Economy
Cryptocurrencies replacing traditional fiat currencies; wealth inequality; the economic impact of automation and the next industrial revolution—this page covers the trends and news that will influence the economies of the future.
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https://www.businessofapps.com/news/india-gambles-on-gaming-taxes-imposes-28-tax-on-mobile-games/
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Businessofapps
India has decided to impose a substantial tax on online gaming companies including app makers. The decision, announced during the 50th meeting held in New Delhi, entails treating online gaming on par with gambling, including activities like horse racing and casinos. Under the new levy, online games will be subject to a tax of 28% of their total value.
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https://news.banksocial.io/imagine-the-future-of-open-banking-91c466fa2708?gi=14b3f2068cdb
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News
A new term has emerged in the decentralized finance space — "open banking". It means instant transfer of any type of currency to another person without jumping through hoops. It means having custody of your own money while still having access to savings-account style returns. It means financing large purchases with digital assets.
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https://www.mondaq.com/Article/1344502
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Mondaq
Appleby lawyers Claire Milne and Katherine Garrood have authored the Fintech chapter for the Isle of Man as part of the 2023 update to the International Comparative Legal Guide (ICLG) to Fintech. The Guide provides a broad overview of Fintech laws and regulations in the Isle of Man as well as guidance around other topical issues including funding options for Fintech businesses in the jurisdiction, intellectual property rights and data privacy.
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https://calgaryherald.com/opinion/columnists/bell-calgary-council-talk-ucp-new-taxes
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Calgaryherald
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https://www.fintechfutures.com/2024/04/uaes-zand-bank-taps-infosys-finacle-to-bolster-its-corporate-banking-capabilities/
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Fintechfutures
The collaboration will see the Dubai-based bank leverage the Corporate Banking Solution suite of Infosys Finacle, a division of Infosys subsidiary EdgeVerve Systems, which is to be deployed via Microsoft Azure. Michael Chan, Zand's CEO, claims that the bank's adoption of the modular core banking system will enable "seamless deployment of digital assets, AI and blockchain technologies".
FUTURE TIMELINE
COUNTRY FORECASTS
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https://readwrite.com/artificial-intelligence-footprint-changing-everyday-life-as-we-know-it/
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Readwrite
Artificial Intelligence, also known as AI, has ushered in a profound metamorphosis in our realm. It has fundamentally altered numerous facets of our daily existence. AI is revolutionizing across diverse domains, including communication, healthcare, transportation, entertainment, education, and...
FUTURE TIMELINE
COUNTRY FORECASTS
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https://allafrica.com/stories/202402190124.html
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Allafrica
Nairobi — The National Treasury has urged the country's business community to actively engage in tax payments to the Kenya Revenue Authority (KRA). According to National Treasury Principal Secretary Chris Kiptoo, who spoke during a stakeholder engagement in Eldoret, tax payments by business people will in turn enable the government to provide fundamental services and also development programs.
FUTURE TIMELINE
COUNTRY FORECASTS
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https://www.bitsdujour.com/software/vsdc-pro-video-editor
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Bitsdujour
Save money by not buying a flagship editing application Experience a video editor perfect for all levels of expertise Take advantage of multiple chroma keys Create curved motion paths for video objects and animations Execute image and video transformations Import from any devices and cams, including GoPro and drones.
FUTURE TIMELINE
COUNTRY FORECASTS
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https://cryptocoin.news/news/poloniexs-resilience-in-the-face-of-security-challenges-94788/
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Cryptocoin
In the dynamic world of digital currencies, where fortunes can be made or lost in the blink of an eye, the security of digital wallets is paramount. Recently, a cloud of uncertainty descended over Poloniex, a notable player in the cryptocurrency exchange market. This concern arose from a report by the blockchain security firm Peckshield, which highlighted alarming activities involving Poloniex's wallets.
FUTURE TIMELINE
COUNTRY FORECASTS
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https://www.mckinsey.com/business-functions/people-and-organizational-performance/our-insights/great-attrition-or-great-attraction-the-choice-is-yours
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McKinsey
As the Great Resignation rages, organizations that learn why employees are quitting and respond thoughtfully will have an edge in attracting and retaining talent.
FUTURE TIMELINE
COUNTRY FORECASTS
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https://learningmole.com/circular-economy-facts-for-kids/
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Learningmole
One of the amazing ways to save the planet from climate change is circular economy. Let's learn five cool circular economy facts for kids.
