BusinessMirror June 09, 2019

Page 1

DEPARTMENT OF SCIENCE & TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

BusinessMirror

www.businessmirror.com.ph

A broader look at today’s business n

Sunday, June 9, 2019 Vol. 14 No. 242

2018 EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR

P25.00 nationwide | 2 sections 16 pages | 7 DAYS A WEEK

TECH ADVANCEMENT PAVES THE WAY FOR BIRTH OF NEW ELECTRONIC NEGOTIABLE INSTRUMENTS

DEMYSTIFYING

VICHAI VIRIYATHANAPON | DREAMSTIME.COM

CRYPTO CURRENCY By Bianca Cuaresma

I

N the recent decade, technological advances have been a boon to the financial industry—with the sector experiencing several breakthrough advancements by the turn of the year.

Among the most recent advances to global financial services is the rise of crypto currencies, particularly the so-called bitcoins. Virtual currency—bitcoins in its most popular form—is a form of digital money that rose to popularity only in recent years. Unlike electronic money that is backed by cash for the entirety of its val-

ue, bitcoins are not backed by any commodity but by the ability of the holder to exchange them for goods. As bitcoins become a buzzword in the financial technology world and strong demand has been seen for this type of virtual currency, its prices have been effectively propped up at an amazing speed. Because of the quick rise in bit-

coin prices, several fraudsters have come in to lure people to invest in bitcoins with a promise of “getting rich” fast. This does not only create financial instability to the investors of bitcoin scams, but it also spreads an uneducated “fear” of using and getting involved in crypto currencies in general, thereby, missing out on the opportunities

brought by the new financial technology advancement. In his book entitled Bitcoins and Blockchains for Beginners, Earl Dorado claims that bitcoin is not a scam and that people need further awareness and education for them to reap the benefits of this new technology. Continued on A2

Mass shootings transform how America talks, prays, prepares By Sharon Cohen & Lindsey Tanner | The Associated Press

C

HICAGO—Pardeep Singh Kaleka has surveyed the landscape of an America scarred by mass shootings. Seven years ago, a white supremacist invaded a Sikh temple in Wisconsin and killed six worshippers—among them Kaleka’s father, who died clutching a butter knife he’d grabbed in a desperate attempt to stop the shooter. Now, whenever another gunman bloodies another town, Kaleka posts a supportive message on social media. Then later, either by invitation or on his own initiative, he’ll journey to the community to shore up others who share his pain. He’s been to Newtown, Connecticut. Charleston, South Carolina. Pittsburgh. “We’ve become kind of a family,” Kaleka says.

It’s true. The unending litany of mass shootings in recent years—the latest, last Friday, leaving 12 dead in Virginia Beach, Virginia—has built an unacknowledged community of heartbreak, touching and warping the lives of untold thousands. All the survivors, none of them unscathed. The loved ones of the living and the dead. Their neighbors, relatives and colleagues. The first responders, the health-care workers, the elected officials. The attacks have changed how America talks, prays and prepares for trouble. Today, the phrases “active shooter” and “shelter in place”

PESO EXCHANGE RATES n US 51.7720

IN this October 26, 2016, file photo, first responders hold a flag on the court as the national anthem is played during a tribute to the victims of the Pulse nightclub shooting prior to a National Basketball Association basketball game between the Orlando Magic and the Miami Heat in Orlando, Florida. The attack left 49 people dead; the shooter was killed after a three-hour standoff with the police. AP

need no explanation. A house of worship will have a priest, a rabbi or an imam—and maybe, an armed guard. And more schools are holding “lockdown drills” to prepare students for the possibility of a shooter. Post-traumatic stress disorder (PTSD) was once largely associated with combat-weary veterans; now some police and firefighters tormented by the memories of the carnage they’ve witnessed are seeking professional help. Healing centers have opened to offer survivors therapy and a place to gather. Support groups of survivors of mass shootings have formed. Mayors, doctors, police and other leaders who’ve endured these crises are paying it forward—offering comfort, mentoring and guidance to the next town that has to wrestle with the nightmare. Former Oak Creek Mayor Stephen Scaffidi, who’d been on the job just four months at the time of Continued on A2

n JAPAN 0.4776 n UK 65.7608 n HK 6.6034 n CHINA 7.4934 n SINGAPORE 37.9672 n AUSTRALIA 36.1161 n EU 58.3885 n SAUDI ARABIA 13.8059

Source: BSP (June 7, 2019 )


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