China is bringing digital currency, alarm bells for the US dollar

China wants to introduce a digital yuan called e-RMB in 2022. People moving to China in 2022 may have to shop or transact in the new digital currency here.

It will be a currency that cannot be seen, nor will it be held in the hand like other notes. This is not a fantasy. At a time when all countries of the world were struggling with the corona virus infection, China was embarking on a pilot project on the digital yuan currency. Last month, China's central bank, the People's Bank of China, launched work on the project in four major cities: Shenzhen, Chengdu, Sunzhou and Jiangxi.

A portion of the government employees' salaries in the project will be paid in digital yuan.

Twenty different private businesses such as McDonald's and Starbucks have also participated in the project. If successful, the Chinese government will be able to issue the digital currency nationwide by the time of the 2022 Winter Olympics.

However, this will be done in a phased manner and may take a few years. In fact, work on the project began in 2014. China is working very hard to implement it. There are three main reasons for this: the growing trade war with the United States, repeated allegations by the United States and the West about the corona virus, and Facebook's plans to launch a digital currency called Libra this year.

Radical change

The advent of the digital yuan is seen as an event that could change the world's current balance. It is part of China's ambitious project to end US influence and emerge as a powerful country in the 21st century. According to experts, its successful use could lead to the emergence of a new political and economic system in 10-15 years.

Dr. Faisal Ahmed, a China expert at the Fer School of Management in New Delhi, India, says, ‘India and the United States are also developing their own digital currencies, Lakshmi and Digital Dollars, respectively. But so far this is far from the reality. '

US dollar versus digital currency

Now the Chinese 'Dragon' has overtaken the Indian 'Lakshmi'. But experts say it also threatens the dollar, the world's biggest money maker. According to experts, the US Federal Reserve's multi-billion dollar debt is overvalued. A new currency is definitely welcome. But its global acceptance will take a long time.

The digital yuan is a big step towards bridging the gap with the US dollar. The US dollar is currently the world's most widely circulated currency, beginning in the early 1970's with the end of the gold standard. According to experts, the growing anti-globalization environment is becoming a threat to the dollar due to the trade war between the US and China and the Corona epidemic. However, this change will take time as there is no immediate alternative.

The current value of the US dollar can also be gauged from the fact that in 2019, the US dollar accounted for about 90 percent of international monetary transactions. By comparison, the Chinese yuan accounts for only 2 percent of global payments and reserves.

On the other hand, the US dollar accounts for 60 percent of the world's foreign exchange reserves. Interestingly, there are even three trillion dollars in US currency in China's coffers. China can use it in various ways, from which it will grow. According to experts, China could also use the currency to provide incentives to other countries for geopolitical benefits and to invest in countries involved in the Belt and Road project from Central Asia to the Arctic.

Due to the influence of the US dollar and its importance, the United States has been able to maintain its dominance in world political and economic affairs. Its sanctions against Iran, Russia, North Korea and some other countries, for example, have been made possible by international trade and banks' reliance on the US dollar.

The German bank released a report in January stating that the Chinese digital currency could upset the world's balance of power.

The report said, ‘China is working on a digital currency with the help of its central bank, which it can use as a soft or hard power tool. If companies doing business in China are forced to use the digital yuan, it could certainly destroy the dollar's dominance in global financial markets. ' Of course, the digital yuan and similar digital currencies cannot completely eliminate notes. But it can also lead to the end of third parties, such as credit cards.

Facebook's Libra Versus China's Digital Yuan

The mainstream digital currencies now include Facebook's Libra and the Chinese government's digital currency, according to a report by the German national bank Deutsche Bank. Facebook has nearly 2.5 billion users, a third of the world's population. Similarly, China has a population of 1.4 billion. So both Facebook and China have the potential to push digital currency into the mainstream.

But the important difference between other digital currencies and the digital yuan is this

The digital yuan will be issued by the Central Bank of China. Due to which it will be accepted and trust will increase.

However, all other digital currencies are decentralized and do not fall under the purview of any regulatory authority.

