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Showing posts from June, 2013

Who needs dollars?... We have alternate money!

History textbooks have spoken of the Barter system as our first medium for exchange of goods but paper money has been our medium of exchange for goods for over three to four centuries. While each country issues its own paper money, the US dollar has been globally accepted as a genuine currency and even countries have a demand for the US Dollar for their day-to-day transactions.  But a series of events that have occurred in the recent past might have just started shaping our new future. A future independent of US dollars, a future independent of national bank notes, a future that involves the use of alternate money.
Alternate money has been in use for a long time, mostly complementing regular money in the markets. Everyday, we collect units of alternate currencies in the form of loyalty points at fuel-stations, supermarkets and frequent flier miles on our air-tickets.  We are quick to use this alternate currency to buy more fuel, more groceries or get a free-trip, without much realizi…

Italy amends law to allow Stem Cell Therapy!

On the 22nd of May 2013, the Italian Senate took a bold and first-of-its-kind step in promoting stem cell therapy. After a public and media uproar against the therapy, the ruling party temporarily allowed patients who were already undergoing this therapy at a hospital to complete their scheduled treatment and also promised a purse of 3 million euros to setup a clinical trial for a therapy it has already given approval to.
What is Stem Cell Therapy?
Stem Cell Therapy takes advantage of pluripotent (capable of giving rise to different cell types) nature of stem cells and works on the principle that introduction of such cells into damaged tissue can help in repair of the damaged area and thereby in treatment of a disease.  Stem Cell Therapy is being looked up to as being the mode of treatment for several disorders such as Parkinson's disease, various cancers, cardiac failure and even genetic disorders such as Spinal Muscular Atrophy.
What is happening in Italy?
A private lab called St…