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U.S. President Donald Trump’s executive order that bars refuges and travelers from seven majority-Muslim countries—Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen—from entering the United States for at least 90 days didn’t sit well with Apple.
The Wall Street Journal reported Wednesday that the Cupertino firm is weighing its legal options and considering challenging POTUS‘s executive order on immigration.
In an interview with the Wall Street Journal, Cook said he’s heard “heart-wrenching stories” from company employees about how Trump’s executive order was affecting them. “These are people that have friends and family. They’re co-workers. They’re taxpayers. They’re key parts of the community,” he said.
Because Apple now sells its products in more than 180 countries and territories, it is more important than ever before that its staff “look like the world,” he continued.
Cook is now trying to convince some “very, very senior people in the White House” that challenging the ruling is important for Apple’s ability to recruit top talent from abroad.
“More than any country in the world, this country is strong because of our immigrant background and our capacity and ability as people to welcome people from all kinds of backgrounds,” Apple’s chief executive said just a day after Amazon submitted a declaration of support for a lawsuit.
“That’s what makes us special,” said Cook. “We ought to pause and really think deeply through that.” He also issued a company-wide memo to employees last week.
In the memo, obtained by The Verge, Cook explained why Apple does not support Trump’s executive orders to limit immigration from select countries to U.S.
It is “not a policy we support,” he wrote.
Here’s the full memo:
In my conversations with officials here in Washington this week, I’ve made it clear that Apple believes deeply in the importance of immigration — both to our company and to our nation’s future. Apple would not exist without immigration, let alone thrive and innovate the way we do.
I’ve heard from many of you who are deeply concerned about the executive order issued yesterday restricting immigration from seven Muslim-majority countries. I share your concerns. It is not a policy we support.
There are employees at Apple who are directly affected by yesterday’s immigration order. Our HR, Legal and Security teams are in contact with them, and Apple will do everything we can to support them. We’re providing resources on AppleWeb for anyone with questions or concerns about immigration policies. And we have reached out to the White House to explain the negative effect on our coworkers and our company.
As I’ve said many times, diversity makes our team stronger. And if there’s one thing I know about the people at Apple, it’s the depth of our empathy and support for one another. It’s as important now as it’s ever been, and it will not weaken one bit. I know I can count on all of you to make sure everyone at Apple feels welcome, respected and valued.
Apple is open. Open to everyone, no matter where they come from, which language they speak, who they love or how they worship. Our employees represent the finest talent in the world, and our team hails from every corner of the globe.
In the words of Dr. Martin Luther King, “We may have all come on different ships, but we are in the same boat now.”
Aside from Apple, a bunch of well-known technology companies like Facebook, Google, Uber and many others are planning to, or are considering repealing Trump’s controversial executive order also referred to as the Muslim ban.
Source: The Wall Street Journal
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Real estate tycoon turned entertainer turned Republican Presidential candidate Donald Trump recently gave a speech saying, among other things, he wants to force Apple to make its products in the U.S. instead of “other countries”.
As Trump put it: “We’re going to get Apple to build their damn computers and things in this country instead of other countries.”
Perhaps this sounds like a not terrible idea to you.
Except that no one country — not even China — makes all of the components of Apple’s leading products, they just assemble them. And the U.S. has neither the factory space nor the trained workforce to handle construction of Apple’s most popular product, the iPhone, in the immediate future.
And if they did, it would add cost to an already expensive device. And all of that would be done for significantly fewer jobs, because American labor is expensive.
That’s probably one big factor why the only major Apple product that is currently made and assembled mostly in the U.S. is the Mac Pro computer, which starts at $2,999.
With apologies to anyone who’s still on board then, Trump’s statement about bringing Apple’s production to the U.S. is probably going nowhere. Every member of Congress who took campaign funds from an international corporation in the previous and current election cycles (and there are many of them) would likely be opposed to something that costs more money. It would harm corporate profits, it would harm free trade, and it would harm us, the consumers.
Intelligent citizens can see the potential complications bubbling up from beneath the surface on this newest declaration from the four-time bankruptcy filer, but we wanted the opinion of someone who professionally handles these kinds of questions to weigh in.
Justin Rose is a Chicago-based Partner at The Boston Consulting Group, which, among other things, helps companies decided on things like whether to move production from a foreign country to a domestic site.
We asked him about the iPhone situation, and he was made it clear how nebulous this issue really is.
