Daily Archives: April 6, 2022

DELAWARE CITY, Del., April 06, 2022 (GLOBE NEWSWIRE) -- SourceLess is a revolutionary technology that uses Distributed Ledger, Peer-to-Peer connections and Str.domain as the account identifier to connect every human and every existing Blockchain, in a Web3 platform, creating the first World Wide Blockchain under SourceLess Platform.

The World Wide Blockchain (WWB) is an information system where documents and other web resources are incorruptible through end-to-end encryption, identified by a SourceLess Domain (domain, such as STR.example) and are accessible on the internet using the SourceLess platform. Web3 resources are transferred via Distributed Ledger and Peer-to-Peer technology and can be accessed by users through a software application, called the SourceLess Platform. The World Wide Blockchain is not equivalent to the Internet, which preceded the Web in one form or another more than two decades ago and is based on associated technologies.

SourceLess team of experts will help anyone select the perfect blockchain domain name, register it and make sure it is protected by SourceLess Blockchain.

Blockchain allows a secure and effective way to place the blockchain domain's ownership for life on the public register and free it from the control of any human being or central authority.

Blockchain software together with Distributed Ledger Technology, and Web 3.0 ecosystem usingSTR.domains, are creating a new web platform with protocols different from the www, encrypted and decentralised.

The ecosystem on which SourceLess is based will not allow the execution of any malware or computer virus; based on the blockchain features, the blockchain identity will not allow any malicious attempts on the Internet, and the digital identity will be a White Label product using KYC and AML protection and will not allow identity theft, so the information will be protected by Blockchain, DLT, and Peer-2-Peer network with 256-bit encryption, from Web2 to Web3.

The SourceLess Platform can store all types of data and provide addresses for a wide variety of use cases, from identity registration to starting a decentralized business. The system is designed to make it easy for anyone to access the blockchain without having to understand all the details of how it works.

The founders of SourceLess Blockchain are a trio of experts in three different areas, bringing full benefit to the project.

Alexandru Stratulat, founder of Sourceless, is a Blockchain Architect & DLT Software Engineer.

Iulian Bondari, co-founder of SourceLess, is an expert in advertising production, web and graphic design.

Bogdan Voinea, co-founder of SourceLess, is a businessman with a unique vision, having great experience in business development.

More details about SourceLess and the team behind it:https://sourceless.io/team

Stay close to the biggest technology event in 2022, Dubai SourceLess Week.The power to shape the world!

Iulian Bondarimarketing@sourceless.io

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SourceLess Blockchain, a New Technology With Real Potential - Creating the First World Wide Blockchain - GlobeNewswire

ASHBURN, Va.--(BUSINESS WIRE)--DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services provider, has been named a Leader by research firm Everest Group in its PEAK Matrix for Life and Pensions Insurance Business Process Services/Third Party Administrators Service Provider 2022 report.

DXC provides a range of solutions to the insurance industry including business process services (BPS) and insurance software. It also serves as a licensed third-party administrator (TPA) in the U.S. and licensed broker-dealer in Canada, using its deep expertise in compliance and regulation.

The report acknowledged DXCs position in the life insurance and pensions market with its highest designated category, noting the following:

Recognizing DXC as a Leader and giving us high marks for our vision and strategy reinforces the strength of our insurance services and platform-led approach, said Ray August, president, Insurance Software and Business Process Solutions. We will continue to invest in our life and wealth solutions, helping our customers bridge from the old to the new to better serve their customers and grow market share.

DXC has continued to maintain a strong position in the L&P insurance BPS/third-party administrator (TPA) market, with its large and expanding clientele, commitment to developing IT/BPS synergies through its proprietary BPaaS capabilities, and end-to-end scope of services, said Somya Bhadola, Practice Director, Everest Group. A balanced and customized strategic approach across new, active and closed blocks demonstrates DXCs commitment to this market and positions it as a Leader.

This Everest Group report assessed 20 providers based on their vision, capabilities and market impact across North America, and categorized them as Leaders, Major Contenders or Aspirants. DXC was one of only five Leaders, a position the company has held for the past 7 years when the report launched.

A custom version of the Everest Group PEAK Matrix for Life and Pensions (L&P) Insurance BPS/TPA Service Provider 2022 is available here. DXC was also recently recognized by Everest as a Leader in its Cloud Services PEAK Matrix Assessment 2022.

