CIBC Shares Bitcoin Blog and Investment News

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CIBC’s Private Wealth Chief Investment Officer, Dave Donabedian published a multi-part series that focuses on cryptocurrency developments.

Read part 1: The Buzz about Bitcoin, news about cryptocurrency is everywhere, as are stories of fortunes being made.  Bitcoin appeared seemingly out of nowhere, 11 years ago, and has since become the fastest-growing, best-performing asset/currency in the world.

Let’s pull back the curtain and learn more about this phenomenon.

Read part 2: Bitcoin is a phenomenon: But is it a good investment?   Here, we tackle the question of Bitcoin’s investment merits. We will get into the core investment questions around Bitcoin, but first it’s important for an investor to understand the type of investment something like Bitcoin represents in a portfolio.

 

Also, CIBC Private Wealth posts a 1-page monthly investment bulletin that highlights the key drivers impacting the financial markets in prior month (November) and the items to watch in next month (December).  CIBCs Investment Bulletin December 2021

Electronic Security Systems Market – Forecasts from 2021 to 2026 Released

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The following are topline results from Research and Markets latest security industry report:

– The electronic system security market was valued at US$46.167 billion in 2019 and is expected to grow at a CAGR of 11.28% over the forecast period to reach a total market size of US$95.442 billion in 2026

– One of the biggest markets in the technology segment is the surveillance market and it has tremendous growth prospects globally as well as in India

– Investments and new technology in electronic security are driving the market. In India, this sector has attracted strong investment in the form of FDI inflows. Companies in India are planning to invest in production, distribution, and R&D in the upcoming years

– The increase in terror activities globally has raised alarms for increasing the security services. For example, if we talk about terrorism, India ranks sixth out of 162 countries in terms of terrorism. The number of incidents of killing were 476 in 2018. 2019 recorded 1,787 terrorism-linked incidents

– Companies mentioned in this report include; FrontPoint Security Solutions, ADT LLC, Link Interactive, Vivint Inc., Zicom Electronic Security Systems Limited, Bosch Sicherheitssysteme GmbH, Protect America Inc., Axis Communications AB, Honeywell Security and A2 Systems LLC

Find out more:
Electronic Security Systems Market – Forecasts from 2021 to 2026

Virginia 757/948 Area Code Overlay Relief Implementation Committee Announcement

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Please see the attached information about the Virginia 757/948 area code overlay as it relates to actions that may need to be taken by providers of Alarm, Security, and Elevator equipment.

It is imperative that alarm, security, and elevator alarm companies reprogram alarm panels in their customers’ premises if they currently are programmed to dial out seven digits to reach the alarm monitoring bureau.  If they are dialing out seven digits now, they must be reprogrammed to dial out a ten-digit number which includes the 757 area code plus telephone number.

As co-chairs of the Industry’s Virginia 757/948 Area Code Overlay Relief Implementation Committee, we are pleased to share the attached information to advise your company of the start of mandatory 10-digit dialing on 4/9/2022.

This reminder notice is similar to the letters that were sent to you on May 15, 2021 and September 3, 2021.

If you have any questions, please contact us.

Laura Dalton and Nicole Febles

Co-Chairs for the VA 757/948 Area Code Overlay Industry Committee

Laura Dalton, Verizon                        Nicole Febles, T-Mobile
914-821-9686                                    973-960-0913

Laura.r.Dalton@verizon.com            nicole.febles@t-mobile.com

 

IACP Endorse Model Alarm Ordinance

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The International Association of Chiefs of Police (IACP) recently passed a resolution that endorses the Model Alarm Ordinance as a tool for promoting “bests practices” to achieve a reduction in alarm dispatches and recommends the ordinance to its 31,000 members in 165 countries.

The ordinance, already in use in approximately 1,000 jurisdictions, was developed and tested in a cooperative effort between the Security Industry Alarm Coalition (SIAC), the IACP, and the National Sheriffs’ Association.

The IACP resolution notes that the organization “recognizes the need for and value of enforcement tools and alarm management processes recommended in this Model Ordinance to achieve the desired reduction in alarm dispatches experienced by police agencies.”