What Rose means is that the iPhone isn’t a $700 device because of the assembly of a hardware device in Asian markets and a supply-demand ratio. It’s a bigger picture of marketing. “The design, marketing and software of the iPhone represent some of the most value added components – all or much of which is Made in the USA – and at much higher paying, higher skilled jobs.”
He went further on that point: “It begs the question of what exactly it means to have an “American-made iPhone.” Does it mean that the assembly happens in the US? That isn’t crazy–Motorola did this recently in Texas, though they have now shuttered the facility,” explains Rose.“The iPhone is not a device exclusively made for U.S. customers.”
It’s not just the potential price increase that needs to be considered. Motherboard put the potential immediate increase around $50 to the customer, but that doesn’t necessarily mean that Apple maintains revenue by charging an extra $50, or that the company doesn’t take a loss for a few years until new factories are online.
And we should take this opportunity to remind everyone–especially Donald Trump–that the iPhone is not a device exclusively made for U.S. customers.
The Economist did an extensive review of how other countries, with complex import laws, handle their iPhone needs, and it’s a good reminder that these things have homes in countries all around the world, rich and poor.
So yes, a lot of factors go into the decision making process. Rose listed cost, quality, flexibility, labor availability, taxes, and permits as some of major concerns.
And labor has been one of the sharpest fixation points in discussion about the Trump idea. Rose seems to think that the jobs wouldn’t be great for Americans.
“Of course, these are relatively low paying unskilled jobs,” he says, “So it is unclear that it would even be an attractive outcome for American workers. Chinese ‘value add’ has been estimated to be as low as $10-20 per phone [meaning that’s how much it saves to have them assembled there], so bringing this to the USA doesn’t exactly change the game from a trade standpoint.”
And it gets more complicated from there, so stay with us.
Rose reminded us that while there were assembly factories in the crosshairs for this discussion, those factories are putting components together made at other factories. “Does [American made] mean the components are made in the US? In that sense, we would be reshoring from China but rather Korea, Germany, Japan and Taiwan for things like displays, memory chips, processors, etc. Do we mean raw materials? So we need to mine the metals that go into the phone? The question becomes increasingly ridiculous as you drill down into it.”
Workers at Foxconn factory in Guizhou, China
Foxconn is the leading manufacturer of Apple iPhones worldwide.
And even if Apple were willing to uproot that infrastructure under threat of some massive tax Trump has in mind to punish companies for offshoring, it’s not going to happen within a span of time that the former reality TV star would appear to desire.
Rose explained that “Clearly it cannot be done in a flash. Uprooting supply chains is a multi-year and sometimes decade long endeavor. Staffing a factory isn’t the challenge; it is building the network of suppliers, winding down and standing up new contracts, working out the global logistics impact, etc. If there is a Trump administration, the probability of the majority of iPhones being truly ‘made’ in the sense of the components and labor sourced from the USA during his tenure is near zero.”
And even if it was moved before Trump left office, it’s probably not enough to put a dent in unemployment numbers. A Forbes piece explained that bringing low-pay jobs to the US would effectively make Americans poorer.
Rose says it would “surely create jobs—[but] the scale of the job creation would of course depend on the size of the operations brought back.”
That’s because anyone planning a U.S. factory today would likely want to do as much with automation as possible.
“Robotics are increasingly used to drive efficiency and for good reason–in many industries they can reduce the cost structure by 20-30 percent or more,” says Rose. “But even when robotics are embedded in a factory production system you require humans to set up, tend to and maintain the robots. And again, many of these new collaborative jobs are higher paying than the standard assembly or material handling roles which machines take on.”
That equates to fewer employees than you’d see in an Asian factory, by far, but it still makes for some decent salaries for American citizens. Although those jobs may not be worth the huge cost of moving an entire operation to a more expensive facility just to keep the guy from The Apprentice happy.
Rose, either way, is against the idea. “I believe in free trade. We should not try to strong arm companies into coming back to the USA–we should instead focus on building a skilled workforce, making it easy to do business in the USA and streamlining the process of moving production home.”
GoPro might be the current market leaders in the action camera market, but their higher pricing and lack of included accessories can make their range cost prohibitive to some fans of the outdoors leading them to search for alternate models.
Chinese companies have been quick to oblige with Xiaomi, SJCAM and now Blackview offering action cameras, with similar GoPro designs and even a certain level of compatibility with existing GoPro accessories.
