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SpaceX Announces That Starlink Now Has Over 1 Million Users

It seems that Elon Musk’s internet service is proving extremely popular.

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spacex announces that starlink now has over 1 million users
Starlink

SpaceX has just revealed via a Tweet that its satellite internet service, Starlink, now has over 1 million active users. Despite the recent controversy surrounding CEO Elon Musk’s recent Twitter antics, it seems that the public still sees enormous value in the entrepreneur’s tech offerings.

Although the subscriber figures sound impressive for a relatively young company, Starlink still has a few teething problems. According to a September report by speed test gurus Ookla, the satellite internet company’s download speeds have continued to drop since mid-2021, with figures ranging from 9% to 54% being measured at various intervals.

Ookla believes that the dropouts and general sluggishness are probably due to Starlink’s infrastructure straining under the weight of its growing user base, which along with a fair use policy introduced in November 2022, means that the company is almost certainly throttling internet speeds. Starlink’s service went from 400,000 active users in May to the 1 million+ figure we’re hearing about today, so existing users may need to spend more to get speeds back to what they’ve been used to so far.

Also Read: UAE Prepares To Trial First Driverless Truck At Dubai South

Back in August, SpaceX announced that it was entering into a partnership with T-Mobile that would allow the mobile phone giant’s customers to connect directly to Starlink satellites, potentially adding even more users to the platform — though testing will continue well into 2023.

Future plans for SpaceX include the addition of their second-generation satellites, which may ease some of the strain when they launch at the end of the year. However, astronomers will no doubt be less than thrilled at this news, as Musk’s company currently has over 3,000 craft in orbit, a figure which will eventually reach 42,000 once future plans are approved.

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du Considers Adding Crypto & Investment Tools To New Service

The company plans to bridge gaps in one of the financial market’s most underserved demographics, according to its CEO.

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du considers adding crypto and investment tools to new service

The Emirates Integrated Telecommunications Company, better known as Dubai-based du, is contemplating incorporating cryptocurrency and investment tools into its recently launched financial technology platform, according to CEO Nicolas Levi.

According to Levi, the potential enhancements would enable improved portfolio management for investors. The new tools and features would be realized through future partnerships while continuing to adhere to strict UAE regulations.

“Cryptocurrencies are being used as an investment. Will we have an investment product one day potentially? I’m not saying no to that. Will we use crypto for our own transactions? There are some plans with the [UAE] central bank to work on that,” Levi said in a recent interview.

The UAE Central Bank does not currently recognize cryptocurrencies as legal tender. However, the regulator began implementing its own form of digital currency back in March 2023, known as Digital Dirham. Additionally, the UAE Central Bank’s endorsement of legitimate crypto enterprises for banking services underscores the Emirates’ commitment to addressing real-world financial needs.

Also Read: Lebanese Newspaper Builds AI President To Beat Political Crisis

du Pay, the company’s inaugural venture into the FinTech sector, had a soft launch earlier this month after UAE Central Bank authorization. Offering an array of financial services like domestic and international transfers, bill payments, recharges, and salary receipts through a unique IBAN, du Pay marks a significant strategic move by the telecom firm into the digital finance space.

The rising trend of mobile-based financial services in the UAE, including digital wallets and online payments, mirrors global trends. Statista projects the digital payments market to balloon to $16.7 trillion by 2028, at a CAGR exceeding 9.5% from 2024’s estimated $11.53 trillion.

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