Bitcoin hit close to $40,000, a two-week high, on Monday. This is after Tesla CEO Elon Musk while defending criticism over his influence on the market, said the carmaker may resume transactions using digital currency. “When there’s confirmation of reasonable (~50%) clean energy usage by miners with the positive future trend, Tesla will resume allowing Bitcoin transactions,” Musk Tweeted. Bitcoin rose 33% this year but went south from a record peak of above $60,000.
The govt of India has said there has been no data breach into its email system run by the NIC and the email system is “totally safe and secure.” The statement released by the Union IT ministry further said that cybersecurity breaches on private portals may not impact govt employees unless the users have used their govt email ID and password to register on these portals. Data breaches in Air India, BigBasket, and Domino’s had exposed the email passwords of NIC to hackers.
Honeywell announces partnership with DRDO and the Government of India to supply molecular sieve adsorbents to accelerate the setting up of Medical Oxygen Plants in the country. Honeywell said it has been a strong partner with both state-owned and private Indian firms. “We are committed to helping India address the pandemic and is making every effort to find meaningful ways to engage with the GoI in the fight to save lives,” said Dr. Akshay Bellare, President, Honeywell India.
WhatsApp has filed a lawsuit against the Indian government for new regulations that permit authorities to make users’ private messages “traceable” and conduct mass surveillance. WhatsApp said the new regulations violate Indians’ constitutional rights. The new rules require social media companies to appoint officials to handle on-ground issues and give higher authorities access to delete any post considered offensive.
The govt will announce Production Linked Incentive scheme for manufacturing of wearables, drones, VR/ AR and IoT products in India this year. At present, there is a demand for 2-3 bn IoT devices, which is expected to increase to 5 bn over the next two-three years. It is the government’s new initiative to boost manufacturing after the Rs 50,000-cr package to attract smartphone and component manufacturing firms to set up base here.
The govt is working on amending the IT rules for intermediaries like Facebook, Google to make them more responsive and accountable for the content uploaded on their platforms; rules are currently being finalised. Section 79(1) of the ITA 2020, grants intermediaries a conditional immunity with regard to the third-party content. The intermediaries, relatable to Article 19(2) of the Indian Constitution, are expected to disable any unlawful content.
The GOI is mulling a law that’d ban cryptocurrencies’ usage in India. Reportedly, the finance ministry has already initiated inter-ministerial consultations. Cryptocurrency usage in India, during the lockdown, rose 10X for local exchangers whereas 545% for global ones; new users rose a humongous 4100%. In 2018, RBI prohibited financial institutions from providing cryptocurrency-related services as it lacked govt stamp. It was changed in March this year.
MeitY may form a set of guidelines to regulate apps’ operations. The new set of guidelines is for firms from neighbouring countries with shared Indian border. One such instruction is to store data within India. Hence, to operate in India, Chinese firms will be compelled to meet strict govt. guidelines right from the start. Also, telecom operators will have to compulsorily store data locally for 3 months. This will enable supervision on anti-national activities.
The Indian government, after banning 59 Chinese apps late last month, has now barred 47 more apps accounting the total number of banned apps to 106. The apps being banned this time were a clone of the previously banned apps like TikTok and Cam Scanner. The full list is yet to be announced. Government is scrutinising 250 more apps including PUBG Mobile, Ali Express, Capcut, Resso, MeiTufor for anti-India activity and breaching user privacy.