Dropbox files for public stock offering of $500 mln

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Dropbox files for public stock offering of $500 mln

Tech February 24, 2018 09:21

By Agence France-Presse
San Francisco

2,066 Viewed

Dropbox filed Friday for an initial public offering, seeking to raise an estimated $500 million for the Silicon Valley cloud storage startup.

The San Francisco company claimed 500 million users in 180 countries and $1 billion in annual revenues in documents filed with the Securities and Exchange Commission.

The valuation based on recent private investment in the group stands at around $10 billion, making Dropbox one of the biggest Silicon Valley venture-backed startups.

Storing digital data from music and films to documents, presentations and images has become big business with the lifestyle shift to accessing content and services online from a cornucopia of internet-linked devices.

Dropbox woos users with a free version of its online file-storing service, then entices with premium features to upgrade to paid subscriptions.

While there were more than 500 million registered Dropbox users at the end of last year, only 11 million of them were paying subscribers, the firm said in the regulatory filing.

“A majority of our registered users may never convert to a paid subscription at our platform,” the startup warned.

Dropbox noted that the actual number of people using its service might be lower because some register more than one account.

While Dropbox has seen significant revenue growth since it was founded in 2007, the rate has started to slow.

Dropbox has incurred losses annually since it has been in business, logging net losses of $111.7 million and $210.2 million respectively last year and the year before.

The company had an accumulated deficit of $1.05 billion as of December 31, according to the filing.

“As we strive to grow our business, we expect expenses to increase in the near term,” Dropbox said.

Dropbox also warned potential investors that it faces threats from hackers out to plunder potentially valuable data from the cloud.

“We anticipate that these threats will continue to grow in scope and complexity over time,” Dropbox said.

Dropbox put out word in 2016 that encrypted user IDs and passwords of some 68 million clients stolen four years earlier were freshly leaked online.

“We have responded to this event by expanding our security team and data monitoring capabilities and continuing to work on features such as two-factor authentication to increase protection of user information,” Dropbox said in the filing.

Facebook pulls gun game from conservative gathering

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Facebook pulls gun game from conservative gathering

Tech February 24, 2018 09:18

By Agence France-Presse
San Francisco

Facebook pulled a virtual reality gun game from a major US conservative political gathering Friday, saying the demo was a mistake given the recent deadly school shooting in Florida.

“We removed the demo and regret failing to do so at the start,” Facebook virtual reality vice president Hugo Barra said in a tweet sent from his verified account.

“We got this wrong.”

Facebook-owned Oculus shows off virtual reality games routinely at conferences, and the shooting content was among standard offerings, including action games with violence, according to Barra.

“These shouldn’t have been present, especially in light of recent events and out of respect for the victims and their families,” Barra said in the tweet.

The Facebook booth at the Conservative Political Action Conference (CPAC) near Washington gave attendees opportunities to try Oculus experiences. A video snippet of virtual, first-person gun wielding was posted on Twitter.

Outrage erupted, with people questioning the California-based social network’s morals and whether money mattered more than morals to the platform.

Thousands of Republicans converged on CPAC, where they gather each year to celebrate their causes — and, in 2018, the populist movement that swept Trump into office one year ago.

But it was impossible to ignore the ever-present tragedy of rampaging gun violence, which has roiled American political discourse and put gun rights advocates and opponents under a hot spotlight.

Florida’s governor meanwhile announced that a police officer will be stationed at every public school in the state as part of a plan to improve security following last week’s deadly high school shooting.

And President Donald Trump repeated his call for arming some of America’s teachers and claimed the controversial proposal was increasingly drawing support.

Jordan 3D lab prints limbs for war wounded, disabled kids

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Jordan 3D lab prints limbs for war wounded, disabled kids

Tech February 22, 2018 14:15

By Agence France-Presse
Amman

2,357 Viewed

Iraqi soldier Abdullah lost his left hand fighting the Islamic State group but now he has a prosthetic one — thanks to a 3D printing lab in Jordan.

Abdullah was wounded in a mine blast as Iraqi forces battled to oust the jihadists from Iraq’s second city Mosul last year. His right hand was also seriously wounded.

The 22-year-old is one of a group of Iraqi, Syrian and Yemeni amputees to benefit from a 3D-printing prosthetics clinic at a hospital run by the medical charity Doctors Without Borders (MSF).

“It’s not easy to replace a hand, but at least the new device gives me some autonomy and means I don’t rely too much on my brother to eat,” said Abdullah, who asked not to use his real name.

