Connect with us

Technology

Bitcoin paradise? Briton creates ‘crypto utopia’ in South Pacific | Cryptocurrencies

For the past 12 years Anthony Welch and his partner Theresa have been living a Robinson Crusoe life alone on a South Pacific island mostly untouched by humanity.

Welch, a retired British property investor, hopes the tranquility will soon be shattered by 21,000 cryptocurrency investors he is trying to convince to move to his island and form a regulation-free “crypto utopia”.

Under Welch’s plan, the 3 million sq metre (32 million sq ft) island, which is part of the Vanuatu archipelago between Australia and Fiji, would be transformed from 90% undisturbed rainforest into a “sustainable smart city”, filled with multistorey apartment blocks and offices for cryptocurrency investors from around the world.

Welch, who has renamed the island from its native name Lataro to Satoshi (in a nod to Satoshi Nakamoto the pseudonym of the person who invented bitcoin), has joined forces with cryptocurrency evangelists to create a “blockchain-based democracy” and “the crypto capital of the world”.

However, Welch will first have to unwind his previous marketing of the island as a “wildlife nature reserve” home to rare giant crabs.

In his previous attempt to sell the island for $12m (£9m), Lataro is described as an ecological paradise “covered in lush rainforests, together with a wonderful array of flora and fauna that’s been here for thousands of years undisturbed and will surely make anyone believe they have gone back in time”.

A video promoting the island for sale in 2017 boasts that the 4 miles of “pristine coral reef surrounding the island is a marine conservation area” that “teems with beautiful fish and coral life”. It says only a handful of people have ever dived at the reef and “most parts of it have never been explored”.

The Welches have previously petitioned the Vanuatu government to designate the island as a wildlife reserve to “prevent the extinction” of the rare coconut crab. “The ultimate goal is to re-establish the breed strongly on the island,” Theresa said.

A website describing the couple’s efforts to establish the wildlife reserve was deleted soon after the Guardian approached Welch for comment. He said the reserve was “voluntary” and one that he could “dismantle at any time” to allow for the building of the crypto city.

“This was the last place with coconut crabs, they [the local population] had decimated them absolutely everywhere else on Espiritu Santo [Vanuatu’s largest island nearby],” Welch told the Guardian.

“We formed the reserve to try to stop them decimating them here to get the numbers back up … the government department for the environment have supported us creating a wildlife refuge here.”

The Satoshi island project is the latest in a series of schemes aimed at bringing cryptocurrency fanatics out from behind the blockchain in their bedrooms and into real-world community in small island states.

The president of Palau, another Pacific island nation about 3,000 miles to the northeast of Vanuatu, has launched plans to become “the world’s first government-backed national stablecoin” by the end of the year.

President Surangel Whipps Jr says the country has partnered with Ripple, a US cryptocurrency firm whose executives have been charged by the Securities and Exchange Commission of stealing $1.3bn worth of the tokens, “to create a national digital currency, providing the citizens of Palau with greater financial access”.

Plans to establish Cryptoland on an island in Fiji – where investors were told they would “enjoy a first-class crypto lifestyle” – collapsed earlier this month when the promoters failed to buy the island.

Welch says Satoshi Island will succeed where Cryptoland failed because he and his partners own the island, and claims the development plans have the support of both the Vanuatu government and the local community.

However, the Vanuatu government failed to respond to requests for comment, and Welch was unable to provide contact details for any current local residents.

“We’re trying to build a community,” Welch said in an interview over satellite link to the island which currently has no mains electricity, water, phone or internet connection. “We’re not trying to develop and make a profit.”

He said a team of cryptocurrency evangelists who had been searching the world for a location to form a “crypto society” approached Welch after seeing his island advertised for sale for $12m on private island real estate website.

Welch took the island off the market and entered into a complex partnership with Hong Kong-based architect James Law, Australian crypto entrepreneur Denys Troyak and Daniel Agius, chief operating officer of the Vanuatu Investment Migration Bureau, an agency that sells Vanuatu citizenship.

“The crypto paradise they want to build is a really cool idea, and a wonderful use of a place we have been able to live on for 12 years,” Welch said.

“The team had been working to find a location for some time, the key issue was trying to find a government that would … permit a society to exist on crypto transactions. Most countries in the world want to collect tax, and they therefore don’t want crypto transactions happening because they can’t monitor what’s happening. Vanuatu has no income taxes of any sort.”

The trio are promising 21,000 investors the island will “become home for crypto professionals and enthusiasts, with a goal to be considered the crypto capital of the world”.

Q&A

What is cryptocurrency?

