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North Sharqiyah sets up development awardsShare Tweet Share Share Email In an age where technology continues to redefine the boundaries of possibility, finance stands at the forefront of this revolution. Imagine a world where transactions are not only instantaneous but also transparent, secure, and devoid of intermediaries holding you back. Welcome to the era of smart contract platforms—a game-changing innovation that promises to streamline processes, enhance security, and unlock new levels of efficiency in financial transactions. In this blog post, we’ll delve into how these futuristic technologies are transforming traditional finance landscapes and empowering businesses and individuals alike. Join us as we explore the myriad benefits of harnessing smart contracts in today’s digital marketplace—because when it comes to revolutionizing finance, the future is now! Introduction: Defining Smart Contract Platforms and Their Role in Finance In today’s rapidly evolving financial landscape, traditional systems are being challenged and transformed at an unprecedented pace. Enter smart contract platforms: digital agreements that automatically execute transactions when predetermined conditions are met. These innovative tools are revolutionizing the way we think about finance, offering a glimpse into a more efficient and transparent future. Imagine a world where complex financial processes can be simplified through automation, reducing the need for intermediaries while enhancing security and trust. This is not just a distant dream; it’s happening right now as businesses and consumers alike begin to harness the power of smart contracts. As we delve deeper into this exciting topic, you’ll discover how these platforms are reshaping the industry, creating new opportunities for growth and innovation while addressing age-old challenges in finance. Get ready to explore the incredible potential of smart contract platforms! The Potential Impact of Smart Contracts on the Financial Industry Smart contracts have the potential to revolutionize how transactions occur in finance. They eliminate the need for intermediaries, reducing costs and speeding up processes. This shift could lead to more efficient trading systems and streamlined settlements. With their inherent transparency, smart contracts can enhance trust among parties involved. Each transaction is recorded on a blockchain, creating an immutable history that stakeholders can verify independently. Moreover, automation reduces human error significantly. Routine tasks like compliance checks and payment processing can be handled seamlessly without manual intervention. Decentralized finance (DeFi) platforms stand at the forefront of this transformation, allowing users unprecedented access to financial services without traditional bank constraints. Lastly, as regulatory frameworks adapt to accommodate these technologies, we could witness broader adoption across various sectors within finance. How Smart Contract Platforms Work: Understanding Automation and Transparency Smart contract platforms operate on blockchain technology, enabling self-executing contracts with the terms directly written into code. This automation eliminates the need for intermediaries, reducing costs and processing times. When a predefined condition is met, the smart contract automatically triggers actions such as payments or data transfers. This level of automation ensures efficiency and minimizes human error. Transparency is another cornerstone of these platforms. All transactions are recorded on a public ledger, accessible to all parties involved. This visibility fosters trust among users since they can independently verify contract execution without relying on third-party validation. Moreover, once deployed, smart contracts cannot be altered easily. This immutability enhances security and accountability in financial dealings. The combination of automation and transparency creates an ecosystem where trust is built through technology rather than personal relationships alone. Real-Life Examples of Smart Contracts in Finance: Use Cases and Success Stories Smart contracts have made significant inroads into the financial sector, showcasing their potential through various applications. One prominent example is the use of smart contracts in trade finance. Companies can automate letter-of-credit processes, ensuring that funds are released only when preset conditions are met. This reduces fraud and speeds up transactions. Another exciting case involves insurance claims processing. Smart contracts can automatically trigger payouts based on verified data feeds, like weather reports for crop insurance. This efficiency not only enhances customer satisfaction but also minimizes operational costs. In real estate, platforms are utilizing smart contracts to streamline property sales. Buyers and sellers engage directly without intermediaries, cutting down on fees while speeding up closing times. These scenarios illustrate just a few ways smart contract platforms are reshaping finance by enabling greater transparency and automation throughout various industries. The Benefits of Adopting Smart Contract Platforms for Businesses and Consumers Smart contract platforms offer a wave of benefits for both businesses and consumers. At their