“When fully implemented and enforced, the Model Ordinance results in an approximate 60% reduction or more in alarm dispatches,” said Stan Martin, SIAC Executive Director. “The ordinance focuses on the very small percentage of systems that cause problems for law enforcement and takes into account that 85% of alarm systems generate no dispatches in any given year.”

The Model Ordinance incorporates best practices that have proven to reduce calls for services, including:

  • ECC – Enhanced Call Confirmation (previously called Enhanced Call Verification or ECV) – Two calls to different numbers to determine the cause of the alarm and whether a dispatch is required. Video, audio, and other means of confirmation are also included in the referenced ANSI CS-V01 standard in the Model Ordinance.
  • Requiring Alarm Permits w/fees – Registration for security systems is critical for the effective management of alarm programs.
  • Limiting Free Responses/fines – Setting reasonable fines for alarm dispatches can be a significant deterrent to the occasional offender. Allowing a maximum of two free responses before incurring fines is advisable. Utilizing one free response will yield even higher dispatch reductions.
  • Ceasing Response to Chronic Abusers – The industry supports stopping response to the chronic abusers while including a reasonable appeal and restoration process.
  • Accepting Cancellations – Allowing calls to be canceled if originating party verifies response is not needed.

“SIAC recognizes and supports the importance of a strong relationship between law enforcement and the private sector,” said Martin. “As the industry’s voice on electronic security issues, SIAC is committed to continuing its decades-long collaboration with leading law enforcement organizations such as the IACP to support our shared mission to protect lives and property.”

Attend UL’s Building Innovation Summit, Aug. 31-Sept. 2

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UL will host UL’s Building Innovation Summit 2021 on Aug. 31 – Sept. 2, 2021. This virtual event is for the building material and construction industry covering various topics of interest for architects and consultants,  building owners, manufacturers, fire safety professionals, and associations.

The built environment industry is transforming faster in recent times, as the COVID-19 pandemic changed how the construction industry does business. New technologies and practices, stricter safety and security regulations will continue to bring challenges to industry professionals. Construction Industry trends will bring rapid changes in global markets.

This three-day virtual event will feature informative sessions given by UL safety experts on a range of topics impacting the built environment, safety, and security. Hear what industry experts have to say about:

  • Enhancing safety and security in uncertain times
  • Innovations for a brighter tomorrow
  • Building strong foundations for a safer future

TMA members are invited to join us for this three-day summit and register to book seats in advance via the link below.

REGISTER NOW: https://www.ul.com/events/building-innovation-summit-2021

Preview the program schedule for each day.

Important info – Companies Operating in 540 Area Code

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To: Security & Alarm Companies doing business in the State of Virginia 540 Area Code

View information for the Virginia 540/826 Area Code Overlay as it related to providers in the 540 Area Code.

The 540 and 826 area codes cover the northwestern and southwestern portions of Virginia. Some of the larger cities include Blacksburg, Christiansburg, Culpeper, Fredericksburg, Front Royal, Harrisonburg, Radford, Roanoke, Salem, Staunton, Waynesboro and Winchester.

As co-chairs of the Industry’s Virginia 540/826 Area Code Overlay Relief Implementation Committee, we ask that you read the attached information and distribute as needed within your organization.  We want to ensure all Alarm Companies and Security Providers have the information attached and are prepared with the dialing changes required.

If there are questions, you should reach out to your local service provider for more detailed information.

Co-Chairs for the VA 540/826 Area Code Industry Team:

Rita Schmitz, rita.schmitz@lumen.com

Chanda Brown, chanda.brown@verizon.com

TMA Joins in Appealing CA Background Check Legislation

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On July 15th, TMA joined a diverse group of over 20 trade associations and businesses in signing on to an amicus letter to the California Supreme Court, requesting that the Court reverse a lower court decision on a background check decision.

If left standing, this decision would render most employment in the state severely delayed, and in many cases, they will no longer be possible at all. The amicus effort was led by the Consumer Data Industry Association (CDIA) and the Professional Background Screening Association (PBSA).

On May 26, 2021, the California Court of Appeals, 4th A.D (starting from Riverside County) called for the removal of significant identifiers (date of birth or driver’s license number) from criminal records.

Why is TMA involved?

