US adopts blinkered view of TikTok

TikTok, a global music and video platform created in 2016 by Chinese internet technology company ByteDance, is known in China as Douyin. Photo: VCG

A Senate subcommittee hearing on Tuesday focused on discussions about the significant risks that short-form social video app TikTok could pose to US national security and citizens' privacy.

The accusations about TikTok are based on the assumption that its parent company ByteDance may hand over personal information of the app's US users to the Chinese government, thus posing huge risks to users and the country. In addition, there are also claims that TikTok censors content. TikTok denies both charges.

TikTok runs its business according to US law, so how can it threaten US national security? Many people believe that the US is using this as an excuse to crack down on this globally successful Chinese social media app. To date, all popular social media platforms have been created by US companies, but TikTok is an exception. It challenges their monopoly and some American elites are uncomfortable about it.

Over the past 12 months, TikTok's app has been downloaded more than 750 million times, compared with 715 million for Facebook, 450 million for Instagram and 300 million for YouTube. Its success has even worried Facebook CEO Mark Zuckerberg and now Facebook is developing a short video sharing application that mimics TikTok.

It's not a good trait for the US to suppress competitors of American companies by political means. Washington has taken extreme measures against Huawei, such as cutting off the supply of some components, a move that cracks down on competitors at the expense of hurting domestic companies. There are signs that TikTok is the next target. What the US is doing is driven by extreme protectionism and runs counter to a free market economy.

Washington elites should think about that. US-developed social networking sites are popular around the world. Any country can use the same concerns US lawmakers have about TikTok to target Facebook, Twitter and Instagram. Without any evidence, if every country conjured up risks to challenge those companies, would the world ever be able to share common applications? If such national security principles were to be promoted globally, US internet giants would suffer the most.

The US internet market is becoming solidified. Americans are supposed to welcome competition from TikTok. China's internet market has changed tremendously in recent years with JD challenging the dominance of Baidu, Alibaba and Tencent, followed by the rise of strong players such as TikTok and PDD, which boost the dynamics of the Chinese internet market. The US shouldn't suppress competition and encourage idleness.

Despite being the strongest country in the world, the US often accuses others of being national security risks. It uses political means to safeguard its existing interests when its technology falls short. But this approach will affect how Americans view modern competition and how American society participates in international competition. In the long run, some American companies may use dishonest practices, not better technology and innovation, in the international marketplace.

The US should carefully study the TikTok phenomenon and learn from it. TikTok has its own algorithm, but it pays close attention to abiding by laws and customs of the countries where it is carrying out business activities. When in Rome, do as the Romans do - this is a universal rule for business activities. All US social media giants have the opportunity to enter the Chinese market if they follow that rule.

We hope the US won't go to extremes. Being open is where US interests lie. Even if they have worries about TikTok, they must exercise restraint. Many people are worried that the US might monitor them through various means every day, but they are restrained and rational. The US has no reason not to do likewise.

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China gets into blockchain race with US

Blockchain is perhaps best known for underpinning the operation of cryptocurrencies such as bitcoin, which Beijing may seek to replicate.PHOTO: REUTERS

One example of the potential application of blockchain technology is a newly launched app by the Communist Party that asks members to explain why they joined and what party loyalty means to them. (Photo: AFP/Greg Baker)

BEIJING: China has launched an ambitious effort to challenge the US dominance in blockchain technology, which it could use for everything from issuing digital money, to streamlining a raft of government services and tracking Communist Party loyalty.

The technology received a crucial endorsement from President Xi Jinping last week, a signal that the government sees blockchain as an integral part of the country's plan to become a high-tech superpower.

Beijing is the latest in a handful of countries to have adopted a law strictly governing the encryption of data - particularly blockchain technology, which allows the storage and direct exchange of data without going through an intermediary.

Reputedly unfalsifiable, blockchain is a database shared across a network of computers. Once a record has been added to the chain it is almost impossible to change.

It is perhaps best known for underpinning the operation of cryptocurrencies such as bitcoin - which Beijing may seek to replicate as it pushes ahead with its plans for a world-leading government-run digital currency.

