DD
MM
YYYY

CATEGORIES

PAGES

DD
MM
YYYY

spot_img

CATEGORIES

PAGES

Home Blog Page 78

Apple Fights $38 Billion Fine Threat, Challenges India’s Global Turnover Penalty Law

By
Samuel Nwite
-
0

Apple has filed a constitutional challenge against an amendment to India’s competition law, seeking to block antitrust proceedings that could expose the company to a colossal penalty of up to $38 billion.

The legal challenge, submitted to the Delhi High Court, targets a provision in the Competition Act 2024 that allows the regulator to calculate fines based on a multinational corporation’s global turnover—a major point of tension between New Delhi and global tech giants.

Apple’s 545-page petition argues that the amended law is “manifestly arbitrary, unconstitutional, grossly disproportionate, and unjust,” especially when applied to violations that occur only within the Indian market. The company is asking judges to declare the 2024 amendment illegal and prevent the regulator from taking any coercive steps that could force it to pay a potentially record-breaking fine.

The Anatomy of the $38 Billion Threat

The staggering $38 billion figure is not a final fine but Apple’s own calculated “maximum penalty exposure.” This is derived from the new law, which empowers the Competition Commission of India (CCI) to levy a penalty of up to 10% of a company’s average turnover from all its products and services globally for the preceding three financial years.

Based on Apple’s average global turnover from all services (including the App Store) over the three fiscal years leading up to 2024, the tech giant estimates the 10% maximum penalty could reach approximately $38 billion.

Before the 2024 amendment, the penalty was calculated using the “relevant turnover”—revenue generated specifically from the infringing goods or service within the Indian market. The CCI’s current counsel argued in court that fines based only on local revenue (which might be in the hundreds of millions) “don’t matter” to major tech companies, suggesting that the massive global turnover fines are necessary to act as an effective deterrent. Opponents like Match Group have echoed this, stating a fine based on worldwide revenue would act as a “significant deterrent against recidivism.”

The legal dispute is tied to an ongoing antitrust investigation initiated in 2021 by the CCI following complaints from Match Group (Tinder) and several Indian startups. CCI investigators have concluded that Apple engaged in “abusive conduct” on the market for apps distributable on its iOS operating system.

The key allegation is that Apple creates a monopoly position by requiring developers to use only its proprietary in-app purchase (IAP) system for digital goods. This system forces developers to pay commissions of up to 30% on every transaction. The CCI found the App Store to be an “unavoidable trading partner” for iOS developers, leaving them “no choice but to adhere to Apple’s unfair terms.”

The CCI also took issue with Apple’s rules that prohibit app developers from informing users within the app about alternative purchasing methods or providing external links to non-Apple payment systems, which the regulator argues results in higher prices for Indian consumers and stifles competition.

However, the 2024 amendment brings India’s antitrust penalty framework closer to the model used by the European Union, which also allows fines of up to 10% of a company’s global turnover for antitrust violations.

A major point of contention for Apple is the retrospective application of the law. Apple cited an unrelated case on November 10 where the CCI used the new rules to penalize a company for a violation that occurred nearly a decade earlier. Apple argued it has “no choice but to bring this constitutional challenge now” to avoid the same treatment in its ongoing case.

The Dominance Debate

Apple defends itself by saying it is a smaller player in India compared to Google’s dominant Android platform. However, Counterpoint Research noted that Apple’s smartphone user base has quadrupled in the country over the last five years, suggesting its market power is rapidly growing, especially among high-value consumers.

India’s CCI previously fined Google approximately $162 million in 2022 for abusing its dominant position with its Android platform, restricting it from certain revenue-sharing agreements. That fine was calculated under the old “relevant turnover” regime. The new challenge by Apple is a direct test of the regulatory seriousness behind the new, dramatically tougher global turnover law.

The Delhi High Court has requested a detailed response from the CCI on Apple’s arguments, setting the stage for a critical legal showdown that will define the regulatory environment for all multinational corporations operating in India.

Zazu Raises $1 Million Pre-Seed to Expand Pan-African Digital Banking For SME

By
Ojukwu Emmanuel
-
0

Zazu, a neobank for African SMEs, offering seamless banking tools, cash flow automation, and real-time insights, has raised $1 million in pre-seed funding.