You, our members, as well as others in our industry, protect people’s lives and property. Every day, businesses and families in California, as well in other states, trust that the people working in our industry are reputable and trustworthy people. Anything that would hamper our members’ abilities to conduct background checks could cause irreparable harm to our members’ customers. Drivers’ licenses are the most commonly used form of identification. Removing date of birth and driver’s license numbers as data identifying criminal defendants will handicap you and background check companies from being able to have a complete picture of an individual and be able to screen out those who should not be entrusted with people’s lives and property.

There is not likely a certain date by which the Court will decide to accept, or reject, the request. If that changes, TMA will alert you. In the event that the Court decides not to take this case, CDIA and PBSA will coordinate a strategy to seek redress by different means. That work will again require a large coalition of support.

View the full list of signatories on TMA’s website at https://tma.us/tma-joins-in-appealing-harsh-ca-background-check-legislation/

If you have any questions, please contact TMA Executive Director Celia T. Besore at ceo@tma.us or (703) 660-4913.

Amicus signatories included:

  • California Bankers Association
  • California Chamber of Commerce
  • California Credit Union League
  • California Financial Services Association
  • Checkr, Inc.
  • Coalition for Sensible Public Records Access
  • Electronic Security Association
  • Lyft, Inc.
  • Moco Incorporated
  • National Consumer Reporting, Association
  • National Public Records Research Association
  • Public Records Retrieval Network
  • Security Industry Association
  • Southern California Rental Housing Association
  • Sue Weaver CAUSE: Commit to Always Using Screened Employees
  • The Monitoring Association
  • Tribal Gaming
  • Protection Network
  • Uber Technologies, Inc.
  • Vector Security, Inc.
  • Western Burglar Alarm and Fire Alarm Association.

Industry Heavyweights Back US 6G Research Project

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Source: Mobile World Live, provided courtesy of AICC

AT&T, Nvidia, Samsung America, Qualcomm and InterDigital threw their weight behind a 6G research project in the US, as the global battle to lead in wireless technology beyond 5G continues to heat up.

The center at the University of Texas will go under the name of 6G@UT and aims to establish the groundwork for the new technology.

Each of the founding companies will sponsor at least two specific three-year projects, alongside working with academics on the development of advanced technologies. These include new sensing methods, wireless-specific machine learning algorithms and networking innovations.

Announcing the launch of the project, the University of Texas wireless networking and communications group noted the facility had been founded as an effort to “cement its leadership in wireless innovation” with new technologies including self-driving cars, flying taxis and holographic conferencing on the horizon.

It also noted part of the research would cover use of terahertz bands, which it expects will “allow carriers to better monitor the quality of their networks in different places, from office towers to busy downtown areas to far-flung rural locales”.

Next generation networks “will be loaded with radar, vision, audio, lidar, thermal, seismic and broadband software-defined radio sensors that will provide unprecedented situational awareness to applications and devices running on the network”, the university added.

The project is the latest move in the race to 6G with alliances of major corporations, governments and research facilities vying to lead on development of the new network technology, get a head start on developing use cases and shape the latest wireless technology.

Notable moves include US collaboration The Next G Alliance, an operator supported RISE-6G research project in the European Union and various state-backed R&D efforts in China.

TMA Seeks Industry Support to Extend AT&T 3G Sunset

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A message from Lou Fiore, Chair, AICC:

As many of you know, AT&T and Verizon have announced sunsets for their 3G networks. AT&T is calling for a sunset date of February 22, 2022 and Verizon is calling for a sunset of December of 2022 – 10 months later. Because of the Coronavirus many of our customers have been reluctant to have alarm technicians enter their homes and businesses so that we can upgrade their equipment to make them compatible with newer networks.

We need your help especially if your business is headquartered in one of the following states:

AK, AZ, CA, CT, CO, FL, HI, IA, IL, IN, KS, LA, MA, MI, MN, MO, MS, MT, NC, NE, NJ, NM, NV, NY, OH, OR, PA, SD, TN, TX, UT, VA, VT, WA, WI, WV

The industry is seeking a longer transition period before AT&T sunsets its 3G network. We are asking elected officials to reach out to AT&T and urge them to push back their sunset to December 2022 which would make AT&T’s sunset the same time as Verizon’s proposed sunset, citing the pandemic as the reason.

Linked here is a spreadsheet that includes the staffers of all the members on the House and Senate Telecom Subcommittees. House Members appear first, scroll down to the second page to find Senators. Please use the staffer’s email to contact the Telecom Sub-committee member.

