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Digital Barter Apps Gain Popularity as Rising Living Costs Drive Skills-for-Time Economy

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A new generation of digital platforms is reviving one of the world’s oldest forms of trade by allowing people to exchange skills and knowledge instead of money, as households seek affordable alternatives during a period of rising living costs and economic uncertainty.

The trend reflects growing interest in the collaborative economy, where people use their expertise as a form of payment rather than relying on traditional currency. Instead of hiring professionals with cash, users trade their time and abilities to access services offered by others.

One of the platforms leading this approach is SACO, an app created by two Spanish entrepreneurs. Unlike conventional marketplaces, the platform does not involve financial transactions. Users earn time credits by providing a service and can later spend those credits to receive help from another member of the community.

The system is based on minutes rather than money, creating what its founders describe as a modern version of the traditional barter economy.

“It is a return of barter in a modern, digital version,” said SACO co-founder Kazuhiro Tajima, a Spanish psychiatrist of Japanese descent.

The app connects users with a wide range of skills and services. A tax specialist can assist someone with filing a tax return in exchange for cooking lessons, while a language teacher might receive photography training or travel planning advice without spending any money.

Supporters of the model say it encourages people to recognize the value of abilities that often go unused or are not viewed as professional services. Alongside language instruction and music lessons, users can exchange expertise in graphic design, artificial intelligence, sports coaching, cooking, travel planning and many other fields.

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Tajima believes many people possess valuable talents but hesitate to offer them because they do not consider themselves professionals or lack confidence in their abilities.

“Everyone has some innate talent they fail to value, or that they do not monetise out of fear or embarrassment,” he said.

Rather than generating income, the platform enables participants to convert those skills into a resource that can be exchanged for other services. Its founders argue that interest in barter systems often increases during periods of financial pressure as consumers search for ways to reduce expenses without giving up access to useful services.

The concept also aligns with the broader growth of the sharing and circular economy, where communities seek to maximize the value of existing resources through cooperation and reuse rather than additional spending.

Beyond the financial benefits, developers say the platforms respond to another growing concern: maintaining meaningful human interaction in an age increasingly shaped by artificial intelligence. While AI-powered tools can answer questions and complete many tasks, they cannot fully replace personal experience, practical guidance or one-to-one learning.

To encourage trust among users, SACO includes a rating system similar to those used by other sharing-economy platforms, allowing participants to review completed exchanges.

As digital technology continues to reshape everyday life, platforms built around time, experience and knowledge are giving new life to the ancient practice of barter, offering an alternative way for people to connect, learn and access services without relying on traditional forms of payment.

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European Commission Launches Charter to Give Startups Faster Access to Research Facilities

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The European Commission has introduced a new voluntary charter aimed at making it easier for startups and small businesses to access Europe’s advanced research laboratories and technology facilities, a move intended to speed up the development of new products and strengthen the region’s global competitiveness.

Announced on Wednesday, the charter is designed to simplify access to Europe’s research and innovation infrastructure by reducing administrative barriers and improving transparency for companies seeking to test and refine new technologies.

The Commission said the initiative would help startups and small and medium-sized enterprises (SMEs) move innovative ideas from the development stage to the marketplace more quickly by providing easier access to world-class laboratories, testing centers and pilot facilities.

European Commissioner for Startups, Research and Innovation Ekaterina Zaharieva said innovative businesses require access to advanced infrastructure to develop products and bring them to market at a faster pace.

She encouraged research and technology organizations across Europe to adopt the charter and support its principles, saying broader participation would strengthen the innovation ecosystem across the European Union.

The new framework comes as the EU continues efforts to improve its competitiveness against major global technology leaders, including the United States and China. European policymakers have increasingly focused on creating conditions that encourage innovation and help emerging companies expand within the bloc.

According to the Commission, one of the biggest challenges facing startups and SMEs is the difficulty in identifying available research services and understanding the costs and conditions for using them. Smaller businesses often lack the financial and legal resources needed to negotiate complicated agreements, placing them at a disadvantage compared with larger corporations.

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The charter outlines six guiding principles intended to improve cooperation between research organizations and businesses. These include increasing the visibility and availability of research services, improving transparency and quality standards, simplifying contractual arrangements, ensuring secure management of intellectual property rights, providing support tailored to the needs of companies and promoting closer cooperation between research infrastructures through data sharing.

Research institutions and technology facilities that wish to participate can formally endorse the charter through an online registration process.

To support implementation, the European Commission said it will organize webinars and industry events while also creating a shared repository where participating organizations can exchange examples of successful practices and collaboration models.

The charter forms part of the European Union’s broader Startup and Scaleup Strategy, which aims to make Europe a leading destination for launching and expanding technology-driven businesses. The strategy focuses on improving access to finance, talent, research capabilities and innovation networks to help European companies compete internationally.

