Chinese Cyber Operations Scoop Up Data for Political, Economic Aims

Mustang Panda is a Chinese hacking group that is suspected of attempting to infiltrate the Indonesian government last month.

The reported breach, which the Indonesians denied, fits the pattern of China’s recent cyberespionage campaigns. These attacks have been increasing over the past year, experts say, in search of social, economic and political intelligence from Asian countries and other nations across the globe.

“There’s been an upswing,” said Ben Read, director of cyberespionage analysis at Mandiant, a cybersecurity firm, in an interview with VOA. Cyber operations stemming from China are “pretty extensive campaigns that haven’t seemed to be restrained at all,” he said.

‘Large-scale and indiscriminate’

For years, China was considered the United States’ main cyber adversary, having coordinated teams both inside and outside the government conducting cyberespionage campaigns that were “large-scale and indiscriminate,” Josephine Wolff, an associate professor of cybersecurity policy at Tufts University, told VOA.

The 2014-15 hack on the U.S. Office of Personnel Management, in which the personnel records of 22 million federal workers were compromised, was a case in point — a “big grab,” she said.

After a 2015 cybersecurity agreement between then-U.S. President Barack Obama and Chinese President Xi Jinping, attacks from China declined, at least against the West, experts say.

Hacking rising with rhetoric

But as tensions rose between Beijing and Washington during the Trump presidency, Chinese cyberespionage also increased. Over the past year, experts have attributed notable hacks in the U.S., Europe and Asia to China’s Ministry of State Security, the nation’s civilian intelligence agency, which has taken the lead in Beijing’s cyberespionage, consolidating efforts by the People’s Liberation Army.

TAG-28, a Chinese state-sponsored hacking team focused on the Indian subcontinent, reportedly infiltrated targets that included the Indian government agency in charge of a database of biometric and digital identity information for more than 1 billion people, according to The Record, a media site focused on cybersecurity.

A Microsoft report released in October accuses the Chinese hacking group Chromium of targeting universities in Hong Kong and Taiwan and going after other countries’ governments and telecommunication providers.

Hafnium, the name Microsoft gave to a Chinese hacking group, was behind the Microsoft Exchange hack earlier this year, according to the company and the Biden administration. Chinese hacking teams, Microsoft reported, took advantage of a weakness in the software to grab what they could before an emergency patch could be issued.

Scooping up data

A National Public Radio investigation asserted that the Microsoft Exchange hack may have been, in part, an information scoop aimed at acquiring large amounts of data to train China’s artificial intelligence assets.

Hafnium also targets higher education, defense industry firms, think tanks, law firms and nongovernmental organizations, the Microsoft report said. Another group from China, Nickel — also known as APT15 and Vixen Panda — targets governments in Central and South America and Europe, Microsoft said.

“What you are seeing now is this realization that Chinese espionage never disappeared and has become more technologically sophisticated,” Wolff said.

White House response

The Biden administration has stepped up its response to Chinese hacking. Over the summer, the U.S. and its allies, including the European Union, NATO and the United Kingdom, accused China of being behind the Microsoft hack and called on Beijing to cease the activity.

The Biden administration has not indicted anyone related to the Microsoft Exchange hack, nor has it instituted economic or other sanctions against China.

However, the U.S. unsealed in July an indictment against four members of China’s Ministry of State Security in a separate attack conducted by a group that security researchers call Advanced Persistent Threat (APT) 40, Bronze, Mohawk and other names.

A Chinese government spokesman demanded that the U.S. drop the charges and denied the nation was behind the Microsoft Exchange hack.

“The United States ganged up with its allies to make unwarranted accusations against Chinese cybersecurity,” said Zhao Lijian, a Chinese Foreign Ministry spokesperson, in a July statement. “This was made up out of thin air and confused right and wrong. It is purely a smear and suppression with political motives.”

