MIT/Federal Reserve Bank Release Research on a Possible Central Bank Digital Dollar

“The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology’s Digital Currency Initiative have come up with an initial design for a central bank digital currency,” reports Yahoo Finance.

Reuters cautions that the newly-released research does not suggest that the U.S. central bank will move toward launching a CBDC, a step it has said it would not take without clear support from the White House and Congress….” Instead the team “developed technology that can be adjusted as more policy questions regarding the structure and purpose of a CBDC are addressed.”

The Washington Post describes it as “a system that can settle the vast majority of payments in less than two seconds, handles more than 1.7 million transactions per second and operates around-the-clock with no service outages in the case of a disruption in its network.”

The Boston Globe adds that “The team noted there’s a lot more work to do in the next phase, including researching various privacy features, and stressed the digital dollar remains hypothetical until the Fed decides whether to move forward with government-backed electronic cash.”

Some context from the Washington Post:
The ultimate product could help extend financial services to people who lack a bank account and make cross-border payments such as remittances safer and easier, said Neha Narula, director of the Digital Currency Initiative at MIT. Narula, in a conference call with reporters, noted that the Boston researchers “aren’t the ones making policy decision on how such a system might operate,” so they have aimed to “create a flexible system that can work with a variety of models.”
Along with a paper describing the team’s work to date, researchers on Thursday published open-source code for the platform that would support the digital currency. Jim Cunha, executive vice president of the Boston Fed, called that a first for the central bank, intended to encourage public input that improves the technology.

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No, Linus Torvalds is not Bitcoin Creator Satoshi Nakamoto

ZDNet reporter Steven Vaughan-Nichols has solved the mystery of whether Linus Torvalds is Bitcoin creator Satoshi Nakamoto: no.

But what’s interesting is why the reporter had to ask in the first place:
In a GitHub Linux kernel repository, it appeared Torvalds had changed a single line in the Linux Kernel. The change: ‘Name = I am Satoshi….’ Torvalds himself has been suspected of being Nakamoto several times over the years. But no one who knows him well, and I consider myself one of those, have ever thought he was the Bitcoin mastermind. It’s just so, so not Linus.

So, while many people were discussing the “evidence,” I decided just to ask Linus. Here’s what he had to say.
“I’m afraid that is just a jokester taking advantage of how GitHub works — it shares git objects between different repositories, so you can use the SHA1 ‘name’ of an object to specify something you did in your own tree, and then use my repository as the web name, and make it look like your object is in my tree….” Torvalds went on, “So the “torvalds/linux” part of that URL is basically just empty noise, designed to fool people into thinking it’s in my tree. You could replace it with [another] GitHub repository name — the actual relevant part is just the SHA1 hash part….”

“So no,” Torvalds concluded, “I’m sadly not the owner of a huge stash of original bitcoins.”

And, there you have it, folks. Nakamoto’s real identity remains a secret.

Late last year Vaughan-Nichols also reported on what happened when Linux Foundation executive director Jim Zemlin suggested Torvalds sell an NFT of the 1991 email that first announced Linux to the world .
“An amused and appalled Torvalds replied, “I’m staying out of the whole craziness with crypto and NFTs. Those people are cuckoo!”

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Inside Google’s Plan To Salvage Its Stadia Gaming Service

Google is trying to salvage its failing Stadia game service with a new focus on striking deals with Peloton, Bungie, and others under the brand “Google Stream.” Business Insider reports: When Google announced last year that it was shutting down its internal gaming studios, it was seen as a blow to the company’s big bet on video games. Google, whose Stadia cloud service was barely more than a year old, said it would instead focus on publishing games from existing developers on the platform and explore other ways to bring Stadia’s technology to partners. Since then, the company has shifted the focus of its Stadia division largely to securing white-label deals with partners that include Peloton, Capcom, and Bungie, according to people familiar with the plans.

