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Macroeconomic expert George Gammon believes a second wave of bank failures is on the horizon.
In a new update to his 480,000 YouTube subscribers, Gammon points to a parabolic burst of bank borrowing from America’s Federal Home Loan Bank (FHLB) system and the newly formed Bank Term Funding Program (BTFP) as major indicators that signal more banking failures are on the way.
Gammon says latest stats from the Federal Reserve Economic Data (FRED) system, which show sharp and ongoing rises in borrowing from both the FHLB and BTFP, signal the banking crisis is far from over.
The Federal Reserve will likely raise its benchmark interest rate later this month to a 5.25%-5.5% range, traders bet on Friday, even as they priced in a slightly lower chance of any further increase after a government report showed hiring slowed more than expected in June.
Traders now see about a 20% chance of a rate hike in September and a 40% chance of one by November, after what is nearly universally expected to be a quarter-point increase at the U.S. central bank's late-July meeting.
Biometric identification solutions have become firmly established in our everyday lives, whether at security checks at airports or through facial recognition on smartphones – and the next generation is already waiting. DNA-based processes not only ensure precise identification of individuals, but also raise data protection to a completely new level.
For a long time, DNA-based methods were reserved for forensic work, such as the unequivocal identification of disaster victims or the determination of degrees of relationship. As technology advances, however, the latest generation of solutions for establishing identity is also becoming increasingly suitable for use in public service.
This is a development with major advantages, because for citizens, proof of their own identity is the key to state benefits, education and mobility – at least in theory. In practice, many people around the world still do not have a legal identity that can be verified by a birth certificate or passport, for example. This is where the full potential of unalterable and unique DNA comes into play, which can unambiguously identify people in cases of doubt. The new generation of DNA-based methods offers far-reaching advances in this area.
DNA-based personal identification is not a new invention – forensics practitioners have been using this method since the 1980s – but highly automated processes have only been available for a few years. With the latest technology, certified “Rapid DNA Technology”, solutions can generate DNA profiles (DNA IDs) anywhere and within a very short time using mobile devices and fully automated processes. These processes do not require any special technical or scientific knowledge and ensure lossless data generation.
A DNA ID card created in this way offers numerous advantages over conventional biometric identification methods such as fingerprints or iris recognition. Because the stored information is enclosed and protected directly in the nucleus of the human cell, the DNA-based solution ensures lifelong immutability and rules out tampering.
In addition to common biometric methods such as fingerprints, iris scans or facial recognition, DNA ID heralds the coming evolutionary step in personal identification and verification. The groundbreaking results of rapid DNA technologies will inexorably increase their acceptance, and it is foreseeable that the technology will find its way into further areas of life. In the future, citizens and governments will benefit equally from the advantages of fast and reliable DNA-based personal identification.
About the author
Corinna Schindler is Head of Verification at Veridos
Veridos and Innovatrics have formed a strategic partnership to combine their respective ABIS and DNA biometric technologies to enable the use of DNA in applications like border protection.
Innovatrics’ Automated Biometric Identification System is approved by the U.S. National Institute of Standards and Technology, according to the announcement.
The integration allows DNA biometrics to be fed into the Innovatrics ABIS through Veridos’ VeriDNA solution.
The combination brings the unsurpassed accuracy of DNA matching, its lifelong immutability and protection against forgery beyond forensics to civilian personal identification, according to the announcement. The modality also guarantees privacy protection, the partners say.
Previously, the time and labor needed to create IDs based on DNA has made it impractical for widespread adoption in civilian settings. The use of VeriDNA removes this barrier by avoiding the need to process the biometric data in a laboratory, Veridos and Innovatrics state. This, they say, enables broader use by governments.
Use cases range from issuing biometric and other ID cards to securing elections on most continents,” says Matus Kapusta, head of the ABIS Business Unit at Innovatrics. “Our ABIS, with its NIST-approved algorithms, is one of the fastest and most accurate systems in the world. Adding VeriDNA DNA ID biometric data to this significantly increases its value to our customers.”
