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Archivo del Autor: Belen De Leon

Tencent becomes a Linux Foundation platinum member to increase its focus on open source

Tencent, the $500-billion Chinese internet giant, is increasing its focus on open source after it became a platinum member of the Linux Foundation.

The company has long been associated with the foundation and Linux generally, it is a founding member of the Linux Foundation’s deep learning program that launched earlier this year, and now as a platinum member (the highest tier) it will take a board of directors seat and work more closely with the organization. That works two ways, with Tencent pledging to offer “further support and resources” to foundation projects and communities, while the Chinese firm itself will also tap into the foundation’s expertise and experience.

Along those lines, the company said it will contribute its open source microservices project called TARS and an open source name service project (Tseer) to The Linux Foundation. It added that an open source AI project — Angel — will be contributed to the deep learning foundation.

“We are honored to be a Platinum member of The Linux Foundation. Open source is core Tencent’s technical strategy,” Liu Xin, general manager of Tencent’s Mobile Internet Group said in a statement.

Other platinum members include Cisco, Huawei, Microsoft, AT&T, Samsung and IBM.

Earlier this year, Tencent joined another open source industry body — the Open Compute Project (OCP) community — as part of a push for open source in the hardware space.

Tencent’s chief rival Alibaba also maintains a large presence in the open source community.

Alibaba is a gold member since last year, but more than that it has invested resources into projects directly as part of a push for its cloud computing service Alicloud. The Chinese firm led a $27 million investment in MariaDB, which became its first cloud investment outside of China. At home, its Alicloud-focused deals have included investments in cloud storage provider Qiniu and big data firm Dt Dream.


Source: TechCrunch

oBike is closing its dock-less bike-sharing service in Singapore

Singapore’s upcoming licensing for dock-less bike-sharing services has claimed its first scalp after oBike — a Singapore-based company run by Chinese founders — announced that it would cease its service in the country ahead of the implementation of regulations.

The Land Transport Authority (LTA) is introducing measures to protect Singapore’s streets from a glut of bicycles left all over the place, as photo essays from China and beyond have cautioned can happen.

oBike launched its service at the beginning of 2017, and it claims over one million registered users but still it will end its service today, June 25. oBike said it will continue to run operations in other markets, although it hasn’t said if/when it will refund Singapore-based users with the deposits that they paid upon registration.

“oBike strongly believes and is committed to provide [sic] dock-less bicycle sharing service that would benefit users’ commuting and Singapore’s transportation system, however it is with regret that the new regulation measures do not favour this belief of ours,” the company said in a statement that posted to Facebook.

This move comes weeks after oBike exited Melbourne in Australia following issues with regulation.

oBike has directed its customers to the newly-launched bike platform from ride-hailing giant Grab, which went live in March. Other alternatives in Singapore also include services from Chinese duo Ofo and Mobike.

Grab said today it has removed oBike from its list of service providers — its platform aggregates other services into a single place — and added new options.

“As of today, oBikes will no longer be available on our platform. We understand this may impact your GrabCycle experience. Therefore, we will be waiving your active subscription fee, and refunding your deposit,
if any by 26th June. We will also add a complimentary 4-week GrabCycle subscription to your account to try our newest partner, Anywheel,” it wrote in a blog post.

Grab is actually an investor in oBike, as TechCrunch reported last year, after taking part in its $45 million Series B round that was announced in August 2017.


Source: TechCrunch

'Westworld' Recap, Season 2 Episode 10: What *Is* Real?

All of Season 2 has toyed with perceptions of reality—and the finale took that to the extreme.
Source: Wired

Meituan, the Tencent-backed “one-stop super app,” files for IPO in Hong Kong

After months of speculation, Meituan, the largest service booking app in China, confirmed that it has filed for a public offering. The company’s IPO application was submitted to the Hong Kong stock exchange earlier today and is being sponsored by Goldman Sachs, Morgan Stanley and Bank of America Merrill Lynch. A spokesperson for Meituan said the company is currently not disclosing information about fundraising amount or valuation. Reuters reports that Meituan wants to raise more than $4 billion.

Meituan was created after Meituan and Dianping, two competitors in the group deals space, merged in 2015 (it is still formally known was Meituan Dianping). Since then, the company has added more services to become China’s leader in O2O (online-to-offline), a catchphrase for goods and services that are purchased online, but bring people into brick and mortar businesses, like movie ticket bookings.

One interesting aspect of the merger is that it brought together two archrivals, Alibaba and Tencent. Alibaba was one of Meituan’s investors, while Tencent backed Dianping. Since then, Alibaba has sold off most of its Meituan Dianping stake to focus on Koubei, its own O2O app, while Tencent has maintained an investment relationship with the company. For example, it led Meituan’s $4 billion Series C last October.