Google is trying to salvage the underlying technology, which is capable of broadcasting high-definition games over the cloud with low latency, shopping the technology to partners under a new name: Google Stream. (Stadia was known in development as “Project Stream.”) The Stadia consumer platform, meanwhile, has been deprioritized within Google, insiders said, with a reduced interest in negotiating blockbuster third-party titles. The focus of leadership is now on securing business deals for Stream, people involved in those conversations said. The changes demonstrate a strategic shift in how Google, which has invested heavily in cloud services, sees its gaming ambitions.

Google has continued to prop up the Stadia consumer platform with a steady stream of titles. After Google closed Stadia’s internal game studios, known as Stadia Games & Entertainment, insiders said the directive was to build out what was internally dubbed a “content flywheel” — a steady flow of independent titles and content from existing publishing deals that would be much more affordable than securing AAA blockbusters, two former employees familiar with the conversations said. “The key thing was that they would not be spending the millions on the big titles,” one said. “And exclusives would be out of the question.” Executives and employees for the Stadia product have also shifted roles. Phil Harrison, the former PlayStation executive Google tapped to run its gaming operations, now reports to the company’s head of subscriptions.

Patrick Seybold, a Google spokesperson, told Insider in a statement: “We announced our intentions of helping publishers and partners deliver games directly to gamers last year, and have been working toward that. The first manifestation has been our partnership with AT&T who is offering Batman: Arkham Knight available to their customers for free. While we won’t be commenting on any rumors or speculation regarding other industry partners, we are still focused on bringing great games to Stadia in 2022. With 200+ titles currently available, we expect to have another 100+ games added to the platform this year, and currently have 50 games available to claim in Stadia Pro.”

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System76-Scheduler Is a New Pop!_OS Rust Effort To Improve Desktop Responsiveness

slack_justyb writes: “Quietly making its v1.0 debut yesterday was system76-scheduler as a Rust-written daemon aiming to improve Linux desktop responsiveness and catering to their Pop!_OS distribution,” reports Phoronix.

The daemon will work with the kernel’s CFS scheduler to give priority to components that System76 deems important for its distro. Out of the box, the scheduler will assign priority to the X.Org Server and desktop window managers/compositors, while pushing compilers and other background tasks lower. However, the scheduler will be configurable via Rusty Object Notation (RON) files found in /etc/system76-scheduler/assignments/ and /usr/share/system76-scheduler/assignments/.

Over on the GitHub page for the project, the team indicates that they are indeed making a trade-off from the default CFS to benefit Desktop configurations over the typical load a server might see.

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Traders Are Selling Themselves Their Own NFTs To Drive Up Prices

The NFT marketplace is rife with people buying their own NFTs in order to drive up prices, according to a report released this week by blockchain data firm Chainalysis. Engadget reports: Known as “wash trading,” the act of buying and selling a security in order to fool the market was once commonplace on Wall Street, and has been illegal for nearly a century. But the vast, unregulated NFT marketplace has shown to be a golden opportunity for scammers. The report tracked instances of the same traders selling the same NFTs back and forth at least 25 times, a likely incident of wash trading. It identified a group of 110 alleged NFT wash traders who have made roughly $8.9 million in profit from this practice. Researchers also discovered significant evidence of money laundering in the NFT marketplace in the last half of 2021. The value sent to NFT marketplaces by addresses associated with scams spiked significantly in the third quarter of 2021, worth more than $1 million worth of cryptocurrency, according to the report. Roughly $1.4 million dollars of sales in the fourth quarter of 2021 came from such illicit addresses. “NFT wash trading exists in a murky legal area. While wash trading is prohibited in conventional securities and futures, wash trading involving NFTs has yet to be the subject of an enforcement action,” wrote the authors of the report.

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Zuckerberg Tells Staff to Focus on Video Products as Meta’s Stock Plunges

Meta Chief Executive Officer Mark Zuckerberg rallied his employees to focus on video products, after they watched the stock lose a quarter of its value. Bloomberg reports: At a company-wide virtual meeting Thursday, Zuckerberg explained that the historic stock drop was a result of Meta’s weak forecast for revenue in the current quarter, according to a person who attended and was not authorized to speak about it. Zuckerberg echoed his remarks of a day earlier to investors, telling employees that the social networking giant faced an “unprecedented level of competition,” with the rise of TikTok, the short-video platform Facebook doesn’t own. Zuckerberg appeared red-eyed and wore glasses, the person said. He said he might tear up because he’d scratched his eye — not because of the topics up for discussion.

