Nitish Chandra’s Post

The incoming Trump administration is set to grant unprecedented federal power to Silicon Valley moguls, with tech-friendly officials and policies permeating throughout government. The tech industry's most disruptive innovators aim to apply their ethos and thinking to governance, placing AI, crypto, and "move-fast, break-things" philosophy at the forefront of the new Washington agenda. This shift comes with America's technological lead over China hanging in the balance and vast fortunes at stake. A remarkable alignment of people, power, and momentum is expanding tech's influence in government. President-elect Trump has appointed David Sacks, a member of the "PayPal Mafia," as the new White House AI & crypto czar. Elon Musk, who has been living at Mar-a-Lago and accompanied Trump to Paris, is poised to become the second most powerful man in the world, pushing for "radical change" in government operations. Other tech luminaries are also taking on significant roles. Jared Isaacman, a tech billionaire, will head NASA, while Vivek Ramaswamy will join Musk in launching the Department of Government Efficiency (DOGE). Marc Andreessen and other tech leaders have been directly involved in interviewing potential top appointees for key government positions. The administration's focus on tech extends to policy as well. Trump has promised a "golden age of America," with a particular emphasis on cryptocurrencies. He's expected to promote crypto-friendly regulations, starting with his choice of Paul Atkins, a crypto advocate, to chair the Securities and Exchange Commission. This shift towards tech-centric governance is not without its critics. Some argue that this represents a small but vocal group of tech stars with a libertarian ethos that doesn't necessarily reflect the Valley as a whole. However, supporters like Joe Lonsdale argue that this influx of tech talent brings optimism and a willingness to confront waste and find solutions in government. The implications of this tech-driven administration are far-reaching. Huge federal contracts are expected to stem from Trump's disruption of government, potentially benefiting Musk and his associates. Defense acquisition, healthcare, and veterans affairs are seen as potential goldmines for contracts to modernize systems and implement new technologies. As Andreessen tweeted, "political power >> financial power every day of the week." This sentiment encapsulates the tech industry's growing realization that to truly shape the future, they need to be at the helm of not just innovation, but also governance.

🚀 Join our Business Breakfast tomorrow! We’re excited to have Paul S., CEO and Chief Architect of paywith.glass B.V., Paul Sisnett is a veteran telecommunications engineer who has served as an architect for cloud and telecommunications infrastructure projects across multiple jurisdictions for the better part of the past 2 decades. He now sits as CEO and Chief Architect of paywith.glass B.V., the Dutch technology house that is poised to reshape the world’s financial system. The mass adoption of any new form of money will shape the future of our global civilization. As innovators and disruptors, we must carefully examine societal impacts in the design of tokenized digital assets, CBDCs and other digital currencies. We must recognise our responsibility to future generations who will ultimately be shaped by the execution of our ideas, today. paywith.glass is a Digital Asset/Real-Time Payment (DA/RTP) infrastructure which seamlessly blends the speed of real-time payments with Satoshi Nakamoto’s peer-to-peer electronic cash vision. It addresses existing system limitations by introducing robust privacy constructs, security measures and anti-exploitation features while preserving scalability. This infrastructure stack has been designed through the blending of careful academic research and expert industry collaboration at every step. Its development has considered the societal impact and the technical and economic risk factors that must be mitigated for it to be deemed fit for purpose. At the dawn of a new era for the world’s money, we collaborate with the brightest minds of our generation – the leading experts in payments, cryptography, macroeconomics and AI. Through the paywith.glass Digital Asset/Real-Time Payment (DA/RTP) infrastructure, we serve as the architects of the Internet for the world’s money. Limited seats available – Register at: https://lnkd.in/eSYjfYJH

