackerDeFi Pulse.Aave, a decentralized lender, saw its LEND tokens fall by 12% during the seven days through Tuesday, according to Messari, a cryptocurrency data firm.

Smith suggests that a correction was bound to come at some point.We expect the market to be volatile in the early years, Smith said. While there is great potential there will inevitably be setbacks along the way.

Bitcoin Watch

Change in BTC held on exchanges.

Key bitcoin (BTC) on-chain metrics have flipped bearish this week, suggesting the top cryptocurrency by market value may remain under pressure in the short-term.

On Tuesday, the net inflow of bitcoin to exchanges (measured by the total change in exchange balances) was 36,800 BTC the biggest single-day rise since the markets crash on March 13, according to data source Chainalysis.

Since Sept. 20, the net daily inflow of bitcoins to exchanges have been increasing and trade intensity has been declining, Philip Gradwell, an economist at Chainalysis, told CoinDesk.

The data point indicates a weakening market, he said.

Token Watch

Ether (ETH):Ether in parked in smart contracts rises tofour-year high.

Wrapped Bitcoin (WBTC), Rens rBTC (RBTC):Supply of tokenized bitcoin on Ethereumpasses $1.1B.

TBTC (TBTC):Thesis-built protocol relaunches after bitcoin-on-Ethereum projectsuffered smart-contract bug in May.

Aavegotchi (GHST):Aave-themed game revolving around value-staked NFTs serves asmeta trip through DeFi ecosystem, Delphi Digital says.

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First Mover: Bitcoins Hit Exchanges as Bloomberg Touts Crypto and DeFi Hedge Fund Seeks $50M - CoinDesk

Keiser Insists ‘Bitcoin Inversely Correlated To USD Not Stock Markets’ After Crypto Market Tumble | Markets and Prices – Bitcoin News

Reports that global banking giants helped criminals launder money for close to two decades helped spark the crash of global stock markets on Monday, September 21. Also tumbling in tandem with stocks were cryptocurrencies thus leading to renewed concerns that digital assets are intertwined with the global financial system. However, these concerns are dismissed by Max Keiser, a bitcoin pioneer and a Wall Street analyst who insists that bitcoin behaves differently.

Keisers latest comments about bitcoin were prompted by remarks made by one Twitter user who questions the commonly held view that cryptocurrencies are immune from the global financial system. In a tweet, the user expresses concern that each time when stock markets go down bitcoin gets pummeled. The user insists that if bitcoin is ever going to be successful it needs to break away from bankings thumb. Until then.

In his response, Keiser argues that bitcoin, like gold, is inversely correlated to the $USD *not* the stock market. In a warning to bitcoiners, Keiser says dont be fooled by randomness.

Just like Keiser, many bitcoin supporters are adamant that the top cryptocurrency follows a different path to that of company stocks. They point to the movement of the crypto shortly after crashing by 40% on March 12, the so-called black Thursday. At the time of the crash, global markets were also in the red yet it is bitcoin which appears to have recovered and grown at a much faster pace than stocks.

To illustrate, an observation of data available on Markets.bitcoin.com shows that bitcoin nearly doubled in value between March and September 2020. Specifically, on March 21, bitcoin, which dominates the crypto market, traded at $5,792. Yet by end of day on September 21, the leading digital asset traded at $10,499.

In comparison, the Dow Jones Industrial Average, the widely-watched benchmark index in the U.S. for blue-chip stocks, closed March 20 at 19,173 points. However, exactly six months later, the index closed the day on September 21 at 27,147 points, representing growth of 41.5% from March.

It is seemingly this data that convinces some bitcoiners that the cryptocurrency has an inverse relationship with fiat currencies like the USD.

What do you think of Keisers assertions about bitcoins relationship with the USD? Tell us what you think in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Stacy Herbert / CC BY 2.0

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Keiser Insists 'Bitcoin Inversely Correlated To USD Not Stock Markets' After Crypto Market Tumble | Markets and Prices - Bitcoin News

Profit taking Bitcoin miners wont stop the next bull run: On-chain analyst – Cointelegraph

Historical data shows that some miners began to sell Bitcoin (BTC) at the end of July, leading to increased selling pressure in the cryptocurrency market.

Eventually, the dominant cryptocurrency fell steeply from mid-August, recording a 13% fall and since then BTC has struggled to retake the $12K mark.

