Archive for the ‘Decentralization’ Category

SALTO Systems Adds Area Leaders for Three Regions in North … – Security Sales & Integration

We believe this approach will lead to a more customer-centric organization, resulting in greater customer satisfaction and loyalty, says SALTO North America President Bill Wood.

NORCROSS, Ga. SALTO Systems has announced the appointment of three new area leaders for the West, Southeast, and Northeast regions of North America. The move comes as part of the organizations decentralization initiative to enhance customer service, foster a culture of learning, and ensure sustainable growth.

Im proud that our team and organization has grown and achieved the ability to begin to realize this decentralized vision. Many within our team have been working hard behind the scenes to arrive at this moment, says SALTO North America President Bill Wood. Decentralizing our organization allows us to get closer to our customers and better understand their needs. By moving decision-making closer to the customer, we can respond more quickly to their needs, improve our service offerings, and ensure that we are meeting their expectations.

We believe this approach will lead to a more customer-centric organization, resulting in greater customer satisfaction and loyalty, and will help us attract and retain top talent, enhance our organizational capabilities, and drive innovation, Wood continues.

Joe Buist has been named area leader for SALTO West. Buist, who has been in the security industry for nearly two decades, has worked for SALTO for 11 years in a variety of technology and sales roles and most recently served as senior regional sales manager for the West. Prior to joining SALTO, Buist served as a loss prevention director for the Waldorf Astoria Hotel, account executive for Integra Telecom, and area loss prevention manager for Harmons Grocery.

The quality and innovation that SALTO puts into developing electronic locks and access control solutions are what drew me to the company over 10 years ago. Im grateful to have worked in many areas for SALTO and know that my extensive experience at many levels will help in this new opportunity to lead the West in connecting with and servicing our valued partners and customers, says Buist.

Steve Burk is the area leader for SALTO Southeast. Burk most recently served SALTO as director of marketing and industries. Before joining SALTO four years ago, his career included marketing and sales leadership with Delta Material Services, Avaya, Inc., and IBM Corporation. His specialties include leading direct and channel marketing, strategic planning, operational effectiveness, channel sales, and key vendor relations.

Having successfully directed multi-faceted assignments and assumed key roles in the development of high-visibility, high-impact projects, I look forward to leading the Southeast area team and working with David and Joe. Together, with our customer-first philosophy, we will deliver unparalleled customer value, says Burk.

David Latreille is the area leader for SALTO Northeast. He most recently served SALTO as international program manager, delivering complex programs to SALTOs largest clients around the world. An end user advocate and disciplined agile evangelist, he says he looks forward to sharing the experiences of the last five years at SALTO with his team and their customers.

As a people-over-process leader, Im honored to be given the opportunity to work with such an amazing group of individuals here at SALTO. We recognize that every single employees contribution is essential to our success, and I look forward to playing my part in our evolution, says Latreille.

Were thrilled to welcome Joe, Steve, and David to their new roles. With their extensive industry knowledge, experience, and leadership, they will be instrumental in driving SALTO s decentralized approach, delivering unparalleled customer value, and ensuring sustainable growth, says Wood.

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SALTO Systems Adds Area Leaders for Three Regions in North ... - Security Sales & Integration

Treasury Risk Assessment Emphasizes That Decentralized Crypto … – JD Supra

Earlier this month, the U.S. Department of the Treasury (Treasury) released itsIllicit Finance Risk Assessmentof Decentralized Finance (Assessment). This Assessment, part of a broad regulatory scrutiny of entities that operate in the Decentralized Finance (DeFi) space (see the explanation below), focuses on the illicit finance risks associated with virtual assets.

While the assessment discusses how bad actors are taking advantage of weak points in anti-money laundering (AML) and other regulatory regimes across the world, we want to highlight the assessments findings that DeFi companies are often failing in meeting their obligations to address sanctions and money laundering risks. As weve highlighted over the past year, financial institutions of all kinds, from traditional banks and broker dealers to newer crypto and web3 companies are facing increased regulatory scrutiny (for example, see Wilson Sonsinis past alerts onCoinbase,TornadoCash, andKraken). This Assessment serves as a reminder, especially for DeFi financial institutions, that regulators will continue enforcement against AML infractions.

The first-of-its-kind risk assessment alleges that DeFi service providers often fail to institute robust AML compliance programs. This, according to the Assessment, can make DeFi services vulnerable to exploitation by illicit actors. To curb the use of DeFi services for criminal activity, Treasurys Assessment recommends that the U.S. government strengthen AML regulatory supervision, consider potential enhancements to the existing regulatory regime, and better engage with the private sector to stay up to date on the latest developments in the DeFi ecosystem.

De-What?

While there is no universally accepted definition of DeFi services, the term is generally used to describe virtual currency protocols and services that offer some form of automated peer-to-peer exchange transactions. Such transactions are often executed using smart contracts or computer code. DeFi companies can operate, at least to some extent, without the support of a central company, group, or person, though Treasury clarifies that the degree to which a purported Defi service is in reality decentralized is a matter of facts and circumstances. Examples include cryptocurrency exchanges and decentralized liquidity platforms, where lenders and borrowers are incentivized to rely on a particular service.

