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The Importance of Standards in Fire Equipment Manufacture – FireEngineering.com

The Importance of Standards in Fire Equipment Manufacture

The following are excerpts from an address by A. R. Small, vice-president, Underwriters Laboratories, read before the Western Association of Electrical Inspectors, at their annual meeting held in Memphis, Tenn.:

The Underwriters Laboratories part in the great war is a part of two phases or divisions. The first and original part, a close analysis at the present time will show, is the greatest part that we are playing in the war. I refer to the Standards of Underwriters Laboratories. I had the pleasure of addressing a meeting in Chicago a couple of months ago, a meeting of manufacturers of acetylene appliances, and entertain them, I hope, for a few moments with the thought that the work which the Underwriters Laboratories has previously done in cooperation with manufacturers, electrical inspectors and others in the preparation and operation of standards had quite a significance in connection with carrying on the war. I reported to the audience and will take up your time in reporting to you the value to the United States government of work which has been done at Underwriters Laboratories since 1914 in cooperation with the manufacturers of cotton rubber-lined fire hose.

Specifications for Hose.

Several members of the staff devoted a great deal of time in that year to a careful analysis of existing specifications for fire hose, such as used in municipal fire departments and also in private plants. An agreement was reached with the manufacturers and others interested officially as to a common specification for fire hose. That specification was put into force and gradually was applied in the factories of twelve principal manufacturers of fire hose in this country. On August 15, 1917, the quartermasters department of the United States Army concluded that it wanted fire hose in the new training camps and wanted it at once. Its attention was called to the standards which Underwriters Laboratories had prepared and promulgated and to the work which manufacturers of fire hose had been doing with the Laboratories, with the result that the quartermasters department telegraphed twelve manufacturers of fire hose inquiring as to when they could begin to ship fire hose conforming to this specification and labeled by Underwriters Laboratories. On the 22nd of August, seven days after the department realized its need of fire hose, the twelve factories began to ship and before the 15th day of November twelve factories had shipped in excess of one million feet of 2 1/2-inch single jacket fire hose to each one of the sixteen principal cantonments for the National Army and to each one of the training camps for the National Guard. The manufacturers of fire hose were prepared. The reason they were prepared was because this standard had been worked out long previous to the war and in this particular case had been applied in their plants. As you know, it is the policy of the government to send its own inspectors to every factory where government materials are being manufactured. It was not necessary in this case for the government to enlist, train, equip and send to twelve factories twelve or more new inspectors who had to be broken into the work of examination and testing of fire hose. The inspectors of Underwriters Laboratories were already active in these plants, examining and testing fire hose to be shipped to the municipal fire departments and to the plants of private property owners. As a result, the manufacturers were able to start in immediately with the production of hose along a schedule with which they were already familiar, having the work supervised by an inspector already acquainted with the peculiarities of fire hose and the things which it is necessary to watch in testing it. Each 50-foot length of this more than 1,000,000 feet of fire hose was subjected to a pressure of 300 pounds at the factory, its elongation from ten pounds up to 300 pounds being measured, lengths having excessive elongation or otherwise not conforming to specifications being rejected. In one case our inspector one morning turned down 20,000 feet of hose and the manufacturer had no trouble in convincing himself that the inspectors action was proper.

Insulated Wires.

Similiarly in the case of insulated wires, at the beginning of the war the navy department decided it wanted 3,000,000 feet of 14 duplex, lead covered and it wanted it quickly and it wanted it to be tested. There again through Standards of Underwriters Laboratories it was not necessary for the navy to train a crew of new inspectors to go into twenty-six factories and learn how to inspect goods at the cost, of delay in shipping them out. Our inspectors at the wire plants were thoroughly familiar with all of the problems in examining and testing lead-covered cable and the material was delivered to the navy department with the very least possible delay.

The other phase of Underwriters Laboratories part in the great war is one which I feel that we have very little right to brag about, because every one of you, every one everywhere, every loyal citizen, every corporation or organization composed of loyal citizens is taking a similar part in this great war. Out of a staff of 120 people at the Chicago, out of a staff of 26 additional people, I think it is, at the Pittsburgh, New York and Boston offices we have on our service flag 31 stars.

In Touch with Government.

