The Future of Cryptocurrency

Credit: EconomicTimes

Introduction

Cryptocurrencies are digital or virtual currencies underpinned by cryptographic systems. They enable secure online payments without the use of third-party intermediaries. “Crypto” refers to the various encryption algorithms and cryptographic techniques that safeguard these entries, such as elliptical curve encryption, public-private key pairs, and hashing functions. Cryptocurrencies can be mined or purchased from cryptocurrency exchanges. Not all eCommerce sites allow purchases using cryptocurrencies. In fact, cryptocurrencies, even popular ones like Bitcoin, are hardly used for retail transactions.

What is Cryptocurrency?

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.

Blockchain Technology

Central to the appeal and functionality of Bitcoin and other cryptocurrencies is blockchain technology. As its name indicates, a blockchain is essentially a set of connected blocks or an online ledger. Each block contains a set of transactions that have been independently verified by each member of the network. Every new block generated must be verified by each node before being confirmed, making it almost impossible to forge transaction histories. The contents of the online ledger must be agreed upon by the entire network of an individual node, or computer maintaining a copy of the ledger.

Types of Cryptocurrency

Bitcoin is the most popular and valuable cryptocurrency. An anonymous person called Satoshi Nakamoto invented it and introduced it to the world via a white paper in 2008. There are thousands of cryptocurrencies present in the market today. Each cryptocurrency claims to have a different function and specification. For example, Ethereum’s ether markets itself as gas for the underlying smart contract platform. Ripple’s XRP is used by banks to facilitate transfers between different geographies. Bitcoin, which was made available to the public in 2009, remains the most widely traded and covered cryptocurrency. As of November 2021, there were over 18.8 million bitcoins in circulation with a total market cap of around $1.2 trillion. Only 21 million bitcoins will ever exist.

Is Cryptocurrency Legal?

Fiat currencies derive their authority as mediums of the transaction from the government or monetary authorities. For example, each dollar bill is backstopped by the Federal Reserve. But cryptocurrencies are not backed by any public or private entities. Therefore, it has been difficult to make a case for their legal status in different financial jurisdictions throughout the world. It doesn’t help matters that cryptocurrencies have largely functioned outside most existing financial infrastructure. The legal status of cryptocurrencies has implications for their use in daily transactions and trading. In June 2019, the Financial Action Task Force (FATF) recommended that wire transfers of cryptocurrencies should be subject to the requirements of its Travel Rule, which requires AML compliance. As of December 2021, El Salvador was the only country in the world to allow Bitcoin as legal tender for monetary transactions. In the rest of the world, cryptocurrency regulation varies by jurisdiction.

Future of Cryptocurrency

A cryptocurrency that aspires to become part of the mainstream financial system may have to satisfy widely divergent criteria. It would need to be mathematically complex (to avoid fraud and hacker attacks) but easy for consumers to understand; decentralized but with adequate consumer safeguards and protection; and preserve user anonymity without being a conduit for tax evasion, money laundering, and other nefarious activities. Since these are formidable criteria to satisfy, is it possible that the most popular cryptocurrency in a few years could have attributes that fall in between heavily-regulated fiat currencies and today’s cryptocurrencies?

Conclusion

The emergence of Bitcoin has sparked a debate about its future and that of other cryptocurrencies. Despite Bitcoin’s recent issues, its success since its 2009 launch has inspired the creation of alternative cryptocurrencies such as Ethereum, Litecoin, and Ripple. A cryptocurrency that aspires to become part of the mainstream financial system would have to satisfy very divergent criteria. While that possibility looks remote, there is little doubt that Bitcoin’s success or failure in dealing with the challenges it faces may determine the fortunes of other cryptocurrencies in the years ahead.

References

The Roots of STEM Talent of India

Credit: Dreamstime

Introduction

The Information Technology sector in India has built its reputation by providing cost-effective solutions and providing employment to millions of people in the process. However, the full-time research workforce in India was estimated to be just 2,00,000 in 2015 by UNESCO. Are we, as a nation, adequately promoting careers in Science, Technology, Engineering, and Mathematics (STEM) subjects, and are we even able to generate enough talent for our own demand? Are we losing some of our best minds to other countries because of a lack of support and opportunities?

What is STEM?

STEM, in full science, technology, engineering, and mathematics, field, and curriculum centered on education in the disciplines of science, technology, engineering, and mathematics (STEM). The STEM acronym was introduced in 2001 by scientific administrators at the U.S. National Science Foundation (NSF). The organization previously used the acronym SMET when referring to the career fields in those disciplines or a curriculum that integrated knowledge and skills from those fields. In 2001, however, American biologist Judith Ramaley, then assistant director of education and human resources at NSF, rearranged the words to form the STEM acronym.

Women in STEM

Under-representation of women and gender pay gaps are well-recognized global challenges in STEM sectors. While Indian Technology firms can still boast of a relatively better female-to-male ratio, according to UNESCO estimates, only 14 percent of the researchers in India are women. Even engineering colleges have skewed gender ratio in favor of male students, and according to a Kelly Global Workforce Insights (KGWI) survey, 81 percent of the women in STEM fields in India have perceived a gender bias during performance evaluation.  The annual ‘Girls in Tech’ MasterCard research indicates that while interest in STEM careers is increasing gradually, women are still less likely than men to pursue a STEM career and less likely to remain in the field for their entire career owing to male dominance in the fields. 

STEM Sector in India

The focus on building the scientific prowess of the masses, and bet on specialized educational institutions to do the same, institutions like the Indian Institute of Technology (IIT), Indian Institute of Science (IISc), and All India Institute of Medical Science (AIIMS) was founded and promoted to develop the country’s scientific and technical manpower, and in the process help the society and economy prosper. However, with time, these institutes have largely been reduced to stepping stones for a well-paying career. Especially in the last two decades, the relentless quest of students, and their parents, to ensure admission to such premier institutes has given rise to an astronomical coaching classes industry as well. A particular blow to STEM education came when the All India Council for Technical Education (AICTE) liberally allowed the setting up of engineering institutes across the country a few years ago. The move was undertaken in anticipation of a huge demand for engineering studies. However, this not only eroded the value conferred on an engineering degree but also compromised the quality of education and training provided on a fundamental level.

