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III Eurasian Research On Modern China And Eurasia Conference

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December 3-4, 2021, Russian-Armenian University.

Address: Russian-Armenian University, 123 Hovsep Emin St, Yerevan 0051

Organized by: “China-Eurasia” Council for Political and Strategic Research, Foundation, Armenia and Russian-Armenian University, Armenia.

Supported by: Embassy of the People’s Republic of China in Armenia

December 3, 2021

Registration (10:30 Yerevan Time)

Welcome Address and Opening Remarks (11:00-12:00)

Prof. Dr. Armen Darbinian (Rector of Russian-Armenian University).

H. E. Mr. Yong Fan (Ambassador Extraordinary and Plenipotentiary of PRC to the Republic of Armenia).

H.E. Ms. Zheng Wei (General Secretary of The Good-Neighborliness, Friendship and Cooperation Commission of the Shanghai Cooperation Organization). (Via ZOOM). (Please follow translation from Russian to English via Zoom Link).

Dr. Mher Sahakyan (Director of “China-Eurasia” Council for Political and Strategic Research, Armenia)

Family Photo of Conference Speakers and Special Guests, Reception (12:00-12:40)

Plenary Session (12:50-14:05)

Prof. Dr. Heinz Gärtner (Chair, Advisory Board, International Institute for Peace; Professor, University of Vienna; Chair, Advisory Committee for Strategy and Security Policy of the Scientific Commission at the Austrian Armed Forces, Austria)/Keynote Speech/. (Via ZOOM).

Prof. Dr. Zheng Yuntian (Director, World Socialism Institute and Assistant Director of BRI Research Center, Renmin University, China), /Keynote Speech/ (Via ZOOM).

Prof. Dr. Emilian Kavalski, (Inaugural NAWA Chair Professor, Complex Systems Lab in the Jagiellonian University of Krakow, Poland; Book Series Editor, Routledge’s “Rethinking Asia and International Relations” series), /Keynote Speech/. (Via ZOOM).

Prof. Dr. Süha Atatüre (Head of the Department of International Relations, Istanbul Gedik University, Turkey), /Keynote Speech/. (Via ZOOM).

Dr. Sergey Lukonin (Head, Sector of Economy and Politics of China, Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences), /Keynote Speech/. (Please follow translation from Russian to English via Zoom Link).

Moderator: Dr. Mher Sahakyan (Director, “China-Eurasia” Council for Political and Strategic Research, Armenia).

Panel 1. (14:10-15:25) Great Powers’ Competition in Eurasia in the Era of Changing World Order

Dr. Gina Panagopoulou (University of Piraeus, Greece), “Great Powers, Eurasia and the Pacific: The Two Pillars of the World – the Golden Apple of Discord.” (Via ZOOM).

Prof. Dr. Nirmal Jindal (Delhi University, India) “China and Eurasia in the New World Order․” (Via ZOOM).

Dr. Seven Erdogan (Recep Tayyip Erdogan University, Turkey), “The Implications of the Common Choice for Multilateralism of the European Union and China for the Multipolar World in the Making.” (Via ZOOM).

Mr. Sebastian Contin Trillo-Figueroa (2020/2021 Asia Global Fellow, AsiaGlobal Institute, University of Hong Kong), “Seeking Strategic Sovereignty: The forthcoming Sino-European relationship within the Indo-Pacific.” (Via ZOOM).

Mr. Daniel Shapiro (Harvard University ‘20, U.S. Fulbright Student Research Fellow, US), “Great Power Competition in Eurasia: China’s Rise in the South Caucasus and its Effects on American Interests.”

Mr. Mateusz Ambrożek (PhD Candidate, University of Warsaw, Poland), “Equal Distance but not Hedging: Maintaining Equilibrium by Japan under US-China Competition.” (Via ZOOM).

Moderator: Dr. Ruben Elamiryan (Chairperson and Associate Professor at the Department of World Politics and International Relations of Russian-Armenian University, Executive Officer of IPSA RC41 – Geopolitics).

Panel 2. (15:30-16:55) Eurasia and Belt and Road Initiative

Dr. Christopher B. Primiano (KIMEP University, Kazakhstan) and Dr. James Paradise (Yonsei University, South Korea), “A Parallel Order: China’s Belt and Road Initiative as a Hub and Spoke System.” (Via ZOOM).