Pushing back

While China has stepped up its use of hacking, it has not crossed what some cyber experts say is a bright line in cyberespionage: public, overt hacks, such as the Russian disinformation campaign to influence the 2016 U.S. presidential election and, in May, the Colonial Pipeline ransomware hack, which was attributed to Russian-based cybercriminals.

China’s aims appear to be long term and both economic and strategic, such as shoring up its capabilities “so they are not only well defended but surpass capacities,” Philip Reiner, the CEO of the Institute for Security and Technology, told VOA.

A collective push from world leaders that cyberespionage is unacceptable might resonate with Chinese leaders in Beijing, who want to be accepted on the world stage, he said. Detailing clear consequences for state-sponsored hacks is also critical, he said.

Without a strong push from the U.S. and its allies, experts say, China’s state-sponsored cyberattacks will continue.

Source: Voice of America

Russian Agency: More than 49,000 Died From COVID-19 in August

Russia’s state statistics service reported nearly 50,000 coronavirus deaths in the country in August, taking the toll since the beginning of the pandemic to over 400,000, nearly double the official government figure.

Rosstat released its figures late Friday, reporting that 49,389 people died from COVID-19 in August, a figure much higher than 24,661, the government tally for the same month.

Overall, Rosstat says around 418,000 people have died in Russia since the pandemic began. This nearly doubles the official total death toll of 214,000 published by the Russian coronavirus task force earlier Friday.

Russian officials explained the discrepancy, saying COVID-19 deaths are counted differently by the two agencies. The government coronavirus task force counts only fatalities for which an autopsy confirms COVID-19 as the primary cause of death, while Rosstat uses a broader definition for deaths linked to the virus.

In other developments Friday, the World Health Organization announced it has established and released the first standardized clinical definition of what is commonly known as “long COVID” to help boost treatment for sufferers.

Speaking virtually to reporters from the agency’s Geneva headquarters, WHO Head of Clinical Management Janet Diaz said the definition was agreed on after global consultations with health officials.

She said the condition, in which symptoms of the illness persist well beyond what is commonly experienced, is usually referred to as “post COVID.” Moreover, it occurs in people who have had confirmed or probable new coronavirus infections, “usually three months on from the onset of the COVID-19, with symptoms that last for at least two months and cannot be explained by an alternative diagnosis.”

Those symptoms include fatigue, shortness of breath and cognitive dysfunction, she said, but there also are others that generally have an adverse effect on everyday functioning. Diaz said that until now, a lack of clarity among health care professionals about the condition has complicated efforts in advancing research and treatment.

In the United States, officials said they would accept the use by international travelers of any COVID-19 vaccine authorized by U.S. regulators or the WHO. Last month, the White House announced that it would lift travel restrictions on people from 33 countries who show proof of vaccination. Officials did not say at that time which vaccines would be accepted, however.

The Associated Press reports that the number of Americans getting COVID-19 vaccines has reached a three-month high, averaging 1 million per day, as more employers mandate the shots and some Americans seek boosters. That figure is almost double the level for mid-July but still well below last spring, according to the AP.

Meanwhile, a senior White House official announced Friday that the U.S. government is shipping more than 1.8 million doses of the Pfizer COVID-19 vaccine to the Philippines — a donation that will be executed through the WHO-managed COVAX vaccine cooperative. The doses will arrive in two shipments, probably Sunday and Monday, according to the official.

U.S. drugmaker Moderna announced earlier Friday it was planning to deliver another 1 billion doses of its COVID-19 vaccine to low-income countries next year. In a message posted to the company’s website, Moderna CEO Stéphane Bancel said the company was investing to expand its capacity to deliver the additional doses.

The disclosure is part of what Bancel describes as his company’s five-pillar strategy to ensure low-income countries get access to the company’s vaccine. The plan includes not enforcing its vaccine patents, expanding its production capacity worldwide, and working with the United States and others to distribute their surplus doses of vaccine.

Source: Voice of America

Biden Signs Law Helping ‘Havana Syndrome’ Victims

President Joe Biden on Friday signed legislation that will provide financial support to U.S. government employees believed to be suffering from the so-called Havana syndrome, mysterious health incidents that have affected American intelligence officers, diplomats and other personnel around the world.

