<strong>Juniper</strong> Hotels IPO: According to Zee Business Managing Editor Anil Singhvi, high-risk investors should subscribe to the IPO for the long term.

Juniper Hotels IPO: Should you subscribe or not? Check Anil Singhvi's view | Zee Business

A retail investor will need to bid for a minimum of 40 equity shares summing to Rs 14,400.

Juniper Hotels IPO opens bidding for retail investors; Read if you should invest or avoid? - Market News | The Financial Express

Mixed sentiments around <strong>Juniper</strong> Hotel’s IPO and expansion prospects

Juniper Hotels IPO: Should you subscribe to the luxury hospitality company?

Juniper

juniper

Warning: Spoilers of Season 3. If you haven’t watched Black Mirror, do it. Do it now. Camps Bay, Cape Town, South Africa. The filming location for San Junipero I am finally getting around to watching the third season of Black Mirror after previously watching the first two and fourth. The third season is plagued with extremes from social violence to romances provoked in computer simulation of what can only be described as heaven. The episode that has really gripped my attention is “San Junipero,” probably the least bleak of all episodes, and I felt inspired to write about it. Black Mirror’s Black Mirror “San Junipero,” the story of two women falling in love inside the aforementioned heaven, is likely the most controversial episode of the series. A winner of the Primetime Emmy Award for Outstanding Movie award, San Junipero tells of a romance that sprouts between Yorkie, a shy woman in her early twenties, and Kelly, an outgoing socialite and the bond that builds between them. At first, the sole focus is on the two women’s relationship with notably absent. After Yorkie and Kelly sleep together, the elements begins to reveal themselves as every week Yorkie is in a new era, snaking through the crowd to the sounds of the 80s, then the 90s, and finally the 2000s where she once again finds Yorkie. It is ultimately revealed to us that San Junipero is a computer simulation where elderly consciousnesses can exist and enjoy time as they once were. Yorkie and Kelly are on trial versions and limited to five hours in San Junipero a week, but those that “cross-over,” i.e. die, are able to spend eternity in San Junipero. Black Mirror Television technology Black Mirror Yorkie herself is a woman who’s been suffering from locked-in syndrome since 21, after driving her car off a cliff when coming out to her family ended tragically; Kelly, an elderly widow who lost her daughter and then her husband. The love between the two is real, and drama is derived from whether Kelly will pass-over to San Junipero and be with Yorkie, or die a natural death like her husband chose to do. When Yorkie needs to marry someone to approve her euthanasia, Kelly chooses to propose, though without promise of joining her in San Junipero. Ultimately, the writers chose to give Yorkie the happening ending she wanted as she and Kelly ride off into the sunset in their endless youth. This whole episode is supposed to be happy, a reprieve from the cathartic nature that most often lends itself too, but I’m left questioning what happiness lies in store for Kelly and Yorkie, and more so, for all of us as technologies like these advance. “San Junipero” isn’t a reprieve from the technologically driven dystopia of it’s the flip side that convinces us we’re happy living in such a world. in casual description is the chaos of future technology and how it will affect our current society, but digging deeper isn’t just technological commentary or dystopia, it’s an indictment on how society at large will be ill-adapted to dealing with loss of phenomena that we characterize our lives by. Black Mirror Black Mirror, Black Mirror Black Mirror By this I mean there are certain facts we take for granted, the phrase “death and taxes” comes to mind. But where excels is in its description of the post-scarcity world that’s a very possible future for us. I don’t mean post-scarcity in just the sense of food or money, but post-scarcity in all elements that drive humans to make the decisions that they do. Time, happiness, comfort, control. Black Mirror “San Junipero” is an illustration of life without scarcity of time and main question it asks is: “what do relationships mean when no longer faced with a mandatory expiration date.” The conclusion to me is more dystopian than a lot of the other episodes, a world in which long-term decisions do not matter because there’s no constraint of time. San Junipero is fake happiness. It’s perversion. It’s the bottled-up sadness of those that fear death. And yes, by “those that fear death” I mean all of us. Whether we go nowhere or face the prospect of eternity is unknown, and both are as equally terrifying. San Junipero is as real a construction as the high of an addict. One should feel free in their time in San Junipero, but instead, each character literally lives until their next “hit,” when they’re allowed their next 5 hours to play out their fantasies of a different age. “San Junipero” reminds us that cannot be truly happy if we are never sad. It is impossible for us to understand a concept without a contrasting example. If we are always the same level of happy, that is our baseline, we are no longer happy. Happiness, is a deviation from the norm. It’s a change of emotions in the positive direction. Likewise, we can never truly live, if we cannot die. Pardoxical, yes, but there’s no incentive. There’s no reason to better ourselves, and bettering ourselves is at the crux of how our relationships work. We watch Yorkie and Kelly ride off into the sunset, but they are given the princess treatment of a Disney story: we don’t see them when they have their first fight, or when Kelly cheats on Yorkie, or when they just get bored of each. In San Junipero there’s no reason to grow and evolve, there’s no purpose because there’s no ending. It’s an eternity trapped in the shell of our 21-year-old bodies without having to mentally propel ourselves past that point in maturity. There’s a reason they’re always at the club and nobody ever works. Because this hedonistic ideal of Heaven is an accurate representation of what our society will be in a post-scarcity world if we do not adapt. And that is the terror in “San Junipero.” This false-idol of what life “could be” seeps into the real world and controls the vulnerable and lonely in society. Just like a drug, the first hits of San Junipero are given out for free to entice more people to find a reprieve from the sadness and fear of real-life, with the insidious purpose of euthanizing the elderly in society when they naturally gravitate away from that fear. Instead of valuing the time they have left, the elderly in society lose any concept of value in time because it becomes unlimited. San Junipero is so scary to me because it accurately depicts how the technologies we create to help people are still regulated by our scarcity era decisions. Those presuppositions are the driving factor that creates dystopia. It’s the same dystopian breakdown of societal values that happens on , when faced with no consequences how do you grow when the prospect of breaking down into the savage nature of human desires is an option? Westworld And what of Yorkie and Kelly? Kelly makes a strong case for why she should choose death over San Junipero when talking of her husband, “Forever? Who can even make sense of forever…49 years, I was with him for 49 years. You can’t begin to imagine. You can’t know. The bond, the commitment, the boredom, the yearning, the laughter, the love of it, the fucking love, you just cannot know. Everything we sacrificed, the years I gave him, the years he gave me, did you think to ask? Did it occur to you to ask? We had a daughter, Allison, always difficult, always beautiful, died at 39 years old bless her heart, and Richard and I, we felt that heartbreak as one.” Love isn’t about the good times and happiness. Love is the commitment and boredom and the struggle that unites two people. Where will that ever exist for Yorkie and Kelly in San Junipero? “San Junipero” is subtler than most episodes. It doesn’t hit you over the head with how bad the future will be. Instead, it gives hope on first glance, the perfect ending to the hard life that Yorkie has led. But digging deeper, looking closer, is this the society we want in the future? Is this how we will lead the most fulfilling lives with the thought of uploading our consciousness unto the cloud at the moment of death? I’m not so sure. Black Mirror Image: Originally taken by Harshil Shah with a CC BY-ND 2.0 license. Use of this photo does not indicate an endorsement from its creator.