Making STEM a Priority

The first step towards fixing what’s broken is the identification and acknowledgment of the present challenges and understanding the context in which they arise. In other words, the government and the private education sector must make a genuine attempt at understanding their shortcomings, and reflect on why so few Indian institutes are recognized for quality STEM education and training. Establishing global partnerships with countries that have built sophisticated STEM expertise is critical to paving the way for knowledge exchange and skill development. While American and European universities are known for their focus on STEM education, countries in the networks of BRICS and ASEAN could also prove to be beneficial partners. This also needs to be backed by healthy funding to develop independent institutes that focus on research, pure sciences, and other derivatives of STEM subjects. The Indeed survey showed that job seekers in the age group of 21-25 were 12 percent more inclined towards jobs in STEM sectors than in others. Inculcating innovation and creativity in young minds and encouraging them to pursue dedicated courses right from the moment they stepped into the formal education system is essential. However, in the present system, STEM studies might simply be added as an additional layer to the existing curriculum and would increase pressure on students and teachers alike.

References

The Roots of STEM Talent of India

Credit: Dreamstime

Introduction

The Information Technology sector in India has built its reputation by providing cost-effective solutions and providing employment to millions of people in the process. However, the full-time research workforce in India was estimated to be just 2,00,000 in 2015 by UNESCO. Are we, as a nation, adequately promoting careers in Science, Technology, Engineering, and Mathematics (STEM) subjects, and are we even able to generate enough talent for our own demand? Are we losing some of our best minds to other countries because of a lack of support and opportunities?

What is STEM?

STEM, in full science, technology, engineering, and mathematics, field, and curriculum centered on education in the disciplines of science, technology, engineering, and mathematics (STEM). The STEM acronym was introduced in 2001 by scientific administrators at the U.S. National Science Foundation (NSF). The organization previously used the acronym SMET when referring to the career fields in those disciplines or a curriculum that integrated knowledge and skills from those fields. In 2001, however, American biologist Judith Ramaley, then assistant director of education and human resources at NSF, rearranged the words to form the STEM acronym.

Women in STEM

Under-representation of women and gender pay gaps are well-recognized global challenges in STEM sectors. While Indian Technology firms can still boast of a relatively better female-to-male ratio, according to UNESCO estimates, only 14 percent of the researchers in India are women. Even engineering colleges have skewed gender ratio in favor of male students, and according to a Kelly Global Workforce Insights (KGWI) survey, 81 percent of the women in STEM fields in India have perceived a gender bias during performance evaluation.  The annual ‘Girls in Tech’ MasterCard research indicates that while interest in STEM careers is increasing gradually, women are still less likely than men to pursue a STEM career and less likely to remain in the field for their entire career owing to male dominance in the fields. 

STEM Sector in India

The focus on building the scientific prowess of the masses, and bet on specialized educational institutions to do the same, institutions like the Indian Institute of Technology (IIT), Indian Institute of Science (IISc), and All India Institute of Medical Science (AIIMS) was founded and promoted to develop the country’s scientific and technical manpower, and in the process help the society and economy prosper. However, with time, these institutes have largely been reduced to stepping stones for a well-paying career. Especially in the last two decades, the relentless quest of students, and their parents, to ensure admission to such premier institutes has given rise to an astronomical coaching classes industry as well. A particular blow to STEM education came when the All India Council for Technical Education (AICTE) liberally allowed the setting up of engineering institutes across the country a few years ago. The move was undertaken in anticipation of a huge demand for engineering studies. However, this not only eroded the value conferred on an engineering degree but also compromised the quality of education and training provided on a fundamental level.

Making STEM a Priority

The first step towards fixing what’s broken is the identification and acknowledgment of the present challenges and understanding the context in which they arise. In other words, the government and the private education sector must make a genuine attempt at understanding their shortcomings, and reflect on why so few Indian institutes are recognized for quality STEM education and training. Establishing global partnerships with countries that have built sophisticated STEM expertise is critical to paving the way for knowledge exchange and skill development. While American and European universities are known for their focus on STEM education, countries in the networks of BRICS and ASEAN could also prove to be beneficial partners. This also needs to be backed by healthy funding to develop independent institutes that focus on research, pure sciences, and other derivatives of STEM subjects. The Indeed survey showed that job seekers in the age group of 21-25 were 12 percent more inclined towards jobs in STEM sectors than in others. Inculcating innovation and creativity in young minds and encouraging them to pursue dedicated courses right from the moment they stepped into the formal education system is essential. However, in the present system, STEM studies might simply be added as an additional layer to the existing curriculum and would increase pressure on students and teachers alike.

References

How Automation is Changing Workplace Everywhere?

Credit: Prospects

Introduction

There was a time when the term “automation” was synonymous with advanced manufacturing plants full of robotics. While replacing human labor with machine labor is a prime example of workplace automation, it’s far from the only example. Automation is present in modern businesses of all sizes – including subtle features in common software applications, and more obvious implementations like self-driving vehicles or autonomous robots. There is much debate about where workplace automation will lead the economy, but observers tend to agree that the trend is gaining momentum. Every business process is on the table for automation, especially as technology becomes more sophisticated. 

What is Workplace Automation?

Here’s a common misconception that automation involves towering robotics, but it can be as simple as a set of tools housed within common business software programs. At its core, automation is about implementing a system to complete repetitive and easily replicated tasks without the need for human labor. “Automation takes a lot of forms,” said Fred Townes, chief product officer at READY Education. “For small businesses, the most important thing is [repetition]. When you find something you do more than once that adds value … you want to look into automation.”

Machine Learning as the Driver for Automation

Machine learning and artificial intelligence enable new forms of “smart” automation. As the software learns, the more adaptable it becomes. These technologies open the door for the automation of higher-order tasks in addition to the basic, repetitive tasks. “I think there’s a lot of focus at the moment on these tasks that humans don’t want to do,” Sharma said. “But what’s going to happen in the future is … automation will not just be about automating those tasks humans are doing today, but it will be about realizing potential opportunities.”