According to Noah Hariri, a young Israeli historian and thinker, money is a myth that has significance around the world. Anyone who trusts the dollar and values ​​it. But as America's power in the world dwindles, another power will take its place. Now China is far ahead in that race.

BBC

Latest information on Corona-virus

6 million 54 thousand infected worldwide from Corona, 2.562 million more cured (how many in which country)

The global pandemic corona virus (Covid-19) has so far infected 6 million 54 thousand 187 people worldwide. According to Johns Hopkins University, 2.562 million of those infected have recovered.

The most contagious cases have been reported in the United States. As of Sunday morning, 1,769,776 infections had been confirmed in the United States. Similarly, 4 lakh 16 thousand 461 have been cured.

The death toll in the United States is also high. So far, 133,758 people have lost their lives in the United States. Similarly, 500,000 people have been found infected in Brazil. So far, 4,98,440 infected people have been found in Brazil. Of them, 2 lakh 892 have recovered and 28 thousand 834 have died.

After Brazil, Russia has seen many infections. So far, 396,575 people have been found infected in Russia. Of those infected, 4,555 have died and 1,67,469 have been cured. A recent decline in infection rates has so far confirmed 274,219 cases of the virus in the UK. Of them, 1,173 have recovered and 38,458 have lost their lives. Corona, which has been rampant since late December, has so far affected 188 countries. So far, 368,711 lives have been lost in these countries.

Figures for the ten most infected countries

America

Infected: 17,69,776

Deaths: 1,03,758

Healing: 4,16,461

Brazil

Infected: 4,98,440

Deaths: 28,834

Healing: 2,00,892

Russia

Infected: 3,96,575

Deaths: 4,555

Healing: 1,67,469

United Kingdom

Infected: 2,74,219

Deaths: 38,458

Healing: 1,173

Spain

Infected: 2,39,228

Deaths: 27,125

Healing: 1,50,376

Italy

Infected: 2,32,664

Deaths: 33,340

Healing: 1,55,633

France

Infected: 1,88,752

Deaths: 28,774

Healing: 68,386

Germany

Infected: 1,83,189

Deaths: 8,530

Healing: 1,64,908

India

Infected: 1,81,827

Deaths: 5,185

Healing: 86,936

Turkey

Infected: 1,63,103

Deaths: 4,515

Healing: 1,26,984

(Source: Johns Hopkins University)

Corona outbreak: This is the latest epidemic in the world

As of this writing, 371,006 people have died and 6,160,295 have been infected in the world due to the corona virus epidemic, which has become a major challenge for the world in the field of health.

Similarly, 27 lakh 38 thousand 284 people have recovered after health treatment while the health condition of 53 thousand 515 people in the world is critical. Outbreaks of the corona virus, which has spread to 213 countries, have killed 15,557 people in the United States and infected 1,816,820.

There, 5 lakh 35 thousand 238 people have recovered after health treatment and 17 thousand 163 people are in critical condition.

In Brazil, 4,99,966 people have been infected so far and 28,849 people have died. Similarly, 15 people have died and 1,526 new infections have been added today. In Brazil, 25,371 people have recovered after receiving medical treatment, while 8,318 are in critical condition.

In Russia, 4,555 people have died and 3,96,575 have been infected with the corona virus.

There, 1,67,469 people have recovered after health treatment and 2,300 are in critical condition.

In Spain, 27,125 people have died and 2,86,308 have been infected with the corona virus.

There, 196,958 people have recovered after receiving medical treatment while the health condition of 617 people is critical.

In the UK, the corona virus has so far killed 38,376 people and infected 272,826. The health condition of 1,559 people there is critical.

In Italy, 33,340 people have died and 232,664 have been infected with the corona virus. There, 155,633 people have recovered after receiving medical treatment while the health condition of 450 people is critical.

In France, the corona virus has so far killed 28,771 people and infected 188,625. There, 68 thousand 268 people have recovered after health treatment and 1 thousand 325 people are in critical condition.

In Germany, the corona virus has killed 8,600 people and infected 183,294 so far. There, 1,64,900 people have recovered after receiving medical treatment while the health condition of 720 people is critical.