Blockchain technology received a crucial endorsement from President Xi Jinping last week, a signal that the government sees it as an integral part of the country's plan to become a high-tech superpower. (Photo: AFP/Andrew Caballero-Reynolds)

Although the new law for blockchain "is still rather vague", the country is clearly one of the most active in terms of regulation, Stanislas Pogorzelski, editor of specialist site Cryptonaute.fr, told AFP.

"China has understood very well that to stay a superpower, you have to be at the forefront of new technologies," said Pogorzelski.

Blockchain is set to play a key role in many sectors in the future, including digital finance, internet of things, artificial intelligence and 5G.

LESS HUMAN INTERVENTION 

Bitcoin(FX:BTC/USD)Stock market insights from social media

Updated https://sentifi.com/currencies/bitcoin

It could also serve to make China's vast bureaucratic system more efficient.

The official Xinhua news agency said a blockchain-based system had been used for the first time to automatically generate and file an enforcement case in Chinese court against a party who failed to pay damages in a mediation agreement.

With less human intervention, such systems could make judicial enforcement in China "more intelligent and transparent," the agency said.

Chinese shares jumped this week as investors piled into stocks linked to blockchain, after Xi said China should step up research and development of the technology.

"Blockchain should play a bigger role in strengthening Chinese power in cyberspace, developing the digital economy and promoting socio-economic development," Xi said.

"The general sentiment of Xi's comments was simple," said Anthony Pompliano, who writes a daily cryptocurrency newsletter.

"Blockchain technology is really important for the future and China plans to be the global leader," Pompliano added.

LOYALTY TEST

According to analyst Kai von Carnap of the Mercator Institute for Chinese Studies, blockchain-backed tools have potential applications that go well beyond improving administrative efficiency in China.

"More interesting will be those targeting party discipline, internal stability and ideological loyalty," Von Carnap told AFP.

 

Chinese shares jumped this week as investors piled into stocks linked to blockchain, after Xi said China should step up research and development of the technology. (Photo: AFP/Hector Retamal)

One example is a newly launched app by the Communist Party that asks members to explain why they joined and what party loyalty means to them.

Blockchain technology is then used to store their responses on a permanent, widely distributed ledger - recording their thoughts in cyberspace forever.

"NOT A FAN"

As China trumpets its push for more blockchain technology, it is hoping to outpace trade-war rival the United States, whose President Donald Trump tweeted his disdain for cryptocurrencies in July.

"I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air," he wrote.

The contrast between the world's two biggest economies is "striking", according to Pompliano, who says "bitcoin, blockchain technology, and digital assets are not a priority for America".

Facebook chief executive Mark Zuckerberg had to defend his plans to launch a digital coin called Libra to the US Congress in October, after it faced a torrent of criticism from all sides - including governments who see it as a threat to their monetary sovereignty.

"I don't think Libra will succeed," Huang Qifan, vice director of the CCIEE, an economic think-tank that advises Beijing, said this week in remarks widely reported by state media.

"It is better ... to have sovereign digital currencies issued by a government or a central bank," he said.

Last year China released a damning report on existing digital currencies, saying they were "increasingly used as a tool in criminal activities."

But while Beijing banned cryptocurrencies two years ago, it is fast-tracking preparations for its own state-run virtual currency, which is supposed to facilitate transactions and reduce costs.

The anonymity of cryptocurrencies allows users to buy and sell freely without leaving a digital trail - but China's mooted e-cash system will be tightly regulated, experts say, and run by the People's Bank of China.

Source: AFP/zl   Source link


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Losing faith in reform of Malaysian education system

TO put it bluntly, I have lost confidence in our education system.

There were high expectations after the new government came into power after May 9,2018 with

its promises of reforms, and we hoped that our education system would be restored to its previous glory. But after the blunders in the past one-and-half years, I see little hope in Education Minister Dr Maszlee Malik turning things around for the better.

I have little choice now but to pull my children out of the national school system despite having to work much harder to afford private education for them.

From my observations, recent developments in the Education Ministry show that Maszlee has little or no experience in running the ministry, which is close to the hearts of all Malaysians.

His suggestion to implement free breakfast for all children will cost millions, if not billions, of ringgit; money that could be used for more meaningful things like upgrading school facilities. After all, not all children will eat their breakfast.

His latest blunder was to propose the abolition of streaming in upper secondary level. When you abolish streaming, you will end up with a rojak curriculum where the children become a jack of all trades but master of none. Their grounding in the sciences or arts would not be strong enough for them to survive their university education.