On “San Junipero” and Dystopia

Revolutionizing Product Management: The Confluence of AI, NLP and Agile Methodologies

The need for cybersecurity data loss prevention goes beyond a simple compliance checkbox in the constantly changing world of threats. It is now your first line of defense against potentially disastrous violations and the threat of impending fines from the authorities. The cybersecurity market is expected to grow to $300 billion in 2024. Protecting sensitive data and strengthening an organization's ability to withstand a successful cyberattack are the main goals of cyber hygiene. This idea is similar to personal hygiene, in which people do routinely advised behaviors like washing their hands to prevent infections and flossing to prevent cavities. Similarly, companies may maintain their digital health by continuously implementing preventative cyber hygiene practices designed to lessen the likelihood of security incidents and data breaches. Prioritizing cyber resilience and hygiene is becoming increasingly important as the digital era develops. It may have been enough in the past to use caution when sharing information and to be aware of how you use passwords. But with the increasing complexity of assaults, even seemingly insignificant weaknesses can put people, businesses, and organizations in danger. An organization's ability to withstand, respond to, and recover from cyberattacks is known as cyber resilience, and it takes center stage. Guaranteeing a strong defense against changing threats entails putting proactive defensive measures into place, raising staff knowledge, keeping patches up-to-date, encrypting data, and encouraging teamwork. 1. Recognizing Scam Patterns Understanding threat trends is essential to creating a future of cybersecurity that is more secure. Companies and organizations must understand the scope and origins of risks and their types and sources. It is critical to understand the significance of data loss and its effects on business operations, regardless of the source—unauthorized access, unintentional deletion, change, or disclosure of sensitive information in various ways, whether purposeful or unintended. Businesses need to understand tips to protect themselves from sudden attacks and recognize typical scam behaviors that endanger their data so they can take precautions against possible threats. For example, Juniper Research’s study on combating online payment fraud forecasts global losses exceeding at least $343 billion until 2027. A cohesive and proactive strategy is required to minimize cyber risks and avoid data loss. Business Email Compromise (BEC) To access a business network, many proficient cybercriminals do not rely on vulnerabilities. Phishing scams are a common way for users to be tricked into voluntarily giving up their login credentials in Business Email Compromise (BEC) attacks. Studies show that Business Email Compromise (BEC) assaults have increased significantly over the previous two years, rising by over 175% and more than 81% in the last year. Significantly, there has been a 145% increase in malicious emails targeting Small and Medium-sized Businesses (SMBs). To trick the firm, malevolent actors assume the identities of senior executives, often the CEO or CFO, in a Business Email Compromise (BEC) assault. The typical goals of these impostors are to start fraudulent financial transactions, get private information, or provide orders that appear genuine at first. The risk associated with business email compromise (BEC) attacks stems from the unusual degree of legitimacy that the perpetrators project through their communications, many of which involve the use of phony email accounts. Spear Phishing While spear phishing is a more advanced version of the classic phishing approach, phishing is still a popular tactic used by malware developers. Spear phishing is a highly targeted technique as opposed to the indiscriminate nature of generic phishing, vishing, and smishing, in which malicious actors mimic official communications from trusted entities to trick a random recipient into clicking a link, downloading an attachment, or divulging sensitive information. These communications frequently convey urgent justifications and pressure on victims to provide private information. To reach a fake website and be asked to input passwords, account numbers, PINs, and access codes, targets are encouraged to open a malicious file or click on a link. Under the pretense of wanting to access uploaded images, an attacker may ask for usernames and passwords for several services, including Facebook, while assuming the identity of a friend. Malvertising Malvertising is a tactic used by hackers to disseminate harmful advertisements by taking advantage of internet advertising networks. When users click on these dangerous advertisements, their devices may unintentionally acquire malware or ransomware. Malvertising is a tactic used by malicious actors to add a false aspect to their assaults by preying on people's trust in well-known websites. The majority of malvertising campaigns purchase ad space from reliable ad networks, guaranteeing that their malicious advertisements appear on trustworthy websites. Even though these advertisements seem innocent, they include malicious code that attacks victims as soon as the website loads their assaults. Tech Support Scam Even though tech support scams appear to be out of date, they nevertheless exist and fool many people. Cybercriminals contact people under the guise of tech support professionals and claim to have problems with their machines in this scam. They demand action quickly and frequently demand payment or remote access to the victim's device to infect it with malware or steal data. Users are especially vulnerable to this kind of danger because of the psychological manipulation and exploitation of their anxiety and lack of technical understanding. 2. Cyber Hygiene’s Best Practices To Prevent Data Loss Implement a Strong Automated Backup System To prevent major data loss or business interruption even in the event of a cyber disaster, IT managers must take a proactive approach to cyber hygiene. This entails backing up data on a regular and consistent basis to aid in recovery in the case of an attack. To protect against any data loss, it is essential to keep these backups offline and in several places. Furthermore, to patch any vulnerabilities and remain ahead of emerging threats, it is crucial to regularly upgrade all systems, software, and applications. Constant Learning and Instruction Humans continue to be the most important aspect of cybersecurity because of their mental processes, perception, hesitation, ignorance, and mood swings. This is true regardless of how strong your technology protections are. Human mistakes have long been recognized as a major cybersecurity risk and vulnerability. It is essential to prioritize ongoing security awareness education as a result. To minimize the danger of careless insider threats and to keep your staff up to date on the most recent risks, hold frequent training sessions. Use realistic phishing simulations to assess readiness and improve abilities. Multi-Factor Authentication (MFA) By requesting two or more verification methods from users to get access, MFA improves security. Preventing unwanted access is extremely successful with this method. Without the additional authentication element, fraudsters are unable to further their attempts, even if they are successful in obtaining login credentials. Implement Endpoint Security Invest in endpoint security solutions that manage and keep an eye on every endpoint to strengthen your network's defenses. Fortify the network against possible breaches by deploying powerful endpoint protection technologies that integrate machine learning and behavioral analysis to detect and stop malicious activity in real-time. Conclusion Keeping up strong cybersecurity procedures is critical in the current digital environment. Adding layers of protection against changing cyber threats requires the adoption of proactive solutions like multi-factor authentication, constant education, and strong endpoint security. To protect sensitive data and guarantee a robust and secure digital environment, people and organizations need to maintain awareness, give priority to cyber hygiene, and put in place efficient security measures. The need for cybersecurity data loss prevention goes beyond a simple compliance checkbox in the constantly changing world of threats. It is now your first line of defense against potentially disastrous violations and the threat of impending fines from the authorities. The cybersecurity market is expected to grow to $300 billion in 2024. Protecting sensitive data and strengthening an organization's ability to withstand a successful cyberattack are the main goals of cyber hygiene. This idea is similar to personal hygiene, in which people do routinely advised behaviors like washing their hands to prevent infections and flossing to prevent cavities. Similarly, companies may maintain their digital health by continuously implementing preventative cyber hygiene practices designed to lessen the likelihood of security incidents and data breaches. Prioritizing cyber resilience and hygiene is becoming increasingly important as the digital era develops. It may have been enough in the past to use caution when sharing information and to be aware of how you use passwords. But with the increasing complexity of assaults, even seemingly insignificant weaknesses can put people, businesses, and organizations in danger. An organization's ability to withstand, respond to, and recover from cyberattacks is known as cyber resilience, and it takes center stage. Guaranteeing a strong defense against changing threats entails putting proactive defensive measures into place, raising staff knowledge, keeping patches up-to-date, encrypting data, and encouraging teamwork. 1. Recognizing Scam Patterns 1. Recognizing Scam Patterns Understanding threat trends is essential to creating a future of cybersecurity that is more secure. Companies and organizations must understand the scope and origins of risks and their types and sources. It is critical to understand the significance of data loss and its effects on business operations, regardless of the source—unauthorized access, unintentional deletion, change, or disclosure of sensitive information in various ways, whether purposeful or unintended. Businesses need to understand tips to protect themselves from sudden attacks and recognize typical scam behaviors that endanger their data so they can take precautions against possible threats. to protect themselves For example, Juniper Research’s study on combating online payment fraud forecasts global losses exceeding at least $343 billion until 2027 . A cohesive and proactive strategy is required to minimize cyber risks and avoid data loss. $343 billion until 2027 Business Email Compromise (BEC) Business Email Compromise (BEC) To access a business network, many proficient cybercriminals do not rely on vulnerabilities. Phishing scams are a common way for users to be tricked into voluntarily giving up their login credentials in Business Email Compromise (BEC) attacks. Studies show that Business Email Compromise (BEC) assaults have increased significantly over the previous two years, rising by over 175% and more than 81% in the last year. Significantly, there has been a 145% increase in malicious emails targeting Small and Medium-sized Businesses (SMBs). Studies show To trick the firm, malevolent actors assume the identities of senior executives, often the CEO or CFO, in a Business Email Compromise (BEC) assault. The typical goals of these impostors are to start fraudulent financial transactions, get private information, or provide orders that appear genuine at first. The risk associated with business email compromise (BEC) attacks stems from the unusual degree of legitimacy that the perpetrators project through their communications, many of which involve the use of phony email accounts. Spear Phishing Spear Phishing While spear phishing is a more advanced version of the classic phishing approach, phishing is still a popular tactic used by malware developers. Spear phishing is a highly targeted technique as opposed to the indiscriminate nature of generic phishing, vishing, and smishing, in which malicious actors mimic official communications from trusted entities to trick a random recipient into clicking a link, downloading an attachment, or divulging sensitive information. These communications frequently convey urgent justifications and pressure on victims to provide private information. To reach a fake website and be asked to input passwords, account numbers, PINs, and access codes, targets are encouraged to open a malicious file or click on a link. Under the pretense of wanting to access uploaded images, an attacker may ask for usernames and passwords for several services, including Facebook, while assuming the identity of a friend. Malvertising Malvertising Malvertising is a tactic used by hackers to disseminate harmful advertisements by taking advantage of internet advertising networks. When users click on these dangerous advertisements, their devices may unintentionally acquire malware or ransomware. Malvertising is a tactic used by malicious actors to add a false aspect to their assaults by preying on people's trust in well-known websites. The majority of malvertising campaigns purchase ad space from reliable ad networks, guaranteeing that their malicious advertisements appear on trustworthy websites. Even though these advertisements seem innocent, they include malicious code that attacks victims as soon as the website loads their assaults. Tech Support Scam Tech Support Scam Even though tech support scams appear to be out of date, they nevertheless exist and fool many people. Cybercriminals contact people under the guise of tech support professionals and claim to have problems with their machines in this scam. They demand action quickly and frequently demand payment or remote access to the victim's device to infect it with malware or steal data. Users are especially vulnerable to this kind of danger because of the psychological manipulation and exploitation of their anxiety and lack of technical understanding. 2. Cyber Hygiene’s Best Practices To Prevent Data Loss 2. Cyber Hygiene’s Best Practices To Prevent Data Loss Implement a Strong Automated Backup System Implement a Strong Automated Backup System To prevent major data loss or business interruption even in the event of a cyber disaster, IT managers must take a proactive approach to cyber hygiene. This entails backing up data on a regular and consistent basis to aid in recovery in the case of an attack. To protect against any data loss, it is essential to keep these backups offline and in several places. Furthermore, to patch any vulnerabilities and remain ahead of emerging threats, it is crucial to regularly upgrade all systems, software, and applications. Constant Learning and Instruction Constant Learning and Instruction Humans continue to be the most important aspect of cybersecurity because of their mental processes, perception, hesitation, ignorance, and mood swings. This is true regardless of how strong your technology protections are. Human mistakes have long been recognized as a major cybersecurity risk and vulnerability. It is essential to prioritize ongoing security awareness education as a result. To minimize the danger of careless insider threats and to keep your staff up to date on the most recent risks, hold frequent training sessions. Use realistic phishing simulations to assess readiness and improve abilities. Multi-Factor Authentication (MFA) Multi-Factor Authentication (MFA) By requesting two or more verification methods from users to get access, MFA improves security. Preventing unwanted access is extremely successful with this method. Without the additional authentication element, fraudsters are unable to further their attempts, even if they are successful in obtaining login credentials. Implement Endpoint Security Invest in endpoint security solutions that manage and keep an eye on every endpoint to strengthen your network's defenses. Fortify the network against possible breaches by deploying powerful endpoint protection technologies that integrate machine learning and behavioral analysis to detect and stop malicious activity in real-time. Conclusion Conclusion Keeping up strong cybersecurity procedures is critical in the current digital environment. Adding layers of protection against changing cyber threats requires the adoption of proactive solutions like multi-factor authentication, constant education, and strong endpoint security. To protect sensitive data and guarantee a robust and secure digital environment, people and organizations need to maintain awareness, give priority to cyber hygiene, and put in place efficient security measures.

