Freshly elected US president Donald Trump has exercised his usual degree of modesty and named his newly launched cryptocurrency or memecoin, $Trump. And like the man himself, the coin’s price is extraordinarily volatile. The price ran up to US$75, fell below $60, went back to $75, fell below $40, then rose back to $60 and… Read more »
Canberra has a new think tank for tech policy founded by three women to offer advice on the way forward in a digital world. The Tech Policy Design Institute (TPDi) bills itself as Australia’s first non-partisan, independent think tank focused on best practice technology policy. Its cofounders, Johanna Weaver, Zoe Jay Hawkins and Sunita Kumar, said… Read more »
Social media giant TikTok is preparing to shut down its app in the United States this Sunday – the day that legislation signed by President Joe Biden last year banning the app takes effect. There is a slim chance this dramatic development might not happen if the US Supreme Court accepts a last minute legal… Read more »
The federal government will make another $3 billion equity investment into the National Broadband Network (NBN) to national fibre-to-the node (FTTN) network as Labor and the Coalition begin campaigning ahead of an election due by May. NBN Co will contribute more than $800 million to the plan to upgrade around 622,000 homes and businesses nationally… Read more »
FinTech Australia has released its formal position on the RBA’s review of merchant card payment costs and surcharging, advocating for an approach which keeps competition high but does not place an outright ban on surcharging. The view was formed after months of consulting with the peak body’s member base of over 400 companies and commissioning… Read more »
Facebook’s parent company, Meta, has struck a $50 million deal with the Australian Information Commissioner to settle a Federal Court case over privacy breach involving the Cambridge Analytica political scandal. While it’s the second largest settlement struck by Meta over the matter, its a fraction of the US$725 million (A$1.14bn) the tech giant paid to… Read more »
Big tech companies would have to either do deals with news organisations to help fund journalism or pay a charge to the Australian government, under a new plan announced by the Albanese government on Thursday. The new plan follows the Morrison government-era system introduced in 2021 known as the news media bargaining code, which saw… Read more »
A report into the state of play for Western Australia’s startup sector has warned the state risks slipping behind its East Cost rivals unless there’s a great focus on reforms and funding for the sector. The report, ‘Dare to Venture: Startups and the innovation ecosystem in Western Australia’, by the Bankwest Curtin Economics Centre argues… Read more »
Financial institutions, fintechs, and regulators have welcomed new buy now, pay later (BNPL) rules that will finally treat the sector like other credit providers, with new legislation passed hours before shoppers tapped BNPL to propel Black Friday sales to record-breaking heights. The new regulations will apply corporate regulator ASIC’s National Credit Code (NCC) to a BNPL sector that has… Read more »
The federal government has launched a review into Australia’s research and development performance but may not live to see the result. The year-long review strategic review will be led by Robyn Denholm, chair of Telsa and the Tech Council of Australia, founder of Wollemi Capital, and operating partner at VC fund Blackbird. The review was announced… Read more »
The Victorian government will invest $150,000 each to create 50 new startups and pay their salary for the year as part of an entrepreneurship program run by Breakthrough Victoria. Treasurer and economic growth minister Tim Pallas announced a $7.5 million million investment in the Breakthrough Victoria University Innovation Platform Fellowship Program, which will establish up… Read more »
A parliamentary inquiry into generative artificial intelligence has suggested products of tech giants such as OpenAI, Amazon, Meta, and Google should treated as “high-risk” under dedicated AI laws. On Tuesday, the Senate Select Committee on Adopting Artificial Intelligence tabled a report on the “opportunities and impacts” coming from Australia’s uptake of AI. The 222-page report raised 13… Read more »
The federal government has introduced into parliament legislation for its social media ban for people under 16 years. Communications Minister Michelle Rowland said: This is about protecting young people, not punishing or isolating them, and letting parents know we’re in their corner when it comes to supporting their children’s health and wellbeing. Up until now… Read more »
Transport for New South Wales has defended the use of technology to track commuters’ devices, often without their knowledge, after privacy concerns were raised by local media. The system, which uses Wi-Fi signals to collect data from devices such as mobile phones, is being trialled on a small number of Sydney light rail services for… Read more »
Sydney quantum computing software startup Q-CTRL has been awarded $2.75 million contract by the federal government as part of a plan to deliver the defence sector additional capabilities in quantum and counter disinformation technologies. The Advanced Strategic Capabilities Accelerator’s (ASCA) Emerging and Disruptive Technologies (EDT) program has signed 21 contracts as part of an investment… Read more »
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