Archive for the ‘Decentralization’ Category

Cultural affairs agency moves only some of its offices to Kyoto | The … –

In a move long planned, the Agency for Cultural Affairs has relocated half its divisions from Tokyo to Kyoto as part of the effort to decentralize the government and empower local communities.

The relocation is the largest move ever of administrative functions out of Tokyo and the result of a plan originally made in 2016 to move government organizations out of the capital.

The relocation marks a fresh start for the agency and gives Kyoto a key role in supporting arts and culture, Prime Minister Fumio Kishida said on March 26 atthe new offices opening ceremony in the ancient capital.

Kyoto representatives lobbied hard for the agency to move there, saying that given the citys history, it can support the nations cultural heritage.

The relocation of central government ministries and agencies is something that has never been done in the past, said Shigeru Ishiba, then minister in charge of revitalizing local economies, in 2016 to emphasize the significance of the move.

However, the governments decentralization initiative, meant to revitalize regional economies, has seen only limited success so far.

Only three government organizations have moved their offices from Tokyo to elsewhere and only partly.

For example, while the Agency for Cultural Affairs six divisions (with about 390 officials) relocated to Kyoto, the other seven (withabout200 members) remain in the capital.

The original plan from 2016 said the entire agency would be relocated.

The Kyoto divisions include those in charge of religious matters and cultural properties, including those on the UNESCO World Heritage list.

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Cultural affairs agency moves only some of its offices to Kyoto | The ... -

Video Quick Take: Medidata’s Anthony Costello on the Value of … – HBR.org Daily

Todd Pruzan, HBR

Welcome to the HBR Video Quick Take. Im Todd Pruzan, senior editor for Research and Special Projects at Harvard Business Review. A decentralized clinical trial, or DCT, is a method of conducting clinical trials in which part or all of the trial happens outside a traditional physical clinic or trial site.

This removes barriers to participation, enabling more patients to participate in research. And it enhances the overall trial experience for everyone. Anthony Costello is CEO of Patient Cloud at Dassault Systemes.

In this role, he leads the development of Medidatas patient-facing activities and solutions, including decentralized trials, technology, and strategy, and Patient Cloud, Dassault Systemes Product Apps, MyMedidata Patient Portal, Disease Registries and Recruitment, Telehealth and Virtual Visits, and Sensor Cloud and Biomarker Discovery. Hes here today to talk to us about the rising adoption rate of DCTs and how these solutions affect research. Anthony, thank you for joining us.

Anthony Costello, Medidata

Thanks so much for having me, Todd.

Todd Pruzan, HBR

Anthony, what do decentralized trials and the use of new technology mean for patients, for pharmaceutical companies, for doctors?

Anthony Costello, Medidata

Were in such an interesting time in the history of clinical trials and research. If you think about the way trials have been done traditionally, theyre very heavily centralized, meaning patients travel to a research center, often many times per month for months and months during a clinical trial. So what we mean when we say trials are now being decentralized is that the research is moving outside these central research sites and more into the patients real lives.

And the reason this is so important for the industry is if you think about the way research gets done and then new drugs get commercialized into the market, patients use these products in their real lives, in the real world, obviously, not in a method thats centralized around a research center, but in their day-to-day lives. So were trying to move the industry and the research part of discovery into the real world where these drugs will actually be used after theyre commercialized.

So its a critical moment for the way research gets done, the pace of research, the ease of research for patients, the quality and quantity of data that were capturingall things that are much easier to get or to achieve in a decentralized model.

Todd Pruzan, HBR

OK, so pharmaceutical companies, what do they need to be thinking about when theyre considering a DCT model for research?

Anthony Costello, Medidata

This has been the real challenge for our industry. We have a conservative pharmaceutical research industry very largely based on regulation, paper processes, paper data capture, paper consent signatures, and so on. And a lot of what weve done over the past few years, as an industry, is weve begun to embrace and leverage the natural curves in the world of technology.

Patients have more technology in their hands. Theyre more accustomed to using it. Theyre more trusting of providing information and receiving information through digital devices. Most patients carry some device with them in their pocket all day every day thats perfectly suitable for research.