We are in constant touch with one or the. other departments in Washington. It is my own privilege to correspond with some engineer of the Bureau of Yards and Docks, some engineer of the Quartermasters Department, some representative of the Fleet Corporation almost daily, sometimes several times each day, giving them what information is available in our records and from the experience of the members of our staff on almost everything from oxygen acetylene welding or cutting plants to roll roofing, from rubber hose to methods of testing molded insulation, from actual factorv inspection work on cartridge enclosed fuses to how to install a fire door. Many large depots for the storage of ammunition of one kind and another are being erected in France and here. Each one of these depots has a number of tin-clad doors on them to prevent the spread of fire from one depot to another. These doors are all hung with Underwriters Laboratories standard fire door hardware. The doors themselves are all Underwriters Laboratories standard, are inspected at the factory and labeled. Very often the government has need for special information as to how this or that particular form of device will work. There have been a number of serious fires in warehouses of different kinds and it is now planned to equip all government plants with a special form of fire extinguisher. The installation of automatic sprinkler equipment, I understand, has been considered as too expensive, but a special form of fire extinguisher is to be installed in each one of them. The engineers of Underwriters Laboratories are being consulted daily as to how fire extinguishing appliances can properly be applied in these warehouses for their protection. Manufacturers of hand extinguishers are working night and day turning out standard appliances which are inspected, tested and labeled by the Underwriters Laboratories before these devices are accepted by the Quartermasters Department or the Navy Deparment for delivery. Each member of the staff of the Chicago office has an opportunity in some way to serve directly. Many of us feel that we would like opportunity to serve more directly. I presume in that feeling we are in no way different from any one of you in your own business.

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Meet the woylie, an eco-engineer bringing life back to degraded ecosystems – ABC News

In the early hours of the morning Adrian Wayne carefully peels back the edges of a dark clothbag.

Inside is a recently trapped brush-tailed bettong, known in Western Australia asa woylie.

Crouched on the floor of dense bushland, the senior research scientist meticulously inspects the small, but feisty marsupial.

"He's a four for body condition,he's got a good amount of meat on him" Dr Wayne says.

The health of thiscritically endangered species is important.

The woylie once inhabited60 per cent of mainland Australia, but predators like cats as well as habitat loss has seen the species reduced to just two indigenous populations, including one monitored by Dr Wayne in the Upper Warren region of WA.

ABC South West: Kate Stephens

Population and health checks are conducted regularly by the Department of Biodiversity, Conservation and Attractions.

Recent trappings havefound their numbers are on the rise.

"They are still recovering from a pretty severe decline they had about 10 years ago," said Dr Wayne.

"They are probably at about 50-60 per cent of where they used to be, so they are making good progress."

ABC South West: Kate Stephens

The woylie is a unique creature. Its small diggings for food can move an estimated six tonnes of dirt each year.

"We call them an ecosystem engineer," said Dr Wayne.

"They're digging up the soil creating seed beds for new seeds and new plants to grow.

"All that soil turnover, all that spreading of fungispores and of plant seeds massively transforms our bush and keeps it healthy."

It is for that reason this little eco-warrior is getting ready for a big journey.

ABC South West: Kate Stephens

The woylie will be the first of an estimated 20 species to be translocated to the Yorke Peninsula in South Australia over the next two decades.

The innovative project, more than a decade in the making, has seen 150,000 hectares of land, which includes farm land and national park, turned into a semi-protected animal haven.

"It's really quite ground-breaking," said Darren Grover, World Wildlife Fund-Australia's (WWF) head of healthy land and seascapes.

"Instead of planting trees or pulling out weeds, we're bringing back locally extinct mammal species."

WWF: Raelene Lihou

WWF Australia has partially funded the project which aims to bring life back to the degraded landscape and ecosystem on the Peninsula.

A 25-kilometre fence is being built at the foot of the peninsula to try to reduce the impact of feral cats and foxes.

"This is a living landscape there aretowns and villages within the fenced area and there areroads, driveways and there area number of gaps in that fence," Mr Grover said.

"That means that animals can still move in and out of that area but it means animals like foxes and feral cats can be targeted."

ABC South West: Kate Stephens

Twenty woylies are expected to be sent from the Upper Warren region to the Peninsula in June, and over time another 80 will follow.

Adrian Wayne said sending woylies from an original population wouldgive the translocation the best chance of success.

"It's giving them the numbers to be able to start a founder population, and the genetic diversity that's going to allow that species to adapt to that new environment in the very best way it possibly can."

Reintroducing a species is nothing new, but the Yorke Peninsula project is ambitious due to its size and scale.

With 30 mammals already extinct in Australia and 100 on the brink Adrian Wayne believes this project could pave the way for species recovery across the country.

"This is our legacy and this is our heritage," he said.

"Getting these animals back into the bush is good for the bush and it's good for the country."

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What Is Chainlink and Why Is It Important in the World of Cryptocurrency? – Yahoo Finance

gopixa / iStock.com

Blockchain has seen a staggering rise in popularity since Bitcoin, the first cryptocurrency, launched in 2010. Blockchain has a number of advantages, including decentralization and security. The demand for a decentralized currency has catapulted Bitcoin and other cryptocurrencies to worldwide popularity.

Read: Bitcoin Cash (BCH): Hows It Differ From Bitcoin and Whats It Worth?

