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The future will be decentralized

ON THE INTERNET, as a friend recently reminded me, everything looks permanent until it isn’t. As technology evolves, the most profound and destabilizing change is likely to be the transition from centralized internet services to decentralized ones.

Centralized services typically are run by companies or institutions, such as Facebook, Twitter, or Amazon. There is a command structure and a boss, and changes can be made by deliberate decision. In this parlance, even Wikipedia counts as centralized, though the editors and contributors are scattered around the world.

Decentralized services are harder to define, but two simple examples may be helpful. The first is e-mail, which consists of networks of rules and interconnections not owned by any one company or institution, even though your e-mail provider might be.

The second is the World Wide Web itself, a series of protocols with a huge amount of stuff built on top of it. Bitcoin also operates in a decentralized way, unless a majority of the blockchain miners decide otherwise, which is very difficult to pull off.

When I hear laypersons discuss the future of the internet, the most common question is what kind of company or service is coming next. Clubhouse, the audio discussion forum, is one recent innovation in social media, and no doubt there will be more.

When I hear internet entrepreneurs discuss the future, the biggest question is what kind of decentralized service or platform might be next. The internet has gone through numerous fundamental changes since its origins in the 1960s, and more smart people are working on innovation than ever before. There is no good reason to assume the status quo is sacred; in fact there is ample reason to suppose otherwise.

The technology entrepreneur Balaji Srinivasan predicts a radically decentralized future. In his frequent Twitter postings, crypto and decentralization will swallow the world, to paraphrase Marc Andreessen’s decade-old claim about software. If Twitter censors some of its posters, users can seek out new platforms that do not allow such intrusions.

Why not, for example, put social media on blockchains and have efficient cryptocurrency micropayments to reward those who help maintain such mechanisms? Censoring postings on such a service would be as difficult as trying to overwrite a blockchain ledger, which is to say very difficult. (Indeed such postings would be a blockchain ledger, albeit in a more digestible form.) And instead of having to deal with the content rules of Twitter or WhatsApp, perhaps you could customize and build your own rules.

According to Srinivasan, such exchanges — for not only money but also information — will eventually evolve beyond easy governmental or gatekeeper control. It may even be hard to recognize what money is anymore. This is a world that would have made no sense if you had tried to describe it to anyone a mere dozen years ago.

Another vertigo-inducing vision of the future can be glimpsed at zora.co. If you are initially baffled — join the club! Think of Zora as like Spotify, except for more than just music, and the creators keep the rights and sell at prices they decide. It attempts to be an open-source ecosystem for building the future of art.

If radical decentralization does come about, the concept most in need of radical revision may be adjudication. Have you read those stories of people who have their crypto wallets hacked and have no bank or intermediary to go to for a refund? Or of those people who cannot remember their crypto passwords and will lose millions in locked accounts as a result? It is possible that this kind of thing will become far more common, and notions of control will require a wholesale rethinking.

Having grown up in an analog world, I find these ambitious visions both unsurprising and bewildering. On one hand, I have seen the transition of so much activity to the digital world that another major revolution should not shock me. On the other hand, (a possibly atavistic) part of me likes knowing that someone or something is in control, whether it’s a government, a bunch of people in Mountain View, or even just my dean.

“Life on the blockchain” feels alienating in a way that goes beyond old-style Marxist concerns. (Remember, I am the kind of guy who prefers to slip coins into the parking meter rather than download the app.) When I ask myself what services I am really missing, I find I’m far more interested in a new Chinese restaurant in my town than new open-source platforms to enable innovations I will never quite understand. — BLOOMBERG OPINION

Mexico’s Senate majority leader puts forward legislation to regulate Facebook, Twitter

MEXICO CITY – A prominent senator from Mexico’s ruling party has proposed regulating major social media networks, including Twitter and Facebook, in a draft bill seen by Reuters on Monday.

In a reform to the federal telecommunications law, the planned legislation would grant the IFT, Mexico’s telecoms regulator, oversight in establishing a framework for the suspension and elimination of accounts on social networks.

The draft bill named Facebook, which is used by more than 90% of internet users in Mexico, Twitter, YouTube, Instagram and Snapchat as networks that would be included in the IFT’s mandate to “establish the bases and general principles of the protection of freedom of expression in social networks.”

Ricardo Monreal, who leads President Andres Manuel Lopez Obrador’s National Regeneration Movement (MORENA) party in the upper house, proposed the legislation and is seeking public comment.

Mr. Lopez Obrador has been critical of social media, including Facebook’s decision to deactivate former U.S. President Donald Trump’s account. In January, Mr. Lopez Obrador singled out a Twitter employee in Mexico, suggesting his former connections to an opposition party could compromise the company’s ability to be neutral.

