tyb
>you know you want to shitpost.
some comms faggit locked the last bed
kek
Amazon paid an undisclosed amount to Facebook in a deal that acquired more than a dozen satellite internet experts from the social media giant, according to The Information.
The move gives Amazon's $10 billion Project Kuiper, the amount the firm has vowed to spend, a boost in developing low Earth orbit satellites that will deliver high-speed internet globally.
Facebook began its own internet satellite venture in 2015 and planned to launch its first satellite , dubbed Athena, in 2019. However, Wednesday's news reveals the Facebook team has been working for Amazon since April and includes physicists and engineers who have experience working on aeronautical and wireless systems, according to The Information.
Facebook spokesperson told DailyMail.com: 'We believe satellite technology will enable the next generation of broadband infrastructure, and as part of our connectivity efforts, we've built an incredible team around designing and testing new ways to advance satellite connectivity using optical communications and radio frequency systems and solutions. Not only does the deal beef up Amazon's team of 500 people, but it puts Project Kuiper closer to launching its first satellites and finally competing with SpaceX's Starlink. Amazon first announced plans for Kuiper Systems in 2018 and obtained approval from the Federal Communications (FCC) in July 2020 to build the constellation of 3,236 satellites. The 3,236 satellites would have the ability to serve about 95 percent of the world's population and successfully position Amazon as a global ISP provider.
Now with the new additions from Facebook, Project Kuiper may soon get off the ground. Facebook was set to launch Athena in March 2020, which it also hoped would compete with SpaceX. The social media firm even filed its internet satellite venture with the FCC. The filings were made under the name of a shell company, PointView Tech, that is owned by Facebook, according to Business Insider. However, all the employees focused on helping Facebook reach for the stars moved to Amazon's Los Angeles office.
The workers include physicists as well as optical, prototyping, mechanical and software engineers who had previously worked on aeronautical systems and wireless networks, according to their LinkedIn pages. Although Amazon is heading down the right path, it will have to put in some extra work if it is to catch up with Elon Musk's SpaceX, which has launched more than 1,730 Starlink satellites overall. The Starlink constellation is also providing broadband services to more than 69,000 users in 12 countries worldwide
https://www.dailymail.co.uk/sciencetech/article-9787935/Amazon-acquires-Facebooks-ENTIRE-internet-satellite-team-boost-Project-Kuiper.html
The Fed Has Approved 3,576 Bank Mergers in 15-1/2 Years; Denied Zero. One Business Day after President Biden’s Executive Order Warns Against Bank Concentration, the Fed Approves Another Bank Merger.
On Monday, the Federal Reserve (which includes no one elected to office by the American people) thumbed its nose at President Joe Biden, the man who received more than 81 million votes in the 2020 Presidential election, representing a 51.3 percent mandate from the American people who vote. On Friday, July 9, President Biden released a sweeping Executive Order warning federal agencies against actions that create “excessive market concentration” with specific mention of bank merger activity. One business day later, the Federal Reserve…wait for it…approved another bank merger. The Federal Reserve’s actions from January 1, 2006 through the latest data available on June 30, 2020, define the Fed as the quintessential “excessive market concentrator.” According to the Fed’s own data, it has approved 3,576 bank mergers, while denying zero merger applications, since January 1, 2006. (See data here and here.)
At the end of 1999, the year that President Bill Clinton’s Wall Street-friendly administration repealed the 66-year old Glass-Steagall Act – ushering in an era where Wall Street’s trading casinos could buy federally-insured banks – the number of federally-insured banks and savings institutions has collapsed from a total of 10,220 to 4,978 as of March 31, 2021 according to data from the Federal Deposit Insurance Corporation. That’s a decline of 51 percent in banking competition. But the decline in the number of overall banks fails to capture the gargantuan concentration of assets at just four banking behemoths: JPMorgan Chase, Bank of America, Wells Fargo, and Citibank. According to the March 31, 2021 report from the Federal Reserve, just four banks own $9 trillion in assets of the total $22.56 trillion in assets owned by all 4,978 federally-insured banks and savings associations in the country. To put it more poignantly, those four banks represent just 0.08 percent of all the banks in the country while controlling 40 percent of the assets.
