Facebook is creating a cryptocurrency to use on WhatsApp says report

first_img 0 See how much time you’re wasting on Facebook In May, news site Cheddar reported that Facebook was “very serious” about the possibility of building its own digital currency for secure online payments. Facebook said at the time it had a small team looking into applications for blockchain — the encryption technology behind cryptocurrencies like bitcoin — but didn’t offer specifics.Facebook still has a ways to go before its cryptocurrency is ready, according to Bloomberg. The company plans to develop a stablecoin that’s pegged to the US dollar, unnamed sources told Bloomberg, but is still working on strategy and ways to protect the value of its coin.Facebook bought encrypted messaging app WhatsApp back in 2014 for $22 billion. Bitcoin Facebook Cryptocurrency WhatsApp Post a comment Share your voice Now playing: Watch this: 1:31 Tags Facebook may be getting into the cryptocurrency game.The social network is reportedly developing a digital currency that will let users transfer money on its WhatsApp messaging service, according to a report Friday from Bloomberg. The effort will focus first on the remittances market in India, according to Bloomberg.Facebook didn’t immediately respond to a request for comment. Mobile Mobile Appslast_img read more

Raghuram Rajan Criticizes Srikrishna Committee Recommendations Opposes Bringing All Regulators into One

first_imgReserve Bank of India (RBI) governor Raghuram Rajan opposed recommendations in the BN Srikrishna Committee report, and termed merging of all regulators into one entity as “schizophrenic”.The report was submitted in March 2013. Rajan debated regarding the recommendations mentioned in it during an industry event in Mumbai on Tuesday. Financial Sector Legislative Reforms Committee (FSLRC) report is important in the financial history but most of the recommendations are “faddish” and “impressionistic” than scientific, according to Rajan.The RBI governor points out two “fundamental areas of tension” from the report in his speech. One is the size and scope of regulators and the other is the negligence of regulators. Rajan claims the report does not give importance to the magnitude of synergies gained or lost.”It emphasizes synergies in bringing together some regulators into one entity. But in the process it suggests breaking up other regulators, with attendant loss of synergies,” he pointed out.The report suggests that laws which do not micromanage, gives regulators the freedom to fill in the details, in accordance with the changing needs of the economy.Speaking of this suggestion, Rajan stated: “At the same time, the FSLRC wants to check and balance the activities of regulators through judicial oversight. Too much of checks and balances could completely vitiate the flexibility afforded by rewriting laws.”Rajan opposed the recommendation mentioned in the report that merging of all regulation of trading will be done under one roof and consumer protection regulation under another. According to him, if it is implemented, then it will slow down the consistency and development of the market.The RBI governor said if the government wants to manage its own debt, then the RBI will not come in its way.”I don’t believe the government suffers any less from conflicts of interest in debt management (unlike the views of the FSLRC), but the RBI could well carry out the government’s instructions without any loss in welfare,” he said.Rajan was not in favor of implementing such recommendations as according to him, if something is not broken, there is no need to fix it.”As the Chinese would say, let us recognize the value of crossing the river by feeling each stone before we put our weight on it. Let us not take a blind jump hoping that a stone will be there to support us when we land. Or in American, if it ain’t broke, don’t fix it!” he said.last_img read more

Kamal for replacement of CEC Nurul Huda

first_imgDr Kamal HossainGano forum president Kamal Hossain on Sunday demanded the replacement of chief election commissioner (CEC) KM Nurul Huda with a credible person for holding a free and fair national election.”We couldn’t be happy after talking to the CEC. We demand that he be replaced with a credible person,” Kamal said while briefing journalists about the country’s overall political situation and election atmosphere at the National Press Club.He further said, “He (Huda) should be replaced not removed. I would like to tell the CEC again we’re not happy with over you. We may change our opinion reviewing your activities. We want you to work neutrally from today, no matter what you did in the past.”As per the constitution, the Gano Forum chief said the CEC should work neutrally and independently without being directed by any one. “But, we’re forced to say you’ve so far failed to demonstrate your impartiality.””I sincerely request the CEC to ask his conscience whether he is working spontaneously as per his own understanding or at the behest of anybody. Acting as per anybody’s directives by the CEC is not only a crime, but also a violation of the constitution. If you continue to do that you’ll be considered as a violator of the constitution in history,” he added.Referring to the CEC’s comment that all the arrests are being made as per his directives, Kamal asked Nurul Huda to explain with documents as to why he is issuing orders to arrest people. “Your explanation will help us examine whether your actions are justified or you’re doing those as an abettor of the government.”He also warned that they may move the court seeking remedy if the commission does not change its current attitude towards opposition.The Gano Forum chief said the wholesale arrest of leaders and activists of opposition parties is still going on which is not conducive to creating a congenial election atmosphere. “This wholesale arrest should be stopped.”Kamal said, “Police are the force of the state…they aren’t the government force. Police have to work for creating a proper election atmosphere. They must provide legal protection to opposition parties.”The eminent jurist urged the CEC to tell the police to help create a proper election atmosphere so that all candidates can reach out to their supporters and carry out their election campaigns with equal opportunities.He said the government is making it impossible to hold a neutral and credible election with its ‘undemocratic’ activities and ‘wholesale’ arrest of opposition leaders and activists.Kamal said they are waiting with eagerness to witness a fair and acceptable election where people, the country’s owners, will get a chance to exercise their right to franchise freely.Showing a photograph, he strongly criticised the police for the way they arrested BNP nomination hopeful Monirul Haque Chowdhury.The Gano Forum president called upon media to neutrally play their role and depict the real scenario of the country as it will help create a healthy atmosphere for a fair election.He also opposed the EC’s decision on using the EVM in six constituencies and said most parties are against it.Replying to a question on seat sharing with BNP, Kamal said there is a possibility of both creating a distance and reaching a consensus over the issue. “We forged the unity for uniting people, and we all parties will field the candidates who will be acceptable to people, responsible and can play a good role in restoring democracy.”He said they will finalise the candidates of their alliance by two or three days.Earlier, in a written speech, Gano Forum executive president Subrata Chowdhury alleged that Ganobhaban, the ministers’ residences and government offices are being used for political activities by violating the electoral code of conduct. “But the election commission is playing a silent role.”He also alleged that though the administration and the law enforcers remain under the jurisdiction of the commission during the election, the opposition leaders and activists are being constantly arrested and harassed. “Even, the possible candidates are being arrested and implicated in various cases at the behest of the government high-ups. The judiciary is also being used so that the arrested people can’t get bail within a short time.”Besides, Subrata said, the ruling party candidates are carrying out election campaigns and with assistance and protocol of law enforcers and administration while law enforcers are creating obstacles to opposition candidates’ electioneering and meetings.At the beginning of the press meet, Kamal introduced slain former Awami League finance minister Shah AMS Kibria’s son Reza Kibria and former Kurigram Awami League leader retired major general AMSA Amin who recently joined Gano Forum.The duo said they joined Gano Forum to work for the country under the leadership of Kamal.At the end of the press conference, private TV channel ETV’s ex-chairman Abuds Salam joined Gano Forum.Krishak Sramik Janata League president Abdul Kader Siddiqui, Gano Forum general secretary Mostafa Mohsin Montu and Jatiya Oikya Prokriya leader Sultan Mansur were, among others, present.last_img read more