Already, the national syllabus is rojak at best, with more subjects and topics being introduced every year. I cannot imagine my children having to go through the next 10 years of their education learning things that are not relevant to their future careers.

Just think of a 10-year-old child having to learn two or three languages, Science and Mathematics, plus a host of the other subjects like Health Science, Physical Education, Architecture (reka bentuk), Moral and Civics Education, Information Technology, Arts and Craft, History and Geography. On top of these, there’s Khat and Chinese calligraphy too.

Furthermore, some principals, especially in Chinese schools, are adding to the financial burdens of the parents by asking them to buy more workbooks than allowed by the ministry.

When my son was in Standard Three, I was shocked to see that he had 21 workbooks. When he moved up to Standard Four, he had to go through a total of 440 pages for just one subject, Bahasa Melayu.

By comparison, schools conducting international syllabi such as IGCSE (International General Certificate of Secondary Education) only require the children to concentrate on four or five subjects. They focus only on the key areas that will help fulfil their prerequisites for a university education while the rest can be learnt as a hobby instead of being taught in a classroom situation.

My plan was to put my children in Chinese primary school so that they could learn the language. This means they would have to struggle with Mandarin in the first six years of their education, Bahasa Malaysia in secondary level and then English when they enter university.

Like it or not, for Malaysia to compete internationally, we still need the international languages that are widely used across the world without, of course, neglecting Bahasa Malaysia or the mother tongues, which have their place in the country.

One reason why many of our graduates are not employable is because they cannot even express themselves properly.

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China gets into blockchain race with US

Blockchain is perhaps best known for underpinning the operation of cryptocurrencies such as bitcoin, which Beijing may seek to replicate.PHOTO: REUTERS

One example of the potential application of blockchain technology is a newly launched app by the Communist Party that asks members to explain why they joined and what party loyalty means to them. (Photo: AFP/Greg Baker)

BEIJING: China has launched an ambitious effort to challenge the US dominance in blockchain technology, which it could use for everything from issuing digital money, to streamlining a raft of government services and tracking Communist Party loyalty.

The technology received a crucial endorsement from President Xi Jinping last week, a signal that the government sees blockchain as an integral part of the country's plan to become a high-tech superpower.

Beijing is the latest in a handful of countries to have adopted a law strictly governing the encryption of data - particularly blockchain technology, which allows the storage and direct exchange of data without going through an intermediary.

Reputedly unfalsifiable, blockchain is a database shared across a network of computers. Once a record has been added to the chain it is almost impossible to change.

It is perhaps best known for underpinning the operation of cryptocurrencies such as bitcoin - which Beijing may seek to replicate as it pushes ahead with its plans for a world-leading government-run digital currency.

Blockchain technology received a crucial endorsement from President Xi Jinping last week, a signal that the government sees it as an integral part of the country's plan to become a high-tech superpower. (Photo: AFP/Andrew Caballero-Reynolds)

Although the new law for blockchain "is still rather vague", the country is clearly one of the most active in terms of regulation, Stanislas Pogorzelski, editor of specialist site Cryptonaute.fr, told AFP.

"China has understood very well that to stay a superpower, you have to be at the forefront of new technologies," said Pogorzelski.

Blockchain is set to play a key role in many sectors in the future, including digital finance, internet of things, artificial intelligence and 5G.

LESS HUMAN INTERVENTION 

Bitcoin(FX:BTC/USD)Stock market insights from social media

Updated https://sentifi.com/currencies/bitcoin

It could also serve to make China's vast bureaucratic system more efficient.

The official Xinhua news agency said a blockchain-based system had been used for the first time to automatically generate and file an enforcement case in Chinese court against a party who failed to pay damages in a mediation agreement.

With less human intervention, such systems could make judicial enforcement in China "more intelligent and transparent," the agency said.

Chinese shares jumped this week as investors piled into stocks linked to blockchain, after Xi said China should step up research and development of the technology.

"Blockchain should play a bigger role in strengthening Chinese power in cyberspace, developing the digital economy and promoting socio-economic development," Xi said.

"The general sentiment of Xi's comments was simple," said Anthony Pompliano, who writes a daily cryptocurrency newsletter.

"Blockchain technology is really important for the future and China plans to be the global leader," Pompliano added.