Example of Common Workplace Automation

1. Email marketing

Many small business owners already use at least one form of automation: email marketing. Companies like Zoho and Constant Contact offer software that allows users to tailor the parameters of their email marketing campaign to their liking and then set it to run automatically. 

2. Customer service

Customer service departments are also getting an automation makeover with the introduction of tools like chatbots and automated text message marketing solutions.

3. Human resources

Given the predictable and repetitive nature of HR duties – like payroll and timesheets – digitization can transform the efficiency of a department.

Conclusion

Economic insecurity displaced workers feel is very real, but automation is not the enemy. Instead, Wallace hopes to educate people about leveraging this powerful technology to create their own incomes – essentially establishing a society of entrepreneurs and small companies. “If we can establish a way to make sure we all have enough food, clothing, and shelter to survive … and allow people to repurpose their gifts, unique abilities, and enable them to proliferate that and sell it as a good or a service, then we’re adding income,” Wallace said. “We can create an opportunity to generate income for next to nothing, so why not teach people to leverage the tech that disrupted the marketplace in the first place to embrace it and use it for something more in line with who they are, as an expression of their unique abilities?”

References

Why does the World Need to Decarbonize Transport?

Credit: ITF

Introduction

Moving people and goods accounts for one-quarter of global energy use, and the demand for energy from this sector is continuing to grow. This is due mainly to the increasing number and size of vehicles on our roads: more than 1.42 billion are currently in use, with an expected two billion by 2040. Road vehicles, most still powered by fossil fuels, account for nearly 75 per cent of total transport-related greenhouse gas emissions. Emissions from aviation and shipping are also projected to sail upwards between now and 2050. Flying contributes 12 per cent of the world’s total carbon dioxide emissions, while the marine sector, if it were a country, would be ranked between Germany and Japan as the sixth-largest source.

Why to Decarbonize the Transport?

Climate change cannot be stopped without decarbonizing transport. Transport emits around 23% of the energy-related CO2 that feeds global warming. Without immediate action, its share could reach 40% by 2030. Transport emissions have grown faster than those of any other sector over the past 50 years. Demand for transport will continue to grow massively in the coming decades. As a result CO2 emissions from transport activity will not fall, but could increase by 60% by 2050. And because transport relies on oil for 92% of its energy, it is particularly hard to decarbonize. 

Ambition of the Initiative

The Decarbonising Transport initiative helps governments and industry to translate climate ambitions into actions. Specifically, it:

  • Builds a catalogue of effective CO2 mitigation measures: the Transport Climate Action Directory.
  • Provides targeted analytical assistance for countries and partners to identify climate actions that work.
  • Gathers and shares evidence for best practices that will accelerate the transition to carbon-neutral mobility.
  • Shapes the climate change debate by building a global policy dialogue and by bringing the transport perspective to the broader climate change discussions.

Stream of the Initiative

 The Decarbonising Transport initiative is organised in five work streams:

  • Tracking progress: The initiative evaluates how current mitigation measures contribute to reaching objectives for reducing transport CO2.
  • In-depth sectoral studies: The initiative identifies effective policies for decarbonizing urban passenger transport, road freight transport, maritime transport, aviation and inter-urban transport.
  • Focus studies: The initiative analyses specific decarbonization issues and feeds the results into other work streams.
  • National pathways: The initiative assesses available policy levers for decarbonizing transport from a country perspective. Projects may also examine regional or sub-national levels.
  • Policy Dialogue: The initiative organizes global dialogue on transport and climate change through high-level roundtables, policy briefings and technical workshops. It acts as a conduit for transport sector input to climate change negotiations.

Conclusion

The Decarbonizing Transport initiative was launched in 2016 with core funding from the ITF’s Corporate Partnership Board (CPB). Other funding partners currently include the governments of France, Korea, Ireland and the Netherlands, the World Bank, the European Commission, the Climate Works Foundation, the Fédération Internationale de l’Automobile (FIA), the FIA Foundation, the International Road Transport Union (IRU) and the Swedish Shipowners’ Association. In recognition of the work of its Decarbonizing Transport initiative, the UN Climate Change Secretariat (UNFCCC) has named the International Transport Forum a focal point for transport under its Marrakech Partnership. In this role, the ITF acts as a conduit for the exchange of information between the transport sector and the UNFCCC, as well as providing inputs to the UNFCCC process.

References

Why does the World Need to Decarbonize Transport?

Credit: ITF

Introduction

Moving people and goods accounts for one-quarter of global energy use, and the demand for energy from this sector is continuing to grow. This is due mainly to the increasing number and size of vehicles on our roads: more than 1.42 billion are currently in use, with an expected two billion by 2040. Road vehicles, most still powered by fossil fuels, account for nearly 75 per cent of total transport-related greenhouse gas emissions. Emissions from aviation and shipping are also projected to sail upwards between now and 2050. Flying contributes 12 per cent of the world’s total carbon dioxide emissions, while the marine sector, if it were a country, would be ranked between Germany and Japan as the sixth-largest source.

Why to Decarbonize the Transport?

Climate change cannot be stopped without decarbonizing transport. Transport emits around 23% of the energy-related CO2 that feeds global warming. Without immediate action, its share could reach 40% by 2030. Transport emissions have grown faster than those of any other sector over the past 50 years. Demand for transport will continue to grow massively in the coming decades. As a result CO2 emissions from transport activity will not fall, but could increase by 60% by 2050. And because transport relies on oil for 92% of its energy, it is particularly hard to decarbonize. 

Ambition of the Initiative

The Decarbonising Transport initiative helps governments and industry to translate climate ambitions into actions. Specifically, it:

  • Builds a catalogue of effective CO2 mitigation measures: the Transport Climate Action Directory.
  • Provides targeted analytical assistance for countries and partners to identify climate actions that work.
  • Gathers and shares evidence for best practices that will accelerate the transition to carbon-neutral mobility.
  • Shapes the climate change debate by building a global policy dialogue and by bringing the transport perspective to the broader climate change discussions.