I received the Blackview Hero 1 recently which is one of 2 cameras offered by the smartphone come camera maker. The Hero 1 differs from the Hero 2 in that it offers WIFI support for control with a application on your phone, the Hero 2 comes with a dedicated wrist mounted remote.Blackview Hero 1 Specifications
Costing just $129.99, the Blackview Hero 1 is seriously cheaper than even the most basic GoPro, yet it offers a high level of features and comes with a monstrous amount of accessories and different mounting components. In fact if you were to price up the included accessories based on official GoPro alternatives you would be looking at over $100 of included parts with the camera! That’s value for money.
As for the camera itself well the features continue to impress. First up the rear of the camera is actually a built in LCD display. It isn’t the brightest and you will need to shade it with your hand to see in very bright sunlight, but just for ensuring your camera is pointing in the right direction it is more than enough. The screen is also used show and indicate various settings of the camera e.g the resolution, turning on WIFI etc.
An AMB A7LS75 chipset runs the simple menu system, and offers support for AV Out, HDMI Out, WIFI and there is space for a 64GB SD card.Blackview Hero 1 Design
The design of the Hero 1 is similar, but not the same, as a SJCAM 4000. It is also similar to a GoPro in that it is a compact (5.9 x 4.1 x 2.9 cm) sports camera, but with more physical buttons and a built in display, the Blackview Hero 1 won’t fit in a GoPro case so it is just as well a waterproof housing comes in the box.Gizchina News of the week
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Like GoPr0, Blackview supply the waterproof case with an optional door with gaps in. These gaps mean that the sound quality will be better, but mean the camera cannot be used in wet or underwater conditions. Just remember it is the case that is waterproof and not the camera.
Our version of the Hero 1 has a textured main body (good for holding with gloves) with a white face. The front of the camera is where that 170 degree lens is, and a power button. At the top there is an ‘ok’ button for selecting functions and for starting the record features, plus notification LED. The left side has USB, micro SD card and HDMI out, while the right has up and down buttons.
The base is where the 1050mAh battery lives and the rear where the 2-inch, 240x 960 display and more notification LED’s are located.Blackview Hero 1 System
If there is one complaint it has to be the system that runs on the Hero 1. If you are use to the simply controls of a GoPro the over complex menu system of the Blackview is going to irritate you. It’s not a simple system to pick up, and it appears that there is no option to switch from Video to stills without using the Android application to control the camera over wifi.
In fact I wouldn’t even bother trying to navigate the Blackview Hero 1 on it’s 2 inch display using the physical buttons. Instead just download the APK and do it all off your phone, it is much easier. The downside to this though is the WIFI and rear display really eat in to battery life and you WILL need a spare if you intend on spending the day at the local bike park.Blackview Hero 1 First Impressions
The Hero 1 is a good value camera with impressive 16 mega-pixel camera and a huge number of accessories. It is certainly worth looking at if you only intend to use the camera casually. Loose buttons, in the body, the power sapping screen and irritating menu system are what really spoil the camera for us and stop it from being a true GoPro alternative though, so if you are planning to take part in the next RedBull Rampage you will probably want to stick with the GoPro.
A full review is in the works with video samples so please look out for this in the coming days.
[ Blackview ]
blog / General State of Executive Education 2023
By Rakhee Ghelani
As 2023 has proven, in uncertain times, the importance of leadership comes to the fore—good business leaders exceed their potential and new ones stand up to be counted. With a decade in the industry, at Eruditus, we understand how critical executive education is in helping businesses navigate unprecedented challenges and forging new paths.
Over the past ten years, we have collaborated with some of the most prestigious universities in the world, making their expertise accessible to executives across the globe. One of our flagship programs, the INSEAD Leadership Program for Senior Executives—India (ILPSE) will welcome its tenth cohort this year, and we are proud that 1,300+ senior leaders from 60+ countries have completed both general management and specialist courses from our partners such as Cambridge Judge Business School, Columbia Business School, Harvard Business School and Kellogg School of Management to name a few.
To understand the transformation that world-class leadership programs have had on graduates, we reached out to alumni to hear first-hand about the impact that their chosen executive programs have had on their professional development.
In our inaugural edition of the State of Executive Education report, 129 senior executives from 20 countries—with an average work experience of 18 years—shared their learning experience and ideas with us. We’re delighted to share the findings with you as we continue to build the future of executive education:
1. Executive education can transform businesses
Three in four participants who completed a leadership program could see the positive impact it had on their business or organisation. The depth and breadth of knowledge gained by executives gives them the ability to view their business from a better perspective, helps to shape their thinking and gives them tools that they can take back into the workplace. As the programs bring together a broad range of disciplines, they show participants a variety of cutting-edge leadership techniques that they can use to scale-up any business. Combined, this has the potential to translate into tangible outcomes including revenue growth, increased employee and customer satisfaction, market share, and customer retention.