A representative for Facebook declined to comment. A spokesperson for Twitter did not immediately respond to a request for comment. – Reuters

Australia’s gold industry stamped out mercury pollution – now it’s coal’s turn

Mercury is a nasty toxin that harms humans and ecosystems.

Most human exposure comes from eating contaminated fish and other seafood. But how does mercury enter the Australian environment in the first place?

Our recent research dug into official data and past research to answer this question.

In some rare good news for the environment, it turns out one Australian industry – gold production – has brought mercury emissions down to almost zero. But more can be done about mercury emitted from coal-fired power stations.

Australia is one of the few developed countries yet to ratify the United Nations’ Minamata Convention on Mercury, which aims to reduce mercury in the environment. But once we deal with emissions from coal burning, we’ll be closer than ever to addressing the problem.

Mercury is a heavy metal that cycles between the atmosphere, ocean and land. It occurs naturally but can be toxic to humans and wildlife.

Most human-caused mercury emissions come from the burning of fossil fuels and the mining and production of gold and other metals.

What’s more, items such as light bulbs and thermometers dumped in landfill can release mercury 30-50 years later.

Once in the air, mercury can float around for months, crossing oceans and continents to end up back on the ground, far from where it was emitted.

It’s eventually taken up by soils, water and plants, then slowly released back to the atmosphere.

Estimates vary on the exact amount of mercury that Australian activities release to the air. Studies we reviewed put the figure at anywhere between 8 and 30 tonnes each year.

Our analysis shows the figure is likely at the low end of that range – largely due to a single success story.

In 2006, a gold production facility in Kalgoorlie was thought to cause half of Australia’s industrial mercury emissions. The massive operation includes the Fimiston Open Pit, or “Super Pit”, purportedly so large it can be seen from space.

Gold ore naturally contains mercury. To extract the gold, the ore is typically roasted at temperatures of up to 600℃. During this process, the mercury escapes into the atmosphere. Most mercury pollution from Australia’s gold industry came from a single roaster at the Kalgoorlie site.

But over one decade, mercury emissions from the operation dropped from more than 8 tonnes to just 250 kilograms. This was largely due to a technology upgrade in 2015, when the roaster was replaced by a grinding process.

This success means coal-fired power plants are now Australia’s largest controllable source of mercury emissions. They emit between two and four tonnes of mercury every year (along with other air pollutants).

Other natural and human activities release mercury into the air. They include:

Bushfires: Mercury is usually released to the environment over decades. But the process can be much more rapid if the vegetation burns in a bushfire.

Our research found most estimates of bushfire emissions fall between 4 and 40 tonnes each year. But this work relied on measurements from overseas. New measurements from Australian ecosystems suggests past estimates are probably too high – possibly due to lower mercury concentrations in some Australian vegetation.

Soils and unburnt vegtation: Only one study has calculated the mercury released from Australian soils and unburnt vegetation, which it put at a whopping 74 to 222 tonnes per year.

When that research was published in 2012, there were no Australian data to test the model behind these numbers. We still don’t have many measurements, but most data we do have show Australian soils and vegetation take up about as much mercury as they release.

The one exception is “enriched” soils, which contain more mercury than other soils. This is because they are located over natural mineral belts and at former mining sites. At one location in northern New South Wales, enriched soils emitted more than 100 times as much mercury as nearby unenriched soils.

Mercury from elsewhere: Mercury released by other countries can travel to Australia in the air. The levels are tough to quantify, but we are currently using models to produce an estimate.

Even with our new, lower estimates, Australia’s per capita mercury emissions remain higher than the global average, likely due to our reliance on coal burning. Technology can lower these emissions.

Some mercury emitted by power plants isn’t in the air for long before it falls to Earth. This can harm nearby people and ecosystems.

The federal government recently banned mercury-containing pesticides used in sugar cane farming. With gold production also taken care of, reducing mercury emissions from power plants is the logical next step.

It’s also time for Australia to formally commit to the Minamata Convention. Once we ratify the deal, we’ll be bound to control mercury emissions under international law – and that’s good for humans and wildlife everywhere.

Despite low life expectancy, Filipinos are optimistic about their health — report

The Philippines ranks fourth among 13 Asian markets in overall health perception, with more than half of Filipinos (57%) being optimistic about their health, according to Pulse of Asia: The Health of Asia Barometer, a report developed by the Economist Intelligence Unit and supported by British multinational insurance company Prudential plc that outlines the current state of healthcare in the region, its challenges, and the role digital health technology can play to improve wellness.

