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Facebook said on Monday that it will hire 10,000 people in Europe to help it build a “metaverse.” The concept of the metaverse is quickly becoming a buzzword in technology and business. But what does it mean? WHAT IS THE METAVERSE? Many science fiction books and films are set in fully-fledged metaverses – alternative digital worlds which are indistinguishable from the real physical world. But this is still the stuff of fiction. Currently, most virtual spaces look more like the inside of a video game than real life. Metaverse is a broad term. It generally refers to shared virtual world

Pat Kinsel, 36, started Notarize after selling his previous company in 2013 and realizing that the notary had failed to sign his documents. Without the signature, the documents became invalid, despite being stamped, a major headache for Kinsel. Two years later, he founded Notarize to move the hassle of notarization online. Two years later, he founded Notarize to move the hassle of notarization online. With Notarize’s online service—including proprietary identification verification tools—customers can skip the trip to a notary and connect with a professional via video chat instead. To start the business, he had to convince state and local regulators

El Salvador became the first country to embrace Bitcoin on September 7, 2021, when it became legal tender. The move has converted the Central American country into the world’s first national experiment in using the often volatile currency, which is gaining popularity among investors and speculators throughout the world. Bitcoin’s price fell sharply after El Salvador announced the move, recovering slightly by early afternoon Tuesday. In 2001, El Salvador’s Law of Monetary Integration set a fixed rate of exchange between the U.S. dollar and that country’s monetary unit, the colon. While the colon technically remains legal tender, it is no

According to The Street Journal, Amazon plans to open several large physical retail locations in the U.S. that will operate akin to department stores, a step to help the tech company extend its reach in sales of clothing, household items, electronics and other areas, people familiar with the matter said. The plan to launch large stores will mark a new expansion for the online-shopping pioneer into bricks-and-mortar retail, an area Amazon has long disrupted. Amazon is stepping up its move into bricks-and-mortar retail Some of the first Amazon department stores are expected to be located in Ohio and California, the

Energy Transformation | Mercedes-Benz To Spend $47 Billion for Electric-Only Lineup LONDON — The European Union detailed on Wednesday how it will reduce greenhouse gas emissions in the coming years, with the plan potentially revolutionizing many sectors from air travel to shipping. The 27-member bloc has vowed to become carbon neutral by 2050 and to reduce its greenhouse gas emissions by at least 55% by 2030 from 1990 levels. The autos sector is one of the hardest hit by the new rules, with the commission proposing a de facto ban on diesel and gasoline cars by 2035. A senior EU

The global electric vehicle (EV) market is witnessing significant growth in the coming years as electric vehicle adoption rates rapidly escalate year-over-year across the globe. Therefore, this is considered a potential market for giants to invest in, typically Tesla. Most recently, Foxconn and Vingroup have also entered this new market. Terry Gou, founder of Foxconn. Simon Song/ South China Morning Post via Getty Image What is Foxconn? Foxconn is the world’s largest electronics contract assembler. As of 2012, Foxconn factories manufactured an estimated 40% of all consumer electronics sold worldwide. In order to strengthen the technology race, Foxconn began discussions