About DXC Technology

DXC Technology (NYSE: DXC) helps global companies run their mission critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. The worlds largest companies and public sector organizations trust DXC to deploy services across the Enterprise Technology Stack to drive new levels of performance, competitiveness, and customer experience. Learn more about how we deliver excellence for our customers and colleagues at DXC.com.

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DXC Technology Named a Leader in Everest Group's Life Insurance and Pensions Report - Business Wire

College of the Canyons has received a $4,750 donation from The Rotary Club of Santa Clarita Valley in support of the colleges automotive technology program.

The donation will fund four scholarships for COC auto technology students during the fall 2022 semester.

We are very grateful to The Rotary Club of Santa Clarita Valley for this donation and their continued support of our students and program, said Nadia Cotti, dean of applied technologies at the college. These scholarships will help ease the financial challenges faced by many students by covering the cost of textbooks, equipment and other materials required to complete the auto technology program.

The colleges automotive technology program is designed to prepare students with the entry-level skills needed for an automotive technician position in a variety of settings including dealerships, independent automotive repair facilities, as well as with county or federal agencies.

The program offers certificate and degree pathways that range from one semester to two years in length allowing students to get into the workforce quickly by providing in-depth training with extensive hands-on experiences in all nine Automotive Service Excellence certification programs and State of California Smog Tech Training.

The donation was presented to the college on March 23 by SCV Rotary Vocational Chair Linda Pedersen.

Founded more than 50 years, The Rotary Club of Santa Clarita Valley aims to complete projects that have a lasting impact in the community and beyond.

The College of the Canyons Foundation is a non-profit 501(c)(3) auxiliary organization supporting the college district by generating funds to support programs for student success and innovation. The foundation provides financial resources for scholarship endowment, educational programs, and capital improvements, which can mean the difference between ordinary and extraordinary programs and services.

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COC Automotive Technology Program Receives Donation from The Rotary Club - SCVNEWS.com

Auto Finance Excellence - April 5 2022

The Consumer Financial Protection Bureau (CFPB) recently issued two bulletins highlighting its concerns with business practices in the auto finance and servicing industries as a result of inflation and the potential for increased vehicle prices to exacerbate risky repossession practices. In these bulletins, the CFPB indicated that it will be closely monitoring unfair and deceptive acts or practices (UDAAP) in the auto finance industry that automobile finance and servicing companies should be aware of, particularly regarding the use of technology and in the repossession context.

The CFPB highlighted several areas of concern in automobile lending in its recent blog post titled Rising car prices means more auto loan debt. Technology and its impact on consumers, particularly when it comes to how the use of technology may disproportionally impact certain communities, was a primary focus of this bulletin.

Specifically, the CFPB referenced concerns about lenders requiring access to GPS locators so that they always know where a car is physically located, technology that blocks a borrower who has missed even one payment from starting the car, or license plate recognition (LPR) technology.

So what steps might the CFPB take to further investigate the impact technology has on consumers? Automobile finance and servicing companies can expect the CFPB to utilize its supervisory and examination authority over larger participants in the automobile financing market and conduct an examination of businesses practices and procedures with respect to the use of technology. An automobile finance company subject to such an examination can expect the CFPB to utilize its UDAAP standards to identify conduct that misleads or is likely to mislead a consumer, causes a substantial injury to a consumer and is difficult for a consumer to understand, among other factors.

Ensuring that your company has a compliance management system in place that is tailored to the companys size and business model will help ensure that any such examination goes as smoothly as possible. After all, the CFPB is not only looking for some violation of the law when it conducts such an examination but also is looking to ensure that the business has the necessary tools in place to self-identify and remedy any violations.

On Feb. 28, the CFPB also issued Bulletin 2022-04, Mitigating Harm from Repossession of Automobiles, which highlights a number of acts and practices in the context of repossessing consumer vehicles that it considers a UDAAP violation.

The Bulletin highlighted the Bureaus concern with auto service providers offering loss mitigation options to consumers to avoid repossession but then failing to stop a repossession when a consumer elects such an option. As an example, the Bureau highlighted a recent enforcement action where an automobile finance company allegedly repossessed hundreds of consumers vehicles after the consumers complied with the loss mitigation options offered to them. That enforcement action resulted in $1 million in damages and a civil monetary penalty of $4 million, along with certain equitable relief.