Cyber Hygiene: Recognizing Scam Trends and Protecting Against Data Breaches

Open banking is gaining momentum worldwide. Previously, traditional banks held a monopoly over financial data. Now, with consumer consent, they share information with licensed fintech providers. This results in personalized products and a simplified user experience. 2023 was a significant year for open banking. The first draft of the new PSD3 was revealed, giving a glimpse into the future regulation. It also saw several innovative integrations, such as for the first time. Apple launching open banking APIs for Apple Pay Yet what does the future hold? We look at the critical open banking trends to look forward to in 2024. Rising Adoption Open banking adoption is proliferating among businesses and consumers. A total of 9.7 million payments were made using this technology in the UK in June 2023, according to the This is 88% higher than a year ago, in June 2022. “We have seen further growth since the cut-off point for this report, with 10.8 million payments made in August 2023,” the report added. . Open Banking Impact Report This trend is likely to continue in 2024 and beyond. Consumers and companies worldwide reap the benefits of personalized products and efficient payments. , for example, predicted the total value of open banking transactions would reach $330bn by 2027. That’s from $57bn in 2023, a total growth of 479%. Juniper Research Lasma Kuhtarska, сo-founder, and Chief Strategy Officer at Noda, explained that the growth is driven by establishing a harmonized regulatory framework. “This leads to increased adoption of open banking APIs and the development of more sophisticated open banking solutions,” she added. VRP Payments Variable Recurring Payments (VRP) is another trend gaining traction in open banking. VPRs enable payments of varying amounts at routine intervals. They differ from direct debits as they utilize open banking and offer a more intuitive user experience. “This mainly benefits subscription-based services, allowing flexible payments based on usage or consumption. VRP is expected to enhance financial flexibility and control for consumers,” explained Kuhtarska. In late 2022, six of the UK’s major banks implemented VRPs for sweeping, leading to the doubling of VRP transactions within a month, according to . Open Banking UK While non-sweeping VRPs are currently less common, some banks are experimenting. In 2022, with three providers to offer VRPs as a payment option. The entire commercial implementation of non-sweeping VRPs is still in progress, and there may be new developments in 2024. NatWest partnered PSD3 & Enhanced APIs PSD3 is an amendment to the existing PSD2 and is currently in its draft stage. Enacted in 2018, PSD2 mandated European banks to share data with licensed fintech companies (with consumer consent) and therefore established open banking in Europe. PSD3 is an evolution of the existing principles of data sharing and security. The critical area of improvement is API quality.  The proposals include new requirements, minimum functionality, and measures against high latency. The regulation won’t be finalized until late 2024. Embedded Finance Embedded finance is placing a financial service into a non-financial platform or experience. Think of Amazon providing insurance services or an M&S credit card. Embedded finance is becoming more common, and this trend is set to continue in 2024. “Open banking will enable embedded finance solutions, seamlessly integrating financial services into non-financial platforms,” said Noda’s Kuhtarska. “This will create a more unified and personalized financial experience for consumers.” Machine Learning & AI 2023 will be remembered for the widespread embrace of artificial intelligence and the popularity of the AI-powered chatbot ChatGPT.  The AI momentum will likely continue in 2024 and beyond, enhancing conversational banking. “Cognitive computing and conversational banking solutions will power chatbots and intelligent virtual assistants to provide personalized financial advice, answer customer questions, and automate routine tasks,” said Kuhtarska. Machine learning and AI are expected to improve fraud detection, data analysis, customer service, and compliance within the open banking space. Final Thoughts From rising consumer adoption to AI-powered innovation, 2024 is promising exciting developments in the open banking world. Open banking solutions have the­ potential to revolutionize the­ financial services industry. Collaboration among banks, fintech, re­gulators, and other stakeholders remains critical to unlock its full potential. for a new way to accept payments online. Try Noda