Bitcoin selling by miners from 2017-2020. Source: CryptoQuant

According to CryptoQuant CEO Ki Young Ju, continued selling by miners might not be enough to prevent a bull run. On-chain data analysis firms closely observe the movements of miners and whales because they hold significant amounts of BTC.

Willy Woo, an on-chain analyst, explained that miners represent one of the two external sources of selling pressure for Bitcoin. He previously said:

Theres only two unmatched sell pressures on the market. (1) Miners who dilute the supply and sell onto the market, this is the hidden tax via monetary inflation. And (2) the exchanges who tax the traders and sell onto the market.

When miners start selling their Bitcoin holdings, typically to cover expenses, it could trigger a correction in the cryptocurrency market.

For instance, From Aug. 17 to Sept. 5, the price of Bitcoin dropped from $12,486 to $9,813. During that time, several whales sold Bitcoin right at $12,000 and the same behaviour was observed amongst miners.

The selling pressure coming from miners and whales noticeably has been attributed to the current crypto market slump but in the longer term, Ki explained it is not enough to stop a prolonged bull run.

If miners abruptly sell a significant amount of BTC, it could cause a severe correction as a small price movement could trigger liquidations from heavily-leveraged traders. Hence, even a relatively small sell-off by miners could theoretically cause massive price swings.

Ki says the intensity of the sell-off from miners was not strong enough to halt future bull runs. He said:

Miner Update: Some miners began selling at the end of July, but I think in the long-run, miners didn't sell BTC large enough to stop the next bull-run.

According to ByteTree, the net inventory of Bitcoin miners declined by 125 BTC per week in the last 12 weeks. The data indicates that miners sold approximately $1.362 million BTC per week week atop the BTC that they mined and sold.

Amount of BTC mined and sold in the last 12 weeks. Source: ByteTree

As Ki emphasized, the data shows that miners sold substantial amounts of BTC, but not in amounts that were irregular to normal behaviour.

Bitcoin is still hovering above the critical $10,000 technical support level despite multiple attempts by bears to drop the price below the key level.

The resilience of Bitcoin amidst a heightened level of selling pressure suggests a cautiously bullish trend in the long term.

The Bitcoin short-term holder NUPL. Source: Glassnode

Several on-chain metrics also indicate that now is a healthy accumulation phase for Bitcoin. Rafael Schultze-Kraft, the CTO at Glassnode, said:

Short-Term Holder Net Unrealized Profit/Loss (STH-NUPL) with a #bullish signal here imo. That bounce of the 0-line was important, is very characteristic for previous bull markets, and historically a good buying opportunity.

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Profit taking Bitcoin miners wont stop the next bull run: On-chain analyst - Cointelegraph

Christies to sell its first non-fungible-token as part of epic Bitcoin artwork – Cointelegraph

Christies is set to sell its first nonfungible token in an upcoming auction of what has been characterized as the largest artwork in the history of Bitcoin (BTC).

Art historian turned blockchain artist Benjamin Gentilli, as part of the Robert Alice art collective, has created "Portrait of a Mind" a monumental series of 40 paintings stretching over 50 meters in length.

Drawing on the history of 20th century conceptualism as well as the founding myth of Bitcoins creation, "Portrait of a Mind" is a complete hand-painted transcription of the 12.3 million digits of the code that launched the cryptocurrency.

By scattering the codebase into 40 globally distributed fragments, the project will draw up a global network of 40 collectors where no one individual will hold all the code, Gentillisaid. He explained:

In each work, an algorithm has found a set of hex digits that together are highlighted in gold. These read a set of coordinates that are unique to each painting. 40 locations across 40 paintings - each location is of particular significance to the history of Bitcoin.

Speaking to Cointelegraph, Gentillisaid he remains curious as to why much of the commemoration of Bitcoin emphasizes the publication of the whitepaper over and above the codebase itself, which, for him, is the real historical document.

Christies will sell one painting from the series, Block 21 (42.36433 N, -71.26189 E), as part of its Post-War and Contemporary Day Auction on Oct. 7, at the end of a week-long exhibition of auctioned works in New York.

The piece includes a unique fungible token as an integral part of the work and will be offered at an estimated price of $1218,000.

Early collectors of paintings from "Portrait of a Mind" include Binance founder Changpeng Zhao and Bloq chairman Matthew Rozsak. Gentillihas said that by showcasing and selling an NFT at Christies, he hoped to spur other contemporary artists to take a look at the NFT space.