Stream of the Initiative

 The Decarbonising Transport initiative is organised in five work streams:

  • Tracking progress: The initiative evaluates how current mitigation measures contribute to reaching objectives for reducing transport CO2.
  • In-depth sectoral studies: The initiative identifies effective policies for decarbonizing urban passenger transport, road freight transport, maritime transport, aviation and inter-urban transport.
  • Focus studies: The initiative analyses specific decarbonization issues and feeds the results into other work streams.
  • National pathways: The initiative assesses available policy levers for decarbonizing transport from a country perspective. Projects may also examine regional or sub-national levels.
  • Policy Dialogue: The initiative organizes global dialogue on transport and climate change through high-level roundtables, policy briefings and technical workshops. It acts as a conduit for transport sector input to climate change negotiations.

Conclusion

The Decarbonizing Transport initiative was launched in 2016 with core funding from the ITF’s Corporate Partnership Board (CPB). Other funding partners currently include the governments of France, Korea, Ireland and the Netherlands, the World Bank, the European Commission, the Climate Works Foundation, the Fédération Internationale de l’Automobile (FIA), the FIA Foundation, the International Road Transport Union (IRU) and the Swedish Shipowners’ Association. In recognition of the work of its Decarbonizing Transport initiative, the UN Climate Change Secretariat (UNFCCC) has named the International Transport Forum a focal point for transport under its Marrakech Partnership. In this role, the ITF acts as a conduit for the exchange of information between the transport sector and the UNFCCC, as well as providing inputs to the UNFCCC process.

References

How Traditional Publication and Self Publication Differs

The business world is continuously evolving, with competition increasing each day. Advancements in technology trigger market change more frequently than ever. This results in milestone evolutions of business strategies. Most companies spend a huge amount of funds on staying updated with these changes.  

Source: https://pixabay.com/it/photos/libro-business-college-concept-4966982/

But what about unconventional businesses like a mystery room Bangalore or a luxury thrift shop in LA? How do they prosper and expand their circles without the backing of huge investments? Finding out the right marketing channels for unconventional businesses can often be quite challenging. But provided companies can figure out suitable strategies, spreading their business globally is no longer a fool’s dream.  

Similarly, while publishing your books, you must also opt for the right kind of publication to cater to a global audience. The two main modes of publishing, traditional publication, and self-publication, come with their own set of pros and cons. 

So, to make it easy for you to make the right choice, this article is here for you. Make sure to read this article till the very end to gather a comprehensive understanding of how traditional publication and self-publication differ from one another.   

What are the basic steps of traditional publication?  

The basic steps of the traditional publication are as follows: 

  • Make a query with a suitable agent who you think will publish your book 
  • The agent needs to accept your book and agree to take it to a suitable publishing house  
  • The publishing house works on selling your book 
  • As the writer, you are paid an upfront price as advance 
  • Often, you might have to pay back your advance based on your book sales to equate the money before you finally start to make a new income 
  • As the writer, you have the right to rewrite, write or edit your already published book 
  • The publishing house reserves all rights to your book 
  • The publishing house will create an appropriate cover to go with your book and edit it using professionals  
  • Your book might be formatted in all versions 
  • As the writer, you are paid 10% – 12.5% as royalties  

What are the basic steps of self-publishing?  

The basic steps concerning self-publishing are as follows: 

  • As a self-publishing author, you can publish your book any time you want! 
  • You have to pay for designing the cover of your book as per your desires 
  • You have to pay to get a professional to edit your book 
  • You have to pay for formatting your book 
  • You have to upload and publish your book 
  • As a self-publishing author, you get full royalties  
  • You reserve all the rights to your book 
  • You can update, modify, edit or republish your book whenever you want to 
  • As per your desires, you can publish as many numbers of books as you want, even as quickly as you want! 
  • With self-publishing, you can even write and publish your book in 90 days if you desire it! 

 

If you are still at loggerheads thinking which of these two modes of publishing would be beneficial for you, read on.   

What should I consider before choosing between traditional publishing and self-publishing? 

The following factors can probably help you decide which model of publishing would be the most suitable for your cause: 

1. Distribution  

i. Traditional Publishing: Traditional publishing has the upper hand over self-publishing when it comes to distributing your book. Book stores are spread all across the world, wherein your book can be easily circulated by the publishing house. Thus, in this way, your book can easily reach far and wide across the globe. Other than distributing via physical stores, your book can also be sold in various online bookstores! 

 

ii. Self-Publishing: You can still avail all the online book distribution options that you had with traditional publishing. All you have to do is decide on which of the online book distribution portals you want to sell your book. Although, there is no doubt that in the case of self-publishing, the chances of circulating your book are lower.   

2. Royalty Rates 

i. Traditional Publishing: Most newbie traditionally publishing authors tend to secure approximately 10% per book sold as their income till the advance is paid out. After that, the payment can increase up to approximately 12.5% per book sold.  

 

ii. Self-Publishing: Considering the rates of Amazon as the standard, you get a 60% of your book’s retail rate minus the MRP as royalty. Thus, there is no doubt that in terms of royalty rates, self-publishing authors can secure more income in one go.    

3. Cost of publishing 

i. Traditional Publishing: As a traditionally published author, you have to entail zero cost of production, for it is the publishing house itself that takes care of this. 

 

ii. Self-Publishing: Being a self-publishing author, there is a huge bill that you need to pay. It starts from editing and formatting to even cover design; there are several factors that you need to spend your money on.    

4. Time required 

i. Traditional Publishing: To get your book published in the traditional book can take an unprecedented amount of time, considering it takes longer to find a suitable agent. Even if you do find a good agent, it might still take a couple of years before your book is published in the market. 

 

ii. Self-Publishing: As soon as you are done with the process of editing, formatting, and customizing your book cover, you are ready to publish it!  