Dr. Maria Smotrytska (International Institute for Middle East and Balkan Studies, Austria), “China’s Nordpolitik: Toward a New Logistics Order in the North.” (Via ZOOM).

Dr. Connor Judge (Ashoka University / Harvard-Yenching Institute / International Foundation for Education and Research China Studies Postdoctoral Fellowship), “Mongolia in China’s Belt and Road Initiative: Receptivity and Connectivity.” (Via ZOOM).

Dr. Shabnam Dadparvar (Tianshui Normal University, China), “China-Azerbaijan Relations within the Framework of BRI; Opportunities and Constraints.” (Via ZOOM).

Mrs. Shanjida Shahab Uddin (Research Officer, Bangladesh Institute of International and Strategic Studies, Bangladesh), “Bangladesh in the Belt and Road Initiative: Strategic Rationale and Future Implications.” (Via ZOOM).

Mr. Dmitry Erokhin (Research Assistant, International Institute for Applied Systems Analysis, PhD Candidate, Vienna University of Economics and Business, Austria), “Determinants and Gaps in Chinese Outward Foreign Direct Investment in Belt and Road Initiative Countries.” (Via ZOOM).

Mr. Asantha Senevirathna (Senior lecturer, Sir John Kotelawala University, Sri Lanka), “China’s 21st Century Maritime Silk Road and Sri Lanka: A Geopolitical Perspective.” (Via ZOOM).

Moderator: Prof. Dr. Zheng Yuntian (Director, World Socialism Institute, and Assistant Director of BRI Research Center, Renmin University of China).

Coffee/Pasties (17:00-17:20)

Panel 3. (17:25-18:25) China and the Middle East

Dr. Davoud Gharayagh-Zandi (Shahid Beheshti University, Iran), “China’s Strategic Development and Foreign Policy in the Middle East in the Second Decade of 21st Century: The Whys and the Wherefores.” (Via ZOOM).

Dr. Ozan Örmeci (Istanbul Kent University, Turkey), “Sino-Turkish Relations and The Belt and Road Initiative.” (Via ZOOM).

Dr. Haila Al-Mekaimi (Kuwait University, Kuwait), “China and the GCC: A Strategic Partnership.” (Via ZOOM).

Dr. Hussein Talal Maklad (Dean, Department of International Relations and Diplomacy, Al-sham Private University, Syria), “China’s Strategy Towards Syria”.

Moderator: Dr. Artur Israyelyan (Vice rector for International Cooperation and Public Relations, Yerevan State University).

Panel 4. (18:30-19:55) China, Central Asia, and South Caucasus

Dr. Marina O. Dmitrieva and Mr. Zakhar V. Davydov (Far Eastern Federal University, Russia), “Prospects for Multilateral Cooperation in Central Asia.” (Via ZOOM).

Dr. Sudhir Singh (University of Delhi, India), “Indian Perception of China- Central Asian Relationship.” (Via ZOOM).

Mr. Devendra Kumar (PhD Candidate, University of Hyderabad, India), “Domestic Drivers of China’s Central Asia Policy.” (Via ZOOM).

Dr. Sun Chao (Centre of International Studies, Jiangsu Administration Institute, China), “Semi-Presidentialism and Political Stability:A Reflection on Political Transition in the Caucasus.(Via ZOOM).

Dr. Salome Danelia (Ivane Javakhishvili Tbilisi State University, Georgia), “Peculiarities of Innovative Development of Economy in Georgia.” (Via ZOOM).

Ms. Mariam Topakyan (PhD Student, Faculty of International Relations, Yerevan State University), “China and South Caucasus: New Perspectives and Challenges”.

Moderator: Dr. Gevorg Melikyan (Lecturer, Russian-Armenian University; Assistant to the President of the Republic of Armenia).

__________________________________________________________________________________________

December 4, 2021

Coffee/Pasties (10:30-11:00)

Plenary Session: (11:00-11:25)

Prof. Dr. David Arase (Honorary Professor, Asia Global Institute, University of Hong Kong and Resident Professor, Hopkins-Nanjing Center of the Johns Hopkins University School of Advanced International Studies) /Keynote Speech/. (Via ZOOM).