Open Banking: Key Trends for 2024

ওপেন ব্যাঙ্কিং: 2024 এর মূল প্রবণতা

Open Banking: Schlüsseltrends für 2024

Banca abierta: tendencias clave para 2024

Banque ouverte : principales tendances pour 2024

ओपन बैंकिंग: 2024 के लिए प्रमुख रुझान

オープン バンキング: 2024 年の主要トレンド

오픈뱅킹: 2024년 주요 트렌드

Open Banking: Principais Tendências para 2024

Открытый банкинг: ключевые тенденции 2024 года

Açık Bankacılık: 2024'ün Temel Trendleri

Ngân hàng mở: Xu hướng chính cho năm 2024

开放银行：2024 年的主要趋势

In a rapidly evolving world towards sustainable and environmentally conscious solutions, the (EV) industry has emerged as a formidable force, promising a cleaner, greener future. At the heart of this global shift stands India, the fastest-growing economy in the world with immense potential to lead the electric mobility revolution. As a result, the demand for electric battery packs has increased substantially. electric vehicle According to a by , a Bengaluru-based corporate and commercial law firm, and , a seed-stage VC firm, India has huge potential for in manufacturing EV battery packs as the country is heavily dependent on importing 60-65% of the total component requirement for battery packs. report GameChanger Law Advisors Speciale Invest The Indian EV battery market size is expected to grow from USD 16.77 billion in 2023 to USD 27.70 billion by 2028, at a CAGR of 10.56% between 2023 and 2028, indicating that India’s EV battery industry landscape is at the cusp of a remarkable expansion. While a majority of EV Original Equipment Manufacturers (OEMs) have developed assembly facilities in-house by using imported lithium-ion cells or purchasing imported battery packs, VC-funded startups such as Ather, Ola Electric, Cosbike, and Pure EV continue to supply their battery packs to most two and three-wheeler OEMs, and this is a reflection of recent market trends. battery pack Recently, , an EV charging station aggregation platform, installed smart EV charging stations at World Trade Centre, Bengaluru. Located at the ground floor of the multi-level car parking, the dedicated area comprises four fast charging stations for cars and two-wheelers, and they are easily accessible for employees and visitors alike. Charzer The company also introduced introduced a new Whatsapp feature in October to offer hassle free charging for EV users. This new feature aims to make EV charging more accessible and user-friendly, particularly for individuals who may find mobile applications challenging to operate. Current Indian EV Market Trends The Indian EV market was valued at $.3.21 billion in 2022 and is expected to grow to $113.99 billion by 2029 at a compound annual growth rate of 66.52%. In 2022, 25% of EVs sold in India were purchased by fleet operators, including for taxis. In recent years, EV sales in India have significantly increased because it is a cleaner and more efficient alternative to gasoline-powered vehicles. With the growth of sales of EVs in India, the Indian government has set a target to achieve 30% electrification of India’s vehicle fleet by 2030. The predicts that India’s domestic EV market will witness a 49% compound annual growth rate between 2022 and 2030, and the number of EV units sold annually will touch 10 million by 2030. Economic Survey 2023 The Report outlines a set of suggestions for Indian policymakers on a host of concepts, including but not limited to Carbon Footprint Declaration (CFD), Battery Swapping Policy, Battery Passport, Second-Life Battery Policy and Safety Standards for Second-Life Batteries. Interestingly, the Report describes the Guidelines for Battery Safety Tests issued by the Ministry of Heavy Industries in November 2022 to enhance human safety and maps it with safety regulations prescribed in other jurisdictions. Charging Networks are Important for EV Adoption A Juniper Research found that fragmentation in charging networks is restricting EV adoption. study The fact that chargers have a concentration in urban areas is leading to widespread range anxiety among potential drivers. This is coupled with the difficulty of accessing charging points via different apps and cards, as well as the lack of standards for charging vehicles at the same rate. As such, EV charging networks must simplify access and work with local authorities to roll out chargers to a wider range of locations, or the EV market will struggle to accelerate. Also, recently, have made a groundbreaking discovery that could enhance the safety and efficiency of lithium-metal batteries. By preventing corrosion during the deposition of lithium, the researchers found that lithium atoms form a unique 12-sided shape, reducing the risk of explosions. This innovation could potentially revolutionize lithium battery technology, leading to improved safety and performance. innovations for UCLA researchers Rechargeable lithium-ion batteries power smartphones, electric vehicles, and storage for solar and wind energy, among other technologies. Automakers have touted plans to when they lose power, but competition for battery packs and cell materials, and the appetite for affordable cars cast doubt on this part of the circular economy. An array of startups offers second-life energy storage using old EV batteries. re-use electric vehicle batteries This article was originally published by on Navanwita Bora Sachdev The Tech Panda.

The Crucial Role of Batteries in Boosting the Growth of Electric Vehicles in India

You're likely familiar with recurring payments if you've ever joined a gym. They are charged regularly, and the billing cycle repeats until the service is canceled or paid off. estimated the value of recurring payments to be $13.2 trillion in 2023. By 2027, the group predicted the market size would surge by 17% to $15.4 trillion. Explosive growth across subscription-based business models, especially in streaming services, SaaS, and digital media, is fuelling the popularity of this payment method. Juniper Research How recurring payments work The critical advantage of recurring payments is convenience for both consumers and merchants. Once set up, they happen automatically. This ensures predictable cash flow, reduced missed payments, and customer retention. For individuals, recurring payments save time and effort. Imagine if paying for a Netflix subscription involved entering card details every month. Recurring payments can be fixed or variable. Fixed payments enable businesses to charge specific, regular amounts. It's straightforward and offers peace of mind for both merchants and clients. Variable recurring payments are more adaptable as the amount can fluctuate based on factors like consumption. Think of utility bills or mobile plans. Typically, recurring payments are executed via direct debit or card payments. Customers set up a direct debit instruction for their bank to authorize a recurring payment from a specific merchant. They can do so online, by post, or by phone. Yet there is a key disadvantage of direct debits - they are processed by BACS, which has a three-day settlement cycle. This processing schedule governs how long it takes to get paid for the first time. Recurring payments and open banking Open banking has the potential to solve this issue. It’s an innovative infrastructure where traditional banks share data with licensed fintech companies, providing consumer consent. They do so via open APIs regulated in Europe under PSD2. Open banking providers, like Noda, use the data to create better, more personalized products and simplify the payment experience. When powered by open banking, recurring payments can become faster and more efficient than direct debits. Yet, their performance currently falls short of expectations, said Nikola Tchakarov, Director of Market Expansion at Noda. “Unfortunately, currently, they work very poorly with open banking due to technological difficulties. For them to work properly, the banking infrastructure of a country must be fully digitalized, and the quality of the APIs provided must be improved — an issue which PSD3 and PSR are expected to resolve,” he said. Future of recurring payments Yet the future may change that, especially with the upcoming PSD3. In June 2023, the European Commission released the first draft of the updated open banking and payments regulation. Some key proposals are better API requirements and more access to EU payment systems for non-bank service providers. The directive will be finalized by the end of 2024. Many fintech companies, including Noda, are actively developing ways to integrate recurring payments into the open banking ecosystem. Yet, they require cooperation from traditional banks. “We need banks to improve this process on their side. We do everything we can but depend on banks,” said Tchakarov. He hopes the new regulation will encourage banks to fix the payment infrastructure for recurring payments and open banking. “This is most certainly the future trend,” he said. “Europe will not leave it unchanged. Yet banks don’t want to improve; therefore, we need a solution from the regulators.” Try a new way to accept payments online!