core, they enhance efficiency by automating processes. This reduces the need for intermediaries, cutting down costs and speeding up transactions. Transparency is another crucial advantage. Each transaction recorded on a blockchain is visible to all parties involved, fostering trust. Businesses can confidently engage with clients knowing that terms are immutable and accessible. Additionally, these platforms improve security significantly. Smart contracts use cryptographic techniques to protect sensitive information against tampering or fraud. For consumers, the user experience often improves as well. They enjoy quicker service delivery without unnecessary delays typically caused by manual checks or approvals. Moreover, smart contracts enable innovative business models such as decentralized finance (DeFi). This opens new avenues for investment opportunities and financial services tailored specifically to individual needs. Potential Challenges and Risks to Consider When Implementing Smart Contract Platforms While the advantages of smart contract platforms are compelling, there are challenges to address. One significant concern is security. Vulnerabilities in code can lead to exploitation and substantial financial losses. Another risk involves regulatory uncertainty. Governments worldwide are still figuring out how to classify and regulate these technologies. This lack of clarity can create hurdles for businesses looking to adopt them. Additionally, integration with existing systems poses a challenge. Organizations may face compatibility issues when merging traditional processes with blockchain technology. Finally, there’s the human factor. Misunderstanding smart contracts’ complexities can result in mistakes during deployment or execution, undermining potential benefits. Addressing these risks requires careful planning and a thorough understanding of both technology and legal frameworks involved in this evolving landscape. Leading Platforms in the Market: A Comparison and Analysis When exploring smart contract platforms, several key players stand out in the financial landscape. Ethereum is often regarded as a pioneer, offering robust functionality and a vast developer community. Its flexibility allows for complex contracts but can lead to scalability issues. Then there’s Binance Smart Chain (BSC), which gained traction due to its lower transaction fees and faster processing times. BSC blends ease of use with efficient performance, attracting both developers and businesses looking for cost-effective solutions. Cardano offers a more research-driven approach, focusing on sustainability and security through rigorous peer-reviewed protocols. This differentiates it from other platforms that prioritize speed over reliability. Solana has emerged as an exciting contender with lightning-fast transactions and high throughput capabilities. It caters primarily to applications requiring rapid data transfer without compromising security. Each platform presents unique advantages tailored for different business needs within finance, making careful evaluation essential before adoption. Steps to Incorporating Smart Contracts into Business Processes Incorporating smart contracts into business processes begins with identifying areas where automation can add value. Evaluate your current workflows and pinpoint repetitive tasks that could benefit from increased efficiency. Next, engage stakeholders to ensure everyone understands the potential of smart contracts. This awareness fosters collaboration and support throughout the implementation process. Choose a suitable platform that aligns with your organization’s needs. Research various options, considering factors like scalability, security, and user-friendliness. Then, start small by creating pilot projects. Test these smart contracts in controlled environments to assess their functionality before full-scale deployment. Training is vital for success; equip your team with the knowledge needed to manage these new systems effectively. Continuous evaluation will help you refine processes over time and adapt as technology evolves. By taking measured steps towards integration, businesses can fully harness the power of smart contract platforms for enhanced productivity and transparency. Future Outlook: Predictions for the Evolution of Smart Contract Platforms in Finance The landscape of finance is poised for transformation as smart contract platforms continue to evolve. As adoption increases, we can expect enhanced interoperability among different blockchain networks. This will allow seamless transactions and data sharing across platforms. Artificial intelligence integration could lead to even smarter contracts that adapt in real-time based on external conditions. Imagine a financial agreement automatically adjusting terms according to market fluctuations or regulatory changes. User experience will improve dramatically. Simplified interfaces and user-friendly applications may make it easier for businesses and consumers alike to engage with these technologies. Regulatory frameworks are also likely to catch up, providing clearer guidelines around the use of smart contracts. This clarity could boost confidence among enterprises considering implementation. As we look ahead, it’s evident that the synergy between technology and finance will create unprecedented