Decentralization May Not Mean No Regulatory Scrutiny

Treasurys Assessment clarifies that just because a virtual currency business claims to be decentralized does not necessarily mean the business wouldnt be considered a financial institution under the Bank Secrecy Act, the legislative underpinning for AML regulations. Likewise, the declaration that a service is decentralized cannot be used to abdicate responsibility for compliance with sanctions programs administered by the Office of Foreign Assets Control (OFAC).

The Assessment notes that when entities whose operations are subject to regulation (e.g., money transmitters) fail to register with regulators or fall short of their AML obligations, bad actors are more likely to take advantage of their services to either profit from their criminal activity or circumvent law enforcement.

Weve Said It Before and Well Say It Again: Increasing Trend of Regulatory Enforcement

The Assessment is part of a larger trend: regulators are increasingly concerned about the illicit use of crypto assets and will aggressively scrutinize crypto asset businesses. Even businesses with some degree of decentralization are not exempt from this scrutiny.

We have already discussed, for example, how crypto asset exchangeCoinbaseand its $50 million settlement with the New York Department of Financial Services after it failed to track, monitor, and report suspicious activity that may have, and in some cases did, result in illicit activity. Further, decentralized crypto asset mixerTornadoCashwas penalized by OFAC in August 2022 because, according to OFAC, TornadoCashs weak AML program allowed users to launder over $7 billion. On the same day, a top employee at BitMEX was found guilty of violating AML regulations issued pursuant to the Bank Secrecy Act, demonstrating that individuals, and not just crypto asset companies themselves, can be held liable for such violations. Crypto asset exchangesKrakenandBittrexboth settled with federal regulators in 2022 because of alleged sanctions and AML violations.

The Treasurys Assessment separately notes that the Commodity Futures Trading Commission has even brought anactionagainst a decentralized autonomous organization (DAO) for failing to comply with KYC/AML requirements. The U.S. District Court for the Northern District of Californiaheldthat the DAO could be sued as an unincorporated association under applicable law, demonstrating how decentralization does not make crypto services enforcement-proof. Regulators are unlikely to take their eyes off DeFi crypto asset businesses anytime soon, making proper compliance programs more important than ever.

My Company Works in DeFi: What Should I Do?

First and foremost, companies operating in the DeFi space should perform an analysis to determine if they should register with any federal (and/or state) regulatory bodies (e.g., FinCEN). Just as in the TV series The Office, when the character Michael Scott found that declaring bankruptcy required a bit more legwork than making that statement in a public place (even loudly), DeFi companies (and their employees) should not assume that simply telling partners and customers they are decentralized will shield them from their regulatory responsibilities.

Additionally, maintaining an effective AML and sanctions compliance program is crucial to avoiding missteps that could expose DeFi companies to significant penalties. DeFi companies that dont have such compliance programs in place should consider whether they are required to have one, what it should include, and how should it be resourced.

Lastly, Treasurys Assessment includes an acknowledgment that the government is behind in understanding DeFi, and Treasury recommends additional engagement with industry to get up to speed. This engagement may come through public comment and research opportunities. DeFi businesses should pay close attention to these opportunities to ensure they are helping shape the governments understanding of this evolving and innovative space.

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Treasury Risk Assessment Emphasizes That Decentralized Crypto ... - JD Supra

Empowering local governments to improve access to clean water, sanitation, hygiene – Businessday

Access to clean water, sanitation, and hygiene is essential for human health and well-being. The Sustainable Development Goal (SDG) 6 is about clean water and sanitation for all. However, in many developing countries, these necessities remain out of reach for a significant portion of the population, particularly those living in suburban and rural areas. The popular thinking is that local governments can play a critical role in scaling up interventions to improve access to water, sanitation, and hygiene.

Take Nigeria. It is easily the most populous country in Africa with a rapidly growing population that is expected to reach 400 million by 2050. Despite its vast natural resources, including water, Nigeria faces significant challenges in providing access to clean water, sanitation, and hygiene. According to the World Health Organisation (WHO), only 29 per cent of Nigerians have access to basic sanitation facilities, and only 63 per cent have access to basic water services.

The local government is Nigerias third tier of government. It consists of 774 units located across the thirty-six states of the federation. Local governments are typically responsible for a range of vital services for people and businesses in defined areas.

Empowering the local government is key to addressing these and other basic everyday challenges. Across the world, local governments are responsible for providing basic services, including water and sanitation, to their communities. They are, however, often hampered by a lack of resources, capacity, and technical expertise to effectively implement interventions to improve access to these services. To overcome these challenges, several strategies can be implemented to empower the local government:

Capacity building: One of the most critical strategies for empowering the local government is to build its capacity to implement water, sanitation, and hygiene interventions effectively. This can be achieved through training programs, workshops, and other capacity-building initiatives that provide local government officials with the knowledge and skills they need to plan, implement, and monitor these interventions.