2. Investing in lifelong learning is impactful
It isn’t just businesses that receive a return on the investment in executive programs. More than seven out of ten participants agreed that the program they pursued was worth the investment and were satisfied with the impact the program had on both their career and professional development. Eight in ten saw a positive impact on themselves personally that ranged from a boost in confidence to an increased passion for their work and greater career opportunities. For many, this passion has extended beyond work, with participants saying the transformational value of the course content has inspired them to do more with their life.
With lifelong learning, new habits are also instilled. For some this means thinking more broadly, improving listening skills and increasing time spent on introspection. While for others, it has opened them up to different perspectives when analysing problems and dealing with individuals and has enabled them to become better decision-makers.
“The association with Brand Columbia Business itself was the biggest change in my life. I felt elevated the day I set my foot in CBS and my self gratification was enhanced to the highest level. My self-esteem and self-confidence were boosted to a level that it helped me win the top job as Chairman, leading the entire Power Industry in my country.” – Columbia Executive Program in Management, Oct 2023 Cohort
3. In-class learning is valued
While online learning is gaining momentum and 95% of survey respondents expect online learning adoption to increase in the near future, 98% of those surveyed believe that on-campus modules had a positive impact on their learning. Smart course design gave them the ability to network with their peers and collaborate together, with the majority agreeing that this positively impacted their learning.
The intensity of in-class learning helped some overcome psychological barriers and has given them the confidence to face new challenges in their daily work. While others have been inspired by the fresh knowledge and real time exposure to new people and global campuses. These in-class learning experiences complement online coursework, live webinars, and are here to stay.
“The Berkeley campus was a great learning experience—including insightful interactions with great teachers, interesting peers and outstanding visits to some ‘hot’ companies (Facebook, Netflix, AirBnB, etc.).” – Berkeley Program on Data Science & Analytics, Nov 2023 Cohort
4. Online learning is gaining momentum
Given recent developments, 95% of survey respondents expect online learning adoption to increase in the near future. With areas such as Artificial Intelligence, Machine Learning and Blockchain growing in prominence across industries, senior executives who participated in the survey expressed a keen interest in understanding how these technologies could impact their businesses.
Other topics of interest that executives are keen to learn about right now are how to lead through uncertainty and motivate remote teams.
“The quality of the faculty, the Columbia University content and campus, and the approach of online + offline were absolutely fantastic.” – Columbia Digital Business Leadership Program, Apr 2023 Cohort
5. Interaction with faculty and industry members enhances learning
On-campus learning gives participants access to faculty members who are well-renowned experts and thought leaders in their respective fields. For 92% of those surveyed, these interactions positively impacted their learning experience by sparking new ideas and encouraging different streams of thought that were both personally and professionally rewarding. Some participants have maintained these connections and have been able to call on the assistance of lecturers and other faculty members when dealing with challenging times in their business.
In many programs, these interactions are further enhanced through immersive industry visits that span continents and industries. In addition, insights and best practices from global companies are shared giving participants the ability to learn directly from leading organisations.
“The most valuable aspect was the assistance rendered by lecturers beyond the classroom on changing the business models of my industry — I am glad I had Dr. Kishore Sengupta to assist me as the actions taken then became very relevant during COVID-19. This programme is never to be underestimated as it will power your career and bring you to greater heights in your personal and work life. Of course, you need to put in your fair share of effort as well.” – Cambridge Senior Management Programme, Dec 2023 Cohort
6. The knowledge acquired is relevant long after graduation
Good leadership programs are designed to add value beyond program completion. Our research shows that our university partners’ programs succeeded in achieving this with nine out of ten respondents saying they are applying the content often since graduation. Many refer back to the content and access webinars to refresh their knowledge while others also share it with their work colleagues or use it when working through their business challenges.
“The focus on digital transformation in legacy companies was quite a unique angle and gave me confidence that legacy companies (which are the majority of corporations today) can make this happen.” – Columbia Digital Business Leadership Program, Apr 2023 Cohort
7. The connections made through executive programs are priceless
Networking is a critical element to success in business. By bringing together global business leaders from diverse backgrounds, executive education programs open up participants to new perspectives and opportunities. This was valued by nine in ten respondents who felt that interacting with their peers was an important element of the learning experience. The diversity of alumni—both in industries and geographies—exposed participants to multiple dimensions when looking at business challenges and potential solutions. As many alumni are experts in their own field, they are also able to offer their peers a depth of understanding across various fields.