Show

Cryptocurrencies are an alternative way of making payments to cash or credit cards. The technology behind it allows the ‘money’ to be sent directly to others without it having to pass through the banking system. For that reason they are outside the control of governments and are unregulated by financial watchdogs – and transactions can be made in a way that keeps you reasonably pseudonymous.

If you own a crypto-asset you control a secret digital key that you can use to prove to anyone on the network that a certain amount of that asset is yours. If you spend it, you tell the entire network that you have transferred ownership of it, and use the same key to prove that you are telling the truth. Over time, the history of all those transactions becomes a lasting record of who owns what: that record is called the blockchain.

Bitcoin was one of the first and biggest cryptocurrencies and has been on a wild ride since its creation in 2009, sometimes surging in value as investors have piled in – and occasionally crashing back down. Dogecoin – which started as a joke – has also seen a stratospheric rise in value.

Sceptics warn that the lack of central control make crypto-assets ideal for criminals and terrorists, while libertarian monetarists enjoy the idea of a currency with no inflation and no central bank.

The whole concept of cryptocurrencies has been criticised for its ecological impact, with “mining” for new coins requiring vast energy reserves and the associated carbon footprint of the whole system.

Richard Partington and Martin Belam

Thank you for your feedback.

“Life on the island will be an experience like no other, giving the crypto community a way to live and work amongst like-minded people in a place designed around the industry we love,” they say on a website promoting the island.

Successful applicants wanting to live on the island will be granted with a non-fungible token (NFT) granting them “Satoshi Island citizenship”. However, the small print details that they will also have to gain Vanuatu citizenship to live on the island.

Vanuatu citizenship costs $130,000 and allows “golden passport” visa-free travel to 129 countries, including the UK and all Schengen countries in Europe.

The country is heavily promoting its “citizenship by investment” programme despite concerns that the scheme has been exploited by fugitives, politicians and disgraced businesspeople.

A Guardian investigation last year found that among the 2,200 foreign nationals granted citizenship in 2020 were a Syrian businessman with US sanctions against his businesses, a suspected North Korean politician, an Italian businessman accused of extorting the Vatican and South African brothers accused of a $3.6bn cryptocurrency heist.

Vanuatu this month appointed Mayfair-based citizenship marketing firm CS Global Partners to attract more to buy Vanuatu nationality, which is granted with an online “oath swearing ceremony” and does not require the new citizen to ever visit the country.

Selling citizenships equates to almost 50% of Vanuatu’s total annual revenue, according to the International Monetary Fund (IMF).

This article was amended on 12 February 2022. The island is 3 million sq metres (32m sq ft), not 3,000 sq metres (32,000 sq ft) as stated in an earlier version.



Source link

Current

How Automated Moveable Medians Redefining Traffic Flow And Revolutionizing Road Safety

AI Revolutionizing Road Safety

The Voice Of EU | In today’s fast-paced world, where traffic congestion and road safety concerns continue to plague urban landscapes, the integration of advanced technology is becoming a beacon of hope for a safer, and more efficient transportation system. One such groundbreaking innovation that’s redefining traffic flow and ensuring safety on the roads is the implementation of Automated Moveable Medians (AMMs).

The Genesis of Automated Moveable Medians

The traditional median strip, often a static feature on roadways, primarily serves as a visual barrier between opposing lanes, minimizing head-on collisions and contributing to general road safety. However, these static medians often fall short in adapting to dynamic traffic patterns and fail to respond to changing conditions, leading to potential hazards during peak traffic hours or emergencies.

The concept of Automated Moveable Medians (AMMs) marks a paradigm shift in road safety and traffic management. These medians are equipped with cutting-edge AI, Machine Learning, and Robotics technologies, enabling them to autonomously adjust their positions based on real-time traffic conditions, thereby optimizing traffic flow and enhancing safety.

How Automated Moveable Medians Function

Utilizing a network of sensors, cameras, and AI algorithms, AMMs continuously monitor traffic density, speed, and patterns. When traffic begins to congest in one direction, the AMMs autonomously shift their positions, reallocating lanes to accommodate the higher traffic volume. By dynamically altering the median’s position, these systems effectively create additional lanes or expand existing ones, mitigating congestion and reducing the likelihood of accidents.

Statistical Insights Driving Adoption

According to recent studies conducted by transportation authorities in major urban centers:

– AMMs have shown a remarkable reduction of up to 30% in the number of accidents caused by lane misallocation or static medians’ inability to adapt to dynamic traffic.

– Improved traffic flow has led to a significant decrease in commute times by an average of 15%-25% during peak hours.

