Iceland Takes Delivering Goods To A Whole New Level

Iceland Take Delivery Of Goods To A Whole New Level

Iceland’s largest online marketplace Aha has recently partnered with Flytrex, an Israeli drone company to expend its delivery options. Aha can now deliver goods to two part of the city of Reykjavik that are separated by a wide river. using the drone delivery method.

In the long run, Aha will be saving a lot of time and cost using the drone delivery method. Without the drones, Aha usually has to drive around a large bay to get to certain addresses in Reykjavik, the capital of Iceland. With the help of the drones, Aha now only uses a single route to pass the bay and get to its customers address. An example would be, an employee of Aha will launch a drone at the nearest hub to the store it needs to pick up from. From there, the drone will fly to the second hub, closer to the customers location and from there another one of Aha’s employees will then pick it up and deliver it to the customers doorstep. Aha’s plan for the future is to deliver orders using the drones that are hook, Technology, Fled on to wires that can lower the deliveries into the customers very own backyard.

With the help of Flytex’s drones, Aha will be able to deliver its items six times faster compared to a car in heavy traffic. For a start, the system is only doing a delivery at a time. However, multiple deliveries are possible.

The Real Deal!

For everyone who think that this is only a temporary project, think again. Aha has emphasized that this is a PERMANENT service offered by the Icelandic online market place. Both Flytrex and Aha have received approval from the Icelandic Transport Authority to deliver food and products from shops to its customers in Reykjavik.


Article originally written by Karen Gilchrist and posted on CNBC on the 23rd/8/2017


Investment Dollars Pour Into India’s Ecommerce Sector

In recent months, Japan-based telecom firm SoftBank Group has used its seemingly bottomless pockets to heave significant amounts of cash around Asia-Pacific’s tech sector. Those investments have come both through the company itself, as well as the SoftBank Vision Fund, an investment fund that also includes partners such as another fund operated by Saudi Arabia’s government.

India’s ecommerce platform Flipkart became the most recent recipient of SoftBank’s largesse, securing $2.5 billion—yes, billion—from the Vision Fund made via primary and secondary share purchases, according to a report in Reuters. (Both SoftBank and Flipkart declined to detail the exact amount of funding.)

The Vision Fund’s recently reported investment was also part of a $1.4 billion round Flipkart drew in April from a group of investors that also included Tencent, Microsoft and eBay. All in all, the investments leave Flipkart with more than $4 billion on its balance sheet to spend.

For those left agog at the sheer magnitude of those figures, any surprise might be mitigated by the fact that Amazon, Flipkart’s largest rival in India, has pledged to spend $5 billion on its efforts in the country over the next few years.

Another ecommerce platform, Paytm E-Commerce, is considered a significant player in India thanks to the financial backing it’s received from Chinese ecommerce giant Alibaba. But SoftBank is also a stakeholder in digital payments-focused Paytm, investing $1.4 billion in the company in May and further complicating dynamics within the sector.

Meanwhile, Flipkart’s onetime largest rival, Snapdeal, is in the midst of a reorganization that will leave it slimmed down following the recent collapse of acquisition talks with Flipkart.

Flipkart and Amazon’s massive reserves of cash have left the pair as the two largest generalist retailers in India, a market with substantial retail ecommerce growth potential.

According to data from Bank of America Merrill Lynch, Flipkart is expected to control a 43% share of retail ecommerce sales in India this year, compared with Amazon’s 31%.

eMarketer estimates that retail ecommerce sales in the country will total $22.35 billion this year, but account for just 2.2% of total retail sales. Though sales will increase to $54.63 billion by 2021, they will still make up a small sliver—3.2%—of all retail sales.

International players like SoftBank and China-based tech firms such as Tencent and Alibaba are intent at getting in on India’s ground floor. SoftBank learned that lesson well when it invested $20 million in Alibaba about seven years ago, a stake that’s now valued at around $100 billion.

SoftBank seems intent on spreading at least some of the $93 billion in capital raised by the Vision Fund to emerging tech firms operating in markets in Asia-Pacific. In April, the firm funneled about $260 million through a subsidiary to the parent company of Ola, India’s largest homegrown ride-hailing service.

In addition to Ola and Paytm, SoftBank has also invested in Singapore-based ride-hailing service Grab, with which it participated in a $2.5 billion funding round in July.

This article first appeared in eMarketer on 10th August 2017 written by Rahul Chadra

Ransomware Scams Have Raked in $25 Million

If you’re an owner of a business site, you’d best find out what are the necessary precautions that your ecommerce service provider is taking to secure your site. Because till date,  it looks like ransomware scams have raked in a whopping $25 million worldwide!

Because the last thing you want to happen is to get locked out of your site or have no access to your own emails and crucial accounts. That’s one of the main reasons why victims have no choice but to pay up to get back access to their digital accounts.

Ransomware is now a multimillion-dollar black market; the most prevalent ransomware strains have netted a total of $25 million, according to a study from Google, bitcoin security firm Chainalysis, the University of California at San Diego, and New York University.

The ransomware ecosystem is currently “dominated by a few kingpins,” like Locky and Cerber. Locky, the first ransomware to make more than $1 million per month, has raked in $7.8 million. Cerber, which ushered in the rise of ransomware as a service, is right up there as well; the strain accumulated around $200,000 per month for more than a year and $6.9 million to date.

CryptoLocker, CryptXXX, SamSam, CryptoWall, AlNamrood, TorrentLocker, Spora, CoinVault, and WannaCry are also raking in the cash.

Exacerbating the problem is the fact that just 37 percent of users back up their data, the study notes.

Just last month, a global ransomware outbreak known as Petya had government agencies and private businesses around the globe scrambling to get their systems back online and recover their data. That outbreak came after hundreds of thousands of PCs were attacked by WannaCry.

Malwarebytes late last year analyzed nearly half a million ransomware incidents to identify the 10 US cities most victimized by the threatening software. Las Vegas topped the list with the most ransomware detections overall, the most detections per individual machine, and most detections per population.

“Cybercriminal gangs have already saturated both the rural and urban US populace with ransomware, yet they are constantly improving their tactics, execution and business model to evade detection by current solutions,” Malwarebytes’ Head of Malware Intelligence Adam Kujawa said in a statement at the time. “With millions of dollars being handed over to cybercriminals, ransomware will only increase in prevalence.”

Most cyber-security experts warn ransomware victims not to pay up. Petya, for example, was thought to be wiper malware disguised ransomware; the email address associated with the scammers was inactive. For more, check out How to Protect and Recover Your Business from Ransomware.