Meituan initially focused on restaurant reservations and food delivery, before expanding into more local services to create what it describes as a “one-stop super app” that allows users to buy movie tickets, make spa and salon appointments, book transportation and hotel rooms, and even pay for bike-sharing program MoBike, which Meituan acquired for $2.7 billion in April. The company says one advantage of its business model is customer conversion between verticals. For example, it claims over 80% of its new hotel booking consumers first began using the app for food delivery or restaurant reservations.

In its announcement today, Meituan said it currently has 310 million transacting users and 4.4 million active merchants. Over the past three years, its revenue grew from 4 billion RMB in 2015, to 13 billion RMB in 2016, before hitting 33.9 billion RMB (about $5.2 billion) in 2017. Meanwhile, its gross transaction value went from 161 billion RMB in 2015 to 237 billion RMB in 2016, then 357 billion RMB (about $54.8 billion) in 2017. Meituan also said that it’s adjusted net loss dropped from 5.9 billion RMB in 2015 to 2.9 billion RMB (about $430 million) in 2017.


Source: TechCrunch

League of Legends Twitch channel becomes first to reach 1 billion views – CNET

The Twitch channel for League of Legends developer Riot Games enters the record books.
Source: CNET

NASA gives Jupiter the Van Gogh treatment with magnificent new image – CNET

Jupiter’s vociferous weather systems snapped on a Juno fly-by reveal a stunning cosmic oil painting.
Source: CNET

Fintech friends: Monzo partners with TransferWise for international payments

“So what’s going on here then?” I ask. “Two good friends just got even better [friends],” replies TransferWise co-founder Kristo Käärmann laughing, while Monzo co-founder Tom Blomfield, who is also on the video call, smiles approvingly. “Sorry for spoiling your news,” I tell the pair, who I’m interviewing ahead of an announcement today that the two companies are working together.

The partnership, which TechCrunch outed nearly three weeks ago, will see TransferWise power international payments for the U.K. challenger bank’s 750,000 customers. It is the second new bank partnership that the fintech unicorn has unveiled this month, after announcing that it has begun working with France’s second largest bank BPCE Groupe.

TransferWise also powers international money transfer for Germany’s N26, and Estonia’s LHV. However, a previously announced partnership with the U.K.’s Starling Bank never materialised and has since been disbanded.

Asked why Monzo has chosen to work with TransferWise, Blomfield reiterates the challenger bank’s goal of becoming a “hub or control centre” for your money. This won’t necessarily all be done by Monzo, he says, “but with partner organisations who plug into this hub”. TransferWise is the first of these.

International payments has also been one of the most requested features by Monzo users since the challenger bank posted a roadmap of things it intends to “fix” over the next three months now that the switch from a pre-paid card to a full current account has been completed.

“I’ve personally been a TransferWise customer for five or six years and the service is amazing,” says Blomfield. “Compared to my old bank, it’s really, really transparent, the fees are really fair, and they’re continually working on bringing fees down and to make transfers more instantaneous. So I can’t think of a better a partner to do foreign transfers with than TransferWise”.

I ask Käärmann how different the conversation is with a challenger bank like Monzo — which arguably has nothing to lose by partnering with TransferWise and will generate affiliate revenue on each transfer — compared with larger incumbent banks who have historically generated fat margins on foreign exchange fees. He says it is similar, and usually centres on the fact that customers are already using TransferWise and that if a bank wants to put those customers first it makes sense to offer TransferWise functionality within its own app.

“When we announced the large French bank, which is clearly an incumbent — a massive incumbent — they were thinking about their customer,” he says. “That maybe does feel a little bit rare for banks to think this way, but they figured that ‘if we are going to do this, then why don’t we do it properly’. They were actually fully driven by their users and thinking about how to get the best user experience”.

The TransferWise functionality will start rolling out to Monzo users as of today and will let them send money from their current accounts to 18 of the most popular currencies, with “more being added in the near future”. The user experience will be near-identical to TransferWise’s own app, and will see transfers happen at claimed ‘mid-market’ rates in addition to TransferWise’s low and transparent fee. This means you’re told upfront exactly how much you’ll pay in fees and the amount you’ll receive in the exchanged currency.

The integration is pretty deep, too. Monzo customers who don’t have an existing TransferWise account will have an account automatically created for them when they first initiate an international money transfer. If they already have a TransferWise account, they can use their existing details to authenticate with and link their account to Monzo. This means that any international money transfers made from within Monzo will also show up in your TransferWise account and the TransferWise app.