The funding round saw participation from Plug and Play Ventures and a notable lineup of angel investors and fintech leaders, including Zachariah George of Launch Africa Ventures, Axel Peyriere (Co-founder of AUTO24.africa), Akshay Patel (Founder of Paymentology), Ismael Belkhayat (Founder of Chari), and Sophie Guibaud (Founder of Fiat Republic).

The investment will support Zazu’s expansion in South Africa and Morocco, with broader plans to scale across the continent in 2026.

Founded in 2024 by Rinse Jacobs and Germain Bahri, Zazu was launched with the idea of making banking better for African founders and SMEs by providing them with a powerful bank account at the core, combined with invoicing, bookkeeping, and cash flow management tools. The fintech aims to provide African businesses with a seamless, Mercury-style banking experience tailored to their unique needs.

Zazu combines European fintech expertise with a deep understanding of African business realities, targeting the continent’s 50 million underserved SMEs. It offers services such as digital accounts, payments, financial management tools, and business connectivity features.

Five months ago, the neobank launched a feature “Zazu Connect”, designed to enhance connectivity and financial collaboration among African businesses. The launch aims to provide entrepreneurs and SMEs with seamless tools for payments, business networking, and financial management, strengthening Zazu’s mission to serve the continent’s 50 million underserved SMEs.

With over 50 SMEs already in beta and more than 1,000 businesses on its waitlist, the platform continues to expand its services across South Africa and Morocco, with plans to scale across the continent in 2026.

Zazu Connect integrates with major ecosystem players such as Paystack, Shopstar, and Ozow, while also offering SMEs opportunities to connect with partners, investors, and service providers. The company’s innovation has already earned it recognition, including selection for the Visa Accelerator Program, a finalist spot for KPMG’s Enterprise Innovator of the Year 2025, and inclusion in PwC’s “Fintechs to Watch.

Notably, Zazu offers a comprehensive suite of digital banking and business management tools designed specifically for African entrepreneurs and SMEs. Its features aim to simplify financial operations, improve efficiency, and provide businesses with the insights they need to grow.

These include;

• Business Account: Zazu provides fully digital business accounts that allow SMEs to manage their finances seamlessly. Businesses can send and receive payments, track transactions in real-time, and operate with the flexibility of a modern banking platform.

• Digital Incorporation: Zazu streamlines the process of registering and incorporating a business digitally, removing the traditional paperwork hurdles and enabling entrepreneurs to start and scale their ventures faster.

• Invoice Management: The platform allows businesses to create, send, and track invoices easily, helping improve cash flow management and ensuring timely payments from clients.

• Expense Management: Zazu offers tools to track and categorize business expenses, giving entrepreneurs better visibility and control over their spending.

• Bookkeeping & Cash Flow: The platform integrates bookkeeping and cash flow tracking features, allowing businesses to monitor financial health, generate reports, and make informed decisions.

By combining these features, Zazu acts as an all-in-one financial ecosystem for SMEs, helping African entrepreneurs operate efficiently, reduce administrative burdens, and focus on growth

The company’s goal is to dust off the old banking experience and create the finance solution that empowers up entrepreneurs, ensuring they can focus on their core as they create the next great companies.

Zazu is on a mission to build a finance solution that entrepreneurs love, which makes banking feel less like an obstacle and more like a catalyst for growth.

Stellantis Forecasts 11% Decline in French Production as Overcapacity Fears Deepen

By
Samuel Nwite
-
0

Stellantis expects production at its French factories to fall by about 11 percent over the next three years, marking one of the most significant adjustments to its industrial footprint in the country since the merger that created the automaker in 2021.

Trade unions said the company shared internal estimates last week showing that output across its five assembly plants is projected to drop to roughly 587,800 vehicles by 2028. Two union officials confirmed the figures, adding that they align with an earlier report published by the Financial Times.

The decline is not evenly distributed. According to one union source, three of the five plants are set for reductions, with Poissy — once a flagship site producing compact and mid-range models — facing the steepest drop. Poissy has already been under pressure this year after Stellantis temporarily halted production at the site, as well as at the Mulhouse plant, due to weakening consumer demand across Europe.

