ByteDance’s founder Zhang Yiming told his staff that he is already moving away from the duties of CEO and his work pace has reduced. In May this year, he stepped down as CEO and decided to move to a key strategic position. He is analyzing the other companies’ organizational structures and managing styles while also researching the education industry. He is still the chairman and has absolute voting power at the company.
Chinese startup Pony.ai has started testing driverless vehicles in California before their plans to launch in 2022. They have been given a 39 sq mile area in Fremont and Milpitas, California to test without a safety driver. Pony.ai will need a final deployment permit which only Nuro has received so far. Pony plans to launch commercial Robotaxi services and has already gathered $1bn in funding with a number of partners.
Chinese telecommunication equipment makes Huawei aims to build driverless car tech by 2025. The transportation industry in China is going to be flooded with a ton of changes as multiple automakers and large technology firms like Baidu are working to build self-driving tech. After the new rules set in by the previous Trump administration, Huawei’s smartphone business took a beating, and now it has shifted to smart electric vehicles.
Cybersecurity researchers have discovered a scam of a free gift campaign in the name of Tata Motors. It is collecting users’ data and has been traced back to China. The gift offer has been kept attractive to lure people. On the main page, it shows the picture of Tata Safari and congratulates the users asking them to take a survey. The real IP address has been masked using Cloudflare tech. It is being hosted on a third-party domain and not the official website of Tata Motors.
Over 1,100 suspects were arrested by Chinese police for using cryptocurrencies to launder illegal money. After the recent step-up in a crackdown on cryptocurrency, police made these arrests in an attempt to weed out the use of digital currency in crimes. Over 170 criminal groups have been busted by the cops. These groups charged 1.5% to 5% for converting black money into cryptocurrency. The anonymous nature of digital currencies makes them easy to use for cross-border money laundering.
A large number of widely followed crypto-related social media accounts were blocked by the China government on Weibo, a Twitter-like local micro-blogging platform, over the weekend. The crackdown comes as China’s central bank is ramping up the testing of its own digital currency. The Chinese government wants no version of Elon Musk in the Chinese crypto market. China’s Xinhua news agency recently exposed a series of crypto-scams.
On Sunday Bitcoin faced another huge sell-off that caused it to fall 13% and overall by almost 50% since hitting the peak in April this year. Ether also faced a tough time as it dropped by 17% on the day. The Crypto market has taken a hit since Elon Musk’s tweets on Tesla not accepting cryptocurrencies as payments. Recently China imposed a ban on banks and financial firms on providing crypto-related services which further affected the crypto-market.
The cyberspace administration of China has named ByteDance’s Douyin, Microsoft Bing, LinkedIn, Kuaishou, Sogou, Baidu, and 102 other apps for violating local laws by collecting surplus data and illegally accessing users’ information. Companies have to fix the issue within 15 days or face a lawsuit, said the watchdog. Earlier the watchdog ordered security apps of Tencent Holdings and Alibaba Group Holding to stop collecting information without user consent.