 

To sum up, the idea of self-publishing vis-à-vis traditional publishing, let us now understand the advantages and disadvantages of each comprehensively: 

Pros of Self-Publishing:  

• Own full ownership rights of your book 

• Possess the right to completely customize your book 

• Exercise complete control over marketing your book 

• Exercise and control the creativity over your book 

• Possess a higher profit potential   

Cons of Self-Publishing:  

• You alone have to ensure whether your book is professional and good in every way 

• It’s a lengthy and time-consuming process to do all by yourself 

• Hiring professionals to ease the process can be expensive   

Pros of Traditional Publishing:  

• You receive financial advances even before your book is published   

• The publishing house invests their money to get your book published 

• High chance of book distribution in various stores 

• High potential of media coverage   

Cons of Traditional Publishing:  

• It is very tough to find the right agent who is ready to take up your book 

• A lot of time is required before your book is published 

• You exercise no control in the marketing or creativity 

• You have no ownership over your book. The publishing house owns your book 

Conclusion

This detailed understanding of traditional publishing as against self-publishing should now be sufficient for you to make your choice. So, what are you waiting for? Don’t let your manuscript gather any more dust as it sits idly on your desk. Publish it today, and let the world step into a universe you created!  

 

 

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An Analysis of World Environment Day

Credit: Parenting

Introduction

World Environment Day is celebrated on the 5th of June every year. More than 100 countries Worldwide join in the celebration of World Environment Day. It was started by the United Nations Environmental Program in the year 1973 and has been continuing till now. The main purpose of celebrating this day is to spread awareness about the Environment.

Theme for 2022

World Environment Day 2022 will be held under the theme Only One Earth, highlighting the need to live sustainably in harmony with nature by bringing transformative changes – through policies and our choices – towards cleaner, greener lifestyles.

What is the Environment?

Scientifically speaking, everything around us constitutes our Environment. Both living and non-Types of the Equation of the Motion living things make up our Environment. The living or biotic components include plants, animals and microbes, while the non-living or abiotic components include air, water, soil and so on.

Why is the Environment in Danger?

The Environment is in danger because of the high levels of pollution. All the major components of the Environment such as the hydrosphere, the atmosphere, and the biosphere, are trapped with pollutants. The rising level of pollutants is destroying the normal Environmental conditions. These types of pollutants can be natural (for example volcanic eruptions, forest fires, etc.) or manmade (pollutants released from industries, emissions from cars). It is mainly man-made pollution that has caused rapid destruction of the Environment. The major forms of pollution are air pollution, water pollution, and soil pollution.

Why is it Necessary to Save the Environment?

The Environment is one of the most important tools for our survival on planet Earth. The Environment nurtures us and helps us survive. We cannot imagine life without air, water, and soil. The biotic components like plants and animals are also important survival tools. Plants help purify the air around us. We get food from plants and animals. All the components of the Environment are dependent on each other in a web of relations known as the ecological web. It is necessary to maintain this web in balance because if one component collapses then the entire web will crumble destroying all life forms. This is why we must choose to work towards preserving the Environment and undoing the damage we did.

Purpose of World Environment Day

The main purpose of World Environment Day is to spread awareness about the current conditions of the Environment. On this day people come together to join in efforts to improve our life. Every year there is one theme or Environmental problem which is focused upon and a pledge to combat that problem is taken that year. For example for the year 2019, the theme was air pollution. Organizations all around the world come together on this day, to take small steps to improve our future. Schools and offices encourage workers and students to plant trees or clean up some local land. These small efforts can leave a big impact on the Environment.

Conclusion

World Environment Day reminds us to consolidate our planet and ensure that the Environment is conserved at all costs. It illuminates the causes that cause the most damage to our environment. For example, industries and industries play a major role in polluting. They reduce the amount of air we breathe and the water we consume. Therefore, this Day serves as an eye-opener for many citizens who are unaware of all this. In other words, it spreads awareness to ordinary people about the current situation. In addition, it also encourages the community from different communities and communities to play an active role in celebrating this Day.

References

Dr B.R. Ambedkar/Babasaheb: Birthday Tribute to the Legendary Personality of India

While discussing the contribution of Dr Bhim Rao Ambedkar saheb (popularly known as Dr B.R. Ambedkar/Babasaheb) volumes are required to write as his massive contribution in all fields are assets to Indians. I wish to quote a line that has greatly motivated me. “Life should be great rather than long”, said Dr. B.R. Ambedkar, who flagged the ‘Constitution of India’.
Born on 14 April 1891, Dr. Ambedkar showed the path of Dalits on how to lead a venerable life. Interestingly, his date of birth i.e. 14 April has coincided ( sometimes one-day variation) with great celebration in Assam, Bengal, Punjab, Kerala, and Tamil Nadu as generally this date is celebrated as New Year in the respective state. In Assam, a week-long celebration is known as ‘Rongali Bihu’, in Bengali ‘Subha nabarsha’, Vishu in Kerala, Vaishakhi in Punjab, and Puthandu in Tamil. All these evince that he was born on an auspicious date and month. Dr. Ambedkar saheb passed away on 6 December 1956 but undoubtedly ‘his life was great rather than long’.
Hailing from the socially most backward class, he has shown everyone particularly in the lower echelons of the society, mainly Dalits how to survive with dignity. It may be mentioned that Dalit communities are found not only in India but also in Bangladesh, even among the Muslims of Bangladesh. Dalit in Bangladesh is a recent adoption earlier they were called indigenous or antaz but in recent times, Dalit is used. The data reveals that around 30 Dalit communities live in the South-west part of Bangladesh. Socially and economically they are backward, poor, and vulnerable. Bhumija Foundation of Bangladesh identified nine Dalit communities in the South-western region of Bangladesh based on their occupation and distinct culture.
Anyway, in his childhood, Babasaheb never felt the brunt of the caste politics or ‘Untouchability syndrome’ as he was born at Mhow, Indore present Madhya Pradesh in an army family of Army cantonment. In his own words “……my father was employed in the Army. He held the rank of Subedar at that time. Since we lived in the cantonment, we had little to do with the world outside the military area. I had no experience of Untouchability”. But after his father’s retirement, the situation totally changed. His father shifted to Satara and he felt the brunt of untouchability as even no barber was prepared to cut their hair as sequel Dr. Ambedkar’s elder sister used to cut his hair. Like this, he had to face many social issues in those days because of his caste (Mahar). Anyway, while Dr. Ambedkar ji served in the Baroda state he was denied accommodation on rent both by Hindu or Muslim house owners as a sequel he had to live in a Parsi Dharmasala, and there also he had to face serious problems because of caste.
Dr. Ambedkar was a man of vision and had a strong desire for the development of human beings. In his words, “I believe that the world can be conquered by intelligence”. Further, he felt “without social efficiency no permanent progress in other fields of activity was possible”. And that is why he emphasized self-respect, “Self-respect is the most vital factor in life, without it man is a cipher.” He considered education as the most powerful catalyst for bringing about the changes in the society. It is believed that he used to study even for 18 hours every day in his school days. Dr. Ambedkar was in favour of birth control and he was of the opinion that with a huge population India would face severe problems on many fronts. He may be quoted here, “the educated class has, by this time, fully realized the necessity of birth-control and fortunately, the leaders in our country also are unanimous on this point. Pandit Jawaharlal Nehru, Sir Rabindranath Tagore, and Mrs. Sarojini Naidu know very well the importance and the urgency of the movement for birth control and are in favour of contraceptives”. He had also stated that “Population in India grows decade by decade in geometrical progression. As against this unlimited growth of population what is available for cultivation is not merely a limited amount of land but a limited amount of land whose fertility is diminishing year by year. India is caught between two sides of a pincer, the one side of which is a progressive increase in population and production is increasing to an alarming degree, leaving India with the inheritance of poverty, more poverty, and chronic poverty.”. His theory of population growth in the context of India matches with Malthusian theory of population and our policymakers should look into this issue.