8 weeks into the new role. I have a better feel for Google, its place in the Financial Services industry and how I expect to help. If you don’t know much about Google Cloud in the world of finance I’m not surprised. Culturally I think this is the most humble organisation I have worked for yet its engineering excellence is beyond anything I have ever experienced. The customer collaboration stories are so strong and so genuine..perhaps we should be talking about it a little more…. We’re helping to reduce financial crime: HSBC conducts anti-money laundering checks on over 1.2bn financial transactions a month. Using Google AI the Bank is now able to identify up to four times as much suspicious activity as the previous system, whilst reducing the number of alerts by as much as 60%. We’re helping sales teams win more: Hiscox has worked with Google to create an industry-first AI model to automate the underwriting of property damage policies due to acts of terrorism or sabotage. In the past this took days and teams to assess the risk before quoting. Quotes now take minutes. We’re helping clients to capture major market transitions: Not long after the SEC approved the spot bitcoin ETFs, Deutsche Borse announced the launch of the Deutsche Börse Digital Exchange (DBDX), a crypto spot platform for institutional clients powered by Google Cloud. DBDX offers a fully regulated and secure ecosystem for trading, settlement and custody of crypto assets. We’re helping clients to make more sense on the tsunami of market data: Grappling with the tsunami of market data when making capital allocation decisions necessitates the use of AI. Chicago Mercantile Exchange is working with Google Cloud to enable investors to access the market data they want, when they want it. Real-time, cloud based market data can be accessed, consumed and paid for as needed with access to AI powered analytical tools to help gather the insights they need. These are just a few examples. The diversity of projects and collaborations in FSI is vast but ALL of these are real and public. I’m humbled to be leading our efforts in EMEA and looking forward to adding to this already long list of pretty cool customer stories.

The CFPB's recent move to regulate Google marks a significant shift in the tech landscape. As scrutiny increases on major tech companies, understanding the implications of these regulations is crucial for businesses operating in the digital space. ➡️ https://lnkd.in/gKsEREus What strategies do you think tech companies should adopt to stay ahead of regulatory changes? Tech leaders, connect with us at Social Success Marketing® to explore how we can support your growth amidst evolving regulations #TechIndustry #socialsellingb2b #fintech

DOGE President-elect Donald Trump has announced the formation of a new Department of Government Efficiency (DOGE), which will be led by Elon Musk and Vivek Ramaswamy. This department aims to streamline government operations, reduce bureaucracy, and cut wasteful expenditures. Elon Musk and Vivek Ramaswamy have been chosen for their innovative approaches and strong advocacy for efficiency. Musk, known for his leadership at Tesla and SpaceX, has been a vocal supporter of reducing government waste. Ramaswamy, an entrepreneur and former GOP presidential candidate, has also emphasized the need for significant reforms in federal agencies. The acronym DOGE is a playful nod to the popular cryptocurrency Dogecoin, which Musk has famously supported. The Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy, has several key goals: Streamlining Operations: Simplifying and optimizing government processes to make them more efficient and less bureaucratic. Reducing Waste: Identifying and eliminating unnecessary expenditures to save taxpayer money. Enhancing Transparency: Improving the transparency of government operations to build public trust. Promoting Innovation: Encouraging the adoption of innovative technologies and practices within government agencies. Improving Service Delivery: Ensuring that government services are delivered more effectively and efficiently to the public. DOGEwill measure its success through several key performance indicators (KPIs): Cost Savings: Quantifying the reduction in government expenditures and wasteful spending. Process Efficiency: Measuring the time and resources saved through streamlined operations and reduced bureaucracy. Public Satisfaction: Gauging public satisfaction with government services through surveys and feedback mechanisms. Transparency Metrics: Tracking improvements in transparency and accountability within government operations. Innovation Adoption: Assessing the implementation and impact of new technologies and innovative practices in government agencies. These metrics are expected to help DOGE evaluate its effectiveness in achieving its goals. However, it shall face several Challenges, starting from resistance from Bureaucracy, political opposition, resource limitation, complexity of implementation across diverse agencies and public distrust etc..

