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Christine Largade.

Breaking: European union central bank to go into digital currency but will not support Bitcoin – Ms. Christine Largade.

The European central bank supremo has given what may look at verdict on the current surge and clamouring for European union central bank to adopt the flagship currency Bitcoin and other cryptocurrency as one of the payment cross border for goods and services.

The ECB leader however acknowledged the gains of having blockchain technology in play and hinted a massive shift in the near future towards its adoption.

However she wasn’t very impressed with the activities of other cryptocurrency.

The main risk lies in relying purely on technology and the flawed concept of there being no identifiable issuer or claim. This also means that users cannot rely on crypto-assets maintaining a stable value: they are highly volatile, illiquid, speculative, and so do not fulfill all the functions of money,” Lagarde said.

It could be important in a range of future scenarios, from a decline in the use of cash to pre-empting the uptake of foreign digital currencies in the euro area. Issuing a digital euro might become necessary to ensure both continued access to central bank money and monetary sovereignty.

A properly designed digital euro would create synergies with the payments industry and enable the private sector to build new businesses based on digital euro-related services,”  she concluded.

Since the sudden hit of the pandemic COVID-19, Lagarde has declared her support for the digitalization of the Euro, elaborating deeper on what a digital euro could do. She had spoken privately and publicly of such importance as providing its citizens unrestricted access to money that is backed by a central bank, and allowing the Euro geopolitical area to maintain its monetary status quo in monetary exchanges across border.

Google Logo.

Breaking: Confusion as Google Changes Policy, to delete inactive drive users effective June 2021

The top tier and mainstay online search engine Google has just published a policy statement that would see a number of inactive users of it’s multiple products and services gets deleted effective 1st June 2021.

Google had earlier sent a notification to all her users to do the needful so as never to be caught unawares.

“We are writing to let you know that we recently announced new storage policies for Google accounts using Gmail, Google Drive (including GoogleDocs, Sheets, Slides, Drawings, Forms and Jamboard files) and/or Google Photos that bring us in line with industry practices. Since you have previously used one or more of these products in your Google account storage, we wanted to tell you about the new policies well before they go into effect on 1 June 2021” the notifications emails read in part.

Summary of the new policies effective 1 June 2021:

If you’re inactive  for two years (24 months) in Gmail, Drive or Photos, they may delete the content in the product(s) in which you’re inactive. Google one members who are within their storage quota and in good standing will not be impacted by this new inactive policy.

If you exceed your storage limit for two years,  they may also delete your content across Gmail, Drive and Photos.

What you should know.

Firstly, you won’t be impacted by these changes unless you’ve been inactive or over your storage limit for two years. As this policy goes into effect 1 June 2021, the earliest it would be enforced is 1 June 2023.

Secondly, after 1 June 2021, if you are either inactive or over your storage limit, google will send you email reminders and notifications in advance and prior to deleting any of your content.

lastly, even if you are either inactive or over your storage limit for one or more of these services and content is deleted, you will still be able to sign in.

What you must know.

The inactivity and over-quota storage policies will apply only to consumer users of Google services. Google Workspace,G Suite for Education and G Suitefor Nonprofits policies won’t be changing at this time or anytime soon. So just keep abreast and do diligence to ensure your account doesn’t stay so long inactive.

Samsung.

Samsung CEO announces surprise resignation as profits rise.

Samsung said on Friday its CEO and vice chairman Kwon Oh-hyun plans to step down from management, deepening concerns over a leadership vacuum at the tech giant after group scion Jay Y. Lee was jailed for bribery.

The surprise resignation of Samsung’s chip and display head came as he was expected to take a bigger role following Lee’s arrest in February and the departures of other key executives in the wake of the bribery scandal.

“The timing is nonsensical. Samsung tipped record earnings, it’s going to be better in the fourth-quarter, and all that’s been driven by Mr Kwon’s components business,” said Park Ju-gun, head of research firm CEO Score.

Mr Kwon, 64, is seen as Samsung Group No. 2. As well as being chairman of the board and a board director, he heads the components business – including memory chips – and the display business.

The world’s biggest maker of memory chips, smartphones and TVs is set to smash its annual profit record this year, thanks partly to soaring demand for memory chips. Semiconductors were Samsung’s top earner in the three months through June, making a record 8 trillion won (£5.40bn).

Not all those that wander are lost.

J. R. R. TOLKIEN

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