Wearing jeans and a dark green shirt, he said he had been transferred from Mosul to a hospital in the Iraqi Kurdish regional capital Arbil before heading to Jordan.

“Now I feel better,” he said, managing a small smile. “I hope I can heal my right hand too.”

The 3D printing technique allows the team to create simple upper limbs without moving parts, slashing the costs of manufacturing advanced, custom-made prosthetic limbs, according to MSF.

The MSF Foundation, a wing of the charity dedicated to research and development, set up a prosthetics production centre in Jordan’s Irbid last June.

A team of medics and technicians use the technique to help people born with genetic deformations as well as war wounded from across the region.

Doctors start by taking photos and measurements and sending them to the laboratory in Irbid, 100 kilometres (60 miles) north of Amman.

The data is entered into a system that designers use to create a virtual model of the limb, which is then printed and sent to MSF’s Al-Mowasah hospital in Amman for fitting.

Several organisations have developed 3D printing for amputees in recent years, but MSF says its project is a first in the Middle East.

The clinic aims to give orthopaedic care to as many people as possible affected by the region’s conflicts.

Project coordinator Pierre Moreau said it had treated 15 Syrians, Iraqis, Yemenis, Palestinians and Jordanians since its launch.

“We chose Jordan because we have one of the biggest hospitals and most advanced, and it is a stable place in the middle of a war region so we have access to patients from Syria, Iraq and Yemen,” he said in English.

– Back to school, back to work –

It has also benefitted people born with deformities, such as seven-year-old Palestinian refugee Asil Abu Ayada from the Gaza camp northwest of Amman.

She lives with five brothers and her parents in a mud house, and was born without a right hand.

With her new prosthetic hand, she can now go to a normal school and even sketch drawings.

Too shy to speak to reporters, she sat manicuring her artificial fingers with the help of her sister Ines.

The 3D devices range in cost from $20 and $50 (euros) — a fraction of the cost of conventional prosthetic devices, which can cost thousands of dollars.

“You can design something that can suit this patient and is very specific to the activity of the patient,” Moreau said.

The new technique was developed by MSF in collaboration with “Fab Lab”, a digital manufacturing laboratory in Jordan.

Another beneficiary was Ibrahim al Mahamid, from Daraa in southern Syria, who suffered injuries to his left hand in a bombing raid in 2013.

A 33-year-old taxi driver, he had the hand amputated at a field hospital in Syria before moving to Jordan.

“The new prosthesis has given me hope to be able to go back to work and take care of family expenses,” he said.

Twitter sets crackdown on automated ‘bot’ accounts

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Twitter sets crackdown on automated ‘bot’ accounts

Tech February 22, 2018 07:07

By Agence France-Presse
San Francisco

2,242 Viewed

Twitter announced Wednesday a crackdown on accounts powered by software “bots” which can artificially amplify a person or cause and which have been accused of manipulating the social network during the 2016 US election.

The San Francisco messaging platform said the move was intended to rid the service of spam-spewing automated accounts, and not aimed at people using the service according to the rules.

“These changes are an important step in ensuring we stay ahead of malicious activity targeting the crucial conversations taking place on Twitter — including elections in the United States and around the world,” Twitter developer policy lead Yoel Roth said in a blog post.

The move was the latest by Twitter to enforce rules aimed at curbing disinformation, propaganda and provocation.

Since the 2016 election, Twitter and others discovered how “bots” had been used to sow political divisions and spread hoaxes.

“One of the most common spam violations we see is the use of multiple accounts and the Twitter developer platform to attempt to artificially amplify or inflate the prominence of certain tweets,” Roth wrote.

“To be clear: Twitter prohibits any attempt to use automation for the purposes of posting or disseminating spam, and such behavior may result in enforcement action.”

Posting duplicative content, replies, or mentions from an array of accounts one controls, by hand or by bot, is forbidden, according to Twitter.

“Bulk, aggressive, or very high-volume automated retweeting” is also banned, along with using multiple accounts to perform automated actions at the service such as following people, Roth said.

A sole exception to the rule was applications designed to broadcast weather, emergency or other public service type announcements, according to Twitter.

Developers were given until March 23 to bring applications into compliance with the tightened rules or risk suspension.

Keeping Twitter safe and free from spam is a top priority for us,” a Twitter spokesperson said.

