🇦🇺 Commonwealth Bank Will Begin Offering Cryptocurrency Trading in Australia

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Commonwealth Bank Will Begin Offering Cryptocurrency Trading in Australia

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The Commonwealth Bank of Australia (CBA) has announced that it will roll out crypto trading for the 6.5 million users of its CommBank app.

With this move, the CBA will become the country’s first bank to offer a platform for retail customers to trade in cryptocurrencies.

According to the announcement, the CBA has partnered with the Gemini crypto exchange and leading blockchain analysis firm Chainalysis to launch the crypto services.

The bank will start with a pilot program in the coming weeks to a few customers before rolling out the full features to more customers in 2022.

It will provide customers with access to up to ten selected crypto assets including, Bitcoin, Ethereum, Bitcoin Cash, among others.

While CBA is breaking industry ranks as it looks to match the offering from rival fintech firms, this move will put it at odds against its big three competitors that dominate the banking sector in Australia – National Australia Bank (NAB), Westpac Banking Corp (WBC), and Australia and New Zealand Banking Group Ltd (ANZ).

Nintendo Will Reportedly Make 20% Fewer Switch Consoles

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Due to the current global chip shortage, Nintendo will produce 20% fewer Switch consoles in the fiscal year through March, according to a report by Nikkei Asia.

Nintendo, the Japanese multinational consumer electronics and video game company, will reportedly only produce 24 million units of Switch consoles through March, which is 20 percent less than its original plan.

The global shortage of semiconductors and electronic parts has prevented Nintendo from keeping up with the demand for its Switches, in addition to an increased demand for the gaming console during the pandemic.

Although the company insists that the semiconductor shortage did not cause the Switch to miss out on 4K video support, the squeeze may keep it from achieving its updated projections.

The news comes as the ongoing global chip shortage has impacted production across industries, especially in the electronics and automobile sectors.

Nintendo is just one company that continues to suffer as it couldn’t obtain sufficient quantities of certain parts and had to revise its production targets.

Facebook Plans to Shut Down Its Facial Recognition System

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Meta (formerly known as Facebook) has announced that it is shutting down its facial recognition system, which automatically identifies users in photos and videos, citing growing societal concerns about the use of such technology.

Meta said that it would end its use of facial recognition technology in the coming weeks and also will delete about 1 billion faceprints that it uses for identification.

In a blog post, Jerome Pesenti, vice president of artificial intelligence at Meta, said that the social network was making the change because of “many concerns about the place of facial recognition technology in society.”

“Every new technology brings with it potential for both benefit and concern, and we want to find the right balance. In the case of facial recognition, its long-term role in society needs to be debated in the open, and among those who will be most impacted by it,” added Pesenti.

The decision of Facebook (now Meta) will bring an end to a feature that was introduced in December 2010 so that users could save time.

Walmart Acquires Conversational Design Startup Botmock

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Walmart has acquired Canada-based conversational design startup Botmock to advance its own conversational platform and offer non-technical teams like customer service access to these tools without additional coding needed. The financial terms of the deal were not disclosed.

Founded in 2016 by Obaid Ahmed, Botmock is a codeless rapid prototyping tool for conversational apps.

With its use, customers can prototype, test, and ideate their customer experience for platforms like Google Assistant, Amazon Alexa, Facebook Messenger, among other platforms.

Moreover, with Botmock, customers can also work collaboratively with their teams and stakeholders in collecting feedback in one centralized location.

The platform of Botmock does not require coding, and it uses a drag-and-drop interface that creates the code in the background as conversation flows are created.

With this platform, Walmart can offer designers, merchants, customer service, and other non-technical teams access to these tools without the need for coding.

Additionally, the tool will also allow Walmart’s customers and associates to build natural voice and chat interfaces and deploy them quickly and easily.

Around The Web

Dropbox Can Now Automatically Organize Folders: File hosting services company, Dropbox, has announced a new set of features that are designed to make it easier for you to add automation to folders, so new files are automatically renamed, grouped into subfolders, or more. Dubbed as “Automated Folders,” the company says that the new feature will help you (and any co-workers you share files with) stay organized with standardized names and tags.

E-commerce aggregator Una Brands Raises $15 Million: Una Brands, the Singapore-based e-commerce aggregator company, has raised $15 million in its Series A funding round. The funding was co-led by White Star Capital and Alpha JWC and also included participation from returning investors and Ninjavan co-founder Alvin Teo.


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