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The Hindu Editorial Daily News Analysis – 9th Jan 2018

Data theft

  • UIDAI exposé is another reminder of the need for a robust data protection law
  • Aadhaar‟s database of names, numbers and addresses
  • Unauthorised access- In this case secured on payment of a few hundred rupees,
  • The Tribune and the reporter who broke the story-Were treated as accused
  • Direct attack on free public-spirited journalism
  • Hold public authorities and institutions accountable for shortcomings and promises
  • FIR •led against the journalist, the UIDAI has clarified it needed to provide the full details of the incident to the police
  • In this digital age, a growing pool of personal information that can be easily shared has become available to government and private entities.
  • India does not have a legal de•nition of what constitutes personal information and lacks a robust and comprehensive data protection law.
  • We need to have both quickly in place if the Supreme Court‟s judgment according privacy the status of a fundamental right is to have any meaning.
  • From east to west, India must brace itself for more disorder across continent in 2018
  • TheAsian region is nowhere near achieving the kind of equilibrium that the Concert of Europe brought to 19th century Europe.
  • Between the two giants
  • China is the rising economic and military power in Asia today
  • Second most important economic power after the U.S.
  • In seeking dominance over Asia
  • cannot afford to ignore the competition from Japan and India.
  • Doklam, India had demonstrated that it was more than capable of standing up to China‟s bullying tactics
  • Much of the speculation about the extent of China‟s rise is based on the common presumption that the U.S. under President Donald Trump had surrendered its global leadership role
  • Reluctance of the U.S. to embark on „new wars‟, especially in Asia,
  • Does not, however, undermine its geopolitical, geostrategic and geo economic
  • It is not China‟s rise, but the breakdown of the institution of the state,as is evident in Afghanistan and Syria, that poses far more pressing problems for Asia
  • EastAsia- Leadership of North Korea- Playing increasingly dangerous games- Engaging in nuclear
  • Lead to a major destabilisation of the region- with far-reaching consequences for Asia and world.
  • Future of the rest of theAsia in 2018 is again dependent on how the strategic triangle of state relations between China, Pakistan and India plays out
  • 19th Congress of the Chinese Communist Party (October 2017) essentially highlighted China‟s quest for global leadership and the means to achieve it, including making China‟s military „world
    class‟, one capable of„winning wars‟
  • India-China relations had steadily deteriorated. (Q-Why-?)
  • China moving in this direction – Nepal, the Maldives, Sri Lanka, Bangladesh and Myanmar
  • Succeeded to some extent in denting India‟s longstanding relationship with Russia
  • India need to be on its guard in 2018 as China consolidates its takeover of Gwadar (Pakistan) and Hambantota (Sri Lanka) ports. Establishment of a base in Djibouti (on the Horn ofAfrica),
  • As India grows closer to the U.S. in 2018, the India-China equation could further worsen.
  • The most recent National Security Strategy
  • India‟s association with the Quadrilateral (of U.S., India, Japan and Australia).
  • Looking at Pakistan
  • In 2017 there was an over 200% increase in cease•re violations, with infltration touching a high
  • Kulbhushan Jadhav
  • SouthAsian Association for Regional Cooperation (SAARC)
  • Lashkar-e-Taiba and the JeM in its war with India
  • Deterioration of the situation in already disturbed Afghanistan.
  • West Asia in turmoil-Syria- major powers like the U.S.and Russia, proxies
  • Saudi Arabia and Iran- Jerusalem as Israel‟s capital- might well ignite new tensions
  • Both the IS and al-Qaeda seem to have acquired a new salience lately.
  • Given such a scenario, it is difficult to be optimistic about a better 2018

The Liberian example

The age of crypto-economics

  • Finance Ministry recently issued a statement warning against investing in bitcoin and other
    cryptocurrencies (CCs). Linkening CCs to „Ponzi schemes‟,
  • It linked them to terrorfunding, smuggling, drug-tra•cking, and money-laundering.
  • The stern advisory came after three other warnings issued by the Reserve Bank of India.
  • Why the distrust?
  • Two aspects of the bitcoin phenomenon have attracted great interest: the challenge it poses to states and central banks;
  • World‟s top central bankers have •- finally realised the futility(निरर्थकता) of trying to control CCs
  • They are preparing to join them — by issuing their own Central Bank Digital Currency (CBDCs).
  • A CBDC is a complex tool whose functionality is still being researched
  • Global •financial crisis of 2008- 09 raised a simple question:what option do people have if banks are not to be trusted?
  • A man (or a group of people) named Satoshi Nakamoto provided an answer: a peer-to-peer, „trustless‟ electronic cash system based on a technology called blockchain.
  • It does…away with the bank‟s role as an intermediary, and this is what differentiates CCs from (the digital version of ) •at currencies.

 

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