opportunities for innovation and efficiency in the industry. Embracing the Digital Transformation of Finance Through Smart Contracts The finance industry stands at the cusp of a digital revolution, driven by the innovative capabilities of smart contract platforms. These technologies are not just reshaping traditional processes; they are establishing a new paradigm characterized by enhanced automation and transparency. As businesses and consumers increasingly adopt these platforms, they unlock numerous benefits. From reducing costs associated with intermediaries to improving transaction speed and security, the advantages are compelling. Moreover, real-life success stories demonstrate their potential across various financial services. However, as with any technological advancement, it’s crucial to consider potential challenges and risks. Issues related to regulatory compliance or system vulnerabilities must be navigated carefully for successful implementation. With several leading platforms entering the market, companies have access to powerful tools designed to facilitate this transition seamlessly. By integrating smart contracts into business processes, organizations position themselves favorably in an evolving landscape. Looking ahead, predictions suggest that smart contract technology will continue its upward trajectory within finance—enhancing everything from everyday transactions to complex financial instruments. The path forward is clear: embracing this digital transformation can lead not only to greater efficiency but also create new opportunities for innovation in finance. The journey toward fully leveraging smart contract platforms is just beginning but promises exciting possibilities that could redefine how we think about money and trust in our economic systems. Conclusion Smart contract platforms have the potential to revolutionize the finance industry with their numerous benefits. From increased security and transparency to faster and more efficient transactions, these platforms offer a plethora of advantages for individuals and businesses alike. As technology continues to advance, it is crucial for companies to consider adopting smart contract platforms in order to remain competitive in the ever-evolving financial landscape. With its potential to disrupt traditional financial systems, embracing this innovative technology could lead to a more streamlined and secure future for all parties involved Related Items: automation , finance , Smart contract Share Tweet Share Share Email Recommended for you Maximize Your Budget: Top Trends in Digital Expense Management Solutions Navigating Trump’s Second Term: Why a Skilled Financial Planner Is Essential Islamic FinTech: Adapting Financial Technology to Sharia Compliance Comments
In a recent post on the social media platform X, CryptoQuant CEO Ki Young Ju raised doubts about the potential for the U.S. to adopt a national Bitcoin reserve during Donald Trump’s incoming presidential term. Young Ju expressed support for the idea of a Bitcoin standard, yet questioned whether the U.S. would embrace Bitcoin as a strategic asset without a significant threat to its global economic dominance. Despite Trump’s campaign promise to establish a national Bitcoin reserve — a pledge that has intrigued cryptocurrency supporters and analysts alike — Young Ju remains skeptical about its implementation. Following Trump’s election, Bitcoin saw unprecedented price increases, reaching an all-time high of over $108,300. However, even prior to Trump’s apparent pivot towards Bitcoin, the U.S. had already been leading in Bitcoin mining, accounting for approximately 37.8% of the world’s hash rate as of 2022. The U.S. dollar continues to exert significant international influence, accounting for 58% of all trade and 59% of currency reserves worldwide. Young Ju posits that the U.S. would only consider a strategic Bitcoin reserve if it felt its global supremacy was endangered. Historically, the U.S. has responded to perceived threats to its economic dominance with increased interest in alternative financial standards, much like previous debates regarding the gold standard. Economic and geopolitical developments have prompted more Koreans to favor U.S. dollars over gold and Bitcoin as safe-haven assets, reflecting broader global sentiments towards the dollar’s stability. This raises questions about the evolution of U.S. economic policies under Trump’s leadership. Trump, historically a critic of cryptocurrency, has shifted his public stance, particularly during the 2024 campaign. His previous comments criticized Bitcoin and other cryptocurrencies, labeling them as unstable and unregulated assets conducive to illicit activities. Young Ju suggests that Trump’s embrace of Bitcoin could be politically motivated. He notes the uncertainty surrounding how firmly Trump would hold to his pro-Bitcoin campaign rhetoric if he successfully bolstered U.S. economic resilience and the dollar’s dominance. Young Ju questions whether Trump’s mention of Bitcoin at the BTC Conference signifies a genuine step towards a Bitcoin standard or a calculated move to secure electoral support. The broader cryptocurrency community remains watchful as geopolitical shifts and economic uncertainties continue to shape market dynamics and policymakers’ approaches to digital assets.
