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Visa and Coinbase debut a crypto debit card, plus, gearing up for Uber’s IPO | TECH(feed)


Hey everyone, welcome back to tech feed. We’re back after a week off, and today we’re diving into apple’s upcoming software update, a new debit card for cryptocurrency and new details about uber’s finances. Stick around.

By now you know apple will be rolling out its new services in the coming months, but it’s important to remember that with these apps come software upgrades. Ios 12.2 rolled out right after the apple showcase last month, and ios 12.3 is now in beta testing. The big change coming to ios 12.3 is the updated tv app. It will incorporate some features from apple’s new tv service, including the ability to watch content from third-party streaming services within the app. There will also be a few minor tweaks related to design. The update may roll out in may. The update will not include the new original apple tv plus programming–those original movies and shows are likely to come out this fall.

We’ve got another story about crypto collaborating with the financial services industry–this time in the form of a debit card. Visa worked with coinbase to create a debit card linked to a person’s cryptocurrency balance. It’s called the coinbase card, and it converts a person’s crypto balance into pounds, euros or u-s dollars. Bitcoin, x-r-p, litecoin and ethereum will all be spendable with the coinbase card. Customers can view their balance on an app, and the card is usable anywhere in the world that accepts visa. This debit card is big news for crypto–for one, it’s a practical, real-world use for cryptocurrency. Anyone who owns bitcoin can now spend it just about anywhere. And customers in countries with high inflation can turn to crypto as an alternative. It all ties back to bitcoin’s original intended purchase: electronic payment.

Uber released its finances in a prospectus last week, ahead of its long-anticipated public offering. The prospectus revealed the ride-hailing giant lost 1.8 billion dollars last year on a revenue of 11.3 billion. This confirms what many already know–uber, like its competitor lyft, is deeply unprofitable. Despite the prospectus, uber will likely see a valuation of around 100 billion dollars, which is the highest valuation in about five years. Its main u-s competitor lyft went public last month with a valuation of 24 billion dollars. However, lyft, much like uber, is currently unprofitable. Its market shares fell below offering price in its second day of trading. As uber gears to go public likely next month, expect to hear more about when the company may turn a profit.

Thanks for watching today’s episode of tech feed. For more on these stories, check out the links below. And let me know in the comments if you’ll be investing in uber–is it worth it? See you next time.