But blockchain has its limitations. These systems are inherently closed off from the rest of the world, which is good for security and integrity but also limits the input data they can accept.

Thus, there is a need for a sort of bridge that can help these systems see what is happening in the outside world. But in order for the system to work, the input cannot come from a single source. Why? Because it would then rely on a centralized source of data, which goes against the very nature of blockchain.

See: India Proposes Ban on Bitcoin and the US Could Be Next

That is the very problem Chainlink can help solve, as we will find out.

Chainlink is a decentralized oracle network that is poised to play an important role in the real-world implementation of blockchain technologies. The purpose of this network is to provide input on a variety of external sources of data.

Although blockchain is great at what it does providing a decentralized, secure ledger for digital transactions it isnt so great at taking input for things happening outside the blockchain. There are many off-chain forces that influence markets, including fiat currencies, credit cards and even the weather and sports scores. As a decentralized oracle, Chainlink can provide input to whats known as smart contracts.

Find Out: Why Some Money Experts Believe In Bitcoin and Others Dont

These smart contracts help the system respond to a wide range of input (if X, do Y). As the first cryptocurrency, Bitcoin and its corresponding blockchain can only process a small range of this input. But newer blockchains, such as Ethereum, have a wider range. That includes support for programmable smart contracts.

Story continues

On that note, Chainlink was launched on the Ethereum blockchain in 2019, but it is meant to be agnostic. Thus, it can work with other blockchains, too.

LINK is Chainlinks native token. The token is meant to help finance the growth of the project and is similar to Bitcoin (BTC) and Ethereum (ETH). Both of these cryptocurrencies work on their respective blockchains. Just like BTC and ETH act as an incentive for users to mine, LINK does the same.

More: The Hype Around NFTs: What Are They? And How Pricey Do They Get?

The LINK token launched in 2017 with a price under 20 cents and remained under $1 until 2019. In 2020, the price began to rise precipitously. In fact, the price increased from under $2 in early 2020 to a high of $36 on Feb. 20, 2021.

Despite LINKs meteoric rise, though, it has since dropped from its high of $36 and hasnt yet reached that level again. In fact, the price dropped nearly $10 by March 1, 2021.

As you may have gathered from the above, the value of LINK remains volatile despite its huge gains since early 2020. Therefore, it may be best to invest in LINK only as a way to support the underlying technology. Otherwise, the high degree of volatility may be too much to bear for most investors.

Read: How Does Cryptocurrency Work and Is It Safe?

Nevertheless, Chainlink looks to be an important technology as cryptocurrencies continue to evolve. Having an oracle such as Chainlink in place will be key to the long-term stability and viability of cryptocurrency in general. Thus, LINK may be a sound investment if you believe Chainlink will become the industry standard as the most widely-used, decentralized oracle network.

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Last updated: April 1, 2021

This article originally appeared on GOBankingRates.com: What Is Chainlink and Why Is It Important in the World of Cryptocurrency?

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Wary insurers watch cryptocurrency craze from the sidelines – Business Insurance

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Risk Management

(Reuters) If Elon Musk's Tesla wanted to insure all of its recent $1.5 billion bitcoin investment against the myriad of pitfalls it could encounter, like hacks, theft and fraud, it would be out of luck.

Insurers have yet to catch up with the growing acceptance of cryptocurrencies as an investment and in commerce: Mr. Musk said last month Tesla's customers can now use bitcoin as payment.

Scant regulation and volatile prices of bitcoin and other cryptocurrencies make many insurers reluctant to underwrite the risks, despite booming demand for protection of digital assets and for personal liabilities of directors and executives of companies that deal with cryptocurrencies.

Insurers and brokers estimate that of the few that provide suchinsurance, none can offer coverage beyond $750 million for any client.

Tesla did not respond to a Reuters request for comment.

The risks are considerable, with U.S.-based cybersecurity company CipherTrace estimating reported losses from theft, hacks and fraud totaling $1.9 billion in 2020.

Insurers have only a finite capacity that they can write in this space so it really is a case of getting in quickly, said Ben Davis, lead for emerging technology and internationalinsurancewith Superscript, a Lloyds of London broker with cryptocurrency clients.

But while both crime and demand for protection have tracked cybercurrencies' meteoric rise, underwriting such risks remains a niche business offered by specialist insurers in the Lloyds market and in Bermuda. Insurers who spoke to Reuters declined to be named while discussing such a sensitive business area.

The high risk of hacking means smaller companies seeking protection for their hot wallets digital assets stored online - can typically get just about $10 million covered, with the largest limits rarely exceeding the $100 million to $200 million range, insurers and brokers said.