So the kind of hump to get over has been, will pharma decide to use these capabilities and thislets call it this new digital eraas a way to conduct the research that maybe we formerly would have done on paper or through a much more cumbersome process? So you take the idea that we want to decentralize outside of a site setting, then you add in that we have the technology. The patients have the technology. Theyre comfortable with it. We can scale it. Its affordableall of these things that you couldnt say 10 years ago or maybe even five years ago in some cases.

You start to layer in things like wearable sensors that are getting easier to use, better battery lives, smarter, faster, better-quality data. You put it all together. And were in this perfect storm in the industry right now to hyper-accelerate research across all different types of disease indications.

We saw a little bit of this during COVID. Maybe Ill call it kind of a foreshadowing of where our whole industry tries to go now. Because of a global pandemic, there was a lot of kind of consolidation around lets do this faster. Lets have more outreach to patients. Lets decentralize.

Now youre seeing that become the new normal, the trend. And everyones looking for ways to kind of leverage this perfect storm, if you will, as a way to change the way all clinical trials work into the future. And if we do it right, what well be doing is going from a world where we try to expose as few patients as possible to an experimental product, which, obviously, we always want to do that. But we want to expose the right patients.

We want to do it in a way thats not too burdensome for them. And we want to make sure that when that drug gets approved and hits the market and millions of people take it, that weve done the research in as close a setting as we possibly can to the kind of real-world commercial setting where those people will use that product.

Todd Pruzan, HBR

That sounds great. So how does a patient participate in a DCT?

Anthony Costello, Medidata

Interestingly, I would say patients dont get to choose DCTs as much as DCTs choose them. And its because if youre a patient, you enroll in a study many times because you have no other health care option for your particular disease. And sadly, for many patients, the clinical research may be the last option that they have after trying everything else for whatever condition they have.

So a patient will choose a study out of necessity in a lot of cases. And hopefully, what were aspiring to support in this industry and what were working with our customers to try to achieve is more optionality for that patient on that study to be able to use these technologies in their real-world setting.

Patient burden is a huge problem. In our industry, sticking on these trials for a year, a year and a half, is burdensome. Going back and forth to study centers all the time is very burdensome. We lose a lot of patients.

And frankly, we have a lot of patients who qualify for the study. They need the study. They have the right set of criteria, inclusion criteria, for that study, but they simply cant participate due to lack of geographical proximity to some study center thats running that trial.

So decentralizationif youre a patient on a study that happens to be decentralized, youre much more likely to stay with that study throughout, to be able to participate in that study regardless of where you live, and then, as I said earlier, to be able to provide real-world data from your day-to-day activities that are critical to the pharmaceutical company really understanding how their drug is going to work when it hits markets.

So its a hard choice to make for our customers. It is a challenge to decentralize a clinical program that you have formerly run entirely at research centers. But if you do it, theres a huge upside, both for patients and for the speed and accuracy of the research. And were expecting that both of those things are going to cause a forever trend of decentralization and in clinical trials.

Todd Pruzan, HBR

Thats great. It sounds like a very promising set of developments. Anthony, thank you so much for being with us today. This is fascinating.

Anthony Costello, Medidata

Thanks again for having me. Its been fun, and I appreciate it.

Learn more about Medidata and decentralized clinical trials.

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Video Quick Take: Medidata's Anthony Costello on the Value of ... - HBR.org Daily

Tether CTO on USDC depeg: Bitcoin maxis were right all along | PBW 2023 – Cointelegraph

At Paris Blockchain Week 2023, Tether chief technology officer Paolo Ardoino spoke with Cointelegraph reporter Joseph Hall to discuss topics such as USD Coin (USDC) breaking its dollar peg and how it highlights the importance of Bitcoin (BTC) and decentralization.