Similarly, 5,185 people have died and 182,143 have been infected with the corona virus in neighboring India so far. There are 316 new infections today. In India, 86,984 people have recovered after receiving medical treatment, while 8,944 are in critical condition.

According to WorldDometer, 4,515 people have died and 1,63,103 have been infected with the corona virus in Turkey. Similarly, 126,984 people have recovered after receiving medical treatment while the health condition of 649 people is critical.

In Peru, 4,371 people have died so far due to the corona virus epidemic

A total of 155,671 people have been infected. There, 66,447 people have recovered after receiving medical treatment while the health condition of 960 people is critical.

In Iran, 7,734 people have died and 148,950 have been infected with the corona virus. There, 116,827 people have recovered after medical treatment and 2,533 people are in critical condition.

In Canada, 7,073 people have died and 90,190 have been infected. There, 48,103 people have recovered after medical treatment and 1,618 people are in critical condition.

In Mexico, the corona virus has so far killed 9,779 people and infected 87,512. There have been 364 deaths so far today and 2,885 new infections have been added today. In Mexico, 61,871 people have recovered and 378 are in critical condition.

Similarly, two more corona infections have been confirmed in China today. There have been 4,634 deaths and 83,001 infections. There, 78,304 people have recovered after health treatment and the health condition of 3 people is critical.

Similarly, 1,483 people have died and 69,496 have been infected in Pakistan so far. Today alone, 88 people have died and 3,039 new infections have been added. There, 25,271 people have recovered after receiving medical treatment while the health condition of 111 people is critical.

In Belgium, 9,453 people have died so far and 58,186 have been infected. There, 15,769 people have recovered after receiving medical treatment while the health condition of 73 people is critical.

In the Netherlands, 5,951 people have died so far and 46,257 have been infected. The health condition of 170 people there is critical.

In the last 24 hours, 500 people have died worldwide and 9,812 new infections have been added.

Get latest information on Corona-virus.

'Drone' conveys corona awareness message

Madhyapur Thimi Municipality of Bhaktapur ward no. The general public has been urged to follow the logging by using drones in one area. By connecting hand mic to the drone, Madhyapur Thimi Municipality ward no. 1 is blown inside.

Madonna Thimi Municipality Ward no. 1 Chairman Suraj Khadka informed. He clarified that drones were used to warn the people when they started coming out of their houses even though the government announced to lock them down.

"People's representatives, volunteers and security personnel cannot go everywhere," said Khadka. "Again, not everyone has access to all information and informative messages." That's why we're using drones to follow the lockdown and miking ways to prevent corona virus infections. ' According to him, the drone, which weighs about eight kilograms with a hand mic, hovers over the houses of the people in one ward of Madhyapur Thimi Napa for about half an hour at a time. He said that the drones have been flying repeatedly in places where they have not reached once.

But the drone was not provided by Madhyapur Thimi Municipality and Ward Office. Ward Chairman Khadka said that the drone was arranged by Pokura Innovations Pvt. Ltd. in Kupandola, Lalitpur. "The entire cost of flying the drone has been borne by Pokura Innovations," he added.

According to him, it is estimated that it will cost around three lakh rupees to fly the drone. A team of engineers Ram Khanal, Sushil Khadka and Sajan Amatya, led by Gokarna Jung Thapa of Pokura Innovations, has been operating the drone. Drones are also a safe technology to prevent them from spreading.

According to him, the drone-carrying hand mic has been broadcasting audio messages including the possible effects of corona, measures to be taken to avoid it, adherence to lockdown and urgent information about the possibility of infection. Apart from much-needed work, people are not allowed to go out during the lockdown. Khadka clarified that the drones were used to control the increase in the number of people going out of their houses and opening shops outside the stipulated time.

Government increasing surveillance on drones

As the use of unmanned aerial vehicles (UAVs) has increased in Nepal, the government is preparing to make policy arrangements to regulate this type of flight called drone.

Although drone flights are currently being managed by Unmanned Aerial Vehicle Flight Procedure 2072, government officials say new arrangements are being made because the "hastily issued" procedure is not sufficient.