Aside from the creative inspiration artists can draw from cryptocurrencies complex cultural, technical and politically dynamic history, NFTs can also give artists more control and a better stake in their practice over the long term, he said.

Just last week, Cointelegraph reported on the auction of a digital art piece based upon Bitcoin's fluctuating price action, which sold for over $100,000. Like Portrait of a Mind, the artwork integrated an NFT to vest its collector with tokenized ownership rights.

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Christies to sell its first non-fungible-token as part of epic Bitcoin artwork - Cointelegraph

The Winklevosses have launched their bitcoin exchange in the UK – Wired.co.uk

Gemini, one of the worlds largest cryptocurrency exchanges, has launched in the UK and plans to cash in on the boom in lockdown bitcoin investments. Plans to grow the companys operations have moved forward despite the exit of European head Julian Sawyer, who joined the company from his role as co-founder of Starling Bank in December 2019.

The New York-headquartered exchange was founded by the Winklevoss twins, best-known for their legal dispute with Facebook founder Mark Zuckerberg that was dramatised in the film The Social Network. Tyler and Cameron Winklevoss invested part of their $65 million Facebook settlement into bitcoin (at one point they owned one per cent of the currency), and when its value rose sharply in 2017 they became billionaires.

The exchange has already filed for a licence to operate in Ireland, which will be used as backup if Brexit does not allow it to operate in Europe. The twins have also touted setting up an engineering outpost in the UK.

Geminis UK launch comes as bitcoins rate fluctuates at around $10,000, half of what it was at its height in 2017. The currency was buoyed by investors during the pandemic this summer, reaching above $12,000 in August and trebling in value since March. However, Tyler Winklevoss claims that the interest in crypto is higher than ever. The pandemic caused dyed in the wool Wall Streeters that would be the greatest sceptics you could imagine of bitcoin and cryptocurrency to take a position in bitcoin because they're really worried about the prospects of what the money printing means for the US dollar, he says.

He argues that the idea of earning interest on your money at your bank is no longer possible, and may not be for many years. Bitcoin has a fixed supply, it's very much like gold, but actually, we believe it's gold 2.0 and it provides an opportunity to hedge itself against oncoming inflation, he explains. Tyler Winklevoss has previously predicted that bitcoin could overtake gold as the worlds largest safe-haven asset.

The idea that bitcoin was completely uncorrelated with the rest of the market and could potentially act as a safe haven during times of economic turmoil gained popularity in 2019. But experts have questioned this approach, claiming that bitcoin is a hedge against inflation and loss of confidence in fiat currencies (such as the pound, the dollar or the Euro), not a hedge against a typical recession.

But Winklevoss believes that peoples interest in investing in cryptocurrency, which was buoyed by individuals during the pandemic, will continue. This is far from a flash in the pan, there's been a lot of staying power for bitcoin, he says. You're comparing a zero negative interest rate, basically a completely stagnant situation on one hand, to a gold rush on the other hand. That's not hypothetical, it's actually happening right now.

Geminis ambitions have been hampered by regulators skepticism that the market for the cryptocurrency is sufficiently free of abuse to bring trading to the masses. In 2018, bitcoin fell after the Securities and Exchange Commission rejected Gemini's request to list an exchange traded fund, saying that it was not convinced that the currency has adequate surveillance to protect it against market manipulation. Another crypto trader, Wilshire Phoenix, was rejected on the same grounds earlier this year.

In the UK, it was the second cryptocurrency exchange to be added to the Financial Conduct Authoritys register, a requirement of new anti-money laundering measures to better control the activity in the sector. It has been granted an Electronic Money Institution license by the FCA, allowing it to offer cryptocurrency exchanges and custody services to individuals and institutions.

Gemini has made a string of high-profile hires over the past 18 months to expand its exchange and custody business, however, bringing in executives from the New York Stock Exchange and the International Securities Exchange.

Sawyer had been hired to spearhead the companys efforts to expand outside America. Following his exit, Geminis European expansion is now being led by head of international business Michael Breu, and chief compliance officer for Europe Blair Halliday, alongside management from the US.

Natasha Bernal is WIRED's business editor. She tweets from @TashaBernal

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The Winklevosses have launched their bitcoin exchange in the UK - Wired.co.uk

Bitcoin-related ads are now streaming on Disney+ in some regions thanks to Zebpay – Cointelegraph

Crypto exchange Zebpay has launched a campaign with ads featuring Bitcoin during the Indian Premier League cricket games.