“Today’s update to TweetDeck and our developer platform is an important change to ensure we stay ahead of malicious activity targeting conversations on Twitter.”

– Follower counts fall –

The crackdown is part of an effort to weed out automated and fake accounts, a move which rankled some conservative personalities.

Some users woke on Wednesday to find a sharp drop in followers, prompting a series of hashtags on the platform such as #TwitterLockOut and #TwitterPurge.

The cause was an ongoing effort to “identify suspicious account behaviors that indicate automated activity” or other policy violations, a Twitter spokesperson told AFP.

And, despite conspiracy theories that quickly gained traction at Twitter, the service denied any political bias.

“Twitter’s tools are apolitical,” the spokesperson said.

“This is part of our ongoing, comprehensive efforts to make Twitter safer and healthier for everyone.”

Twitter last month said the number of Russia-linked accounts firing off tweets evidently aimed at the US election in 2016 was more widespread than initially determined.

An indictment issued this week by US special counsel Robert Mueller, investigating Russian interference in the 2016 election, named the Internet Research Agency, described as a bot and disinformation operation which sought to sow divisions in American society using social media.

IT eyed to reduce court paperwork

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IT eyed to reduce court paperwork

Tech February 21, 2018 22:09

By The Japan News/ANN

TOKYO – The Japan government plans to digitise all documents necessary in civil trials to better utilise information technology in legal procedures, The Yomiuri Shimbun has learned.

 Currently, paper documents such as complaints and briefs for civil litigation should be submitted to courts and used in courts, in principle.

Under the plan, people who are going to begin civil trials will be able to submit complaints and briefs by accessing a dedicated website that will be newly created on the internet by the courts. It is expected that the new system will boost convenience and promote paperlessness.

The government mentioned greater use of information technology in court procedures in the “Future Investment Strategy” approved by the Cabinet in June last year. Since then, an expert council has continued consideration on the matter.

As the expert council will soon submit a proposal, the government will begin considering a revision of related laws and the establishment of a system. The government aims to introduce such a system as early as fiscal 2020.

Article 161 of the Code of Civil Procedure states, “Oral arguments shall be prepared in writing.” The law obliges people involved to provide complaints, briefs and documents related to evidence in the form of paper, in principle.

When submitting the documents to the courts, people involved are required to directly deliver them, send them by postal mail or fax them to the courts. Under this system, there have been complaints about problems such as the time and expense of printing, postage or delivery fees, and securing places to store such papers.

If submission of complaints and other documents via the internet is allowed, it can result in reducing burdens on plaintiffs, lawyers and other parties concerned, and can make court procedures speedier. The government will also consider building a system in which the courts manage trial records in an integrated manner.

The government is also considering a measure by which a teleconference system, which is now usable only among courts, will be connected to lawyers’ offices and other locations, aiming to reduce burdens on people who come to the courts from faraway places.

At the same time, the government will carefully consider assistance measures for elderly people and others who are not accustomed to using personal computers, so that such people will not suffer any inconvenience.

In the World Bank’s 2017 rankings on the ease of doing business, Japan ranked 23rd in the category of court procedures among 35 member countries of the Organization for Economic Cooperation and Development.

The use of information technology in lawsuit procedures has been steadily increasing in the United States, Singapore, Germany, South Korea and other countries. Voices of concern have been raised in business circles in Japan that the nation will lag behind the rest of the world under the current style of court procedures, in which too much emphasis is placed on paper documents and face-to-face meetings.

In 2004, the government introduced a system in which some court procedures, such as requests for changing dates of court sessions, could be conducted on the internet. But there were only two cases in which the system was used. The government discontinued operation of the system in 2009.

Play ‘fake news tycoon’ to combat misinformation

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Play ‘fake news tycoon’ to combat misinformation

Tech February 20, 2018 07:59

By Agence France-Presse
London

2,340 Viewed

Trolling, impersonating, demonising: these are just some of the behaviours encouraged in a new online game launching Tuesday in which young players become “fake news tycoons” — to counter growing misinformation.

Researchers at Cambridge University have teamed up with a Dutch media collective to develop an English version of the game aimed at inoculating people against the spread of so-called fake news.

The exercise encourages participants, who are tasked with building audiences for their imaginary fake news sites, to stoke fear, anger and mistrust by simulating the manipulation of online content.

In the game they choose polarising falsehoods to publish, cultivate an army of Twitter bots, fabricate evidence, and propagate dubious articles and conspiracy theories.

