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Crypto surges after Trump’s election – but is it a good ethical investment?

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Estimated 18 million Americans are invested cryptocurrency– says the Federal Reserve. And the United States has just chosen pro-crypto-president.

Cryptocurrencies like Bitcoin have change into trendy digital resource. Supporters say crypto undermines capitalism because it bypasses traditional bankers. Crypto perhaps offer quick riches together with an environment of high-tech sophistication.

Early adopters reaped enormous advantages, and plenty of of them became millionaires and billionaires.

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Currently, there are approx 100,000 cryptocurrency millionaires. Moreover, cryptocurrency wealth has been built Fairshake, the most important political lobbying group within the US During the last election, it helped elect 253 pro-crypto candidates.

But is cryptocurrency a good ethical investment?

as business professor who studies the technology and its implications, I even have identified three ethical harms related to cryptocurrency which will give investors pause.

Three wrongs

The first harm is excessive energy consumptionparticularly Bitcoin, the primary decentralized cryptocurrency.

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Bitcoins are created or “mined” by tens of hundreds of computers in huge data centers, which contributes significantly to carbon emissions and environmental degradation. Bitcoin mining, which accounts for the lion’s share of cryptocurrency’s energy consumption, uses as much as 0.9% of worldwide electricity demand – near Australia’s annual energy demand.

Secondly, unregulated and anonymous cryptocurrencies are the payment system of alternative for criminals fraud, tax evasion, human trafficking AND ransomware – the latter cost victims an estimated $1 billion in fraudulent cryptocurrency payments.

Until about a decade ago, these bad actors generally moved and laundered money through money and shell corporations. However, around 2015, many individuals switched to cryptocurrency, which is a much less cumbersome type of service dirty money anonymously.

The bank cannot store or transfer money anonymously. By law it is a bank passively complicit in money laundering if not enforced get to know your customer measures to curb bad actors resembling money launderers.

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However, within the case of cryptocurrency, legal and ethical responsibility can’t be transferred to the bank – the bank doesn’t exist. So who is complicit? Any member of the cryptocurrency ecosystem will be seen as ethically complicit in enabling illegal activities.

Enegix employees work at a data center in Ekibastus, Kazakhstan, certainly one of the world’s largest Bitcoin mines, January 3, 2023.
Meiramgul Kussainova/Anadolu Agency via Getty Images

I find these first two harms to be probably the most ethically troubling. The first harms the Earth, the second undermines global systems of trust – the interplay of institutions that underpin economic activity and social order.

The third problem of cryptocurrency is its predatory culture.

A predatory system, especially without regulatory oversight, exploits small investors. And some cryptocurrencies have enriched their founders by reaping the advantages lack of investor knowledge about virtual currency.

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Some cryptocurrencies, especially smaller coins and initial coin offerings, do Characteristics of Ponzi schemes.

For example, the now defunct Bitconnect promised investors big profits who exchanged their Bitcoins for Bitconnect tokens. New investors’ money paid out “profits” to the primary layer of investors with later investors’ money.

Ultimately, Satish Kumbhani, founding father of Bitconnect, decided to achieve this indicted by a federal grand juryand from 2024 his whereabouts are unknown.

A pernicious myth

In addition to the ethical harms of cryptocurrency, there is a pernicious myth surrounding digital coin. The myth of inclusion is the idea that cryptocurrency has the facility to profit especially socially disadvantaged people without a checking account.

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The world’s poor who wouldn’t have bank accounts and who could use cryptocurrency for international money transfers to family back home don’t necessarily enjoy the advantages of cryptocurrencies. It’s for this reason need pay conversion and transfer feessay, dollars to cryptocurrency, after which from cryptocurrency to the local currency of the person receiving the cash transfer.

In fact, the distribution of crypto assets is largely concentrated among the many wealthy. A 2021 study found that simply 0.01% of Bitcoin owners controls 27% of its value.

The democratization of finance is often presented as a move geared toward breaking the dominance of traditional financial institutions – private banks and government central banks. However, this narrative didn’t prove true.