TAMPA, Fla. (AP) — Jake Evans scored for the career-high fifth consecutive game and the surging Montreal Canadiens beat the Tampa Bay Lightning 5-2 on Sunday night. Christian Dvorak, Joel Armia, Brendan Gallagher and Alex Newhook also scored to help the Canadiens win for the fifth time in six games. Sam Montembeault made 21 saves. Nikita Kucherov and Brandon Hagel scored for Tampa Bay. Jonas Johansson stopped 31 shots. Newhook opened the scoring on a one-timer midway through the first period. Hagel tied it 37 seconds into the second period, but Dvorak and Evans scored 5:54 apart in the period for a two-goal Montreal lead they would not relinquish. SABRES 4, BLUES 2 ST. LOUIS (AP) — Jason Zucker scored a tiebreaking power-play goal with 9:30 remaining and Buffalo notched their third straight victory by beating St. Louis. Jiri Kulich extended Buffalo’s lead with a breakaway goal that went between Blues goalie Jordan Binnington’s legs with 3:41 to play. Tage Thompson had a goal and an assist against his former team as the Sabres won in St. Louis for just the second time in 12 years to sweep the season series. Zucker had a goal and an assist, and Jack Quinn had two assists for Buffalo. Ukko-Pekka Luukkonen stopped 35 shots. Brayden Schenn and Nathan Walker scored for the Blues. Binnington had 12 saves. Buffalo scored on two of its first three shots, including its first of the game. DUCKS 5, OILERS 3 ANAHEIM, Calif. (AP) — Ryan Strome scored with 2:36 remaining as Anaheim rallied from a two-goal deficit in the second period to defeat Edmonton. Strome’s goal, his sixth of the season, originally wasn’t called, but it was reversed after a review. Strome’s shot was entirely over the goal line before Edmonton goalie Calvin Pickard could stop it with his skate. Mason McTavish added an empty-net goal. It is the first time since March 30, 2019, the Ducks have defeated the Oilers by more than one goal. Cutter Gauthier, McTavish and Robby Fabbri each had a goal and an assist. Drew Helleson also scored for Anaheim, which snapped a seven-game losing streak to Edmonton. Lukas Dostal made 20 saves. Leon Draisaitl had two goals and Connor McDavid two assists for the Oilers, who were 3-0-1 in their past four. Evan Bouchard also tallied a goal and Pickard stopped 27 shots. RED WINGS 4, CAPITALS 2 DETROIT (AP) — Patrick Kane reached the 1,300-point mark and Todd McLellan won for the first time as Detroit’s coach in their victory over Washington. Kane, who needed two points to reach that mark, had a power-play goal and assist during Detroit’s four-goal first period. Alex DeBrincat scored two goals and Lucas Raymond added another as the Red Wings snapped a four-game losing streak. Alex Lyon made 26 saves. McLellan replaced Derek Lalonde prior to Friday’s loss to Toronto . Alex Ovechkin scored for the second consecutive game after missing the previous 16 due to a fractured fibula . The Capitals star forward is 25 goals shy of passing Wayne Gretzky’s NHL record of 894 . Nic Dowd had the other Capitals goal. Charlie Lindgren made 23 saves but Washington remained one point behind first-place New Jersey in the Eastern Conference. PENGUINS 3, ISLANDERS 2 PITTSBURGH (AP) — Sidney Crosby broke Mario Lemieux’s Pittsburgh franchise career record for assists on Michael Bunting’s power-play goal and the Penguins beat New York. Crosby has 1,034 assists, good for 12th in NHL history. Only three players — Ray Bourque, Wayne Gretzky and Steve Yzerman — have more assists with a single team. The 37-year-old Crosby has played 1,310-regular-season games. Lemieux played 915. Evgeni Malkin added the deciding power-play goal in the third for Pittsburgh, which has 14 goals with the man advantage in its last 13 games. Anthony Beauvillier also scored to help the Penguins win for the seventh time in their last eight home games. Alex Nedeljkovic made 29 saves in his first start since Dec. 17. Kris Letang missed the game because of a lower-body injury, and defenseman Nathan Clurman made his NHL debut. Anders Lee and Bo Horvat scored third-period goals for the Islanders, who fell behind 3-0 before their rally fell short. Marcus Hogberg stopped 38 shots during his first start since April 28, 2021. GOLDEN KNIGHTS 3, FLAMES 0 LAS VEGAS (AP) — Brett Howden scored his 15th goal of the season and Ilya Samsonov stopped 31 shots as Vegas Golden defeated Calgary. Howden redirected defenseman Alex Pietrangelo’s shot from the top of the slot late in the second period and is now tied with Ivan Barbashev for the team lead in goals. Howden has scored a goal in four of the last five games. Victor Olofsson and Tanner Pearson also scored for the Golden Knights, who have shut out Calgary twice this season, beating them 5-0 on Oct. 28 . Dan Vladar made 34 saves for Calgary. The Golden Knights have now won six straight, the longest active win streak in the NHL, while improving to 25-8-3 on the year. They own a 13-2-1 record against Pacific Division opponents. SENATORS 3, WILD 1 ST. PAUL, Minn. (AP) — Josh Norris broke a tie on a power play with 7:18 left, Leevi Merilainen made 30 saves in his fifth NHL game and Ottawa beat Minnesota. Ottawa has won seven of its past nine games, while the Wild have lost five of their past seven. The Senators won in Minnesota for the first time since 2016. With starter Linus Ullmark and backup Anton Forsberg out with