Money Changing – The Disruptors – BBC News

Source: Money Changing – The Disruptors – BBC News

Everything we knew about money is up for grabs. So will we end up smiling?

Who controls currency – governments or networks of computers? Who controls our payments – technology companies, payment card providers, or banks?

Arguably most importantly of all, who controls all the data about our financial transactions – you or them?

The future of banking is within software companies. It’s not going to be your traditional banks. It is who owns the data and who owns the experience.

— Barney Hussey-Yeo
founder and chief executive of Cleo AI

But who can you trust? Consumers will be bombarded with confusing marketing, they will quickly give away and lose control of their personal information, and only the tech-savvy will benefit, according to Mick McAteer, of the UK’s Financial Inclusion Centre.

Instead, there is a danger, he says, of these consumers being exploited, either through businesses offering a new form of expensive payday loan, or abuse of data alongside other personal information revealed on social media and elsewhere by unscrupulous individuals.

The Western Elite from a Chinese Perspective – American Affairs Journal

Source: The Western Elite from a Chinese Perspective – American Affairs Journal

RE: Robert Rubin’s autobiography In an Uncertain World (Random House, 2003)

I find that maybe randomness is not merely the noise but the dominant factor. And those reasons we assign to historical events are often just ex post rationalizations.

What I realized is that if we look at one individual’s life in isolation, it is very tempting to come to the conclusion that one’s particular actions lead to whatever happens next. But if we look at the society as a whole or look across generations, we can see that people with very similar backgrounds can take similar actions and end up with vastly different results.

This brings me back to the title of Rubin’s book, his “uncertain world.” In such a world, the vast majority things are outside our control, determined by God or luck. After we have given our best and once the final card is drawn, we should neither become too excited by what we have achieved nor too depressed by what we failed to achieve. We should simply acknowledge the result and move on. Maybe this is the key to a happy life.

Paul 🌹📚 Cooper on Twitter

Photo of the Temple of Olympian Zeus, with Christian stylite hut atop the ruins, taken in 1858.
1858 photo by Dimitris Konstantinou

 

“View of Athens from the river Ilissos” by Johann Michael Wittmer, 1833

It turns out that Christian ascetics known as stylites, or “pillar saints” are the explanation.

After Greek independence from the Ottoman Empire, efforts were made in the 19th century to strengthen the national identity by harking back to the greatness of the Hellenic past. So in the eyes of the Greek authorities, this Christian addition had to go.

When is a ruin “finished”?
Who does the ruin belong to?
Can a ruin be ruined?

Modern Media Is a DoS Attack on Your Free Will

Source: Modern Media Is a DoS Attack on Your Free Will, by Brian Gallagher on Nautilus
interviewing James Williams – doctoral candidate at the Oxford Internet Institute’s Digital Ethics Lab

Democracy assumes a set of capacities: the capacity for deliberation, understanding different ideas, reasoned discourse. This grounds government authority, the will of the people. … Fake news is part of this, but it’s more about people having a totally different sense of reality, even within the same society or on the same street. It really makes it hard to achieve that common sense of what’s at stake that is necessary for an effective democracy.

Back in an information-scarce environment, the role of a newspaper was to bring you information—your problem was lacking it. … The role of the newspaper now is to filter, and help you pay attention to, the things that matter. … When information becomes abundant, attention becomes scarce.

Today, for technology, like an app, to reach 150 million users, it could be a matter of days. I think what happens is that we never actually get to that place of stability and mastery of technology. We’re always in this learning curve of incompetence. We can use it well enough, but not so well that we can master it before the next thing comes along.

I don’t think personal responsibility is unimportant. I think it’s untenable as a solution to this problem. Even people who write about these issues day to day, even me—and I worked at Google for 10 years—need to remember the sheer volume and scale of resources that are going into getting us to look at one thing over another, click on one thing over another. This industry employs some of the smartest people, thousands of Ph.D. designers, statisticians, engineers. They go to work every day to get us to do this one thing, to undermine our willpower. It’s not realistic to say you need to have more willpower. That’s the very thing being undermined!

If a GPS distracted us in physical space in the ways that other technologies distract us in informational space, no one would keep using that GPS.