“People are generally optimistic when it comes to health and well-being. This optimism about the future, however, is not correlated with life expectancy,” said Andrew Y. K. Wong, chief health officer of Prudential Corporation Asia, in a recent roundtable discussion. 

Singapore and Hong Kong enjoy higher life expectancies, said Mr. Wong, but their citizens are relatively downbeat about health. “In places like Indonesia and the Philippines, on the other hand, people are more positive about health in the mid-term. They are more optimistic about managing their health.” (According to data from the World Bank, life expectancy in Hong Kong is 84.93 years; Singapore, 83.15 years; Indonesia, 71.51 years; and the Philippines, 71.10 years.)

Filipinos also rank second (34%) among Asians to have taken measures in the past three months to improve their emotional well-being. This, after reporting they were depressed and anxious (40%), and that they experienced elevated stress, anxiety, and depression as a result of coronavirus disease 2019 (COVID-19) (42%). 

“Treat mental health at par with physical health,” Mr. Wong said. “Although there is increased optimism, in general, most societies are still fazed from the various lockdowns and the frequent isolation from friends and family.” He added the government needs to help manage this concern.

TECHNOLOGY CAN HELP FILL HEALTHCARE GAPS

The Asia-wide research, which surveyed 5,000 people during the second half of 2020, also presents the potential of technology to combat healthcare challenges. Four in five respondents (81%) said technology has already improved their access to health services, while three in five (60%) believe it has improved its affordability. Three years from now, 71% of those surveyed said they will rely on technology even more to improve their personal health and well-being. 

“Digital health technologies are popular but need to work harder for citizens,” the report said, citing a need for centralized data repositories, such as patient health records.

In the Philippines, 79% of respondents say they already use digital health platforms, as well as personal health technologies such as smartwatches and fitness trackers. More than a third (36%), however, prefer in-person consultations, the highest in the Association of Southeast Asian Nations (ASEAN) region.

Strict data governance needs to underpin connected health services, the report recommends. Data security enables health data to be safely centralized, and empower governments to design better policies around healthcare infrastructure.

“There is a need to connect digital health technologies in the Philippine context and identify which mobile apps would be in the best position to help the common folk,” said Dr. Raymond R. Sarmiento, director of the National Telehealth Center. 

The Philippines, he added, has a high attrition rate. “There are those who download an app and then stop using it after five days,” he said. “Others download apps, which then sit idly on their phones and don’t get revisited.” — Patricia B. Mirasol

How to prepare for a telemedicine consultation

The pandemic is not a reason to skip a doctor’s visit. Telemedicine services abound, and it pays to prepare prior to a virtual consultation to get the most out of it. Here are a few tips shared by Dr. Iris M. Garcia, a cardiologist from the Philippine Heart Center, during a Feb. 9 health forum hosted by the Philippine Heart Center: 

  • Prepare a list of at least three questions to make good use of the time. “List down your most pressing concerns, kasi minsan napuputol ang internet [because sometimes the internet connection gets cut off],” she said.
  • If you have any diagnostic laboratory results, especially those related to your concerns, have them on hand, so your doctor can check them. 

Dr. Luigi Pierre S. Segundo, a cardiologist from The Medical City, added that it was also important to take down personal notes. “Hindi lang kasi prescription ang ibibigay sa ’yo, pati rin advice [Your doctor isn’t just going to give your prescription, but also advice on how to manage your condition].” — P. B. Mirasol

Mitigating the impact of the COVID-19 pandemic on cancer care

In March 2020, the Philippine General Hospital (PGH) was designated by the Department of Health (DoH) as one of the three coronavirus disease 2019 (COVID-19) referral centers in Metro Manila. As a result, a substantial proportion of the hospital’s logistics and manpower was allocated to caring for COVID-19 patients. 

The PGH Cancer Institute, among other non-emergency outpatient specialty services of the hospital, ceased operations for one week to ensure the safety of cancer patients who are mostly immunocompromised and therefore have a higher risk of getting infected with the novel coronavirus. (“Treatment of cancer patients during the COVID-19 pandemic in the Philippines,” Ecancermedicalscience, May 8, 2020.) 

“[Before the pandemic], we would see an average of 120 patients for checkup, cater to 40–50 patients on outpatient chemotherapy, 80–100 patients on radiotherapy, and take care of 20–25 patients admitted for inpatient chemotherapy regimens on a regular workday. This past week, most of our time was spent answering phone calls and text messages from patients, explaining to them the unfortunate scenario of closed clinics and suspended services, and facilitating the transfer of their care,” wrote PGH Cancer Institute consultants Drs. Frederic Ivan Ting, Aveline Marie Ylanan, and Dennis Lee Sacdalan. (“The Pain of Sending Away Cancer Patients Amidst the COVID-19 Pandemic,” Eurasian Journal of Medicine and Oncology, April 2020.)