The Changing of the Regulatory Winds is Inevitable The web3 space has witnessed transformative growth and innovation since its inception. However, the regulatory landscape has been murky at best, with incumbents and administrative bodies seemingly intent on stifling progress. The journey has been filled with significant challenges, particularly in the United States. Having been deeply embedded in this space since 2014, I've observed firsthand the potential of decentralized technologies and the obstacles they face. Operation Chokepoint [1] is an example of a coordinated campaign by unelected bureaucrats to prevent regulatory clarity, despite lacking a popular mandate. This regulatory turf war has caused collateral damage, with investments in web3 companies dwindling [2], US entrepreneurs fleeing to build elsewhere [3], and innovators facing Wells Notices [4] and regulatory actions merely for thinking outside the box. It paints a grim picture, seemingly at odds with American principles of entrepreneurship. But, there is light at the end of this regulatory tunnel. As we are less than 90 days away from the 2024 election, critical issues, including the future of web3 in the USA, hang in the balance—though mainstream media might not highlight this. Examples come from all sides of the political spectrum: 1. Independent candidate Robert Kennedy Jr. proposes a strategic Bitcoin reserve to match the gold reserve [5], ensuring the United States holds nearly 20% of all Bitcoin that will ever exist. 2. Similarly, Republican candidate Donald Trump suggests using Bitcoin to address the $31 trillion deficit [6]. 3. Even Democrats are signaling change. As highlighted in a letter by a group of Democratic representatives, "Representing the emerging stance of the Democratic Party and the United States, leaders such as Senate Majority Leader Chuck Schumer, Speaker Emerita Nancy Pelosi, and a majority of House Democratic leadership have recently supported pro-digital asset legislation." They further urge the administration to "include pro-digital asset language in the party's platform" and to engage with industry experts to craft policies that encourage growth while ensuring consumer protection and financial stability [7]. The United States will be a leader in the web3 space. The technology is here to stay, and the waves of innovation accompanying it are unstoppable. After all, AI agents won't be opening bank accounts at physical banks anytime soon. The machine economy will use web3 protocols—it's not a matter of if, but when. #Web3 #Regulation #Innovation #FutureOfFinance [1] - https://lnkd.in/evJze9du  [2] - https://lnkd.in/egi4esiP [3] - https://lnkd.in/eTC4WA-T [4] - https://lnkd.in/eq2-gkZM  [5] - https://lnkd.in/egSaBWut  [6] - https://lnkd.in/ePZ_RtEm [7] - https://lnkd.in/ecVCwSkK

Highlighting: "Donald Trump said that he has tapped Elon Musk, working along with Vivek Ramaswamy, to lead what he calls the Department of Government Efficiency — or DOGE, a nod to cryptocurrency. ----- I can't even make this shit up. The next four years are going to be strange, but not in a smart or ironic way. More a roll your eyes and a seriously, are these people 7 years old way. Dismantling the Dept of Education, the EPA, and the NOAA and NWS? I'm sorry but this is just flat out stupid. Denying climate change for example does not make Hurricanes go away. And if you don't track hurricanes, it'll be worse when they hit. Hiding under one's bed with eyes closed does not make hurricanes disappear. ----- Deadline: "Donald Trump Taps Elon Musk And Vivek Ramaswamy To Lead “Department Of Government Efficiency” Donald Trump said that he has tapped Elon Musk, working along with Vivek Ramaswamy, to lead what he calls the Department of Government Efficiency — or DOGE, a nod to cryptocurrency. Musk and Ramaswamy will be tasked with setting the stage for a dismantling of the government bureaucracy, slashing regulations and cutting wasteful expenditures, the president-elect said. Trump already had signaled on the campaign trail that Musk would lead such an effort. During the presidential campaign, Trump called for eliminating the Department of Education, while other agencies, like the EPA, would be downsized. The Heritage Foundation’s roadmap for the next administration also called for the dismantling of the National Oceanic and Atmospheric Administration, which includes the National Weather Service. In a statement, Musk said, “This will send shockwaves through the system, and anyone involved in Government waste, which is a lot of people!” Trump called the effort “potentially, ‘the Manhattan Project’ of our time.” There is currently no actual congressionally approved, Cabinet-level “Department of Government Efficiency.” It was unclear whether Trump plans to create such a department or if Musk and Ramaswamy would be taking the posts as unelected figures who bypass the Senate confirmation process. But Trump said that they would work to achieve the kind of large-scale reform that Republicans long have called for at the federal level. “I look forward to Elon and Vivek making changes to the Federal Bureaucracy with an eye on efficiency and, at the same time, making life better for all Americans,” Trump wrote. “Importantly, we will drive out the massive waste and fraud which exists throughout our annual $6.5 Trillion Dollars of Government Spending.” Musk endorsed Trump in July and later campaigned for him. He’s been a presence during the transition and reportedly participated in a call last week that the new president-elect had with Ukrainian President Volodymyr Zelensky. Ramaswamy ran in the Republican primary and later became one of Trump’s campaign surrogates." Deadline: https://lnkd.in/gK9iA__j #dumb #fustercluck #sciencedenial