“If you know what it is like to walk in the shoes of someone who is actively trying to deceive you, it should increase your ability to spot and resist the techniques of deceit,” said Sander Van Der Linden, director of the university’s Social Decision-Making Lab.

“We want to help grow ‘mental antibodies’ that can provide some immunity against the rapid spread of misinformation,” she added.

The psychological theory behind the effort is called “inoculation”.

Researchers at Cambridge last year found that briefly exposing people to tactics used by fake news producers can act as a “psychological vaccine” against bogus anti-science campaigns.

A pilot study conducted with teenagers in a Dutch high school used an early paper-and-pen trial of the online game, and showed the perceived “reliability” of fake news to be diminished in teens that played compared to a control group.

“A biological vaccine administers a small dose of the disease to build immunity,” said Van Der Linden.

“Similarly, inoculation theory suggests that exposure to a weak or demystified version of an argument makes it easier to refute when confronted with more persuasive claims.”

The game, based in part on existing studies of online disinformation, takes its cues from actual conspiracy theories about organisations such as the United Nations, and about issues such as vaccines.

It is set to be translated for countries such as Ukraine, where disinformation campaigns are particularly rife.

Artificial intelligence poses questions for nature of war: Mattis

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Artificial intelligence poses questions for nature of war: Mattis

Tech February 19, 2018 06:53

By Agence France-Presse
Washington

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Artificial intelligence and its impact on weapons of the future has made US Defense Secretary Jim Mattis doubt his own theories on warfare.

A question on the subject prompted the retired Marine general to give an impromptu seminar on his theory of war Saturday to reporters returning with him from a week-long tour of Europe.

Recalling his own writings, he differentiated between the essential nature of war, which is unchanging because it is human, and war’s character, which is changing.

“The fundamental nature of war is almost like H2O,” he said. “It’s equipment, technology, courage, competence, integration of capabilities, fear, cowardice, all these things mixed together into a very unpredictable fundamental nature of war.”

“The character of war changes all the time. An old dead German called it a Chameleon because it changes to adapt to its time, to the technology, to the terrain,” he said, referring to the 19th century military strategist Carl von Clausewitz.

Mattis explained that today drones are piloted remotely, but tomorrow weapons may be able to learn on their own, adapt and fire themselves.

“The most misnamed weapon in our system is the unmanned aerial vehicle. It may not have a person in the cockpit, but there is someone flying it, someone over his shoulder, and actually more people flying it than a manned airplane,” he said.

“If we ever get to the point where it is completely on automatic pilot, we are all spectators. That is no longer serving a political purpose. And conflict is a social problem that needs social solutions, people — human solutions.”

He said he did not know what artificial intelligence will do to warfare, “but I am certainly questioning my original premise of the fundamental nature of war that does not change.

“You have got to question that now. I just don’t have the answer.”

Myanmar farmers going against the grain with apps

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A farmer using a mobile app while working in a rice field on the outskirts of Yangon. // AFP PHOTO
A farmer using a mobile app while working in a rice field on the outskirts of Yangon. // AFP PHOTO

Myanmar farmers going against the grain with apps

Tech February 18, 2018 19:38

By Agence France-Presse
Myanmar

4,293 Viewed

A free app on farmer San San Hla’s smartphone is her new weapon in the war against the dreaded stem borer moth that blighted her rice paddy in southern Myanmar for the last two years.

As she watches her workers haul in this year’s harvest, the 35-year-old is in a triumphant mood, ascribing her victory over the seasonal scourge to advice received via the app about effective pesticide use.

This photo taken on December 27, 2017 shows farmers working in a rice field on the outskirts of Yangon. New smartphone apps are providing farmers with up-to-date information on everything from weather, climate change, crop prices to advice on pesticides and fertilisers. / AFP PHOTO 

“We used to just farm the way our parents showed us,” she told AFP, in her village of Aye Ywar west of Yangon.

“But after getting the app, I now see how we should be doing it… it’s better to use proper techniques rather than just working blindly.”

San San Hla is among a growing cohort of farmers who are turning to tech to address the knowledge gap in a country where two thirds of the workforce are employed in agriculture.

The sector accounts for some 28 percent of the country’s GDP, but yields are low with farmers cut-off from modern technology under decades of isolationist junta rule.

For people like San San Hla apps could be the answer.

They are providing farmers with up-to-date information on everything from weather, climate change, crop prices to advice on pesticides and fertilisers.