Recurring Payments: The Trend of the Future 

পুনরাবৃত্ত অর্থপ্রদান: ভবিষ্যতের প্রবণতা

Wiederkehrende Zahlungen: Trend der Zukunft

Pagos recurrentes: tendencia del futuro

Paiements récurrents : tendance du futur

आवर्ती भुगतान: भविष्य की प्रवृत्ति

定期的な支払い: 未来のトレンド

반복결제: 미래의 추세

Pagamentos recorrentes: tendência do futuro

Регулярные платежи: тренд будущего

Yinelenen Ödemeler: Geleceğin Trendi

Thanh toán định kỳ: Xu hướng của tương lai

定期付款：未来趋势

Scientific American Supplement, No. 365, December 30, 1882 by Various, is part of the HackerNoon Books Series. You can jump to any chapter in this book . CALIFORNIA CEDARS. here CALIFORNIA CEDARS. The incense cedar ( ) is one of the valued trees of the California coast and mountains. It is eminently noted for great rapidity of growth, wonderful lightness, stiffness, and extraordinary durability. A thousand uses have sprung up and are multiplying around this interesting cedar as its most inestimable qualities become better known. Fortunately it is one of the most extensively distributed trees of the Pacific—found from the coast range north, south to San Diego, Sierra Nevada, southern Oregon, and most of the interior mountain region from 2,000 to 4,000 feet, and it even thrives quite well at 6,600 feet altitude, but seeming to give out at 7,000 feet, though said to extend to 8,500 feet, which is questionable. As usual with the sylva, flora, and fauna, this also is found lowest along the coast, where it finds the requisite temperature and other essentials, with combined moisture. The base and lower trunk somewhat resembles the Western juniper ( ). It is to be noted in general that trees of such broad, outwardly sweeping, or expanded bases seldom blow over, and to the perceptive and artistic eye their significant character is one of firmness and stability. One hundred to two hundred feet high, six to nine feet in diameter (rarely larger) the shaft is often clear of limbs 80 to 100 feet, and although the lower limbs, or even dry branches, may encumber the middle portion, pin-knots do not damage the timber. The massive body tapers more rapidly above than redwood, and is less eccentric than juniper, yet its general port resembles most the best specimens of the latter. The light cinnamon bark is thick and of shreddy-fibered texture, but so concretely compacted as to render the surface evenly ridged by very long, big bars of bark. These sweep obliquely down on the long spiral twist of swift water lines. The top is conic, the foliage is in compressed, flattened sprays, upright, thickened, and somewhat succulent; if not a languid type, at least in no sense rigid. It bears some resemblance to the great Western arborvitæ ( ), but the tiny leaf-scales are opposite and quite awl-pointed. The general hue of the foliage is light yellowish green, warmly tinted, golden and bead tipped, with tiny, oblong male catkins, as the fruit ripens in October and November. The cones are pendulous from the tips of twigs, oblong, and seldom over three-quarters of an inch long, little more than one-third as thick, and for the most part a trifle compressed. The wood is a pale cream-tint in color—a delicate salmon shade. This would hardly warrant the name white cedar, sometimes applied to it, as well as the giant arborvitæ. The extreme lightness of the lumber and its sweetness for packing boxes will commend it for express and commercial purposes, for posts and fencing, and especially railway ties, for sleepers, stringers, and ground timbers of all varieties, and for unnumbered uses, a tithe of which cannot be told in a brief notice. Formerly these trees were cut away and burned up, to clear the track for redwood, tamarack, and ponderous pith-pines, etc.; now all else is superseded by this incense cedar. Thus is seen how hasty and ill-advised notions give place to genuine merit. Libocedius decurrens J. occidentalis Thuja gigantea A fungus ( ) attacks and honeycombs it; and riddled as it may occasionally be, still, if spike or nail finds substance enough to hold, or sufficient solidity to resist crushing, then, for many purposes, even such lumber is practically as good as the soundest timber; because when the tree dies the fungus dies, and thenceforth will absorb no more moisture than the soundest part, and is alike imperishable, contrary to common experience in similar cases. This is a timber nearly as lasting as solid granite. For ship or boat lumber, the clear stuff from sound wood is so exceedingly light, stiff, and durable, and so plenty and available, that few timbers excel it, unless the yellow cedar or cyprus ( ) is excepted, which is a little tougher, stronger, perhaps more elastic, and equally durable, if judged apart from thorough tests and careful data, which, it has been remarked, the apathy or ignorance of some governments appear to deem unworthy their sublime attention. There are said to be in California a thousand times more and better kinds of naval timbers on government lands as important to preserve as the live oaks of the South Atlantic States. It has been asserted as probable that, after due investigation, California would be found to possess a vast amount of the best naval timber in the world, a hundredfold more lasting than the best now in use, if a few woods are excepted, of which there is understood to be no very adequate supply. dædalus Cupressus nutkaensis The great Washington cedar ( ) is another important California tree. The great sequoian timber belt lies along the Sierras, upon the first exposed mountain side—moraines of recent retiring glaciers—that face the Pacific, from Calaveras on the north to near the head of Deer Creek on the south—a distance of 200 miles, or a little above 38 degrees north to a little below 36 degrees; altitude 5,000 to 8,000 feet, and rarely 8,400 feet. The belt is broken by two gaps, each 40 miles wide, caused by manifest topographical and glacial reasons, one gap between Calaveras and Tuolumne, the other between Fresno and King's River; thence the vast forest trends south, across the broad basins of Kaweah and Tule, a distance of 70 miles, on fresh moraine soil, ground from high mountain flanks by glaciers. The inscriptions are scarcely marred by post glacial agents, and the contiguous water-worn marks are often so slight in the rock-bound streams as to be measured by a few inches. Rarely does one of these sound and vigorous cedars fall, and those that do will lie 800 to 1,000 years, scarcely less perishable than the granite on which they grew. The great sequoian ditches, dug at a blow by their fall, and the tree tumuli, always turned up beside the deep root-bowls, remain; but, scientists assert, not a vestige of one outside the present forests has yet presented itself, hence the area has not been diminished during the last 8,000 or 10,000 years, and probably not at all in post glacial times. These colossal sequoias rise 275, 300, and even 400 feet aloft; are 20 to 30, and in some rare cases 40 feet in diameter, looking like vast columnar pillars of the skies. No known trees of the world compare with them and their kin, the redwoods, for the focused proximity of such a marvelous amount of timber within limited areas—as it were, the highest standard of timber-land capacity. The stage coach passes through one; 120 children and a piano crowd inside another; a trunk furnishes a house for cotillon parties to dance "stout on stumps;" a horse and rider travel within the burnt-out hollows of others, and so on. A single tree would furnish a two-rail fence, 20 to 30 miles long. The tree has great value for wood and lumber.— Sequoia gigantea N.W. Lumberman. About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Various (2006). Scientific American Supplement, No. 365, December 30, 1882. Urbana, Illinois: Project Gutenberg. Retrieved https://www.gutenberg.org/cache/epub/18763/pg18763-images.html This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at , located at . www.gutenberg.org https://www.gutenberg.org/policy/license.html