“Meeting other cohorts, understanding my peers, networking and building friendly relationships. All these gave me perspective and an understanding of professional careers of my peers that helped me assess my own situation better.” – INSEAD Leadership Programme for Senior Executives—India, Aug 2013 Cohort
8. Executive Education has strong network effects
Executive programs aren’t just about a certificate; their benefits lie in how it can change your perspective and open up peer networks. The learning and transformational value is tangible, which is why more than three-quarters of alumni recommend such programs to four people on average for their own professional development.
“The program has changed my perspective to entrepreneurship and storytelling. I learned how people have successfully built ideas into commercial successes, and about failures and human behaviour. These are new for me and it has given me confidence which is why I recommend this program. It’s about investing in yourself to be equipped for any situation.” – MIT Executive Program in General Management, Dec 2024 Cohort
Beyond the statistics
We live in unprecedented times but one thing is certain – executive learning programs are more relevant now than they have ever been. The ability to think differently and navigate unknown territory is critical to success for all businesses and leaders now.
We asked survey respondents about the key upskilling needs for their organisations and they said digital transformation and innovation, leadership and management, data science and artificial intelligence, fintech and analytics were key priorities.
Commenting on the future of executive learning, Rafat Malik, Senior Advisor to Group CEO, Founder and Former Dean, Saudi Telecom Company (STC) Academy opined: “COVID-19 has accelerated the need to break old ideas around learning and embrace new possibilities. Essentially learning is going to be a mix of virtual and face-to-face learning, as the latter is hugely important to develop trust. We will use virtual technologies to access insights from outside the region, which we can’t get locally. I think this is going to be part of a new learning mix that will evolve over time. A move away from ‘token learning’ to tangible, practical learning will ensure that learning is recognised as an important part of everyone’s role, be it upper echelons of the company or specialist learning that could be extended to all employees.”
This research highlights that executive education has strong individual and organisational benefits that outlast the duration of the programs. The only constant now is change, and with that comes the need for leaders to find new ways to future-proof themselves and identify opportunities for personal and business growth. This sentiment is echoed in a separate global learning survey our team conducted recently—with 1,560 respondents across 13 countries—where 77% of those surveyed claimed they are interested in pursuing further education in the next 6 months.
Responding to the Executive Education survey’s insights, Lisa Rohrer, Directory of University Partnerships at Eruditus, said “Despite the damper Covid has put on classroom programs recently, this research demonstrates that participants greatly value the experience and networking that comes from an immersive executive program. These programs have the potential to transform the lives of senior professionals around the world, opening up new insights, connections and opportunities. We are proud to partner with leading universities around the world and will continue to deliver on our mission of making high quality education accessible and affordable.”
Apple and more than a dozen other titans of technology have written to European Union officials, expressing concern that a unified patent court system could encourage patent trolls to expand their lawsuits overseas.
Apple and more than a dozen other titans of technology have written to European Union officials, expressing concern that a unified patent court system could encourage patent trolls to expand their lawsuits overseas.
New rules now being developed could create “significant opportunities for abuse” allowing patent owners to “extract substantial royalties,” according to the letter obtained by the New York Times.
Starting in 2024 trolls could take infringement cases to non-member countries or nations without much experience, creating a European version of the Eastern District of Texas. Courts in that U.S. district are notorious for rulings favorable to companies suing tech firms, according to the letter…
After looking at the EU’s plans “companies now fear that the new system could be vulnerable to what they call patent assertion entities, less politely known as patent trolls, which make a business of filing patent-infringement lawsuits,” reports the New York Times.
The EU’s proposal would create a unified patent court, replacing the current patchwork quilt of countries all with differing levels of experience handling patent-infringement claims.
Along with Apple (the favorite target of patent trolls), Google, Samsung, BlackBerry, Hewlett-Packard, Microsoft, Intel, Yahoo and Cisco signed the letter of concern sent Thursday. European firms such as Deutsche Telekom and Telecom Italia also signed, according to the report.
Ironies abound on both sides.
Google, which signed the letter warning of European patent abuse, recently found its Motorola Mobility the first convicted patent troll. The Times also notes than many of the people helping the EU draft the unified patent court “work for law practices or lobbying firms” which count as clients the signatories of today’s letter.
