5 Latest Business-Tech updates

The financial and Tech world is chaotic and full of unpredictable plot twists. Money being made and money being lost. A lot can happen in the financial world and these are our top 5 Latest Business-Tech updates as of today. We collected a few of the trending financial news and made them brief to keep you updated.

1.Coinbase drops from $110bn to $67bn.

Coinbase

Coinbase drops from $110bn to $67bn. This was a huge fall after its initial debut of about $112bn. The stock started at $381 p/s on Wednesday when it went live. However, the crypto world is full of competition and it seems this fall showed that clearly. This was expected however, since it spiked with high momentum, it was only reasonable to expect a fall. However, experts are not so pessimistic towards Coinbase. [1]

Experts think it will still rise

According to experts the cryptocurrency may surge to a target price of $650. This prediction was due to the optimism in investors. Retail investors were reported to have bought about $57m of the stock at its debut. Other big companies like Cathie wood’s ark investment company which invested $257m at its debut have pushed the stock’s optimism. In fact the debut of Coinbase made the crypto world more publicly recognized than it was before. This has brought a lot of eyes on the crypto world. The company is still far from the market evaluation of Bittcoin which approximates to $1 trillion since its surge of +800%. However, the crypto market is growing fast, with a total evaluation of $2 trillion in under a decade, the crypto world is growing fast and people can only expect good things.

2.AXA opens door for Bitcoin payment

AXA
AXA insurance company

In France, the biggest insurance company in Europe AXA Just opened way for crypto currency payments. This was after their survey of individuals between the ages of 18-55. The survey showed that most of these people were already in possession of crypto currency and were willing to use it. As a result, the company made a business move and opened way for paying bills with Bitcoin. Infract their expansion into digital payment and invoicing extends to email invoices. More on that here.

The company says that the corona virus pandemic played a role in this high demand. It came at a good time when bitcoin was doing so well and reaching new highs. Furthermore, AXA is the first insurance company to do this. In a statement on their website they emphasized the convenience of bitcoin payments. They said that it was easier than other alternatives and they would work on making the payments more easier to their company.

3.5G phone networks can generate power

5G tower
5G tower

According to a recent paper published by scientific reports. Alaine Eid and few of her colleagues have worked out a way to harvest the 5G network signals to generate power. This idea is to supplement the idea of the internet of things of which would be impossible to carry out using batteries. The team from Georgia Institute of Technology have found a clever way to use a clever tool called the Rotman lens to harvest the signals and produce electricity. The Rotman lens were discovered in 1963 and were used only to concentrate emitted electromagnetic waves like camera lenses except they don’t deal exclusively with light. This time the team intends to flip the method and use it to concentrate received waves.

Rotman lens are so suited for the job that they can be used in urban areas where the waves are scattered and it can concentrate them. This technology works well on a variety of frequencies, from 24Ghz to 100Ghz. The so called millimeter range of 5G smartphones is mostly used here. In their paper, they show that the antenna can harvest waves at a distance of about 180m from the mast and produce about six microwatts. This is enough energy to run on microchips which will help in the internet of things(IoT) says the team. Hopefully we will see this technology implemented at a larger scale in no time.

4.You might be able to hide likes soon on Instagram and Facebook

5 Latest Business-Tech updates
Facebook might allow users to remove likes

Facebook and Instagram have been toiling with the concept of hiding likes for posts. There was a conflict on how this was to helpful. The core idea behind this was to reduce social comparison and social pressure becuase of the number of likes. According to Adam Moserri  head of Instagram who released a statement of tweeter, people will be able to hide their own likes count and those of others. However, there were some who disagreed with the idea suggesting that the count was important to determine what is popurlar and what is not. While some thought that the like count was creating social comparison and social pressure.[3]

The basic idea behind hiding likes was to reduce suicides or pression as a result of social comparison. JED Foundation expert Janis Whitelock said that social comparison was one of the leading problems of youth mental helath. It affected most of the youth and their mental health. The one with more likes is thought of as being better and also it gives space for cybernetic bullying. When teens dont get likes they feel like they are ugly or not good enough. The ethics are noteworthy. The arguemnt continues to say there will always be other way for social media to diminish others. However, Whitelock thinks this is a step in the right direction and as financial experts say, this has little to no effect to fakebook’s business. We will find out what they decide as this is still in speculation.

5.Mercedes-Benz introduces its electric car

Mercedes-ESQ exterior
Mercedes-ESQ exterior

Mercedes-Benz was always known for making cars that run only on fuel. However, to a great surprise, the automobile giant has introduced their first electric car. The car which is called Mercedes EQS will be their first electric car and according to Mercedes, this car will be the best in the world. This followed after the success of their last combustion model S-Class. However, this time they will he entering the competition with a few giants like Tesla and perhaps the upcoming Xiaomi which announced it will be venturing there too. Electric  cars are judged based on battery efficacy and software engineering.

5 Latest Business-Tech updates
mercedes-eqs-revealed-interior-front-seats-1

The car has a few interesting features like their digital panel covering part of the entire dashboard. From most of the test drives, the car received a lot of positive feedback. However, analysts argued that it would not outsell Tesla but it would do better than  tesla in terms of luxury. Read more about it here.

Duncan Edwards

I am an internet entrepreneur sharing information with the world to further educate it. I cover topics such as business, technology, science, celebrity gossips, biographies and trending stories in general.

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