injuries, the Senators have been relying on Merilainen and Mads Sogaard since before the NHL holiday break. Frederick Gaudreau opened the scoring for Minnesota late in the first period. Ridly Greig tied it early in the second. Claude Giroux added an empty-netter. STARS 5, BLACKHAWKS 1 CHICAGO (AP) — Matt Duchene and Jamie Benn each had a goal and two assists, and Dallas beat Chicago. Jason Robertson, Evgenii Dadonov and Wyatt Johnston each had a goal and an assist for Dallas, which had lost three of four. Jake Oettinger made 24 saves. Chicago dropped its fourth consecutive game. It lost three of four in its season series against Dallas. Connor Bedard scored his 10th goal for the Blackhawks, and Arvid Soderblom made 30 stops. Next up for Bedard and company is the Winter Classic on Tuesday against St. Louis. Dallas grabbed control after Chicago forward Tyler Bertuzzi was ejected 8:11 into the second period. Bertuzzi was sent off for elbowing Stars forward Colin Blackwell in the face. KINGS 5, FLYERS 4 LOS ANGELES (AP) — Anze Kopitar scored twice, Adrian Kempe had a goal and an assist, and Los Angeles got their seventh straight home win by beating Philadelphia. Kevin Fiala and Warren Foegele also scored for the Kings, who trailed 4-2 midway through the second period before rebounding to sweep a back-to-back after defeating recent playoff nemesis Edmonton in overtime on Saturday. David Rittich made 17 saves. Kopitar was in the right place to redirect Quinton Byfield’s rebound in and tie it at 4 early in the third, before following it up by chopping in Kempe’s shot during a power play at 8:55 for the 5-4 lead. Matvei Michkov had a goal and an assist for the Flyers after being benched for the third period against Anaheim on Saturday . Tyson Foerster, Scott Laughton and Joel Farabee also scored, and Aleksei Kolosov made 15 saves.
Nektar Therapeutics (NASDAQ:NKTR) Receives $3.50 Consensus PT from Brokerages
'Hostile' journalists barred from covering Zanu-PF meetings
'Kazakhstan leading FDI recipient'In recent years, Afghanistan has been not only a battleground for war and political conflicts but also a stage for silent disasters that, under the shadow of government neglect, societal indifference, and even the inaction of international organizations, have claimed heavy human tolls. These disasters, manifesting as traffic accidents, mine collapses, and silent killings, claim more victims every day. Yet, no matter how frequent or devastating these events may be, they fail to provoke collective outrage within Afghan society. It seems such deaths, just as insignificant to the ruling regime, hold little importance for the community as well. One of the most significant examples of this “silent tragedy” is traffic accidents, which have become an unending nightmare for the people of Afghanistan. In a recent incident in Ghazni province, two fatal collisions occurred within just an hour. These accidents left over 100 casualties. Initially, the Taliban reported 52 deaths, but later it was revealed that at least 12 injured individuals also succumbed to their injuries. Such incidents are preventable, but due to disregard for people’s lives, no one or organization takes any action. The causes of these tragedies are well known, and addressing them is not impossible. Substandard roads, lack of enforcement of traffic regulations, and inadequate rescue and emergency services have normalized these deaths as part of daily life. These problems, however, are not unique to the current Taliban regime; they persisted during the republican era without any serious efforts to address them. While the current Taliban regime claims complete control over the country, it has failed even to manage the most basic aspects of public safety and welfare. Amidst this, the irrational competition among passenger transport companies is a significant cause of traffic accidents. It is said that some of these companies reward drivers who reach their destinations ahead of schedule. Moreover, many drivers are reportedly under the influence of drugs, including cannabis, while driving. The author has personally witnessed this alarming situation. The competition among bus drivers for winning quick transport prizes, coupled with the fact that many of them drive under the influence of narcotics, has turned Afghanistan’s pothole-ridden roads into deadly paths. On the other hand, mine collapses represent another aspect of this silent tragedy. Afghanistan’s mines, often exploited illegally and without adherence to even the minimum safety standards, have become graveyards for workers risking their lives to provide for their families. The recent incident at a mine in Herat province, which resulted in one death, and the entrapment of 35 individuals in a mine in Samangan, are mere examples of the chronic neglect by governments and regimes regarding worker safety and rights. The lack of rescue equipment, weak oversight, and unrestrained exploitation of natural resources have made such incidents repetitive and seemingly inevitable. However, the dimensions of this tragedy do not end here. Alongside these incidents, killings carried out under the guise of “unknown individuals” constitute another facet of this humanitarian disaster. In many cases, these so-called unknown gunmen are none other than Taliban fighters who commit murders for various