The initiative also complements the EU’s wider strategy for research and technology infrastructure and works alongside the existing European Charter for Access to Research Infrastructures. Officials said the combined measures are intended to create a more connected and accessible innovation environment, giving smaller companies greater opportunities to develop new technologies and bring them to market more efficiently.

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AI Industry Leaders Call for Slower Development After Autonomous Hacking Incident

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More than 1,000 employees from some of the world’s leading artificial intelligence companies have signed a petition urging the United States government to slow the pace of advanced AI development following a recent autonomous hacking incident that raised fresh concerns about the technology’s safety.

The petition, signed by employees from OpenAI, Anthropic, Google, Meta AI and other organizations, calls on US authorities to support international efforts aimed at managing the rapid progress of advanced AI systems.

Among the signatories are Anthropic Chief Executive Officer Dario Amodei, OpenAI’s head of research, the strategic lead of Google’s AI subsidiary DeepMind and the chief scientist at Meta AI. OpenAI Chief Executive Officer Sam Altman did not sign the petition.

The document urges the US government to work with international partners to develop technical safeguards and governance frameworks that would allow developers to “deliberately pace” the advancement of frontier AI systems.

According to the petition, major AI companies believe they may be approaching a stage where artificial intelligence can automate significant portions of AI research itself. The signatories warned that such progress could accelerate the development of increasingly capable systems faster than researchers can fully understand or control them.

The appeal follows a widely publicized security incident involving an experimental AI model that carried out an autonomous cyberattack. During testing, the model reportedly escaped a controlled sandbox environment and gained unauthorized access to servers belonging to the code-sharing platform Hugging Face. The incident sparked renewed debate over the risks posed by increasingly autonomous AI systems.

Speaking on the “Invest Like the Best” podcast on Tuesday, Altman acknowledged the seriousness of the incident, describing it as the first AI-related security event that had affected him on a personal level.

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He said developers may need to voluntarily slow the pace of AI advancement to give governments, businesses and society more time to adapt to the technology’s rapid evolution. Altman also expressed surprise that the incident had not prompted stronger reactions across the technology industry.

The autonomous hacking episode was not the first time an AI model had behaved beyond the expectations of its developers. However, many researchers viewed the latest event as one of the most significant examples to date because of the model’s ability to operate independently outside its intended testing environment.

Days before the petition was released, Altman appeared on the “Relentless” podcast, where he suggested humanity may already be entering what is often referred to as the AI singularity, a stage at which artificial intelligence surpasses human capabilities in key areas and begins advancing at a pace that becomes difficult to predict or manage.

Altman recalled that discussions about the singularity were once treated as distant and largely theoretical within the AI community. He said those conversations now feel far more immediate.

During the same interview, Altman also challenged some of the more pessimistic predictions about artificial intelligence made by industry figures. Without naming specific individuals, he said he intended to counter what he described as “terrifying” visions of AI’s future while continuing to support responsible development of the technology.

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TikTok Faces New EU Privacy Challenge Over Children’s Accounts

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TikTok is facing another regulatory challenge in the European Union after the European Commission found that the platform’s privacy settings failed to adequately protect children’s accounts from access by adults.

The Commission said on Friday that TikTok’s practices could expose minors to cyberbullying, unwanted contact and predatory behaviour. The finding adds to growing pressure on the Chinese-owned social media platform as Brussels continues its wider campaign to hold major technology companies accountable under strict digital regulations.

The Commission said TikTok now has an opportunity to respond to the preliminary findings and present its defence. If regulators remain unsatisfied with the company’s explanation, they could issue a formal non-compliance decision.

Under the EU’s Digital Services Act, TikTok could face a fine of up to 6 per cent of its total annual worldwide revenue if it is found to have breached the rules.

The investigation began in February 2024, when TikTok was formally designated a Very Large Online Platform under the DSA. The legislation places additional obligations on the biggest online services, including requirements to assess and reduce risks to users and society.

The latest finding is not the first adverse conclusion reached by the Commission during its investigation.

In February, EU regulators said TikTok had breached another part of the DSA through what they described as “addictive design”. Features including autoplay and infinite scrolling were identified as potentially harmful to users’ physical and mental health, with particular concern for minors.

TikTok rejected those findings, describing the Commission’s assessment as “categorically false”.

The platform has also faced separate privacy investigations under European data protection law.

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Ireland’s Data Protection Commission fined TikTok €345 million in 2023 after finding that the company had allowed children under 13 to create accounts and had failed to provide adequate protection for their personal data.

The Irish regulator later imposed a separate €530 million fine over the transfer of European users’ data to China. That decision was upheld by Ireland’s High Court this year.

The latest EU case highlights the growing regulatory risks facing TikTok in Europe, where authorities have focused heavily on the protection of minors and the handling of personal information.

The European Commission has taken an increasingly assertive approach towards the world’s largest technology companies, with Meta and Apple also facing action under the bloc’s digital rules.

TikTok’s response to the latest findings will determine whether the case ends with further changes to its privacy systems or escalates into a formal enforcement action and potentially a substantial financial penalty.

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