Meta is already talking about ways to retain staff amid the stock rout. The social media giant is thinking of offering long weekends, Zuckerberg said, responding to a question on burnout. He also encouraged exhausted employees to use their vacation days. He added that based on his life experience, transitioning to a four-day work week would not be productive. Employee shares vest on Feb. 15, and manager conversations about bonuses and promotions happen in March — both of which could be factors in workers’ potential decisions to leave, according to another person familiar with the company’s plans.

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It’s Back: Senators Want ‘EARN IT’ Bill To Scan All Online Messages

A group of lawmakers have re-introduced the EARN IT Act, an incredibly unpopular bill from 2020 that “would pave the way for a massive new surveillance system, run by private companies, that would roll back some of the most important privacy and security features in technology used by people around the globe,” writes Joe Mullin via the Electronic Frontier Foundation. “It’s a framework for private actors to scan every message sent online and report violations to law enforcement. And it might not stop there. The EARN IT Act could ensure that anything hosted online — backups, websites, cloud photos, and more — is scanned.” From the report: The bill empowers every U.S. state or territory to create sweeping new Internet regulations, by stripping away the critical legal protections for websites and apps that currently prevent such a free-for-all — specifically, Section 230. The states will be allowed to pass whatever type of law they want to hold private companies liable, as long as they somehow relate their new rules to online child abuse. The goal is to get states to pass laws that will punish companies when they deploy end-to-end encryption, or offer other encrypted services. This includes messaging services like WhatsApp, Signal, and iMessage, as well as web hosts like Amazon Web Services. […]

Separately, the bill creates a 19-person federal commission, dominated by law enforcement agencies, which will lay out voluntary “best practices” for attacking the problem of online child abuse. Regardless of whether state legislatures take their lead from that commission, or from the bill’s sponsors themselves, we know where the road will end. Online service providers, even the smallest ones, will be compelled to scan user content, with government-approved software like PhotoDNA. If EARN IT supporters succeed in getting large platforms like Cloudflare and Amazon Web Services to scan, they might not even need to compel smaller websites — the government will already have access to the user data, through the platform. […] Senators supporting the EARN IT Act say they need new tools to prosecute cases over child sexual abuse material, or CSAM. But the methods proposed by EARN IT take aim at the security and privacy of everything hosted on the Internet.

The Senators supporting the bill have said that their mass surveillance plans are somehow magically compatible with end-to-end encryption. That’s completely false, no matter whether it’s called “client side scanning” or another misleading new phrase. The EARN IT Act doesn’t target Big Tech. It targets every individual internet user, treating us all as potential criminals who deserve to have every single message, photograph, and document scanned and checked against a government database. Since direct government surveillance would be blatantly unconstitutional and provoke public outrage, EARN IT uses tech companies — from the largest ones to the very smallest ones — as its tools. The strategy is to get private companies to do the dirty work of mass surveillance.

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Slackware, the Oldest Actively Maintained Linux Distro, Releases Version 15.0

Slashdot reader sombragris writes: Slackware, the oldest actively maintained Linux distribution, released version 15.0 yesterday after a long release cycle that goes all the way back to 2016 where the last version (14.2) was released. According to the release notes, the whole spirit of this release is: “Keep it familiar, but make it modern.”
Among the news, this release offers kernel 5.15.19, PAM, PipeWire and PulseAudio, Wayland and X11 graphical systems, and Rust and Python 3. As graphical environments, both Xfce 4.16 and the latest Plasma 5 (Plasma 5.23.5, Frameworks 5.90, KDE apps 21.12 running under Qt 5.15.3) are available, with Cinnamon and Mate also available from third parties. The main compilers are gcc-11.2 and llvm 13.0. The default browser is Firefox 91.5esr, with Chromium available as a third-party repository. And… no systemd at all.

