Naspers subsidiary PayU is among the founding members of the Libra Association, a group of companies that will have an equal say in how Facebook’s new cryptocurrency is managed.
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Facebook is to launch a cryptocurrency next year – backed by the likes of Mastercard, Visa and PayPal – which will allow people to move money from their smartphones.
Facebook has announced its own form of cryptocurrency called Libra alongside a digital wallet named Calibra, which will allow users to pay for everyday items directly using their smartphone.
Volkswagen plans to pool 5 000 digital experts into a single unit that will develop “vw.os”, a uniform software operating system across all new models.
Apple boss Tim Cook has taken aim at “chaos factory” technology giants for failing to take responsibility for data breaches and privacy violations.
Naspers’s biggest shareholder is considering whether to reduce its R245-billion stake in Africa’s biggest company because of concern it’s overexposed to a single stock, sources said.
Regulators will be watching closely when Facebook unveils its cryptocurrency project this week. Their vigilance is warranted.
Huawei founder Ren Zhengfei expects US sanctions to curtail its revenue by about $30-billion over the coming two years, wiping out its growth by withholding critical American technology.
Huawei is preparing for a 40% to 60% drop in international smartphone shipments as the Trump administration’s blacklisting hammers one of the Chinese tech giant’s most important businesses.
Government is considering a R3.2-billion guarantee for the country’s cash-strapped national broadcaster to help it raise money from lenders, according to a report.