An update on Solana’s Web3 phone, the Biden administration receiving pushback on its increasing liberalism, and yet another African country delves into the crypto space — this week is a soft precursor to a surefire Halloween frenzy. Read more below.
ByteDance Planned to Track US Users on TikTok
ByteDance, Tiktok’s parent company, used the app to monitor the specific locations of at least two US citizens’, according to a report by Forbes. Though the report did not specify the purpose of the data-gathering, TikTok and its privacy policies have been at the center of security debates. TikTok declines the allegations — ”the TikTok app does not collect precise GPS location information from US users, meaning TikTok could not monitor US users in the way the article suggested,” a TikTok spokesperson said.
A Court Halted Biden’s Student Loan Debt Cancellation Plan
While the court considers a challenge from six Republican-led states, Biden’s plan will halt, barring the administration from forgiving millions of students’ loans. The case hinges on the idea that the administration does not have the legal authority to cancel the loans and that the program would be a financial detriment. Fighting against republican efforts, White House Secretary press secretary Karine Jean-Pierre urged borrowers to “continue to move full speed ahead in our preparations in compliance with this order,” according to CNN. The appeals court gave the administration until Monday to respond.
Solana’s Wants to Rival Apple and Google With its Web3 Phone
In a ‘moon shot’ move, according to Solana founder Anatoly Yakovenko, Solana will launch a Web3-based phone, Saga, within the coming few months — with a twist. ‘Our goal isn’t to sell 10 million units,’ said Yakovenko at Disrupt 2022. ‘We would be very happy with 25,000 to 50,000 units sold in the next year.’ The phone will feature digital asset-based services, and its release is a bid to attract apt developers to the phone-building space.
Eswatini Explores Digital Version of National Currency
Eswatini’s Central Bank hired German technology consultancy, Giesecke+Devrien, to explore considerations of adopting a digital version of the Lilangeni, the country’s official currency. Joining the ranks of African countries adding a digital component to their fiat currencies, including the likes of Nigeria and Zambia, the group is helping CBE ‘formulate the foundational policy considerations and use cases of a localized CBDC,’ according to CBE Governor Dr. Phil Mnisi. Digital currencies have proven to increase access to financial services and cross-border payments for countries with emerging markets.