Partnerships: Partnerships with NGOs, private sector organisations, and other stakeholders can provide local governments with the resources and technical expertise they need to implement water, sanitation, and hygiene interventions. These partnerships can also help to mobilize resources and raise awareness about the importance of improving access to these services.

Decentralization: Decentralization of water and sanitation services to the local government can enhance the accountability and responsiveness of local governments to their communities. Decentralization can also provide local governments with greater control over the allocation of resources, enabling them to prioritize interventions that are most needed in their communities.

Use of technology: The use of technology can help to improve the efficiency and effectiveness of water, sanitation, and hygiene interventions. For example, mobile technology can be used to collect data on water sources and sanitation facilities, monitor water quality, and track the implementation of interventions.

Community participation: Community participation is critical to the success of water, sanitation, and hygiene interventions. Local governments can empower communities by involving them in the planning and implementation of interventions, as well as in monitoring and evaluation.

Read also:Access to safe water is essential for improving health, reducing poverty, and promoting sustainable development

This is the core of the matter, transforming the operations of local governments in Nigeria will require a significant investment of resources. The exact amount required will depend on several factors, including the size and population of each local government, the specific interventions needed, and the level of capacity and resources currently available to local governments.

Experts foresee that it would require consistent investment over the next 10 years, at the minimum, to make any dent. To start, we must have full autonomy for local governments in the country. Local government autonomy refers to the degree to which local governments have the power to make decisions and manage their affairs independently of the state or federal government. In Nigeria, local governments have limited autonomy, which has led to a range of issues and challenges. The biggest problem here is that of access to funds.

Empowering the local government is key to truly transforming the nation. As local governments are able to scale up water access, sanitation, and hygiene interventions, they will contribute directly to improving the quality of life of citizens. By building the capacity of local governments, fostering partnerships, decentralizing services, utilizing technology, and promoting community participation, we can improve access to these necessities and promote health and well-being for all. Local government autonomy is the ideal starting point.

Eromosele, a corporate communication professional and public affairs analyst lives in Lagos.

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Empowering local governments to improve access to clean water, sanitation, hygiene - Businessday

Where is the fiscal space for children? – UNICEF

Highlights

Countries in Asia and the Pacific have been affected by compounded external shocks such as COVID 19 and the Russian invasion of Ukraine. They are experiencing continuous pressures on the social sector budgets which in turn affect maintaining the achievements for childrens outcomes gained over the past decades. This report presents trends, challenges and opportunities related to public sector allocations for the sectors of health, education and social assistance for 21 countries across Asia and the Pacific (12 in East Asia, 4 in South Asia, and 5 in the Pacific). By using international and regional minimum allocations benchmarks, the report identifies gaps in social sector allocations for the period 2017 2021, marking out the fact that gaps in social sector allocations have existed before the start and during COVID-19, with focus on the fiscal responses during COVID in terms of size and sustainability. Transparency, credibility, decentralization, and equity of the sector budgets further complement the trends analysis, with conclusions and possible considerations for efficiency and effective gains in fiscal space, better prioritization and strategic policy directions.

Note: The report is prepared and funded under the EU-UNICEF Public Finance Facility in South and Southeast Asia.

Publication date

April 2023

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Where is the fiscal space for children? - UNICEF

A16zs hyped-up orange balls revealed to be an L2 rollup client – Cointelegraph

A series of cryptic tweets depicting orange balls were revealed to be building up hype for a new rollup client for Optimism (OP) called Magi from the crypto arm of venture capital firm Andreessen Horowitz (A16z).

An April 19 Tweet from a16z engineer Noah Citron explained Magi is written in the programming language Rust and will help improve the client diversity and resilience of the entire OP Stack ecosystem.

The OP Stack refers to the set of software that powers the Ethereum layer-2 solution Optimism. Among the other benefits it provides, it helps simplify the process of creating layer-2 blockchains.

Citron explained Magi takes the place of a consensus client (often called rollup client) in the OP Stack, and works alongside an execution client such as op-geth to sync, meaning that it allows the Ethereum chain to advance by feeding new blocks to the execution client.

The lead engineer for Coinbases layer-2 solution Base, Jesse Pollak, also chimed in on the announcement, tweeting that magi means more decentralization, security, and scale for the OP Stack.

In an April 19 blog post, Citron opined that decentralization increases network security, which is critically important for rollups just as it is for the base layer of Ethereum.

A16zs cryptic hype orange circle tweets echoed the way Coinbase hyped and introduced its own layering network called Base, which instead featured tweets of a blue circle.

Related: US share of global crypto developers fell 26% in 5 years a16z

Citron kicked off the hype train with a tweet of an orange circle on April 18 bearing the phrase coming soon.

Its similarity to the hype before the announcement of Base prompted the crypto community to theorize another Ethereum layer-2 solution was imminent before a16zs chief technology officer, Eddy Lazzarin, quashed the rumors.

Citron also noted that Magi is still currently in development, and while it can currently sync to the Optimism testnet it will be some months before it is production-ready.

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A16zs hyped-up orange balls revealed to be an L2 rollup client - Cointelegraph