The CFPB also noted that recent supervisory examinations had uncovered systemic issues in this area, where repossessions that should have been canceled or stopped due to loss mitigation were not.

Auto finance and servicing companies should work to ensure that their business practices, policies, and procedures avoid such actions, especially on a systemic basis. The Bureaus release of this bulletin highlights the Bureaus concern in this area and signals its intent to more closely monitor potential UDAAP violations in connection with motor vehicle repossessions.

The Bankruptcy Code imposes an automatic stay that bars collection activity, like repossessing a vehicle, the instant a consumer files a bankruptcy petition. The CFPB indicated that it found numerous servicers violated the automatic stay by failing to halt repossessions, an act it considers unfair and deceptive. Such activity could give rise to an enforcement action by the CFPB; it could also result in an order from the bankruptcy court seeking to hold the auto finance or servicing company in contempt for violating the stay order.

The CFPB also highlighted its concern with auto servicing companies providing incorrect information to a consumer, which ultimately led to repossession of a vehicle. For instance, the CFPB noted that through its supervisory authority, it found that auto loan servicers sometimes conveyed the incorrect amount needed to avoid repossession to a consumer, leading to repossession when the consumer paid the incorrect amount.

The Bureau also expressed concern with misapplied payments leading to repossession. As the CFPB noted, payment application is usually governed by the retail installment contract between the parties. However, the CFPB found through supervision that some companies were not applying payments in the order specified by the contract. Rather, they were applying payments in a different order (e.g., to late fees first), which led to some consumers being deemed more delinquent and, ultimately, to repossession of the vehicle.

Similarly, the CFPB identified issues with unlawful fees being charged to consumers, which ultimately led to default and repossession of a vehicle. As an example, the CFPB highlighted a recent enforcement action for UDAAP violations where the business obtained lender-placed insurance policies when they were unnecessary and, in some cases, continued to maintain the lender-placed policy even when the consumer provided proof of coverage. These unnecessary fees sometimes led to a default and repossession of a vehicle.

Finally, the CFPB expressed concern with post-repossession fees that could constitute a UDAAP violation. Specifically, the CFPB found that some companies charge a fee for storing personal property found in a repossessed vehicle. The CFPB has brought at least one enforcement action targeting this behavior. Its most recent Bulletin goes a step further, indicating that a storage fee charged by a repossession company that must be paid prior to return of personal property could be considered a UDAAP violation by the auto finance or servicing company.

The Bureaus actions evidence a clear intent to prioritize investigating and prosecuting auto finance and servicing companies for UDAAP violations in the age of inflation. To avoid finding yourself the subject of an enforcement action (or to ensure a smooth supervision/examination process), lenders can work to ensure they are UDAAP compliant by closely reviewing policies, procedures, and contractual documentation and consulting with experienced counsel.

This article is the second in a two-part series. Read the first part here.

This article was first published in Auto Finance Excellence, a sister service of Auto Finance News. McGlinchey is pleased to serve as the official Compliance partner of Auto Finance Excellence, providing insights and thought leadership through webinars, podcasts, and monthly columns.

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CFPB eyes unfair, deceptive acts: Technology and repossessions - JD Supra

MESA, AZ On a plot of land in Mesa, rows of hydro panels whir as they work to convert sunlight and air into drinking water.

The hydro panels belong to SOURCE Global, an Arizona-based company founded by Arizona State University professor Cody Friesen in 2015.

Basically, we created a special material that goes in our panels in a lab at ASU and spun that into a solution to try and solve the world's drinking water crisis, said Tom Borns with SOURCE Global.

A traditional solar panel powers the entire hydro panel, which measures four feet by eight feet. Two thermal panels flank either side of the machine, creating a warm environment inside the hydro panel.

They're taking in as much thermal energy as possible. And essentially what we're trying to do is make the environment inside the panel as hot as we can, Borns said.

A fan on the backside of the panel draws in ambient air laden with moisture, according to Borns. The cool, moisture-laden air enters the hot machine, where it becomes liquid H20. The technology inside the panel mineralizes the water with calcium and magnesium and adjusts the pH level.

From there, the water is ready to go from a 31-liter reservoir inside the hydro panel and into someones tap or water bottle.