Babasaheb’s feelings toward women and their empowerment can be understood in his writing. “I measure the progress of a community by the degree of progress which women have achieved.” Dr. Ambedkar’s contribution to the economic development of India was enormous as already mentioned volumes are required to write.
In 1990, Dr. Ambedkar saheb was posthumously awarded the Bharat Ratna, India’s highest civilian award. Although Babasaheb passed away on 6 December 1956, through his activities and contribution he will be in the hearts of millions of Indians.
On the occasion of his happy birthday on 14 April 2022, I extend my Pronam to the great soul.

The Global Image of Women Empowerment

Credit: Leverage Edu

Introduction

The empowerment and autonomy of women and improving their political, social, economic, and health status is a highly important end. In addition, it is essential for the achievement of sustainable development. The full participation and partnership of both women and men are required in productive and reproductive life, including shared responsibilities for the care and nurturing of children and maintenance of the household. In all parts of the world, women are facing threats to their lives, health, and well-being due to being overburdened with work and their lack of power and influence. In most regions of the world, women receive less formal education than men, and at the same time, women’s own knowledge, abilities, and coping mechanisms often go unrecognized. The power relations that impede women’s attainment of healthy and fulfilling lives operate at many levels of society, from the most personal to the highly public.

What is Women’s Empowerment?

Women’s empowerment can be defined as promoting women’s sense of self-worth, their ability to determine their own choices, and their right to influence social change for themselves and others. It is closely aligned with female empowerment – a fundamental human right that’s also key to achieving a more peaceful, prosperous world. Women’s empowerment and promotion of women’s rights have emerged as a part of a major global movement and are continuing to break new ground in recent years. Days like International Women’s Empowerment Day are also gaining momentum. But despite a great deal of progress, women and girls continue to face discrimination and violence in every part of the world.

Why Empowerment is important?

Empowering women is essential to the health and social development of families, communities, and countries. When women are living safe, fulfilled, and productive lives, they can reach their full potential. contributing their skills to the workforce and can raise happier and healthier children. They are also able to help fuel sustainable economies and benefit societies and humanity at large. A key part of this empowerment is through education. Girls who are educated can pursue meaningful work and contribute to their country’s economy later in life. They are also four times less likely to get married young when they have eight years of education, meaning that they and their families are healthier.

How World Vision is helping Empower Women?

When women and girls are supported, they gain opportunities to speak up for their rights, and also to advocate for their communities. They are also able to rise in social standing, and they can feed this into future generations. This means women’s organizations, women’s empowerment policies, and women’s charities can gain momentum and contribute to a stronger world.

World Vision supports women and girls by:

  • Our sponsorship program. When you sponsor a girl, you not only help give a girl opportunities she may have been denied – but our community-focused approach means that her whole community benefits, too.
  • Helping girls and women learn advocacy skills at all stages of life so that they can use their voices effectively for their own rights.
  • Partnering with communities, faith leaders, and governments to challenge and correct harmful social norms that keep women and girls from their potential.
  • Raising awareness around the causes of poor health and wellbeing that are related to gender.
  • Empowering women and girls through water, sanitation, and hygiene; health and nutrition; livelihoods training; and education programs to increase their opportunities and ability to reach their full potential.

Conclusion

Achieving change requires policy and programme actions that will improve women’s access to secure livelihoods and economic resources, alleviate their extreme responsibilities about housework, remove legal impediments to their participation in public life, and raise social awareness through effective programmes of education and mass communication. In addition, improving the status of women also enhances their decision-making capacity at all levels in all spheres of life, especially in the area of sexuality and reproduction. This, in turn, is essential for the long-term success of population programmes. Experience shows that population and development programmes are most effective when steps have simultaneously been taken to improve the status of women.

References

Life Wanna Rich – Trilok Kumar

This is the first english poem written by him

Heyyy heyy… Life wanna  rich,
but i m not rich  , but I gonna tech
do you want a leach….
same same, here here, there there, were were

if there is a will there is a way… it may it may!!
like a day it gonna bright your way…
If I gonna say it may it may!!
I know how to say… it gonna change your way!!

O God what to say if upsc is dream then there is a way….
I must now to say , if u gonna say it is beneficial for your day….!!!!!
It prevent u from decay…..

Heyy Heyy still u wanna learn it gives u fun….
whatever u have done.
Like a sun your enemy gonnna 🔥burn !!
still u didn’t see your way it may spoil your way…

Now focus on your aim and say it may, it may….!!
At any stage study is the base..
Money give u fame and study is the same
And Google your name.. it will be on the top it’s your hope!!