“Today, I was pleased to sign the HAVANA Act into law to ensure we are doing our utmost to provide for U.S. Government personnel who have experienced anomalous health incidents,” Biden said in a statement released by the White House.

The Helping American Victims Afflicted by Neurological Attacks Act, or HAVANA Act, was passed unanimously by the Senate on June 7 and the House of Representatives on Tuesday.

In his statement, Biden acknowledged that American civil servants, intelligence officers, diplomats and military personnel around the world have been affected by “anomalous health incidents,” and some are struggling with debilitating brain injuries that have curtailed their careers. He vowed to commit the full resources of the U.S. government to provide medical care to victims and determine what causes it and who is responsible.

The Havana syndrome — a set of ailments that includes migraines, nausea, dizziness, tinnitus, visual and hearing problems, vertigo, memory lapses, and even mental breakdown — became public in 2016 after dozens of diplomats at the U.S. Embassy in Havana complained of the symptoms. Since then, other U.S. personnel in China, Russia, Poland, Austria and other countries have reported similar symptoms.

Robyn Garfield, an advocate for Havana syndrome victims, welcomed the signing but said much more needs to be done. As a Commerce Department officer, Garfield was evacuated from Shanghai, China, with his wife and two children in June 2018 after experiencing symptoms.

“We remain deeply concerned by the continued disparity in treatment and support among different agencies of our government,” Garfield said in a statement to VOA. “In concert with implementation of the HAVANA Act, we urge the Administration to adopt a uniform diagnostic and treatment protocol across agencies to ensure that all who serve, and their families, have access to the best possible care.”

Garfield said that for too long, too many victims have faced skepticism and have been treated as adversaries instead of partners by the agencies they worked for. “That needs to stop.”

While the cause of Havana syndrome remains under investigation by the intelligence community, a 2020 National Academy of Sciences report concluded that “directed, pulsed radio frequency energy appears to be the most plausible mechanism in explaining” these anomalous health incidents.

Dr. David Relman, a professor of microbiology and immunology at Stanford University who chaired the committee that produced the report, welcomed the legislation.

“This is good news. This has been a long time— too long, in coming,” Relman said in a statement to VOA. “The public needs to acknowledge the many sacrifices by these folks, and their families, who serve our nation in so many ways.”

Frustrated victims

Several diplomats and government personnel who believe they are suffering from Havana syndrome expressed their frustration over having to fight a skeptical bureaucracy when reporting incidents and finding care.

“How are we going to take care of ourselves, our family and our kids?” said one civil servant who spoke to VOA on condition of anonymity.

They also complain that government acknowledgement of their suffering differs according to the country where the incident happened.

“The people who were impacted in Cuba all got plaques saying you were attacked,” said one diplomat who also asked not to be named. “The people in China — only one person has been acknowledged by the State Department to have been impacted in some way.”

The White House denied the accusation when asked by VOA.

“Our objective and the president’s commitment is to standardizing the reporting process, is to ensuring we’re improving the quality and speed of medical care, is to ensuring every case that comes forward is taken seriously, treated seriously,” said press secretary Jen Psaki.

“That has not always been the case, but that is our objective and the commitment of this administration,” Psaki added. She pointed out that Biden was the first president to acknowledge the existence of Havana syndrome and underscored that steps were being taken to coordinate reporting among the different agencies.

New cases

On the same day Biden signed the bill, German newspaper Der Spiegel reported that German police were investigating several cases of “alleged sonic weapon attack on employees of the U.S. Embassy” in Berlin.

In August, U.S. Vice President Kamala Harris’ flight from Singapore to Vietnam was delayed by several hours after reports of a “possible anomalous health incident,” according to the State Department.

The legislation that Biden signed authorizes the CIA director and the secretary of state to provide injured employees with additional financial support for brain injuries. The CIA and State Department would be required to create regulations detailing fair and equitable criteria for payment and report to Congress on how this authority was being used.

