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covid-19 pandemic

Singapore Worksite Trialing BluePass Contact Tracing and Check-in System to Curb COVID-19

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Worksite in Tampines, Singapore, managed by Surbana Jurong, is testing the application of a new BluePass contact tracking gadget and a check-in system to curb coronavirus spread. According to a report by The Straits Times on July 17, more than 400 workers were issued a BluePass wrist-mounted gadget and used Bluetooth technology to interact with other users in the vicinity every 5-10 minutes.

The new contact tracing and control system gives the managing company, Surbana Jurong, greater awareness and control of the social engagement of coronavirus patients to reduce the spread of the virus within the worksite. Notably, this new step is essential to circumvent another epidemic and shut down the economy.

COVID-19 spread management system

Moreover, the technology and gadget being tested were created by Temasek-backed cryptographic firm D’Crypt.The BluePass contact tracking and check-in system could even potentially enhance the national contact tracing gadget, TraceTogether Token, and the compulsory blockchain-based check-in system dubbed SafeEntry.

According to the Chief Executive Officer of Surbana Jurong, Mr. Wong Heang Fine, data retention and control over contact tracing is very important for firms. Recording the data of people who were close to the coronavirus patient and tracing the areas the victim had taken so that possibly infected personnel could be detached from the rest of the patient. In addition, the affected regions can be closed for fumigation without having a major effect on worksite operations.

BluePass contact tracing and check-in system for effective workforce management

g On the other hand, the company that developed a national contact tracing gadget, GovTech, does not provide companies with access to the data collected due to privacy issues. According to reports, Singapore’s Ministry of Health takes about 24 hours to notify the company of a potentially infected worker. As a safety measure, most companies quarantine the entire facility waiting for further instructions.

Like the TraceTogether Token, the BluePass Gadget uses Bluetooth signal exchanges to log in to nearby users every five to ten minutes. In addition, each BluePass token is connected to a contact number and the last four NRIC, FIN, or passport numbers of the holder are encoded on the gadget.

Texas Man Indicted after Securing COVID-19 Relief Loan to Invest in Crypto

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The United States Department of Justice (DoJ) has indicted a Texas man with securing a double relief loan of $1.1 million from the Paycheck Protection Program (PPP) of COVID-19. Conversely, Joshua Thomas Argires, as per the DoJ, has invested a portion of the funds in digital assets.

The acting Assistant Attorney General, Brian C. Rabbitt, claimed that the accused had been detained on the accounts for deceitfully securing over $1.1 million in PPP loans. The 29-year-old allegedly applied for two fake loans, one on behalf of an entity dubbed Texas Barbecue, and the other on behalf of a company named Houston Landscaping.

The accused claimed that the two entities had a lot of staff working and a high salary outlay. According to the complaint, neither of the two entities has staff, nor does it pay salaries in the amount specified by the applicant.

Argires channeled COVID-19 relief loan to Coinbase

The court filing states that on May 17, the accused had opened a Coinbase account under the name of Texas Barbecue, without any physical address. He is registered as the account’s single owner. On May 19, he began to transfer $956,250 of the COVID-19 relief loan into the Coinbase account.

The court document asserts some of the funds had to be used to invest in digital currency and yielded some profits. The document also states that none of the funds had been transferred from the Coinbase account.

Small businesses qualify for PPP loans

On the other hand, the COVID-19 relief loan secured through Houston Landscaping was retained in a bank account. Argires gradually withdrew the funds through over ATM dispensers, according to the DoJ.

The pandemic relief fund, or the CAREs Act was signed into law back on March 29, to offer contingency to Americans negatively affected by the pandemic crisis. Furthermore, the Small Business Administration provides PPP loans under this act; making small entities eligible for loans with a 1 percent interest.

Unregistered Crypto Firms Flagged by Philippines Financial Watchdog

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The financial regulator of the Philippines, Philippines Securities and Exchange Commission (SEC), has warned investors to be on alert to three unregistered crypto firms. The authority warned that the three companies might be potential scams, as they are not yet registered with appropriate government agencies.

Forsage among unregistered crypto firms flagged

Three flagged cryptocurrency firms are Forsage, RCashOnline, and The Saint John of Jerusalem Knights of Malta Foundation of the Philippines, Inc. The securities regulator warned the public that none of the above-mentioned firms had secured the relevant operating licenses or submitted documents for registration, leaving investors susceptible to fraud.

In its statement, the Philippines SEC asked investors to remain cautious when investing in companies with cryptocurrency. Notably, the Securities Regulation Code states that any individual engaged in illegal investment projects will face up to 21 years behind bars, in addition to P5 million ($100,891) in fines.

Forsage cryptocurrency firm, which Lado Okhotnikov created, is not listed with any relevant authority. It does not, therefore, have the lawful right to implore investment or sell crypto products. Moreover, the watchdog said the other unregistered crypto firm, RCashOnline, is not recognized as a partnership or a corporation.

Crypto scams on the rise amid COVID-19 pandemic

On the other hand, Saint John’s license was revoked as far back as 2003 due to refusal to report obligations. The warning by the Philippines SEC is the latest of caution to investors on blacklisted companies. In particular, investors have been warned to remain more careful than before when handing out their money during this coronavirus pandemic.

Earlier this year, the Federal Bureau of Investigations (FBI) warned that crypto-related scams are surging due to the COVID-19 pandemic worldwide. Besides, the government of Singapore revealed that the nation had seen a substantial rise in ransomware attacks in 2019.