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Bitcoin Is A Fraud That Will Blow Up – JPMorgan Chase CEO

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The CEO of JPMorgan Chase and Co., Jamie Dimon speaking against the steadily growing cryptocurrency, Bitcoin said, “Bitcoin is a fraud that will ultimately blow up.” He added the digital currency was only fit to be used by drug dealers, murderers and people living in places such as North Korea.

In the past couple of years, the digital currency has gained a lot of traction with a five fold increase in its price since the start of 2017. Bitcoin hit a record high price, close to $ 5000 at the start of the month and has been growing steadily ever since. First created in 2009, cryptocurrency can be defined as a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. But, according to Dimon, the currency will not work because people can’t invent a currency out of thin air and think that people who are buying it are smart. The CEO also threatened to fire any of his traders found to be trading in the digital cash. The banker also revealed his daughter had bought Bitcoins which saw a rise in value.

At a New York investor conference, Dimon argued that even if there was a market for Bitcoins, which emerged in the aftermath of the financial crisis, it would be a limited market which included drug dealers, murderers and people from places like Venezuela or Ecuador or North Korea. The digital currency allows people to bypass banks and traditional payment processes to pay for goods and services but has also been associated with money laundering and online crime. The value of Bitcoin, which quadrupled since December, fell by 5% after Dimon’s remarks.

So far, China and UK have criticized Bitcoins and cryptocurrencies. The Chinese government has banned the issuance of new digital coins for fundraising purposes such as Initial Coin Offerings (ICO) and reports suggest the Chinese authorities might ban the domestic exchange of bitcoins as well. Britain’s Financial Conduct Authority, on the other hand, issued an official warning on ICOs asking investors to be aware of the risks involved and be prepared to lose their entire stake.

Market analysts agree Bitcoin has been on an incredible run and many on Wall Street have also started to embrace cryptocurrency. Bitcoin has soared 315% this year and is expected to surge up to $6 000 by next year. Bitcoin is the original cryptocurrency which was created by Craig Steven Wright from Australia. Ethereum, Ripple and Litcoin are some of the other most common cryptocurrencies available in the markets today.

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Swiggy Launches “Snacc” for 10-Minute Delivery of Snacks and Beverages

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Swiggy Launches "Snacc" for 10-Minute Delivery of Snacks and Beverages

Swiggy, the leading food delivery platform in India, has launched a new standalone app called “Snacc” to cater to the growing demand for ultra-fast food delivery. This innovative service aims to provide quick access to snacks, beverages, and light meals, enhancing the overall customer experience.

Focus on Speed and Convenience

Snacc specializes in delivering snacks and beverages within 10-15 minutes. The app operates from centralized hubs stocked with ready-to-serve items, ensuring rapid order fulfillment. This new service directly competes with other players in the 10-minute delivery space, such as Zepto Cafe and Blinkit Bistro, which have also entered the market with similar offerings.

Key Features

  • Dedicated App: Snacc operates as a separate app, providing a streamlined user experience specifically designed for quick bites.
  • Focus on Speed: The core promise of the service is a 10-15 minute delivery window, making it an attractive option for consumers seeking immediate satisfaction.
  • Centralized Hubs: Utilizing centralized hubs allows for faster order fulfillment and efficient delivery logistics.

Market Impact

The launch of Snacc reflects the increasing demand for convenient and on-demand food delivery services in India. As consumer preferences shift towards quick and accessible food options, Swiggy aims to capitalize on this trend by offering a dedicated platform for snacks and beverages.

Competitive Landscape

The introduction of Snacc comes at a time when competition in the quick food delivery market is intensifying. Other players, including Zomato and Blinkit, are also expanding their services to meet consumer demand for speedier delivery options. Zomato has recently launched its own 15-minute food delivery service in select cities, further escalating competition.

Challenges

While the 10-minute delivery model presents significant opportunities, it also poses challenges such as:

  • Maintaining Food Quality: Ensuring that food remains fresh and meets quality standards during rapid delivery.
  • Timely Delivery: Managing logistics effectively to meet the promised delivery times.
  • Operational Costs: Balancing speed with cost efficiency to maintain profitability.

Conclusion

Swiggy’s launch of Snacc marks a significant step in the evolution of the Indian food delivery market. By strategically positioning itself to cater to the evolving needs of consumers, Swiggy is set to capitalize on the growing demand for quick and convenient food options. As competition heats up in this space, Snacc aims to establish itself as a go-to solution for those seeking fast snacks and beverages, ultimately enhancing Swiggy’s overall service portfolio.

 

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Google Rolls Out QR Code Sharing for Quick Share on Android

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Google Rolls Out QR Code Sharing for Quick Share on Android

Google is enhancing file sharing on Android with the wide rollout of QR code functionality for its Quick Share feature. This update simplifies the process of transferring files between Android devices, eliminating the need for manual device discovery or contact setup.