CALIFORNIA CEDARS

Scientific American Supplement, No. 711, August 17, 1889, by Various, is part of the HackerNoon Books Series. You can jump to any chapter in this book . SUCCESSION OF FOREST GROWTHS. here SUCCESSION OF FOREST GROWTHS. The following is from an address delivered by Mr. Robert Douglas before the Association of American Nurserymen at the meeting in Chicago recently. It is the prevailing and almost universal belief that when native forests are destroyed they will be replaced by other kinds, for the simple reason that the soil has been impoverished of the constituents required for the growth of that particular tree or trees. This I believe to be one of the fallacies handed down from past ages, taken for granted, and never questioned. Nowhere does the English oak grow better than where it grew when William the Conqueror found it at the time he invaded Britain. Where do you find white pines growing better than in parts of New England where this tree has grown from time immemorial? Where can you find young redwoods growing more thriftily than among their giant ancestors, nearly or quite as old as the Christian era? The question why the original growth is not reproduced can best be answered by some illustrations. When a pine forest is burned over, both trees and seeds are destroyed, and as the burned trees cannot sprout from the stump like oaks and many other trees, the land is left in a condition well suited for the germination of tree seeds, but there are no seeds to germinate. It is an open field for pioneers to enter, and the seeds which arrive there first have the right of possession. The aspen poplar ( ) has the advantage over all other trees. It is a native of all our northern forests, from the Atlantic to the Pacific. Even fires cannot eradicate it, as it grows in moist as well as dry places, and sprouts from any part of the root. It is a short-lived tree, consequently it seeds when quite young and seeds abundantly; the seeds are light, almost infinitesimal, and are carried on wings of down. Its seeds ripen in spring, and are carried to great distances at the very time when the ground is in the best condition for them. Even on the dry mountain sides in Colorado, the snows are just melting and the ground is moist where they fall. Populus tremuloides To grow this tree from seed would require the greatest skill of the nurseryman, but the burnt land is its paradise. Wherever you see it on high, dry land you may rest assured that a fire has been there. On land slides you will not find its seeds germinating, although they have been deposited there as abundantly as on the burned land. Next to the aspen and poplars comes the canoe birch, and further north the yellow birch, and such other trees as have provision for scattering their seeds. I have seen acorns and nuts germinating in clusters on burned lands in a few instances. They had evidently been buried there by animals and had escaped the fires. I have seen the red cherry ( ) coming up in great quantities where they might never have germinated had not the fires destroyed the debris which covered the seed too deeply. Prunus Pennsylvanica A careful examination around the margin of a burned forest will show the trees of surrounding kinds working in again. Thus by the time the short-lived aspens (and they are very short-lived on high land) have made a covering on the burned land, the surrounding kinds will be found re-established in the new forest, the seeds of the conifers, carried in by the winds, the berries by the birds, the nuts and acorns by the squirrels, the mixture varying more or less from the kinds which grew there before the fire. It is wonderful how far the seeds of berries are carried by birds. The waxwings and cedar birds carry seeds of our tartarean honeysuckles, purple barberries and many other kinds four miles distant, where we see them spring up on the lake shore, where these birds fly in flocks to feed on the juniper berries. It seems to be the same everywhere. I found European mountain ash trees last summer in a forest in New Hampshire; the seed must have been carried over two miles as the crow flies. While this alternation is going on in the East, and may have been going on for thousands of years, the Rocky Mountain district is not so fortunate. When a forest is burned down in that dry region, it is doubtful if coniferous trees will ever grow again, except in some localities specially favored. I have seen localities where short-lived trees were dying out and no others taking their places. Such spots will hereafter take their places above the timber line, which seems to me to be a line governed by circumstances more than by altitude or quality of soil. There are a few exceptions where pines will succeed pines in a burned-down forest. grows up near the timber line in the Rocky Mountains. This tree has persistent cones which adhere to the trees for many years. I have counted the cones of sixteen years on one of these trees, and examined burned forests of this species, where many of the cones had apparently been bedded in the earth as the trees fell. The heat had opened the cones and the seedlings were growing up in myriads; but not a conifer of any other kind could be seen as far as the fire had reached. Pinus Murrayana In the Michigan Peninsula, northern Wisconsin and Minnesota, , a comparatively worthless tree, is replacing the valuable red pine ( ), and in the Sierras and are replacing the more valuable species by the same process. P. Banksiana P. resinosa P. Murrayana P. tuberculata In this case, also, the worthless trees are the shortest lived. So we see that nature is doing all that she can to remedy the evil. Man only is reckless, and especially the American man. The Mexican will cut large limbs off his trees for fuel, but will spare the tree. Even the poor Indian, when at the starvation point, stripping the bark from the yellow pine ( ), for the mucilaginous matter being formed into sap wood, will never take a strip wider than one third the circumference of the tree, so that its growth may not be injured. P. ponderosa We often read that oaks are springing up in destroyed forests where oaks had never grown before. The writers are no doubt sincere, but they are careless. The only pine forests where oaks are not intermixed are either in land so sandy that oaks cannot be made to grow on them at all, or so far north that they are beyond their northern limit. In the Green Mountains and in the New England forests, in the pine forests in Pennsylvania, in the Adirondacks, in Wisconsin and Michigan—except in sand—I have found oaks mixed with the pines and spruces. In northwestern Minnesota and in northern Dakota the oaks are near their northern limit, but even there the burr oak drags on a bare existence among the pines and spruces. In the Black Hills, in Dakota, poor, forlorn, scrubby burr oaks are scattered through the hills among the yellow pines. In Colorado we find them as shrubs among the pines and Douglas spruces. In New Mexico we find them scattered among the piñons. In Arizona they grow like hazel bushes among the yellow pines. On the Sierra Nevada the oak region crosses the pine region, and scattering oaks reach far up into the mountains. Yet oaks will not flourish between the one hundredth meridian and the eastern base of the Sierras, owing to the aridity of the climate. I recently found oaks scattered among the redwoods on both sides of the Coast Range Mountains. Darwin has truly said, "The oaks are driving the pines to the sands." Wherever the oak is established—and we have seen that it is already established whereever it can endure the soil and climate—there it will remain and keep on advancing. The oak produces comparatively few seeds. Where it produces a hundred, the ash and maple will yield a thousand, the elm ten thousand, and many other trees a hundred thousand. The acorn has no provision for protection and transportation like many tree seeds. Many kinds are furnished with wings to float them on the water and carry them in the air. Nearly every tree seed, except the acorn, has a case to protect it while growing, either opening and casting the seeds off to a distance when ripe or falling with them to protect them till they begin to germinate. Even the equally large seeds of other kinds are protected in some way. The hickory nut has a hard shell, which shell itself is protected by a strong covering until ripe. The black walnut has both a hard shell and a fleshy covering. The acorn is the only seed I can think of which is left by nature to take care of itself. It matures without protection, falls heavily and helplessly to the ground, to be eaten and trodden on by animals, yet the few which escape and those which are trodden under are well able to compete in the race for life. While the elm and maple seeds are drying up on the surface, the hickories and the walnuts waiting to be cracked, the acorn is at work with its coat off. It drives its tap root into the earth in spite of grass, and brush, and litter. No matter if it is shaded by forest trees so that the sun cannot penetrate, it will manage to make a short stem and a few leaves the first season, enough to keep life in the root, which will drill in deeper and deeper. When age or accident removes the tree which has overshadowed it, then it will assert itself. Fires may run over the land, destroying almost everything else, the oak will be killed to the ground, but it will throw up a new shoot the next spring, the root will keep enlarging, and when the opportunity arrives it will make a vigorous growth, in proportion to the strength of the root, and throw out strong side roots, and after that care no more for its tap root, which has been its only support, than the frog cares for the tail of the tadpole after it has got on its own legs. There is no mystery about the succession of forest growths, nothing in nature is more plain and simple. We cannot but admire her wisdom, economy, and justness, compensating in another direction for any disadvantage a species may have to labor under. Every kind of tree has an interesting history in itself. Seeds with a hard shell, or with a pulpy or resinous covering which retards their germination, are often saved from becoming extinct by these means. The red cedar ( ) reaches from Florida to and beyond Cape Cod; it is among the hills of Tennessee, through the Middle States and New England. It is scattered through the Western States and Territories, at long distances apart, creeping up the Platte River, in Nebraska. (I found only three in the Black Hills, in Dakota, in an extended search for the different trees which grow there. Found only one in a long ramble in the hills at Las Vegas, New Mexico.) Yet this tree has crept across the continent, and is found here and there in a northwesterly direction between the Platte and the Pacific Coast. It is owing to the resinous coating which protects its seeds that this tree is found to-day scattered over that immense region. Juniperus Virginiana About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Various (2004). Scientific American Supplement, No. 711, August 17, 1889. Urbana, Illinois: Project Gutenberg. Retrieved https://www.gutenberg.org/cache/epub/16972/pg16972-images.html This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at , located at . www.gutenberg.org https://www.gutenberg.org/policy/license.html

