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Pulwama and Uri terror attacks: How govt reacted to the two

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How govt reacted to the two terror attacks

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Prime Minister Narendra Modi Friday asserted the security forces have been given permission to choose the timing, place and nature of their response to the Pulwama terror attack, which left 40 CRPF personnel dead on Thursday.

Without naming Pakistan, he told a public meeting that the attack was an outcome of the neighbouring country’s desperation as it is in a bad shape and has been forced to go to different countries with a “begging bowl” to meet even its daily expenses.

the terror attack in Pulwama has refreshed memories of another terror attack that took place more than two years ago — the 2016 Uri attack.

While on both occasions the government agreed that Pakistan should be isolated internationally for its continued support to terror groups, it was severely criticised for continuing trade with the neighbouring country in the wake of the Uri attack.

Here is how key members of the Modi government have responded to the two attacks:

Prime Minister Narendra Modi

Uri attack: Terrorists should hear out clearly that India will never forget the Uri attack… I want to tell the leadership of Pakistan that the sacrifice of our 18 jawans will not go in vain.”

Pulwama attack: “I want to tell terror groups and their supporters that they have made a big mistake. I want to assure the nation that those behind this attack will pay a big price.”

“If our neighbour who is totally isolated in the world thinks it can destabilise India through its tactics and conspiracies, then it is making a big mistake.”

Arun Jaitley

Uri attack: “The perpetrators of the Uri terror attack will face consequences. Diplomatic efforts to isolate Pakistan internationally will be intensified.”

Pulwama attack: “The Ministry of External Affairs (MEA) will initiate all possible diplomatic steps that have to be taken to ensure complete isolation of Pakistan, of which incontrovertible evidence is available, for having a direct hand in this gruesome incident.”

Rajnath Singh

Uri attack: “Pakistan is a terrorist state and it should be identified and isolated as such. There are definite and conclusive indications that the perpetrators of Uri attack were highly trained, heavily armed and specially equipped.”

Pulwama attack: “Jaish-e-Mohammed has carried out this terror attack. We assure the country that we will undertake whatever it takes to avenge this.”

Manohar Parrikar

Uri attack: “As a nation should ensure this is not repeated again and again. I will take steps to ensure it doesn’t go wrong again. PM’s statement that ‘those behind Uri attack will not go unpunished’, will not remain a mere statement.”

Pulwama attack: “The attack on CRPF jawans at Pulwama is an act of extreme cowardice and disregard for human life. India’s resolve for peace mustn’t be counted for weakness & passivity. India stands with CRPF, its martyred jawans and their families.”



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Facebook unveiled a cryptocurrency called Libra

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Facebook  unveiled a cryptocurrency called Libra yesterday, as well as the Libra Association, a not-for-profit that will oversee all things Libra. While Libra’s white paper draws a lot of inspiration from other cryptocurrencies, the current governance model and blockchain implementation remind me of banks more than bitcoin.

Permissioned blockchain

The Libra Blockchain is designed like a true blockchain, with a Byzantine Fault Tolerance approach, the use of Merkle trees to guarantee the integrity and a network of nodes.

And yet, unlike popular blockchains, such as the bitcoin blockchain or the Ethereum blockchain, you won’t be able to run a node in your backyard. Only founding members of the Libra Association  will be able to run a node. There are currently 28 members, such as Vodafone, Mastercard, Visa, Stripe, Uber and Spotify.

In other words, it looks like a blockchain, but it’s not a real blockchain. It’s not truly decentralized. It’s not truly open, as the ledger of transactions will be accessible to Libra Association founding members exclusively — unless Facebook or another founding member builds a public-facing API of some sort.

Facebook is well aware of that, as the company says it plans to let anyone run a node at some point over the next five years:

To ensure that Libra is truly open and always operates in the best interest of its users, our ambition is for the Libra network to become permissionless. The challenge is that as of today we do not believe that there is a proven solution that can deliver the scale, stability, and security needed to support billions of people and transactions across the globe through a permissionless network. One of the association’s directives will be to work with the community to research and implement this transition, which will begin within five years of the public launch of the Libra Blockchain and ecosystem.

Authorized resellers

The Libra cryptocurrency is a stablecoin, as it is tied to a basket of fiat currencies and securities. So it requires a lot of oversight to make sure that every time the Libra Association mints a Libra, they buy and store the equivalent in fiat currencies and securities in a bank account.

Similarly, every time someone converts Libra into, say, USD, the Libra Association has to issue a selling order on the equivalent in fiat currencies and securities.

That’s why the Libra Association will work with a list of authorized resellers. It creates a barrier to entry and transforms the Libra Association into a regulatory body for the Libra ecosystem.

Once again, this works against decentralization as only trustworthy partners will get a license to operate as an authorized reseller. Small financial institutions will have no choice but to work with an authorized reseller if their clients want to get paid back in Libra, for instance. All the founding members become a sort of Visa or Mastercard for the 21st century.

Other stablecoins, such as USDC, work in a similar fashion. If you want to support USDC on your exchange or payment service, you have to become a member of the CENTRE Consortium.

But anybody can look at the USDC ledger, as USDC is an ERC-20 token built on top of the Ethereum blockchain. If you run an Ethereum node, you indirectly contribute to USDC transactions. And there are a ton of partner exchanges that open up a lot of opportunities.

Shadow bank

There’s a reason why French Finance Minister Bruno Le Maire toldEurope 1 that Libra can’t “become a sovereign currency.” In some countries with high inflation rates, Libra could become an instant hit and power many of the peer-to-peer and even business-to-customer transactions.

But central banks that issue currencies and conduct monetary policies are members of the International Monetary Funds. They also have different objectives compared to private entities.

Given the current nature of the Libra Association, there’s a chance that Libra becomes a quasi-sovereign currency in Venezuela, Argentina, Turkey or South Africa — but it would be controlled by private companies that don’t care about monetary policies.

There’s a reason why the European Union is moving toward a single market but can’t agree at all on budget, tax harmonization and debt. Similarly, China cracked down on the shadow banking systembecause it caused systemic risks.

Governments will want strict oversight on the Libra Association because the association could change its goals overnight. What if they remove a fiat currency from the basket of fiat currencies and securities? What if they start issuing credit?

Essentially, the Libra Association is now in charge of a quasi-fiat currency and will face a ton of challenges on the regulatory front. It comes down from its governance structure and technical implementation.

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NYSC makes a promise to june 2019 corps members, speaks on new minimum wage

nysc june 2019

The Director-General,  NYSC, National Youth Service Corps, Brig-Gen. Shuaibu Ibrahim, has promised to adopt schemes that would make corps members employers of labour at the end of their one year compulsory service.

This is as prospective corps members prepare to resume camping in various locations across the country next week.

He also said that at the appropriate time the corps members will be communicated on the new minimum wage.

Ibrahim made the promise when he declared open a training workshop in Abuja on Saturday.

He said, “We have our usual camp activities but we will dwell much on the skill acquisition programmes targeted at making the corps members self reliant. Job is not readily available as it is but with knowledge and ideas, one can go places.

“We have such programmes on ground to train them in skill acquisition and entrepreneurial development. I can assure you that we are going to make them employers of labour.

“We are perfected arrangements to open their minds and eyes to contribute their quota to the training. The importance of the scheme is to promote connection, unity, peace and discipline amongst the corps members.

he also promised to with communicate them As for the new minimum wage.

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