These stoppages signaled a deeper concern about excess capacity in the region, something Stellantis has been wrestling with since the slowdown in EV sales and the deceleration of Europe’s auto market.

The automaker’s outlook could still shift depending on decisions expected from Brussels on December 10. The European Commission is preparing fresh guidance on CO? rules, including adjustments that may give carmakers more flexibility on emissions compliance while offering additional support measures for the European industry. Stellantis, which has a wide lineup spanning hybrids, petrol models, and EVs, is watching the regulatory process closely. Any change in emissions targets, deadlines, or hybrid credits could influence product allocations at its French plants.

The market context around Stellantis in France is already showing signs of stress. New data released on Monday revealed that Stellantis vehicle registrations fell 5.5 percent in November. This decline pushed its French market share down to 25.3 percent from nearly 27 percent in November last year. France is one of Stellantis’ most important markets, and a sustained drop in registrations can influence broader manufacturing decisions, especially at plants operating on tight margins.

Even with the production headwinds, Stellantis posted a 13 percent rise in third-quarter revenue — but the company has warned that the improving topline does not fully reflect its mounting operational challenges. Under new CEO Antonio Filosa, Stellantis has begun restructuring parts of its portfolio, triggering one-off charges linked to changes in its product and strategic plans. These charges include billions of euros booked in the first half as the company adjusts its EV rollout, trims less profitable projects, and rebalances its platform strategy.

Filosa, who will present his full business plan early next year, has already taken steps to steady the group’s direction. He has signaled a pragmatic tilt in favor of hybrids and petrol engines, reflecting persistent demand in regions where EV uptake remains sluggish. He has also pushed to revive established nameplates such as the Jeep Cherokee SUV, responding to consumer interest in models with longstanding brand value rather than newer experimental designs. His broader mandate is to refocus Stellantis’ lineup and cut unnecessary costs without triggering sweeping job cuts in key countries such as France and Italy.

Stellantis’ French operations — which include plants in Poissy, Mulhouse, Rennes, Hordain, and Sochaux — have historically been tightly linked to government policy and labor negotiations. France remains sensitive to any reduction in industrial activity, especially in the auto sector, where production has steadily declined over the past two decades. Any projected reduction in output tends to spark debate about state support, EU policy, and long-term industrial competitiveness.

The looming EU decisions complicate matters further. European manufacturers have been lobbying aggressively for more realistic emissions rules, arguing that rapid enforcement of EV-only pathways risks accelerating job losses, eroding competitiveness, and boosting the advantage of cheaper Chinese imports. Stellantis, which has warned repeatedly about EU-China trade dynamics, is among the companies most exposed to these shifts.

For now, the company’s estimates suggest that French production will decline even as Stellantis tries to cushion the blow through model adjustments and strategic recalibration. The next phase of EU policy could determine whether the automaker pares back even more capacity or whether it can stabilize output by leaning more heavily on hybrids and traditional combustion engines over the next several years.

Money Without Exposure: The New Privacy in the Digital Age

By
Olaseni Kehinde Precious
-
0

Money Without Exposure: The New Privacy in the Digital Age

Rachel was never just a journalist; she was the kind of investigative reporter whose work threatened oppressive governments in Africa. One day, while trying to verify an upcoming transaction, she noticed some discrepancies in her accounts. At that point, it dawned on Rachel that her bank accounts were under surveillance. The government had partnered with several centralized authorities to monitor her inflows and outflows so as to trace her donors and sabotage her.

In order to resolve this problem, Rachel turned to Bitcoin. She wanted a technology that would protect her from tyrants. However, her expectations were soon shattered when one of her donors’ identities was revealed. For someone new to the decentralized world, fears leaked through her guts until she was perplexed, hoping that God or whatever energy behind the universe sprinkled some surprises to dissipate the career ache she was battling.

Unknowingly to Rachel, some on-chain analysts had agreed to assist the government. From senders to receivers to withdrawals were all publicly available to trace on the blockchain. So, the technology she employed for a solution became a tool for exposure.