Instead, a latest elite emerged: cryptocurrency creatorsearly supporters of i conservatorswho modify the cryptocurrency’s software code and influence its future direction. This group exercises disproportionate control, including over cryptocurrency management. All of this reflects the concentration of power that cryptocurrency was intended to dismantle.

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Just a little more ethical?

To be fair, the cryptocurrency community has not ignored the criticism, including calls for greater environmental awareness.

In early 2021, community members founded Cryptocurrency Agreement. The group has recruited around 250 crypto corporations to cut back environmental damage.

The following 12 months, Ethereum took its most important step with its Ether coin. It has reduced its size energy consumption by over 99% by migrating to a coin mining mechanism called “proof of stake”, which doesn’t require miners to unravel complex, energy-intensive puzzles to validate transactions.

It was a daring move. However, Bitcoin, the most important cryptocurrency, has not followed in Ethereum’s footsteps. Bitcoin stands out in that its energy consumption exceeds that of another cryptocurrency.

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A worker stands between two rows of bitcoin mining machines along a wall.
A employee installs a latest row of bitcoin mining machines on the Whinstone US bitcoin mining facility in Rockdale, Texas, October 9, 2021.
Mark Felix/AFP/AFP via Getty Images

To address other harms of cryptocurrency, some Regulatory authorities began to regulate the cryptocurrency market in 2023, the European Union, the United Kingdom and the United States have launched efforts to curb criminality and protect investors.

In January 2024, US regulators listed funds allowedthat are popular investment funds for investing in cryptocurrencies. The move was intended to assist small investors trade in a safer market.

However, normalizing cryptocurrency trading could have perverse ethical consequences.

For example, probably the most successful ‘ethical’ fund in 2023, Nikko Ark Positive Change Innovation Fundwas successful with a 68% return because he bet on cryptocurrencies. Its manager rationalized this investment by repeating the parable that cryptocurrency allows “providing financial services to underbanked people

Where does all this leave the ethical investor?

I consider that investors have two clear ethical options regarding cryptocurrencies: they will abandon Bitcoin or no less than put money into other cryptocurrencies that minimize harm, especially environmental harm.

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However, even so-called ethical investments raise hidden ethical issues.

Many ethical investors put money into the so-called ESG funds that emphasize social or environmental impact. Some of those ESG funds may avoid holdings in oil corporations by investing directly or not directly in cryptocurrencies.

This doesn’t seem ethically coherent.

While cryptocurrency offers exciting opportunities and the potential for prime returns, its environmental impact, links to criminality and predatory nature pose significant ethical challenges.

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This article was originally published on : theconversation.com
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New Orlean Entrepreneur enters the success in the footwear industry

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New Balance, Joe Freshgoods, Chicago


An entrepreneur from Nowy Orleans achieved a brand new success because of the idea for the online footwear business, DsneAkerxpress.

Darrick Jones began to find his entrepreneurial dreams during the Covid-19 pandemic. He took his passion and knowledge in all sneakers to attach with latest clients and satisfy demand.

In the case of many sneakerhead, “bots” shopping often buy the latest drops, taking possibilities from consumers. Now Jones falsified the system back in hand real people. He doesn’t do it to make a profit, but to bring a smile on the faces of his clients with a brand new pair of kicks.

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“Love of this. I do not do it for money. I love to help people get the necessary shoes, or like a child who is looking for their first pair of Jordan … I love to provide them, appearance on their faces,” said Jones.

His botting system led to an expansive collection of footwear, which he uses to take care of his resale and calm latest customers. Its composition even includes celebrities equivalent to Lil Baby and Rob49 rappers.

“You once heard about tennis bots where you get online shoes and they automatically caught them. I bought Jordan 5s and did $ 1500. Then he began to grow and grow, and Boom, we are where we are,” said Jones.

However, not only technical skills led to its development. Jones still builds his network by participating in the conventions of sneakers, which ends up in even greater sales for the entrepreneur. He says that the experience of learning from other sellers or wholesale sneakers are crucial when scaling their activities.