– Real-time adjustments by AMMs have demonstrated a 25% decrease in overall congestion levels on highly trafficked roads.

– Reduced congestion and smoother traffic flow have translated into a notable decline of up to 30% in carbon emissions in these areas.

The Future Prospects and Challenges

While the advent of AMMs presents a promising solution to traffic-related issues, there are challenges to address. Ensuring the seamless integration of these systems into existing infrastructures, addressing potential cybersecurity threats, and navigating regulatory frameworks are essential considerations for wider implementation.

Moreover, while AMMs offer a viable solution for major roads and highways, their application in densely populated urban areas and narrower streets requires meticulous planning to avoid hindering pedestrian movement and emergency services’ access.

Collaborative Efforts for Implementation

The successful implementation and scalability of AMMs hinge upon collaborative efforts among transportation authorities, urban planners, AI developers, and governmental bodies. The synergy of expertise from these diverse sectors can facilitate the deployment of AMMs in high-priority areas, improving road safety and traffic management.

The emergence of Automated Moveable Medians heralds a new era in transportation innovation. By leveraging advanced technologies, these dynamic systems are not only enhancing traffic flow but also contributing significantly to road safety, making our streets safer and more efficient for all commuters.


We Can’t Thank You Enough For Your Support!

By John Elf, Contributor “The Voice Of EU

— For more information: info@VoiceOfEU.com

— Anonymous news submissions: press@VoiceOfEU.com


Continue Reading

Global Affairs

Open Source Software (OSS) Supply Chain, Security Risks And Countermeasures

OSS Security Risks And Countermeasures

The software development landscape increasingly hinges on open source components, significantly aiding continuous integration, DevOps practices, and daily updates. Last year, Synopsys discovered that 97% of codebases in 2022 incorporated open source, with specific sectors like computer hardware, cybersecurity, energy, and the Internet of Things (IoT) reaching 100% OSS integration.

While leveraging open source enhances efficiency, cost-effectiveness, and developer productivity, it inadvertently paves a path for threat actors seeking to exploit the software supply chain. Enterprises often lack visibility into their software contents due to complex involvement from multiple sources, raising concerns highlighted in VMware’s report last year. Issues include reliance on communities to patch vulnerabilities and associated security risks.

Raza Qadri, founder of Vibertron Technologies, emphasizes OSS’s pivotal role in critical infrastructure but underscores the shock experienced by developers and executives regarding their applications’ OSS contribution. Notably, Qadri cites that 95% of vulnerabilities surface in “transitive main dependencies,” indirectly added open source packages.

Qadri also acknowledges developers’ long-standing use of open source. However, recent years have witnessed heightened awareness, not just among developers but also among attackers. Malware attacks targeting the software supply chain have surged, as demonstrated in significant breaches like SolarWinds, Kaseya, and the Log4j exploit.

Log4j’s widespread use exemplifies the consolidation of risk linked to extensively employed components. This popular Java-based logging tool’s vulnerabilities showcase the systemic dependency on widely used software components, posing significant threats if exploited by attackers.

Moreover, injection of malware into repositories like GitHub, PyPI, and NPM has emerged as a growing threat. Cybercriminals generate malicious versions of popular code to deceive developers, exploiting vulnerabilities when components are downloaded, often without the developers’ knowledge.

Despite OSS’s security risks, its transparency and visibility compared to commercial software offer certain advantages. Qadri points out the swift response to Log4j vulnerabilities as an example, highlighting OSS’s collaborative nature.

Efforts to fortify software supply chain security are underway, buoyed by multi-vendor frameworks, vulnerability tracking tools, and cybersecurity products. However, additional steps, such as enforcing recalls for defective OSS components and implementing component-level firewalls akin to packet-level firewalls, are necessary to fortify defenses and mitigate malicious attacks.

Qadri underscores the need for a holistic approach involving software bills of materials (SBOMs) coupled with firewall-like capabilities to ensure a comprehensive understanding of software contents and preemptive measures against malicious threats.

As the software supply chain faces ongoing vulnerabilities and attacks, concerted efforts are imperative to bolster security measures, safeguard against threats, and fortify the foundational aspects of open source components.


We Can’t Thank You Enough For Your Support!