Demand rising fast

Legal ambiguity surrounding the assets, with top regulators from across the world calling for global rules for cryptocurrencies, also acts as a deterrent for insurers.

Cryptocurrencies have struggled to win the trust of mainstream investors and the general public due to their speculative nature and potential for money laundering.

Insurancefor directors and executives of cryptocurrency companies, such as exchanges or custodians seeking to protect their personal assets, is also in short supply, brokers and insurers said.

A potential large drop in the value of cryptocurrencies could trigger lawsuits from investors, which in turn could leave the insurer on the hook if the suit affected the personal assets of a companys executives.

Insurers get concerned because when theres volatility they end up holding the bag, Davis said.

Mr. Davis added that Superscript has to put in "a lot of work" to get directors and officers cover for clients.

Brokers say they see growing demand they just cannot match with sufficient supply.

Jacqueline Quintal, U.S. digital asset leader at Marsh LLC, the world's biggestinsurancebroker, said she was fielding calls from companies seeking protection for their assets, or individuals running them, a couple of times a week, compared with once every other week about six months ago.

Just a huge rush to buyinsurance. Period, she said.

Superscript's Mr. Davis said demand has doubled, if not tripled since January over the same time last year.

Many custodians and cryptocurrency exchanges are also looking to increase the limits in their existing policies as the value of cryptocurrencies has risen, insurers and brokers said.

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What Is Filecoin and Why Is the Cryptocurrency’s Price Going Up? – Newsweek

Filecoin, a type of cryptocurrency, has jumped in popularity this year to become one of the top ten biggest cryptocurrencies in the world.

Cryptocurrency market price tracker Coinmarketcap listed Filecoin ninth in its list of cryptocurrencies by market capitalizationthe total value of a cryptocurrency's circulating supply.

Filecoin's market cap is currently $13.4 billion, ahead of Litecoin in tenth place with $13.1 billion. Bitcoinby far the most popularhas a market cap of $1.1 trillion.

Each Filecoin was worth around $214 and up around 42 percent in the past 24 hours at the time of writing. According to Coinmarketcap, Filecoin's price was up more than 150 percent over the past seven days as of Thursday morning.

One reason behind the price jump could be that global crypto asset manager Grayscale added Filecoin as an investment trust in March.

Filecoin has also seen support in China, where regional reports show the computer hardware firm Xinyuan Technology Co. invested $89 million into technology associated with the cryptocurrency, Bitcoin.com reported.

The Filecoin token is the currency behind the wider Filecoin networkessentially a cloud-based storage system that is operated by its users, rather than a central owner. Filecoin was designed by Protocol Labs.

The network aims to compete with existing cloud storage services such as those offered by Dropbox or Google. Both offer a certain amount of cloud data storage for free.

Dropbox, for example, allows users to store 2 gigabytes worth of data, such as images or documents, online. These files are then sent to data storage centers located in the U.S., and users then re-download them when needed.

Filecoin aims to work by removing the central data storage aspect. It allows users to request access to cloud storage by using apps such as Slate.

Users will then be offered a number of storage options by various other users known as miners, who compete on price and speed. The client then selects their preferred miner, and sends the data to the miner for it to be stored.

Miners must provide storage space, and also provide proof that they are able to store other users' data properly. This is verified on the network, and any blocks of data that are not "correct" are denied.

In return for correctly storing data and verifying the data of others, miners receive a storage payment. Filecoin's website warns that mining is an advanced procedure and also requires high-performance computer hardware.

When users want to download data from the Filecoin network rather than upload it, they select a miner who holds the data they want and then pay them to retrieve it.

Additionally, multiple miners across the globe can provide the file, meaning users who want that file are physically closer to it, rather than the file being stored in distant servers.

Filecoin says that due to market demand, data will spread to where it is in highest demand and that access to that data will be optimized in this way.

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Sask. Government warns of increase in cryptocurrency investment scams – CBC.ca

The Government of Saskatchewan is warning of an increase in fraudulent investment opportunities involving cryptocurrency.

In a release, the province said the Financial and Consumer Affairs Authority (FCAA) is warning of flashy advertising with promises of high returns to target people looking to grow their income for retirement.

The province said the fraudsters are creating fake websites, and use ads, fake recommendations and private messages to convince people to part with their money and achieve big returns.

A few common methods are:

The province said cryptocurrency is very complicated, so investors may find themselves in a situation where they are unsure about the investment opportunity.

It said there are a few warning signs:

The province said there are ways people can protect themselves from fraudulent investments:

It said people should do their research, examine the website thoroughly and watch for statements that are too good to be true. People should also search the company's reputation online to see reviews from other sources as well.

People can also check to see if the person or company is registered, and check the details with the Canadians Securities Administrators National Registration search.

People can also use the Canadian Securities Administrators Cease Trade Orders database to check if the company has broken regulatory rules in the past.

