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Facebook finally faces GDPR lawsuit after getting shot down in Austrian court

Jun12
by on June 12, 2019 at 3:06 pm
Posted In: Around the Web


A GDPR case against Facebook, launched by Austrian privacy activist Max Schrems, has been deemed legal under EU law after the Austrian Supreme Court’s ruling, ComputerWeekly reports. Why is this a big deal? Because Facebook has been trying to block this case for five years, and winning a ruling against one of the richest companies in the world is huge news. The case dates back to 2015, when Schrems famously filed a class action lawsuit on behalf of 25,000 Facebook users. He was seeking a ‘token level’ reward of €500 per plaintiff for violations of privacy — for a total…

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Insurance firm Legal & General adopts Amazon’s blockchain for pension deals

Jun12
by on June 12, 2019 at 2:49 pm
Posted In: Around the Web, blockchain, Hard Fork


Legal & General, a multinational British insurer, has partnered with Amazon to create a blockchain system for corporate pension deals. According to Reuters, Legal & General will be using Amazon Web Services’ managed blockchain system to process bulk annuities – benefit pension schemes sold by companies to insurers in a bid to mitigate risks for policy holders. Thomas Olunloyo, CEO of Legal & General Reinsurance, said blockchain suited “the long-term nature of annuities business as it allows data and transactions to be signed, recorded and maintained in a permanent and secure nature over the lifetime of these contracts, which can span…

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9 days until the crypto industry must verify the identity of anyone sending $1,000 or more

Jun12
by on June 12, 2019 at 12:42 pm
Posted In: Around the Web, blockchain, cryptocurrency, Hard Fork


In just nine days, new rules by the Financial Action Task Force on Money Laundering (FATF) will force cryptocurrency businesses in roughly 200 countries to verify the identities of anyone sending or receiving more than $1,000 worth of digital assets, effectively nullifying their pseudonymity. A number of US-based firms have responded by exploring the viability of a “global parallel system” that would allow the world’s cryptocurrency exchanges to share data in a bid to remain compliant, Bloomberg reports. Hedge funds and investment firms that specialize in digital assets could experience trading delays and increased costs for making transactions. Industry insiders have also…

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How to instantly close all the open Safari tabs on your iPhone (and iPad)

Jun12
by on June 12, 2019 at 12:30 pm
Posted In: Around the Web, Plugged


Welcome to TNW Basics, a collection of tips, guides, and advice on how to easily get the most out of your gadgets, apps, and other stuff. I don’t know when it started, but I’m a tab fiend. My computer browser is overflowing with sites I keep open just in case, one day far into the future, I might need them. And my iPhone? Well, that’s even worse. Because so many links from chat applications automatically open in Safari, I have a ridiculous number of tabs open on my mobile. Normally, this doesn’t bother me. But every now and then I get…

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