The bill was authored by Senator Susan Collins of Maine and co-sponsored by Senators Mark Warner, Marco Rubio and Jeanne Shaheen.

“These Americans who experienced traumatic brain injuries from likely directed energy attacks while serving our country should have been treated the same way we treat a soldier who suffered a traumatic brain injury on the battlefield,” said Collins in a statement released after the signing.

“Now that the HAVANA Act has been signed into law, Havana syndrome victims will finally receive the financial assistance and medical support that they deserve,” Collins said. “As we continue our efforts to support victims, we must also redouble our whole-of-government approach to identify and stop the heartless adversary who is harming U.S. personnel.”

Marc Polymeropoulos, a 26-year veteran of the CIA, was forced to retire in 2019 after being hit by a suspected directed energy attack in Moscow in late 2017. He welcomed Biden’s announcement.

“The signing of the Havana Act is a watershed moment for the victims. It is an acknowledgement from the (U.S. government) that the attacks are real, and an admission that the (U.S. government) for a long time has not treated victims properly,” he told VOA in a statement. “I am very thankful to Congress, on both sides of the aisle, who has championed the victims’ cause, as well as the Biden administration — for finally acting to provide financial relief to those with terrible injuries.”

It is unclear just how many people have fallen victim to Havana syndrome, but various media reports estimate as many as 200 Americans around the world have come forward to describe symptoms.

Source: Voice of America

Seaweed a model solution for fighting climate change

Seaweed a model solution for fighting climate change

Researchers from KAUST and Aarhus university believe they have identified a model solution to climate change, biodiversity loss, joblessness, hunger and environmental damage. In a paper published in Nature Sustainability, the co-authors outline how the cultivation and use of seaweed as a carbon capture technology, a job and tax revenue generator, and a food source, can protect and restore the planet. Credit photos from Aarhus to Michael Bo Rasmussen, Aarhus University.

THUWAL, Saudi Arabia, Oct. 07, 2021 (GLOBE NEWSWIRE) — Seaweed, as its unfortunate name suggests, can be a nuisance. It makes a mess of beautiful beaches. It bobs up and down in the waves in an unsightly blob. And it sticks to unsuspecting swimmers as they try to enjoy a dip. But despite its reputation with some ocean goers, seaweed just might be one of the most powerful tools we have to save the planet from manmade climate change while providing a path to realizing many of the UN Sustainable Development Goals.

Researchers from KAUST and Aarhus University believe seaweed is a model solution to climate change, biodiversity loss, joblessness, hunger and environmental damage. In a paper published in Nature Sustainability the co-authors outline how the cultivation and use of seaweed as a carbon capture technology, a job and tax revenue generator, and a food source, can help protect and restore our planet.

“Our research consolidates seaweed farming as an underpinning of a sustainable future,” Professor Carlos Duarte, study lead author said. “It is scalable, with a 2,000-fold increase potential, it generates valuable products while also contributing to carbon sequestration below the farm, it produces sustainable fuels, and it displaces carbon-intensive products, thereby providing a range of contributions to climate action. While growing at sea, seaweed forms an ecosystem that delivers multiple benefits to the marine environment.”

The cultivation and use of seaweed, the authors believe, will directly support six of the UN Sustainable Development Goals (SDGs), and indirectly support several others. Achieving zero hunger, supporting good health, making clean energy affordable, as well as supporting industrial innovation, climate action, and ocean conservation, are all outcomes of cultivating seaweed. Not only is the plant climate positive, profitable, and edible, but it promises to feed and employ millions while preserving the planet and fostering poverty reduction and gender equality.

“Seaweed provides wonderful materials for a range of applications, grounded in their amazing diversity, as seaweed are as far apart from a genomic perspective as mushrooms and elephants. This genomic diversity provides a phenomenal source of new materials across a range of industries, from food, to fuels and plastics,” Duarte said.