Be suspicious of high returns and anyone promising an investment will perform a certain way, the province said.

Lastly, the province said people should not feel pressured to make quick decisions or get a second opinion through seeking professional advice before investing or buying a service.

Anyone who discovers a fraudulent investment opportunity, people are encouraged to report the scam to the FCAA Securities Division at enforcementfcaasd@gov.sk.ca or 306-787-5936.

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Coinbase Goes Public April 14: What You Need To Know – Benzinga

Coinbase Global Inc., the largest cryptocurrency exchange in the U.S, will be listed on Nasdaq on April 14 after receiving official approval from the SEC.

What Happened: The company will offer 114.9 million shares as part of the direct listing and will be the first crypto exchange to go public in the United States.

The anticipated event was originally scheduled to take place in March, but the company announced last month it would be postponing the listing to Aprilwithout disclosing any reasons for the delay.

On Thursday, Coinbase announced that the proposed direct listing of its Class A Common Stock was declared effective by the SEC on April 1, and shares would begin trading under the Global Select Market under the ticker symbol COIN on April 14.

Why ItMatters: Coinbase has 43 million users in over 100 countries across the globe. In a private market auction earlier this year, shares reportedly traded between $350 and $375, implying a pre-IPO valuation of between $90 and $100 billion.

The company later updated a filing with the SEC, disclosing an average share price of $343.58 at the private market auction, which the Nasdaq will likely use as a reference price ahead of the companys direct listing.

The cryptocurrency exchange, which reported $1.3 billion in revenue and $322 million in profit in 2020 alone, largely depends on the fees from active cryptocurrency traders on its platform.

On that front, the timing couldnt be better for Coinbase as retail demand for crypto doesnt appear to be waning.

Crypto markets looked poised for another leg up, as the market-leading cryptocurrency Bitcoin was back above $60,000 at the time of writing, and most altcoins trading higher as well.

Ethereum, the second-largest cryptocurrency by market cap, geared towards a new all-time high as it traded above $2000 at press time.

2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Cryptocurrency crowned top performing asset class of 2020-21 with 800% return – Economic Times

NEW DELHI: Cryptocurrency was the asset class of financial year 2020-21 as it surged sharply, followed by crude oil, which trumped all other commodities thanks to a sudden price dip in March last year.

The pandemic that struck in March upended the price chart for many counters but also gave traders an opportunity to make the best of the crisis and subsequent recovery.

In the base metals pack, all counters gave solid returns as the demand for metals rose following the opening up of the economy. Energy counters along with some agri commodities also created wealth in the fiscal gone by.

Returns from equities and equity heavy mutual funds were the highlight of the year as Sensex and Nifty suffered from a historic crash and then recovered to record highs during the year. Mid and smallcap stocks also came into their own.

Crypto ManiaBitcoin was the asset to hold during FY21 as the cryptocurrency surged nearly over 800 per cent during the year. Other coins also saw a similar demand. Unlike the last few bull runs in cryptocurrencies, this years rally was different. It had a few fundamental reasons to appreciate.

According to industry watchers, acceptance and demand from global institutional investors along with the third halving of bitcoin (a phenomena where the number of daily mined bitcoin gets cut in half), which is a supply shock event, led to the massive rally. Eventually, bitcoin prices passed the $60,000 mark for the first time. Analysts believe this rapid rise may continue in the next year as well but they also said less savvy investors should be cautious.

Precious metals: Silver outperformsSilver was in great demand during the year, largely driven by industrial demand and thanks to a push towards renewable energy. Silver is used in solar panels. The metal advanced 73 per cent in FY21, from Rs 36,871 per kg at the end of March 2020 to Rs 63,666 on Tuesday. The white metal hit a record high of Rs 78,000 in August but corrected later.

Gold, which is used as a hedge against inflation and currency devaluation especially in times of a crisis, rose 8 per cent to Rs 44,331 per 10 grams. It also hit its record high of Rs 56,191, but slid as bond yields rose. Tax cuts on gold also put pressure on prices.

There should be a deeper bottom for gold. The US treasury is again trading higher and we expect more rise in that and dollar index. The new level should be Rs 42,000, which could be a good level to buy, said Vandana Bharti of SMC Global Securities.

She said there could be a scenario when gold may fall below Rs 40,000. "Nobody is talking about it but I am sensing that for a very brief period of time we may see it but people wont get the opportunity to encash it as there will be strong buying at that level," she added.

Base metals: Demand outstrip supplyOn the back of demand recovery, the base metal pack saw its fortune turn as prices rose. Compared to last fiscal end prices, copper surged 75 per cent, tin 46 per cent, zinc 45 per cent, nickel 36 per cent and aluminium 32 per cent. Lead underperformed, rising just 17 per cent.

