WASHINGTON, Apr 13, 2022—An official from the Joe Biden administration warned last week about the severity of the semiconductor shortage in the United States.
“It’s really jarring to know that the United States cannot make the most advanced kind of semiconductors here on the mainland,” Jessica McBroom, director for international economics and competitiveness at the National Security Council, said at the 2022 LeadershIP conference last week. McBroom has been the person leading the president’s comprehensive review of supply chains since she took office in 2020.
Kathleen Kingscott, vice president of strategic partnerships for IBM Research, noted the global competitiveness of the issue on the same panel with McBroom.
“The US is an outlier right now, today, in what’s happening with these semiconductor investments around the world. The EU is on the verge of passing its version [of the] Chips Act,” Kingscott said, referring to legislation still before Congress that would plow $52 billion into U.S. investment in the semiconductor industry.
“They’re [EU] planning to fund $48 billion dollars over a ten-year period. China has already passed its $100 billion dollar investment in a five year period. India has passed a $10 billion program over six years. Japan has an eight billion-dollar program over five years, and Korea has passed a $50 billion dollar over a three year investment program,” said Kingscott.
A Senate committee heard last month that the U.S. contributes about 12 percent of global chip manufacturing, six percent from which comes from Intel. Intel announced in January that it will build a $20-billion chip manufacturing facility outside of Columbus, Ohio to ease the concern.
Commerce Secretary Gina Raimondo has previously said that the issue could devolve into a “national emergency” if legislation addressing the problem is not passed.
Added McBroom: “We have to promote our industry at home, so that means making investments to ensure that we have semiconductor factories here in the United States.”
Finance Experts Weigh Merging Regulatory Agencies to Tackle Cryptocurrencies
‘A lot of regulatory gaps exist because we have two regulators.’
WASHINGTON, May 19, 2022 – Crypto market observers are calling for a change in the regulatory system and laws to tackle the quickly growing world of digital currencies.
“We will need new substantial law,” Douglas Elliott, financial regulation expert and partner at consulting firm Oliver Wyman, said on a panel hosted by the Federalist Society on Tuesday. “There are too many ambiguities” with the current regulatory system, he added.
As state and federal governments consider how the growing crypto industry should be regulated, various crypto experts further argued Tuesday for a redesign of the regulatory structure, while others said there was no need for a consolidation of agencies.
Part of the reasoning behind the consolidation is confusion about whether cryptocurrencies are commodities or securities. As such, some are recommending a merger between the Securities and Exchange Commission and the Commodity Futures Trading Commission to handle the regulation of the digital money.
“A lot of regulatory gaps exist because we have two regulators,” said Michael Piwowar, executive director at the Milken Institute Center for Financial Markets, suggesting that Congress merge the two into a single regulatory body.
Thomas Vartanian, executive director at the Financial Technology and Cybersecurity Center, backed the agency merger idea. Vartanian explained that despite the existence of cryptocurrencies for fourteen years, crypto remains largely unregulated.
“Bottom line is we’ve built a business of ten trillion dollars with no regulation and that is a financial risk,” Vartanian said. “We are building a financial time bomb.”
But Dawn Stump, former commissioner of the CFTC, said the best way to address these gaps in crypto regulation is not to redesign the regulatory system.
In August 2021, Stump said in a public statement that due to public misunderstanding about the CFTC’s regulatory oversight authority, “there has often been a grossly inaccurate oversimplification offered which suggests these are either securities regulated by the Securities and Exchange Commission or commodities regulated by the Commodity Futures Trading Commission.”
U.S. Facing Pressure from China as Digital Currency Adoption Debate Continues
Experts expressed concern about the U.S. falling behind China on the development of a central bank digital currency.
WASHINGTON, May 12, 2022 – The U.S. is falling behind China as the central bank ponders whether to adopt a digital currency, according to observers.
“If other countries are innovating in a direction that could represent a technological advantage, and the US is not prepared to meet that challenge, the U.S. will be at a disadvantage,” said Stephanie Segal, senior associate of the economics program at the Center for Strategic and International Studies. She and other panelists were speaking at a CSIS event on Thursday.
Segal’s comments were supported by her colleagues at the center, which hosted panelists to discuss the promises and pitfalls of creating a central bank digital currency. These stablecoins, as their called, are backed by other currencies, including fiat money.
Matthew Goodman, senior vice president for economics at CSIS, noted there is a lot of uncertainty surrounding this debate on the digital dollar. While there has been interest in the U.S. for developing such a currency system, Goodman said the US is relatively “behind” and delayed in conversations about CBDC compared to countries like China.
According to Fariborz Ghadar, scholar and senior advisor at CSIS, developing a CBDC is no easy fix, and is a risky step. However the concern about China having already developed a CBDC is a “major triggering point” he said.
Steven Kamin, senior fellow at the American Enterprise Institute, called China’s development of CBDCs “nearly operational” and potentially problematic for the U.S., with China as a world leader in technology. Kamin was speaking at an AEI event in April.