Patient advocate Fatima Garcia-Lorenzo shared the same concern when she spoke during the Health for Juan & Juana webinar forum. “Around 20% of our cancer patients have not been able to receive their regular treatments, and many have relapsed. Aside from the lack of public transportation, cancer patients with weakened immune systems also have to contend with the lack of non-COVID wards in some hospitals, forcing them to pass through the same entrances and corridors used by COVID-19 patients,” said Ms. Garcia-Lorenzo, executive director of Kythe Foundation and president of the Philippine Alliance of Patient Organizations (PAPO).

Due to the overwhelming impact of the pandemic on cancer patients, the Cancer Coalition Philippines (CCPh) and members of the Pharmaceutical and Healthcare Association of the Philippines (PHAP) together with the DoH and BusinessWorld as a media partner, is holding a series of virtual fora to put a spotlight on the current plight of cancer patients in the country. Together with us in the forum series are pharmaceutical companies MSD, Pfizer, Roche, Takeda, Boehringer Ingelheim, Novartis, and Johnson & Johnson. 

The CCPh, on the other hand, is composed of the I Can Serve Foundation, Philippine Cancer Society, Cancer Warriors Foundation, Philippine Society of Oncologists, Project: Brave Kids, Carewell Community Foundation, and the Philippine Society of Medical Oncology. 

A forum held on Feb. 4, titled “Cancer Conversations: Navigating Cancer with Patients,” aimed to support patients, increase understanding, and update information on where to get assistance during the pandemic.  

The forum also revisited the implementation of the National Integrated Cancer Control Act (NICCA), an internationally acclaimed law for comprehensively mapping the path forward to strengthen cancer control, increase cancer survivorship and reduce the burden on patients and families. 

“This pandemic has underscored the importance of a strong and reliable healthcare system for any given country, but with landmark laws such as the National Integrated Cancer Control Act and the Universal Healthcare Law, we will ensure that we build a health system that provides quality healthcare without financial hardship for every Filipino, including our cancer patients. As we continue fighting the pandemic, the DoH, together with its partners, shall continue to provide early and sufficient access to cancer medicines and ensure the highest possible chance of survival among people with cancer,” Health Secretary Francisco T. Duque III said.

“The COVID-19 pandemic revealed the strengths and weakness of our healthcare system. Over the years, cancer awareness groups have been advocating cancer care prevention, screening, early detection, and access to palliative care. Through this forum, cancer patients can share the challenges they faced during the pandemic and what resources became available to them. In addition to this, cancer patients and their families are looking forward to a hopeful life journey because equitable and affordable cancer treatment and care are provided for under the cancer law. We share in the call for its full implementation so that patients need not wait anymore,” noted Paul Perez, president of the CCPh and Project Brave Kids founder.

The COVID-19 pandemic affected healthcare systems globally and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients with cancer to significant risks. This was the key finding of a global collaborative study that used a validated web-based, 51-item questionnaire to assess the impact of the COVID-19 pandemic on cancer care. A total of 356 centers from 54 countries across six continents (including Asia) participated in the study between April 21 and May 8, 2020. These centers serve more than 700,000 new cancer patients a year. (“Impact of the COVID-19 Pandemic on Cancer Care: A Global Collaborative Study,” JCO Global Oncology, Sept. 28, 2020.)

Most of the centers (88.2%) reported facing challenges in delivering care during the pandemic. Although more than half (55.34%) reduced services as part of a preemptive strategy, other common reasons included an overwhelmed system (19.94%), lack of personal protective equipment (19.10%), staff shortage because of infection (17.98%), and restricted access to medications (9.83%). Almost half of the centers (46.31%) reported at least one cycle of therapy was missed by more than 10% of their patients. Participants reported patient exposure to harm from interruption of cancer-specific care (36.52%) and noncancer-related care (39.04%), with some centers estimating that up to 80% of their patients were exposed to harm. (“Impact of the COVID-19 Pandemic on Cancer Care: A Global Collaborative Study,” JCO Global Oncology, Sept. 28, 2020.)

When the Cancer Institute reopened in April 2020, it implemented key strategies as part of a comprehensive approach to facilitate care delivery and meet the challenges imposed by the pandemic. This approach was informed by guidelines and recommendations to clinicians on the care of cancer patients during this pandemic issued by the American Society of Clinical Oncology, the European Society of Medical Oncology, and the Philippine Society of Medical Oncology. 