As reported by Twitter user Mohit Rai Sharma, ads for Zebpay appeared on Indian streaming platform Disney+ Hotstar during a series of cricket matches starting Sept. 19. Learn about simple, secure Bitcoin, the ads stated, directing viewers to pay just over $1 to start using the exchange.

Sharma stated that the ads represented a historic moment for crypto in India. More than 462 million people watched the Indian Premier League games in 2019, with roughly 300 million tuning in using the Hotstar platform.

Zebpay reopened in the country in January, shortly before the Reserve Bank of India lifted a two-year ban that had prevented financial institutions from providing banking services to crypto firms. The exchanges current campaign follows a Sept. 15 report from Bloomberg stating the Indian federal cabinet is now considering legislative action to once again ban crypto.

According to a Sept. 22 report from the Press Trust of India, the countrys parliament originally scheduled to be in session until Oct. 1 will likely adjourn eight days early, on Sept. 23. This is apparently due to several members testing positive for COVID-19. India recently passed Brazil to become the country with the second-highest number of coronavirus cases; roughly 5.6 million as of press time.

Tanvi Ratna, CEO of blockchain advisory firm Policy 4.0, stated that no crypto ban legislation has appeared in the list of bills to address while the government body is in session.

The exchange has continued expanding in the face of regulatory uncertainty. In May, Zebpay announced it had commissioned blockchain forensics firm Chainalysis to monitor transactions executed across its platforms in India.

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Bitcoin-related ads are now streaming on Disney+ in some regions thanks to Zebpay - Cointelegraph

Cryptocurrency ETF by Nasdaq and Hashdex Approved to List on Bermuda Stock Exchange | Regulation – Bitcoin News

A cryptocurrency exchange-traded fund (ETF) by Nasdaq and Brazilian fund manager Hashdex has reportedly been approved to trade on the Bermuda Stock Exchange. Hashdex says the new cryptocurrency investment product tracks the Nasdaq Crypto Index.

Brazilian fund manager Hashdex confirmed to news.Bitcoin.com on Tuesday that the company is launching a cryptocurrency ETF, co-developed with Nasdaq. A Hashdex spokesperson said that the ETF has been approved by the Bermuda Stock Exchange (BSX), elaborating:

The ETF will be available for public trading on BSX once the Nasdaq Crypto Index [NCI] is officially launched.

As for the launch date, We cant confirm any dates at this moment. However, it shouldnt take long. We need the NCI launch first, the spokesperson emphasized, adding that Nasdaq will reveal more details about the index methodology once it is launched as well. At press time, little information has been revealed about this new investment product.

The BSX exchange also independently announced Friday the admission of Hashdex Nasdaq Crypto Index ETF Class E Shares to its official listing. The method of listing, however, is private placement, with Hashdex Nasdaq Crypto Index ETF as the issuer.

According to its listing page on the BSX website, Hashdex Nasdaq Crypto Index ETFs investment objective is to provide investment results that minimize the tracking difference of the performance of the Nasdaq Crypto Index on a 12-month window. The index is being co-developed by Hashdex and Nasdaq Inc. The latter will administer and maintain the index on an ongoing basis.

The spokesperson further clarified to news.Bitcoin.com that the upcoming ETF will not be available to American investors, therefore it does not require the approval of the U.S. Securities and Exchange Commission (SEC). Currently, the U.S. SEC has not approved any bitcoin or cryptocurrency ETF. All proposed rule changes to list and trade bitcoin ETFs have been rejected so far. There are, however, several private investment products, such as Grayscale Investments GBTC.

According to its website, the Bermuda Stock Exchange, founded in 1971, is recognized by the U.S. SEC as a Designated Offshore Securities Market under Regulation S; The Financial Services Authority in the U.K. as a Designated Investment Exchange; HM Revenue & Customs in the U.K. as a Recognized Stock Exchange; The Bermuda Monetary Authority as a Recognised Investment Exchange; and as an Approved Stock Exchange under Australias Foreign Investment Funds taxation rules.