Slackware can be downloaded from a variety of mirrors. BitTorrent downloads are going to be available too. I’ve used Slackware for 20 years and it’s always impressed me with its stability and speed. I encourage everyone interested to try it. Slashdot readers arfonrg and saxa also shared the news.

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Regulators Find Europe’s Ad-Tech Industry Acted Unlawfully

After a years-long process, data protection officials across the European Union have ruled that Europe’s ad tech industry has been operating unlawfully. Engadget reports: The decision, handed down by Belgium’s APD (.PDF) and agreed by regulators across the EU, found that the system underpinning the industry violated a number of principles of the General Data Protection Regulations (GDPR). The Irish Council for Civil Liberties has declared victory in its protracted battle against the authority which administers much of the advertising industry on the continent: IAB Europe. At the heart of this story is the use of the Transparency and Consent Framework (TCF), a standardized process to enable publishers to sell ad-space on their websites. This framework, set by IAB Europe, is meant to provide legal cover — in the form of those consent pop-ups which blight websites — enabling a silent, digital auction system known-as Real-Time Bidding (RTB). But both the nature of the consent given when you click a pop-up, and the data collected as part of the RTB process have now been deemed to violate the GDPR, which governs privacy rights in the bloc.

The APD has ruled that any and all data collected as part of this Real-Time Bidding process must now be deleted. This could have fairly substantial implications for many big tech companies with their own ad businesses, including Google and Facebook, as well as big data companies. It may also have a large impact on many media platforms and publishers on the continent who will now need to address the fallout from the finding. Regulators have also handed down an initial fine of 250,000 euros to IAB Europe and ordered the body to effectively rebuild the ad-tech framework it currently uses. This includes making the system GDPR compliant (if such a thing is possible) and appoint a dedicated Data Protection Officer. Until now, IAB Europe has maintained that it did not create any personal data, and said in December that it was a standards setter and trade association, rather than a data processor in its own right. IAB Europe says the ruling did not ban the use of Transparency and Consent Frameworks, adding that it’s looking to reform the process and “submit the Framework for approval as a GDPR transnational Code of Conduct.”

According to Engadget, [I]t may launch a legal challenge to fight the accusation that it is a data controller, a decision it says will “have major unintended negative consequences going well beyond the digital advertising industry.”

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First US Mile of Wireless EV Charging Road Coming To Detroit

The nation’s first stretch of road to wirelessly charge electric vehicles while they’re in motion will begin testing next year in Detroit. Axios reports: “Electrified” roadways, which have wireless charging infrastructure under the asphalt, could keep EVs operating around the clock, with unlimited range — a big deal for transit buses, delivery vans, long-haul trucks and even future robotaxis. In-road charging could also help pave the way for more widespread EV adoption by relieving consumers of the need to stop and plug in their cars. Electreon Wireless, an Israeli company whose plug-free charging infrastructure is already being tested in Europe, will deploy its first U.S. pilot in Detroit’s Michigan Central district, a new mobility innovation hub near downtown. The electrified road, up to a mile long, would allow EVs to charge whether they’re stopped or moving, and should be ready for testing in 2023. The state will contribute $1.9 million toward the project, which will also be supported by Ford Motor, DTE Energy and the city of Detroit.

Wireless EV charging systems use magnetic frequency to transfer power from coils buried underground to a receiver pad attached to the car’s underbelly. An EV can pull into a designated parking place with an underground charging pad and add electricity the same way a smartphone charges wirelessly. Along an electrified road, vehicles with wireless charging capability can suck up energy as they drive, but for all other cars, it’s an ordinary road. Wireless charging can add $3,000 to $4,000 to an already pricey EV, notes Meticulous Research. Electreon, which is working with carmakers to add receivers to their vehicles, aims to get the cost down to $1,000 or $1,500, Stefan Tongur, Electreon’s vice president of business development, tells Axios. Users would likely access the feature through a monthly subscription, he noted.

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