We can use the lessons learned during this difficult time to better prepare and create a more resilient healthcare system to manage future pandemics and health emergencies.

Five countries to abandon Pacific forum over leadership vote

SYDNEY/WELLINGTON – Five Pacific island nations will start withdrawing from the region’s main political forum, according to a joint statement, in the fallout from a fractious leadership vote last week.

The presidents of Nauru, the Federated States of Micronesia (FSM), Kiribati, Marshall Islands and Palau said an informal agreement to elect a new chief diplomat from their Micronesia sub-region was not honoured.

The impending withdrawals from the Pacific Island Forum (PIF) would reduce the number of members to 13 and be dominated by South Pacific nations like Fiji, Papua New Guinea and regional heavyweights Australia and New Zealand.

“There is no value in participating in an organisation that does not respect established agreements, including the gentlemen’s agreement on sub-regional rotation,” said the statement, sent after a virtual meeting of the Micronesian country leaders on Monday.

Former Cook Islands prime minister Henry Puna won the tightly-contested vote last week to become the forum’s new Secretary General.

Mr. Puna defeated Micronesia’s Gerald Zackious, the Marshall Islands ambassador to the United States, by nine votes to eight.

PIF chair Kausea Natano, from Tuvalu, said last week the result was a “consensus decision” that followed an agreed process.

The dispute represents one of the biggest member revolts in the 50-year history of the forum, which has consistently lobbied larger nations to combat climate change that threatens their low-lying islands.

Most island nation governments are also facing severe economic headwinds, due to their heavy reliance on international tourism, an industry that abruptly shut last year due to the coronavius pandemic.

The sparsely populated South Pacific island countries are strategic locations that have in recent years become a battleground for influence between China and the United States and its allies.

The joint letter said that while the five countries would initiate the withdrawal process, the final decision on how to proceed remained with the respective governments.

Anna Powles, senior lecturer in the Centre for Defence and Security Studies at Massey University based in Wellington, said there would likely need to be concessions made in order for any of the Micronesian states to remain with the forum. – Reuters

How to navigate a freelance career during the COVID-19 crisis

Millions of people around the world have lost their jobs, temporarily or permanently, during the COVID-19 pandemic.

Freelancers and contract workers have been among those heavily affected by this health and economic crisis. Freelancers often work on a contract basis and for multiple clients. In some industries (such as cosmetics, arts and sports), freelancers have lost many contracts and employment opportunities.

The Canadian government has offered financial support to these gig workers. However, the long-term effects on freelancers might go beyond losing their source of income. It may require them to seek more stable forms of employment, foregoing the flexibility many gig workers enjoy.

This could halt further development of the freelance employment cohort, which was expected to grow significantly in coming years. So it’s important to understand how freelancers can cope with the pandemic and remain positive.

I designed a study to examine how freelancers can stay positive and determined in their job searches and how they can cope with the shock of COVID-19. In my study, I looked into three aspects I call “career resources” that freelancers might use to stay confident and to explore their job opportunities.

These resources are explained in a book titled An Intelligent Career by Suffolk University career expert Michael Arthur and his colleagues. As explained in this book, people use a combination of resources to work and navigate their careers, including the following three:

  • Passion for career: Internal motivation (or passion) to do the job;
  • Expertise and skills: A set of skills that helps them perform the job; and
  • Professional relationships: Colleagues and friends who offer encouragement, help and support.

In short, I wanted to answer these questions: Do these three career resources help freelancers stay confident in times of uncertainty? Which career resources help them remain determined in exploring their job opportunities?

To find out, I asked 87 Canadian freelancers to complete a survey about their job search during the COVID-19 pandemic. I asked questions about their career resources (their passion for their freelance jobs, their level of skills and expertise, and their relationships). I also asked questions about their confidence in finding jobs as well as their proactiveness in exploring job opportunities.

Statistical analysis showed that passion was the most powerful resource for freelancers to stay confident and motivated in job searches. Skills were also related to freelancers’ level of confidence and proactiveness.

However, relationships did not necessarily contribute positively to freelancers’ confidence and proactiveness in their job search. This could possibly be because they’ve heard disheartening news about their friends and colleagues losing jobs during difficult times, such as the pandemic. The larger someone’s network of people is, the more likely that they’ve heard bad news and negative thoughts. As a result, freelancers might lose confidence and drive after hearing that many of their colleagues and friends lost work.