Supply and demand have been off balance since Q2FY20 as a demand pick-up after pandemic-related closures outpaced ramp ups in production and mining, with companies battling technical problems and growing order backlogs. This has led to a sharp rise in prices.

Base metals also got a boost from special focus on infra spending by the government but rising rates have lately concerned government authorities. Moreover, rising consumer discretionary demand is also leading to a surge in prices.

The US will release details on the infrastructure spending package that could be between $3 and $4 trillion. Focus now shifts to Mfg. PMI data from major economies due later this week; wherein upbeat reading may further fan demand optimism. Furthermore, the downside in metals pack may also be capped amid expectation of accommodative stance by central banks of major economies, said Kotak Securities in a note.

Agro commodities: Jute stands outJute was the clear winner among agricultural commodities as it surged 25 per cent in the last one year to Rs 6,230 per 100 kg. One particular reason for the rally in the golden fiber was the Cabinet nod for 100 per cent jute packaging for food grains and 20 per cent for sugar.

Cardamom, which is used as spice in many cuisines, plunged 44 per cent as production is expected to have increased 78 per cent in the year. Wheat also struggled because of record rabi produce.

How different commodities fared in FY21

Energy: Crude oil triplesFor the most traded and perhaps the most important energy commodity, crude oil, the year was unprecedented. In the international markets, at one point prices of crude futures dipped below zero, shocking even the pundits.

The prices, however, have now recovered sharply thanks to production cuts and rise in demand. The counter has nearly tripled since March 2020. In fact, it has started to disrupt fiscal maths of import dependent countries like India.

Prices will get pressurized in the coming quarter the deteriorating near-term demand outlook in the face of still hampered refineries, surging interest and renewed European lockdowns and can push WTI prices back to $50 if demand recovery gets stalled and vaccine efficiency comes into question, said Navneet Damani and Shweta Shah of Motilal Oswal.

Natural gas, prices for which fluctuate largely due to weather patterns in the US and Europe and related demand, returned 50 per cent in fiscal 2021.

Residential properties back in demandDemand for residential properties recovered, after a multi-year lull in the real estate market. Meanwhile, commercial properties, especially warehouses continued to give good returns as e-commerce boomed.

The government intervention with unlocking and a series of reforms boosted sentiment for the sector. A combination of low-interest rates and reduction in stamp duty resulted in monthly sales of nearly 10,000 units for Mumbai consistently since September.

Homebuyers realized the importance of a spacious home with state-of-the-art amenities, and fiber connectivity that can double up as an office space. We have already started witnessing consolidation in the sector, developers with scale and strong books will emerge stronger post the pandemic. The broader economic recovery is expected to pick up momentum and help most sectors. FY22 will be a year of growth for the sector, with the return of pricing power, said Krish Raveshia, CEO at Azlo Realty.

Equity: Eye popping returns For equities, the year was of a great turmoil and record breaking run. Indices and stocks crashed to their multi-year lows in March only to recover to create a string of fresh record highs by the end of the year. And, for a change, small and midcap indices outperformed their larger peers.

BSE Sensex has climbed 70 per cent so far in the fiscal while BSE Midcap has risen 91 per cent. But the BSE Smallcap index, which has over 650 actively traded constituents, has given an eye-popping 114 per cent return in the last 12 months.

Massive money supply, especially from outside India, pushed indices higher. Hopes of a swift recovery, vaccine rollout and good earnings growth were other major reasons behind such a spectacular rally. Nifty is now trading at a record high valuation.

With fresh restrictions and faster vaccination we can expect sentiment to remain positive at the start of the new fiscal year. The earnings season will also kick in from the second week of April which could turn out to be the driver for stocks. Logically, markets should see some uptick from the first week of April. If this does not materialize at the start of April then we could see Nifty50 drifting towards 13,500-13,600, said Rusmik Oza, EVP, Head of Fundamental Research at Kotak Securities.

Metals were the best performing block, with BSE Metals rising 150 per cent in 12 months. BSE IT and BSE Auto were other sectors that rallied over 100 per cent. Meanwhile, BSE Capital Goods also gained 93 per cent as white goods makers shot up with the government focusing on infra and Make in India initiatives.

Mutual funds: Thematic schemes leadWhatever the strategy, almost all mutual fund schemes gave good to stellar returns in 2020, with some of them returning over 100 per cent in the last one year. Contra funds were picks of the fiscal year. Dividend yield funds also outperformed.

In the equity category, funds investing in different themes and broader markets outpaced others. ICICI Prudential Commodities Fund, ICICI Prudential Technology Fund, Kotak Small Cap Fund, PGIM India Midcap Opportunities Fund and Nippon India Small Cap Fund were the top five performing funds, rising 124-170 per cent.