And not to put too fine a point on it, but the largest bank of all, JPMorgan Chase – which has racked up an unprecedented five felony counts from the U.S. Department of Justice in the last seven years for money laundering and rigging markets – owns $3.2 trillion of those assets while serving as custodian of a mind-numbing $29 trillion of other people’s assets. One doesn’t have to be a rocket scientist to quickly grasp that this is the banking model from hell supervised by a seriously captured regulator – the Fed. In short, the Fed has effectively seized control of the nation’s economic future, transferring wealth from the farms, small businesses and factory floors of America to the trading floors on Wall Street, forcing the working class, in order to survive, to go deeper and deeper into debt on credit cards – which are conveniently owned by these same banks.
Today and tomorrow, the House Financial Services Committee and Senate Banking Committee will have their quaint semi-annual chats with the Chairman of the Federal Reserve, Jerome Powell. It’s time for these trivial, polite chats to end and serious Congressional reform of the Fed to begin – starting with abruptly stripping the Fed of its power to approve bank mergers and supervise the Frankenbanks that it has created.
https://wallstreetonparade.com/2021/07/the-fed-has-approved-3576-bank-mergers-in-15-1-2-years-denied-zero-one-business-day-after-president-bidens-executive-order-warns-against-bank-concentration-the-fed-approves-another-bank-m/
Oracle unit partners with Everest to bring blockchain to banks worldwide
Oracle Financial Services Software Ltd, a unit of Oracle Corp, has teamed up with financial technology provider Everest to bring blockchain to banks worldwide to enhance their product offerings, Everest Chief Executive and co-founder Bob Reid said. Oracle Financial’s software is used in retail and corporate banking as well as the insurance sector. Everest, whose blockchain technology enables a wide range of financial services, said it recently worked with the Asian Development Bank on the Central Bank of Samoa’s regulatory compliance platform. Everest is also a licensed custodian of cryptocurrencies.
In an interview on Tuesday, Reid told Reuters the collaboration means Oracle’s bank clients will be able to verify a customer’s credentials and transfer them to the blockchain platform in different countries. Everest is registered and based in Malta. Blockchain, a digital ledger of transactions, gained prominence over the last 10 years as the technology that underpinned the virtual currency bitcoin. “Oracle does some blockchain work in their cloud, which is not related to the core banking and financial platform that they sell to banks,” Reid said. “We’re bringing blockchain for identity and account creation to Oracle.” Oracle, the parent company, launched a blockchain platform cloud service in 2018.
Its financial software unit already provides a wide array of anti-money laundering capabilities, but Everest’s blockchain-based identity and biometric verification services should enhance Oracle’s banking software, Everest’s top official said. Those two services will be integrated into one product, Reid said, and should be completed by the fourth quarter. The collaboration enables financial institutions to “remotely onboard customers across multiple jurisdictions, especially during the ongoing pandemic,” said John Edison, vice president and head of Financial Crime and Compliance Management Products at Oracle, in a statement.
Through the joint service, banks can also access cryptocurrencies, cross-border and decentralized finance or DeFi tools, Reid said. DeFi projects facilitate crypto-denominated lending outside traditional banking. Global banks’ adoption of blockchain has a come a long way since a decade ago, market participants said. “Eighteen months ago banks won’t take a call from anybody from crypto: they were scared, they were worried about compliance,” Reid said.
https://www.reuters.com/article/fintech-blockchain-oracle/oracle-unit-partners-with-everest-to-bring-blockchain-to-banks-worldwide-idUSL1N2OO2IC
Once it gets about 10-15% adoption rate...and that is every last bit of it....assets, equity, derivatives (this harder), currency etc...basically everything thing that belongs on paper it's gonna be difficult to extract any part of a system from it.
We can't habs just a gold-backed system (tried this before)..it's gotta be a basket of things ala oil, precious, to start off with.
I noes all about the oil story but you habs to have something tradeable and accepted to start with.
But back to the original point..once it gets beyond that 15% adoption rate it's gonna be a tough sell to stop it.
The reason it can't be just gold is every Gov't and individual that has amassed a large amount(s) is not always on the side of the people-see China.
Now Silver...kek!
and yes it is the same way with any commodity.
Not all who stack or collect are on the right side imo.
muh opinion is that if they iron out the transaction issues (still a big deterrent as not enough per second to replace existing system and pretty sure they already have that ready to go since that is one big roadblock as it currently functions nao) then we are not gonna have much choice at all whether we want it.
The big one is gonna be tokenizing the derivative piles of shit along with the equity markets.
That is still a huge challenge (as presently constructed)-they always have the answers to the presented problems when they provide the solution.
That is the solution they have always wanted to the limitations of paper-based finance.
kek!
dis is where Texas anons turn up da heat imo.
Yer little op failed so get back to werk grifters....
at the very least get some good beer mang!!
dey seem mad.