EB-5 investment in New Rochelle

Chinese nationals, who often seek visas so that their children can receive an American education, account for a large percentage of EB-5 investors.
I recently connected with the VP of AI and Machine Learning at Unity Technologies, and we exchanged a couple of emails. This has led to our decision to having our students develop apps with the Unity game engine after building our chess-playing robot.
We are also working on having a group of students attend Unity Unite in Los Angeles in October.
On Thursday, November 15th @ 7 pm at the Larchmont Public Library, I will demo CHHE, an intelligent restaurant recommendation app and give a talk on applying artificial intelligence to local retail.
In addition, we are working on a Pokémon Go-type game called Ask, Seek, & Knock that will incorporate a new blockchain protocol called Avalanche.

Danny Lange

Yong Zhao
Yong Zhao books

Yong Zhao is a Foundation Distinguished Professor in the School of Education at the University of Kansas.
TJ: The EB-5 visa grants permanent U.S. residence to anyone investing a half million dollars in a U.S.-based development project. Eighty percent of EB-5 recipients are Chinese. According to a NPR report, Bryan Withall of Sino Outbound estimates that 70 to 80 percent of families are pursuing EB-5 visas for their children’s education. As “Wang” tells us:
I’m only doing this for my son’s education. He is in a good local school, but all they do is study for tests. The Chinese education system turns everyone into the same type of person.
Chinese students score higher than American students on international tests but many Chinese parents still want their children to be educated in the United States. Can you explain this?
YZ: I’ve written about this in various places, most extensively my book Who’s Afraid of the Big Bad Dragon: Why China has the Best (and Worst) Education in the World. The simple answer to this paradox is that test scores are not good indicators of education quality. In fact attempts to pursue test scores can be counter productive, damaging what actually matters for success in life, such as confidence, creativity, and love of learning.

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Ask, Seek & Knock to Use Avalanche Token

Ask, Seek & Knock will use the Avalanche token and be featured in the documentary Dear Mr. Man: Let America Be America Again.

Avalanche token

Demystifying “Snowflake to Avalanche”
Not every day that somebody in the field of distributed systems, comes out and says “I have a new breakthrough to tell you about”. However, recently, Prof. Emin Gün Sirer, from Cornell University, said that he does.
Avalanche comes in and combines the best of Classical Consensus Protocols and Nakamoto Consensus Protocol:
  • Quick finality and low latency: That is, it takes around 2 seconds to achieve finality across the globe. This basically means that after 2 seconds, you can get your payment processed and verified.
  • Higher throughput: 1000–10,000 transactions per second.
  • Robust: The network does not need to agree on who the participants are to achieve undeniable consensus.
  • Quiescent protocol: Most importantly, the protocol is green. That means that it is sustainable, it does not waste any energy, and that there is no special ecosystem of miners with their own separate interests from the users.

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The R F Smith Card: Good Jobs & Financial Health

The R F Smith Card

It’s a sad truth of American life that the poorer you are the more you pay for banking.
For example, according to the Wall Street Journal, banks and other financial firms in 2016 generated $33 billion in fees related to overdrafts on checking accounts, this is the highest level in seven years. The Consumer Financial Protection Bureau (CFPB) has compared overdraft fees to a short-term loan with a 17,000% APR!
Mehrsa Baradaran, associate professor of law at the University of Georgia, and author of How the Other Half Banks, writes “As the banks are set up currently, the fees they charge are meant to dissuade small accounts, or accounts by people whose incomes are minimal and very uneven.”
As Baradaran writes in her book’s introduction, the banking industry has stopped serving those who are “too poor to bank”, pushing them into the arms of non-bank service providers to provide the most basic services: to cash pay checks, pay bills or transfer money. In exchange, she calculates that they fork over up to 10% of their income for these services.
In some cases, they don’t have an option: a bank may refuse to open an account for them. And banks have long been trying to “discourage” their smaller customers: fees on accounts where balances dip below a specified level even briefly can look extremely costly to a low-income household.

Financial Health

Financial Health for Everyone using A.I.
Our vision is an audacious one: to increase the number of individuals with positive financial health and well-being. To achieve financial health, people need day-to-day financial systems that build long-term resilience and opportunity. Financial health enables family stability, education, and upward mobility, not just for individuals today but across future generations. Promoting financial health is good for the American economy. Financially healthy consumers drive new opportunities for increased engagement, loyalty, and long-term revenue streams. Lasting financial health also has a positive macroeconomic impact on communities at local, regional, and national levels.
We are developing a financial adviser system with several artificial intelligence (AI) capabilities to help achieve this goal. This system learns from historical data to predict the account balances of individuals for a future time period, identify the recurring charges in their spending, determine unexpected large expenses, and analyze the category-wise spending behavior of user groups.

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Interview with Trevor Koverko, CEO of Polymath

Security tokens will dominate the blockchain universe!
Trevor Koverko

Trevor Koverko, CEO of Polymath

Trevor Koverko is prominent blockchain founder, investor and speaker.
After launching his career at the convergence of Wall Street and Silicon Valley, Trevor became a very early leader in the blockchain community.
Trevor started in 2012 in Bitcoin, has keynoted major blockchain events like The North American Bitcoin Conference, and seeded foundation projects like Ethereum, Aion, QTum, Hive, EOS, and Shapeshift.
In 2017, after predicting the mega-trend of financial securities migrating to the blockchain, Trevor cofounded Polymath – the worlds largest securities token network.
Trevor graduated from Canada’s leading business school, Ivey, was a NHL draft pick of the New York Rangers and is a 4x attendee of Satoshi Roundtable.

