Uber settles lawsuit | TECH(feed)

hey everyone welcome back to tech feed i’m
juliet beauchamp. today we’re looking at proposed antitrust
measures in the u-k, uber settling a drawn out lawsuit and how blockchain may disrupt
the finance industry–but maybe not in the way you think. stick around. the british government wants to crack down
on big tech, according to a report order by the u-k’s top treasury official. the report focused on the apparent need to
strengthen antitrust laws and encourage competition. it also called for more rules regarding acquisition. an antitrust law overhaul would lead to more
choice for consumers and encourage innovation, according to the report. of course, any antitrust laws would need to
be reviewed and passed by parliament. this u-k report is part of a larger trend
of governments attempting to regulate the previously little-regulated tech industry. the e-u of course has slapped giants such
as google and amazon with fines for violating antitrust laws and passed g-d-p-r to enforce
stricter user privacy. governments and politicians in india, france,
germany and the united states have toyed with and/or enforced rules to more strictly regulate
the tech industry. there may be a new use case for blockchain
in the finance industry–but it doesn’t necessarily relate to cryptocurrency. swift, which is the organization behind many
of the world’s international money and security transfers, said it will deploy a blockchain
proof-of-concept in the asia pacific region to aide its clients’ shareholders voting
process. distributed ledger technology will make it
easy and secure for shareholders to vote on corporate decisions electronically. the proof of concept will roll out during
the first half of this year. and ahead of plans to go public, uber has
settled a years-old lawsuit with some of its drivers. the suit was filed in 2013 and represents
some drivers in the states of california and massachusetts who wished to be recognized
as uber employees rather than as independent contractors. uber agreed to pay the drivers 20 million
dollars, but drivers will remain independent contractors. uber also pledged to make its driver removal
process more transparent. the attorney representing the drivers said
the settlement was “substantial.” she estimates each driver will receive about
37 cents per mile driven with uber. uber originally settled this suit in 2016, but a federal judge
threw it out. it’s expected that uber will offer its drivers
a chance to buy shares in the company at its i-p-o. thanks for watching today’s episode of tech
feed. if you liked today’s show give this video a thumbs up and subscribe to our channel…
see you next time.

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