Moderator: Mrs. Lara Setrakian (Co-founder and CEO of News Deeply, Journalist, Entrepreneur & Impact Investor).

Panel 5. (11:30-12:35) China’s Cybersecurity Issues and Digital Silk Road

Prof. Dr. Annita Larissa Sciacovelli (University of Bari Aldo Moro, Italy), “EU – China Cybersecurity Cooperation.” (Via ZOOM).

Dr. Anahit Parzyan (Executive Director, “Nork” Social Services Technology and Awareness Center” Foundation, Armenia), “China’s Cyber Diplomacy in Eurasia: Will There be a Match?”

Prof. Dr. Giorgio Caridi (E-Campus University Rome, Italy)“Innovation and digitization of communication: how to skyrocket the BRI in Europe.” (Via ZOOM).

Dr. Nehme Elias Khawly (PhD Degree, INSEEC, Paris, France), “Revolutionizing Soft Power: The Digital Silk Road in Eurasia and the MENA.” (Via ZOOM).

Dr. Ruben Elamiryan (Chairperson and Associate Professor at the Department of World Politics and International Relations of Russian-Armenian University, Executive Officer of IPSA RC41 – Geopolitics), “Cybersecurity in NATO and CSTO: Comparative Analysis of Legal and Political Frameworks.” (Via Zoom).

Moderator: Mrs. Lara Setrakian (Co-founder and CEO of News Deeply, Journalist, Entrepreneur & Impact Investor).

Panel 6. (12:40-14:20) Russia-China-India Triangle; Territorial Disputes in South China Sea

Dr. Mher Sahakyan (Director, China-Eurasia Council for Political and Strategic Research, Armenia), “Russian Greater Eurasian Partnership Strategy.”

Dr. Alexander Korolev (Associate Professor, Deputy Head of the Centre for Comprehensive European and International Studies, National Research University Higher School of Economics), “Political and Economic Security in Eurasia: IR English School Perspective.” (Via ZOOM).

Dr. DAI Weijing (Peking University, China), “Competition for Leadership: China and Russia in Eurasian Integration.” (Via ZOOM).

Mr. Orazio Maria Gnerre, (PhD Student, University of Perugia, Italy), “The Strengthening of the Sino-Russian Partnership in the World Context.” (Via ZOOM).

Dr. Vishal Kumar Baswal (Jawaharlal Nehru University, India), “The Role of India, China and Russia in Emerging World Order.” (Via ZOOM).

Dr. Junuguru Srinivas (Gitam University, India), “China and India View on Emerging Global Order: A Comparative Analysis.” (Via ZOOM).

Dr. Prasanta Kumar Sahu (Jawaharlal Nehru University, India), “India- Russia Relations and the Emerging Geopolitics in Eurasia.” (Via ZOOM).

Dr. Dai Yulong (ShanghaiTech University, China), “Malaysia’s “Flexible Nail” Role in Solving its Territory Disputes with ASEAN Neighbors.” (Via ZOOM).

Moderator: Dr. David O’Brien (Institute of East Asian Politics, Ruhr University Bochum, Germany)

Panel 7. (14:25-15:35) Shanghai Cooperation Organization, Eurasian Economic Union, NATO. China’s Energy Security

Dr. Mahesh Ranjan Debata (Jawaharlal Nehru University, India),“Shanghai Cooperation Organisation at 20: An India Perspective.” (Via ZOOM).

Dr. Elżbieta Pron (University of Silesia in Katowice, Poland), “China and International Institutions – the Case of the Shanghai Cooperation Organization and China’s Foreign Policy in Central Asia.” (Via ZOOM).

Ms. Jayshree Borah (Doctoral Candidate, Shanghai International Studies University, China), “Regional Multilateralism and China: China’s push for SCO as platform for Regional Security Multilateralism?” (Via ZOOM).

Ms. Angie Hesham (PhD Student University of Hull, United Kingdom), “NATO Tilt Towards China.” (Via ZOOM).

Dr. Pavel Barakhvostov (Belarusian State Economic University, Belarus), “The Problems and Prospects of the Eurasian Economic Union at the Present Stage.” (Via ZOOM).

Mr. Ahmet Faruk ISIK (PhD Student, Shanghai International Studies University and Research Assistant, Shanghai Academy of Global Governance and Area Studies), “In the Context of Energy Security, Role of The Renewable Energy; Chinese Example.” (Via ZOOM).