reasons. The victims of such killings include women, men, and even innocent children who are either targeted for political reasons or fall victim to local hostilities and abuses of power. Despite the constant flow of news about the murder of innocent people, there is no visible reaction from society, the Taliban regime, or even international monitoring organizations. This silence in the face of these killings provides implicit legitimacy to the Taliban and other perpetrators of violence, paving the way for the continuation of such atrocities. This negligence perpetuates the vicious cycle of these killings and tragedies, with no measures being taken to prevent them. Public Indifference And The Negligence Of Rulers In The Face Of These Dormant Tragedies not only endanger human lives but also highlight a profound crisis in social and political accountability in Afghanistan. Whether during the era of the republic or under the current Taliban rule, ineffective governance and a lack of commitment to human lives have normalized these preventable deaths. Such tragedies have become a routine part of daily life. Even large-scale incidents, such as the recent road accidents in Ghazni, fail to elicit public outrage and are accepted as ordinary events. These silent disasters will persist until governments, society, and international organizations take their responsibilities toward these tragedies seriously and replace their silence with sustainable and practical actions. A future where human lives are valued beyond political games and personal interests remains a distant vision on Afghanistan’s horizon. You can read the Persian version of this analysis here: فاجعه خفته؛ بیتفاوتی مرگبار در برابر حوادث و کشتارهای قابل پیشگیری در افغانستان | روزنامه ۸صبح
What to know about sudden rebel gains in Syria's 13-year war and why it mattersSinn Fein calls for end to Fine Gael and Fianna Fail ‘stranglehold’ on housing
President-elect Donald Trump has labeled himself as a master negotiator. As the wildly popular social media platform, TikTok, is set to be banned in the U.S. one day before he is back in the White House, the incoming commander-in-chief says he wants to have a chance to save it. “President Trump alone possesses the consummate deal-making expertise, the electoral mandate and the political will to negotiate a resolution to save the platform while addressing the national security concerns expressed by the government — concerns which President Trump himself has acknowledged,” according to a brief filed by Trump on Friday evening ahead of an upcoming Supreme Court hearing next month. Trump, and his allies, have long touted the president as a “deal maker” and said that will continue in his second round in the Oval Office, including negotiating an end to Israel’s war in Gaza and vowing tariffs against allies Mexico and Canada in an effort to curb immigration to the United States – a key campaign goal for the president-elect. Trump called on the Supreme Court to pause a law that could ban TikTok, arguing the president-elect’s negotiating skills will be able to find a solution that addresses national security concerns of TikTok’s Beijing-based parent company , ByteDance, as well as concerns that banning the app would limit free speech in the United States. “President Trump’s first Term was highlighted by a series of policy triumphs achieved through historic deals, and he has a great prospect of success in this latest national security and foreign policy endeavor,” the brief said without expanding on which policies. Earlier this year, Congress passed bipartisan legislation that was signed by President Joe Biden that requires TikTok’s Beijing-based parent company , ByteDance, to sell the app. The app would be banned from stores and web hosting companies in the U.S. if ByteDance doesn’t sell it. TikTok previously asked the Supreme Court to pause enforcement of that requirement while the company continues to make their case for why the law is unconstitutional. Earlier this month, the Supreme Court said they won't decide whether to keep the Jan. 19 deadline until after the justices debate the merits of the law during oral arguments scheduled for Jan. 10. Although Trump attempted to ban the app in his first term as president, the president made it a campaign promise in the 2024 presidential election to “save TikTok,” as his presidential campaign often used the app to appeal to young voters. Trump’s lawyers in the brief said Trump’s creation of his own social media site, Truth Social, and his use of TikTok, where he has 14.7 million followers, allows “him to evaluate TikTok’s importance as a unique medium for freedom of expression, including core political speech.” “President Trump is one of the most powerful, prolific and influential users of social media in history,” the brief said. Trump’s failed spending bill Although Trump is touting his negotiating skills, the president-elect is already facing hiccups with parts of his agenda – failing to keep his party united during a government funding debate. Trump earlier this month blew up an initial short-term spending deal. He failed to get Republican support for legislation he supported that would keep the U.S. government open through March while lifting the cap on the amount of debt the federal government can incur. The House went on to pass a bipartisan bill that received mostly Democratic support to avoid a government shutdown. Contributing: Maureen Groppe, Karissa Waddick, and Zac Anderson, USA TODAY