–Trilok Kumar

Is Space Tourism is Beneficial for Planet?

Credit: Spacelearn

Introduction

While space tourism isn’t brand new, the race to progress commercial space travel has moved along vastly in the past year. With NASA – once the center of the space industry – taking its time to bring commercial space flight into the realm of possibility, the doors have opened up for wealthy individuals to try their hand at space travel. Space tourism is not without criticism, despite being an exciting idea in theory. Today, we’ll explore the advantages and disadvantages of space tourism, raise questions about the billionaire space race, and think about whether space tourism is the beginning of a new future or an environmental catastrophe. 

What is Space Tourism?

The fundamental purpose is for human pleasure, as all tourism is. We can divide space tourism into orbital, suborbital, and lunar space tourism. While orbital space tourism involves extremely high speeds (17,400 mph), as it allows a rocket to orbit around Earth, suborbital flights are a lot slower (though still 3,700mph) and tend to fly directly up into space and then back down again. Suborbital flights are what space tourism companies are offering more commonly. Lunar space tourism involves trips to the moon. While there are some broader definitions of space tourism, such as watching rocket launches or stargazing, we’ll be focusing on commercial space travel in this article, as it has the most far-reaching consequences.

Does Commercial Space Travel exist today?

The short answer to this question is yes. However, currently, commercial space travel is extremely exclusive, and this shows no signs of changing shortly. July 2021 was a pioneering month, with both Virgin Galactic and Blue Origin successfully launching suborbital spaceflights with tourist passengers from their spaceports. Eventually, each of these companies wants to provide regular space travel opportunities to private paying customers. 

Environmental Concerns

Large carbon footprint

Eloise Marais, a physical geography professor at UCL, suggests that the carbon footprint of flying to space in a rocket is about 100x more than taking a long-haul flight. 

Depleting ozone layer

There are several ways space tourism can contribute to a depleting ozone layer. CO2 emissions and soot trap heat in the atmosphere and rockets emit up to 10 times more nitrogen oxides than the largest thermal power plant in the UK.

Polluted stratosphere

One of the biggest environmental concerns with space tourism is the soot cloud that rockets leave behind. Soot can accumulate in the stratosphere, which is between 5 and 31 miles above Earth, where it can’t be washed away by the weather.

Conclusion

It seems as though the current plans that the billionaire space company owners have for space tourism are perhaps too ambitious, and focus on the wrong things. It’s true that space exploration and research could bring a wealth of new ideas and resources to Earth, and could provide a future existence for humans. But regular, short space flights for the recreational activities of the rich do not seem to be in the best interest of Earth. 

References

Understanding the Nucleic Acid Vaccines

Credit: MIT News

Introduction

Faced with the challenges posed by infectious diseases and cancer, nucleic acid vaccines present excellent prospects in clinical applications. Compared with traditional vaccines, nucleic acid vaccines have the characteristics of high efficiency and low cost. Therefore, nucleic acid vaccines have potential advantages in disease prevention and treatment. However, the low immunogenicity and instability of nucleic acid vaccines have limited their development. Therefore, a large number of studies have been conducted to improve their immunogenicity and stability by improving delivery methods, thereby supporting progress and development for clinical applications.

What is Nucleic Acid Vaccines?

Instead of injecting a weakened form of a virus or bacteria into the body, Nucleic acid vaccines use genetic material from a disease-causing virus or bacterium (a pathogen) to stimulate an immune response against it. That immune response, which produces antibodies, is what protects us from getting infected if the real virus enters our bodies. Nucleic acid vaccines have the potential to be safe, effective, and cost-effective. Moreover, the immune responses induced by nucleic acid vaccines only target the selected antigen in the pathogen.

Types of Nucleic Acid Vaccine

Nucleic acid-based vaccines, including DNA (as plasmids) and RNA [as messenger RNA (mRNA)] vaccines, exhibit promising potential in targeting various indications and diseases.

What is DNA Vaccine?

DNA vaccines are generated by inserting a gene encoding antigens into a bacteria-derived plasmid, which needs to be controlled by a powerful promoter. DNA plasmids are replicated in bacteria, which can be selected based on antibiotic resistance mediated by genes carrying resistance markers, using the prokaryotic origin of replication. Additionally, DNA vaccines can affect not only humoral immunity but also cellular immunity. Although the precise mechanisms underlying the induction of an immune response to antigens expressed by host cells following DNA immunization have not yet been determined, we have a considerable understanding of the roles of immune cells in the processing, presentation, and recognition of antigens.

What is RNA Vaccine?

Currently, there are two widely acknowledged forms of mRNA vaccines, namely, non-amplifying mRNA and self-amplifying mRNA, which are classified due to the difference in mechanisms. In terms of structure, non-amplifying mRNA vaccines mainly contain five critical elements for the life cycle and expression: the “cap” [m7Gp3N(N: any nucleotide)], which is a 7-methyl-guanosine residue (m7G) bound to the 5′-end of the RNA transcript via a 5′–5′ triphosphate bond with any nucleotide; a 5′ untranslated region (5′UTR) that sits immediately upstream of the translation initiation codon; an open reading frame (ORF) encoding the gene of interest (GOI); a 3′ untranslated region (3′UTR); and a tail of 100–250 adenosine residues [poly(A) tail].

Advantages of Nucleic Acid Vaccine

Safe and non-infectious as they are not made with pathogen particles or inactivated pathogens.
Can generate a stronger type of immunity and are well tolerated as compared to traditional vaccines.
Can be produced more rapidly as they do not require a host for growth, e.g., eggs or bacteria.

References

BASE RATE AND DRI SCHEME: A SUPERIOR LENDING RATE

Credit: PlanAdvisor

Introduction

The Financial and Banking sector of any country plays a paramount role in the functioning of the economy through intermediation. This sector has undergone numerous reforms in the past few years. One of the outcomes of these reforms is that now banks are more liberalized and have the freedom to determine the interest rates on their own. Banks are allowed to determine the lending rates on loans and advances concerning the base rate. The Base Rate is one of the amendments to the lending rate introduced by the RBI. Let’s now discover what it is, the term associated with it, and the factors determining it. 