In the debt fund category, low duration funds shone and credit risk funds again came to the fore and outperformed their peers. JM Low Duration Fund, Franklin India Low Duration Fund, Franklin India Credit Risk Fund, Aditya Birla Sun Life Short Term Fund and Baroda Credit Risk Fund were top performers with enviable 10-27 per cent returns.

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SU’s WiTec club to host workshops on cryptocurrency and blockchain – The Daily Orange

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Syracuse Universitys Worldwide Innovation Technology Entrepreneurship Club is planning to host an online introductory cryptocurrency and cloud workshop on April 9.

Red Hat, a software production company owned by IBM, is sponsoring the workshop, which is set to take place from 2 to 5 p.m. The event aims to teach students the basic fundamentals of cryptocurrency and blockchain cloud-related platforms, said Aishwarya Raj, the co-president of the WiTec club.

Were looking at everything holistically, Raj said. Once students go through the entire workshop, they should gain clarity within aspects of confusion to further build upon their skills.

Cryptocurrency is a form of digital currency that takes the form of tokens or coins. It is typically utilized through blockchain technology, a decentralized network that tracks individual currency transactions.

Lee McKnight, an associate professor in SUs School of Information Studies and the faculty adviser of WiTec, said blockchain and cryptocurrencies are modern forms of the U.S. dollar designed to produce a more efficient international payment system. Blockchain systems are a new form of trustless trust technology where users can make anonymous, but verifiable, transactions, he said.

The first hour of the workshop will include hands-on cryptocurrency and blockchain training from student members of WiTec, Raj said. During the second half of the event, RedHat members will train students in using the companys cloud technology, said Anishka Tahiliani, the other co-president of the club.

Tahiliani said the pandemic has caused a significant increase in cryptocurrency fluctuations, and the event will also provide students with the knowledge to deal with these situations.

Raj said she hopes that the workshop can enhance the students skills, especially those looking for jobs in the technology field.

Although most members of the club attend the iSchool, Raj and Tahiliani said they plan to potentially collaborate with other clubs within the school and SUs Martin J. Whitman School of Management to further market their event.

WiTec members perform research work and connect with technology organizations, Raj said. The club benefits from networking opportunities through technology, technical workshops and search projects. Events like the upcoming workshop are good resume builders and valuable learning experiences for members, she said.

Were living in a digital world, McKnight said. Were already using digital currency. This is the next wave of better, more efficient and uncrackable digital currencies.

Published on March 31, 2021 at 9:38 pm

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The CPSC Digs In On Artificial Intelligence – Consumer Protection – United States – Mondaq News Alerts

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American households are increasingly connected internallythrough the use of artificially intelligentappliances.1But who regulates the safety of thosedishwashers, microwaves, refrigerators, and vacuums powered byartificial intelligence (AI)? On March 2, 2021, at a virtual forumattended by stakeholders across the entire industry, the ConsumerProduct Safety Commission (CPSC) reminded us all that it has thelast say on regulating AI and machine learning consumer productsafety.

The CPSC is an independent agency comprised of fivecommissioners who are nominated by the president and confirmed bythe Senate to serve staggered seven-year terms. With the Bidenadministration's shift away from the deregulation agenda ofthe prior administration and three potential opportunities to staffthe commission, consumer product manufacturers, distributors, andretailers should expect increased scrutiny andenforcement.2

The CPSC held the March 2, 2021 forum to gather information onvoluntary consensus standards, certification, andproduct-specification efforts associated with products that use AI,machine learning, and related technologies. Consumer producttechnology is advancing faster than the regulations that govern it,even with a new administration moving towards greater regulation.As a consequence, many believe that the safety landscape for AI,machine learning, and related technology is lacking. The CPSC,looking to fill the void, is gathering information through eventslike this forum with a focus on its next steps for AI-relatedsafety regulation.

To influence this developing regulatory framework, manufacturersand importers of consumer products using these technologies mustunderstand and participate in the ongoing dialogue about futureregulation and enforcement. While guidance in these evolving areasis likely to be adaptive, the CPSC's developing regulatoryframework may surprise unwary manufacturers and importers who havenot participated in the discussion.

The CPSC defines AI as any method for programmingcomputers or products to enable them to carry out tasks orbehaviors that would require intelligence if performed byhumans and machine learning as an iterative processof applying models or algorithms to data sets to learn and detectpatterns and/or perform tasks, such as prediction or decisionmaking that can approximate some aspects ofintelligence.3To inform the ongoingdiscussion on how to regulate AI, machine learning, and relatedtechnologies, the CPSC provides the following list ofconsiderations:

These factors and corresponding questions will guide theCPSC's efforts to establish policies and regulations thataddress current and potential safety concerns.

