Welcome to The Paradigm Shift Channel. Topics covered are CBDC's (Central Bank Digital Currencies), Food Security, Cyber Attacks, Blockchain Tech, USD Reserve Currency Status, Gold/Silver markets and Digital Payment Systems. Leave a comment in the Telegram Group Chat for discussions. https://t.me/TheParadigmShiftGroupChat

The Bank of Thailand said its central bank digital currency pilot program planned for the second quarter of next year will test its use as a cash-like payment system. The central bank will test the CBDC for “cash-like activities within a limited scale,” such as paying for goods and services, Assistant Governor Vachira Arromdee said Thursday. A CBDC could become an alternative payment option in the future as a partial substitute for cash and e-money, with demand increasing over time.

https://www.nasdaq.com/articles/thailand-cbdc-trial-to-test-use-as-cash-substitute-2021-08-19

Samsung will participate in South Korea’s CBDC pilot program, with the asset set for integration with its flagship Galaxy smartphones. Samsung has joined South Korea’s pilot program that will test the country’s in-development central bank digital currency (CBDC). The digital currency will soon be made available on Samsung’s flagship smartphone line, the Galaxy series. The currency, which the Bank of Korea is developing, began its pilot on July 28, 2021, and is being worked on in collaboration with Ground X. The latter is associated with the popular messaging platform Kakao.

https://beincrypto.com/south-korea-cbdc-samsung-galaxy-smartphones/

The SWIFT (Society for Worldwide Interbank Financial Telecommunication) system, which currently governs cross-border transactions between banks, may become obsolete. Depending on regulations, governments could also have direct visibility of financial transactions instead of having to ask banks to provide data. And the world’s 1.7 billion unbanked, including around 14 million U.S. adults, can be helped into the financial system. It’s the biggest change in money since the end of the gold standard.

https://www.msn.com/en-us/money/markets/how-china-e2-80-99s-digital-currency-could-challenge-the-almighty-dollar/ar-AANdMiy?pfr=1

A cyber espionage group from China masqueraded as Iranian hackers while breaking into and spying on Israeli government institutions, according to a new report by security researchers. The report from security company FireEye, which unmasked the group alongside Israeli defence agencies, says there is insufficient evidence to link the espionage group to the Chinese state. However, the company's threat analysts are confident that the espionage group is Chinese and that its targets "are of great interest to Beijing's financial, diplomatic, and strategic objectives".

https://news.sky.com/story/chinese-cyber-spies-posed-as-iranians-while-targeting-israeli-government-12377895

Rising prices for spaghetti, ravioli, penne and other pastas could increase again in France as a global wheat crisis continues. Heavy rain in Europe and unprecedented drought in Canada have damaged crops, causing a worldwide shortage of durum wheat, the main ingredient in most mainstream pasta products. Two-thirds of the worldwide production of the wheat comes from Canada, but the North American country has been badly hit by a record heatwave, which has ruined at least 30% of crops. Exceptionally heavy rain in Europe, including France, has not helped the global situation.

https://www.connexionfrance.com/French-news/Rush-on-ravioli-Pasta-prices-up-30-in-France-in-global-wheat-crisis

Due to the drought and unprecedented temperatures across Western Canada, her county of Wheatland has declared a state of emergency. On day five of this year’s wheat harvest at her family farm, Generation Land & Grain Co. Ltd., the effects were obvious. Their Canadian Prairie Spring, which yielded 65 bushels an acre in 2020, has dwindled to 12. Usually more drought-tolerant, their hard red spring is also suffering; as is their barley, yielding 10 to 15 bushels per acre compared to last year’s more than 100.

https://www.msn.com/en-ca/news/canada/worst-year-ive-ever-witnessed-drought-withers-western-canadas-spring-wheat/ar-AANv6cu

The U.S. State Department was recently hit by a cyber-attack and notifications of a “possible serious breach” were issued, a Fox News reporter tweeted on Saturday. It’s unclear when the breach was discovered, but it’s believed to have happened a couple of weeks ago, according to a series of tweets by reporter Jacqui Heinrich. The Department of Defense’s Cyber Command made the notifications, she said.

https://www.msn.com/en-us/news/us/us-state-department-hit-by-recent-cyber-attack-fox-says/ar-AANAdrl

JAMAICA’S central bank, called the Bank of Jamaica (BOJ), is reporting that pilot implementation of a local Central Bank Digital Currency (CBDC), which commenced in June, remains on schedule.

https://trinidadexpress.com/business/local/jamaica-to-roll-out-its-digital-currency-next-month/article_c026bdca-02dc-11ec-b261-5fcf6e6ae705.html?fbclid=IwAR21bgLs-SvlB3cfPM4nHgUdRqkwEF3LN1q0VFu4EYf2h6e5cdn47z6EGls#utm_campaign=blox&utm_source=facebook&utm_medium=social

It is hopefully clear from this brief primer what the digital currencies proposed by central banks are. In a word, they are the final evolution of fiat money: money totally under the control of the issuing government. While the language and some of the technology may be inspired by or borrowed from cryptocurrencies, don’t be deceived. Bitcoin is an attempt to preserve wealth by placing it outside the reach of government; CBDCs are intended to frustrate that end.

https://www.newswars.com/central-bank-digital-currency-what-theyre-not-telling-you/