Risks of such a digital currency
A CBDC has upsides, but also presents risks to privacy and cybersecurity, according to Segal. She said a CBDC could create fear about data collection methods, regarding who has access to the data, and wonders if privacy protections would be provided.
Additionally, instead of having various intermediary points of security with the current banking system, a central bank digital currency would only have one point of security, making cybersecurity more vulnerable to threats, according to Segal.
FCC’s Multi-Dwelling Decision Could Hamper Smart Wi-Fi Technology, Developer Says
The decision may disrupt managed Wi-Fi in multi-family arrangements.
HOUSTON, May 5, 2022 – The Federal Communications Commission’s decision paving the way for more competition in multi-tenant buildings may inadvertently hamper smart building technology, according to a developer of smart city tools.
The FCC finalized rules in February that prohibit internet service providers from entering exclusive revenue sharing agreements in which landlords get a cut of service provider contracts in order to increase service provider competition.
But the rules will mean managed Wi-Fi will suffer, according to a technologist at a Broadband Breakfast panel on Wednesday. That’s because such smart tools require a core group of subscribers – often done through a “bulk” purchase – to be economically viable. The result is more complicated community networks as competition between providers increases, he said.
“A lot of providers are building networks that only deliver internet to the home,” said Ted Maulucci, president of SmartOne Solutions, a smart tools developer from Canada. “They are not building networks that allow you to segregate networks within the building . . . The biggest problems we face are solved by network. The networks have to be created right.”
Maulucci called for the government to push for network building standards necessary for this technology.
Smart devices are becoming increasingly popular in multi-family units. Smart buildings are pre-engineered with this technology to promote sustainability, convenience, and safety in multitenant dwellings.
A shared interface allows residents to control thermostats, let people into the building, and view security camera visuals. Machine learning helps communities modify consumption behavior to promote sustainability and alerts residents of possible security threats through analysis of aggregated data.
Networks supplying broadband internet support these added benefits, making a community network essential for functionality.
Our Broadband Breakfast Live Online events take place on Wednesday at 12 Noon ET. You can also PARTICIPATE in the current Broadband Breakfast Live Online event and REGISTER HERE.
Wednesday, May 4, 2022, 12 Noon ET – The Future of the Smart Home, and the Future of the Smart Apartment Building
Americans are increasingly integrating smart technology into their homes and digitizing facets of everyday life. Going forward, what aspects of digitization in the home may need to be regulated by government policy? Are there any changes people are making to their homes that the tech industry should be concerned by? With all the issues surrounding broadband access in many multi-dwelling units, is there any hope for the possibility of smart apartment buildings for residents as standards of technology continue to advance? Join us for this Broadband Breakfast Live Online event from the Broadband Communities Summit to look at these questions and more.
Panelists for this Broadband Breakfast Live Online session:
- Kevin Donnelly, Vice President, Government Affairs, Technology and Strategic Initiatives, National Multifamily Housing Council
- Amy Chien, Director of Strategic Innovations, BH
- Kurt Raaflaub, Head of Product Marketing, ADTRAN
- Ted Maulucci, President, SmartONE Solutions – A Smart Community Company
- Guillermo Rivas, Vice President, New Business Development, Cox Communities
- Drew Clark (presenter and host), Editor and Publisher, Broadband Breakfast
Kevin Donnelly is Vice President for Government Affairs, Technology and Strategic Initiatives at the National Multifamily Housing Council and represents the interests of the multifamily industry before the federal government focusing on technology, connectivity, risk management and their intersection with housing policy. Kevin is a part of NMHC’s Innovation and Technology team and leads its Intelligent Buildings and Connectivity Committee. Kevin has spent over 15 years in the public policy arena at leading real estate trade associations and on Capitol Hill. Kevin received his BA from Rutgers University and his Masters in Public Management from Johns Hopkins University.
Amy Chien, Director of Strategic Innovations, BH
Kurt Raaflaub leads ADTRAN’s product marketing and public relations team, and has more than 25 years’ experience in telecom, mobile and cable. He has global product marketing, market intelligence
Ted Maulucci is A mechanical engineer, MBA and an award-winning Chief Information Officer in the Real Estate sector. Ted is a pioneer and a visionary who has created the concept of Smart Communities. He is President, SmartONE Solutions.
Guillermo Rivas is the vice president of new business development for Cox Communications. He manages the teams responsible for building strategic relationships with developers, builders and owners of apartments, condominiums or single-family projects. In this role, he helps develop programs for the builder community to maximize the return of their investment through Cox’s advanced fiber to the home network, Pre-enabled Wi-Fi, Managed Wi-Fi and IoT network solutions that improve the Resident experience.
Drew Clark is the Editor and Publisher of BroadbandBreakfast.com and a nationally-respected telecommunications attorney. Drew brings experts and practitioners together to advance the benefits provided by broadband. Under the American Recovery and Reinvestment Act of 2009, he served as head of a State Broadband Initiative, the Partnership for a Connected Illinois. He is also the President of the Rural Telecommunications Congress.
As with all Broadband Breakfast Live Online events, the FREE webcasts will take place at 12 Noon ET on Wednesday.
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