There are many ways governments and employers can help freelancers remain hopeful, confident and proactive in their job searches.

Because passion and skills are key resources for freelancers, governments can provide programs that enable them to develop their skills and enhance their passions. For example, online educational videos can provide freelancers with insightful information on key skills such as leadership. These online videos could be provided to various groups of freelancers, especially those who apply for employment insurance in times of difficulty.

Employers can also assist freelancers by designing interesting jobs with on-the-job learning and growth opportunities. These opportunities not only improve freelancers’ skills, but also heighten their passion by satisfying their desire to feel challenged.

Friends and family members can also help freelancers. In my study, friends and colleagues did not necessarily improve freelancers’ confidence and proactiveness. It might be because so many people share negative thoughts and discouraging news about widespread job losses and potential economic crises.

I suggest people be kinder and spread positive thoughts to the freelancers in their lives. This is central to one of the three career resources that many people rely on in their professional lives — friends and colleagues offering support and encouragement.

Last but not least, freelancers themselves must be proactive. They can take advantage of lockdowns and economic downturns by investing their time in skill development. An inexpensive (or sometimes free) way to do so is to take online courses related to their area of work, leadership or interpersonal skills.

Taking these courses will help them feel more skilled and connected, which will help increase their passion for their work while putting them in a stronger position to find jobs. – Reuters

Stocks, oil rise in Asia after U.S. records

Asian stock markets rose on Tuesday after a record-setting day on Wall Street, while Bitcoin paused for breath after an overnight endorsement from Tesla Inc sent the cryptocurrency up 20%.

Oil also hit 13-month highs, helped by rising optimism about a return in fuel demand.

MSCI’s broadest index of Asia-Pacific shares outside Japan was last up 0.32 % at 721.53 after climbing as high as 730.16 late last month.

Korea was an early riser, up 0.92% while Chinese blue chips rose 0.49% and Hong Kong nudged up 0.24%.

Japan’s Nikkei .N225 was up 0.36% and e-mini futures for the S&P 500 were up 0.5%.

The early action came after another day of so-called reflation trades around the world, in which global markets bid up stocks, oil and gold while U.S. Treasury yields held near 11-month highs.

“Reflation on the back of U.S. fiscal stimulus and positive vaccine news remains the major theme for markets,” strategists at National Australia Bank wrote.

Expectations have been building that inflation would pick up as governments and central banks continue massive spending and easy money policies until officials are certain that their economies will recover from the coronavirus pandemic.

Wall Street reached all-time closing highs on Monday as the Nasdaq Composite added nearly 1% and the S&P 500 and the Dow Jones Industrial Average gained about 0.75%.

In more volatile cryptocurrency markets, Bitcoin briefly passed $47,000 for the first time, a 20% rise, before paring gains. It was last at $45,669.

Tesla Inc said overnight it had invested around $1.5 billion in the virtual currency and expects to accept it as payment for its cars in the future.

Justin d’Anethan, sales manager at digital asset company Diginex, said that so far most of the selling pressure in Asia had been absorbed.

“This morning, after over $1.2billion of leveraged shorts got liquidated, the usual sellers of crypto will probably think twice before dumping their coins,” Mr. d’Anethan said.

Oil prices continued to rise on Tuesday to 13-month highs.

Brent rose 33 cents, or 0.54%, U.S. West Texas Intermediate crude was at $58.34 a barrel, up 37 cents, or 0.64%.

“There is a sense that the glut of oil supply is disappearing more rapidly than anybody thought possible,” said Phil Flynn, senior analyst at Price Futures Group in Chicago. “There seems to be a paradigm shift in the market.”

Spot gold rose 0.37% to $1,837 an ounce as expectations of a large U.S. economic stimulus package bolstered its appeal as an inflation hedge.

Such expectations hit the dollar index, which dropped back on Tuesday after tripping at the end of last week on a weaker-than-expected jobs report. It was last down 0.091% at 90.868.

Against the yen, the dollar was down 0.12% at 105.10. – Reuters

Clubhouse app blocked in China, added to “Great Firewall” – users, activist

SHANGHAI – Access to U.S. audio app Clubhouse was blocked in China on Monday, users and an anti-censorship watchdog said, ending a brief window that allowed thousands of mainland users to join in discussions often censored in China.

Launched in early 2020, Clubhouse’s global user numbers soared earlier this month after Tesla CEO Elon Musk and Robinhood CEO Vlad Tenev held a surprise discussion on the platform.

Masses of new users joined from mainland China, taking part in discussions on topics that included sensitive issues such as Xinjiang detention camps, Taiwan independence and Hong Kong’s National Security Law.