The pitch, as much as there is one, is that seaweed cultivation must be ramped up significantly. This, of course, might encounter roadblocks in legislatures around the world as western regulations, where seaweed farming is just starting, are quite unwelcoming to seaweed aquaculture. The paper outlines in broad terms the objections that could be raised and addresses them in turn.

“Because seaweed farming is a new industry in western nations, existing regulatory frameworks do not facilitate its development. In some nations it is easier to get a concession for marine oil and gas extraction than for a seaweed farm. Creating a friendlier regulatory environment that encourages, rather than deter, seaweed farming will be critical to delivering on its potential.”

“Currently, seaweed farming occupies about 2,000 Km2 of land, compared to about 60 million Km2 land food producing systems occupy. We consider that about 4 million Km2 of ocean can support seaweed aquaculture while delivering positive impacts on the marine environment. In the rump-up to COP26, we consider that scaling seaweed farming can be a wedge of a regenerative approach to our oceans, delivering climate action while alleviating hunger and poverty,” Duarte said.

Professor Dorte Krause-Jensen from Aarhus University adds that sustainability standards and consideration of the carrying capacity for seaweed farming need be in place to avoid potential unattended negative consequences the farming.

“The utilisation of seaweed in a cascading biorefinery extracting biomolecules sequentially, offers a path to maximise the value of the biomass and render seaweed farming profitable, even in Western countries where costs are higher” said senior researcher Annette Bruhn of Aarhus University. “Promoting sustainable seaweed cultivation as an emission capture and utilisation technology supporting the circular bioeconomy, calls for a cross-sectorial approach to solving societal challenges. We need a disruption of the traditional way of thinking climate, environment and resource provision in each their sector and we need partnerships between science, industry and authorities”.

About KAUST

King Abdullah University of Science and Technology (KAUST) advances science and technology through distinctive and collaborative research integrated with graduate education. Located on the Red Sea coast in Saudi Arabia, KAUST conducts curiosity-driven and goal-oriented research to address global challenges related to food, water, energy, and the environment.

Established in 2009, KAUST is a catalyst for innovation, economic development and social prosperity in Saudi Arabia and the world. The University currently educates and trains master’s and doctoral students, supported by an academic community of faculty members, postdoctoral fellows and research scientists. With over 100 nationalities working and living at KAUST, the University brings together people and ideas from all over the world.

To learn more visit kaust.edu.sa.

About Aarhus

Aarhus University has been achieving excellence in research and education since 1928. Being a top 100 university with more than 50 Masters and Bachelors educations in English, Aarhus University is a leading globally oriented university with a strong engagement in the solving the societal challenges on local and global scale.

Department of Bioscience provide teaching, research and consultancy in all aspects of life; from bacteria to whales, from genes to ecosystems and from fundamental research to applied biology in nature management and biotechnology.

To learn more visit https://international.au.dk/

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5141687d-2aea-43e1-bddc-623aab93621f

For more information, please contact global.pr@kaust.edu.sa

Helsinn Group announces oral presentation of data at AACR-NCI-EORTC relating to a potent and highly selective investigational RET inhibitor

Helsinn Group announces oral presentation of data at AACR-NCI-EORTC relating to a potent and highly selective investigational RET inhibitor

Lugano, Switzerland, 7 October 2021  Helsinn Group, a Swiss Biopharmaceutical Group with an innovative R&D pipeline in cancer supportive care and oncology therapeutics, strategically investing in a fully integrated targeted therapy structure to develop, manufacture and commercialize small molecules in precision medicine with higher market potential, today announces the acceptance of two abstracts on a potent and highly selective RET inhibitor at the AACR-NCI-EORTC Virtual International Conference on Molecular Targets and Cancer Therapeutics, taking place from 7-10 October.