Circular Economy Facts for Kids Fact Number 1: The Circular Economy Can Help Save The Planet
The economy is how we spend and make money and it impacts all...
Circular Economy Facts for Kids Fact Number 1: The Circular Economy Can Help Save The Planet
The economy is how we spend and make money and it impacts all...
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https://www.pymnts.com/news/retail/2024/returns-management-firm-loop-debuts-reverse-logistics-offerings/
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Pymnts
Returns management platform Loop has introduced new services for merchants and logistics providers. "A series of new features, integrations, and partnerships will enable logistics partners to share enriched data between Loop and merchant warehouses and allow brands to ship and move their returns more efficiently," the company said in a Monday (Feb.
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https://www.which.co.uk/news/article/natwest-group-to-close-142-bank-branches-in-2023-aNjnK5K201tP
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Which
NatWest Group has revealed a further 36 branch closures, including two in 2024. This means the group will close 142 branches in 2023 - which includes 138 NatWest and four Royal Bank of Scotland sites. Here, Which? takes a closer look at which NatWest Group branches are closing, and what it means...
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https://www.livemint.com/budget/expectations/budget-2024-pharma-industry-seeks-conducive-policies-11705224106469.html
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Livemint
In run-up to the interim Budget 2024, the pharma industry has sought conducive policies that provide benefits in terms of both direct and indirect taxes.
As the pharma industry is likely to reach $400-450 billion market size by 2047, it has also expressed a need for incentives to promote...
As the pharma industry is likely to reach $400-450 billion market size by 2047, it has also expressed a need for incentives to promote...
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https://taxfoundation.org/research/all/state/personal-property-tax-exemption-small-business/
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Taxfoundation
Key Findings
Most states taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities.
business personal property (machinery, equipment, fixtures,...
Most states taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities.
business personal property (machinery, equipment, fixtures,...
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https://www.coindesk.com/consensus-magazine/2023/12/04/paul-sztorc-scaling-bitcoin-with-sidechains/
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Coindesk
Sztorc, 34, said approvals of soft forks, which introduce new features to Bitcoin without undermining previous versions of the blockchain, are becoming less frequent these days, even though many of the proposed changes are relatively small-bore. "There is nothing controversial about any of the...
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https://www.investopedia.com/transfer-on-death-cd-taxation-5295869
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Investopedia
Certificates of deposit (CDs) are a low-risk way of putting some money aside for the short- to medium-term future and are a popular way for seniors to earn a modest return on their savings. As a result, certificates of deposit are often included in inheritance settlements, where they can be...
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https://robots.net/news/fintech-startups-weathering-the-storm-with-ai-driven-solutions/
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Robots
As the fintech industry continues to navigate through challenging times, some startups are finding success by harnessing the power of artificial intelligence (AI) to combat money laundering and fraud. These innovative companies are emerging as beacons of hope amidst the storm of uncertainty.
Key...
Key...
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https://www.cnbc.com/2024/02/15/irs-weighing-audit-selection-algorithm-changes-for-low-income-credit.html
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Cnbc
In 2022, about 23 million filers received $57 billion from the earned income tax credit, and the tax break averaged $2,541. It's a refundable credit, meaning filers can use it to claim a refund, even with zero taxes owed. However, eligibility is complicated and there's a high "improper payments rate," National Taxpayer Advocate Erin Collins wrote in her 2023 Purple Book of legislative recommendations.
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https://www.axios.com/green-energy-jobs-pay-diversity-17a6ffe1-8a16-4113-a179-f8f697e1c095.html
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Axios
They also skew older, and some lack racial diversity.
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https://en.bitcoinsistemi.com/whales-collect-eth-as-ethereum-futures-etfs-are-almost-certain-to-be-approved/
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En
In a recent development, Lookonchain reported that a significant amount of Ethereum (ETH) has been accumulated and staked by whales. One such whale, identified as "0x7838," withdrew and staked 4,288 ETH from Binance four days ago, equivalent to approximately $7.2 million. Another new wallet, "0x4b7B," followed suit, withdrawing and staking 9,530 ETH (about $16 million) from Binance.
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https://wir2018.wid.world/executive-summary.html
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World Inequality Lab