Connect with us

Tech

Afghanistan’s looming cash crisis threatens to worsen a humanitarian disaster

Published

on

Afghanistan’s looming cash crisis threatens to worsen a humanitarian disaster


It was an important project: the Afghan economy runs on cash, and only an estimated 10 to 15% of citizens have a bank account. APS was meant to help Afghanistan become less cash-dependent, make economic transactions more secure and efficient, and bring real banking to more people. And, says Khademi, it was moving fast before the US withdrew its forces and the Taliban took over.

Now, though, as chaos continues to unfold in Afghanistan, the project has stopped, and cash is running out before any viable alternatives have been put in place. 

But a different outcome was within reach, Khademi says: Afghanistan was perhaps just a year or two away from having a 21st-century digital banking infrastructure that could cope even if cash disappeared. His team was “very committed and hardworking”, he says, regularly working up to 17-hour days to support rapid growth. They were “so passionate about the economy to be standing on its own.” 

“We were hoping our efforts would pay off,” he says, through tears. “It seems like everything was in vain, everything we have done. It seems like a dream, but now it’s never going to come true.”

Frozen assets

The cash crisis is not an accident. Most of the previous Afghan government’s assets were held in offshore accounts that have since been frozen to prevent the Taliban from gaining access, according to former Central Bank governor Ajmal Ahmady. And the US has chosen to prevent the Taliban—which is on the Treasury Department’s sanctions list—from getting hold of other funds by freezing Afghan government cash reserves and halting planned shipments of cash. Many Afghans have been expecting such a situation for weeks, with long lines at banks as citizens worried about the future drained them of cash.

ATM activity went through the roof. “Friends [who work in banks] said where they normally did hundreds of transactions per day, they were doing thousands,” says Ruchi Kumar, a journalist and contributor to MIT Technology Review who worked in Kabul for eight years but fled the country recently.

The problems caused by the lack of cash are building up. US dollars are becoming increasingly scarce, the value of Afghan cash is plummeting and, according to Khademi, the price of basic goods is skyrocketing. Cash remains in circulation—Afghanistan has a sizeable informal banking system, run though local unlicensed currency traders. Sources say that they are still operating, but without banking activity, money supply will soon run tight. 

Some outsiders are trying to fill the gap by running online fundraising campaigns, while others have even suggested that cryptocurrency could step into the void

But getting money into the country from outside has become more difficult. Western Union, the world’s largest money transfer company, has suspended services in Afghanistan, and NBC reports that MoneyGram has halted operations there too. Meanwhile some foreign crowdfunding websites, such as GoFundMe, have been accused of “disingenuous” behavior after blocking some fundraising efforts for the country while letting others proceed.

“I didn’t think this day would come”

While digital alternatives have largely failed to fill the gap left by the cash collapse, there have been some windows of opportunity for alternative services to help out.

Kumar, the journalist, says that vulnerable Afghans are using services like WasalPay—an online payment system for utility bills—to keep their phone credit topped up.

She’s using it to send money that people in distress can use to stay connected. Her network includes journalists, activists, and human rights defenders; they are able to use WasalPay to access funds coming from outside the country, whether from individual donations and contributions, or from larger sources such as the International Women’s Media Foundation. 



Tech

The Download: Introducing our TR35 list, and the death of the smart city

Published

on

JA22 cover


Spoiler alert: our annual Innovators Under 35 list isn’t actually about what a small group of smart young people have been up to (although that’s certainly part of it.) It’s really about where the world of technology is headed next.

As you read about the problems this year’s winners have set out to solve, you’ll also glimpse the near future of AI, biotech, materials, computing, and the fight against climate change.

To connect the dots, we asked five experts—all judges or former winners—to write short essays about where they see the most promise, and the biggest potential roadblocks, in their respective fields. We hope the list inspires you and gives you a sense of what to expect in the years ahead.

Read the full list here.