All over the world, several investigative journalists, humanitarian aid supporters, whistleblowers, etc., are being sabotaged by their digital imprints. Traditional banks expose them, and crypto, which is meant to protect them, also fails them. So, people like Rachel become the oppressed whom they constantly agitate for. And without privacy, the freedom fighters and peace enablers today and in the future remain targets.

The Privacy Problem in Cryptocurrency

Cryptocurrency, pioneered by an anonymous programmer named Satoshi Nakamoto, is digital money aimed at making transactions distant, accessible, and fair. Bitcoin, the first-ever cryptocurrency, was launched in 2009 to address the foundational problem of a non-native payment layer and centralized authority over one’s personal funds. Beyond that, there was no way to verify banks’ claims about their internal records. So, whatever the big banks said was final. These critical problems spurred Satoshi to create something verifiable by everyone.

Blockchain technology was developed to keep transaction records intact and verifiable by a global network of computers known as nodes, each having a synchronized copy of all transactions. That makes it impossible to tamper with these transactions without public evidence. And since there’s no foundational user, you would have to hack into various computer networks before you can manipulate the system. Eventually, the strength of blockchain makes it traceable by everyone.

While Bitcoin’s introduction eliminated the middlemen in the traditional finance sector by introducing decentralization through computer-based peer-to-peer systems, there’s no way you can utilize the technology without exposing your financial imprint online. That means all your transfers, including crypto net worth, and how many of your wallets are interconnected, can be broadcast online. So, the concept of anonymity is just another facade.

Why Most ‘Private’ Crypto Isn’t Actually Private: The Four Privacy Tiers

Anonymity in crypto is the level of untraceability required for privacy. There are four privacy tiers in cryptocurrency.

Pseudonymity: Pseudonymity means using a nickname or a different identity rather than using one’s real name. In cryptocurrency, wallet addresses maintain pseudonymity, contrary to traditional banks that only allow real and verified names. However, information and transaction records are all traceable publicly via on-chain activity.

Set Anonymity: Unlike pseudonymity, set anonymity is a step ahead in privacy. Instead of having a public record of data on the blockchain, set anonymity makes the data more private by making it anonymous to a group of people known as participants, but not everyone. This means that it’s not completely private, but the more users the data is protected from, the tougher its traceability.

Full Anonymity: Full anonymity ensures complete anonymity by concealing every referential detail that can lead to traceability on the blockchain. This means that every detail of a transaction is hidden to provide complete privacy.

Confidential Transactions: Blockchain may assist in keeping a transaction confidential. In confidential transactions, the transaction amount is kept private while other information remains public.

The Cryptographic Breakthrough Bitcoin Was Missing

In 2010, Satoshi Nakamoto, the founder of Bitcoin, publicly discussed Bitcoin’s flaws alongside other developers on the Bitcoin Talk Forum. According to Satoshi, blockchain transactions require encryption for privacy reasons. However, that would only be achievable if the encrypted transactions were still accurate. Satoshi then alluded to a technology that could be used to provide a solution called Zero-Knowledge Proofs (ZK Proofs).

Zero-Knowledge Proofs help to validate the authenticity of information without revealing the information itself. They are fundamental to making transactions private on the blockchain.

How ZK Proofs Work

ZK-Proofs ensure that the transactions you perform follow specific rules. For example, they ensure that a sender’s funds are available and authorized to send. Once confirmed, the transaction will be approved and encrypted. After encryption, the transaction will remain private on the blockchain. While such transactions may seem hidden, the validation stamp is known as a ZK-Proof.

ZK-Proofs prove the correctness or authenticity of a blockchain transaction without revealing any information inside. They are usually sent to the blockchain for verification after encryption. Once verified, they are anonymously saved on the blockchain.

The Rise of Privacy Coins: From Monero and Dash to Zcash

Privacy coins are cryptocurrencies created primarily as a digital payment method with more anonymity than Bitcoin.

Dash was the first-ever privacy coin. It was launched on January 18, 2014, by Evan Duffield, a software engineer, as a fork of the Bitcoin blockchain, that is, a minor tweak to the existing Bitcoin blockchain to make Dash faster, more private, and reduce fees. It was initially named XCoin before rebranding to Dash in March 2015. The cryptocurrency uses masternodes, which are transaction performers and top treasury decision-makers, and miners, who are transaction validators, to make transactions faster and anonymous.

