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The Almighty Buck

Predicting a Future Free of Dollar Bills 334

Posted by samzenpus
from the your-money-is-no-good-here dept.
An anonymous reader writes with this story about how a cashless society might work and how far-off in the future it is. "...We're not there yet, but a cashless society is not as fanciful as it seems. Recent research suggests that many believe we will stop using notes and coins altogether in the not-too-distant future. New payments technologies are rapidly transforming our lives. Today in the U.S., 66 percent of all point-of-sale transactions are done with plastic, while in the U.K. it's just under half. But while a truly cashless society is some time away yet, there is raft of groundbreaking technologies that will make cash a mere supporting act in the near future."
Android

Want To Ensure Your Personal Android Data Is Truly Wiped? Turn On Encryption 71

Posted by samzenpus
from the getting-it-clean dept.
MojoKid writes We've been around the block enough times to know that outside of shredding a storage medium, all data is recoverable. It's just matter of time, money, and effort. However, it was still sobering to find out exactly how much data security firm Avast was able to recover from Android devices it purchased from eBay, which included everything from naked selfies to even a completed loan application. Does this mean we shouldn't ever sell the old handset? Luckily, the answer is no. Avast's self-serving study was to promote its Anti-Theft app available on Google Play. The free app comes with a wipe feature that overwrites all files, thereby making them invisible to casual recovery methods. That's one approach. There's another solution that's incredibly easy and doesn't require downloading and installing anything. Before you sell your Android phone on eBay, Craigslist, or wherever, enable encryption and wait for it to encrypt the on board storage. After that, perform a wipe and reset as normal, which will obliterate the encryption key and ensure the data on your device can't be read. This may not work on certain devices, which will ask you to decrypt data before wiping but most should follow this convention just fine.
Books

The Least They Could Do: Amazon Charges 1 Cent To Meet French Free Shipping Ban 258

Posted by timothy
from the not-a-sou-more dept.
Last year, we mentioned that the French government was unhappy with Amazon for offering better prices than the French competition, and strongly limited the amount by which retailers can discount books. Last month, the French parliament also passed a law banning free delivery of books. Ars Technica reports that Amazon has responded with a one-penny shipping rate on the orders that would previously have shipped free. Says the article: This is by no means the first time France has tried to put a damper on major US tech companies dabbling in books or other reading materials. In 2011, the country updated an old law related to printed books that then allowed publishers to impose set e-book pricing on Apple and others. And in 2012, there was the very public dispute between French lawmakers and Google over the country's desire to see French media outlets paid for having their content pop up in search results. At least for now with this most recent situation, an online giant has found a relatively quick and easy way to regain the upperhand.
Government

FCC Approves Subsidy Plan to Upgrade School and Library Networks 66

Posted by timothy
from the ask-for-a-mile-in-hopes-of-an-inch dept.
The Washington Post reports that, "In a 3-2 vote along party lines Friday, the FCC greenlit a plan to spend $2 billion over the next two years on subsidies for internal networks. The move also begins a process to phase out some subsidies under the federal program, known as E-Rate, for services and equipment that are on the decline, such as pagers and dial-up Internet service." That sounds like a lot of money, and it is, but as usual in politics it's the result of a messy process: The original plan called for spending $5 billion on WiFi over five years, in line with a push by the Obama administration to bring next-gen broadband and WiFi to 99 percent of students over the same period. Those funds would have partly come from savings as a result of transitioning away from supporting legacy technologies. The proposal would also have eliminated an existing requirement that E-Rate funds be spent first on broadband services before being applied to WiFi. In past years, the cost of broadband service meant that money was rarely left over for upgrading WiFi connections. But the FCC's proposal was ultimately scaled back late Thursday amid Republican objections that the E-Rate program can't afford the changes. The final proposal's two-year, $2 billion commitment accounts for the money the FCC has already set aside for WiFi upgrades, but it does not commit the FCC to funding WiFi upgrades at that same rate for the following three years.
Bitcoin

Finnish National TV Broadcaster Starts Sending Bitcoin Blockchain 68

Posted by timothy
from the in-the-air dept.
New submitter Joel Lehtonen (3743763) writes "The Finnish national digital TV broadcaster Digita is co-operating with startup company Koodilehto to start transmission of Bitcoin blockchain and transactions in Terrestrial Digital TV (DVB-T) signal that covers almost the entire Finnish population of 5 million people. The pilot broadcasting starts September 1st and lasts two months. The broadcast can be received by a computer with any DVB-T adapter (like this $20 dongle). A commercial production phase is planned to begin later this year."
Wireless Networking