“One of the coolest things for us, other than just working with cool people, is there’s another bank in the U.K. who is transparent with their international fees,” says Käärmann. “We’re kind of getting to the place where once there is enough banks who are as transparent in their foreign fees as Monzo is then it becomes quite untenable for everyone else to keep hiding their fees and that’s very interesting. Not just for us as companies, but more generally in terms of how banking works”.

One notable dynamic to TransferWise adding another bank partner is that the fintech giant recently launched a banking product of its own. Positioned as a companion to your existing bank account, the TransferWise “Borderless” account and debit card lets you deposit, send and spend money in multiple currencies. Acting like a local country bank account, it is primarily designed to solve the specific problem of earning, receiving and spending money abroad and TransferWise says it is not intended to be a fully fledged bank replacement — at least not yet.

“We’re pretty chilled about it,” says Blomfield when I ask him if TransferWise’s tentative entry into the bank account space was in any way a concern. “Honestly, we are not competing with TransferWise. Both of us are looking at the big high street banks, as either partners or competitors. Our customers come from Barclays, Lloyds, HSBC and RBS. I think anything that increases both of our brand awareness is a really positive thing. We have 750,000 customers, which is something like 2 percent of the adult population, we’re targeting the other 98 percent who are still using the big banks. I just think there is so much headroom in this space that it would be crazy to think that we are competing with each other”.

“If we take a step back, what is the problem we are solving?” says Käärmann rhetorically. “The problem we are solving is that moving money across borders is expensive”. He then reiterates a point that TransferWise co-founder and Chairman Taavet Hinrikus has made often, which is that the company is entirely agnostic on how customers access the service. The more money moving via its infrastructure, the better, with economies of scale also meaning it has been able to lower fees on an increasing number of routes.

“For us, it doesn’t really matter if the money is in a bank account that is connected directly to TransferWise or if it is in the Borderless account,” he says. “There’s really no difference, and I know the user experience is better today if you’re banking in the U.K. with Monzo, so that’s what users should do”.

At this point I can’t resist mentioning Revolut, the digital bank startup and newly crowned unicorn that, on paper at least, competes with both TransferWise and Monzo. Revolut’s original “attack vector” (to borrow Blomfield’s phrase) was cheap foreign currency exchange coupled with a debit card for traveling. And although not yet a licensed bank, it has rolled out bank account features at a shockingly fast pace, putting it on feature parity with Monzo in a number of instances.

Rightly or wrongly, I put it to Käärmann that there is a market perception that Revolut is often the cheapest option when spending or sending money abroad, even if questions remain about how it determines prices, especially at weekends, or if the startup actually makes money on foreign exchange at all.

“When you talk about other people getting into that space, we should be happy if someone figures out how to do parts of it, some routes, better than us or faster than us or cheaper than us,” he says, somewhat diplomatically.

“I wish these things were sustainable as well. We’re super anti-subsidising, just because we think that over the long-term it doesn’t make sense to get some users paying for other users’ transfers or for some routes to pay for other routes. Progress is going to be faster if it’s clean. But, at the end of the day, if there’s a better solution, we actually endeavour to recommend that better solution. It would be nice if that better solution was also transparent and we can confidently say that they’re not just better in the next 5 minutes but that they are going to be better for the next 5 hours when you can put in your transfer. It’s only fair to the consumers — they’re not stupid — that they should go wherever is cheapest, if they need that, or somewhere that is more convenient”.

Cue Monzo’s Blomfield to caution me not to get too caught up in the London fintech echo chamber. “Most people in the U.K. have never heard of Monzo or Revolut or TransferWise,” he says, “and so our mission over the next five years is to take market share off all of the big banks, who I think are gouging their customers on things like foreign exchange. There’s so much open space in front of us because big banks just aren’t able to keep up”.


Source: TechCrunch

Star Wars Episode IX: Release date, cast, director and theories – CNET

In December 2019, J.J. Abrams will close out the Star Wars trilogy he kicked off with The Force Awakens.
Source: CNET

"Siempre hay vertederos cerca, pero no plantas de reciclaje"

El 80 % de las empresas que recicla adecuadamente obtiene un beneficio económico, según la especialista en gestión de residuos María José Balaguer. Lamenta que algunos desechos se quemen ‘sin más’, en lugar de darles una segunda vida útil, y critica el consumo excesivo de envases plásticos
Source: MIT

Para que la renta básica sea un éxito, siga el ejemplo de Canadá

El Gobierno ha lanzado un proyecto piloto de renta básica universal en una de sus ciudades. Desde que empezó, sus habitantes viven mejor y tienen más esperanza de alcanzar una vida digna. Podría ser la solución ideal a la automatización de empleos a manos de la IA, pero también tiene sus desventajas
Source: MIT

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