According to Ardoino, stablecoin issuers should always make sure that their reserves remain protected. The Tether executive believes that a stablecoin issuers job is to protect reserves and funds with all its capabilities. Ardoino explained:

In addition, the Tether executive explained that he thought that overexposure in a single jurisdiction, which in this case would be the United States, could cause great issues. In the end, this is what happened, said Ardoino. He added:

When asked what he thought about USDC potentially going to zero, Ardoino pointed out that his firm was not hoping for this to happen. He said that if Tether (USDT) remained the only stablecoin in the market, the industry would not be an industry. If you are alone in the industry, its not really an industry, he said.

Related: Rattled crypto industry could emerge stronger after USDC depeg

Apart from the USDC incident, the duo also discussed other issues such as the dollar being a store of value and Bitcoin payments adoption in Lugano, Switzerland. When asked if the U.S. dollar can still be considered a store of value, Ardoino said that this could be the case in some countries. However, the Tether CTO expressed that in terms of storing wealth, Bitcoin is still the best. He said:

Lastly, the Tether executive also spoke about his firms collaboration with American clothing brand Guess to bring Bitcoin and Tether payments to retail stores in Lugano. Plan B, which is a joint project between Tether and the City of Lugano, collaborated with Guess to accept Bitcoin and Tether in local stores.

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Tether CTO on USDC depeg: Bitcoin maxis were right all along | PBW 2023 - Cointelegraph

First Mover Asia: Chinas State-Owned Banks Are Soliciting Hong Kong Crypto Business, but Opening an Account Is Hard – Yahoo Finance

Join the most important conversation in crypto and web3! Secure your seat today

Good morning. Heres whats happening:

Prices: Bitcoin is hovering around $27,000 after the CFTC takes action against Binance.

Insights: The Hong Kong branches of China's state-run banks want crypto. Now for the hard part.

CoinDesk Market Index (CMI)

1,163

34.4 2.9%

Bitcoin (BTC)

$26,958

1062.0 3.8%

Ethereum (ETH)

$1,709

71.7 4.0%

S&P 500

3,977.53

+6.5 0.2%

Gold

$1,960

22.3 1.1%

Nikkei 225

27,476.87

+91.6 0.3%

BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)

It's the CFTC vs. liquidity

Good morning. Bitcoin is starting the Asia business day down 3.8% to $26,958 after the U.S. Commodity Futures Trading Commission (CFTC) sued crypto exchange Binance and founder Changpeng Zhao, alleging it offered unregistered crypto derivatives in the U.S.

Binances BNB token is down 5.9% to $308 on the allegations.

The question on the traders' minds is how much of a going concern Binance is now that the CFTC has struck this blow. On the one hand, Binances CEO called the CFTC complaint unexpected and disappointing, yet, in February, the exchange said it is prepared to pay monetary penalties to make amends for sins of the past.

At the same time, there is some debate about how much traders are shrugging off the CFTCs allegations versus how much bitcoin has an ability to react to news because of a lack of liquidity.

When you have low liquidity, you tend to get very quiet markets, Dan Gunsberg, co-founder of Solana-based derivatives liquidity protocol Hxro, said during a recent CoinDesk TV appearance. You get these jumps in the market and these liquidity vacuums, where things move to a new price and immediately settle down again.

At the same time as the CFTC goes after Binance, the decentralization narrative continues.

Decentralized derivatives exchange GMX saw its token rise by 4% during the last 24 hours, almost in parallel to how tokens of decentralized ether liquid staking platforms rose in February when the SEC took aim at staking.

Story continues

But just because something is decentralized, doesnt mean regulators cant go after it.

China Banks' Push for Hong Kong Crypto Business Faces Headwinds

Chinas state-owned banks Hong Kong branches semi-autonomous entities that operate under Hong Kong's rules are actively soliciting crypto business, in anticipation of the first phase of the Special Administrative Region's regulatory framework in June. But opening an account with them is another thing altogether.

Bloomberg reported Monday that the banks making the pitches have gotten the green light from Beijing, and their respective headquarters.

Sources from multiple crypto companies in Hong Kong that had either been pitched by the banks sales representatives, or made inbound inquiries, all say that the criteria for opening an account is burdensome and the KYC/AML process is longer than opening a regular business account.