SUCCESSION OF FOREST GROWTHS

The financial landscape is currently undergoing a remarkable transformation, and at the heart of this revolution are Electronic Money Institutions (EMIs). EMIs are entities that issue and manage e-money, an electronic equivalent of physical cash that can be stored and transferred digitally. EMIs offer various products and services that facilitate e-money transactions, such as virtual IBAN accounts, merchant accounts, , e-wallets, cryptocurrency services, money transfers, foreign currency exchange services, and more. payment cards This article aims to offer a comprehensive understanding of the key distinctions between EMIs and traditional banks. In doing so, it sheds light on the transformative potential that EMIs bring to the rapidly evolving financial sector. The Surge in E-Money Transactions The growth in e-money transactions is nothing short of staggering. , the number of e-money users worldwide is expected to reach 4.4 billion by 2025, . The global e-money market size was valued at $653.8 billion in 2019 registering a CAGR of 10.89% from 2020 to 2027. In 2021, Europe witnessed an astounding 7.5 billion electronic money transactions, a significant increase from just over 4 billion in 2018. According to a report by Juniper Research up from 2.5 billion in 2020, representing a growth of 80% and is projected to reach $1332.02 billion by 2027, This astonishing growth reflects the well-established trend of e-money transactions replacing traditional cash, a trend that has been accelerated by the global COVID-19 pandemic. As the pandemic pushed consumers towards contactless payments, e-money transactions saw unprecedented growth. Simultaneously, the retail e-commerce sector in Western Europe experienced remarkable growth, more than doubling from £152.2 billion in 2015 to £328.91 billion in 2022. This seismic shift has transformed the payments sector, ushering in an era of innovative competition, including challenger banks, fintech firms, and retailers, all seeking to harness the advantages of an EMI License. Defining E-Money In its essence, e-money is an electronic equivalent of physical cash. Its convenience and versatility make it a preferred mode for financial transactions. E-money can be stored as digital records with banks, loaded onto prepaid cards, and securely housed in e-wallets. E-money can be used for numerous purposes, such as: Telecommunication Services: E-Money can facilitate the purchase or transfer of mobile credits and data plans. Fund Transfers: With E-Money, users can easily send or receive funds locally or across borders. Shopping and Services: Whether online or offline, E-Money can be exchanged for goods and services or redeemed for discount vouchers. Grocery Shopping: E-Money is accepted at a multitude of grocery outlets, making purchasing everyday items simple. Convenience and Department Stores: It is possible to use E-Money to cover costs at a variety of convenience or department stores. Specialty Stores: For specific purchases like books, music, or clothing, E-Money can be used at specialty stores. Discount Stores: E-Money is also applicable for purchasing household goods, electronics, or toys at discount stores. EMIs and the EMI License Electronic Money Institutions (EMIs) play a pivotal role in issuing and managing e-money. Authorized by regulatory bodies, there are currently over 550 EMIs in Europe, with the number of EMI licenses continually increasing. The EMI license empowers institutions to issue, distribute, and redeem e-money, facilitating various e-money transactions. The European Union has been at the forefront of regulating and promoting e-money, with the E-Money Directive (EMD) being the first legal framework for e-money in the world. The EMD was adopted in 2000 and revised in 2009 to harmonize the rules and conditions for issuing e-money across the EU. The EMD defines e-money as: a digital alternative to cash, which is stored on an electronic device or remotely at a server. It allows users to make cashless payments with money stored on a card or a phone, or over the internet. The EMD also sets out the requirements for obtaining an EMI license, such as: Having an initial capital of at least €350,000. Having adequate governance arrangements, risk management processes, and internal control mechanisms. Having sound and prudent business conduct, safeguarding customer funds, and ensuring adequate IT systems. Having a clear and transparent contractual relationship with customers, providing them with adequate information and protection. Traditional Banking License Unlike the more limited EMI licenses, traditional banks are governed by a comprehensive banking license. This enables them to offer an extensive array of banking services. By virtue of this license, these institutions can manage client deposits, extend credit, provide payment-related services, issue a variety of financial products, and are obliged to comply with rigorous regulatory mandates. There are several key distinctions between a traditional banking license and an EMI license: Capital Requirement: Traditional banking licenses necessitate a significantly higher initial capital, typically no less than €5 million. Lending Products: Such licenses permit banks to offer a range of lending products, including but not limited to loans, mortgages, overdrafts, and credit cards. Regulatory Oversight: Banks with a traditional license are subject to more stringent supervision by central banks and other regulatory authorities. Deposit Guarantee Schemes: A traditional banking license also allows banks to partake in deposit guarantee schemes, providing a safety net for customers' deposits up to a specified limit. Discerning EMIs from Banks The primary divergence between Electronic Money Institutions (EMIs) and traditional banks revolves around the ability to offer lending facilities. EMIs, by mandate, are prohibited from extending any form of lending and are required to separate client funds. In contrast, traditional banks generate income chiefly through the issuance of lending products, a critical element of their business model. Such a discrepancy carries significant implications for both the financial institutions and their clientele: For EMIs: The absence of lending services necessitates them to lean on alternative revenue streams, such as transaction fees, commissions, interest margins, or cross-selling strategies. For Traditional Banks: The provision of lending services entails handling more risks and costs associated with lending activities. For Customers: This distinction necessitates a careful evaluation of the advantages and disadvantages of both options, basing their choice on individual needs and preferences. Advantages of EMIs Electronic Money Institutions (EMIs) present several unique benefits, primarily attributed to their digital-first methodology and efficient operations: By operating primarily online, EMIs can maintain lower overhead costs. These savings can then be transferred to their customers through reduced fees or favorable exchange rates. Cost Efficiency: EMIs have the capability to rapidly adapt to evolving customer needs and market changes, launching new products or features at a pace often faster than traditional banks. Agility: Leveraging advanced technology and eliminating intermediaries, EMIs can process transactions faster than their traditional counterparts. Transaction Speed: As EMIs are prohibited from lending activities and abide by the rule of segregating customer funds, they can offer a higher level of security and trust compared to traditional banks. Safety Assurance: With offerings such as multi-currency accounts, e-wallets, and cryptocurrency services, EMIs provide a greater level of choice and convenience than traditional banks. Flexibility: The Role of EMI Licensing Acquiring an EMI license is a rigorous and time-consuming process, which may not align with the timeline and needs of all organizations. Many non-regulated businesses and fintechs choose to partner with EMI-licensed entities, utilizing BIN sponsorship and program management services. BIN Sponsorship and Program Management BIN sponsorship is a service that allows non-regulated entities to access payment networks (such as Visa or Mastercard) and offer payment services without holding their own EMI license. BIN sponsors, usually EMIs or banks, provide their BINs (bank identification numbers) to other institutions and support their connections to the payment networks. By doing so, BIN sponsors take responsibility for risk management, compliance, settlement, and reporting on behalf of their partners. Program management is a service that helps non-regulated entities launch and manage their payment products, such as cards or e-wallets, by providing them with technical, operational, and regulatory support. Program managers, usually issuer processors or fintechs, enable their partners to access and use payment accounts through payment card transactions. They also handle various aspects of the payment program, such as card design, production, distribution, activation, customer service, fraud prevention, and more. Many non-regulated businesses and fintechs choose to partner with EMI-licensed entities, utilizing BIN sponsorship and program management services. This offers them several benefits, such as: Faster time-to-market: By leveraging the existing infrastructure and expertise of their partners, they can launch their payment products in a matter of weeks or months, instead of years. Lower costs: By avoiding the high initial capital and ongoing operational expenses of obtaining and maintaining an EMI license, they can reduce their costs and increase their profitability. Greater flexibility: By having more control over their product features and pricing, they can tailor their offerings to their target market and customer segments. Reduced risk: By transferring the regulatory and financial risks to their partners, they can focus on their core competencies and business growth. Some examples of successful partnerships between non-regulated entities and EMI-licensed entities are: Zilch is a London-based fintech company that offers a buy now pay later (BNPL) digital card that allows customers to shop anywhere online and split their payments into four interest-free installments over six weeks. Zilch has partnered with Mastercard since its beta launch in 2019 and has recently expanded its partnership to launch its BNPL card across Europe. Zilch: Hyperjar is a fintech company that provides a smart spending app and a prepaid debit card that help customers budget and save money. Customers can create multiple jars for different spending categories and earn rewards from partner brands such as eBay, Shell, and Skyscanner. Hyperjar uses bank-grade encryption and Mastercard network to ensure security and convenience. Hyperjar: Kasssh is a digital cash platform that allows customers to pay for online purchases with cash at physical PayPoint stores across the UK. Kasssh aims to bridge the gap between cash and e-commerce and promote financial inclusion for unbanked and underserved consumers. Kasssh is free to use and download and has exited stealth mode after testing its service with selected merchants. Kasssh: Conclusion The financial industry's evolution is profoundly represented by the emergence of Electronic Money Institutions (EMIs), marking the onset of a new era characterized by innovation and customer-focused finance. Grasping the nuanced differences between EMIs and traditional banks is crucial for businesses, policymakers, and consumers as they steer through the continually transforming financial terrain. This in-depth analysis provides a thorough examination of each aspect, establishing a solid foundation for enlightened decisions that will sculpt the future of finance. We eagerly present this analysis to the leading fintech journal, confident that it paves the way to unlock the immense potential of EMIs in shaping our financial future. References EUR-Lex - 32009L0110 - EN - EUR-Lex (europa.eu) Online share of retail trade in EU countries 2022 | Statista Zilch and Mastercard Announce Expanded Partnership HyperJar review - is it the best prepaid debit card? - Money To The Masses Kasssh launches in the UK to enable consumers to pay for online purchases in cash - FinTech Futures: Global fintech news & intelligence

Navigating the Financial Frontier: A Comprehensive Analysis of Electronic Money Institutions (EMIs) 

