(This post originally appeared on Forbes)
Here are five things in technology that happened this past week and how they affect your business. Did you miss them?
1 — Facebook announces Libra cryptocurrency – its own version of bitcoin.
This week, Facebook unveiled its new Libra cryptocurrency, which will let users make purchases or send money to people with virtually no fees—either online or at local exchange points like grocery stores. Libra customers could spend the currency using interoperable third-party wallet apps or Facebook’s Calibra wallet, which will be built into WhatsApp, Messenger, and its own app. Facebook will test the blockchain system soon and then plans a public launch in the first half of 2020. (Source: Tech Crunch)
Why this is important for your business:
This is just bitcoin for Facebook but it sends an important message: cryptocurrency is for real and has a long term future. If you’re selling on Facebook and you sense your customers prefer this type of payment then you’ll need to get on board. More importantly is that if this catches on – and I believe it will – then you’ll be seeing lots of other cryptocurrencies popping up that are backed by big companies.
2 — Report: China tariffs will see laptop, phone, and console prices rise in US.
A study commissioned by the Consumer Technology Association predicts that the impact of President Trump’s proposed tariffs of up to 25% on another $300 billion in Chinese imports will be higher prices for Americans buying electronics such as laptops, phones, and consoles. The report says that cell phones imported from China could cost 22% more, and prices for laptops could go up $120 from the national average of $622—a whopping 19%, which would cause consumers to reduce their spending on laptops and tablets by 35%. China currently accounts for 90% of total laptop/tablet imports. (Source: Techspot)
Here are five things in technology that happened this past week and how they affect your business. Did you miss them?
1 — Facebook announces Libra cryptocurrency – its own version of bitcoin.
This week, Facebook unveiled its new Libra cryptocurrency, which will let users make purchases or send money to people with virtually no fees—either online or at local exchange points like grocery stores. Libra customers could spend the currency using interoperable third-party wallet apps or Facebook’s Calibra wallet, which will be built into WhatsApp, Messenger, and its own app. Facebook will test the blockchain system soon and then plans a public launch in the first half of 2020. (Source: Tech Crunch)
Why this is important for your business:
This is just bitcoin for Facebook but it sends an important message: cryptocurrency is for real and has a long term future. If you’re selling on Facebook and you sense your customers prefer this type of payment then you’ll need to get on board. More importantly is that if this catches on – and I believe it will – then you’ll be seeing lots of other cryptocurrencies popping up that are backed by big companies.
2 — Report: China tariffs will see laptop, phone, and console prices rise in US.
A study commissioned by the Consumer Technology Association predicts that the impact of President Trump’s proposed tariffs of up to 25% on another $300 billion in Chinese imports will be higher prices for Americans buying electronics such as laptops, phones, and consoles. The report says that cell phones imported from China could cost 22% more, and prices for laptops could go up $120 from the national average of $622—a whopping 19%, which would cause consumers to reduce their spending on laptops and tablets by 35%. China currently accounts for 90% of total laptop/tablet imports. (Source: Techspot)
Why this is important for your business:
These price increases haven’t happened yet and they may not happen at all if the President and Chinese President Xi come to an agreement at this week’s G-20 meeting. If this doesn’t happen then it would make sense for you to make your hardware buys sooner rather than later. Added bonus: there may be a potential accelerated depreciation tax deduction for you as well.
3 — Apple will release two iPhones with 5G in 2020, a top analyst says
Analyst Ming Chi Kuo of TF International Securities reported this week that Apple is getting ready to launch three new iPhones next year, including two with 5G support provided by Qualcomm. The new iPhone models will be available in 6.7-inch, 6.1-inch, and 5.4-inch screen sizes, respectively, and all three will have OLED screens, which are more colorful than LCD panels. (Source: CNBC)
Why this is important for your business:
If your employees are using iPhones my recommendation is to wait until these new 5G versions come out before upgrading. The speed will make a tremendous difference, plus future applications will be built for 5G and not having these devices will limit users.
4 — A small business security management platform brings in $12 million of funding.
This week, Aptible—which provides secure, compliant infrastructure hosting—closed a $12 million deal for Series A funding led that it will use to launch its new security management platform called Aptible Comply. (Source: Globe Newswire)
Why this is important for your business:
The platform helps small businesses and other companies to automate security and compliance workflows for common regulations and security frameworks such as ISO 27001, SOC 2, HIPAA, and GDPR. The company says Aptible Comply will be delivered as software-as-a-service so it’s easy to implement.
5— American Airlines offers satellite WiFi to its entire mainline fleet.
Business travelers will no longer have to struggle for a good WiFi connection if they book on American. This week, the airline announced it has finished deploying satellite WiFi to its entire mainline fleet of 700+ aircraft that fly domestically. Depending on the destination, travelers will have either Gogo 2Ku or ViaSat Ka connections, which provide faster, more consistent WiFi than the current ground solutions. American also plans to install power outlets in every seat for its mainline and two-class regional fleets, and it will offer tablet holders on most of its narrowbody airplanes. (Source: engadget)
Why this is important for your business:
As an American flyer I’ve struggled for many years with Gogo’s inconsistent service and it’s all but driven me off the Internet when flying. Now, I may have reason to jump back on. Maybe you do too.