LOYALTY TEST

According to analyst Kai von Carnap of the Mercator Institute for Chinese Studies, blockchain-backed tools have potential applications that go well beyond improving administrative efficiency in China.

"More interesting will be those targeting party discipline, internal stability and ideological loyalty," Von Carnap told AFP.

 

Chinese shares jumped this week as investors piled into stocks linked to blockchain, after Xi said China should step up research and development of the technology. (Photo: AFP/Hector Retamal)

One example is a newly launched app by the Communist Party that asks members to explain why they joined and what party loyalty means to them.

Blockchain technology is then used to store their responses on a permanent, widely distributed ledger - recording their thoughts in cyberspace forever.

"NOT A FAN"

As China trumpets its push for more blockchain technology, it is hoping to outpace trade-war rival the United States, whose President Donald Trump tweeted his disdain for cryptocurrencies in July.

"I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air," he wrote.

The contrast between the world's two biggest economies is "striking", according to Pompliano, who says "bitcoin, blockchain technology, and digital assets are not a priority for America".

Facebook chief executive Mark Zuckerberg had to defend his plans to launch a digital coin called Libra to the US Congress in October, after it faced a torrent of criticism from all sides - including governments who see it as a threat to their monetary sovereignty.

"I don't think Libra will succeed," Huang Qifan, vice director of the CCIEE, an economic think-tank that advises Beijing, said this week in remarks widely reported by state media.

"It is better ... to have sovereign digital currencies issued by a government or a central bank," he said.

Last year China released a damning report on existing digital currencies, saying they were "increasingly used as a tool in criminal activities."

But while Beijing banned cryptocurrencies two years ago, it is fast-tracking preparations for its own state-run virtual currency, which is supposed to facilitate transactions and reduce costs.

The anonymity of cryptocurrencies allows users to buy and sell freely without leaving a digital trail - but China's mooted e-cash system will be tightly regulated, experts say, and run by the People's Bank of China.

Source: AFP/zl   Source link



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Investors up in arms after fall of MBI | The Star Online

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President Xi’s Blockchain Push Triggers Frenzy in China Technology Stocks

Blockchain endorsement : Xi said China will increase investment in blockchain technology after chairing a study session last week on d.

What is Blockchain Technology, its uses and applications?

 

BLOCKCHAIN beyond Bitcoin

Losing faith in reform of Malaysian education system

TO put it bluntly, I have lost confidence in our education system.

There were high expectations after the new government came into power after May 9,2018 with

its promises of reforms, and we hoped that our education system would be restored to its previous glory. But after the blunders in the past one-and-half years, I see little hope in Education Minister Dr Maszlee Malik turning things around for the better.

I have little choice now but to pull my children out of the national school system despite having to work much harder to afford private education for them.

From my observations, recent developments in the Education Ministry show that Maszlee has little or no experience in running the ministry, which is close to the hearts of all Malaysians.

His suggestion to implement free breakfast for all children will cost millions, if not billions, of ringgit; money that could be used for more meaningful things like upgrading school facilities. After all, not all children will eat their breakfast.

His latest blunder was to propose the abolition of streaming in upper secondary level. When you abolish streaming, you will end up with a rojak curriculum where the children become a jack of all trades but master of none. Their grounding in the sciences or arts would not be strong enough for them to survive their university education.

Already, the national syllabus is rojak at best, with more subjects and topics being introduced every year. I cannot imagine my children having to go through the next 10 years of their education learning things that are not relevant to their future careers.

Just think of a 10-year-old child having to learn two or three languages, Science and Mathematics, plus a host of the other subjects like Health Science, Physical Education, Architecture (reka bentuk), Moral and Civics Education, Information Technology, Arts and Craft, History and Geography. On top of these, there’s Khat and Chinese calligraphy too.

Furthermore, some principals, especially in Chinese schools, are adding to the financial burdens of the parents by asking them to buy more workbooks than allowed by the ministry.

When my son was in Standard Three, I was shocked to see that he had 21 workbooks. When he moved up to Standard Four, he had to go through a total of 440 pages for just one subject, Bahasa Melayu.

By comparison, schools conducting international syllabi such as IGCSE (International General Certificate of Secondary Education) only require the children to concentrate on four or five subjects. They focus only on the key areas that will help fulfil their prerequisites for a university education while the rest can be learnt as a hobby instead of being taught in a classroom situation.

