20190319-Trump's Virtual Wall

Ivan on Tech (IBM’s Blockchain World Wire):

Why do we need IBM?

IBM will provide service to connect the bank’s old infrasture to XLM blockchain, to make the transition easier.

XLM vs XRP

IBM said World Wire is more open approach in selecting digital assets which act as settlement instruments.   They will work with banks to create more alternative settlement instruments.  But for now the settlement instrument is XLM.

Tether is not backed by dollar as before.  Before, it is supposed to be 1:1.   Now they say:  “From time to time, they might be backed by other assets and receivables made by Tether to Third Party.”   This statement was added to their website a week ago.   People are losing their minds because loans are not cash and has inherent risks.

The Palm Beach Daily (President Trump’s Other Wall):

Building a virtual Wall

President Trump signed the executive order declaring an emergency on the southern border on February 15, 2019.

But a few days earlier, he quietly signed another executive order declaring an even bigger emergency—one you probably didn’t hear about.

The president didn’t tweet about it... and the mainstream media didn’t blare it across headlines like they usually would.

On February 11, Trump signed the “Executive Order on Maintaining American Leadership in Artificial Intelligence.”

Dubbed the American AI Initiative, the plan essentially seeks to build a virtual “wall” around one of America’s most strategic locations—Silicon Valley.

According to geopolitical intelligence firm Stratfor’s 2019 forecast, one of the most significant strategic challenges facing the U.S. is China’s growing artificial intelligence (AI) capabilities.  

Forget a trade war... Stratfor says the U.S. is preparing for a “tech war” with China:

Artificial intelligence will be a critical area of competition between the two countries [China and the United States] because it has applications in military as well as civilian life—and will likely revolutionize both.

Last year, the Defense Department announced the creation of the Joint Artificial Intelligence Center to do just that. Currently, the center is based at the Pentagon, but the military wants to open outposts in Silicon Valley, too.

This is all part of a long-term plan by the U.S. to “wall off” American AI tech from Chinese access.

For instance, Trump recently signed legislation expanding the government’s ability to block foreign investment in U.S. companies. And he specifically cited Chinese investments in strategic U.S. technologies as a national security concern.

The president is essentially building a virtual “wall” around Silicon Valley. And once you realize how critical AI will be to the U.S. economy and national security, you’ll see why it makes sense...

Global consulting firm PricewaterhouseCoopers estimates that AI could contribute up to $15.7 trillion to the global economy in 2030. That’s more than two-thirds of U.S. GDP—and nearly more than the current output of China and India, combined.   And the problem for Trump is that China’s catching up to the U.S. in this “tech war.”

Companies that will benefit

The companies that stand to benefit most from President Trump’s AI initiative are the ones at the forefront of this technology: tech giants like Google, IBM, and Amazon. Another major player, Microsoft, recently signed a $480 million contract to build augmented reality tech for the U.S. Army.