FCC Approves Plan To Spend $5B Over Next Five Years On School Wi-Fi 54

Posted by Soulskill
from the all-about-the-wireless-benjamins dept.
itwbennett writes: The Federal Communications Commission, in a 3-2 party-line vote Friday, approved a plan to revamp the 17-year-old E-Rate program, which pays for telecom services for schools and libraries, by phasing out funding for voice service, Web hosting and paging services, and redirecting money to Wi-Fi. FCC Chairman Tom Wheeler had proposed a $5 billion budget for Wi-Fi, but Republican commissioners and some lawmakers had questioned where the money would come from. Still, the E-Rate revamp (PDF) approved Friday contemplates a $1 billion-a-year target for Wi-Fi projects "year after year," Wheeler said.
Government

FTC Files Suit Against Amazon For In-App Purchases 47

Posted by samzenpus
from the a-fool-his-kids-and-his-money dept.
Charliemopps writes The Federal Trade Commission has filed suit against Amazon for illegally billing parents for in-app purchases of digital goods prior to requiring a password for making purchases. "The FTC's complaint, filed Thursday, asks the court to force Amazon to refund the money to those customers. In-app purchases typically involve virtual goods bought within an app, like extra coins or energy in a game, according to the FTC. Some bills totaled hundreds of dollars, and some virtual goods cost as much as $99.99." We recently told you about Amazon's refusal to reach a settlement over these FTC complaints.
The Almighty Buck

The Oatmeal Convinces Elon Musk To Donate $1 Million To Tesla Museum 76

Posted by timothy
from the carreon-should-donate-too dept.
Ars Technica notes (as does Oatmeal creator Matthew Inman) that Elon Musk has agreed to donate $1 million towards the restoration of Nikola Tesla's old lab as a museum, a project that Inman has been pushing for some time now. And if you happen to get there in a Tesla, you're in luck: Musk is also planning to install one of his company's superchargers in the parking lot. (At the other end of the east coast, you can visit a very different kind of Tesla museum.)
IBM

IBM To Invest $3 Billion For Semiconductor Research 66

Posted by samzenpus
from the big-bucks dept.
Taco Cowboy points out that many news outlets are reporting that IBM plans to spend $3 billion on semiconductor research and development in the next five years. The first goal is to build chips whose electronic components, called transistors, have features measuring just 7 nanometers, the company announced Wednesday. For comparison, that distance is about a thousandth the width of a human hair, a tenth the width of a virus particle, or the width of 16 potassium atoms side by side. The second goal is to choose among a range of more radical departures from today's silicon chip technology -- a monumental engineering challenge necessary to sustain progress in the computing industry. Among the options are carbon nanotubes and graphene; silicon photonics; quantum computing; brainlike architectures; and silicon substitutes that could run faster even if components aren't smaller. "In the next 10 years, we believe there will be fundamentally new systems that are much more efficient at solving problems or solving problems that are unsolvable today," T.C. Chen, IBM Research's vice president of science and technology, told CNET
The Courts

Judge Shoots Down "Bitcoin Isn't Money" Argument In Silk Road Trial 132

Posted by samzenpus
from the I-fought-the-law dept.
An anonymous reader writes in with the latest in the case against the alleged creator of the Silk Road, Ross Ulbricht. The government and legal community may still be arguing over whether bitcoin can be defined as "money." But the judge presiding over the landmark Silk Road drug case has declared that it's at least close enough to get you locked up for money laundering. In a ruling released Wednesday, Judge Katherine Forrest denied a motion by Ross Ulbricht, the 30-year-old alleged creator of the Silk Road billion-dollar online drug bazaar, to dismiss all criminal charges against him. Those charges include narcotics trafficking conspiracy, money laundering, and hacking conspiracy charges, as well as a "continuing criminal enterprise" charge that's better known as the "kingpin" statute used to prosecute criminal gang and cartel leaders.
The Military