My plan was to put my children in Chinese primary school so that they could learn the language. This means they would have to struggle with Mandarin in the first six years of their education, Bahasa Malaysia in secondary level and then English when they enter university.

Like it or not, for Malaysia to compete internationally, we still need the international languages that are widely used across the world without, of course, neglecting Bahasa Malaysia or the mother tongues, which have their place in the country.

One reason why many of our graduates are not employable is because they cannot even express themselves properly.

Source link


Related posts:

Malaysia’s Public Universities Falling Behind

Malaysia failed because education ministry didn’t get priorities right !

 

Daim: Malaysia far from being able to compete globally | The Edge ...

Let us not be under any illusions * We are still far from being out of the woods * We are far from being ready for the changes happening around us * We are far from being a united people * We are far from being able to compete at global level * We are far from being able to embrace differences and changes * underpinning all this unpreparedness is education * education key to preparing youth for future * education ministry has failed to prioritise right issues * hindered  progress of reforms within the national education policy

Let’s talk economy – the sequel of education

The pump-prime our financial situation, we need a massive investment to revamp and rebuild our education 
  https://youtu.be/FVnBpckzi5U

Malaysian mediocre education system and quota: The Endgame

Education Minister Dr Maszlee Malik comes under more fire over intake quota and Mandarin requirement for jobs

Can you spare a minute to look at this? http://chng.it/bbZwKBNg 1⃣ 网民重启老马当教长运动 2⃣支持者秒速联署反映惊人 3⃣这匹马不行就换另一匹马 4⃣你签署了吗?

 

Malaysia's education policy must champion Meritocracy instead of Mediocrity system

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  Move away from a culture of mediocrity! Who does Malaysia belong to?

Declining performance of Malaysia's civil service, World Bank report

President Xi’s Blockchain Push Triggers Frenzy in China Technology Stocks

Blockchain endorsement: Xi said China will increase investment in blockchain technology after chairing a study session last week on developing the industry, state-owned Xinhua reported.— AP
 
https://youtu.be/hfNcct7ZfbE

https://youtu.be/KoDD2Yk0bjE

• Shenzhen tech index surges 5.3%, the most in eight months
• Investors urge companies to develop blockchain businesses

BEIJING: Chinese investors snapped up every blockchain-related stock in sight after President Xi Jinping said Beijing wants to speed up development of the technology.

The gains were widespread yesterday, with Insigma Technology Co and Sinodata Co among more than 60 tech shares surging by the daily limit in Shanghai and Shenzhen.

The excitement coincided with a 26% rally in Bitcoin, and also boosted stocks with more tenuous connections to blockchain, like baby-food producer Beingmate Co and selfie-app developer Meitu Inc.

Xi said China will increase investment in blockchain technology after chairing a study session last week on developing the industry, state-owned Xinhua reported late last Friday.

The market reaction shows how far an endorsement from Xi can go in China, where high-level officials yesterday began their first major policy meeting since early 2018.

“Most of these companies, especially those that are just beginning to state their connection with blockchain today, are trying to take advantage of the hype, ” said Li Shiyu, fund manager at Guangdong Xiaoyu Investment Management Co. “It shows how much excitement can be triggered by something stressed as a priority by the top man himself.”

The Shenzhen Information Technology Index closed 5.3% higher yesterday, its biggest advance in eight months.

Hundsun Technologies Inc, Easysight Supply Chain Management Co, YGSOFT Inc and dozens more companies with officially registered blockchain businesses rose by the 10% limit.

In Hong Kong, traders singled out Meitu due to its plans for an encrypted user-identification system.

The shares surged as much as 30%. Pantronics Holdings Ltd - which earlier this month said it will change its name to “Huobi Technology”, a reference to a digital currency exchange - rallied as much as 67%.

American depositary receipts of Chinese blockchain companies also surged last Friday.

Investors pressured other firms to jump on the blockchain hype, using an online Q&A platform to submit thousands of questions on their plans to use the technology.

“Please proactively make expansion plans in blockchain to jump on state policies - doing so would be the best reward to investors, ” urged one shareholder of development-store operator Hunan Friendship & Apollo Commercial Co. — Bloomberg

Source link

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