“I find out how this person gets shoes from this particular website, or has this specific buying plugin or wholesale, and then I can interact with other people in the same space as me,” said Jones.

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Although every little thing is in his love of playing sneaker, Jones also thank his family and friends who supported him on this journey. It encourages all business enthusiasts to start out, because all good things require time.

“Go, never stop. Rome was not built at night. You can write like a thousand reels or publish a thousand photos, and no person buys. But someone should purchase a thousand, 2000, 3000, 4.

His range of things on the market extends to Very desirable clothing. From a limited edition to designer jackets, Dsneakerxpress enters the size.

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(Tagstranslate) latest Orlean

This article was originally published on : www.blackenterprise.com
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40,000 employees thank Marriott CEO for defending Dei among political pressure

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DEI, Marriott, CEo

During the right place for the highest of labor, the overall director of Marriott Anthony Capuano divided his sentiments about how the corporate that the captains reacted to attacks on diversity, own capital and integration released by the Trump administration. Although privately he wondered if he made the correct phone, he soon received confirmation from 1000’s of employees, which he actually selected the correct path.

According to Capuano told the stakeholders At the highest, which took place on April 8-10 in Las Vegas, that Marriott wouldn’t hesitate to create a chance for everyone who crossed the corporate’s door, whatever the political pressure of the White House.

“The winds blow, but there are some basic truths for these 98 years,” Capuano told the audience. “Welcome to everyone in our hotels and create opportunities for everyone – and they will never change in principle. The words can change, but that’s what we are as a company.”

https://twitter.com/arevamartin/status/191475286650743400?s=19

Within 24 hours of his comments, he received a litany of emails from the corporate’s most significant resources: its employees, and furthermore, over 40,000 messages thanked him for coping with diversity, equality and inclusion, because they were also the values ​​during which they believed.

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Marriott, which employs over 800,000 people around the globe, was consistently placed on the list of “best companies for work”, this 12 months the hotel network took eighth place on the list and as a consequence of its strong commitment to its employees, 90% of the worker retention index within the industry, which has a mean of 57% retention index.

According to comments, Capuano represent a position Diversity, justice and integration are usually not a social programFlooding that has been supporting the White House and other Republican countries for several years. Instead, it is an element of the corporate’s operational infrastructure, and the consistency between what the corporate says and creates a culture of consistency.

Indeed, in line with Great Place is Work, jobs with great trust on the a part of their employees They often outweigh the competition by almost 4 times. Companies for their 100 best firms also exchange their results on the stock exchange greater than thrice; This signifies that the trust of employees, as attributable to Marriott, translates directly into profitability.

According to Michael C. Bush, the General Director of the Great Place to Work: “The 100 best companies have built the foundation of employees’ trust, that it drives performance in all areas of their activities – not only in some areas, and not only for some people. They are more profitable and productive because they have consistently positive professional experience, lower firing indicators and higher levels of psychological and emotional health compared to typical jobs. “

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He continued: “These leaders be certain that that every one employees have the opportunity of special recognition and be certain that that they imagine that what they do, they’ve meaning as people in the primary place, and the employees second. They built organizations during which transparency, well -being and high level of cooperation are foundations. interested parties.

Related content: Justification for a thoughtful approach to Dei: Taking a mistaken belief and reality

(Tagstranslat) diversity

This article was originally published on : www.blackenterprise.com
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Business and Finance

Tourism to the USA is refueling. As a result, the center Flight is in the face of a $ 100 million hit

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Flight Center, one of the world’s largest travel agencies, warned that perhaps lose over $ 100 million earnings This 12 months, citing the weakening of the demand for a journey to the United States.

In a statement This week, the Company pointed to “unstable trade conditions” related to changes in the principles of entry in the USA to the Australian Security Stock Exchange (ASX).

This is the first essential indication of the Australian company that traveling to the USA is becoming a major problem. This is due to the growing fears of consumers related to American immigration controls, reports of arresting tourists and rising costs.