Moderator: Mr. Daniel Shapiro (Harvard University ‘20, U.S. Fulbright Student Research Fellow, US).

Coffee/Pasties (15:40-15:55)

Panel 8. (16:00-16:55) Sino-Russian and Sino-Mongolian Relations: Historical Aspects of Relations

Dr. Oksana Ermolaeva (Research Fellow, Institute for Advanced Studies, New Europe College, Romania),(B)order-Making in the Russian/Soviet Empire at the Beginning of the Twentieth Century: East – West Dimension.” (Via ZOOM).

Ms. Ulyana Fedorenko (Research Fellow, VSUE, Russia), “China and Russia: An Old Strategic Partnership, but A New Format of Interaction.(Via ZOOM).

Dr. Borjgin Shurentana (Inner Mongolia University, China), “Mongolia’s Relations with China in the Post-Cold War Era: An Analysis from the Perspective of Social Cognition.”

Dr. Zhengji Ju (Nanjing University, China), “Germany, Britain and Russia in Xinjiang?” (Via ZOOM).

Moderator: Dr. Robert Ghazaryan (Director-Institute of Oriental Studies, National Academy of Sciences, Armenia).

Panel 9 (17:00-18:25) China and Central and Eastern European Countries; Vaccine Diplomacy; People to People Exchange between China and Eurasia

Dr. Sanja Arezina (Counselor with the Government of the Republic of Serbia, Research Associate-Assistant Professor at Belgrade University, Serbia.2020/2021 Asia Global Fellow, AsiaGlobal Institute, University of Hong Kong), “Chinese Relations with Central and Eastern European Countries in a New Era of Global Transformation.”

Mr. Marko Savić and Mr. Todor Lakić (PhD candidates and Teaching Assistants, University of Montenegro),“China and Montenegro: Balancing Between Debt, Vaccines and Diplomacy.” (Via ZOOM).

Prof. Dr. Olga Zalesskaia (Blagoveshchensk State Pedagogical University, Russia), “Interregional Interaction Between China and Russia in the Context of the COVID-19 Pandemic: When will the Russian-Chinese Border in the Far East Open?” (Via ZOOM).

Dr. Evgenii Gamerman (Far Eastern Branch of the Russian Academy of Sciences, Russia), “International ‘Covid Diplomacy’ in Eurasia.” (Via ZOOM).

Ms. Ani Margaryan (PhD Candidate, Nanjing Normal University, China), “The Chinese Art of Pandemic Period as the Reflection of its Fight Against and Victory Over COVID-19.” (Via ZOOM).

Prof. Dr. Song Lilei (Tongji University in Shanghai, China) and PAN Jingke (PhD Student, Heidelberg University, Germany), “The Soft Connectivity between China and Europe:  People-To-People Linkages Should Never Be Ignored.” (Via ZOOM).

Dr. Nare Haroyan (PhD Degree, Shanghai Normal University, China), “Interpersonal Conflicts between Different Cultural Individuals at Multicultural Workplace. Case Study: China”.

Moderator Dr. Anahit Parzyan (Executive Director, “Nork” Social Services Technology and Awareness Center” Foundation, Armenia).

(18:30) Official Closing Ceremony of the Conference.

Academic Council:

Dr. Mher Sahakyan (Director, “China-Eurasia” Council for Political and Strategic Research, Armenia. 2020/2021 Asia Global Fellow, AsiaGlobal Institute, University of Hong Kong, China).

Dr. Artur Israyelyan (Vice rector for International Cooperation and Public Relations, Yerevan State University).

Dr. Zheng Yun-tian (Director, World Socialism Institute, and assistant director of BRI research center, Renmin University of China, PRC).

Dr. Konstantin Kurylev (Professor, Department of Theory and History of International Relations of Peoples’ Friendship University of Russia, founder, and Editor in-chief of the “Post-Soviet Studies” academic journal and Head of the Centre of Post-Soviet Studies, Russia).

Dr. Robert Ghazaryan (Director-Institute of Oriental Studies, National Academy of Sciences, Armenia).

Dr. Bin Ma (Associate Professor at the Center for Russian and Central Asian Studies, Institute of International Studies, Fudan University, PRC).