Our goal is to make drinking water an unlimited resource and make it so that people here in the United States and everywhere around the world don't have to worry about what they're going to do for the most important resource that they possibly can have, Borns said.

Currently, SOURCE Global operates in 52 countries, providing water to communities in Dubai, South Africa, the Philippines, and even the Navajo Nation.

Borns said the water yield of a single panel is dependent on the weather, but they can typically create between seven to 11 gallons of water a week. The hydro panels last up to 15 years and can create water in areas where the ambient humidity is as low as 7%, according to Borns.

This was a technology that was born out of the desert and designed to work in dry, dry climates and harsh climates, Borns said. This is definitely a step in solving the world's water crisis. And the reality of it is because this is something that's so easily deployable, we can put this anywhere that the sun comes up and we're able to make water.

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Valley company uses technology to create water using sunlight and air - ABC15 Arizona in Phoenix

The aviation industry, including the private jet sector, have been dealing with the issue of empty legs and repositioning flights. Private jet hailing app TailHail aims to utilise technology to provide passengers with access to empty legs, limiting resource wastage.

Regulations requiring UK airlines to use their airport slots for a minimum of 80% of the time were suspended during the Covid-19 pandemic to preserve some competition amidst restrictions. However, TailHail suggests that data has shown nearly 14,500 empty/near empty flights went ahead between 2020 and 2021.

James Moon, founder and CEO of TailHail, says: With all the technology we have been creating, it has been addressing the pain points that currently exist in the sector from an operators point of view and user point of view.

It is clear that there are a lot of inefficiencies that exist, such as aircraft flying empty, which is not ideal given the current climate, and that is what we have been focusing on.

TailHails new website will launch this month and the app will follow in early May, with the aim of overcoming issues associated with booking flights within the private aviation sector.

At the moment the industry is narrow in terms of what is available. What we are trying to bring to market is a variety of options. Choice is a core principle that we are working on, says Moon.

TailHail aims to have bookings of private jets completed quickly, within seconds or minutes, to make the process less time consuming. The platform would handle the bookings digitally. The current process is a manual one which entails submitting a flight request and waiting for someone to respond. It also involves scrolling through PDFs to find a flight.

With TailHail, once a flight request is submitted the user will be matched to an approved aircraft. The platform offers users the opportunity to view more aircraft than they would if they were using a broker.

TailHail also expects that by filling seats on empty leg flights rather than by a direct charter, the carbon footprint of each flight will be minimised.

What we are doing is putting it in the digital world, making it easier to understand and making it transparent, says Moon.

With a geolocating feature, in future TailHail expects to provide users with private flight sharing opportunities near their location. The app will help operators push surplus capacity while dealing with on demand charter flight requests.

Moon says: Our sector has been left behind and we are bringing new technology to market which will be a constantly evolving process. There are a lot of companies who claim to be the Uber of aviation but they do not have the technology to back it up.

Due to concerns surrounding hygiene, raised during the pandemic, there has been in an increase in first time private aviation users. This includes families, individuals and businesses who have realised the benefits of flying privately.

The private aviation sector can benefit from the fact that while confidence in travel is growing, people remain cautious and prefer to avoid crowds.

Moon says: Through our platform and unique algorithm users will be able to see a wide range of aircraft that match their profile. One of our key findings is that users think they have to fly from one of the big airports that are nearby, but private aviation offers the chance to fly from a different airport which may be closer to their departure point.

In the US, commercial airlines serve 500 airports but private aviation can reach 5,000. In the UK, private aviation is seen as luxury but elsewhere it is seen as a necessity.

TailHail expects to release a flight sharing functionality soon, this could lower prices of flying privately and also has the benefit of building a community within the sector.

With regards to the private aviation sector, in the US there were around 300,000 flights just in the last month compared to 8,000 in the UK.

Moon says: Flight sharing is prevalent in the US but not here in the UK, it has not been explored properly. We feel we can capitalise on a market that is there to be taken. There is a lack of understanding here.

A number of people we have spoken to are sometimes surprised that they can afford to fly private.

First class flyers and business class flyers would be interested, but the current processes are off-putting. Its not like booking an airline ticket and we want to make it that simple through our platform.

