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News on Medial
ONDC logs meteoric rise; challenges are climbing fast too
Economic Times
·
1y ago
Medial
The Open Network for Digital Commerce (ONDC) saw a significant surge in transactions, reaching over 3.3 million cumulative transactions in September. This is a considerable increase from just 1,000 transactions in January. ONDC, a government-backed open platform for hyperlocal ecommerce, aims to decentralize ecommerce in India and promote the participation of small sellers and buyers. However, as the platform grows, it also faces numerous challenges.
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ONDC logs 14 million transactions in October, cuts incentives
Inshorts
·
8m ago
Medial
Open Network for Digital Commerce (ONDC) recorded 14 million transactions in October, a 7.6% rise from 12.9 million in September and a 200% increase from 4.5 million in October 2023. Recently, ONDC slashed the maximum incentive for network participants by 84%, reducing it from ₹2.5 crore to ₹40 lakh.
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Riding On Festive Season, ONDC Logs 14 Mn Transactions In October
Inc42
·
8m ago
Medial
State-owned Open Network for Digital Commerce (ONDC) recorded a 7.6% increase in monthly transactions, reaching 14 million in October. This represents a significant 200% surge from the same period last year when there were only 4.5 million transactions. However, ONDC recently reduced the maximum incentive limit for network participants by 84%, lowering it from INR 2.5 crore to INR 40 lakh.
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Why it's impossible to review AIs, and why TechCrunch is doing it anyway
TechCrunch
·
1y ago
Medial
AI models are evolving rapidly, making it difficult to comprehensively evaluate their capabilities. The pace of release is too fast for thorough assessment, and these models are increasingly complex and opaque. Furthermore, companies do not disclose changes made to their models, making it hard to keep evaluation frameworks relevant. Synthetic benchmarks provide limited insights and can be manipulated by companies to showcase better performance. Despite these challenges, qualitative analysis of AI models is valuable to counter industry hype and provide a real-world perspective. TechCrunch utilizes a subjective approach to testing AI models, focusing on specific categories for evaluation. However, the review process is not comprehensive and has its limitations.
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Monthly transactions on ONDC to hit around 50 million by the end of the year: CEO Koshy
YourStory
·
1y ago
Medial
Open Network For Digital Commerce (ONDC) CEO Thampy Koshy believes the platform will reach 40-50 million monthly transactions by the end of the year. Launched in December 2021, ONDC aims to empower smaller businesses in the ecommerce sector. Currently, the platform has nearly 550,000 merchants, with a decreasing share of transactions in the mobility sector. Other sectors like food, beauty, grocery, and apparel are gaining momentum. This was announced at the Build For Bharat event, a partnership between ONDC, Startup India, Google Cloud India, Antler in India, Protean, and Paytm, aimed at finding innovative solutions for ecommerce challenges.
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Sam Bankman-Fried, the fallen wunderkind of cryptocurrency
Economic Times
·
1y ago
Medial
Sam Bankman-Fried, the young founder of FTX, once the world's second-largest crypto exchange, experienced a meteoric rise and fall. He became a cryptocurrency ambassador, amassing a $26 billion fortune, and making appearances in Congress. However, his empire crumbled amid allegations of misuse of customer funds, and he faces a trial for fraud and racketeering. Despite his philanthropic endeavors and efforts to salvage his reputation, his legacy is tarnished. Bankman-Fried's story underscores the volatile nature of the cryptocurrency industry and the risks associated with its rapid growth.
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Why do investors love quick commerce startups?
Inshorts
·
1m ago
Medial
With changing lifestyles and instant gratification on the rise, investors are pouring funds into Q-commerce. Fast-delivery startups are investor favourites highlighting strong unit economics, repeat behaviour, and scalable city-level models that blend tech and efficiency. The future of commerce is faster and funded.
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A TikTok Ban May Be Easier in Theory
Livemint
·
1y ago
Medial
The potential ban or forced sale of TikTok in the US is facing various challenges, both practical and legal. A new House bill seeking to fast-track the ban has caught the short-video platform off guard. Legal questions surrounding the ban have been raised, citing concerns over the violation of the First Amendment and anti-Chinese sentiment. Moreover, implementing a ban would require intrusive regulations and could have significant political implications, especially ahead of a presidential election. A forced sale of TikTok may be a preferable solution for the US, but this too presents challenges as Beijing opposes any such move.
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Honasa Consumer shares climbed 14% today; is it still an 'avoid' at current levels?
Business Today
·
5m ago
Medial
Honasa Consumer's stock experienced a significant rise, climbing 13.31% to Rs 232, despite a 44.66% decline over the past year. In Q3 FY25, the company focused on long-term growth and initiated Project Neev to enhance offline distribution in the top 50 cities through direct distributors. Honasa aims to become a leading house of brands in India's beauty and personal care sector, setting a foundation for future market leadership.
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China grew R&D & industry together, India has work to do here: Vembu
Inshorts
·
1y ago
Medial
Zoho CEO Sridhar Vembu said China's rise over past 20 years has been "astounding". "It's important to realise that China's rise in R&D happened along with her rise in industrial prowess...India has lot of work to do here," Vembu said. "India can rise too and we don't need everything to be perfect. We need optimism and can-do spirit," he added.
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ONDC’s first buyer side logistics app to fix a big gripe
Economic Times
·
1y ago
Medial
The government-supported ecommerce network, Open Network for Digital Commerce (ONDC), has approved its first buyer-side logistics app, MP2 Innovations. The app aims to address delivery challenges faced by ONDC participants by allowing them to access various delivery fleets through a single API. MP2 Innovations has partnered with logistics companies such as Loadshare and Zypp and plans to go live on the ONDC network soon. This move is expected to improve the ecommerce experience on ONDC and attract more prominent players to integrate with the platform.
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