What is Base Rate?

A Base rate is defined as the minimum interest rate set by the country’s central bank below which banks are not permitted to lend to their customers. This rate is usually taken as the standard interest rate by all the banks functioning in the country. Introduced in June 2010, the base rate is simply regarded as the standard lending rate offered by commercial banks. 

Why is Base Rate System used?

In the earlier days, the ostensible problem with the credit market was the lack of transparency. There used to be some segments in the banking system that were hidden or kept unknown to the customers. Banks use to give no clear information on the interest rate charged for a loan. So, to bring transparency and awareness to the credit field and to ensure that banks pass the benefit of lower interest rates to borrowers, the RBI implemented the notion of Base Rate across all the banks.

Factors Determining the Base Rate

Base Rates must consider and include all the elements of lending rates which are across various categories of borrowers. It is practicable that the base rate may be different for different banks. The four significant components that typically decide or determine the base rate set by a particular bank include

  • Cost of Funds i.e., interest rates provided by the banks on deposits
  • Operating Costs
  • The Minimum rate of Returns
  • Cost of the Cash Reserve Ratio.

So, the base rate presented by one bank can be dissimilar to the rate of another bank owing to any one or more of the above-declared factors. The most prevalent factor is the difference in interest rates provided by the banks on deposits.

What is DRI Scheme?

DRI Scheme stands For Differential Rate of Interest Scheme. It was launched to provide credit access to the low-income group. It is better known as DIR Scheme. This scheme was set in motion from the year 1972. The loan scheme empowers or authorizes the banks to lend money to weaker and incapable sections of society at a concessional interest rate. In simpler terms, DRI Scheme was introduced to financially assist low-income groups. The loan scheme visualizes lending by banks to the incapable section of the society at a uniform concessional rate of interest. There is no requirement or obligation of collateral or third-party guarantee. The assets which are created or bought from the loan amount will be hypothecated to the banks.

Conclusion

Every bank must review its base rate quarterly. Since the primary intention of implementing the base rate is transparency in the prices of the lending product, every bank has to reveal its base rate details in all their branches and on their official websites too. DRI Scheme is enhancing the Financial Inclusion Goal of India. In April 2016, RBI introduced a new concept known as MCLR (Marginal Cost of Lending Rates) as a replacement for the Base Rate. So, the MCLR is the new internal benchmark that all institutions will follow.

References

  1. https://www.creditmantri.com
  2. https://economictimes.indiatimes.com
  3. https://www.investopedia.com

Problems of Aged in Changing Scenario

Credit: Metropolis

Introduction

Population aging is a global issue, which has been recognized to have implications on the health care and social welfare systems. The process whereby the proportion of children in the population decreases and those of old people increases is known as the “aging of population”. The global population of the elderly has constantly been increasing during the second half of the last century. This has been possible due to the easy availability of life-saving drugs, famines’ control, various communicable diseases, better awareness and supply of nutrition and health facilities, and a comparatively better overall standard of living. These achievements have resulted in a drastic reduction in mortality rates and a substantial increase in the life expectancy at birth and the overall span of people.

What is Aging?

Aging is a continuous, irreversible, universal process, which starts from conception till the death of an individual. However, the age at which one’s productive contribution declines and one tends to be economically dependent can probably be treated as the onset of the aged stage of life. Old age is the last phase of the human life cycle, which is again universally true. UN recommended 60 years as the age of transition for the elderly segment of the population, and has been categorized as follows:

  1. Young Old- between the ages of 60-75 years
  2. Old-Old- between the ages of 75-85 years
  3. Very Old- 85 years and above.

Disabilities in Old Age

The disabilities that a person experiences in the course of aging are multiple in nature. For some, aging enhances the status and enriches life satisfaction, but for many others, it may be difficult and problematic. On one hand, getting old provides an opportunity to relax, enjoy and do things they always wanted to do but never had the time for when they were young. On the other hand, old age also implies increasing physical, mental, and psychological disabilities. Such disabilities are the result of many factors. With the increasing age and decreasing health, the older person begins to depend unknowingly physically and psychologically on either the kinship group or the existing social support network.

Government’s Role

Since independence, the Indian government has been committed to supporting the old people in our society with certain interventionist welfare methods. The year 1999 was declared by the UN as the International Year of Older Persons followed on 13th Jan 1999, by the Government of India approving the National Policy for Older Persons for accelerating welfare measures and empowering the elderly in ways beneficial to them. Maintenance and Welfare of Parents and Senior Citizens Act, 2007 provides legal sanctions for the rights of the elderly. In addition constitutional provisions for old age security, old age pension, establishing old age homes, expanding geriatric services, and liberalizing housing policy for elders have also been undertaken.

Role of Old Age Homes

The concept of the old age home, though not very common in India, is not unknown. The first old age home was established in Bangalore in 1983 by the Bangalore Friends-in Need society and was called the ‘(obb Home)’. According to Help Age India estimates, there are 728 institutions at present, perhaps a majority of them in urban areas. Kerala has the largest number of old-age homes. More than 60 percent of the old age homes in India are of the charitable type, meant for destitute or very poor persons. About 20 percent of them are of the ‘pay and stay’ type and another 20 percent are mixed. About 15 percent of the homes were for women exclusively. In recent years, there has been a rapid increase in the number of old age homes and they are gradually gaining acceptance, especially by those who see these institutions as a better alternative than living in a son’s home where you are not wanted. There is a debate going on in India at present among seniors’ organizations, nongovernmental organizations, and others about whether this growth should be allowed, supported, or curbed. There is a strong feeling that the proliferation of old-age homes would make it easier for children to shirk their responsibility for taking care of their aging parents by placing them in institutions.

Conclusion

Despite the government’s and NGO’s efforts in rehabilitating the aged in India they are still the most vulnerable group facing multiple problems and hence require proper care and attention. Aging is a natural process. ‘Old age is an incurable disease’. But more recently J.S. Ross commented, “You do need old age, you protect it, you promote it, and you extend it”. A man is as old as he feels and a woman as old as she looks. Hence there is a need for proper care and protection for the elderly in the changing scenario.

References