For instance, banks prefer that executives and key personnel at the crypto company reside in Hong Kong. A definite blocker would be if they are mainland Chinese nationals or U.S. citizens. If the company is owned by a Singapore-based parent, that firm would need to be a licensed entity by the Monetary Authority of Singapore.

Sources were also told to expect a long account-opening process.

Is it really progress?

These banks, such as Bank of China and Bank of Communications, are some of the worlds largest, and itd be unthinkable a few years ago that they would be actively soliciting crypto business considering Beijings hardline stance on the issue and the general hesitation of large banks to engage with crypto.

After all, in the U.S., Silvergate and Signature found their market niche for this exact reason, with analysts saying the crypto industry will have a difficult time finding traditional banks that will work with it post their demise. These two banks made and lost their fortune with crypto: At the turn of the decade, they were both small, unknown banks before embracing crypto; Silvergate reported $2.12 billion in assets in December 2019 and peaked at $16 billion in December 2021.

Although both Silvergate and Signature grew significantly throughout cryptos boom years and institutionalization, their relatively small size means that they fell faster than they would have if they were larger like some of their peers.

But not everyone thinks this is the first chapter of something new, considering the tough onboarding process.

"The citys digital assets regulation is overall friendly and encourages banks to work with crypto companies, however, banks still currently have stringent requirements in place which makes it difficult for crypto businesses to expand and grow, Adrian Wang, Founder and CEO of Metalpha, a Hong Kong-based digital assets wealth management company, said to CoinDesk. We have yet to see major progress in the banking sector to embrace crypto. Hopefully, that will change soon.

12:00 p.m. HKT/SGT(4:00 UTC) Bank of Japan's Governor Kuroda Speech

9:15 p.m. HKT/SGT(13:15 UTC) European Central Bank's President Lagarde Speech

10:00 p.m. HKT/SGT(14:00 UTC) United States Consumer Confidence (March)

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A deal has been finalized for whats left of Silicon Valley Bank. J. Christopher Giancarlo, Willkie Farr & Gallagher senior counsel and former Commodity Futures Trading Commission chairman, shared his reaction. Plus, Cathie Wood's ARK Invest bought $12.6 million of Coinbase shares on Friday. MarketVector Indexes digital asset product strategist Martin Leinweber shared his crypto markets analysis.

CFTC Sues Binance, CEO Zhao Over 'Willful Evasion' of U.S. Laws, Unregistered Crypto Derivatives Products: The regulator alleged Binance offered unregistered crypto derivatives products and directed U.S. customers to evade compliance controls through the use of VPNs.

Gucci and Yuga Labs Are Bringing High Fashion to the Otherside: The firms will work together on the metaverse platform.

Polygon zkEVM Mainnet Beta Goes Live; Ethereums Buterin Sends First Transaction: The release of Polygons zkEVM comes just days after competitor Matter Labs released its own zkEVM, zkSync Era.

FTX Bankruptcy Estate Consolidates Arbitrum Airdrop Tokens Into Single Wallet: The estate now holds 33,125 ARB tokens worth around $42,000.

G-7 Will Push for Tighter Global Crypto Regulations, Kyodo: Discussions on a global framework will speed up ahead of a May meeting of finance ministers and central bankers from the Group of 7 countries.

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First Mover Asia: Chinas State-Owned Banks Are Soliciting Hong Kong Crypto Business, but Opening an Account Is Hard - Yahoo Finance

MOSDEX Offers Investors Alternative From Banking Turmoil with Innovative Staking Platform – Yahoo Finance

MOSDEX

As fractional reserve banking systems continue to experience pressure in a rising rate environment, crypto assets like Bitcoin have experienced inflows as investors look for a place to store investable capital. MOSDEX continues to enhance their infrastructure to support these inflows by offering a lucrative staking platform for passive income.

New York, NY, March 27, 2023 (GLOBE NEWSWIRE) -- It's becoming clearer every day that the financial world is in the midst of a seismic shift, with bank closures sweeping across the US and raising serious questions about the stability of traditional banking systems. In response, forward-thinking experts in the cryptocurrency industry are pushing for decentralized financial infrastructure, which is safer and more reliable.

