China hands out $1.5m of digital currency in cashless society trial

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  • Authorities in Shenzhen, southern China, have handed out $1.5 million of a new digital currency as part of a trial of a cashless society.
  • Last Friday authorities gave 50,000 lottery winners the equivalent of $30 each to spend digitally by October 16, the state-run China Daily reported Monday.
  • The digital currency is not like a cryptocurrency, and is issued and controlled by China’s central bank, the People’s Bank of China.
  • The PBoC said it plans to formally launch the digital payment system in late 2020, according to the BBC.
  • Visit Business Insider’s homepage for more stories.

A Chinese city has handed out 10 million yuan, or $1.5 million, in digital currency to trial what citizens would do in a cashless society.

On Friday, 50,000 people living in the Luhou district of Shenzhen were given digital “red envelopes,” each containing around 200 yuan ($30) worth of the digital currency, the state-run China Daily reported Monday.

The digital currency not a cryptocurrency, like bitcoin or ethereum, but a digitized version of the country’s renminbi currency that is run by China’s central bank, the People’s Bank of China.

The country’s four largest state-owned banks are taking part in the Shenzhen trial, China Daily reported.

The trial requires people to download the government’s digital currency app and spend their money between October 12 and October 16 in 3,000 participating stores in the district, CNBC and China Daily reported. One of those participating stores is Walmart, CNBC reported, citing the Shenzhen government.

FILE PHOTO:  A woman wearing a mask walks past the headquarters of the People's Bank of China, the central bank, in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. REUTERS/Jason Lee/File Photo/File Photo

A pedestrian walks past the headquarters of the People’s Bank of China in Beijing on February 3, 2020. The PBoC is in charge of issuing the digital currency.

Reuters


So far, around 113,300 such digital currency apps — or “digital currency wallets” — have been set up in various pilot programs across China,

AMERICAN SOCIETY OF INTERIOR DESIGNERS LOOKS TO THE FUTURE OF DESIGN, INDUSTRY AND PROFESSION …

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Washington, D.C., Oct. 01, 2020 (GLOBE NEWSWIRE) — As all industries tackle the ongoing effects of COVID-19, the American Society of Interior Designers ( ASID ) has sought to understand the resiliency of the design industry and profession through times of uncertainty. The 2020 ASID Interior Design Resiliency Report has released the results from its first phase, conducted during the summer of 2020 in partnership with Cosentino, Benjamin Moore and Emerald to further investigate interior design resilience by examining the impact of the pandemic, the response from the interior design community and the changes necessary in design to move forward. 

“In their day-to-day work, design professionals are creative problem-solvers who constantly strive to provide a positive, impactful experience,” explains ASID Director, Research and Knowledge Management Susan Chung, Ph.D. “We hope that in addition to helping us understand the changes and challenges that face the industry, this Resiliency Report demonstrates the value of design and contributions design professionals can make to help lead us into a safer and healthier world.”

Prior to this study, ASID had been tracking the impact of COVID-19 on the interior design community through pulse surveys, finding signs of resilience among the industry and profession. The Resiliency Report takes a deeper dive by examining attributes of interior design professionals, their experiences during the pandemic and expected changes in the design of the built environment. The study not only identifies issues interior design businesses and professionals have faced during this major disruption, but also tracks changes implemented in the industry, tests the viability of industry-wide changes and showcases the value of design. The study will be conducted in multiple phases, with this being the first, to better understand long-term resilience.

When surveying designers and other industry respondents, the study focused on areas including impact, response, changes in

AMERICAN SOCIETY OF INTERIOR DESIGNERS LOOKS TO THE FUTURE OF DESIGN, INDUSTRY AND PROFESSION IN NEW RESILIENCY REPORT

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In Partnership with Design Leaders Cosentino, Benjamin Moore and Emerald, Research Demonstrates the Effects of COVID-19 on Design Professionals and Spaces

Reported Level of Impact
Reported Level of Impact
Reported Level of Impact
Reported Business Preparedness
Reported Business Preparedness
Reported Business Preparedness

Washington, D.C., Oct. 01, 2020 (GLOBE NEWSWIRE) — As all industries tackle the ongoing effects of COVID-19, the American Society of Interior Designers (ASID) has sought to understand the resiliency of the design industry and profession through times of uncertainty. The 2020 ASID Interior Design Resiliency Report has released the results from its first phase, conducted during the summer of 2020 in partnership with Cosentino, Benjamin Moore and Emerald to further investigate interior design resilience by examining the impact of the pandemic, the response from the interior design community and the changes necessary in design to move forward. 