How it Works

Effortless Sharing

With the latest Google Play Services update (version 24.49.33), users can access the “Use QR code” option within the Quick Share menu. This feature streamlines the sharing process, making it more intuitive and user-friendly.

QR Code Generation

When users select the “Use QR code” option, a unique QR code is generated on their device’s screen. This code serves as a digital key for initiating file transfers.

Quick Scanning

The recipient can easily scan the QR code using their Android phone’s camera app. Once scanned, a secure link is automatically generated, initiating the file transfer without additional steps.

Automatic Transfer

After scanning, a quickshare.google link opens on the recipient’s device, leading to an immediate connection and file transfer process.

Benefits

Simplicity

This new approach eliminates the need to add contacts, verify devices, or navigate complex settings. Users can share files with just a quick scan of a QR code.

Multiple Recipients

A single QR code can be scanned by multiple devices, allowing for convenient group sharing. This feature is particularly useful in collaborative environments where files need to be shared with several people simultaneously.

Reliability

The QR code method bypasses potential issues associated with device discovery in the standard Quick Share interface, ensuring a smoother and more reliable sharing experience.

Wider Availability

This update expands QR code sharing functionality beyond Samsung devices, making it a universal feature available for all Android users. Previously, similar functionality was primarily associated with Samsung’s own Quick Share offering.

A Familiar Feature

While new for Google’s Quick Share, many users may recognize this functionality from Samsung’s Quick Share feature, which includes additional capabilities like cloud sharing. This familiarity may ease the transition for users adapting to Google’s implementation.

Overall Impact

The addition of QR code sharing marks a significant improvement for Quick Share, enhancing its reliability and ease of use. This update aligns with Google’s December 2024 Feature Bundle, which focuses on improving Android’s versatility and user experience.

Future Potential

As QR codes become increasingly integrated into everyday tasks—from payments to information access—Google’s introduction of this feature reflects a broader trend in technology usage. The seamless integration of QR codes into file sharing not only enhances convenience but also aligns with how users are already interacting with technology.

Conclusion

With the rollout of QR code sharing in Quick Share, Google is making file transfers between Android devices faster and more efficient than ever before. By simplifying the sharing process and expanding accessibility across all Android devices, Google is enhancing user experience and reinforcing its commitment to innovation in mobile technology. This development promises to make sharing files not only easier but also more reliable in various settings, from personal to professional environments.

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Former Google CEO Eric Schmidt Invests in 3D-Printed Rocket Maker Relativity Space

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Former Google CEO Eric Schmidt Invests in 3D-Printed Rocket Maker Relativity Space

Eric Schmidt, the former CEO of Google, has made a significant investment in Relativity Space, a California-based company pioneering 3D-printed rocket technology. This investment comes at a crucial time for Relativity as it navigates challenges and aims to advance its innovative approach to space travel.

Overview of Relativity Space

Founded in 2015, Relativity Space aims to revolutionize space travel through its unique 3D printing techniques, which allow for the rapid production of rocket components. The company’s flagship rocket, Terran 1, was launched in 2023, but unfortunately, it failed to achieve orbit. Despite this setback, Relativity is now focusing on its next-generation rocket, Terran R, which is scheduled for launch in 2026.

Challenges Faced

Relativity Space has encountered several challenges over the past few years, including funding difficulties in 2024. These hurdles have prompted the company to seek additional capital to support its ambitious plans and operational needs.

Schmidt’s Investment

Schmidt’s investment is particularly timely as Relativity Space works to secure funding for the development of Terran R and its ongoing operations. His backing underscores the growing interest in the private space sector and highlights the potential of innovative technologies like 3D printing to transform space exploration.

Background on Eric Schmidt

Known for his entrepreneurial spirit and philanthropic endeavors, Schmidt has been actively involved in various investment and advisory roles since stepping down as Google CEO in 2011. He has a history of supporting technology-driven initiatives and startups, making this investment a natural extension of his interests.

Industry Context

The investment by Schmidt comes amid an intensifying modern space race, often referred to as “Space Race 2.0.” Private companies are increasingly vying for dominance in orbit, with firms like SpaceX leading the charge. In 2024, SpaceX achieved a remarkable milestone with 134 launches, showcasing rapid advancements in the industry.

Competitive Landscape

Relativity Space is positioned as a key player within this competitive landscape, despite its initial setbacks. The company’s focus on 3D printing technology offers a unique approach that could potentially lower costs and increase efficiency in rocket manufacturing compared to traditional methods.

Conclusion

Eric Schmidt’s investment in Relativity Space highlights the growing interest and potential within the private space sector, particularly regarding innovative technologies like 3D printing. As Relativity prepares for the launch of Terran R and seeks to overcome its funding challenges, Schmidt’s support may provide crucial momentum for the company’s future endeavors. This move not only reinforces Schmidt’s commitment to advancing technology but also signifies a broader trend of increased investment in space exploration initiatives that promise to reshape our understanding and capabilities in this frontier.

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