Water to be released from Tenughat dam only after green signal from

first_imgKolkata: Damodar Valley Corporation (DVC) chairman P K Mukhopadhyay assured on Thursday that water will be released from Tenughat dam in Jharkhand, only after consultation with Damodar Valley River Regulation Committee (DVRRC), which looks after water discharge.Making it clear that DVC has been maintaining very good relations with the Bengal government, Mukhopadhyay said that talks have already been held with the officials of the state Irrigation department and another meeting is scheduled to be held very soon, to ensure that Bengal is not inconvenienced by any means due to release of water from Tenughat dam in the monsoon season. Also Read – Heavy rain hits traffic, flightsIt may be mentioned that Chief Minister Mamata Banerjee and state Irrigation minister Rajib Banerjee has alleged time and again that DVC officials did not inform the government before releasing water from the dams, resulting in flood-like situation in a number of districts in Bengal.”If we are informed some time before the release, then we can make arrangements to shift the people from vulnerable areas,” an official in the state Irrigation department said. Also Read – Speeding Jaguar crashes into Merc, 2 B’deshi bystanders killedResponding to a poser on the blame game between state government and DVC, Bandyopadhyay said, “I am not aware of any such things in the recent past. We maintain a very cordial relationship and we are hopeful that there will be absolutely no problem in this regard this year.”It may be mentioned that there is a committee comprising representatives of DVC, Central Water Commission and governments of Bengal and Jharkhand. “We usually provide updates on release of water from different dams to the committee every three hours,” a DVC official said.It may be mentioned that in July 2017, several areas of Bankura, West Midnapore and Hooghly were flooded due to alleged indiscriminate release of water by DVC. The situation had reached such a flashpoint that state Chief Secretary Malay De had to speak to his Jharkhand counterpart Raj Bala Verma and request her to maintain a check on the release of water.last_img read more

Duronto passengers protest against stale lowquality food

first_imgKolkata: In a startling incident, passengers of Sealdah-bound Duronto Express complained of stale and low quality food served by the pantry staff, on Sunday. A section of the passengers of the train first agitated inside the running train, as it was travelling from Puri to Sealdah, claiming that they had been served stale food for dinner on Saturday night, leading to some people falling ill.According to the passengers who were travelling in the train, 23 persons, including some children, fell ill after consuming the chicken in the dinner. Passengers staged agitation at Sealdah station after the train arrived there early on Sunday morning. Also Read – Speeding Jaguar crashes into Merc, 2 B’deshi bystanders killedThey also demonstrated in front of the station manager and also lodged a complaint with the senior railway officials. It has been learnt that around 23 passengers, who were from Baduria and Swarupnagar area in Basirhat, had alleged that the chicken curry that was served to them was half cooked. The chicken was not cooked well, while the chapattis were rotten, alleged the passengers.It was also alleged that many of them, including children, started vomiting after having the food. Some of the elderly passengers who had consumed the food, had complained of upset stomach, they claimed. Also Read – Naihati: 10 councillors return to TMC from BJPThey urged the on-duty pantry staff to give them curd and rice, which they refused. As a result of this, some of the passengers lodged a written complaint with the Eastern Railway authorities, after the train reached Sealdah at around 4 am.Senior officials tried to pacify the passengers, who were staging demonstration at platform number 9A.Railway police and RPF rushed to the spot to bring the situation under control. The senior officials assured them that the matter would be looked into.”An enquiry has been ordered into the complaint and action will be taken against the food supplier if the allegation of serving stale and cold food is found to be true,” a senior official of Eastern Railways said.last_img read more