What do you think about this crypto investment product? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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

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Cryptocurrency ETF by Nasdaq and Hashdex Approved to List on Bermuda Stock Exchange | Regulation - Bitcoin News

XSwap Started Yield Farming, The Highest APY Reaches 70,000% | Press release – Bitcoin News

XSwap, a main products of Xfinance ecosystem, has launched Uniswap LP token liquidity mining. This is a fair version, 100% distributed to the community, with No team shares, No Pre-mine. Governed by the Xfinance community.

In just a few hours, the funds in the pool are above to 5000ETH. The highest APY reaches 70,000%!

XSwap dapp link: https://xswap.app

How to participate in XSwap Uniswap liquidity mining?

Choose your favorite pair and add liquidity on Uniswap, then approve and deposit UNI-LP token on XSwap.

In the first 100,000 blocks, each block will provide 10,000 XSP rewards, after 100,000 blocks, each block will be reduced to 1,000 XSP rewards.

The maximum supply of XSP is 3,000,000,000 XSP.

Reward ratio of each pool:

XSP-ETH: 40x; XFI-XSP: 12x;

XFI-ETH: 12x; XFI-LID: 7x;

UNI-ETH: 3x; LID-ETH 3x;

Others: 1x;

XSP token contract address

0x9b06D48E0529ecF05905fF52DD426ebEc0EA3011

Buy XFI:

https://uniswap.info/token/0x5befbb272290dd5b8521d4a938f6c4757742c430

Buy XSP:

https://uniswap.info/token/0x9b06d48e0529ecf05905ff52dd426ebec0ea3011

What are the XSwap development goals?

XSwap will become the most important product in the Xfinance ecosystem, that is, decentralized automatic market-making leveraged exchange. XSwap Staker will receive a 0.05% transaction fee, the liquidity provider will receive a 0.20% transaction fee, and the 0.05% transaction fee will be used to buy back and burn XSP.

XFI will become the governance token in the Xfinance ecosystem and will also have deflationary characteristics. The better the Xfinance ecosystem develops, the greater the value of XFI.

Xfinance community

Twitter: https://twitter.com/xfinance_io

Telegram: https://t.me/nowex_io

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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

Original post:

XSwap Started Yield Farming, The Highest APY Reaches 70,000% | Press release - Bitcoin News

Caldern says he didn’t say the war on drugs can’t be won – Somag News

Felipe Caldern, former president of Mexico, clarified that he never said, nor has he argued that the war against drug trafficking was impossible to win. The foregoing, after a publication by Vice News, where it was assured that Caldern had made such an affirmation to the then British Deputy Prime Minister, Nick Clegg, apparently on a visit by him to Mexico City in March 2011.

I just dont even agree on the terms and concepts behind such a statement. That said, I have always made reference to a comprehensive security strategy with three elements: the decision to confront criminal organizations, the construction of reliable and effective security and justice institutions, as well as the reconstruction of the social fabric, Caldern said in a letter.

Although I have spoken out for contemplating alternatives to the punitive approach, I have not openly proposed legalization because I am not sure about it. It is necessary to act responsibly, which is why, first, studies must be carried out on its social and economic consequences, some of which can be disastrous for societies.

Let us remember that during Felipe Calderns six-year term, a strategy against organized crime was launched, which included the Army, known as the war against drug trafficking, and that it has been criticized for the number of deaths and disappearances it caused .

The clarification of Caldern, who ruled Mexico from 2006 to 2012, comes after Nick Clegg allegedly revealed fragments of his talk with the former president and accused how he accepted that the war would never be won unless progress was made towards a regulation of drugs in the world.

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Caldern says he didn't say the war on drugs can't be won - Somag News

Exclusive: President Behind Mexicos War on Drugs Admitted It Was Unwinnable – VICE

Forensic personnel work in the exhumation of human remains found in Guerrero state, Mexico in January 2019. Photo: Getty Images / PEDRO PARDO / AFP

At the height of Mexicos deadly war on drug cartels, its chief architect privately admitted it was unwinnable and that legalising drugs was the only way out, VICE News has learned.

That architect is Felipe Caldern, Mexicos former president. Caldern was unrepentant in his final state of the union address in 2012, proclaiming that Mexico had started along the path toward a life full of liberty and security. Caldern has staunchly defended the militarised war on drugs, also saying in 2018 that he had no regrets.

But in private comments to then Deputy British Prime Minister Nick Clegg in 2011 which have gone unreported until now he appeared to contradict his outward stance.

Caldern had made his whole name in Mexican politics as 'I'm going to win the war on drugs', Clegg, now Facebooks top PR official and also a representative for the Global Commission for Drug Policy, told VICE News.