“In their day-to-day work, design professionals are creative problem-solvers who constantly strive to provide a positive, impactful experience,” explains ASID Director, Research and Knowledge Management Susan Chung, Ph.D. “We hope that in addition to helping us understand the changes and challenges that face the industry, this Resiliency Report demonstrates the value of design and contributions design professionals can make to help lead us into a safer and healthier world.”

Prior to this study, ASID had been tracking the impact of COVID-19 on the interior design community through pulse surveys, finding signs of resilience among the industry and profession. The Resiliency Report takes a deeper dive by examining attributes of interior design professionals, their experiences during the pandemic and expected changes in the design of the built environment. The study not only identifies issues interior design businesses and professionals have faced during this major disruption, but also tracks changes implemented in the industry, tests the viability of industry-wide changes and showcases the value of design. The study will

USF College of Marine Science Becomes Home for International Marine Minerals Society (IMMS)

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Some of the deepest parts of the seafloor are covered by dense deposits of polymetallic nodules, shown here, which contain richer stores of valuable metals like cobalt and nickel than manyfound on land. The nodules range in size from a golf ball to a potato. Credit: Maersk

Some of the deepest parts of the seafloor are covered by dense deposits of polymetallic
nodules, shown here, which contain richer stores of valuable metals like cobalt and
nickel than manyfound on land. The nodules range in size from a golf ball to a potato.
Credit: Maersk

ST. PETERSBURG, FL – The USF College of Marine Science in St. Petersburg, FL announced today that it is
the new home for the International Marine Minerals Society (IMMS).

Founded in 1987, the society was based at the University of Hawaii for more than 25
years. Its global membership of academic, government, nonprofit, and industry partners
are interested in the responsible exploration and extraction of minerals found on
the seafloor.

“We are pleased to serve as the new host institution for the IMMS,” said Tom Frazer, PhD, dean of the College of Marine Science. “Exploration and discovery are integral to
the scientific process and a key part of our efforts to advance knowledge of the global
ocean and its vast resources. We are committed to providing the science needed to
inform effective policy and decision-making, and well positioned to facilitate constructive
dialogue on the future of ocean mineral extraction.”

Frazer affirmed the announcement in opening remarks for the flagship annual conference
of the IMMS, the Underwater Minerals Conference – UMC. This year’s UMC, the 49th, is co-hosted by USF and the IMMS and takes place
virtually through October 2nd.

While individual countries have managed mineral extraction activities that occur within
their jurisdiction per the United Nations Law of the Sea for decades, rules to govern
international waters are not yet final. But that could change soon because the governing
body in charge, the International Seabed Authority (ISA), is in the process of preparing
regulations for commercial mineral extraction in international waters.

USF is

The Benefits of Living in a Digital Society

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We are fortunate to be living in a time when all people have the ability, and the capability to access any knowledge they desire. This digital society that we live in affords us opportunities that our ancestor only dreamed of having. We should not take this privilege for granted.

In the not so distant past of the 1950s, people who wanted to research an idea, a product, or anything else, had to go to a library where they could look up information in books. Not all people had the same access to the books, and the information they contained. In America if your skin was black, you could not use the same library that a person with white skin used. If a black skinned person was allowed access to a library, it more than likely was stocked with outdated books that a library that was designed to be used by white skinned people had discarded.

In the digital society we live in today, the color of your skin does not determine the access you have to information. Technology has brought to us the powerful tools like the internet where we can find information on almost every subject.

Our digital society did not just appear it evolved over time, just as the acceptance of people of different races evolved over time. The acceptance of people with different skin colors, different accents, and different points of view is not through evolving into the fair and equal status it will one day have. Just as the digital society of today is nothing compared to the one our great grandchildren will live in.

Access to the internet has allowed us to research the things we are planning to purchase, and the places we are planning to visit. With this ability we have become informed …