Dr. Ruben Elamiryan (Chairperson and Associate Professor at the Department of World Politics and International Relations of Russian-Armenian University, Executive Officer of IPSA RC41 – Geopolitics).

Dr. Sanja Arezina, (Counselor with the Government of the Republic of Serbia, Research Associate-Assistant Professor at Belgrade University, Serbia.2020/2021 Asia Global Fellow, AsiaGlobal Institute, University of Hong Kong).

Dr. Sudhir Kumar Singh (Professor, Dyal Singh College, University of Delhi, New Delhi, India).

Dr. Suha Atature (Professor and Chair of International Relations – Gedik University, Turkey).

Dr. Alexander Korolev (PhD, Deputy Head of Eurasian Sector, Higher School of Economics, Russia).

Dr. Boris Vukićević (Associate Professor-University of Montenegro, Montenegro).

Dr. Varuzhan Geghamyan (Assistant Professor-Yerevan State University, Director-ARDI Institute, Armenia).

Dr. Vakhtang Charaia (Director, Center for Analysis and Forecasting at Tbilisi State University, Georgia).

Dr. Anahit Parzyan (Executive Director, “Nork” Social Services Technology and Awareness Center” Foundation, Armenia).

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About Russian-Armenian University

Russian-Armenian University (RAU) offers a diverse range of undergraduate, graduate, and postgraduate programs. The main language of instruction is Russian; however, we offer courses in Armenian and English as well. Upon graduation, students receive two Diplomas: Armenian and Russian. The University comprises 31 Departments and 8 Institutes. The University prepares specialists with up-to-date knowledge and skill ensuring their place in the competitive job market. RAU is widely recognized for its prominent activity in the regional educational and scientific environment, and it continues to expand its work internationally. The University’s growing international network provides students and lecturers with various opportunities for mobility. At RAU, we have long identified scientific research as our priority. Students of all levels are encouraged to embark on scientific explorations and participate in research conferences. Professors and postgraduate students conduct activities geared towards solving fundamental issues of modern science, their research interests varying from Natural and Computer Sciences to Social Sciences and Humanities. We conduct research at laboratories based within the Institutes of RAU and in cooperation with major Armenian science centers, including the National Academy of Sciences of Armenia.

Please click the link below to join the webinar and for translation:

https://us02web.zoom.us/j/86778503993?pwd=MmNGdWw3TUdieUFndm92amVLZVphdz09

Passcode: 850963

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Development

Repurposing Current Policies Could Deliver Multiple Benefits for Farmers

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A new World Bank and International Food Policy Research Institute (IFPRI) report finds that repurposing current agricultural public policies could deliver multiple benefits for people, the planet, and the economy. ‘Repurposing Agricultural Policies and Support: Options to Transform Agriculture and Food Systems for Better Health of People, Economies and Planet’ reveals that investing in climate-smart innovations that both increase agricultural productivity and reduce greenhouse gas emissions could reduce overall emissions from agriculture by more than 40%, restore 105 million hectares of agricultural land to natural habitats, and reduce the cost of healthy foods, thereby also contributing to better nutritional outcomes. To achieve this, concerted action is needed, including support to low- and middle-income countries, facing fiscal constraints, to review current policies and prioritize green investments.

As experts and Ministers of Agriculture meet this week for the annual Global Forum for Food and Agriculture hosted by the German government, the report also notes that current policies only return 35 cents to farmers for every US dollar of public support. According to modeling conducted by the authors, redirecting about $70 billion a year, equivalent to 1% of global agricultural output, would improve economic efficiency and result in net gains to the global economy of about $2.4 trillion in 2040.

“Agricultural policies and public support programs are ripe for change. Policymakers are well-placed to scrutinize and rethink current policies and programs to better benefit farmers, increase food security, build resilience in the face of climate change, and reduce greenhouse gas emissions,” said Martien van Nieuwkoop, Director of the Agriculture and Food Global Practice at the World Bank.

Under a “business-as-usual” scenario, the report estimates that greenhouse gas emissions from agricultural production will double by 2040, with 56 million hectares of new land being used for agriculture between 2020 and 2040. However, there are important trade-offs for policymakers to consider as they seek to reform agricultural support policies to achieve better outcomes.