By John Elf | Science, Technology & Business contributor VoiceOfEU.com Digital

— For more information: info@VoiceOfEU.com

— Anonymous news submissions: press@VoiceOfEU.com


Continue Reading

Culture

Choco: Revolutionizing The FoodTech Industry With Innovation & Sustainability | EU20

By Clint Bailey

— In the rapidly evolving world of food technology, European startup Choco has emerged as a pioneering force. With its website, Choco.com, this Berlin-based company is transforming the way food industry professionals operate by leveraging innovative digital solutions. By linking restaurants, distributors, suppliers, and producers on a single platform, Choco is streamlining the supply chain process while promoting sustainability.

Let’s explore the journey of Choco.com and its impact on the overall foodtech industry.


  1. Company: Choco Technologies GmbH
  2. Website: www.Choco.com
  3. Head Office: Berlin, Germany
  4. Year Established: 2018
  5. Founders: Choco was co-founded by Daniel Khachab, Julian Hammer, and Rogerio da Silva.
  6. Industry: Choco operates in the foodtech industry, specifically focusing on digitizing the supply chain for the food industry.
  7. Funding: Choco has secured significant funding rounds from investors, including Bessemer Venture Partners & Coatue Management.
  8. Market Presence: Choco has a strong presence in several European cities, including Berlin, Paris, London & Barcelona.
  9. Mission: Choco aims to revolutionize the food industry by leveraging technology to simplify supply chain management, promote sustainability, and reduce food waste.

Simplifying Supply Chain Management

One of the core focuses of Choco is to simplify supply chain management for food businesses. Traditionally, the procurement process in the food industry has been cumbersome and inefficient, with numerous intermediaries and manual processes. Choco’s digital platform replaces the traditional paper-based ordering system, allowing restaurants and suppliers to communicate and collaborate seamlessly.

Choco’s platform enables restaurants to place orders directly with suppliers, eliminating the need for phone calls, faxes, or emails. This not only saves time but also reduces the likelihood of errors and miscommunications.

By digitizing the ordering process, Choco improves transparency, making it easier for restaurants to compare prices, track deliveries, and manage inventory efficiently.

Streamlining Operations For Suppliers & Producers

Choco’s impact extends beyond restaurants. The platform also provides suppliers and producers with valuable tools to streamline their operations. By digitizing their product catalogs and integrating them into the Choco platform, suppliers can showcase their offerings to a wide network of potential buyers.

Suppliers benefit from increased visibility, enabling them to reach new customers and expand their market presence. Moreover, Choco’s platform helps suppliers manage their inventory, track orders, and plan deliveries effectively. These features enhance operational efficiency, reduce waste, and ultimately contribute to a more sustainable food system.

https://youtube.com/@choco233
YouTube Channel

Promoting Sustainability & Reducing Food Waste

Choco recognizes the critical importance of sustainability in the food industry. According to the United Nations, approximately one-third of the world’s food production goes to waste each year. By digitizing the supply chain and enabling more efficient ordering and inventory management, Choco actively works to combat this issue.

Air France – Deals & Destinations

Choco’s platform facilitates data-driven decision-making for restaurants, suppliers, and producers. By analyzing purchasing patterns & demand, Choco helps businesses optimize their inventory levels, reducing overstocking and minimizing food waste. Additionally, Choco supports local sourcing, enabling businesses to connect with nearby suppliers & promote sustainable, community-based practices.

Expanding Reach & Impact

Since its founding in 2018, Choco has experienced rapid growth and expansion. The startup has successfully secured significant funding rounds, allowing it to scale its operations and establish a strong presence across Europe and other global markets. Today, Choco’s platform is used by thousands of restaurants and suppliers, revolutionizing the way they operate.

Choco’s impact extends beyond operational efficiency or sustainability. By connecting restaurants, suppliers & producers on a single platform, Choco fosters collaboration & encourages the exchange of ideas. This collaborative approach strengthens the overall foodtech ecosystem and creates a supportive community of like-minded aiming to drive positive change within the industry.

Future Of FoodTech

Choco’s rise to prominence in the foodtech industry exemplifies the reach of sustainability, innovation, and community. Through its user-friendly platform, Choco simplifies supply chain management, streamlines operations for restaurants & suppliers, and actively promotes sustainable practices. By harnessing the potential of digital, Choco is disrupting the future of the food industry, making it more efficient and transparent.

As Choco continues to expand its impact and reach, its transformative influence on the foodtech sector is set to inspiring, grow other startups, and established players to embrace technology for a better and more sustainable food system.


We Can’t Thank You Enough For Your Support!


— Compiled by Clint Bailey | Team ‘Voice of EU’
— For More Info. & News Submissions: info@VoiceOfEU.com
— For Anonymous News Submissions: press@VoiceOfEU.com


Continue Reading

Trending

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates 
directly on your inbox.

You have Successfully Subscribed!