German secure ID firm Veridos continues making moves in Africa. On the heels of a recent MOU aimed at simplifying cross-border travel between Namibia and Botswana, Veridos has issued a release announcing that its products have been selected to implement the process. This comes as the company jostles with rival firms to win a national identity card contract in Uganda.
In the two southern African nations, Veridos’ system means that citizens crossing the border in either direction can do so with only their digital ID cards. Passports will no longer be required. To coordinate this, the two nations aligned their systems with Veridos’ support. Namibia added QR codes and a machine-readable zone to its national ID cards, to match technology already present in Botswana’s cards.
It has been a busy year for Veridos, which has included acquisitions, wins and kerfuffles. In February, the German firm was rumoured to be in the running for a digital ID contract in the Democratic Republic of Congo (DRC). In March, Guyana chose Veridos to deliver an ICAO-compliant ID card intended for international travel, access to public services, and verification for private transactions.
Now, it is jockeying for the contract to produce ID cards for Uganda, where the current provider is embroiled in a scandal that has divided government. In a minority report, Muehlbauer High Tech International, which previously supplied Uganda’s aging National Security Information System (NSIS), has been accused of overcharging Ugandan taxpayers for creaky infrastructure, and of circumventing the processes necessary for a new contract.
Biometrics applications could look quite different five years from now, with different modalities used in elections and civil registries, and more choice in modalities for consumers, a panel of experts said at Innovatrics’ BioCon 2022 event in Bratislava, Slovakia.
Alexander Rakov of Smartmatic explained that Estonia has been using digital technology for its elections for over a decade, and will soon be one of the first countries to use face biometrics in its elections.
Corinna Schindler of Veridos discussed the use of DNA as a next-generation biometric modality. Veridos and Innovatrics have been working on the use of DNA for civil identity management, she revealed.
DNA is highly unique and stable, giving the modality advantages over others like face and fingerprints, respectively, Schindler argues. It is also encoded based on distance measurements in a way that can reveal relationships, but not genetic predispositions, and it cannot be spoofed with presentation attacks the way other modalities can.
The VeriDNA identity management system has developed with Innovatrics and hardware-maker Ande, which makes “a portable, ruggedized mini-lab,” that processes DNA within 90 minutes. Innovatrics provides the ABIS technology for the solution.
The solution is hardware-agnostic, however, and Schindler notes the potential for civil registration from birth based on DNA.
The next generation of biometric identification
Veridos is delivering a whole new level of security identification with VeriDNA® - an innovative identification solution based on human DNA. VeriDNA® maximizes the reliability of person verification thanks to an advanced biometric identity technique that was previously confined to sophisticated laboratories and fields such as forensics. It’s automated, fast, and safe from forgery all while considering the privacy of the individual. VeriDNA® provides much higher accuracy when compared to other biometrics, as DNA matching is classified as level 3 biometrics. Veridos is a pioneer in the field of DNA analysis for verification purposes and is the first to offer the government sector this one-of-a-kind solution.
Russian President Vladimir Putin signed a law extending compulsory DNA data collection to millions of people yesterday. Anyone suspected of any crime will have their DNA collected, and those convicted or sentenced to administrative detention for a misdemeanor will have their DNA profile stored in a state database for life.
This new legislation boosts Russia’s massive surveillance system and delivers another blow to the right to privacy. The government anticipates collecting DNA from at least 1.8 million people annually. In 2019, Russian courts imposed nearly one million sentences of administrative detention and 620,000 criminal sentences, which indicates the intended scope of the measures after the law fully enters into force in 2025. The administrative offences include participation in “unauthorized” assemblies, traffic offences, public intoxication, and failure to pay a minor fine.