Spain and Poland are also raising objections, while Italy has some reservations about the proposal.
Spain is suing the EU over the plan, saying the Spanish language is not among those within the court system. Poland believes the proposal could hurt its economy, while Italy is unsure about so-called pan-European patents. At least 13 of the 25 EU member states must approve the court proposal for it to go into effect.
Chief among the worries by U.S. companies is that patent trolls could shop for a European country either with little experience handling patent issues or a nation that has not signed onto the unified court plan.
Another problem is the new system would split the question of whether infringement occurred from consideration of if the patent is even valid. While the procedure is common in German courts, the division on questions opens up “significant opportunities for abuse,” the letter writers explain.
In 2012 signatory Microsoft moved operations from Germany to the Netherlands due to what it said was a patent lawsuit filed by Motorola Mobility in Germany. Germany’s Deutsche Telekom was forced to pay a patent-infringement settlement to IPNav, which owns more than 1,000 patents, according to the Times.
Over the last half-decade, IPNav has sued over 1,600 U.S.-based companies, a record. Defendants have included Google, Adobe and Hitachi.
IPNav has written that the proposed change in how Europe handles patent challenges is “a great benefit to innovators” and the new setup “is going to cut the cost of litigation down significantly.”
The proposed change in Europe comes as patent trolls become a front-burner topic in the U.S. The FTC has launched an investigation into patent-infringement claims as the Obama administration orders agencies such as the U.S. Patent and Trademark Office take a closer look at patent applications and their owners.
Reversibility of transactions on Ethereum will guarantee a refund of transactions made during a Crypto Theft
Imagine that one day you unwittingly fall for a cryptocurrency phishing scam and the con artist manages to take 10 ether (ETH) from you. There isn’t much you can do because cryptocurrency transactions are final, right? Well, not quite yet.
Adding reversible transactions to Ethereum has recently been suggested by a group of Stanford researchers as a way to guarantee that stolen cryptocurrency is returned to its rightful owner. If a standard like this were to be implemented, the disappointed thief would be left out of pocket while your 10 ETH would theoretically ricochet back into your wallet. Reversibility would likely be a well-liked feature, particularly with the risk-averse people who have so far refrained from adopting Ethereum. Costs must also be taken into account, though. Any time a component of a payment system is changed to address a specific issue, additional issues are subsequently created elsewhere on the network. No such thing as a free fix exists. Let’s examine these charges in more detail.
Reversibility would likely be a well-liked feature, particularly with the risk-averse people who have so far refrained from adopting Ethereum. Costs must also be taken into account, though. Any time a component of a payment system is changed to address a specific issue, additional issues are subsequently created elsewhere on the network. No such thing as a free fix exists. Let’s examine these charges in more detail.
Everything from large-scale attacks to modest retail phishing schemes uses cryptocurrency theft. Kaili Wang and associates have proposed creating an Ethereum token standard that permits transactions to be momentarily reversed to make the crypto economy more secure. A victim of theft could appeal to a decentralized arbitrator during that period, let’s say four days, to get their stolen cryptocurrency restored. The inventor of the Bitcoin blockchain, Satoshi Nakamoto, would be horrified. After all, the white paper by Nakamoto may be interpreted as a tirade against reversible transactions. Nakamoto claimed that because financial institutions “cannot avoid mediating conflicts,” businesses “must be suspicious of their clients, harassing them for more information than they would otherwise require.”
Ethereum is not meant to be entirely reversible, according to Stanford academics. Reversible tokens are not for everyone, thus they can still only interact with non-reversible tokens. Reversible tokens may be the extra barrier that entices people who are put off by the high level of expertise needed to utilize Ethereum responsibly. The trade-offs of payment systems are extremely complicated. To solve one problem, another must be created. This can be best understood in terms of the following too-small-blanket conundrum. Consider the scenario where you want to sleep but your blanket doesn’t reach your toes. Your neck is exposed after you pull it down. Your shoulders are now exposed as you turn the blanket so that it covers both your toes and your neck. There is no ideal solution. You must carefully consider which parts of your body to cover and which to leave bare. Payments follow the same rules. Reversibility may lessen theft, but it may also expose the network to new issues, namely fraud reversal, according to the too-small-blanket paradox. Credit card processing systems provide you with a decent sense of what to anticipate.
Reversibility would affect fungibility if it were added to Ethereum. Assets are fully interchangeable when a thing is fungible. A payment system should be fungible. The dollar payment system is simpler to operate if all dollars are convertible.
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