The cryptocurrency industry has been hit hard by the recent collapse of three banks, including Signature Bank and Silvergate Bank, both of which had established themselves as supporters of the sector. This unsettling turn of events has sent shockwaves through the crypto community, as investors and traders alike grapple with the fallout of these banking failures.

In a world where traditional finance has long dominated, digital assets have emerged as a disruptive force, challenging the status quo and offering individuals a new way to take control of their finances. Among these digital assets, Bitcoin has become a symbol of liberation, empowering everyday people to break free from the grip of the banking system.

As the crypto industry continues to grow and evolve, there has been a shift towards acceptance of the need to collaborate with banks to comply with regulations, pay taxes, and administer payroll. However, digital asset companies remain committed to maintaining their core values of decentralization, transparency, and inclusivity and are leveraging cutting-edge technology to revolutionize the financial landscape. The recent banking crisis has compelled crypto industry experts to champion decentralized financial infrastructure like MOSDEX as a more secure and reliable alternative.

Story continues

MOSDEX Staking Based Arbitrage Platform May Offset Banking Risks

Early in the year,Mosdex introduced its staking-based arbitrage platform, complete with an advanced automated arbitrage engine that scans multiple order books across various exchanges to identify the most profitable trades, allowing users to earn daily passive income through its proprietary profit-sharing model.

Mosdexs innovative platform offers Bitcoin (BTC) and Tether (USDT) holders a secure way to earn passive income without the risks associated with traditional financial systems. By staking their BTC or USDT, users can virtually act as liquidity providers while enjoying recurring daily earnings.

The Mosdex Arbitrage Platform leverages automated and pre-determined mechanisms to calculate a 24-hour expected return that is highly competitive, possibly reaching up to 0.68% ROI daily. Users can choose from liquidity packages ranging from brief periods of 14 days, 30 days, or 90 days, with expected returns displayed upfront before the contract is locked.

Profits can be claimed on a daily basis directly from the user-friendly dashboard as soon as they are available, provided that the rewards exceed or equal $10. This eliminates the waiting time and provides added convenience for users.

Here are some of the benefits users can enjoy from the MOSDEX staking platform:

MOSDEX provides users with a low-risk way to earn recurring passive income by staking their BTC or USDT on the platform.

Unlike traditional liquidity provision methods that carry the risk of impermanent loss, MOSDEX limits this risk by using user assets for arbitrage activities, which perform trades within milliseconds to capitalize on price differences across different exchanges.

Users can choose from various liquidity packages, with expected returns shown upfront, and claim profits on a daily basis from the dashboard.

With an expected daily ROI of up to 0.68%, MOSDEX offers a highly competitive alternative to traditional banks and other investment options.

MOSDEX takes the security of its users' assets very seriously, following industry best practices for data protection, access rights, and encryption, and performing periodic internal and external audits to maintain the highest standards.

MOSDEX also offers a referral program where users can invite others to join the platform and receive a 0.6% rebate for each stake made by a referred user.

To start earning passive income with MOSDEX and take advantage of its secure and low-risk staking platform, visit their website athttps://mosdex.com today.

About Mosdex

Mosdex Limited is a Finnish financial and technology company. The Mosdex platform, which is the key product offering of Mosdex Limited, operates in a completely online and automated environment without a need for physical infrastructure.

The completely anonymous team at Mosdex has built an ecosystem of arbitrage tools for digital assets (cryptocurrencies). The platform has been audited, a detailed report can be found athttps://docs.mosdex.com/resources/audits. For information about Mosdex and its workings, please head out to the white paper:https://docs.mosdex.com/resources/white-paper.

Social Links

Telegram:https://t.me/MOSDEX_Official

Twitter:https://twitter.com/MOSDEX_Official

Medium: https://medium.com/@Mosdex

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MOSDEX Offers Investors Alternative From Banking Turmoil with Innovative Staking Platform - Yahoo Finance