Venezuela: 'President Survives Drone Strike'

The option to 'shoot' the drone blocking the airport

According to Home Ministry spokesperson Ram Krishna Subedi, the committee formed to identify the security challenges posed by drone flights in detail and formulate working procedures will complete its work within the next two months.

The committee comprising officials from the Ministry of Information and Communication, Ministry of Culture, Tourism and Civil Aviation, Civil Aviation Authority and various security agencies will prepare working procedures based on the opinions and suggestions of all, said Subedi.

Current system

According to the procedure issued by the Ministry of Home Affairs, in order to fly a personal drone, permission for the frequency has to be obtained from the Ministry of Information and Communication.

The Ministry of Communications has allowed drones to fly at frequencies of 2.4 and 5.8 GHz, said Anup Nepal, Deputy Secretary, Frequency Management Division.

Nepal informed that most of the drones are built on that frequency and the drones on this frequency do not need permission from the Ministry. However, in the case of devices with different frequency connections, permission must be obtained.

It is designed for telephone and airplane communications and is designed to avoid the frequency used by security agencies.After the frequency, permission has to be obtained from the Ministry of Civil Aviation with the consent of the Ministry.The drone can be flown only after fulfilling the flight conditions and getting the consent of the Home Ministry.

Government eye

Although various countries around the world have implemented strict policy rules on drones, government officials acknowledge that the monitoring of drones in Nepal took place only after the catastrophic earthquake of 2072 BS.

After the drones were operated arbitrarily to collect the details of the human and material losses in Nepal after the earthquake, the government had made public the procedure by stopping such flights for the time being.

According to a Home Ministry official, the government's attention was drawn after foreign bodies and media outlets captured pictures and videos of various parts of the country from drones "indiscriminately" in the days following the quake.

Experiment

The use of drones, which became widespread much later than in developed countries, is now being used for a variety of purposes. Officials say the use of drones for surveying, studying, filming, filming music videos and documentaries has increased. Personal marriage and fasting these days the number of applicants for capturing activities on camera is increasing.

"Every day, one or two people come to us to get information about drones," Nepal told the BBC Nepali service.

"Not all people come because other bodies look at drones. In that sense, the number of people coming to get permission to fly drones can be very high."

Although various restrictions have been imposed on flying drones that can capture large and audio-visual images, small-sized entertainment devices have not been tightened.

However, even such small drones cannot be flown in restricted areas.

Many opportunities

According to government officials, drones could be used in various parts of the geographically remote country. He said that the government is positive that services can be provided easily by using technology, especially in places where there is no access to health services. Some young entrepreneurs are using drones to collect blood, urine and sputum samples from people in remote areas and test them in other places, and after the tests, they are discussing with various agencies to send the report and medicine from the drones, officials said.

Robot journalist at Microsoft now!

Microsoft is going to hire an automated robot journalist by removing the journalists working on its MSN website.

At present, Microsoft has hired journalists to collect news from various media outlets, select headlines and pictures and publish them on Microsoft's website. But now Microsoft will use Artificial Intelligence (AI) to select and publish news by removing all contract journalists.

Microsoft said the new experiment was part of an assessment of its business.

"Like all other companies, we regularly evaluate our business," Microsoft said in a statement. This will help in increasing investment in some areas and re-employment of employees. '

Microsoft, like other technology companies, pays various news agencies for the purpose of publishing on its website. But in order for news agencies to decide which news to put on their websites, Microsoft has hired journalists under contract.

With Microsoft's decision to hire the robot as a journalist, at least 50 contract journalists working on the MSN website will be laid off by the end of June. However, the team of full-time journalists will remain the same. On the other hand, contract journalists who are about to be fired have said that it is unethical to think about displacing people from machines. Stating that it would be difficult for robots to adapt to strict editorial guidelines, they claimed that it risked seeing irrelevant news on Microsoft's news site.

A journalist who was about to lose his job at Microsoft said, "I used to spend time reading about how artificial intelligence is grabbing people's jobs. But now it's my turn. '

Remember that various communication and technology companies around the world have started to use robot journalism to cut costs. Google has launched a project to study the potential of robot journalism. '

Information Technology: Key Lockdown Friend

The world's human race has been hit by the coronavirus, which has spread like a global epidemic. The number of infected people is increasing by thousands every day. The Covid-19 vaccine, which has spread to more than 200 countries around the world, has not yet been developed. Scientists have suggested that the immediate solution to this is to 'lockdown' or live in solitude.