However, users of China’s Twitter-like social media app Weibo began posting that they were having issues accessing the Clubhouse app on Monday evening. Some showed screenshots of a message the app displayed when they tried to open it which said a secure connection to the server could not be made.

Anti-censorship activist website GreatFire.org said on Twitter late on Monday that the app had been blocked for users in China at around 7 p.m. Beijing time (1100 GMT) that day.

Many Western social media apps including Twitter, Facebook and YouTube are banned in China, where the local internet is tightly regulated and often censored of content that could undermine the country’s ruling Communist Party.

Clubhouse did not respond to requests for comment. The Cyberspace Administration of China, the country’s top internet regulator, did not immediately respond to a faxed request for comment.

“Clubhouse has been walled,” said one Weibo user on Monday, referring to the system China uses to regulate its internet.

“This is just too fast,” said another.

Many Weibo posts discussing the blocking of the app were deleted from the platform by Tuesday morning.

The Clubhouse app is only available on iOS devices and is unavailable in the local Apple app store in China, but mainland Chinese users had been able to access the app by modifying the location of their app store.

As first reports of the internet disruptions began on Monday, nearly 3,000 users opened a room in Clubhouse to discuss whether it had been blocked by Chinese censors, with some expressing concerns that authorities could be monitoring discussions.

Some users urged others not to panic.

“Let bullets fly for a while. Let’s monitor for a few days first, don’t panic yet,” one user said. – Reuters

Property valuation reform pushed

REUTERS

By Beatrice M. Laforga, Reporter

THE DEPARTMENT of Finance (DoF) is pressing Congress to pass the remaining two packages under its comprehensive tax reform program (CTRP), including improving real property valuation and assessment in the country, before President Rodrigo R. Duterte’s term ends.

In a statement, the DoF said it would push the passage of the remaining priority tax bills such as the proposed Real Property Valuation and Assessment Reform Act and Passive Income and Financial Intermediary Taxation Act.

If passed, the first measure will establish a “single valuation base for taxation through the adoption of the schedule of market values of LGUs, and use the updated values as benchmark for other purposes, such as right-of-way acquisition, lease, rental, etc.”

The House of Representatives passed its version of the bill on third reading in November 2019, while the Senate version is still pending at the committee level.

The proposed passive income law, which aims to simplify the tax structure for financial instruments, was approved by the House in September 2019 but remains at the Senate committee level.

The government has less than two years to pass these two measures, as well as reforms on mining taxation and the Motor Vehicle Road Users’ Tax Act. Mr. Duterte will step down from office end-June 2022.

“As far as possible we want to finish all the CTRP packages,” Finance Assistant Secretary Maria Teresa S. Habitan said via Viber on Monday.

She said the DoF is also pushing for the passage of a bill that will reform the pension system of retired military and uniformed personnel, as well as the proposed Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) Act.

The Bureau of the Treasury (BTr) has warned that the expected liabilities for the military could balloon to P9.6 trillion if the automatic indexing of pension levels with salaries of active-duty personnel was not halted. The suspension of indexing can bring the costs down to P3 trillion.

The DoF said it would support the passage of amendments to the Public Service Act and Retail Trade Liberalization Act; the Warehouse Receipts bill; and a law converting the Insurance Commission  into a collegial body.

Albay Rep. Jose Maria Clemente S. Salceda said the House ways and means committee, which he heads, is set to tackle the remaining measures under the CTRP.

“I don’t believe this administration will have a lame duck phase, unlike other administrations. There is no let up in President Duterte’s popularity. Besides, we passed ‘sin’ taxes on tobacco in 2019 literally during the lame duck session of the 17th Congress. In short, don’t count the rest of tax reform out. I’m personally ready to go to bicam on both, anytime,” Mr. Salceda said in a Viber message on Sunday.

Meanwhile, Senate President Vicente C. Sotto III said senators are waiting for the Legislative Executive Development Advisory Council to brief them about the remaining CTRP measures.

Filipino entrepreneurs ride wave of food deliveries during pandemic

DEMAND for food delivery services soared during the coronavirus pandemic. — REUTERS

By Joseph Emmanuel L. Garcia, Reporter

THIRTY-YEAR-OLD Inah Rodriguez, who’s been selling baked goods for 15 years, diversified into dishes ranging from Indian to Italian to maximize profit amid a coronavirus pandemic.

A banker by career, the owner of home-based brand The Sweet Twist said a tenth of her operational costs go into packaging, an industry that has grown in the past year as more people ordered and had their food delivered on their doorsteps.