Chat forums are connecting farmers, allowing them to swap tips while experts are on hand to answer queries.

The “Green Way” app is the brainchild of two former agricultural students, who in 2011 set up a website for farmers, often working through the night to keep it updated.

This photo taken on December 27, 2017 shows farmer San San Hla using a mobile app as she works in a rice field on the outskirts of Yangon. A free app on San San Hla’s smartphone is her new weapon in the war against the dreaded stem borer moth that blighted her rice paddy in southern Myanmar for the last two years. New smartphone apps are providing farmers with up-to-date information on everything from weather, climate change, crop prices to advice on pesticides and fertilisers. / AFP PHOTO

But at the time few farmers had internet access, recalls Yin Yin Phyu, 28, explaining the “idea just didn’t take off.”

Then smartphones arrived and everything changed.

As Myanmar opened its doors, telecoms companies rushed in to grab market share, thrusting Myanmar beyond the era of desktop computers and old-style mobile phones.

The cost of sim cards, once the tightly-controlled reserve of the well-connected, or special branch spies, plummeted from an unattainable $3,000 in 2005 to $1.50 in 2013.

Competitors practically gave away smartphone handsets as they fell over themselves to build up brand loyalty.

Mobile penetration stood at just seven percent in 2012. By the end of 2017, smartphone penetration had rocketed to 80 percent.

A nascent tech hub followed and outside of agriculture, apps were created for everything from healthcare to Myanmar’s parliament.

Farmers, many among the country’s poorest, today find themselves with a mobile computer in their hands — a game-changer for the entrepreneurs behind ‘Green Way,’ who launched their app in 2016 and now employ 18 full-time staff.

“‘Green way’ is my dream to link farmers and experts,” Yin Yin Phyu told AFP. “The farmers can get help whenever they need.”

Some 70,000 farmers have already downloaded the app although she hears far more are accessing it through phone-to-phone sharing.

 

– Field work –

Greater productivity at Myanmar’s farms could reshape both its economy and society, says 71-year-old agricultural expert Myo Myint.

“Many workers migrate to other countries because they can’t make enough money to live from agriculture in Myanmar,” he says.

“Farmers need technology and investment.”

A 2017 World Bank study found farmers in some areas of the country still earn as little as $2 per day.

Productivity is also relatively low with only 23kg of rice paddy generated in one day of work in Myanmar compared to 62kg in Cambodia, 429kg in Vietnam, and 547kg in Thailand.

The founder of the “Golden Paddy” app says the new tech is not best suited to struggling farmers at the bottom of the ladder.

They do not have the time or resources to implement advice on changing seeds or fertiliser.

Instead, the apps are aimed at smallholder farmers to allow them to “become a little more commercial,” Dutchman Erwin Sikma explains.

Similar projects in other developing countries – in India and parts of Africa – are still reliant on old-style phones and information by SMS.

Myanmar now has the chance to leapfrog that era to become an agricultural trailblazer.

But that also means the country is in uncharted territory.

“We have a lot of first-mover disadvantages,” Erwin Sikma says.

“It’s a start-up in a completely new model in a completely new market or economy so we need all the help we can get.”

Leaving the money at home

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Leaving the money at home

Tech February 18, 2018 03:00

By Asina Pornwasin
The sunday Nation

5,622 Viewed

Banks leap into the future with QR code sales and app-based loan approvals as they withdraw from bricks and mortar storefronts

IT’s lunchTIME at the Siam Commercial Bank headquarters canteen and a lot of hungry people lined up in a long queue are peering down at their smartphone screens. At a first glance, they appear to be chatting or socialising via social networks, but in fact they are opening a mobile application as they prepare to pay for their food once they reach the front of the line. The scenario plays out daily at this canteen.

Thana Thienachariya senior executive vice president and chief marketing officer at Siam Commercial Bank Public Co Ltd (SCB), recalled the company’s first trial after launching its QR code, “Mae Manee”, at its canteen in October 2017. Only eight per cent of total transactions used the QR code option.

SCB decided to force a conversion by allowing only payment by QR code at the canteen. As the result, the total spending at the canteen immediately crashed 30 per cent.

The restaurants were, of course, not happy. A different approach was clearly required.

“So, we turned to using a ‘carrot and stick’ strategy to convince employees to use the QR code as their main type of payment at the canteen by offering promotions and creating brand value for the QR code under the ‘Mae Manee’ restaurant label,” recalled Thana.