The Pentagon's $399 Billion Plane To Nowhere 354

Posted by Soulskill
from the flights-of-fancy dept.
schwit1 writes with an update on the U.S. government's troubled F-35 program, the cost of which keeps rising while the planes themselves are grounded. A fire in late June caused officials to halt flights for the entire fleet of $112 million vehicles last week. Despite this, Congress is still anxious to push the program forward, and Foreign Policy explains why: Part of that protection comes from the jaw-dropping amounts of money at stake. The Pentagon intends to spend roughly $399 billion to develop and buy 2,443 of the planes. However, over the course of the aircrafts' lifetimes, operating costs are expected to exceed $1 trillion. Lockheed has carefully hired suppliers and subcontractors in almost every state to ensure that virtually all senators and members of Congress have a stake in keeping the program — and the jobs it has created — in place. "An upfront question with any program now is: How many congressional districts is it in?" said Thomas Christie, a former senior Pentagon acquisitions official. Counting all of its suppliers and subcontractors, parts of the program are spread out across at least 45 states. That's why there's no doubt lawmakers will continue to fund the program even though this is the third time in 17 months that the entire fleet has been grounded due to engine problems."
Networking

Alcatel-Lucent's XG-FAST Pushes 10,000Mbps Over Copper Phone Lines 149

Posted by Unknown Lamer
from the exhaust-your-uverse-cap-in-half-a-second dept.
Mark.JUK (1222360) writes The Bell Labs R&D division of telecoms giant Alcatel-Lucent has today claimed to set a new world record after they successfully pushed "ultra-broadband" speeds of 10,000 Megabits per second (Mbps) down a traditional copper telephone line using XG-FAST technology, which is an extension of G.fast (ITU G.9700).

G.fast is a hybrid-fiber technology, which is designed to deliver Internet speeds of up to 1000Mbps over runs of copper cable (up to around 250 meters via 106MHz+ radio spectrum). The idea is that a fiber optic cable is taken closer to homes and then G.fast works to deliver the last few meters of service, which saves money because the operator doesn't have to dig up your garden to lay new cables. XG-FAST works in a similar way but via an even shorter run of copper and using frequencies of up to 500MHz. For example, XG-FAST delivered its top speed of 10,000Mbps by bonding two copper lines together over just 30 meters of cable.
Math

The Billionaire Mathematician 91

Posted by Soulskill
from the not-enough-room-in-the-margin-for-all-these-benjamins dept.
An anonymous reader writes Dr. James Simons received his doctorate at the age of 23. He was breaking codes for the NSA at 26, and was put in charge of Stony Brook University's math department at 30. He received the Veblen Prize in Geometry in 1976. Today, he's a multi-billionaire, using his fortune to set up educational foundations for math and science. "His passion, however, is basic research — the risky, freewheeling type. He recently financed new telescopes in the Chilean Andes that will look for faint ripples of light from the Big Bang, the theorized birth of the universe. The afternoon of the interview, he planned to speak to Stanford physicists eager to detect the axion, a ghostly particle thought to permeate the cosmos but long stuck in theoretical limbo. Their endeavor 'could be very exciting,' he said, his mood palpable, like that of a kid in a candy store." Dr. Simons is quick to say this his persistence, more than his intelligence, is key to his success: "I wasn't the fastest guy in the world. I wouldn't have done well in an Olympiad or a math contest. But I like to ponder. And pondering things, just sort of thinking about it and thinking about it, turns out to be a pretty good approach."
Privacy

Here Comes the Panopticon: Insurance Companies 349

Posted by Soulskill
from the beware-the-all-seeing-actuaries dept.
New submitter jbmartin6 writes: The Panopticon may be coming, but perhaps not how we think. Instead of a massive government surveillance program, we might end up subjected to ubiquitous monitoring to save on our insurance premiums. The "internet of things (you can't get away from)" makes this more and more possible. Here a company saved money on its health insurance premiums by distributing Fitbits and an online service to enable reporting fitness gains back to the insurance company. We've already seen the stories on using black boxes to monitor drivers. There is even an insurance company named Panoptic! Heck, why not a premium hike for owners of this or that "aggressiveness gene"? What if in the future we got a quick "+50 cents" tweet for every scoop of ice cream? I suppose the natural stopping point might be the balance between an individual's willingness to be monitored and the desire to reduce insurance premiums.
Google

