Inline Insights

The EU needs to make the single European energy market a reality. But to achieve this, it will need to concentrate more on incentivising investment, infrastructure and technical issues rather than on grand political gestures.

Last Thursday, Japan’s Liberal Democratic Party (LDP) announced that it is not currently looking to regulate virtual currency. This is a significant announcement as there previously was uncertainty over how state officials, particularly in Japan, would react following the collapse of the leading Japanese Bitcoin exchange, Mt. Gox and the loss of over $420 million worth of Bitcoins. 

What was once considered a far-off fantasy is now fast becoming reality.  Robots will soon become an integral part of our working lives, and not just in traditional automotive sectors. Inevitably this will have far-reaching consequences for consumers, corporations and governments. This article looks at what is driving the commercialisation of robots, and how governments and corporates are responding.

The inaugural London Technology Week comes to a close today. Featuring over 200 events, the week-long showcase has shone a light on many of the innovative companies who are thriving in London. More broadly it has underlined the growing sense that London is fast becoming one of the leading tech centres in the world. Former Mayor of New York, Michael Bloomberg, who joined London Mayor Boris Johnson in launching the event on Monday, went as far as declaring that London is now a real challenger to Silicon Valley. Beyond the fanfare, an important thread of this week has also been the growing discussion about the challenges which need to be addressed if London is to truly cement its place as a global tech leader.

From guns to body parts,3D printing technology has introduced a digital manufacturing revolution, which is already disrupting some of our well-established industries.

Companies are now able to print silicone, latex, ceramic, clay, play dough, Nutella, or icing sugar. In the medical field, 3D printing brings the ability to print replacement body parts, organs, skin and bones. NASA has recently purchased a 3D printer for the International Space Station in order to produce spare parts and other items, cutting transportation costs and improving safety. In China, a company has used large 3D printers to build 10 detached one-storey houses in just a day. However, technology is advancing faster than regulation. Very soon, regulators will need to consider the implications of the recent emergence of 4D printing.

Things may be looking up for the EU’s “flagship” climate policy instrument. But much more needs to be done from the autumn.

The development of driverless cars has seen a resurgence of interest of late. This is no doubt partly due to the publicity Google generated from trialling the concept. But how have regulators reacted to the idea of driverless cars. Will regulation stand in the way or facilitate this giant leap forward in transport innovation?

The Financial Times recently reported that the amount lent by peer-to-peer websites internationally was almost $3bn in 2013, up from around $100m in 2007. There has been an equally impressive growth in the estimated number of crowdfunding websites, which have grown from 1,100 to 2,700 in the last year alone.

Since being first released on the consumer market in 2005, the global e-cigarette market has been growing rapidly. In the United States, sales grew at an annual rate of 115 percent in the 2009-12 period. It is estimated that the global market could increase to $10 billion by 2017. Some analysts have gone as far as suggesting that e-cigarettes could be outselling conventional cigarettes within a decade.

Tomorrow's protest against Uber, by an estimated 12,000 London taxi drivers, looks set to cause considerable disruption and have a significant negative economic impact too.  Figures suggest that the protest could cost London’s economy as much as £125 million (see tonight’s London Evening Standard).  The controversy centres on an app provided to Uber's drivers - separate from the one used by the public - that calculates the journey distance and time taken, and then relays this information to remote computer servers to determine the fee.

The last number of months have seen a swathe of new legislation regulating short-term rental across the globe. There are varying reasons for this and, consequently, many different approaches are being taken by policy-makers.  

Last week the Financial Conduct Authority (FCA), which is responsible for UK financial regulation, outlined plans to launch a policy hub for start-up companies including those in the virtual currency sector. Head of the FCA, Martin Wheatley (pictured), stated “it’s an imperative for the regulators to be standing on the right side of progress”.

Following a revised subpoena from the New York state Attorney General requesting the personal details of hosts who use Airbnb for short-term rentals, both sides have reached an agreement. Under the agreement Airbnb will provide the Attorney General with anonymised aggregate data on their hosts in New York. This data will initially not include names, addresses or other personally-identifiable information.

A bill regulating ridesharing services is expected to be imminently signed by Colorado State Governor John Hickenlooper.  This would make him the first US State Governor to sign into law such a bill. Whilst California was technically the first State to regulate the industry (its rules were created by the State’s Public Utilities Commission), Colorado’s rules are set to be the first crafted and enacted by elected State representatives. The bill will allow provide certainty for ridesharing companies who faced formal complaints from the State’s Public Utilities Commission, which maintained that they were operating illegally.

A number of news stories over the last few days once again illustrate the momentum that virtual currencies are gathering towards increased legitimacy amongst regulators and consumers. 

New York State regulators have re-issued a subpoena against Airbnb only a day after the courts dismissed a request against the short-term rental company.

In a hugely significant development, the European Union Court of Justice (ECJ) has today ruled that Google must amend some search results at the request of ordinary people in a test of the so-called "right to be forgotten".

The Federal Election Commission (FEC) has unanimously approved the use of Bitcoin for political donations after months of debate on the issue. Commissioners imposed several conditions. Among them: No anonymous bitcoin contributions will be allowed, and campaign treasurers must scrutinize the donations for "evidence of illegality."

London black-cab drivers are planning to cause gridlock in the city to protest against car service Uber.

The Licensed Taxi Drivers Association complains that Uber's drivers are using a smartphone app to calculate fares despite it being illegal for private vehicles to be fitted with taximeters.

Transport for London has declined to intervene, because it disagrees that there has been a breach of the law.

Private landlords would face rent controls and longer tenancy agreements if the Labour party wins an election next year, party leader Ed Miliband will pledge on Thursday.