For example, the report finds that simply eliminating support would lower farm output and increase poverty while generating only modest climate gains. Making support conditional on more environmentally friendly but lower-yielding production methods can generate climate benefits, but would increase food prices and poverty, while expanding agricultural land use.

The most effective repurposing, therefore, requires policy incentives and public investment in technologies that both reduce emissions and enhance productivity to meet growing demand for food and ensure food security. These technologies include feed supplements that reduce livestock emissions while increasing productivity, and rice production systems that use less water and produce less methane, without compromising farmers’ incomes and yields.

International collaboration will be vital. “Everyone must come together to reset current policies if we are to address the threats of climate change and unsustainable food systems. Together we can build better food systems and progress towards shared development goals, if we start reforming our public policies now,” said Johan Swinnen, Director General of IFPRI and Global Director for Systems Transformation, CGIAR.

The World Bank is working with governments to rethink and transform food systems, including redirecting public support to produce better outcomes, foster innovation and enable sustainable growth. Building on policy analysis by IFPRI, the World Bank is helping several countries assess the trade-offs and benefits of different policy options, to identify the best path forward for reform.

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Finance

Centralized vs Decentralized Stablecoins: How they’re different

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Stablecoins are an essential part of the crypto world. It protects the traders and investors from market swings. Stablecoins have a pegged value like the U.S Dollar or any other currency. This helps in reducing volatility and works as digital money, which can easily be transferred from one exchange to another.

There are mainly two types of stablecoins available out there – Centralized stablecoins and decentralized stablecoins. Each of them has its own selling points. Hence to help you understand better, let me explain about centralized vs decentralized stablecoins.

So here we go:

What is a stablecoin?

A stablecoin is a digital asset that has a fixed price, mostly $1. This helps in removing holders from the swings of the market and offers secure and stable digital money to hold.

As per the definition by Themoneymongers.com “Stablecoins act as a midpoint between holding assets and withdrawing to the fiat currency. Also, they are effectively used for executing cross border payments.”

As their prices are pegged to a reserved asset like the US dollar, they help in reducing volatility compared to crypto coins like Bitcoin.

Centralized vs Decentralized Stablecoins

Now that you know what stablecoins are, it’s time to talk about centralized and decentralized stablecoins.

So here we go:

What is Centralized Stablecoins?

Centralized stablecoins are usually fiat collateralized off-chain. These stablecoins are usually connected with a third party custodian like a bank.

In centralized stablecoins, stability is achieved via 1:1 backing of tokens liabilities with the corresponding asset.

Some of the top examples of centralized stablecoins is Tether (USDT) and Coinbase (USDC). Apart from these, some of the new additions to the centralized stablecoins are TUSD, PAX, BUSD and GUSD.

These cryptocurrencies are essentially tokenized IOUs deployed onto a blockchain like Ethereum. Centralized stablecoins balance the supply and demand via minting and redemption mechanisms.

Under this model, users can mint stablecoins by depositing the equivalent fiat to the custodian, redeeming or burning the tokenized versions to retrieve fiat back.

Top 3 Centralized Stablecoins

Tether (USDT)

Tether is one of the most popular stablecoins available out there. It was launched back in 2014 as RealCoin. Also, the purpose of the coin was always to be worth one US dollar. The supply of the coin is limited by claimed dollar reserves.

It is also the largest stablecoin, and that’s why there was always a pressure on Tether to compile regular reports about its reserve. So it can prove that its value is always going to be the same as the US dollar.

However, the most recent report shows that just about ten percent is held in cash or deposit. Also, half of the USDT’s reserves consisted of ‘commercial paper’. Also, short term debt is issued by companies to raise funds.

TrueUSD (TUSD)

TrueUSD or TUSD is another popular coin that had a limited launch back in 2018. The stablecoin claims to conduct regular audits, and it is the first stablecoin which is fully backed by the USD dollar.

The audit of the stablecoin indicates that the supply is limited by the dollars they hold. Also, the daily churn/trade is relatively low.

Also, TUSD allows for DeFi and staking to earn returns from holdings. Plus, the stablecoin is partnering up with a bank for digital payments, and incubating ‘digital asset to DeFi’ projects.