“The total sales volume turned back to normal.”

And the company now uses the canteen as a laboratory to test QR code marketing ideas, Thana added.

Around 80 per cent of total transactions – average of around Bt150,000 to Bt160,000 per day – were paid through the QR code in January. At the SCB canteen, named “Ruen Mae Manee” (Mae Manee’s house), there are 22 restaurants providing food and beverages for about 3,000 people each working day, 70 per cent of whom are SCB employees.

Success at its canteen inspired SCB to deploy the entire Ruen Mae Manee (Mae Manee’s house) concept, including restaurant decoration and the QR code payment solution, at other food courts.

SCB takes a strategic approach to deploying their QR code payment system. They focus on four groups of venues: university cafeterias including Chiang Mai University, Khon Kaen University, and Kasetsart University; shopping centres including Platinum Fashion Mall and The Mall’s Gourmet Markets; markets including Chatuchak Weekend Market, NiNJa Bazarr night market in Chon Buri; and Shell oil stations. Planning is underway to expand to 20 restaurant chains including Bar B Q Plaza (now under negotiation), and hospitals.

“We focus on community malls nationwide, universities, and food street merchants that contribute both numbers of transactions and public awareness,” said Thana.

SCB is aiming for 1 million shops accepting QR code by the end of 2018, an ambitious increase from the current 300,000 shops. The planned leap requires SCB to expand its retail customers while also having financial data about them. The bank could then initiate and develop new innovative products to specifically target segmented customer groups. The bank could instantly approve customer loans thanks to the power of big data analytics.

“From the launch until now, around four months, transaction are around Bt1 billion and around 65 per cent of payers are SCB’s customers [using SCB Easy app],” said Thana. “We can make loans to these people because we can follow their transactions. That [instant access to customer details] helps us to offer new way of lending to small retail banking customers. The QR code payment system helps us to know our customers.”

Next up is to expand adoption of the SCB Easy app, increasing uptake from the current 6 million or so users to 10 million by the end of 2018. SCB’s total retail customer count is now around 14 million.

“We do not compete with banks but we are now competing with giant platforms including Facebook, Line, Joox and so on. We need to have at least 10 million customers we daily interact with on the digital platform.”

The company aims to be a medium-sized platform that adds new businesses to those already on-board. Smaller platforms with fewer than 10 million customers would be unable to survive in the future, said Thana.

In the future, banks will be accessible far beyond their bricks and mortar buildings, with as many services as possible pushed onto digital platforms and accessible by smartphones.

Merchants will benefit from QR code as it helps them reduce the cost and time needed for cash management and reduce the risk from carrying cash. They would also have increased opportunities for easier access to financial services, especially getting bank loans. Meanwhile, the bank will customise interest rates for different customers according to their financial information.

“Banks will have better credit scoring that allows them to provide loans to large numbers of people without collateral, but uses financial information, and their ability to incur debt, through big data analysis,” said Thana.

Nantharat Thuamthiasong, a beverage shop seller at the “Mae Manee” restaurant, said that QR code payment helps him to more easily and quickly provide beverage service to customers, especially in the lunchtime rush hour.

“We do not need to scan cash cards or return the change, but just scoop ice and bring water, – and that helps us to offer services to more customers at certain periods of time,” said Nantharat.

Jirat Sirirattanatakool, owner of Cha Wang, a famous Southern food shop located at Mae Manee restaurant, said that QR code is a very convenient way to receive payment. Cha Wang receives over Bt30,000 per day, mostly paid via QR code.

Another giant bank, Kasikornbank (KBank), is also focusing on cashless payments through expansion of its mobile app and QR code payment system.

Patchara Samalapa, senior executive vice president, of Kasikornbank, said that with their K Plus QR code and mobile app, the bank is aiming to build big data analysis to help them understand customers’ needs and lifestyles. Kbank is planning to bring innovation and technologies to offer machine lending and machine commerce in the future.

To achieve this goal, it is repositioning its mobile app, K Plus, which now has 7.5 million users, to be a “Lifestyle Platform” offering the full gamut of lifestyle solutions for all customers, while satisfying retail clients’ requirements and creating new opportunities for small businesses.

K Plus now has 3 billion transactions a year, Bt6.3 trillion in transaction value and 7.5 million users, 80 per cent of them regular users. KBank aims to increase the number of K Plus users to 10.8 million within 2018.