He said to me, 'Do you think there will ever be the regulated sale of drugs in Britain or America? Because I've come to the view' and I remember he said it with such pathos 'That we've spent years trying to wage this war on drugs that it is unwinnable. You will never win unless you can squeeze out criminality by moving towards the regulation of drugs'.

Calderns apparent acknowledgement of the futility of the war on drugs even while he was waging it full throttle will raise serious questions over the moral legitimacy of the militarised campaign in Mexico, which has given rise to the most violent period in the country's history.

As soon as he took power, he dispatched the military throughout the country to attack cartels a policy that led to spiralling deaths and seemingly scant benefits with an estimated 275,000 people killed since 2007.

More than 73,000 people remain missing and feared dead since the declaration of the war on drugs, with 39,000 unidentified bodies in the countrys morgues.

In a statement issued this week to VICE News, Caldern did not deny the conversation had taken place but claimed he never said the war on drugs was unwinnable. He said he had long raised the possibility of legalisation as a solution to issues around drug-related violence, but was never convinced of its merits.

Mexicos current President Andrs Manuel Lpez Obrador (AMLO) has pulled back on Calderns all-out war on the cartels, which had continued under his successor Enrique Pea Nieto. Yet the cartels have only grown in strength, and violent killings have reached record levels. More than 31,000 people were murdered last year.

Despite declarations from AMLO that the war on drugs is over, Mexicos security forces are continuing to go after drug trafficking bosses.

Clegg, who lobbied for a more liberal UK drug policy while in government, said his conversation with Caldern on the morning of the 29th of March 2011 in Mexico City convinced him that legalising drugs is the only sensible response to growing global demand.

British Deputy Prime Minister Nick Clegg talks with Mexican President Felipe Calderon before a press conference in Mexico City in March 2011. Photo: Getty Images / Alfredo Estrella / AFP

[It] made a huge impression on me, said Clegg. It really hit me between the eyes. There was someone who had really lived the war on drugs, and was really reduced to a view that this was just never ever ever going to be won.

However, in the press conference following the pairs meeting, the former Liberal Democrat MP said he admired Caldern and hailed the bravery that [he and his] government have shown in fighting against organised crime and drug trafficking.

Caldern told VICE News that alternatives to prohibition including regulation or market-driven solutions should not be discounted as methods to end the violence around the production, distribution, and consumption of drugs.

Although I have said that we should contemplate alternatives to penal and legal solutions, I haven't proposed legalisation openly because I'm not sure about it, he said. It's necessary to act responsibly, which means that there should be studies beforehand, around the social and economic consequences, some of which could be disastrous for societies.

In 2018, Caldern told VICE News that he first deployed the army in 2006 after a request from a state governor who said he had lost control.

We got very good results at the beginning, he said, adding: Honestly, I think nobody expected that the violence could reach those levels. However, I insist, I'm absolutely clear that violence started because of the fight to control territory between the organised crime groups, between the cartels, not because of the action of the government.

Questioned about how Mexican military action led the narco gangs to fragment without appearing to impact the overall ability of criminals to traffic drugs, Caldern said in 2018: Of course there will be some rearrangements or instability or whatever, but the end of the game is exactly when you take over completely or recover completely the control for the citizens.

He also blamed Americas gun laws: The US government, Congress, and society honestly did not do anything to stop the flow of money, to stop the flow of weapons. Actually, the paradox is we seize like 106,000 guns and weapons, and 90 percent of them were sold legally in the US.

In 2009, following Calderons own proposals, new laws to decriminalise personal possession of small quantities of some drugs were passed suggesting he accepted the inevitability of drug use after previous plans were scrapped due to US opposition.

In 2016, a special session of the United Nations was convened after a joint request in 2012 from Caldern's Mexico, as well as heads of state in Guatemala and Colombia whose then president Juan Manuel Santos led the efforts to discuss radically overhauling the UN's prohibitionist approach to drugs. However, the session left reformers disappointed, as no significant changes to the global drug control regime were passed.

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Exclusive: President Behind Mexicos War on Drugs Admitted It Was Unwinnable - VICE

The war on drugs complicity in the death of Breonna Drug WarRant – Drug WarRant

Jacob Sullum does a great job of detailing the horrendous state of our criminal justice system that essentially encourages fatal confrontations.