Gemini USD (GUSD)

The Gemini Dollar (GUSD) is another popular stablecoin. This one is pegged to and backed by US dollars held in FDIC-insured bank accounts.

The funds of the stablecoins held in reserves are audited from time to time by the accounting firm, BPM LLP. The cryptocurrency was created by the popular crypto exchange Gemini, which was founded by Cameron and Tyler Winklevoss in 2014.

Also, the coin has received approval from the New York Department of Financial Services (NYDFS), and it was launched back in 2018.

What is Dcentralized Stablecoins?

Decentralized stablecoins are fully transparent and non custodial. No one can control decentralized stablecoins. Also, all collateral backing is visible to all as funds are on a publicly verified blockchain.

This allows the stablecoin to be trustless and secure with a single entity controlling the funds. Also, decentralized stablecoins can be divided into two parts- crypto-collateralized and algorithmic.

The centralized stablecoins are capable of increasing or decreasing their supply manually by minting or burning when needed. On the other hand, the algorithmic stablecoins utilize smart contracts or algorithmic markets operations controllers (AMOs), to automatically control the supply.

Top 3 Decentrlized Stablecoins

DAI Token

According to the MakersDAO’s white paper, Dai is generated, backed and kept stable by the use of Ethereum based currency deposited into MakerDAO’s vaults.

The deposited funds work as collateral whenever a user wants to withdraw their DAI currency. Also, because the cryptocurrencies are worth more than the U.S. dollar, MakerDAO can keep its stable coin pegged loosely to the U.S. dollar at a 1-to-1 ratio.

The theory of this was so good that in September 2018, a venture capital firm Andreesen Horowitz invested $15 million in MakerDAO.

EOSDT

EOSDT is a well-known cryptocurrency that operates on the EOS platform. The cryptocurrency has a currency supply of 2,642,505.29330823. It also refers to itself as a dollar pegged currency that leverages underlying EOS and BTC collateral and adds extra liquidity to the market.

Moreover, the coin is highly stable as the stability mechanisms are embedded in smart contracts to maintain a 1:1 parity with USD. Also, the coin is insured by the Equilibrium Stability Fund of 584,408.67 EOS ($ 1,332,451.76).

Defi Dollar (DUSD)

DeFi dollar is built as a stablecoin. The coin uses the primitives of DeFi to stay close to the Dollar. The coin gives the investors an opportunity to index varying stablecoins in its single token. Also, it protects users from any underlying risks.

Moreover, DUSD is collateralized by the Curve Finance liquidity provider (LP) tokens while also using Chainlink oracles to stabilize itself. Along with that, Curve is used for integrating the lending protocols and swapping tokens. This is another key step that stabilizes the token.

Furthermore, to offer you maximum safety, the token also offers you a staking mechanism. This adds an additional layer of protection to the token.

What can you do with stablecoins?

Minimize volatility:

As the value of cryptocurrencies like Bitcoin or Ethereum fluctuates a lot. There is no guarantee how the price of the coin will move. However, on the other hand, stablecoins are pegged to a more stable currency like the U.S. Dollar. This gives buyers and sellers certainty that the value of their holdings will not decrease unpredictably.

Trade or save assets:

There is absolutely no need to have a bank account to hold stablecoins. Also, they are pretty easy to transfer.

The value of stablecoins can be sent easily around the globe, including to places where the U.S. dollar may be hard to obtain or where the local currency is unstable.

Earn interest:

Most stablecoins offer you a staking mechanism. This allows you to earn interest easily. Plus, the interest rate is higher than what banks would offer. As a result, stablecoins are considered a good investment instrument.

Transfer money cheaply:

Transferring stablecoins is pretty cheap. As a result, people have already transferred millions of dollars worth of USDC and other coins with low transfer fees.

Send internationally:

Stablecoins has a fast processing time and low transaction fees compared to sending traditional money. As a result, they are a good choice when it comes to sending money anywhere in the world.

 Final Words:

So that was all for what are stablecoins, why should you use them and the Centralized vs Decentralized Stablecoins difference. I hope this has answered all your doubts about stablecoins. In case there is anything else you wish to ask, drop a comment below.