Ideally, if your business is headquartered in a Sub-Committee member’s district or state, we would urge you to reach out to that member. Even if your business is not located in the member’s district but are from his/her state, they will pay attention.

To find out who represents your district go to:

Please let me know if you have any questions. Our lobbyist Bill Signer or I will endeavor to assist you. Thank you in advance for your help in helping our industry.

We are asking you to send the message below to your elected officials:

Dear Representative/Senator:

The burglar and fire alarm industry is seeking your help in urging AT&T to delay the shutdown of its 3G cellular network which is currently scheduled for February 22, 2022 – a mere 16 months from now – to December 2022. This would then have both Verizon and AT&T shutting down their 3G network cellular networks at the same time.

Our industry protects the safety, and property of over 30 million homes and businesses. Additionally, many seniors depend upon us to monitor their personal emergency response systems allowing them to live at home. Many of these systems were installed using the 3G cellular network and must be upgraded, otherwise they will cease to communicate once the 3G networks are shutdown. Historically, AT&T recognized the need for an appropriate time period when it moved from 2G to 3G and provided 4 1/2 years for that transition. The industry estimates that we now have upwards of 3 times the number of 3G devices to change out as we did in the past transition.

Currently, the change-out requires an alarm technician to enter the premise and upgrade the existing equipment. Unfortunately, with the Coronavirus pandemic understandably many of our customers have been reluctant to have us enter their homes and businesses. For six months and counting this has curtailed what was to be a two year transition. Realistically, we are looking at least another nine months before we will be able to resume our normal ability to upgrade these systems.

While AT&T has been working with the industry for the development of equipment that will allow consumers to self-install equipment that would upgrade home security systems, to date that equipment is still in the testing stage. While we are hopeful that the equipment will work, we are not certain it will or whether the manufacturer will be able to meet the demand in a timely fashion.

Accordingly, we are asking you to speak directly with AT&T and urge them to move back their 3G cellular shutdown date to December 2022 and make it the same time as Verizon’s shutdown. Failure to do so will put millions of homes, businesses, and lives needlessly at risk.

Include your address on the emails that you send so they know you are a constituent.

Again, thank you in advance for your help.

Stay safe,

Lou Fiore
Chair, AICC

 

Georgia Joins List of States Banning Fines for Alarm Companies When Customers Generate a False Alarm

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Atlanta, Georgia (April 1, 2021) – The Georgia General Assembly has approved a bill that would ban counties or municipal corporations from fining alarm companies for false alarms generated by a customer and through no fault of the alarm system’s contractor.

“This bill has wider implications than for just our industry,” said John Loud, Vice President of Electronic Security Association (ESA) and President of LOUD Security Systems. “The concept of fining a company for a problem caused by its customers is the equivalent of sending someone’s speeding ticket to Ford and sets a precedent that could be a threat to many industries.”

“These policies do little to change user behavior, deny the user the right to confront their accuser and access to due process, and fines an innocent party for the actions of another,” said Stan Martin, Executive Director of the Security Industry Alarm Coalition (SIAC).

The introduction of the legislation follows a bitter three-year fight after the City of Sandy Springs passed a punitive ordinance that fined alarm companies. The city’s success in defending the legislation in court caused the legislature to act. Only one other Georgia city, Brookhaven, followed Sandy Springs’ lead.

A number of other states have passed bills similar to the Georgia bill in recent years including California, Florida, New Jersey, Texas, Tennessee and Iowa.

“There has never been any evidence that fining alarm companies was any more effective than the model alarm ordinance that is widely utilized nationally and endorsed by the Georgia Association of Chiefs of Police,” said Martin.

“The model ordinance, which fines alarm users, obtains an average 60% reduction in false dispatches and impacts those causing most of the problems. In fact, 85% of alarm systems generate no calls to the police in any given year.”

Under the law companies are responsible for false alarms they cause due to faulty equipment or installation or failure to use a mandated system requiring two calls to an alarm site before notifying police.

“Common sense prevailed,” said Loud. “Our industry stands ready to work with any community that wishes to reduce unnecessary dispatches with a proven model and experts ready to assist.”

Governor Kemp is expected to sign the bill later this month.

Shared by: David Margulies, PRExperts