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Submission + - European Central Banks Start to Replace U.S. Dollar Reserves with Chinese Yuan (qz.com) 1

hackingbear writes: The Chinese yuan hit a two-year high against the US dollar this week, after the German Bundesbank (central bank) said that it would include the yuan in its reserves for the first time. “The notable development from the European point of view over the past few years has been the growing international role of the renminbi in global financial markets,” Andreas Dombret, a member of the central bank’s executive board. As most central banks’ reserves are held in dollars, any shift into other currencies, such as the yuan, will come at the expense of the greenback. In June, the European Central Bank announced that it had exchanged €500 million ($611 million) worth of US dollar reserves into yuan securities. This was a small shift—the ECB has €44 billion in foreign exchange reserves—but nonetheless it reflects China’s growing prominence in the global financial system. Chinese Yuan still faces several hurdles in competing the U.S. Dollar, including lack of regulatory transparency and capital control which the Chinese government has imposed over the years to prevent Yuan from falling down in value, but it has steadily making progress to become an international currency.

Comment Re:The agreement covers VP8 and VP9, not VP10 (Score 1) 259

Do you have any evidence AV1 is not royalty-free? These go-nowhere arguments are pointless.

VP8 and VP9 are royalty-free. Baseline JPEG is royalty-free. PNG is royalty-free. Opus is royalty-free. AV1 will be royalty-free as well.

Unless you've got something concrete to prove that AV1 can't be royalty-free, there's nothing more to say.

Comment Re:Someone here once posted BPG, it's impressive. (Score 3, Insightful) 259

How can the parties participating in AOMedia be sure that no non-participating party holds essential patents that cover AV1?

How can any parties participating in any format development be sure that no non-participating party holds essential patents that cover their new format? It's a pointless argument.

AOMedia is going out of its way to avoid patent problems. That's the best anyone can ever do.

Comment Re:Someone here once posted BPG, it's impressive. (Score 1) 259

BPG is based on HEVC. The patent licensing situation around HEVC is a complete mess with three different patent pools from which you need to get three separate licenses from and some HEVC patent holders (like Technicolor) are not in any patent pool so you also need another license from them.

Fortunately, AV1 is licensed under royalty-free terms and has no such hassles.

Comment Re:Container vs codec (Score 4, Informative) 259

Heic is an image container.

You're thinkig of HEIF. HEIC is the file extension convention Apple adopted to indicate a HEIF file which contains HEVC encoded images.

With backing from every major tech company but Apple

No. Apple has joined the Alliance for Open Media. So Apple is an AV1 backer as well.

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