In April of the same year, Monero was launched by anonymous developers. It was forked from Bytecoin, a protocol built on CryptoNote. Monero ensures privacy using Stealth Addresses, which generate a one-time address for each transaction to protect the receiver’s real address; Ring Signatures, which mix transactions among multiple users to conceal the sender; and RingCT, which hides transaction amounts from the public blockchain.

Zcash introduced advanced privacy in crypto. In 2013, four scientists named Matthew Green, Ian Miers, Christina Garman, and Aviel Rubin published a research paper, Zerocoin. It was an academic study that proposed a cryptographic extension to Bitcoin for anonymity.

Two years later, the Zerocoin team decided to launch Zerocash, a protocol that would implement ZK-Proofs to transcend their existing solution beyond a critical paper. To achieve this, the team reached out to Zooko Wilcox-O’Hearn, a privacy advocate and developer, to implement it. Zerocash created a company called Zerocoin Electric Coin Company (later renamed Electric Coin Company, ECC) and made Zooko Wilcox the protocol lead (CEO).

In 2016, Zooko Wilcox took the idea further by launching Zcash, a cryptocurrency that uses the existing protocol (Zerocash) to ensure full anonymity on the blockchain without jeopardizing integrity through zk-SNARKs.

What Are zk-SNARKs?

zk-SNARKs are cryptographic proofs that allow validation of information without revealing the underlying data. In this cryptographic system, the cryptography between the prover and the verifier is succinct; that is, it runs quickly (verified within a few milliseconds) and is non-interactive, using only a single request and response instead of constant messages.

Zcash: A Different Privacy Proposition

While privacy coins provide anonymity on-chain, they all differ in various ways. Zcash has a competitive edge among them with its privacy model.

Dash, for instance, mixes multiple transactions together through PrivateSend to make transactions harder to trace rather than hiding the data itself. Zcash, on the other hand, encrypts data through mathematical models such as polynomial equations (QAPs) over elliptic curves in a zk-proof system in a succinct and non-interactive way.

Although Monero provides complete anonymity, Zcash empowers users with its user-choice privacy approach, which is absent on Monero. On Zcash, users can decide whether or not to make their transactions private by choosing between transparent or shielded addresses.

The Recent Surge of Attention on Zcash’s Privacy Features

Zcash gained attention in the crypto ecosystem beyond market speculation. Its shielded address system demonstrates the capability of privacy in a digital world. Zashi, Zcash’s mobile app and extension, also makes it easy to switch between shielded and transparent addresses, perform on-chain transfers, and swap funds.

The rise in agitation for digital surveillance in recent times among governments and other institutions has increased the demand for online privacy. In Kenya, for instance, Amnesty International’s 2024/2025 report noted that the government had facilitated online threats and harassment against activists. Although the government denied these claims, such incidents reveal the risks associated with digital exposure.

Privacy in crypto puts users in control of their financial data. Angel investor Naval Ravikant highlighted on October 1, 2025, via X that “Bitcoin is insurance against fiat. Zcash is insurance against Bitcoin,” framing privacy as a protective measure in a highly monitored digital environment.

Zcash’s privacy features didn’t appear overnight. They are the results of several upgrades. Sapling (2018) enabled faster private transactions. Heartwood followed in (2020), allowing miners to receive rewards privately. In the same year, Canopy was introduced, restructuring how development is funded. NU5 (2022) introduced Halo 2 proofs and unified addresses to simplify private use, and NU6 (2024) improved the security of development funds. These changes matter not for branding, but because each one made privacy more usable and accessible on-chain.

The Future of Privacy in The Digital Age

Privacy is important for protecting digital identity in a world where online activities are actively monitored. According to CoinGecko statistics, privacy coins hold approximately $15.3 billion in market capitalization as of this writing, down from a $24 billion surge in November. The pullback reinforces the unpredictability of the cryptocurrency market.

Even with these fluctuations, privacy coins are facing regulatory scrutiny for Anti-Money Laundering (AML) and compliance. The back-and-forth with legal frameworks shows the rigorous environment in which privacy coins operate.