SOCIAL MEDIA How do you remove children from the harms of social media? Politically the answer appears simple in Australia, but practically the solution could be far more difficult. The Australian government's plan to ban children from social media platforms including X, TikTok, Facebook and Instagram until their 16th birthdays is politically popular. The leaders of all eight Australian states and mainland territories unanimously backed the plan, though Tasmania, the smallest state, would have preferred the threshold were set at 14. But vocal experts in the fields of technology and child welfare responded with alarm. More than 140 of them signed an open letter to Prime Minister Anthony Albanese condemning the 16-year age limit as "too blunt an instrument to address risks effectively." People are also reading... The Australian Parliament has now passed the ban, and the platforms have one year to work out how to implement it. Concerned teen Leo Puglisi, a 17-year-old Melbourne student who founded the online streaming service 6 News Australia at the age of 11, laments that lawmakers imposing the ban lack the youth's perspective on social media. "With respect to the government and prime minister, they didn't grow up in the social media age, they're not growing up in the social media age, and what a lot of people are failing to understand here is that, like it or not, social media is a part of people's daily lives," Puglisi said. "It's part of their communities, it's part of work, it's part of entertainment, it's where they watch content — young people aren't listening to the radio or reading newspapers or watching free-to-air TV — and so it can't be ignored. The reality is this ban, if implemented, is just kicking the can down the road for when a young person goes on social media," he added. Puglisi is applauded for his work online. He was a finalist in his home state Victoria's nomination for the Young Australian of the Year award, which will be announced in January. His nomination bid credits his platform with "fostering a new generation of informed, critical thinkers." Grieving mom-turned activist One of the proposal's supporters, cyber safety campaigner Sonya Ryan, knows how dangerous social media can be for children. Her 15-year-old daughter Carly was murdered in 2007 in South Australia state by a 50-year-old pedophile who pretended to be a teenager online. In a grim milestone of the digital age, Carly was the first person in Australia to be killed by an online predator. "Kids are being exposed to harmful pornography, they're being fed misinformation, there are body image issues, there's sextortion, online predators, bullying. There are so many different harms for them to try and manage and kids just don't have the skills or the life experience to be able to manage those well," Ryan said. "The result of that is we're losing our kids," she said. "Not only what happened to Carly, predatory behavior, but also we're seeing an alarming rise in suicide of young people." Ryan is part of a group advising the government on a national strategy to prevent and respond to child sexual abuse in Australia. She wholeheartedly supports Australia setting the social media age limit at 16. "We're not going to get this perfect," she said. "We have to make sure that there are mechanisms in place to deal with what we already have, which is an anxious generation and an addicted generation of children to social media." Skeptical internet expert Tama Leaver, professor of internet studies at Curtin University, fears the government will make the platforms hold the users' identification data instead. The government already said the onus will be on the platforms, rather than on children or their parents, to ensure everyone meets the age limit. "The worst possible outcome seems to be the one that the government may be inadvertently pushing towards, which would be that the social media platforms themselves would end up being the identity arbiter," Leaver said. "They would be the holder of identity documents which would be absolutely terrible because they have a fairly poor track record so far of holding on to personal data well," he added. The platforms will have a year once the legislation becomes law to work out how the ban can be implemented. Ryan, who divides her time between Adelaide in South Australia and Fort Worth, Texas, said privacy concerns should not stand in the way of removing children from social media. "What is the cost if we don't? If we don't put the safety of our children ahead of profit and privacy?" she asked. Be the first to know Get local news delivered to your inbox!Stanford Report: US Dominates Global AI Rankings