The government of Nepal has also adopted a policy of lockdown saying that one can be safe from this virus without contacting anyone. Following the decision of the government, all Nepalis have been living in lockdown for a month and a half. In such a situation, information technology is playing a significant role in making people's daily routine easier and simpler than the prevention of COVID-19. Information technology is helping to do all kinds of work in solitude.

Proper use of information technology is the main option for lockdown time. The use of information technology has made it easier for the Government of Nepal to provide information to the general public on what to do to prevent the virus, what to look for, and what the symptoms are. The Ministry of Health and Population of the Government of Nepal has launched a mobile app called 'Hamro Swasthya' which provides complete information about the corona virus. The app is designed to identify an infected person and find a nearby hospital for an infected person. In the app, a firm has been created to survey whether a person has corona or not. If the person fills in the form and finds symptoms similar to corona, the person will be contacted and tested.

Five within your province. The state has also created an app. This makes it easier to communicate information about the corona, to identify infected people, and to treat them. Nepal Police has updated the app called 'Nepal Police' to make it easier for the prevention of COVID-19. The app is in operation to report any lockdown violation, blackmail during lockdown, if you or anyone in the neighborhood has symptoms of Covid-19, or if you need to report being in self-quarantine, and if there are any problems.

This has made it easier to fully implement the lockdown, control the black market, and identify and treat those infected with COVID-19. The Consumer Rights Management Information System (CRSIS) has been launched under the Department of Commerce, Supplies and Consumer Protection to take action against those who lodge complaints and grievances online to prevent shortage of essential services and control the black market during lockouts.

Similarly, various IT companies have developed various apps and software to facilitate the prevention of Covid-19. The Prime Minister has been holding discussions with the Chief Ministers of the states through video conferencing from time to time to get information about the status of implementation of the strategies formulated for the prevention and control of COVID-19.

Similarly, the Government of Nepal will provide licensed zoom software to all local levels to facilitate online meetings at all levels.

Nepal Telecom and Ncell are informing about the symptoms of Covid-19 in the ring tone by providing information on how to avoid it. He also started a system to check if a person has any symptoms over the phone there are one. 

People are fighting against Kovid-19 by conducting information activities using information technology in solitary confinement at home. In addition, various schools and universities have started teaching activities online. It has also been decided to run the online classroom under the direction of the Ministry of Education, Vice Chancellor, Dean and departmental discussions.

Online learning platforms such as e-Library, Khan Academy, Class Central, Fate, CK Telv, British Council, Dearwalk Learning Center, EDX, Coollabs, Midas E-Class as well as YouTube and some video streaming platforms have provided various online courses.

For students who find it difficult to spend their days at home but want to study, digital education is a good opportunity to make good use of time and build knowledge. All kinds of books are available online. Because of this, online is the only option for people who are trying to read but can't afford to buy a book.

As the corona outbreak spreads, everyone is living in lockdown. No one came out except the most urgent. Apart from government hospitals, other private hospitals have not even treated people when they are sick. Cold and fever patients are no different than those seen by private hospitals.

In such a situation, information technology has provided a solution to these problems. We have various websites, apps including Doctor, Doctor On Call. They provide advice to patients based on what they ask, tell, and prescribe medication based on their symptoms. Some of these apps / websites are also treating patients through video calls. There are also online portals related to medicine that deliver the medicine requested by the patient to the home through online, go home online and collect blood sputum for lab test and send the report online.

Thus, it has become possible to provide health services through the use of information technology during lockouts. The only way to survive from Kovid-19, the companion information technology of solitude, is to fully implement lockdown. At present, people are doing everything from solitude.

The most embarrassing thing for a social being like a human being is to live in solitude. However, the use of information technology has brought people closer to social distance even though they are physically isolated. Along with spending time on various social networks, various companies and websites are offering free online trainings, and young people are gaining knowledge and skills according to their interests through classes.