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Health & Wellness

Learning Loss Must be Recovered to Avoid Long-term Damage to Children’s Wellbeing

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School closures have caused large and persistent damage to children’s learning and wellbeing, the cost of which will be felt for decades to come, according to a new report launched today by the Global Education Evidence Advisory Panel (GEEAP), co-hosted by the UK’s Foreign, Commonwealth & Development OfficeUNICEF Office of Research-Innocenti, and the World Bank.

Prioritizing Learning During COVID-19 presents the latest data on the impact of school closures on children. Estimates suggest that without urgent action, a Grade 3 child who has lost one year of schooling during the pandemic could lose up to three years’ worth of learning in the long run.

“Learning losses due to school closures are one of the biggest global threats to medium- and long-term recovery from COVID-19. The evidence tells us that schools need to reopen and be kept open as far as possible, and steps need to be taken in reintegrating children back into the school system,” said Abhijit Banerjee, co-chair of the GEAAP. Dr. Banerjee, who shared the 2019 economics Nobel Prize in part for his work in education, is one of the 15 education experts from around the world who produced the second annual GEAAP report.

The economic cost of lost learning from the crisis will be severe. A recent estimation predicts a USD $17 trillion loss in lifetime earnings among today’s generation of schoolchildren if corrective action is not urgently taken.

“While many other sectors have rebounded when lockdowns ease, the damage to children’s education is likely to reduce children’s wellbeing, including mental health, and productivity for decades, making education disruption one of the biggest threats to medium- and long-term recovery from COVID-19 unless governments act swiftly,” saidKwame Akyeampong, Panel co-chair.

Low- and middle-income countries and children from lower socioeconomic backgrounds have been the hardest hit, the report notes. Schools have, on average, been closed for longer than in high-income countries, students have had less or no access to technology during school closures, and there has been less adaptation to the challenges of the crisis.  Evidence is mounting of the low effectiveness of remote learning efforts. In Sao Paolo, Brazil, for example, Grade 5 students in remote classes learned nearly 75% less and were 2.5 times more likely to drop out. Emerging data on learning loss shows Grade 4 students in South Africa having lost at least 62% of a year of learning due to school closures, and students in rural Karnataka, India, are estimated to have lost a full year. The increase in education inequality that COVID-19 has created, across and within countries, is not only a problem in its own right; varied learning levels in the classroom makes it more difficult for teachers to help most students catch up, especially the most marginalized.

“While schools must be the first to open as restrictions are lifted, recovering the loss that children have experienced requires far more than simply reopening classrooms. Schoolchildren need intensive support to get back on track, teachers need access to quality training and resources, and education systems need to be transformed,” said Robert Jenkins, UNICEF Director of Education.

“Over 1.6 billion schoolchildren globally were shut out of school at the height of the pandemic, compounding the learning crisis poorer countries were already facing,” said Vicky Ford MP, UK Minister for Africa, Latin America and the Caribbean, ahead of the report launch today. “My priority in the coming year is to ensure as many children as possible globally get back to school and back to high-quality learning.”

The report identifies four urgent recommendations made by the Panel (GEEAP) to help prevent further loss and recover children’s education:

Prioritize keeping schools and preschools fully open. The large educational, economic, social, and mental health costs of school closures and the inadequacy of remote learning strategies as substitutes for in-person learning make it clear that school closures should be a last resort.

Prioritize teachers for the COVID-19 vaccination, and use masks where assessed as appropriate, and improve ventilation. While not prerequisites to reopening schools, the risk of transmission in schools can be sharply reduced when a combined set of mitigating actions, such as using quality masks and ventilation, are taken.

Adjust instruction to support the learning needs of children and focus on important foundational skills. It is critical to assess students’ learning levels as schools reopen. Targeting instruction tailored to a child’s learning level has been shown to be cost-effective at helping students catch up, including grouping children by level all day or part of the day.

Governments must ensure teachers have adequate support to help children learn. Interventions that provide teachers with carefully structured and simple pedagogy programs have been found to cost-effectively increase literacy and numeracy, particularly when combined with accountability, feedback, and monitoring mechanisms.

The expert panel also calls on governments to build on the lessons learned during school closures by supporting parental engagement and leveraging existing technology.

“We must continue to sound the alarm on the crisis in education and ensure that policy makers have clear evidence for how to recover the catastrophic learning losses and prevent a lost generation,” said Jaime Saavedra, Panel member and Global Director for Education at the World Bank.

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