Facebook to unveil new cryptocurrency

Agencies
June 17, 2019

London, Jun 17: Facebook is set Tuesday to unveil a bid to bring cryptocurrency payments into the mainstream, reportedly with the endorsement of governments and financial giants.

The world's biggest social network is expected to outline details of a virtual currency launching next year that it hopes will avoid the rollercoaster volatility of "blockchain" technologies such as bitcoin.

Facebook is setting up a consortium called "Libra" which, according to the Wall Street Journal, has been joined by more than a dozen companies including Visa, Mastercard, PayPal and Uber.

The companies along with venture capitalists and telecommunications firms will reportedly invest around USD 10 million each into the consortium.

Facebook has been trying to ward off hostile regulatory scrutiny after a series of privacy abuses and the spread of fake news.

The consortium will be managed externally and will seek to build trust among consumers by pegging the virtual coin to a basket of currencies including the dollar and euro, the Journal said.

Facebook has already sought blessings from the US Treasury and the Bank of England, the BBC reported last month.

Regulators have been reticent about cryptocurrencies, not only due to potential abuse by criminals but the wild swings in their value harming consumers.

With more than two billion users across its platforms, which include WhatsApp and Instagram, Facebook could have the clout to bring cryptocurrency out of the fringes and emulate the likes of WeChat in China, where the US site is banned.

WeChat allows its users to chat, shop and play games without leaving its platform, generating more revenue by offering a one-stop portal.

Buffeted by the privacy storms, chief executive Mark Zuckerberg has promised a new direction for Facebook built around smaller groups, private messaging and payments.

But it will need to overcome questions of trust and privacy, not least over how financial data will be stored. Some analysts are betting that the heavyweight Libra consortium will help to do that.

Facebook's crypto initiative could facilitate shopping, applications and gaming, and would leverage its broad user base in Asia, RBC analyst Mark Mahaney said in a research note last week.

It "may prove to be one of the most important initiatives in the history of the company to unlock new engagement and revenue streams", he wrote.

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Agencies
May 17,2020

As millions of people get hooked to online dating platforms, their proliferation has led to online romance scams becoming a modern form of fraud that have spread in several societies along with the development of social media like Facebook Dating, warn researchers.

For example, extra-marital dating app Gleeden has crossed 10 lakh users in India in COVID-19 times while dating apps like Tinder and Bumble have gained immense popularity.

According to researchers from University of Siena and Scotte University Hospital led by Dr Andrea Pozza, via a fictitious Internet profile, the scammer develops a romantic relationship with the victim for 6-8 months, building a deep emotional bond to extort economic resources in a manipulative dynamic.

"There are two notable features: on the one hand, the double trauma of losing money and a relationship, on the other, the victim's shame upon discovery of the scam, an aspect that might lead to underestimation of the number of cases," the authors wrote in a paper published in the journal Clinical Practice & Epidemiology in Mental Health.

Around 1,400 dating sites/chats have been created over the last decade in North America alone. In the UK, 23 per cent of Internet users have met someone online with whom they had a romantic relationship for a certain period and even 6 per cent of married couples met through the web.

"The online dating industry has given rise to new forms of pathologies and crime, said the authors.

The results showed that 63 per cent of social media users and 3 per cent of the general population reported having been a victim at least once.

Women, middle-aged people, and individuals with higher tendencies to anxiety, romantic idealization of affective relations, impulsiveness and susceptibility to relational addiction are at higher risk of being victims of the scam.

Online romance scams are, in other words, relationships constructed through websites for the purpose of deceiving unsuspecting victims in order to extort money from them.

The scammer always acts empathetically and attempts to create the impression in the victim that the two are perfectly synced in their shared view of life.

"The declarations of the scammer become increasingly affectionate and according to some authors, a declaration of love is made within two weeks from initial contact," the study elaborated.

After this hookup phase, the scammer starts talking about the possibility of actually meeting up, which will be postponed several times due to apparently urgent problems or desperate situations such as accidents, deaths, surgeries or sudden hospitalizations for which the unwitting victim will be manipulated into sending money to cover the momentary emergency.