One abstract has been accepted for oral presentation and shows findings on TAS0953/HM06, the selective RET inhibitor under investigation in non-small cell lung cancer (NSCLC) and other cancers. The abstract is entitled Discovery of TAS0953/HM06, a novel next generation RET-specific inhibitor capable of inhibiting RET solvent front mutations. Extensive preclinical data is being developed to assess TAS0953/HM06. Preliminary results demonstrate potency against the RET solvent front mutation resistance mechanism. Full details of the presentation are below:

  • Date: Saturday 9 October
  • Plenary Session 6: New Drugs on the Horizon II
  • Time: 16:25-16:40 ET
  • Presenter: Isao Miyazaki

In addition to the oral presentation, the second abstract has been accepted as a video poster entitled TAS0953/HM06 is effective in preclinical models of diverse tumor types driven by RET alterations. This second abstract highlights the investigational compound’s activity across tumor types such as lung, thyroid carcinomas and soft-tissue sarcoma.

A Phase 1/2 clinical trial is ongoing for TAS0953/HM06, an investigational oral treatment which is evaluating inhibition of several RET abnormalities identified as oncogenic driver alterations in NSCLC, papillary and medullary thyroid cancers, and several other tumor types. This innovative drug candidate offers several differentiating features.

Sergio CantoreggiGroup Chief Scientific Officer and Group Head of R&D commented: “We are pleased to be sharing this important pre-clinical data on TAS0953/HM06 at AACR-NCI-EORTC. Although first-generation selective RET inhibitors show clinical antitumor activity in NSCLC, acquired resistances driven by RET solvent front mutations have emerged. TAS0953/HM06 is currently under investigation in a Phase 1/2 clinical trial and we will continue to work closely with Taiho as further data emerge. We remain hopeful that this investigational compound could offer significant benefits for patients with NSCLC and other tumors that harbor RET abnormalities.”

TAS0953/HM06 is an investigational agent and is not approved for commercial use in any country.

About TAS0953/HM06

TAS0953/HM06 is an oral potent and highly selective RET inhibitor in development for advanced or metastatic Non-Small Cell Lung Cancer (NSCLC) and other tumors which express RET gene abnormalities.

Taiho Pharmaceutical Co., Ltd. and Helsinn signed a co-development and commercialization agreement for TAS0953/HM06 in 2017 and will continue to pursue together all preclinical, clinical and CMC developments. This alliance also includes efforts to reach as many patients as possible around the world through their own commercial infrastructures or through valued partners.

About RET abnormalities in NSCLC and other cancers1

RET kinase abnormalities have been identified as targetable oncogenic drivers in NSCLC, papillary and medullary thyroid cancers, and several other tumor types. In NSCLC, RET fusions are more common in younger patients with no prior history of smoking and in those with adenocarcinomas, however the underlying mechanisms remain unknown.

References

1 Helsinn and Taiho research and analysis of ASCO 2018; ASCO 2019; Cancer Biol Ther 2015; Cell Rep 2017; JCO 2018; Johns Hopkins 2019; Nat Med 2012; Nat Rev Clin Oncol 2018; OMIM; Onco Targets Ther 2019

About the Helsinn Group

Helsinn is a Swiss Biopharmaceutical Group with an innovative R&D pipeline in cancer supportive care and oncology therapeutics, strategically investing in a fully integrated targeted therapy structure to develop, manufacture and commercialize small molecules in precision medicine with higher market potential, thanks to a consolidated track record, a solid revenue stream in B2B and strong cash flow and cash position.

Helsinn is building market differentiation in B2C in the U.S. and China and is owned by a third-generation healthcare entrepreneurial family.

Since 1976, Helsinn has been improving the lives of patients, guided by core family values of respect, integrity and quality and through a unique integrated licensing business model, and by collaborating with success in about 190 countries with long-standing partners, who share our values.

The Group’s pharmaceutical business (Helsinn Healthcare S.A.) is headquartered in Lugano, Switzerland with operating subsidiaries in the U.S. (Helsinn Therapeutics (U.S.), Inc.) and China (Helsinn Pharmaceuticals (Beijing) Co., Ltd) which market the Group’s products directly in these countries. The Group has additional operating subsidiaries in Switzerland (Helsinn Advanced Synthesis S.A., an active pharmaceutical ingredient manufacturer) and Ireland (Helsinn Birex Pharmaceuticals Ltd, a drug product manufacturer).

