Today’s Cache | EU readies for digital euro; Google cuts job at Waze; Meta launches VR subscription 

Updated - June 28, 2023 07:22 pm IST

Published - June 28, 2023 03:27 pm IST

A file photo of a sculpture showing the Euro currency sign.

A file photo of a sculpture showing the Euro currency sign. | Photo Credit: Reuters

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EU readies for digital euro

The EU will take a crucial step towards launching a digital version of the euro on Wednesday. The move to develop a digital version of the single currency began in 2020 and has faced attacks from the public, politicians, and banks.

Supporters say the digital euro will complement cash and ensure the European Central Bank (ECB) does not leave the leave a gap that could be filled by private players and other central banks. Meanwhile, critics argue the need for a digital euro and banks warn of major risks with a study suggesting the public is concerned about payment privacy.

Google cuts job at Waze

Google-parent Alphabet is cutting jobs at the mapping app Waze as it merges the unit with its own map products. The company, in December, said it will merge Waze with Google Maps team to consolidate processes, making it a part of the Google Geo division, its portfolio of real-world mapping products that include Google Maps, Google Earth, and Street View.

Google acquired Waze, a social-mapping-location-data startup, for about $13 billion in 2013. At the time, the acquisition was seen as a big boost for Google’s already-strong mapping and mobile businesses.

Meta launches VR subscription

Meta launched its virtual reality (VR) subscription service, for its VR-enabled headsets. The subscription will give users access to top gaming titles every month with Pistol Whip and the arcade adventure game Pixel Ripped 1995 being the first one on offer.

Meta first hinted about the subscription in March on Twitter when a user of the Meta Quest app discovered a description of a game pass. The announcement for the subscription comes weeks after Mark Zuckerberg told employees that while Apple’s mixed reality headset may be nice it is not his vision of the future.

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