Mobile Passenger Services and Operational Software and Hardware

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Empty leg flights and the role played by technology in reducing them - Airport Technology

Education is the pioneer of success. Education has changed the lives of many people in India whether it be any class. And, thats how Education should be bestowed upon every child. In the world of mobile phones where everything happens on a click, now getting education in just one click is something which has benefitted a lot of bussing students. The exposure of edtech is booming hence, India is also inclining towards education technology. Many of the organizations have taken the challenge of democratizing education of India under the aegis of Edtech.

In India more than providing education, consumption is difficult and vital. The education gap of India between tier 1, tier 2 & tier 3 cities is amplifying, which needs to be altered. Tier1 & 2 cities have easy access to education, teachers, and lecturers whereas, in the tier 3 cities, villages or remote areas are still dont have the set quality education, well-qualified teachers, and the tools. In India, the Education system has grappled with several issues in the past few decades; therefore the need to bring about a reformation in the education system has been a crucial point of deliberation over the past few years. With a vision of social enterprising approach, the leaders in the industry are bringing socio-economic change to the Education system. Edtech applications in the current time are widening over the last decade, and digital learning has started spreading across schools and classrooms. But, it took covid to truly understand the importance of digital learning where the industry saw a major hike in edtech, as schools were shut and they also went for online studies. The importance of educating students online, anywhere-anytime got the spotlight and is booming since then. In the digital world, where students are thrust to the screen for education, providing each family with adequate internet and smart phones are some necessary measures that need to be fulfilled to create equity and ensure that all Indian children may learn.

According to a Praxis-IVCA report, the Indian edtech market was pegged at $117 billion in 2020, expected to grow over two-fold to touch $225 billion by FY25. The industry is bombarding as the magnitude of inequality in Education has been revealed. Startups are striving for the welfare of the mass public since education unites us all together. The better educated you are, the better future you can pave for yourself. Theres one old saying, one educated person in the family, transforms the lives of the family. The simple statement weighs so much, making us realize the importance of education. When your childrens education is at stake you can afford to buy a smart phone and provide the bundle of knowledge to children, the first step towards your childs success.

In the edtech apps, content is crucial and important part, interestingly its the most fun part. The visuals, 3D animations, videos by well-educated teachers, mcqs, chapter wise questions, books, and many more are compiled in just one app, thats the privilege of technology. The edtech apps are not limited to academics, the knowledge is abundant. It includes art, dance, music, music instruments, creative science assignments, coding, computer languages, and much more to explore to give your kids the platform to scout the option according to their respective interests. Customization of learning is being popular in the digital space. The edtech app made it possible for students to personalize their education by using AI and technology. Personalized education gets student more intrigued in learning, making it easier for the student to learn according their pace, up to their potential. AI helps the students to schedule, plan their work for the day. Now the challenge is to reach the rural areas or the children belonging to BPL families and to provide them with education they can sustain. So, the industry is more focused on rural areas of India, to reach the remote areas and educate the mass students to build a better future of India. This can be achieved with affordable education without compromising in the quality front. Edtech industry will bring about the change that India has been longing for.

According to Indias National Education Policy, the countrys children have poor foundational learning levels with half the students who have spent five years in schools barely possessing basic numeric and literacy skills. There are only 1.5 million schools with about 250 million students enrolled in our country. According to a survey, 37% of students in rural and 17% in urban areas doesnt study at all. As education should reach remote areas, villages, and areas of the low network. In many cases children study till high school and then drop education to join hands with their parents or find a job for money. Even girls are not sent outside many times for education. Edtech has become one solution for all. The child can educate online with the liberty to do any job, study from anywhere, and still be able to get all the knowledge. Its time saving as well as leverage of study anywhere and anytime you want. With the dream of democratizing education in India, it should be made affordable. For all classes of people, education should be one. In India, 20.8% percent of people are below the poverty line, which makes it difficult for the family to provide quality education. Hence, affordable education should be the first priority of the startups coming forward. And it is necessary to make education democratize and in order to fulfill the vision of educated India. The edtech is slowly penetrating in remote areas as well.

To make use of technology in education stick, it cant be companies alone that forge a thorns pathit requires corporates, governments, NGOs and educational institutes to work together to deliver better learning outcomes. The solution should focus on a one-off use, we need to leverage technology to instill a mentality of lifelong learning within our citizens to ensure they arent rendered irrelevant despite being educated. The industry is striving to mark its way in digital learning. The better India, educated India.

Views expressed above are the author's own.

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Bridging Indias education gap with the adoption of technology - Times of India