At the same time, the demand for privacy is growing in response to digital surveillance. Beyond transactions, privacy is rising in the blockchain ecosystem. For instance, Aztec, an Ethereum Layer-2 blockchain, launched Ignition Chain to provide full and verifiable privacy on Ethereum through ZK-proofs.

Web3 digital identity solution (DID)  is also reshaping how data is verified and stored online. Instead of exposing personal data to big tech companies or the government, where it is vulnerable to breaches and surveillance, projects like Mina Protocol use zero-knowledge proofs (ZK-Proofs) to verify data without revealing it.

A future privacy world means that individuals like Rachel, working in an oppressive environment, can contribute to social and economic development without the fear of digital exposure through external interference.

As privacy debates spike in interest, privacy coins can gain momentum. While blockchain serves as a technological tool for reshaping online data, it is not a “solve-it-all” solution. Online digital identity, NGOs, activists, and privacy enthusiasts must all contribute to safeguarding the digital economy.

NB: This article is for educational purposes only and not financial advice.

The Circular AI Business Model: A New Playbook for the AI-Driven Economy

By
Ndubuisi Ekekwe
-
0

Business model is the logic of a firm, and the engine room that determines how companies capture value in the marketplace. When new technologies emerge, history has shown that the winners are not always the inventors of the pure technology. Instead, victory goes to those who redesign business models, anchoring innovation on fresh pathways through which markets create and redistribute value.

Earlier today, I explained the rising Circular AI Partnership Model that OpenAI is pioneering. In this construct, investments, enterprise deployments, and AI capabilities reinforce one another in a tight, self-sustaining loop. OpenAI invested in Thrive Holdings, not merely as a capital move, but to embed AI systems into Thrive’s portfolio of companies, retrofitting them for higher efficiency and elevated performance. Thrive had already invested in OpenAI. Now OpenAI will power its enterprise operations. That is a circular loop, capital feeding AI, and AI feeding enterprise growth, which in turn feeds capital. A new business model is emerging!

A second example: Nvidia’s $2 billion investment in Synopsys. That partnership will redefine the scale and velocity of AI and computing engineering across one of the world’s most complex design industries. Jensen Huang, Nvidia’s CEO, captured the moment with characteristic clarity: “This is a huge deal… We’re about to revolutionize one of the most compute-intensive industries in the world.”

Nvidia on Monday revealed it has purchased $2 billion worth of Synopsys’ common stock, cementing a sweeping multiyear partnership aimed at transforming the speed and scale of computing and artificial intelligence engineering across one of the world’s most design-intensive industries.

The investment — executed at $414.79 per share — forms the financial backbone of a collaboration meant to accelerate compute-heavy applications, advance agentic AI engineering, expand cloud access, and drive joint go-to-market initiatives, according to both companies. The market reaction was immediate: Synopsys stock rose 4%, while Nvidia gained 1%.

Their ambition is bold: shrink the cycle between chip design through chip manufacturing and AI model optimization. Good People, this may be one of Nvidia’s most consequential strategic moves. Why? Because before an Nvidia chip ever ships, EDA companies like Cadence, Synopsys, and others, must design and validate it. If these companies do not accelerate, Nvidia cannot advance. Nvidia’s trajectory is bounded by its upstream bottlenecks!

So, by investing in Synopsys, Nvidia is not merely buying stock; it is upgrading its supply chain, compressing time to market, and strengthening the foundational hardware layer needed to power the AI age. This is how modern technology empires are built: own the compute, shape the tools, and accelerate the pipelines that forge your future.

In 2021, in Harvard Business Review, I asked “Is Your Startup Doing Everything It Can to Capture Value?”. In that piece, I emphasized that value must not just be created; value must be captured. Today, AI companies are rethinking how they capture value. And to do that, they are inventing a new genre of business models.

Welcome to the Circular AI Business Model, the architecture that will power the AI-driven economy.

OpenAI’s New Playbook: Turning AI Partnerships Into Enterprise Wealth

1...777879...7,951Page 78 of 7,951

© Tekedia. All rights reserved.

Term & Privacy

© Tekedia. All rights reserved.

Term & Privacy