The Legal Response to Breonna Taylors Death Shows How Drug Prohibition Transforms Murder Into Self-Defense

State prosecutors concluded that the two other officers were justified in returning fire after Taylors boyfriend, Kenneth Walker, shot one of them in the leg. Yet local prosecutors decided not to pursue an attempted murder charge against Walker.

Those seemingly contradictory decisions reflect Kentuckys standards for self-defense, which make it possible that Walker and the cops were both legally justified in using deadly force. But that puzzling situation also has to be understood in the context of the war on drugs, which frequently involves armed home invasions that invite potentially deadly confusion. That unjustified violence is the root of the problem highlighted by Taylors senseless death and the unsatisfying legal response to it.

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The war on drugs complicity in the death of Breonna Drug WarRant - Drug WarRant

The War on Fire – Stanford Review

Of the great lessons from the last 50 years of U.S. history, we should have learned by now that declaring war against an abstract noun is a terrible idea. Whether in The War on Drugs, The War on Poverty, or The War on Terror, the noun always wins.

So naturally, politicians in California have spent the last century waging another awful policy war: The War on Fire, in which they tried to end the natural cycle of fire in California by putting out fires.

The result? Well, more fire. A lot more.

Fire suppression leads to a buildup in dry fuel on the ground. Without human intervention, wildfire would burn this dry fuel in Californias forests and chaparral biomes. That keeps the ecosystem healthy. Wildfire is as much a part of nature in California as are the Sierra-Nevada mountains or the Pacific Coast. In prehistoric times, millions of acres burned each year.

Today, California burns only a fraction of the land needed to reduce wildfire risk to a tolerable level, sometimes as few as ten-thousand acres per year. The deficit has turned entire swathes of the California wilderness into a ticking time bomb.

This year, the bomb went off. California leaders and national news media have mostly blamed the crisis on climate change, an important issue that politicians are using as a scapegoat.

Hotter and drier conditions around the world, worsening from climate change, are a major problem. If we do nothing, it will mean more -- and worse -- wildfires.

But to claim that a modest temperature increase from climate change is the principal cause of the fires burning today is absolutely wrong.

California is on fire precisely because of its War on Fire. It is a war that ignores science and history, and were all paying the price.

Indigenous peoples were burning the forests of California long before Europeans arrived, to promote ecological diversity and support human habitation. Only in the 20th century did fire fall out of favor in the American West, when coastal Californians began to move into the wilderness.

The movers built wooden houses in forests that would normally be burned in wildfire every few decades. They brought new power and gas lines. They also brought an army of bureaucrats and legislators, ready to suppress any and all fire near their new communities, even as they massively increased fire risk.

The War on Fires bureaucrats wrote burdensome regulations and laws hindering burns on state land. They established air quality boards and onerous approval processes to prevent people from burning on their own land.

The rationale of the war was straightforward and empathetic: fire is bad -- it destroys homes and kills people. To protect property and life is a noble goal, but The War on Fire has completely and predictably failed to stop the fires that actually matter: the big ones. When we extinguish all the small fires which are not destructive, we substantially increase the risk of large fires which are.

Fallen power lines, lightning, and a few gender-reveal parties gone wrong set off massive, deadly, and destructive fires this summer. Due to similar incidents in 2018, California has seen record wildfires multiple years in a row.

So, I suggest that California policymakers carrying the banner of Science ought to listen to some actual science. Heres what we can do to start:

Unfortunately, these scientific solutions have not caught the attention of Gavin Newsom or anybody else with the power to implement them. He and other leaders are far more focused on hand-waving about the climate. Worldwide decarbonization is an excellent goal. But California is on fire right now, and we need serious proposals from policymakers.

Lets check in with Gavin and see what his plan is

Thats right. VOTE.

Hey, Governor Hairgel! California already voted for you!

Gavin Newsom governs California with a Democratic supermajority. He can implement whatever policies he and his party want. They have controlled policymaking in the Golden State for nearly a quarter century, and vote for us again! is the best they can come up with?

They have the scientific studies. They have the recommendations of their own commissions. Their citizens cannot breathe outside. They do nothing.

Its time to wake up and smell the wildfire. A century of policy failure has turned California into an orange hellscape and state leaders cant do anything but blame others. Governor Newsom and the rest of Sacramento ought to stop with the excuses and get to work -- or step aside for people who will!

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The War on Fire - Stanford Review