We expect our emails and texts to send instantly. Why not our money?

Recent events such as the Robinhood-GameStop controversy and financial hardships brought on by the pandemic have cast light on a pressing underlying issue: The U.S. financial infrastructure is too slow. The snail’s pace of the system is denying consumers and businesses access to their money when they need it, with crucial tasks such as collecting a salary payment or transferring money to family members taking far too long. In a confirmation hearing earlier in March, Rohit Chopra, the newly appointed director of the Consumer Financial Protection Bureau, advocated for a “real time system” as a tool to achieve equal access. So, what’s holding us back? Of the many policy debates that arose in February when Robinhood became a household name due to the GameStop controversy, CEO Vlad Tenev cited the two-day trade settlement policy as a key reason for the slowdown of trading. While multiday settlement might be a burden for investors, the slow speed of the U.S. payments infrastructure also negatively impacts millions of consumers and businesses every day. Though payment technology companies are leading critical innovations, they continue to be bogged down by the archaic system in place. Read More …

Google’s latest Nest Hub promises to help you sleep better

Google is announcing a second edition of its Nest Hub smart screen. The most flashy upgrade? Sleep tracking. The new Nest Hub will be available for preorder on March 16 and on shelves on March 30 for $100. It will come in four colors (chalk, charcoal, a bluey mist, and a reddish sand). Among the other updates will be a new machine-learning chip, so it can better remember your various gestures and favorite commands, and a third microphone, so it can hear you shouting across the room. And it will come with support for Thread, a protocol that will one day make Nest Hub interoperable with devices from Amazon, Apple, and other smart-home players. But today’s announcement is really about sleep. The Nest Hub launched in 2018 as the Google Home Hub and was rebranded the following year . It’s tried to stand apart from competitors such as Amazon’s Echo Show and Facebook’s Portal by being ultra-useful. Its most beloved feature is that it can conjure recipes (and really any tutorial) on demand. In concert with other smart-home gadgets from Google and others, it can do all the basic things you expect from a home hub, such as control lights and show you video from your surveillance system. But Google wanted to make it even more useful. In this update, the company added its Soli motion-tracking technology to the Nest Hub, giving it the ability to read gestures. (A creation of Google’s ATAP lab , the Soli technology debuted in 2019’s Pixel 4 phone .) Users will now be able to use gestures to halt an alarm or pause music. The technology is also the basis for the Hub’s new sleep feature. [Photo: courtesy of Google] The Nest Hub has previously introduced some features to help you go to sleep and wake up, such as white noise at bedtime and an alarm that gradually nudges you awake. Now the radar-based Soli technology can follow your movement as you slumber, allowing you to track your sleep. Google product manager Ashton Udall says the Soli technology can detect big body movements and is capable of “sub-millimeter detection of movements like your chest moving in and out while you’re breathing.” Nest Hub also tracks coughing and snoring, and is equipped with a temperature gauge and an ambient light meter, so it can see how your environment changes while you sleep. The company has taken care to ensure the Nest Hub tracks only you, even if you share your bed Read More …

How youth in Senegal are using digital tools to safeguard a democracy under threat

On the evening of March 4, 2021, the day following one of the biggest series of protests in Senegal’s modern history, the African nation’s government switched off the internet. Facebook, WhatsApp, Telegram, YouTube, and other social communication channels were restricted. By shutting down one of the most important means of communication in Senegal, the government aimed to suppress the magnitude of the protests against President Macky Sall and his regime. This practice of restricting the internet and social networking channels isn’t singular to Senegal. Internet shutdown and throttling has been a long-standing practice employed by governments to prevent protests and control information spread, especially in South Asia and Africa. But in an increasingly digital world, internet access has become a human right, and governments and internet service providers shouldn’t have the ability to shut it down, especially in countries with a fragile democracy. In Senegal, where 70% of the electoral population is below the age of 40, where internet penetration is at 46% and rapidly increasing, and where a sizable part of the electorate is in the diaspora, access to the internet is necessary to uphold democratic values. As a Senegalese technologist in the diaspora, I am inspired by how the country’s young people have leveraged technology to fight for their democracy. A shaky democracy While Senegal has been touted as the last standing soldier when it comes to democracy in Africa, the country’s status as a stable democracy is increasingly in doubt Read More …

Two new bills could put a dent in technology’s ‘homework gap’

It’s only taken a year since the onset of the pandemic, but serious help is finally coming for students and their parents who haven’t had reliable internet bandwidth for distance learning. First, a bill passed in the dying days of the Trump administration will bring $50 discounts on internet access for lower-income households. Second, the Biden administration’s first major bill will let schools and libraries share connectivity beyond their own premises. Combined, they could make a sizable dent in a problem that educational advocates identified as the “homework gap” years before the coronavirus pandemic aimed a harsh spotlight at it. “The homework gap exists in rural America, urban America, and everywhere in between,” said the Federal Communications Commission’s Jessica Rosenworcel in April 2019 , almost two years before President Biden elevated her from FCC commissioner to acting FCC chair. The first phase of help arrived with the Consolidated Appropriations Act that President Trump signed on December 27. That mammoth spending bill allocated $3.2 billion for an Emergency Broadband Benefit that will bring $50 monthly discounts ($75 on tribal lands) for internet access to cash-strapped Americans. This benefit and a one-time $100 reimbursement for computer purchases will be open to far more people than the FCC’s existing Lifeline subsidies . Beneficiaries will include parents of children eligible for free or discounted school lunches, workers whose incomes plunged since last February, Pell Grant college-aid recipients, and people who already qualify for internet providers’ low-income options. The second phase arrived with the American Rescue Plan Act that Biden signed Thursday. That sets up an Emergency Connectivity Fund of $7.171 billion to pay for schools and libraries to expand their existing connectivity beyond their own properties so that nearby students, staff, and patrons can connect wirelessly. The need is there Both of these measures promise to get millions of Americans online, although the number of millions isn’t clear yet. “The agency hasn’t published any estimates on how many households could benefit,” said Paloma Perez, press secretary for Rosenworcel, in an email. Demand clearly exists. A Morning Consult poll conducted in early March found that 16% of white adults making less than $50,000 annually had missed paying an internet-service provider bill in the last year—and that the figure among Black, Latino, and other nonwhite adults was 27%. Both programs also face big challenges, judging from such earlier broadband subsidies as Lifeline —which as of January had sign-ups only from an estimated 26% of eligible households nationwide . “More people have not used Lifeline because they don’t know about it,” says Nicol Turner-Lee, director of the Center for Technology Innovation at the Brookings Institution , a centrist policy institute in Washington Read More …

Meet the CRISPR pioneers who are making gene editing easy

Henry Ford is  still best known for his 1908 Model T, an inexpensive automobile that almost anyone could own. But his real innovation was integrating the conveyor belt into assembly line production. The inspiration came from the meat packing industry. There, factory workers bled, skinned, and sliced ugly carcasses into smooth chops and filets. Ford adapted the process for cars Read More …