Researchers Develop New Way To Steal Passwords Using Google Glass 116

Posted by samzenpus
from the let's-see-what-you-typed-there dept.
mpicpp writes with a story about researchers who have developed a way to steal passwords using video-capturing devices.Cyber forensics experts at the University of Massachusetts in Lowell have developed a way to steal passwords entered on a smartphone or tablet using video from Google's face-mounted gadget and other video-capturing devices. The thief can be nearly ten feet away and doesn't even need to be able to read the screen — meaning glare is not an antidote. The security researchers created software that maps the shadows from fingertips typing on a tablet or smartphone. Their algorithm then converts those touch points into the actual keys they were touching, enabling the researchers to crack the passcode. They tested the algorithm on passwords entered on an Apple iPad, Google's Nexus 7 tablet, and an iPhone 5.
Businesses

Free Wi-Fi Supplier, Gowex, Files For Bankruptcy 39

Posted by samzenpus
from the creative-accounting dept.
PuceBaboon writes "The BBC is reporting that a Spanish firm, Gowex, which provides free Wi-Fi services in major cities world-wide, has filed for bankruptcy, following revelations that financial accounts filed over the past four years were "false". The company supplies services in London, Shanghai, New York and Buenos Aires, as well as Madrid. Other sources report that up to 90% of the company's reported revenue came from "undisclosed related parties" (in other words, from Gowex itself) and that the value of the company's share price was now effectively zero.
Earth

Study: Global Warming Solvable If Fossil Fuel Subsidies Given To Clean Energy 376

Posted by Unknown Lamer
from the we're-doomed dept.
An anonymous reader writes A research team at the International Institute for Applied Systems Analysis in Laxenburg, Austria, says it has studied how much it would cost for governments to stick to their worldwide global warming goal. They've concluded that for "a 70 per cent chance of keeping below 2 degrees Celsius, the investment will have to rise to $1.2 trillion a year." Where to get that money? The researchers say that "global investment in energy is already $1 trillion a year and rising" with more than half going to fossil fuel energy. If those subsidies were spent on renewable energy instead, the researchers hypothesize that "global warming would be close to being solved."
Businesses

Amazon Fighting FTC Over In-App Purchases Fine 137

Posted by Unknown Lamer
from the right-to-profit dept.
An anonymous reader writes One of the common problems of the smartphone generation has been parents who given their phones to children, who then rack up hundreds of dollars of in-app purchases without the parents' knowledge. The FTC smacked Apple with a fine for this, and Google is facing a lawsuit as well. Now, Amazon is the latest target, having received a complaint from the FTC demanding a similar settlement to Apple's. Amazon, however, is not willing to concede the fine; they plan to fight it. Amazon said, "The Commission's unwillingness to depart from the precedent it set with Apple despite our very different facts leaves us no choice but to defend our approach in court (PDF). The main claim in the draft complaint is that we failed to get customers' informed consent to in-app charges made by children and did not address that problem quickly or effectively enough in response to customer complaints. We have continually improved our experience since launch, but even at launch, when customers told us their kids had made purchases they didn't want, we refunded those purchases."
The Almighty Buck

Lessig's Mayday PAC Scrambling To Cross Crowd Funding Finish Line 117

Posted by timothy
from the latest-midnight-they-could-find dept.
First time accepted submitter SingleEntendre (1273012) writes "Time is running out for the Mayday PAC to reach its latest crowd funding goal of $5M. The total currently stands at $4.5M. Led by Harvard Law Professor Lawrence Lessig, the Mayday PAC seeks to reduce the influence of money in US politics by 2016, primarily by identifying and supporting congressional candidates who share this vision. If phase 2 is successful, with matching funds the total raised will be $12M. A self-imposed deadline arrives at of midnight tonight, July 4th, Hawaii-Aleutian Standard Time (HAST)." (And now the total's at $4,700,066.)
The Almighty Buck

Tesla Aims For $30,000 Price, 2017 Launch For Model E 245

Posted by Soulskill
from the economics-of-scale dept.
An anonymous reader writes The biggest complaint about Tesla Motors' electric vehicles is that they're far too expensive for the average motorist. The Roadster sold for $109,000, and the Model S for $70,000. Chris Porritt, the company's VP of engineering, says their next model will aim for much broader availability. The compact Model E aims to be competitive with the Audi A4 and BMW 3-series, which both start in the low $30,000 range. To reduce cost, the Model E won't be built mostly with aluminum, like the Model S, and it will be roughly 20% smaller as well. The construction of the "Gigafactory" for battery production will also go a long way toward reducing the price. Their goal for launch is sometime around late 2016 or early 2017

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