Helsinn Group plays an active and central role in promoting social transformation in favor of people and the environment. Corporate social responsibility is at the heart of everything we do which is reinforced in the company’s strategic plan by a commitment to sustainable growth.

To learn more about Helsinn Group please visit www.helsinn.com

About Taiho Pharmaceutical Co., Ltd. (Japan)

Taiho Pharmaceutical, a subsidiary of Otsuka Holdings Co., Ltd., is an R&D-driven specialty pharma company with a focus on oncology. Taiho Pharmaceutical also has development programs in allergy and immunology, urology and consumer healthcare products. Our corporate philosophy is simple: “We strive to improve human health and contribute to a society enriched by smiles.”

For more information about Taiho Pharmaceutical, please visit: https://www.taiho.co.jp/en/

For more information:

Helsinn Group Media Contact:

Paola Bonvicini

Group Head of Communication

Lugano, Switzerland

Tel: +41 (0) 91 985 21 21

Email: Info-hhc@helsinn.com

For more information, please visit www.helsinn.com and follow us on Twitter and LinkedIn

HELS–0016

Webtel.mobi’s System and TUV Digital Currency – 21st Century Versions of Keynes’s International Clearing Union and Bancor

WM’s independently reviewed system provides the fully-functional and globally operational structures and processes as proposed by John Maynard Keynes at the Bretton Woods Conference – and provide the key to reform the Global Financial System

Webtel.mobi – Connecting the world
WEBTEL.MOBI’s SYSTEM AND TUV DIGITAL CURRENCY – 21st CENTURY VERSIONS OF KEYNES’S INTERNATIONAL CLEARING UNION AND BANCORWM’s independently reviewed system provides the fully-functional and globally operational structures and processes as proposed by John Maynard Keynes at the Bretton Woods Conference – and provide the key to reform of the Global Financial System

ST PETER PORT, Guernsey and NEW YORK, Oct. 07, 2021 (GLOBE NEWSWIRE) — Global Telephony Company Webtel.mobi (“WM”) spent several years creating its first operational platform – Platform 1 – which was made live in 2009.

On completion, Platform 1 already had within it all of the components and processes of Keynes’s proposed International Clearing Union and Bancor – the proposed pillars of a post-WW2 new and stable Global Financial System.

However, to fully confirm and refine the system’s capacities, processes, and the thousands of requirements to ensure a safe, stable, legal, and fit-for-purpose Global Financial System in a regulatorily compliant environment – WM spent the next nine years until 2018 in fully operational global testing with limited user groups worldwide.

Thereafter, from 2018 to 2021, WM rebuilt its system in its entirety to incorporate into its new Platform 2 all the required refinements identified during the operational testing phase. WM’s Platform 2 was made fully operational for unrestricted global operations in Q3 2021.

The top-level characteristics of the WM System include the following:

  1. It is a fully 21st Century version of Keynes’s proposed International Clearing Union – powered by an Artificial Intelligence Complex Adaptive System. It functions within the telecommunications Sector – as does SWIFT.
  2. It has within it all components of a fully functional Global Financial System – with over 40 Primary Facilities – of which its TUV Digital Currency is only one.
  3. These 40 Primary Facilities function together within the Complex Adaptive System in a manner enabling convergence to arise in respect of their use. That is, although they are all primarily Telephony-Support Facilities, the Complex Adaptive System enables them, when working together, to facilitate or acquire dual-use capacities, which in turn enables them to act as substitute processes, products, activities, or instruments that can be used for virtually every transaction type that exists. WM’s Platform 2 is not a product or service, it is a System, which has hundreds of products, services and instruments which further facilitate thousands of derivative uses.
  4. All these products, services and instruments are provided from a single global unitary System and Platform, which has the highest standards of security and reliability, the fastest transactions speeds, permanent and 100% liquidity, functioning 24/7/365, worldwide. It also provides all these services at either ultra-low cost or zero cost due to its optimized structure.
  5. It provides these services without threatening the stability of any of the primary pillars of the current Global Financial System, or infringing on the sole rights of Central Banks or States regarding their Monetary Policy, Money Supply or Currency Sovereignty.
  6. The functioning system also – from theoretical and academic perspectives – potentially disproves, proves, or establishes several economic theories and/or laws.