TOKYO (AP) — Troops surround South Korea's parliament overnight when the president declares martial law. He accuses pro-North Korean forces of plotting to overthrow one of the world’s most vibrant democracies. Lawmakers voice outrage and vote to end the declaration, and the president lifts the decree before daybreak. President Yoon Suk Yeol spread fear and confusion through South Korea overnight by issuing his sudden edict late Tuesday, the first martial law declaration since more than four decades ago when the country was controlled by a dictatorship. The declaration, the rushed vote by lawmakers to overturn it and the president's lifting of martial law soon afterward were moments of high drama for an unpopular leader who has struggled with political deadlock in an opposition-dominated parliament and scandals involving him and his wife. While there was no direct evidence presented, Yoon raised the specter of North Korea as a destabilizing force. Yoon has long maintained that a hard line against the North is the only way to stop Pyongyang from following through on its nuclear threats against Seoul. Amid the surreal scenes of troops massing around parliament, here are some things to know as this story unfolds: Immediately after Yoon's declaration the military chief called in key commanders for talks. South Korean troops set up barricades and then made their way into parliament. The leader of the main opposition, which controls parliament, ordered lawmakers to return to the building, where they eventually voted to lift the declaration of martial law. Yoon lifted the martial law decree around 4:30 a.m. during a Cabinet meeting. Yoon's declaration had been accompanied by an accusation that the opposition was engaged in “anti-state activities plotting rebellion.” But he did not explain what that means, and provided no specific evidence. The vague statement is reminiscent of the heavy-handed tactics of the South Korean dictatorships that ended in the late 1980s. A series of strongmen repeatedly invoked North Korea when struggling to control domestic dissidents and political opponents. The opposition lambasted Yoon's move as un-democratic. Opposition leader Lee Jae-myung, who narrowly lost to Yoon in the 2022 presidential election, called Yoon’s announcement “illegal and unconstitutional.” But the sudden declaration was also opposed by the leader of Yoon's own conservative party, Han Dong-hoon, who called the decision “wrong” and vowed to “stop it with the people.” “The people will block the president’s anti-constitutional step. The military must be on the side of the public in any case. Let’s resolutely oppose it,” Kim Dong Yeon, the opposition party governor of Gyeonggi province, which surrounds Seoul, wrote on X. Average South Koreans were in shock. Social media was flooded with messages expressing surprise and worry over Yoon’s announcement. “Martial law? I thought it was deepfake content, but is it really a martial law decree?,” one X user wrote. “I first thought about a war with North Korea when he said he would impose a martial law,” another X user wrote. There were quick claims that the emergency declaration was linked to Yoon’s political struggles. His approval rating has dropped, and he has had little success in getting his policies adopted by a parliament that has been controlled by the opposition since he took over in 2022. Conservatives have said the opposition moves are political revenge for investigations into the opposition leader, who is seen as the favorite for the next presidential election in 2027. Just this month, Yoon denied wrongdoing in an influence-peddling scandal involving him and his wife. The claims have battered his approval ratings and fueled attacks by his rivals. The scandal centers on claims that Yoon and first lady Kim Keon Hee exerted inappropriate influence on the conservative ruling People Power Party to pick a certain candidate to run for a parliamentary by-election in 2022 at the request of Myung Tae-kyun, an election broker and founder of a polling agency who conducted free opinion surveys for Yoon before he became president . Yoon has said he did nothing inappropriate. South Korea became a democracy only in the late 1980s, and military intervention in civilian affairs is still a touchy subject. During the dictatorships that emerged as the country rebuilt from the destruction of the 1950-53 Korean War, leaders occasionally proclaimed martial law that allowed them to station combat soldiers, tanks and armored vehicles on streets or in public places to prevent anti-government demonstrations. Such scenes are unimaginable for many today. The dictator Park Chung-hee, who ruled South Korea for nearly 20 years before he was assassinated by his spy chief in 1979, led several thousand troops into Seoul in the early hours of May 16, 1961, in the country’s first successful coup. During his rule, he occasionally proclaimed martial law to crack down on protests and jail critics. Less than two months after Park Chung-hee’s death, Maj. Gen. Chun Doo-hwan led tanks and troops into Seoul in December 1979 in the country’s second successful coup. The next year, he orchestrated a brutal military crackdown on a pro-democracy uprising in the southern city of Gwangju, killing at least 200 people. In the summer of 1987, massive street protests forced Chun’s government to accept direct presidential elections. His army buddy Roh Tae-woo, who had joined Chun’s 1979 coup, won the election held later in 1987 thanks largely to divided votes among liberal opposition candidates. AP writers Kim Tong-hyung and Hyung-jin Kim contributed to this story.The Latest: State funeral for Jimmy Carter will be Jan. 9
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South Korea's leader prompts dismay by briefly declaring martial law. Here's what to know
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