The Urbanism issue

The modern city is a surveillance device. It can track your movements via your license plate, your cell phone, and your face. But go to any city or suburb in the United States and there’s a different type of monitoring happening, one powered by networks of privately owned doorbell cameras, wildlife cameras, and even garden-variety security cameras. 

The latest print issue of MIT Technology Review examines why, independently of local governments, we have built our neighborhoods into panopticons: everyone watching everything, all the time. Here is a selection of some of the new stories in the edition, guaranteed to make you wonder whether smart cities really are so smart after all:

– How groups of online neighborhood watchmen are taking the law into their own hands.

– Why Toronto wants you to forget everything you know about smart cities.

– Bike theft is a huge problem. Specialized parking pods could be the answer.

– Public transport wants to kill off cash—but it won’t be as disruptive as you think.

Continue Reading

Tech

Toronto wants to kill the smart city forever

Published

on

Toronto wants to kill the smart city forever


Most Quayside watchers have a hard time believing that covid was the real reason for ending the project. Sidewalk Labs never really painted a compelling picture of the place it hoped to build. 

Quayside 2.0

The new Waterfront Toronto project has clearly learned from the past. Renderings of the new plans for Quayside—call it Quayside 2.0—released earlier this year show trees and greenery sprouting from every possible balcony and outcropping, with nary an autonomous vehicle or drone in site. The project’s highly accomplished design team—led by Alison Brooks, a Canadian architect based in London; the renowned Ghanaian-British architect David Adjaye; Matthew Hickey, a Mohawk architect from the Six Nations First Nation; and the Danish firm Henning Larsen—all speak of this new corner of Canada’s largest city not as a techno-utopia but as a bucolic retreat. 

In every way, Quayside 2.0 promotes the notion that an urban neighborhood can be a hybrid of the natural and the manmade. The project boldly suggests that we now want our cities to be green, both metaphorically and literally—the renderings are so loaded with trees that they suggest foliage is a new form of architectural ornament. In the promotional video for the project, Adjaye, known for his design of the Smithsonian Museum of African American History, cites the “importance of human life, plant life, and the natural world.” The pendulum has swung back toward Howard’s garden city: Quayside 2022 is a conspicuous disavowal not only of the 2017 proposal but of the smart city concept itself.

To some extent, this retreat to nature reflects the changing times, as society has gone from a place of techno-optimism (think: Steve Jobs introducing the iPhone) to a place of skepticism, scarred by data collection scandals, misinformation, online harassment, and outright techno-fraud. Sure, the tech industry has made life more productive over the past two decades, but has it made it better? Sidewalk never had an answer to this. 

 “To me it’s a wonderful ending because we didn’t end up with a big mistake,” says Jennifer Keesmaat, former chief planner for Toronto, who advised the Ministry of Infrastructure on how to set this next iteration up for success. She’s enthusiastic about the rethought plan for the area: “If you look at what we’re doing now on that site, it’s classic city building with a 21st-century twist, which means it’s a carbon-neutral community. It’s a totally electrified community. It’s a community that prioritizes affordable housing, because we have an affordable-housing crisis in our city. It’s a community that has a strong emphasis on green space and urban agriculture and urban farming. Are those things that are derived from Sidewalk’s proposal? Not really.”

Continue Reading

Tech

Rewriting what we thought was possible in biotech

Published

on

Rewriting what we thought was possible in biotech


What ML and AI in biotech broadly need to engage with are the holes that are unique to the study of health. Success stories like neural nets that learned to identify dogs in images were built with the help of high-quality image labeling that people were in a good position to provide. Even attempts to generate or translate human language are easily verified and audited by experts who speak a particular language. 

Instead, much of biology, health, and medicine is very much in the stage of fundamental discovery. How do neurodegenerative diseases work? What environmental factors really matter? What role does nutrition play in overall human health? We don’t know yet. In health and biotech, machine learning is taking on a different, more challenging, task—one that will require less engineering and more science.

Marzyeh Ghassemi is an assistant professor at MIT and a faculty member at the Vector Institute (and a 35 Innovators honoree in 2018).

Continue Reading

Copyright © 2021 Seminole Press.