As indicated at the March 2, 2021 forum, the CPSC is taking someof its cues for its fledgling initiative from organizations thathave promulgated voluntary safety standards for AI, includingUnderwriters Laboratories (UL) and the International Organizationfor Standardization (ISO). UL 4600 Standard for Safety for theEvaluation of Autonomous Products covers fully autonomoussystems that move such as self-driving cars along with applicationsin mining, agriculture, maintenance, and other vehicles includinglightweight unmanned aerial vehicles.5Usinga claim-based approach, UL 4600 aims to acknowledge the deviationsfrom traditional safety practices that autonomy requires byassessing the reliability of hardware and software necessary formachine learning, ability to sense the operating environment, andother safety considerations of autonomy. The standard coverstopics like safety case construction, risk analysis, safetyrelevant aspects of the design process, testing, toolqualification, autonomy validation, data integrity, human-machineinteraction (for non-drivers), life cycle concerns, metrics andconformance assessment.6While UL 4600mentions the need for a security plan, it does not define whatshould be in that plan.

Since 2017, ISO has had an AI working group of 30 participatingmembers and 17 observing members.7This group,known as SC 42, develops international standards in the area of AIand for AI applications. SC 42 provides guidance to JTC 1aspecific joint technical committee of ISO and the InternationalElectrotechnical Commission (IEC)and other ISO and IECcommittees. As a result of their work, ISO has published sevenstandards that address AI-related topics and sub-topics, includingAI trustworthiness and big data referencearchitecture.8Twenty-two standards remain indevelopment.9

The CPSC might also look to the European Union's (EU)recent activity on AI, including a twenty-six-page white paperpublished in February 2020 that includes plans to propose newregulations this year.10On the heels of theGeneral Data Protection Regulation, the EU's regulatoryproposal is likely to emphasize privacy and data governance in itsefforts to build[] trust inAI.11Other areas of emphasis include humanagency and oversight, technical robustness and safety,transparency, diversity, non-discrimination and fairness, societaland environmental wellbeing, and accountability.12

***

Focused on AI and machine learning, the CPSC is contemplatingpotential new consumer product safety regulations. Manufacturersand importers of consumer products that use these technologieswould be well served to pay attention toand participateinfuture CPSC-initiated policymaking conversations, or riskbeing left behind or disadvantaged by what is to come.

Footnotes

1See Crag S. Smith, A.I. Here, There,Everywhere, N.Y. Times (Feb. 23, 2021), https://www.nytimes.com/2021/02/23/technology/ai-innovation-privacy-seniors-education.html.

2 Erik K. Swanholt & Kristin M. McGaver,Consumer Product Companies Beware! CPSC Expected to Ramp upEnforcement of Product Safety Regulations (Feb. 24, 2021), https://www.foley.com/en/insights/publications/2021/02/cpsc-enforcement-of-product-safety-regulations.

385 Fed. Reg. 77183-84.

4Id.

5Underwriters Laboratories, Presenting theStandard for Safety for the Evaluation of Autonomous Vehicles andOther Products, https://ul.org/UL4600 (last visited Mar. 30,2021). It is important to note that autonomous vehicles fall underthe regulatory purview of the National Highway Traffic SafetyAdministration. See NHTSA, Automated DrivingSystems, https://www.nhtsa.gov/vehicle-manufacturers/automated-driving-systems.

6 Underwriters Laboratories, Presenting theStandard for Safety for the Evaluation of Autonomous Vehicles andOther Products, https://ul.org/UL4600 (last visited Mar. 30,2021).

7 ISO, ISO/IEC JTC 1/SC 42, ArtificialIntelligence, https://www.iso.org/committee/6794475.html(last visited Mar. 30, 2021).

8ISO, Standards by ISO/IEC JTC 1/SC 42,Artificial Intelligence, https://www.iso.org/committee/6794475/x/catalogue/p/1/u/0/w/0/d/0(last visited Mar. 30, 2021).

9Id.

10 See Commission White Paper on ArtificialIntelligence, COM (2020) 65 final (Feb. 19, 2020), https://ec.europa.eu/info/sites/info/files/commission-white-paper-artificial-intelligence-feb2020_en.pdf.

11 European Commission, Policies, A European approachto Artificial Intelligence, https://digital-strategy.ec.europa.eu/en/policies/european-approach-artificial-intelligence(last updated Mar. 9, 2021).

12Commission White Paper on ArtificialIntelligence, at 9, COM (2020) 65 final (Feb. 19, 2020), https://ec.europa.eu/info/sites/info/files/commission-white-paper-artificial-intelligence-feb2020_en.pdf.

Originally Published by Foley & Lardner, March2021

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The CPSC Digs In On Artificial Intelligence - Consumer Protection - United States - Mondaq News Alerts

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