Using the strategy of "testing-the-water", the scammer asks the victim for small gifts, usually to ensure the continuance of the relationship, such as a webcam, which, if successful, leads to increasingly expensive gifts up to large sums of money.

When the money arrives from the victim, the scammer proposes a new encounter.

The request for money can also be made to cover the travel costs involved in the illusory meeting. In this phase, the victim may start having second thoughts or showing doubt about the intentions of the partner and gradually decide to break off the relationship.

"In other cases, the fraudulent relationship continues or even reinforces itself as the victim, under the influence of ambivalent emotions of ardor and fear of abandonment and deception, denies or rationalizes doubts to manage their feelings," said the study.

In some cases, the scammer may ask the victim to send intimate body photos that will be used as a sort of implicit blackmail to further bind the victim to the scammer.

Once the scam is discovered, the emotional reaction of the victim may go through various phases: feelings of shock, anger or shame, the perception of having been emotionally violated (a kind of emotional rape), loss of trust in people, a sensation of disgust towards oneself or the perpetrator of the crime and a feeling of mourning.

"Understanding the psychological characteristics of victims and scammers will allow at-risk personality profiles to be identified and prevention strategies to be developed," the authors suggested.

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Agencies
June 29,2020

New Delhi, Jun 29: Witnessing azure skies and breathable air for the last three months, Delhi on Monday recorded deterioration in its air quality, with particulate matter with diameter of 2.5 and 10 microns -- too small to be filtered out of the human body -- standing at 52 and 297 micrograms per cubic respectively.

Gufran Beig, Project Director of System of Air Quality Weather Forecasting and Research (SAFAR), said that the sudden spike in air pollution is due to a mild dust storm blowing from Rajasthan.

"Since the wind direction is changing and moist air is coming in, the air quality in Delhi will become better by tomorrow," Beig told IANS.

Central Pollution Control Board (CPCB) data showed that the overall air quality near Delhi Technical University (DTU) area stood at 326 micrograms per cubic, followed by 308 at Narela and 307 at Mundka.

Out of 36 stations, the AQI in as many as 30 stations was above 200 micrograms per cubic till 1 pm on Monday.

The System of Air Quality Weather Forecasting and Research categorises air quality in the 0-50 range as good, 51-100 as satisfactory, 101-200 as moderate, 201-300 as poor, 301-400 as very poor, and above 400 as severe.

According to SAFAR's website, "PM 10 (coarser dust particle) is the lead pollutant. AQI is likely to improve to moderate category by tomorrow, and further improvement is expected by July 1."

Researchers indicated that PM 10 and PM 2.5 will be 170 and 47 micrograms per cubic on Tuesday.

With no vehicles plying on the roads or industries shut due to the lockdown since March 25, Delhi's air quality had improved drastically.

According to a study conducted by the Indian Institute of Technology (IIT), Delhi, if the low levels of air pollution reached during the lockdown period are maintained, India's annual death toll could reduce by 6.5 lakh.

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Agencies
January 4,2020

Washington D.C: One of the greatest spectacles of modern art is still thriving in the Australian outback as confirmed by satellite imagery of NASA. The Marree Man is a massive geoglyph depicting an aboriginal hunter, that spans over 2.6 miles in the Southern Australian region.

Discovered by a pilot in 1998, its origin still remains a mystery even to this date.

The Marree Man was given a new lease of life in 2016 when a group of people from the neighboring town of Marree plowed its lines to avert its fading due to erosion.

After NASA shared the image of the art-work that was taken in June, the efforts of the good samaritans turned out to be a total success, reported CNN Travel.

The restoration team believes that the refurbished Marree Man would last longer than its original version.

According to NASA, "They [the team] created wind grooves, designed to trap water and encourage the growth of vegetation. They hope that eventually, the man will turn green."

In a previous article, CNN reported that an entrepreneur by the name of Dick Smith took upon himself to unravel the geoglyph's mystery in 2016. His team combed through all the available evidence but couldn't find anything conclusive.

In 2018 he even offered a 5,000 Australian dollar reward for anyone who knows the identity of its creator.

Nobody turned up with an answer but it was speculated that unknown artist lives in Alice Springs or even might be an American.

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