Samsung Electronics will take part in the Bank of Korea’s simulation test study project on “central bank digital currency (CBDC).” In this test, Samsung Electronics is apparently aiming to see if CBDC works on smartphones. The Bank of Korea has put out a bid for a CBDC simulation study service provider. The project’s overall budget is 4.96 billion won. The CBDC simulation project will be operated by Ground X, a Kakao subsidiary.
Clover Infotech expects to hire over 2000 freshers this year, with half of them starting in September 2021. The hiring will take conducted throughout Mumbai, Pune, Delhi NCP, Chennai, Bengaluru, and Hyderabad campuses. In the company’s training arm, ‘Clover Academy,’ new hires will be trained in areas such as digital technology, customer experience management solutions, data analytics, cloud, enterprise business software, and so on.
Jack Dorsey of Twitter said that bitcoin will be an important part of Twitter’s future as he sees the opportunity to integrate cryptocurrency into the existing products and services of Twitter. Details have not been revealed on the implementation of this idea. Together with JayZ, Dorsey launched a $23.6 mn bitcoin fund. He also announced plans to lead Square into the decentralised financial services market using cryptocurrency.
TikTok’s Chinese owner, ByteDance, has put its initial public offering (IPO) preparations on hold indefinitely. Before listing abroad, China’s regulators cautioned the firm about data security threats. More Chinese companies, according to observers, planning to list in the United States are reconsidering their plans due to the country’s increasing data security. ByteDance is among the 13 Chinese internet firms asked by the govt to adhere to data regulation and lending practices.
Zvolv is collaborating with AWS to help mid-sized and large enterprises rapidly build smart applications. Zvolv’s low code platform is hosted on AWS will allow customers to rapidly build and deploy enterprise-grade applications with state-of-the-art performance. IDC survey says over 60% of organizations worldwide intend to use cloud-first low-code/no-code development platforms for digital innovations.
A new cybersecurity industry plan is being drafted by the Chinese Ministry of Industry and Information Technology. It’s a three-year plan aiming to build the country’s cyber-security industry, estimating the sector may be worth more than 250 billion yuan by 2023. All data-rich tech companies with 1mn+ users were asked to undergo security reviews before being listed overseas. The draft follows the case of DiDi Chuxing for alleged violation of data privacy laws.
A report by SaaSBoomi says, the Indian SaaS market has the potential to reach $1.3 tril valuation and may employ 500,000 by 2030. The revenue growth by the end of the decade could be $50-$70bn. At present, there are 1,000 SaaS startups in India with 10 unicorns employing 40,000 people. Despite the pandemic, SaaS firms managed to raise $1.5 bn last year. Investment needs to grow by 3-4x, talent by 3-6 x while unicorns need to expand by 10x.
Kaseya, whose software was exploited during the major ransomware attack, said less than 1500 small businesses have been affected by the attack. President Joe Biden has ordered a deep dive into the matter as companies across all continents were affected. Cybersecurity experts, however, suspected that the affected businesses out of Kaseya’s chain of 800,000 to 1,000,000 mostly small businesses are more than what Kaseya claimed.
Singapore-based Property Fund Trustee company Ascendas announced that it will invest about Rs 1,200 crore to develop a data center campus in India. The new data center campus will be located in Airoli and Navi Mumbai. With this new venture, the company is planning to tap into cloud service providers and large domestic enterprises. The campus will include two buildings and the first building will start operation by the year 2024.