The IT industry is booming, and there is a high demand for skilled engineers and developers - especially in fields like DevOps, where a wide range of knowledge and vision are essential. Vasilii Angapov, one of the most renowned DevOps engineers and a respected expert in containerization and cloud technologies, shared his insights on the current trends in the industry and how to become a truly exceptional professional. Vasilii Angapov is the Senior Architect at an international IT consulting firm based in the United States. He holds the rare and highly valuable Red Hat Certified Architect certification, along with top-tier professional certifications from Amazon, Google, Microsoft, IBM, and the Linux Foundation. Q: Vasilii, you have more than 10 years of experience and unique expertise as a DevOps engineer. You started your DevOps career in the CIS, working for the consulting company GDC. What kind of projects did you work on there? A: At GDC, one of my main roles was as a system administrator and lead UNIX engineer for Mazda Logistics, which has an office in Brussels. I had to maintain a large infrastructure based on the VMware vSphere virtualization platform. I was directly responsible for more than 200 servers in several data centers, while the company had over a thousand machines running RHEL, SLES, and HP-UX operating systems. I also had to make architectural decisions and implement new software solutions, often manually. It was challenging and demanding work, sometimes requiring night shifts. I managed to simplify these processes significantly for the company by automating infrastructure management using the Puppet configuration management system. Another major project I was involved in was building an internal private cloud for Mazda Logistics based on the OpenStack platform. The company wanted to speed up application development and delivery by adopting new private cloud technologies. While deploying the private cloud with my team, I not only learned how OpenStack works, but also developed some extra features, such as Neutron SSL VPN, Neutron port-forwarding, and Ceph dashboard. These credentials enhance my marketability and drive my ongoing growth, pushing me to stay updated in the ever-evolving tech landscape. Also, I take pride in being one of only fifteen Red Hat Certified Architects in CIS countries. Q: There are few specialists in the market who have extensive knowledge of OpenStack and experience with large cloud systems based on it. How did this rare expertise affect your future career in DevOps? A: My knowledge of OpenStack was the key factor that enabled me to join Wargaming, a legendary video game developer based in Cyprus. Wargaming is the company behind the MMO game World of Tanks, which has an audience of more than 160 million people worldwide. They also needed a private cloud on OpenStack - and there were hardly any specialists with relevant experience in the market. OpenStack has a high learning curve: it is not easy to understand and master the principles of this architecture, let alone study it in depth. That is why my OpenStack certificates from Red Hat impressed the company at that time, and they entrusted me with the project. It was an ambitious project: they wanted to set up a cloud from scratch for 5,000 servers across the world, from the United States and Europe to Asia and Australia. I completed it in two years and migrated more than two-thirds of Wargaming's web services to OpenStack.The company gained a significant performance boost: one of the key product metrics, Time to Market (TTM), improved by ten times. This is the time it takes for a company's product to go from the stage of code writing to its end user in a finished form. Before I joined the company, TTM was measured in weeks and months, but after that, it was measured in hours, sometimes minutes. That is why I can proudly say that I brought unique value to the company and trained a team of 15 people as well. Q: You are not only an expert in OpenStack - you also have strong skills in virtualization and software containerization systems.  Where and how did you use this knowledge? How did it benefit the business? A: A significant stage in my career was working with Bell Integrator, a large international consulting company. Through them, I worked with the American office of Juniper Networks, which is the second largest company in the world in terms of network equipment sales, i.e., a major part of the Internet runs on Juniper Networks equipment. There I was developing software for the NFV (Network Functions Virtualization) and SDN (Software Defined Network) project - writing code in Python. NFV makes network hardware more efficient: instead of physical devices, services are delivered using virtual network functions (VNFs) that run on standard servers. Virtual resources can be allocated to users on demand, utilizing the potential of devices 100% - as a result, the company saves millions of dollars on buying network equipment, and consequently, the end user gets a cheaper service. Besides that, during my time with Juniper Networks, I learned about containerization technology. As part of my work at Bell Integrator, I also participated in creating a unique project called Neuton - a machine learning model that could make predictions based on statistical data loaded into it. At that time, the Neuton model significantly surpassed existing analogs in terms of prediction accuracy and speed. I deployed the model in public cloud services - partly in AWS, and partly in Google Cloud. Eventually, Google Corporation became interested in our model. At their request, we took part in architectural planning with the Google team. They also gave us a big discount for computing resources in their cloud. As a result, the Neuton ML platform completely migrated to the Google Cloud platform. Moving from AWS to Google was an interesting experience that allowed me to enhance my knowledge of these environments. Another aspect of the experience I gained from this project was building and testing fault-tolerant systems. My task was to make sure that the infrastructure on which Neuton was running would automatically recover within an hour if an entire region of a cloud provider went down. It was a big challenge, the infrastructure was extensive - with many virtual machines, clusters, and databases - but I managed to set it all up so that it could resume quickly after any disaster without human intervention. In the process, I gained invaluable experience in stress testing, load testing, and identifying bottlenecks in distributed systems. In the end, through careful Disaster Recovery scenarios and stress testing, my team and I were able to create a system that was not just fault-tolerant, but disaster-resistant. I also automated as many processes as possible, and the system I built essentially worked on its own. Q: What international projects are you currently working on? A: Currently, I am working as a Senior Architect for Li9, a company that provides DevOps and cloud solutions. As part of my collaboration with them, I worked with Veeva Systems, a company that creates software for the US healthcare industry. There I implemented a fault-tolerant development platform called Gitlab. My goal was to create a system that could withstand, for example, the failure of an entire region. My work significantly improved the RTO (Recovery Time Objective), which is the time it takes for a system to recover from a failure. Before I joined the project, it was about 6-10 hours, because the system had to be repaired manually in case of an emergency. The introduction of the new architecture reduced the RTO to 10 minutes - the system was restored automatically. Another indicator that shows the importance of the quality work of the architect is RPO (Recovery Point Objective), which measures how much data is lost in case of system failure and recovery. For example, in Veeva Systems, all the data for the previous half an hour of operation was lost in a breakdown. With the new system, all the data was preserved, which means that the RPO was reduced to almost zero. I also worked on a project for Expeditors, an American logistics company that is on the Fortune 500 list. They used ManageIQ, an infrastructure management platform that allowed developers to request resources and managers to estimate costs and authorizations. I was part of the team that successfully added a multi-stage approval system to it and optimized the system. Today, I have been working at a large US company Thryv Holdings Inc. for more than two years as a Senior DevOps Engineer. At Thryv, for example, I have implemented several production Kubernetes clusters in different data centers and AWS/Azure cloud services - now the company's applications are hosted in several regions. Plus, I optimized the AWS and Azure accounts themselves, saving the company hundreds of thousands of dollars a year. Millions of dollars more were saved when I migrated the company's enterprise task scheduling system from IBM Tivoli Workload Scheduler (TWS), a proprietary service, to Argo Workflows, an open-source solution. Additionally, I automated routine tasks using Ansible AWX, saving Thryv engineers valuable time. Q: You've often had to build unique systems and set up complex processes for which standard methods are suitable. Can you give us some examples of when you had to improvise and invent something new? A: At Thryv, I had the opportunity to create a unique solution: to containerize legacy applications written in one of the first programming languages - COBOL. It started to be actively used back in 1968, and since then, it has been used in 90% of financial transactions worldwide. Of course, by now this language is super outdated, and almost all the specialists who have ever worked with it retired long ago. We faced a difficult assignment. It would seem that such an old programming language as COBOL was hardly compatible with modern approaches to systems design in general and containerization technology in particular. Nevertheless, my team and I managed to get rid of outdated and extremely resource-intensive mainframes and to carry out a complete optimization. As a result, the client company saved millions of dollars with our contribution. Another illustrative example of when I had to apply non-standard approaches was in the process of customizing the functionality of the OpenStack platform. I had to enhance it in order to align the system with the needs of Wargaming. I was involved in developing various plugins, for example, I created a VPN-as-a-service plugin for OpenStack from scratch. I also made a number of modifications to the OpenStack code written in Python. I have also automated OpenStack deployment as much as possible. Previously, deploying this system was a huge headache: there was no single universally accepted way to install it, and the process turned into an agonizing quest in which every mistake was costly. However, I automated the installation and adapted the process even for people who don't know the system thoroughly. Q: How is the DevOps engineer field changing lately? What trends should colleagues keep an eye on in the coming year? A: The first and most obvious trend is the growing demand for MLOps (Machine Learning Operations) engineers. Machine learning technologies have been around for a while, but they have recently become more advanced and widely used, especially with the advent of ChatGPT technology, ML received an impetus to the popularity effect. The challenge for MLOps engineers is to automate the deployment of machine learning models on various computing platforms. This requires a deep understanding of both machine learning and DevOps, as there are not many established best practices or guidelines in this domain so far. The second trend is containerization. Containers have become the standard enterprise way of delivering applications, replacing virtual machines in most cases. Therefore, Kubernetes and containerization skills are essential for DevOps engineers. And the third trend is cloud platforms. Cloud platforms have been popular for a long time, as they offer many benefits over owning and managing servers. They allow the transformation of long-term capital expenditures to day-to-day operational expenses which is essential for startup projects. Public cloud platforms such as Amazon Web Services, Google Cloud Platform, and Microsoft Azure provide a huge number of managed services in different areas, including machine learning and containers. DevOps engineers need to be familiar with these services and how to use them effectively. Q: Becoming a successful DevOps engineer, Is it necessary to get a university education for this? What skills should a beginner learn right now? A: A university degree is not a requirement for becoming a DevOps engineer. However, the university can help you develop some soft skills that are useful in any career. For example, in the university, you can learn how to learn. So in general, I don't think higher education is worthless, but you can also pursue a career in IT without it. Instead, you should take specialized courses and keep learning new things. I do this myself every day. No one knows everything in this field: I still learn as much as I did when I started. When you stop learning, you stop being an IT person. You can't afford to be complacent, because the IT industry is evolving so fast, and you have to keep up with the latest trends. Otherwise, you might fall behind and miss the opportunities that are ahead of you. And one of the key points is troubleshooting skills. You have to find the root cause of the problem and solve it. The ability and willingness to dig deep and understand is crucial.

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