Editor: Vladimir Bajic | Tactical Investor
Random thoughts
This Bull started off as the most hated bull market in History; it is now metamorphosing into the most insane of all Bull Markets. By any measure, this Market needs to let out some steam; it is trading in the extreme of the extremely overbought ranges. Historically, the crowd is almost always in the bullish camp at this stage of the game, but that does not appear to be the case. In fact, what stands out is that the masses are as anxious as ever, and yet the markets are trading close to their highs. Stock Market Trends-Is the Stock Market Heading for a Crash?
Americans Looking Forward To Paying With Facial Recognition technologies
The survey, which is based on the responses of 1,000 U.S consumers, finds that more than half of American believe that payments between companies and customers will soon be conducted through mobile apps.
“People are willing to embrace a more convenient, frictionless payments future,” Viewpost CEO Max Eliscu said “Paper invoicing and checks are well on their way out in the consumer setting, and more businesses across the spectrum are beginning to follow suit with transactions among their trading partners. But electronic invoicing and payments are just the beginning — the future of the payments industry is highly dependent on leveraging innovations like biometrics, data integration, and a growing variety of payment methods to securely drive more volume with visibility, speed and simplicity.”
The survey also finds that 80 per cent of Americans are looking forward to future payment technologies and are interested in using technologies such as sensor fingerprinting, facial recognition, retinal scanning and voice control. Meanwhile, 20 per cent of respondents say currencies like bitcoin will be a practicable option within the next decade. Full Story
No More Paper Checks
“People are willing to embrace a more convenient, frictionless payments future,” Viewpost CEO Max Eliscu said in a released statement.
Electronic payments are already popular today, with services like PayPal, Apple Pay, Android Pay and apps like Venmo. Nearly 51 per cent of Americans said they had previously paid electronically via direct deposit. U.S. consumers aren’t fans of paying with paper checks.
“Paper invoicing and checks are well on their way out in the consumer setting, and more businesses across the spectrum are beginning to follow suit with transactions among their trading partners,” said Eliscu in a statement. “But electronic invoicing and payments are just the beginning — the future of the payments industry is highly dependent on leveraging innovation like biometrics, data integration, and a growing variety of payment methods to securely drive more volume with visibility, speed and simplicity.”
An overwhelming majority of respondents, 80 per cent, are looking forward to future payment technologies and are in favour of tools like sensor fingerprinting, facial recognition, retinal scanning and voice control. Full Story
Facial recognition database used by FBI is out of control
Approximately half of adult Americans’ photographs are stored in facial recognition databases that can be accessed by the FBI, without their knowledge or consent, in the hunt for suspected criminals. About 80% of photos in the FBI’s network are non-criminal entries, including pictures from driver’s licenses and passports. The algorithms used to identify matches are inaccurate about 15% of the time, and are more likely to misidentify black people than white people.
These are just some of the damning facts presented at last week’s House oversight committee hearing, where politicians and privacy campaigners criticized the FBI and called for stricter regulation of facial recognition technology at a time when it is creeping into law enforcement and business.
“Facial recognition technology is a powerful tool law enforcement can use to protect people, their property, our borders, and our nation,” said the committee chair, Jason Chaffetz, adding that in the private sector it can be used to protect financial transactions and prevent fraud or identity theft.
“But it can also be used by bad actors to harass or stalk individuals. It can be used in a way that chills free speech and free association by targeting people attending certain political meetings, protests, churches, or other types of places in the public.”Full Story
Other Stories of Interest
List Of Experts That Were Wrong On Trump’s 4 Percent GDP Target (Aug 2)
Stock Market Bull Still Healthy in 2018; follow the trend (July 20)
What if any are the Economic Consequences of Trump’s Trade War (July 19)
Trump to Unveil $1.5 Trillion Infrastructure Plan (Feb 18)
Oil majors strike it rich on rising crude prices (Feb 12)
When Will The Bull Market End? (Feb 10)
Forget About Higher US Rates; We Are Going Negative (Feb 09)
Stock market crash or healthy correction? (Feb 06)
Should you sell or stay put in the stock market? (Feb 02)
Huge Fifth Third stock buyback sends shares soaring (Jan 13)
Emerging Markets See Lowflation (Jan 11)
Why are most Americans not investing in the Stock market? (Jan 10)
