Over the course of a few days last week, we saw what was perhaps the most dramatic flame-out in the history of cryptocurrencies. Just a few weeks earlier, Terraform Labs the creators of the TerraUSD and Luna cryptocurrencies, was riding high. Luna was valued at US$86 per token on 5 May – down from the… Read more »
The price of Bitcoin has fallen to its lowest point since July last year, dipping toward the $43,000 (US$30,000) mark this week as economic fears spook the cryptocurrency and stock markets. Bitcoin came down off its all-time high of around $91,000 (US$67,000) last November and has since struggled to stabilise in an environment of growing… Read more »
With research and development investment lagging Victoria and the OECD, New South Wales is doubling down on its competitive advantages in areas like AI, quantum computing, and nanotechnology, the state’s head scientist revealed in launching the state’s new 20-year R&D strategy. The NSW 20-Year R&D Roadmap – whose creation was recommended as part of the state government’s… Read more »
Elon Musk has bought influential social media company Twitter for $61.5 billion (US$44 billion) after a month-long siege that saw Twitter on the brink of diluting its shares to keep Musk away. Current Twitter shareholders will be paid $75.80 (US$54.20) per share in an agreement that Musk has framed as a win for free speech.… Read more »
As the upcoming federal election campaign moves online, digital platforms and social media are gearing up to counter the spread of misleading information online. While politicians should play a responsible role, digital platforms also have a responsibility to take vigilant, careful action to identify and address misinformation and disinformation during the Australian election campaign, according… Read more »
The man who bought an NFT of Twitter co-founder and former CEO Jack Dorsey’s first ever tweet for nearly $4 million tried to auction it for $65 million – but the highest bid came in at less than $400. Sina Estavi, CEO of Malaysian blockchain company Bridge Oracle, famously jumped at the opportunity to buy a copy… Read more »
The government’s REDSPICE cyber security program – a $9.9 billion centrepiece to last week’s budget – has come at the cost of a $1.3 billion Sky Guardian drone project which has already set taxpayers back $10 million, senate estimates revealed on Friday. Despite the $9.9 billion headline figure championed by the Treasurer in his budget speech, a… Read more »
With petrol prices rising, are you filling up on the best day of the week? Are you subscribing to too many streaming services? And how much are you actually spending on home delivery? An emerging breed of AI-driven fintechs can tell you all of this and more – simply by looking at your account and… Read more »
Harsh economic sanctions were meant to punish Russia for its invasion of Ukraine, but there are already signs that Russia’s government and wealthy oligarchs may be using cryptocurrency to work around Western financial controls. Backed by tax havens around the world including Switzerland and Monaco, direct sanctions on Russian President Vladimir Putin and the wealthy oligarchs that support him have… Read more »
Amazon drivers and transport unionists celebrated a win against the gig economy last week after the NSW Industrial Relations Commission agreed to give Amazon Flex drivers a minimum rate of $37.80 per hour. The new rate of pay will be incrementally phased-in starting from 1 March, beginning at $27.83 and reaching the full $37.80 per… Read more »
Interest in quantum computers is taking off as governments and big business look for ways to gain a competitive edge through cutting edge technology. In this three-part series, we look at how quantum computers work, their applications, and the continued role Australian scientists and engineers play in the technology’s development. Australia led the early charge… Read more »
A married couple has been arrested in the US for allegedly possessing and trying to launder 119,754 Bitcoin, today worth $7.4 billion, that were stolen in the 2016 breach of the Bitfinex exchange. The US Justice Department arrested husband-and-wife duo Ilya Lichtenstein, 34, and Heather Morgan, 31, this week for their alleged involvement in laundering… Read more »
https://ia.acs.org.au/article/2022/government-building-national-facial-recognition-database.html
An Australian software developer has accused Australian border authorities of abusing their power to search his phone when returning home from a recent holiday. Taking to Reddit to share his experience with others, the traveller, James, says he has concerns that the Customs Act allows officers at the border to force people to hand over… Read more »
Experts are warning the Reserve Bank of Australia (RBA) needs to be extremely carefully about how it pursues a Central Bank Digital Currency (CBDC) with fears it could destabilise the economy or create a dystopian nightmare. Central banks around the world are now exploring the evolution of fiat currency through CBDCs in response to the… Read more »
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