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Tag: local

Aadhaar Paperless Local e-KYC allows offline verification of identity, limits data sharing

Aadhaar Paperless Local e-KYC allows offline verification of identity, limits data sharing

Finance
Following the Supreme Court judgement on Aadhaar and in order to address privacy concerns and limit data sharing, UIDAI has launched a 'Aadhaar Paperless Local e-KYC' method which is an offline method for identity verification wherein verification can be done without sharing biometrics or even Aadhaar number. This method also allows you to choose the Aadhaar related details you want to share for identification purposes. According to a Times of India report, government is pushing for offline tools to verify Aadhaar of a person by a method which will not require sharing of biometrics or involve UIDAI servers. According to the report, there are two ways of offline Aadhaar verification - by using QR code on the Aadhaar card and via Paperless local e-KYC. The Paperless local e-KYC involves gene...
Your local post office could become a bank if this bill passes

Your local post office could become a bank if this bill passes

Finance
Senator Kirsten Gillibrand, D-N.Y., is proposing legislation aimed at putting an end to current payday lending practices by giving some banking services a new home: the U.S. Post Office.The legislation, called the Postal Banking Act, would make retail banking services available at all U.S. Postal Service locations. That amounts to 30,000 post offices nationwide.Services would include small-dollar loans for consumers that offer low fees and low interest rates.Those transactions would compete with payday loans, a short-term advance that typically comes due with your next paycheck.The terms for payday loans are often unfavorable, said Alex Horowitz, senior research officer for the consumer finance project at Pew Charitable Trusts, an independent research organization.About 12 million individu...
Bitcoin energy use in Iceland set to overtake homes, says local firm

Bitcoin energy use in Iceland set to overtake homes, says local firm

Technology
Iceland is facing an "exponential" rise in Bitcoin mining that is gobbling up power resources, a spokesman for Icelandic energy firm HS Orka has said.This year, electricity use at Bitcoin mining data centres is likely to exceed that of all Iceland's homes, according to Johann Snorri Sigurbergsson.He said many potential customers were keen to get in on the act."If all these projects are realised, we won't have enough energy for it," he told the BBC.Mr Sigurbergsson's calculations were first reported by the Associated Press.Iceland has a small population, of around 340,000 people.But in recent years it has seen a marked increase in the number of new data centres, often built by firms wishing to tout green credentials. Nearly 100% of energy in Iceland comes from renewable sources.Bitcoin mini...
Facebook to promote local news in drive for 'trusted' content

Facebook to promote local news in drive for 'trusted' content

Technology
Facebook says it is changing the way its news delivery service works by focusing on local news sources in its drive for "high quality" content."Local news helps us understand the issues that matter in our communities," explained chief executive Mark Zuckerberg on his page on Monday.The update will initially apply to the US before it is rolled out more widely.It comes after Facebook announced that it was making posts from businesses, brands and media less prominent."Starting today, we're going to show more stories from news sources in your local town or city," Mr Zuckerberg said in his post. "If you follow a local publisher or if someone shares a local story, it may show up higher in News Feed," he added. Mr Zuckerberg said that Facebook users who are made aware of what is happening in thei...