Other than the 30+ thorough due diligences by external parties that WM underwent during its period of fully operational testing and refinement, it also invited the Levy Economics Institute of Bard Colleague – one of the most authoritative Economics Research Organizations in the world – to review its Platform 2.

This review resulted in the Levy Economics Institute’s Head of Research – Professor Jan Kregel – authoring five Research Papers on the WM System, in which he independently described the capacities of the WM Global System, and confirmed its similarity to Keynes’s proposed International Clearing Union (Note: Links to these research reports appear in the “Resources” section of this article).

Although the capacities of the WM System have resulted in it having immense value, this is rather a by-product of the System’s capacities – and was not the primary reason for its creation.

The primary reason was to create a system that positively impacted all people’s lives, by giving them access to reliable and safe, intermediary-free, essential and utility-level services, at ultra-low cost or zero cost. In order to do so, it was necessary to create a system that replicated and reformed – but did not disturb – the current Global Financial System; which WM has now done. Consequently, WM conducts itself with complete transparency.

This is because, firstly, WM follows an “Evolution not Revolution” approach in respect of assisting any entities that require advice on reform of existing structures or processes within the Global Financial or Economic System.

Secondly, it will not be possible for any entity – even with unlimited resources and a detailed roadmap – to replicate the WM System for at least a decade if not longer, and WM is therefore very secure in its situation.

As was stated by Professor Kregel in his Research Paper “New Dimensions for the TUV in the Webtel.mobi System” in June 2021:

“…the WM system represents and provides virtually all capacities (and/or the ability to replicate virtually all capacities) of the existing global financial system. Moreover, it provides them in a more secure, more rapid, less costly and centrally managed manner. The WM system therefore represents an operational and fully functioning global financial system, which does not reform the existing one, but rather functions in parallel to it, and has the capacity to replace it.”

The WM System and its Facilities do not represent aspirational, planned, or hoped-for outcomes.

Rather, the System and its Facilities – and all their attributes – are tested, proven, due diligence, completed and fully operational fact and reality worldwide.

Resources:

Media Contact:
Nick Lambert: wm@thoburns.com

Interview with Professor Jan Kregel on the Capacities of the WM System:
https://youtu.be/XYBrCikUhn8

Research Paper – Another Bretton Woods Reform Moment: Let us look seriously at the Clearing Union
https://www.levyinstitute.org/pubs/ppb_154.pdf

Research Paper – Keynes’s Clearing Union is Alive and Well and Living in Your Mobile Phone
https://www.levyinstitute.org/pubs/pn_21_1.pdf

Research Paper – The Economic Problem: From Barter to Commodity Money to Electronic Money
https://www.levyinstitute.org/pubs/wp_982.pdf

Research Paper – Money and Credit: Potential Expansion of the WM System
https://webtel.mobi/media/info/money-and-credit-potential-expansion-of-the-wm-system-april-2021.pdf

Research Paper – New Dimensions for the TUV in the Webtel.mobi System
https://webtel.mobi/media/info/new-dimensions-for-the-tuv-in-the-webtelmobi-system.pdf

Related article on the WM System:

https://tinyurl.com/yez4x9bf (English Translation)
https://tinyurl.com/5aa3pjnc (Greek Original)

WM’s urls:
https://webtel.mobi/pc (Tablets / Laptops / Desktops)
https://webtel.mobi (Smart Phones)
https://webtel.mobi/wap (Pre-Smart Mobile Phones)

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/60f3de02-dd9c-43a7-9063-046c9aae283d

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.