Fast Five from the Valley: Edition 90

#1 | FACEBOOK REVEALS LIBRA CRYPTOCURRENCY WITH AMBITIOUS GOALS

Social media giant Facebook announced it’s creating a cryptocurrency called Libra to debut in 2020. Blockchain technology underlies the new currency that’s supposed to ease money transfers across the globe and help un- and underbanked to access financial services. In other words, Mark Zuckerberg wants to make paying as easy as texting. Libra will be managed by a Swiss-based nonprofit founded by a number of companies such as eBay, Uber, Lyft, Spotify, Visa, Mastercard, Paypal, Coinbase, and venture capital firm Andreessen Horowitz. The currency will be backed by real assets held by central banks. Also, users will hold the digital money in a digital wallet called Calibra and will be able to purchase products and services at participating merchants.

Read more here: https://tcrn.ch/2ZDW23j https://bbc.in/2IYWum3

#2 | GENIUS USES MORSE CODE TO PROVE THAT GOOGLE STEALS SONG LYRICS

When music-annotation website Genius discovered that its lyrics are being copied by Google and displayed directly, it got creative in proving the wrongdoing of the search giant. Genius decided to digitally watermark its lyrics by adding a series of alternating straight apostrophes and curved apostrophes. When laid out in sequence, these dots and dashes create a “RED HANDED” message in Morse code. The identical sequence was later founded in lyrics displayed in Google search results. Following this revelation, Google issued a statement saying that its lyrics are licensed from LyricFind, a Canadian company that also denies it sources content from Genius. Nonetheless, this case demonstrates many ways in which Google is trying to provide info directly and prevent users from visiting other websites.

Read more here:   http://bit.ly/2WX7ZV0 https://cnn.it/2MYahhZ

#3 | VOICE SHOPPING IS YET TO LIVE UP TO THE HYPE

Voice shopping is yet to reach its full potential and one of the key reasons is the high rate of miscommunication and errors. Voice assistants such as Alexa, Siri, Cortana, and Google Assistant failed 65 per cent of questions asked by researchers in a study conducted by market research firm Forrester. Analysts argue that “voice commerce is completely overrated” as only six per cent of consumers have used voice-activated devices to make a purchase in the first half of 2019. But companies hope that the appeal of devices powered by smart assistants might be improved by adding screens and visual experience to typically audio-first experience. Time will tell whether the new approach will live up to the hype. 

Read more here:    http://bit.ly/2KtS4qq http://bit.ly/2FnGHvX

#4 |COMPANIES ADAPT AS MILLENNIALS CHANGE THE RULES OF WEDDING REGISTRIES

Burdened with student debts and eager to show their experiences on social media, modern couples are redefining what wedding registries are all about. Instead of typical necessities such as linens, a toaster, or silverware, more and more young people are registering for experiences, charitable funds, or gift cards. Also, cash funds are gaining more traction with couples registering them for a down payment on a home, mental wellness, or continued learning classes. The shift in consumer sentiment gave rise to a number of startups. Honeyfund, for instance, is a website that offers alternative wedding registry options to couples and partners with 150 brands including hotels, airlines, and home improvement retailers.

Read more here: http://bit.ly/2ZDngHs http://bit.ly/2XY4jig

#5 | BEAUTY BRANDS TRY ON YOUTUBE’S NEWEST IMMERSIVE AD FORMATS

Beauty brands are already testing the latest immersive experiences that Google offers to YouTube advertisers. MAC Cosmetics, for instance, offered virtual try-ons of lipstick shades to viewers that watched product reviews. The try-on tool also had a “Shop” button to enable users to make a purchase. Meanwhile, Guerlain tested the new Swirl feature, an immersive format that lets users move 3D objects and explore it from various angles. All of these new formats are supposed to help shoppers engage with brands on the mobile web and support Google’s ad growth. Amazon too has innovated in the digital ad market and provides immersive ad formats. 

Read more here:  http://bit.ly/2L3hHOl https://tcrn.ch/31LJfOf

This newsletter was originally published in 2019 on the Detecon’s website.