In December 2022, Russia adopted laws requiring the pooling of all biometric data into a unified state database and giving Russian security services direct access to taxi users’ trips. Authorities are expanding the use of their facial recognition software to harass and prosecute activists and hunt down people evading conscription for Russia’s war in Ukraine. In the absence of safeguards, sensitive personal data and surveillance have already been shown to be prone to corruption and leaks.
About 3.8 million Texas students will be sent home with at-home DNA and fingerprint identification kits in the following weeks in case of an emergency, according to multiple reports.
The Child I.D. kit distribution is a result of S.B. No. 2158, passed in 2021 following the 2018 shooting at Santa Fe High School in Texas, which resulted in the deaths of 9 students and one teacher, Axios noted. The law mandates the Texas Education Agency provide the kits to all eligible children, which comprises kids in kindergarten through eighth grade.
Similar programs are being introduced in other states and school districts, including in Virginia, where the parents of students in sixth, seventh, and eighth grades will soon receive the kits, according to NBC News 10.
Ripple believes that the adoption of blockchain in the near future is imminent and it is confident that functional research will play a crucial role in this push. The firm confirmed that with its involvement in the UBRI, a number of high-profile universities have rolled out their blockchain and Web 3.0-focused programs already.
While the firm's legal brawl with the United States Securities and Exchange Commission (SEC) appears to be attempting to derail its focus, Ripple is working hard to be a force for good. As reported earlier by U.Today, the firm is also exploring a move into the real estate Industry.
The plans to boost the tokenization of the real estate sector were confirmed by Ripple's CBDC advisor, Antony Welfare, who also discussed similarities on how the innovation will incorporate central bank digital currencies (CBDCs).
An innovative pilot program aims to enable users to tokenize real estate assets and utilize them as collateral for loans, leveraging Ripple’s CBDC platform.
Antony Welfare, central bank digital currency (CBDC) adviser at Ripple, highlighted the growing global interest in CBDCs and stablecoins in a July 7 tweet. He emphasized that Ripple’s team is actively exploring practical applications for CBDCs and stablecoins, focusing on tokenizing real estate assets.
During a fintech conference in Romania, Welfare presented a use case that combines the digital Hong Kong dollar (e-HKD), tokenized real estate and finance lending protocols. This innovative pilot program aims to enable users to tokenize real estate assets and utilize them as collateral for loans, leveraging Ripple’s CBDC platform.
Through blockchain technology, tokenization amplifies liquidity, accessibility, efficiency, transparency and security. As more industries and investors grasp the advantages and potential of tokenization, it is poised to gather further momentum as a prominent trend in the financial and asset management arenas.
In a report co-written with consulting firm Oliver Wyman, UK Finance said the advantages of tokenization, such as lower costs, lower risk and wider access, are not just “a nice-to-have.” Tokenization “can transform the financial system, and the UK should be at the centre of this transformation,” it said.
The UK is at risk of falling behind other financial centres, as digital bond issuance to date has been in other places such as Singapore or Switzerland. […] Our progress is similar to the US, which could quickly leap ahead given its huge financial resources, deep capital markets and technology knowhow.”
“The UK government has given some indications of its commitment to tokenisation and its enablers. Industry now requires action from government,” the report added. It held up Singapore’s Project Guardian as an example of a government exploring collaboration with the private sector to develop the use of tokenized assets.
Ripple, the blockchain technology company, is eyeing London as a strategic location for its crypto expansion plans, according to Susan Friedman, head of policy at Ripple. In an interview with the Digital Pound Foundation, Friedman discussed the company’s vision for London as a potential hub for digital currencies and the exciting opportunities it presents
Friedman expressed her enthusiasm for the UK government’s forward-thinking approach to fintech, particularly in relation to Central Bank Digital Currencies (CBDCs). She commended the Bank of England’s engagement with the digital pound initiative, highlighting it as a testament to the country’s commitment to innovation in the financial sector. As Ripple continues to establish a strong presence in London, Friedman acknowledged the city’s dynamic environment, which provides fertile ground for the growth and adoption of cryptocurrencies
In addition to discussing the potential of CBDCs, Friedman highlighted the broader implications of digital currencies. She noted their potential to foster financial inclusion, facilitate seamless person-to-person payments, enhance payment infrastructure efficiency, promote innovation, and even potentially reduce environmental impact. However, she also acknowledged the challenges faced by central banks in maintaining financial stability and control while encouraging these new initiatives.