When Milliseconds Mean Millions As we discussed last week, low latency isn't just an irksome problem... It's an extremely expensive one! Inside the world's largest banks and trading firms, the chase is always on. Algorithms race to execute orders in tiny fractions of a second before competitors can sniff out the opportunity. But even microscopic lags of a single millisecond are the difference between a multimillion-dollar payday and getting pipped at the post. Yet many financial giants are still shackled by aging infrastructure originally built before low-latency was a life-or-death priority. Studies show outdated private networks silently siphon an average $500k per minute from top players during market peaks as traffic takes the scenic route rather than the fast lane. Without visibility or controls to optimize workloads and prioritize critical applications in real-time, latency slowly strangles balance sheets. At one prominent European bank, independent analysis reveals their sprawling WAN levies a whopping $50M annual cost just from congestion-induced delays! We at rBlox call it the ‘Latency Tax’. The stakes have never been higher for networks to evolve beyond hardware and earnestly support today's cut-throat trading landscape. That's why we're thrilled to announce the launch of the rBlox Beta - a fully modular non-IP network software built from the ground up to tackle low-latency headaches. Contact us to learn how rBlox aims to liberate financial giants from the invisible millions drained away in their own networks each year. Just click here to fill in the short application form and our team will handle the rest! https://lnkd.in/eBjuzrdg A new era of hyperfast, agile connectivity is here - which major players will be first to future-proof their fleets?

💥 Feeless: Let's Dive into Gauges and Tokenomics! Dear Feeless community, Today, we want to delve into two fundamental components of our protocol: the Gauges and the tokenomics. We are excited to share with you how these elements work together to incentivize participation and ensure the long-term success of Feeless. Gauges: What They Are and How They Work Gauges are mechanisms that allow for the efficient and transparent distribution of liquidity incentives. Users who lock their wFLS to obtain veFLS can vote to determine which liquidity pools will receive more wFLS emissions as rewards. This voting system ensures that incentives are distributed according to the community's preferences, promoting decentralized and participatory governance. veModel: Your Voting Power The vote escrowed (ve) model allows users to lock their wFLS to receive veFLS, granting voting rights proportional to the amount and duration of the lock. The longer you lock your wFLS, the greater your voting power. This model encourages users to commit long-term, aligning their interests with the success of Feeless. Tokenomics: Balance and Growth Feeless's tokenomics are designed to create a balance between rewards and sustainability. Here's how it works: wFLS (Governance Token): Used to vote on general protocol proposals. To gain voting power over Gauges and the distribution of incentives, FLS must be locked to obtain veFLS.IOTA (Native Token): Used for transactions within the protocol, replacing ETH and ensuring fast and feeless operations. Fee Distribution:Liquidity Providers in the wFLS-IOTA (80/20) Pool: Receive veFLS, which grants voting power and entitles them to 75% of the protocol fees. Protocol Owner: Receives 25% of the protocol fees. Pool rewards are paid out through wFLS emissions, providing direct incentives for liquidity providers participating in our ecosystem. We are currently in the testing phase and maintaining a tokenomic structure similar to Balancer's to ensure stability and predictability while we refine our system. Thank you for being part of the Feeless community! Together, we are building the future of decentralized finance. Follow us on Telegram : https://t.me/feelessltd Roger Giuffrè Denis Giuffre'

I note here that, traditionally, governments pick targets for taxation the way Willie Sutton picked banks as a target for robbery, that is "because that's where the money is". (This may be apocryphal, Sutton later remarked it was so obviously true as to not require being said.) Here Michael Hartnett tells us that governments the world around have seen a new golden-egg laying goose.... In this case, it's important to an observer of the US economy because 1) the "Magnificent Seven" have been supporting (levitating, even) the equities market, and incidentally driving investment decisions like "do I invest in a GPU chip factory", and 2) our current good economic fortune is heavily dependent on the government spending as if there is no tomorrow (see deficit and GDP identity.) So, the idea that governments have started to consider directly taxing the goose for some golden eggs is an interesting development, and not just if you have a good chunk of your 401(k) in the S&P500. #taxes #equities #gdp #deficit #spending #economy #maginficentseven