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Posts Tagged ‘money’

Congressional testimony reveals some faults in Facebook’s digital currency plans

As Facebook continues to lay the foundation for getting some of the world’s largest payment processing and technology companies a seat at the global monetary policy table, the company faces significant obstacles to enacting its plans from both sides of the Congressional aisle. In the second of what’s sure to be many (many many many) ...

Flybits nabs $35M to build consumer recommendation engines for the financial sector

Financial service companies like banks have seen some of their business cannibalised over the years with the rise of digital-based alternatives — often in the form of apps — that provide lower fees, faster responsiveness, and more flexibility to consumers. Today, Toronto-based startup called Flybits is announcing $35 million in funding for a platform that ...

Alan Turing will be on England’s £50 note

Computer scientist Alan Turing, key to decoding **** communications during World War II, is to be the face of the new £50 banknote. The BBC:

The work of Alan Turing, who was educated in Sherborne, Dorset, helped accelerate Allied efforts to read German Naval messages enciphered with the Enigma machine.

Less celebrated is the pivotal role ...

The new £50 notes will feature Alan Turing (whilst HMG proposes bans on Turing complete computers AND working crypto)

The Bank of England has unveiled its new £50 notes, which had been earmarked to honour a distinguished British scientist, and which will feature Alan Turing, the WWII hero who discovered many of the foundational insights to both modern computing and cryptography, and whose work with the codebreakers of Bletchley Park are widely believed to ...

Fintech in Latin America continues to draw big dollars as Softbank invests $231 million in Creditas

As investors continue to move more aggressively into Latin America’s startup scene, there’s one industry that seems to be drawing more attention than any others — financial services. As wealth across the region continues to rise, access to adequate financial services — specifically debt — has become a pain-point for an upwardly mobile middle class ...

How Can Universal Basic Income Mitigate Fallout From Automation?

In a 2018 poll, nearly half of Americans supported the idea of a Universal Basic Income program. What is Universal Basic Income, where did the idea come from, and what would it mean for our society as we know it today? Every industrial revolution displaces workers, and artificial intelligence is the next threat to job ...

PayU, Naspers’ global fintech firm, enters Southeast Asia with acquisition of Red Dot Payment

PayU, the Naspers owned fintech firm that specializes in emerging markets, is broadening its global reach into Southeast Asia after it announced a deal to buy a majority stake in Singapore-based Red Dot Payment. Naspers is best known for its payments and fintech business in markets like India, Latin America, Africa and Eastern Europe, but ...

Warburg Pincus announces new $4.25 billion fund for China and Southeast Asia

Warburg Pincus, the private equity fund with over $60 billion under management, is doubling down on Asia after it announced a $4.25 billion fund dedicated to China and Southeast Asia. The firm has been present in China for 25 years, and it has invested over $11 billion in a portfolio of over 120 startups that ...

The changing nature of venture capital

The venture industry is likely to consolidate significantly in the next decade as funding confers greater advantage to large venture investors. ...

Mystery saint giving out $100 bills and encouraging notes in eastern Canadian town

It's been a crackerjack year, hasn't it? Kids are being held in concentration camps, whole species are disappearing from the face of the earth, our weather is absolutely borked and drinkable water is fast disappearing in many locales around the world. Everything is terrible!

Except for when it isn't.

From The Globe & Mail:

An anonymous benefactor ...