BW Bullseye 2020-focusMs. Rodriguez chose one of the biggest box manufacturing companies based in Sta. Mesa, Manila as one of her packaging sources. “When you’re the biggest supplier, you tend to sell it a little bit cheaper,” she said in mixed English and Filipino.

She is riding on a wave of prepackaged food during the pandemic, when there has been a newfound appreciation for single-use packaging versus waste reduction. Consumers expectedly want their food and its packaging handled by as few people as possible.

Everyone is jumping on the packaged food bandwagon after President Rodrigo R. Duterte locked down many parts of the country in mid-March to contain a global coronavirus pandemic.

A number of restaurants were forced to shut down, though some have managed to shift their business model to food delivery and through apps created by technology companies.

“More restaurants will go digital, and that is why resto meal kits and the availability of their proprietary ingredients will be their creative divergence, from regular food takeout or delivery,” Llena Arcenas, a manager at San Miguel Foods Culinary Center, told a recent online news briefing.

“It will also be their effort to relive and sustain the restaurant experience at home,” she said.

Revenue from San Miguel Corp.’s (SMC) prepared and packaged food segment grew by 9% in the nine months through October, as packaged food became an essential item for consumers under the so-called “new normal.”

Sales of canned meats such as Purefoods Corned Beef, SPAM and Tender Juicy Hotdog increased by double digits.

INCREASED DELIVERIES
“Dairy products and breakfast items were also big hits during the quarantine,” the company said in a statement. San Miguel also released a line of heat-and-eat versions of Filipino favorites such as kare-kare, a peanut-based stew.

SMC’s packaging business also increased deliveries to pharmaceutical, beverage and food customers as well as to the export market, according to its financial statement.

Australia, Malaysia and China operations remained stable, though sales still fell behind during the three quarters.

Total group revenue at Southeast Asian ride-hailing and food delivery company Grab jumped by about 70% year on year in 2020 and had recovered to comfortably above pre-pandemic levels, according to Reuters, citing President Ming Maa.

Almost 12,000 merchants joined the Grab platform in the Philippines at the height of the health crisis between March and June last year, according to a statement on its website. Sales of small businesses grew by at least 57% during the period.

The 2020 edition of the Tetra Pak Index cited changing priorities in a post-pandemic world. While consumer’s main concern in 2019 was the effect of their choices on the environment, last year, it was mainly about food and safety, according to the report.

More than two-thirds of consumers thought food safety is a major concern for society, it said. Uncertainty about the future triggered stockpiling and a sense of responsibility for future food security, according to the report.

Quarantines also served as a trigger for consumption occasions that included “all-day snacking, indulgence and home cooking.”

While most companies have trained their workers about proper product handling, extra care is needed to ensure compliance with health and safety standards.

There’s no evidence that handling or consuming food is associated with COVID-19, and the risk of getting sick with COVID-19 from eating or handling food and food packages is considered very low, according to the US Centers for Disease Control and Prevention.

Still, there’s no harm in being safe.

BIG HIT
Ian Carandang, founder of Sebastian’s Ice Cream, started selling online during the pandemic.

“This would normally not be that big of a deal if one’s products weren’t time-sensitive like cookies or bread,” he said in an e-mail. “But for ice cream, every second counts.”

Mr. Carandang said he spent months testing styrofoam containers in ice, freezer bags to keep ice cream dry and left the boxes out in the sun to simulate delivery conditions.

“We tested it to failure, seeing how long the ice cream stayed frozen under those conditions before it began to soften,” he said.

“Our staff was already trained for maximum sanitation and safety before this, so the only addition was instructing everyone to use masks,” the entrepreneur said. “We already practice food safety as a matter of procedure, and the only addition was to wipe down the pints before packing them for delivery.”

Expenses rose because of packaging costs, but the online business paid off.

Deliveries were a boon to Sebastian’s Ice Cream, which has a branch at The Podium mall in the Ortigas business district in Pasig City, during the Christmas holidays, Mr. Carandang said.

“Before, the company was never able to cash in on the Christmas food rush because ice cream could not be bought and given to people as presents,” he said. “Delivery finally allowed us to market ourselves as a viable gift option.”

In contrast, sales at its Podium branch were just 25% of what it was before the coronavirus, Mr. Carandang said.

“With the sales produced last year, I would say it was a hit,” Ms. Rodriguez said of her online dish business. “Considering that I’m only doing this part time, I’m surprised and at the same time feel blessed with continuous weekly sales.”

She’s adding more products to her menu and bringing back season’s favorites as the summer approaches, she said. “My goal is to open my own café, hopefully five years from now. I’m already excited. It’s a dream come true.”

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