Polymath logo

Terrance Jackson: What is Polymath?
Trevor Koverko: I founded Polymath in 2017 after wanting to launch a token of my own for a company I founded.
I quickly learned that the token I wanted to launch would actually be considered a security token — a token that would represent shares in my company. I also learned that the barrier to entry when it came to creating a security token was simply too high for many companies.
That’s when I had the idea for Polymath and to disrupt the legacy securities industry. Polymath, which is an open-source platform, gives issuers of financial products access to the blockchain, smart contracts, and token creation technology.
Polymath provides a protocol to ease issuers– such as venture capital firms, investment funds, and companies– through the complex tech and legal processes of a successful security token launch.
In short, the idea behind Polymath is an interface between financial securities and the blockchain.

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Terrance Jackson for Congress

America needs us all. And we all depend on each other.
New York’s 16th Congressional District

Terrance Jackson for Congress

Democracy is based on citizens caring about and taking responsibility for both themselves as for the well-being of all.
Government is the instrument that citizens use to guarantee protection and empowerment for all. We all, together, provide what is needed for a decent life. Individual accomplishment rests on what other Americans have provided and keep providing.
Building the economy requires public investment — in public infrastructure, education, research, and much more.
Success is much more than money. It is your contribution to America as a whole — whether it is teaching, raising children, providing food, healing the sick, making useful products, guaranteeing our rights and our safety, or running businesses that make life better. America needs us all. And we all depend on each other.
Trump and Putin
Donald Trump can be very entertaining but…
“We’ve never had a federal elected official, let alone the leader of a party or the president of the United States, who is so easily moved from one position to another without offering any sort of justification or apology or explanation,” Michael Barber, a political scientist at Brigham Young University, says.

Trump

Donald Trump can be very entertaining but is he providing cover for “The Most Dangerous and Savage Group in the Country.”

The Paul Ryan Republicans, who in my view, are the most dangerous and savage group in the country are busy implementing programs that they have talking about quietly for years. Very savage programs which have very simple principles. One, make sure you offer to the rich and powerful gifts beyond the dreams of avarice and kick everyone else in the face. And it is going on step by step, just behind the bluster. …
Every cabinet official was chosen to destroy anything of human significance in that part of the government. It’s so systematic that it can’t be unplanned. I doubt that Trump planned it. …
Whoever is working on it, is doing a pretty effective job and the Democrats are cooperating, cooperating in a very striking way. Take a look at the focus in Congress. It’s on the few decent things that Trump has been doing. So maybe members of his transition team contacted the Russians. Is that a bad thing? …
Meanwhile the parts of the governmental structure that are beneficial to human beings and to future generations are being systematic destroyed and with very little attention.
~ Noam Chomsky

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Emin Gün Sirer: Bitcoin is Still Broken

Emin Gün Sirer

Emin Gün Sirer is a computer science professor at Cornell University. His research spans operating systems, networking, and distributed systems. He’s also co-director of the Initiative for Cryptocurrencies & Contracts, which is an initiative of faculty members at Cornell University, Cornell Tech, UC Berkeley, UIUC and the Technion to help to advance the adoption of cryptocurrencies and smart contracts.
In 2002, he started Karma, an early cryptocurrency that was the first to utilize a proof-of-work concept. He has written several influential white papers and blog posts (on Hacking Distributed) that have altered the course of Ethereum’s development. He was among the first to warn about the vulnerabilities that led to the collapse of The DAO. He also acts as the Blockchain Advisor for the WeTrust project.
He is currently number 29 on the list of the Most Influential Blockchain People.

Most Influential Blockchain People

Terrance Jackson: In 2013, You and Ittay Eyal wrote “Bitcoin is Broken.” Is Bitcoin still broken?
Emin Gün Sirer: Indeed, we found the biggest known fundamental weakness in Satoshi Nakamoto’s consensus protocol, known as Selfish Mining. Using our strategy, one can subvert Satoshi’s protocol, and possibly make more money than their fair share, at the cost of disrupting the system’s behavior. Luckily, we provided a fix for selfish mining attacks for miners smaller than 25%, but the threat from large miners is always going to be present.
Now that the attack is well-known, the community knows how to detect such attacks and put pressure on the actors who launch them. In fact, if anything, the community is hyper-diligent against miners that are too big, and puts pressure on them to break them up. No Bitcoin miner is big enough to unilaterally go selfish and harm the system.
The situation is quite different in other cryptocurrencies, however. Selfish Mining could be employed against other smaller coins.

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Freestyle Chess on the Blockchain

Weak human + machine + better process was superior to a strong computer alone and, more remarkably, superior to a strong human + machine + inferior process.

Michael Mauboussin

Michael Mauboussin, former managing director and head of Global Financial Strategies at Credit Suisse, wrote an report exploring:
[T]he applicability of freestyle chess to the world of investing, where fundamental analysts are “man” and quantitative analysts are “machine.” More pointedly, might there be a way that investors can combine the strengths of fundamental and quantitative analysis while sidestepping the weaknesses?
After witnessing the great success of the PRO Chess league:
As the number of spectators swelled to more than 6,000 this past Sunday during the final, the success of the league was even greater than the founders had imagined, according to Grandmaster (GM) Alejandro Ramirez. “The number of viewers showed that chess can compete with any eSport,” said Ramirez.

Money raised by ICO

And learning that according to Coinschedule, so far this year, more than $3 billion has been raised via ICOs or Initial Coin Offerings.
We are exploring the idea of Freestyle Chess on Blockchain as a vehicle of exploring better investment strategies, in addition to exploring Garry Kasparov’s ideas of using the decision-making process of chess as a model for understanding and improving our decision-making everywhere else and how we have discarded innovation and creativity in exchange for a steady supply of marketable products.
Garry Kasparov & Deep Blue

Garry Kasparov during his rematch against the IBM supercomputer Deep Blue, 1997

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