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Australian numbers of visitors to the USA fell by 7% in March Compared to the same time last 12 months – the sharpest fall from Covid Pandemic.

Australians should not the only ones who avoid afar. New data in the USA In March, they show sharp declines of visitors from key markets: Germany (decrease by 28%), Spain (25%), Great Britain (18%) and South Korea (15%) to mention only a few. In total, incoming tourism dropped by 11.6%.

Even Canadian travelers, traditionally the most reliable US market, fell by greater than 900,000 or 17% in March, because the growing number of Canadians select Vacation boycott.

What once was a reliable flow of high international travelers becomes a much calmer stream.

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America’s welcome mat is wearing thin

The United States, long sold as a land of possibilities and adventures, are increasingly perceived as unique. Closer control of borders, aggressive enforcement of immigration and a sharp change in the political tone They made travelers careful.

International arrival terminal at the airport in Atlanta: Tourists are considering travel plans in the USA.
Shutterstock

While the statement of the flight center used a cautious language, its general director Graham Turner was clear, saying:

People from Europe, Great Britain and Australia really are not looking for to go to the States, taking into consideration what is happening there. We hear increasingly people are not looking for to undergo passport control.

Reports about tourists arrestedIN Rugged AND deported At airports in the USA over small alleged visa problems or misunderstandings, they increased widely. In some cases, guests had Their phones and electronic devices searched for no clear reason. For many travelers it is Risk is not price taking.

The governments began to answer. Several countriesIncluding New Zealand, Germany, France, Denmark and Finland, updated the official advice on travel for the USA, calling residents Being caution during the visit. Filtering messages by international media is clear: the US is not as easy, protected or friendly because it once seemed.

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But while diplomatic warnings develop into louder, the economic costs of America’s attitudes are only starting to register.

Tourism: Forgotten America’s export

While President Donald Trump hit the tariffs to import goods from most countries, he ignored the contribution of services to the economy. The US actually conducts a surplus of services corresponding to education and tourism. Trump rejected the inheritance of guests as “This is not a big deal“.

Trade wars focused on goods – Cars, steel, agricultural products – but the service sector, which is a greater share in the economy, bears hidden costs.

Tourism is The largest service exports of the USAbringing over $ 2.3 trillion to the economy and one in ten jobs. This is a greater contribution than production tasks that they include about 8% total employment in the USA.

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As a driver economic prosperityTourism is not only free time; He maintains local firms, rural economies and thousands and thousands of maintenance.

Double blow for tourism

While the decline in arrivals has been widely reported, experience for many who still determine to visit, might also change.

Tourism is based on global supply chains, from food to hotel facilities to rented automotive fleets. Commercial war tariffs have increased expenditure costs common. Hotels, restaurants, airlines and attractions are handing over these higher costs to customers.

Miami Beach, Florida, USA
Miami Beach, Florida: Tourism is one in ten American jobs.
MDV Edwards/Shutterstock

Working deficiencies intensify the problem. Almost (*100*)20% of the American hotel strength He was born abroad. Cuts for seasonal work visas AND Increased concerns about deportation I left many firms fighting for locating staff, combining existing labor shortages.

. The weight is the heaviest on small and medium -sized enterprises, which Form the US economy background And play a key role in accommodation, restaurants and native tourist experiences.

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Quiet but expensive erosion

Tourism is not only a large part of the economy; It’s also Soft powerBy shaping the way the world perceives the nation through its culture, values ​​and hospitality.

Every visitor who feels undesirable, controlled or dissatisfied is not only lost sales, but Lost connection.

The research group forecasts the economy economics lose to $ 10 billion In the case of international travel in 2025, if current trends are continued.

And although advertisements about production work are approaching headers, the slow erosion of the American tourist brand can leave a longer, deeper scar on its culture, communities and place in the world.

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Lowering the flight center is not an isolated warning. This is a symptom of a wider change, which is a good risk by reversing visitors.

And for hundreds of American firms, employees and communities – and now also Australian – losses might not be so easily rejected.

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This article was originally published on : theconversation.com
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