Blockchain-based charity donations, gadget addiction and cybersecurity… This week has been full of fascinating news. At Ignite, digital and tech are our passion. Here is a rundown of top stories in the industry this week.
Cisco to buy Duo Security for $2.35bn
Cisco announced a plan to acquire Duo Security which provides cloud-based technology to prevent security breaches. The Duo tools check the trustworthiness of devices that access applications and it is aimed at companies with limited in-house security capabilities.
This deal will be one of the most expensive ones made by Cisco CEO, Chuck Robbins. As Bloomberg indicates, Robbins ‘has embarked on a spree of acquisitions’ as a response to the transformations in the industry; ‘as customers shift purchases toward software and services, he’s bulked in businesses like network security and programs that manage connected gadgets’.
In 2018 alone, Cisco acquired 4 companies, all of which are cloud-based and/or AI (Duo Security, July Systems, Accompany and Skyport Systems).
AIDPay starts a new era of crypto donations
UTRUST (a blockchain-based payment platform) teamed up with AIDCoin (ERC20 token) to create AIDPay. It’s an embeddable widget that allows charities to accept donations in 23 cryptocurrencies directly through their websites. These donations will be fully transparent and users will be able to see how their contributions are spent.
It’s a game-changer for charities for two reasons: all donations will be automatically converted into AIDCoin or UTRUST tokens and kept in a single wallet. It means more efficiency when processing crypto donations and no need to constantly worry about price fluctuations.
Gadget addiction and efforts to stop it
The gadget addiction is undisputable – according to Ofcom’s new report, in the UK we spend 24 hours a week online. On average, we check our phones every 12 minutes from the moment we wake up until we fall asleep. 78% of UK adults say they can’t live without their phone.
In an effort to improve our (digital) wellbeing and reduce the time we spend passively scrolling through our feeds., Facebook and Instagram released a new feature that allows you to see how much time you spend using their apps. You can also set a daily limit on browsing.
It’s not the first initiative of this kind though – iOS 12 allows you to see ‘Screen Time’ and Android introduced a similar, ‘Digital Wellbeing’ feature. Critics point out that the feature is likely to have no effect on our online behaviour because the browsing time can only be seen in settings (making it unlikely that users will actively check it).
Apple wins the $1 trillion race
Last week we wrote about the heated race to become the first public company in the US worth $1 trillion. On Thursday, Apple has officially won. They passed the $1tn mark and its share value got to $208.38 in the aftermath of the publication of the financial report for the third quarter. It revealed that sales went up by 17% and profit increased by 32% year on year, outperforming the targets.
According to Guardian, ‘Apple’s stock market value is more than a third the size of the UK economy and larger than the economies of Turkey and Switzerland’.
According to Wall Street analysts, it’s possible that the market capitalisation of Apple will go up further – even up to £1.3tn if the share value soars to $275. We have to keep in mind, however, that PetroChina who was the first public company to hit the $1 trillion in 2007, saw stock fall below the mark very quickly and it hasn’t passed the $1tn since.
What was your favourite story this week? Did we miss out on anything? Let us know in the comments.