It now has about 800,000 merchants using QR code via their K Plus Shop, with 1.4 million transaction items and totalling Bt1.1 billion. It aims to increase to one million merchants by the end of 2018.

The bank’s strategy is to focus on selective marketing to reach corporate customers such as cafeterias in courts and Siam Cement Group (or SCG) cafeterias. It has also worked with PTT to offer QR code payment services for all retail transactions at PTT gas stations, including at Cafe Amazon, Texas Chicken, Daddy Dough, Huasenghong Dimsum, Fit Auto, and Jiffy.

Additionally, KBank will in March introduce an e-marketplace through a mobile app called Shopping on K Plus. It will be the first e-marketplace in Thailand where customers could select a diverse range of goods on a mobile banking app (K Plus), including agricultural produce from the Pruanfun project and farmer groups across the country, products from small retailers and SMEs, and other merchandise from KBank’s business partners.

KBank is planning to feature more than 30 million products via K Plus, with a total Bt600 million turnover made via this e-marketplace within one year of its introduction. Moreover, KBank is planning to use big data to analyse business issues and streamline the back-office processes in order to upgrade its service potential.

Patchara said that important tasks include data analyses, efficiency enhancement of risk management, and improvement of personal and business credit extension, in order to satisfy the desires of each customer segment.

It has also launched the K-Personal Loan service via K Plus – a personal loan service via a mobile banking app.

KBank uses a system that calculates interest rates by taking into consideration the risk factors of each individual customer to customise and offer loan products via the K Plus application. It has now started testing the system with a group of pre-qualified customers with appropriate creditworthiness. The customers can enter the amounts that they want to borrow, and the system will show their credit limits. After a customer click in agreement, the loan funds would be wired to their accounts immediately.

KBank has also recently developed a Social Payment function to enable sellers to receive payments instantly from their customers via social media platforms such as Facebook, Messenger, Instagram, Line and WhatsApp. The merchants simply send their QR code bills, so that customers can pay for goods and services via K Plus or other mobile banking application of any commercial bank.

Two med-tech accelerate winners touted for commercial success

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Startup_and_IT/30339127

Two med-tech accelerate winners touted for commercial success

Tech February 18, 2018 02:00

By Asina Pornwasin
The SUNDAY Nation

3,294 Viewed

THE COMPANY behind a post-stroke brain-monitoring system, and another company with a cloud-based healthcare information platform have won the TCELS Life Sciences & MedTech Acceleration Programme 2017 competition.

Brain Dynamics and MEiD won Bt2 million after their demonstration-day pitches won over the judges from the event, which was hosted by the Thailand Centre of Excellence for Life Sciences (TCELS) in cooperation with Expara, a Singaporean venture capitalist.

Brain Dynamics is an innovative medical device company that has developed a brain monitoring system to enhance post-stroke rehabilitation efficiency. MEiD is a cloud-based healthcare information platform.

TCELS’ deputy director, Chairat Sangchan, said that Brain Dynamics and MEiD were two among eight teams that attended the three-month accelerate programme, which provided mentorship and incubation on the life sciences and biotechnology as well as business and marketing.

The winners distinguished themselves on product and scalability, as well as in intellectual property (IP) and having deep technology, which increased the strength of their innovation and the chances of growth success in the global market.

The role of TCELS is to match researchers and investors as well as to facilitate the journey to commercialise their research and development in the market.

“TCELS plays a key role in developing, supporting and encouraging entrepreneurs to initiate life-science start-up businesses pertaining to the government policy,” said Chairat.

Meanwhile, Douglas Keith Abrams, founder and director of Expara (Thailand) said that developing a life-science start-up in Thailand is a great start for those Thai companies developing products and services related to the global trends in life-science technologies. They are also playing an important part that helps in Thailand’s drive to become the medical hub of Asia, said Abrams.

The 2017 iteration was the second batch of the TCELS Life Sciences and MedTech Acceleration Programme. TCELS first started the program in 2016 under the name Mini Life Science Mentorship Program 2016, but without a co-host or pitching programme on the demo day.

“We got 13 potential life science and bitotechnology teams in our mentorship programme,” said Chairat. “Only three teams were winners – two of them have now commercialised their research.”

One winner’s hair-related business has expanded to the Vietnam, Indonesia, and Bangladesh markets, helping generate economic value of Bt50 million, said Chairat.

In 2018, Chairat said, TCELS will expand features of the programme by adding a “global connect programme” that will help winning teams to go global through TCELS’ connection network.