Day: 17 June 2024

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Mastercard reportedly to remove manual card number entry for online payments and replace it with a token system in Europe by 2030

Credit card

Beginning in 2030, Mastercard will eliminate the need for Europeans to manually enter their card numbers during online checkout, regardless of the platform or device used.

The familiar 16-digit card number will be substituted with a randomly generated ‘token.’ This change will enable consumers to complete payments with a single click at the checkout page, authenticated by a thumbprint.

Mastercard reported that 100% tokenization across e-commerce sites will reduce fraud rates dramatically.

The way we pay for products and services online will feel very different in the coming years.

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Bitcoin slips to around $66,000 level but holds at key support

Bitcon

Bitcoin’s price has experienced a dip, struggling to maintain above the $66,000 mark.

It started the week on a decline after a not-so-good weekend, with its volatility making it challenging to hold its price level. Despite this, Bitcoin recorded a minor gain on Monday 17th June 2024, in early trade, with its price on international exchanges standing at roughly $66,000. 

The $66K level is now seen as ‘critical’ for Bitcoin’s future price movements

Bitcoin slips to around $66,000 level but holds at key support

Bitcoin chart CoinMarketCap

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“Time is a created thing. To say, ‘I don’t have time,’ is like saying, ‘I don’t want to.’” – Lao Tzu

Space time

Lao Tzu

Lao Tzu’s philosophy is foundational to Taoism and focuses on living in harmony. His teachings emphasize naturalness, simplicity, and spontaneity. He also introduced the concept of the Three Treasures: compassion, frugality, and humility, as virtues to cultivate for a harmonious life.

The birth date of Lao Tzu is not precisely known and is often debated among scholars. Traditional accounts commonly place his life around the 6th century BCE, making him a contemporary of Confucius.

It is noteworthy that the historical existence of Lao Tzu is debated by some contemporary scholars, who propose that he might be a mythical figure, or a designation applied to several contributors of the Tao Te Ching.

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Microsoft will postpone the release of the AI Recall tool amid security worries

Microsoft will not include Recall, the artificial intelligence tool designed to track user activity, in the upcoming release of the Copilot+ PC.

Concerns have been raised by industry experts about the possibility of hackers creating tools to extract user information.

Microsoft has reportedly announced that Recall will transition from a widely accessible tool to a preview feature exclusive to the Windows Insiders Program.

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Chinese auto sales overtake U.S. for the first time

EV competition

For the first time, automotive companies in China surpassed their U.S. counterparts in car sales last year, driven by BYD and expansion in emerging markets, according to a data released Thursday 13th July 2024.

Chinese brands such as BYD now at the forefront, reportedly sold 13.4 million new vehicles last year. In comparison, American brands sold approximately 11.9 million units. Japanese brands remained at the top with 23.59 million sales.

China’s sales growth rate surpassed that of the U.S., with a 23% rise from the previous year compared to the U.S.’s 9% increase.

The consistent high pricing by legacy automakers has inadvertently steered consumers towards more affordable Chinese alternatives.

No surprise here then as manufacturers milked profits from legacy lineups!

Tariffs have now been introduced on China to curb their automakers runaway success.