Snippings

Does any

Americans for Common Cents is not a registered nonprofit, nor is it a business entity in Washington, D.C. In fact, it really only exists on paper and in cyberspace. ACC has the classic characteristics of a “front group,” a phantom organization backed by business, but with no visible ties to the business.

Weller denies ACC is a front group, and says he has been “very upfront that ACC has a major sponsor in Jarden Zinc Products.”

From: Saving the penny makes cents for zinc-backed front group – Center for Public Integrity.

xxx

Now that everyone in America has had their identity stolen, perhaps it is time to start thinking seriously about building a digital identity infrastructure. So let’s have a proper discussion about how this might work for individuals and organisations (and stop talking about putting chips in people and tracking them via 5G towers and so on).

 

About four months after a notorious hacking group claimed to have stolen an extraordinary amount of sensitive personal information from a major data broker, a member of the group has reportedly released most of it for free on an online marketplace for stolen personal data.

The breach, which includes Social Security numbers and other sensitive data, could power a raft of identity theft, fraud and other crimes, said Teresa Murray, consumer watchdog director for the U.S. Public Information Research Group.

From: 2.9 billion records possibly leaked in data breach: Protect yourself – Los Angeles Times.

xxx

xxx

Berkshire now has $277b in cash, much of which is invested in T-Bills, making the company a larger net holder of short-dated government paper than the US Federal Reserve

From: Ringing the bell – for a market top or the end of an era?.

xxx

xxx

Berkshire now has $277b in cash, much of which is invested in T-Bills, making the company a larger net holder of short-dated government paper than the US Federal Reserve

From: Ringing the bell – for a market top or the end of an era?.

xxx

xxx

🔍 The Whitehouse released the “REPORT ON POST-QUANTUM CRYPTOGRAPHY” as required by the Act and National Security Memorandum 10 (“NSM-10”).

This document is useful as it:
👉 Describes the US national strategy to transition to hashtag#PQC
👉 Estimates the funding needed
👉 Summarizes the work done already, mostly by NIST

Highlights:
💡 Estimates the existence of a Cryptographically Relevant Quantum Computer (CRQC) in the 2030s, in line with the my most trusted estimations.
💡 Recognizes quantum computing as a double edged sword: the U.S. Government must support the development of quantum computing to maintain competitive advantage in the future while preparing the defense from their threat.

From: (1) Feed | LinkedIn.

xxx

Wired Magazine (14th August 2013): There are our favorite sources of news covering the world of business and finance. From macro economics to microlending, these folks are all money when it comes to delivering high-value information:

Dave Birch is one of the few people tracking the global economy’s shift to digital payments in a way that’s neither DMV-dull nor Bitcoin-bananas.

From: 101 Signals: Want to Know Business? These Are the Only People You Need to Follow | WIRED.

I was honoured to be listed in the top 15, alongside people such as Ben Horowitz and Felix Salmon. Looking back, this list in Wired was a psychological turning point for me, telling me that my ideas had currency (sic) outside of colleagues and clients.

xxx

By 2026, at least 500 million smartphone users will be regularly making verifiable claims using a digital identity wallet built on distributed ledger technology, according to Gartner, Inc.

From: Gartner predicts 500 million smartphone users will be making verifiable claims using a digital identity wallet built on distributed ledger technology by 2026.

xxx

xxx

We found that people with more consistent grocery shopping habits are more likely to pay their credit card bills on time. These are people who tend to shop on the same day of the week, spend about the same amount each month, buy similar items across trips and take advantage of deals regularly.

We also found that what people buy predicts how they manage their finances. For example, shoppers who frequently purchase cigarettes or energy drinks are more likely to miss credit card payments. Those who often buy fresh milk or salad dressing tend to be more diligent about paying their bills.

In general, buying healthier but less convenient food predicted responsible payment behaviors. This was true even when we held consumer characteristics such as income, occupation, credit score and family size constant.

Building on those findings, we developed a credit scoring algorithm that scores people based on their grocery shopping habits along with traditional credit risk indicators. When we simulated approval decisions with this algorithm, we found that using grocery data could help lenders predict defaults more accurately while boosting their per-customer profits.

From: No credit score? A grocery list could be the next best thing.

xxx

xxx

According to the World Bank, more than 1 billion people worldwide lack access to formal financial systems and, as a result, have no credit scores. In the U.S. alone, about 45 million adults have no credit history or not enough of one to generate a score.

This makes it hard for them to access credit, even if they are responsible borrowers. And without credit, it’s harder to get a car, a job or even a place to live. It’s a problem that disproportionately affects underprivileged groups, including people of color and women.

Grocery data is especially promising because there’s so much of it. Pretty much everybody buys groceries, and not just once. Information about consumer preferences is continuously being generated in every aisle of grocery stores around the globe.

From: No credit score? A grocery list could be the next best thing.

xxx

xxx

By analyzing consumer-level data from those two business units, we were able to see how 30,089 individuals shop and manage their finances.

We found that people with more consistent grocery shopping habits are more likely to pay their credit card bills on time. These are people who tend to shop on the same day of the week, spend about the same amount each month, buy similar items across trips and take advantage of deals regularly.

We also found that what people buy predicts how they manage their finances. For example, shoppers who frequently purchase cigarettes or energy drinks are more likely to miss credit card payments. Those who often buy fresh milk or salad dressing tend to be more diligent about paying their bills.

From: No credit score? A grocery list could be the next best thing.

xxx