1. There’s 32 deltas for todays date (JUL 08)…
What happens when those who held positions of POWER (& INFLUENCE) no longer pull the strings?
Just because the 'public' is unaware of something, does not mean 'nothing' is happening.
…those previously protected become prey.
HUNTERS BECOME THE HUNTED.
GOD WINS.
Anonymous ID: grTMpzrL No.147434025 📁
Oct 31 2017 22:00:47 (EST)
There are more good people than bad. The wizards and warlocks (inside term) will not allow another Satanic Evil POS control our country. Realize Soros, Clintons, Obama, Putin, etc. are all controlled by 3 families (the 4th was removed post Trump's victory).
11.3 - Podesta indicted
11.6 - Huma indicted
Manafort was placed into Trump's camp (as well as others). The corruption that will come out is so serious that deals must be cut for people to walk away otherwise 70% of elected politicians would be in jail (you are seeing it already begin). A deep cleaning is occurring and the prevention and defense of pure evil is occurring on a daily basis. They never thought they were going to lose control of the Presidency (not just D's) and thought they had control since making past mistakes (JFK, Reagan).
Good speed, Patriots.
PS, Soros is targeted.
Paul Soros (Hungarian: Soros Pál; born Pál Schwartz; June 5, 1926 – June 15, 2013) was a Hungarian-born American mechanical engineer, inventor, businessman and philanthropist. Soros founded Soros Associates, which designs and develops bulk handling and port facilities. Soros Associates currently operates in ninety-one countries worldwide, as of 2013. Paul Soros, often called "the invisible Soros", was the older brother of George Soros, a businessman and financier.
SC: AXIS OF EVIL can & will return FIRE [is].
originally posted by: Thoughtful2
a reply to: CrazyFox
Paging, paging Christine Grady. [Fauci's sidekick.]
In case she forgot
Introducing once again - TikTock's dancing nurses.
A Critical Analysis
Another fail- How could this have been remotely acceptable during a serious plandemic? They miss the mark but I guess the only thing offensive is the bumping and grinding.
Q- Why has she not resigned?
The security detail that Fauci has after he has left is given because of her. She can't resign! She is 71 years old. There really needs to be term & age limits.
She's the go around to allow this because - as an employee she must be protected, which of course includes "partner in crime".
Fun Factoid. Fauci is 82, Grady is 71. Quick math 82-71= you know.
Fauci Facts
Q !UW.yye1fxo ID: 42a0eb No.148746 📁
Dec 22 2017 11:12:55 (EST)
Anonymous ID: 9f3bd2 No.148634 📁
Dec 22 2017 10:52:34 (EST)
Donald J. Trump
Verified account
@realDonaldTrump
44m44 minutes ago
More
Will be signing the biggest ever Tax Cut and Reform Bill in 30 minutes in Oval Office. Will also be signing a much needed 4 billion dollar missile defense bill.
>>148634
MISSILE.
MISSLE.
FOX THREE.
SPLASH.
AS THE WORLD TURNS.
RED_OCTOBER>
Q
Anonymous ID: pGukiFmX No.147586045 📁
Nov 2 2017 00:48:52 (EST)
Four carriers & escorts in the pacific?
Why is that relevant?
To prevent other state actors from attempting to harm us during this transition? Russia / China?
Or conversely all for NK? Or all three.
Think logically about the timing of everything happening.
Note increased military movement.
Note NG deployments starting tomorrow.
Note false flags.
Follow Huma.
Prepare messages of reassurance based on what was dropped here to spread on different platforms.
The calm before the storm.