Author: rb809rb

  • Snap CEO Sees New Wearable Glasses as “Largest Long-Term Opportunity”

    Snap CEO Sees New Wearable Glasses as “Largest Long-Term Opportunity”

    Shares of Snap were up 12 percent after hours Monday as the social media platform beat second-quarter revenue expectations. 

    Revenue increased 19 percent year-over-year to $1.60 billion, as monthly active users grew to 971 million, up from 956 million in the prior quarter, and daily active users reached 493 million, up from 483 million in the prior quarter. The company reported a net loss of $164 million, after a net loss of $263 million in the prior year, as part of its renewed focus to reach profitability. 

    But beyond the current revenue growth that’s being seen around the app, and the company’s new “more focused, AI-enabled operating model.” CEO Evan Spiegel outlined that he sees the company’s future in its newest version of wearable technology. 

    “Our largest long-term opportunity is SPECS, a new kind of computer built into see-through glasses. SPECS are designed for a future in which AI does more work on our behalf and people spend less time operating screens. I believe we can pursue that future from a much stronger position by continuing to improve our core business and remaining disciplined about how we invest,” Spiegel said in the press release. 

    Snap announced the new wearable glasses in June, setting up pre-orders of the $2,195 glasses with expected shipment this fall in the United States, United Kingdom, and France. The glasses were described as a mix of other AI glasses and VR headsets, offering tech such as directions, AI assistance, the ability to stream content and overlay interactive lessons onto surfaces. The glasses don’t officially launch until Sept. 16. 

    Still, Snap has attempted glasses in the past and has not seen big returns. The company launched Spectacles, camera-equipped sunglasses that recorded short videos, in 2016. These were not big sellers and caused the company, in 2017, to report losses due to excess orders. The company later released updated versions of the glasses and then new AR glasses in 2021. 

    The company said the investment in SPECS is included in its full-year adjusted operating expense outlook, which remains $2.75 billion. Snap’s guidance range for Q3 revenue is $1.70 billion to $1.74 billion, and the company also expect infrastructure costs to grow modestly with full-year costs of $1.65 billion to $1.70 billion due to continued investments in the company’s AI-enabled operating model.

    All of this comes after the company laid off 1,000 employees, including 16 percent of full time employees, were laid off at the company in April. The company said the layoffs would reduce the company’s annualized cost base by more than $500 million by the second half of 2026, which would help the company get closer to profitability.

    “Last fall, I described Snap as facing a crucible moment, requiring a new way of working that is faster and more efficient, while pivoting towards profitable growth. Over the past several months, we have carefully reviewed the work required to best serve our community and partners and made tough choices to prioritize the investments we believe are most likely to create long-term value,” Spiegel said at the time. 

    One possible obstacle for the business moving forward, as the company noted, is a number of trials as well as “regulatory scrutiny” related to the use of the app by younger generations.

    “We continue to monitor the evolving legal and regulatory landscape in the United States and internationally that could materially impact our business and financial results, including increased regulatory scrutiny on youth-related issues and several trials scheduled in the United States later this year. While outcomes remain uncertain, they may result in significant changes to our products and business practices, increased compliance requirements and legal costs, increased payments for legal judgments and settlements, and negative impacts to user growth and engagement,” CFO Doug Hott said.

  • Concord police seized severed squirrel head in a jar during firearm investigation

    CONCORD — Police here raided a 19-year-old man’s home and made a startling discovery — he’d apparently decapitated a squirrel and kept the head in a jar as a memento, according to authorities.

    The April police response, which hasn’t been previously reported, came after a tipster told Concord police that he’d seen the 19-year-old man brandishing a pistol. Police investigated the teen, including by reviewing a social media page where he displayed the squirrel’s head and videotaped himself killing and swallowing a tadpole, authorities said.

    When another user inquired how he’d captured the squirrel, the man said he’d simply found it in the roadway, authorities said. The 19-year-old Concord resident was arrested on suspicion of animal cruelty, but thus far no charges have been filed, court records show.

  • Phil Collins Reveals He Nearly Died From Alcohol Abuse in 2024

    Phil Collins Reveals He Nearly Died From Alcohol Abuse in 2024

    Phil Collins has revealed that he nearly died from alcohol abuse a little over two years ago.

    The singer-drummer told the U.K.’s Sunday Times magazine that in April 2024, he was in the hospital, after years of alcohol abuse, unconscious, when his manager summoned his five children to his bedside as it seemed he was on the verge of dying.

    “Because there were some decisions to be made about ‘Do we keep Phil on life support?’ kind of thing,” he recalled. “My kidneys were packing up, my organs were just seizing up. People were coming to say goodbye. But I don’t remember them coming, I didn’t have no idea this was going on. They were all worried that they wouldn’t see me again. It could all have gone so terribly wrong.”

    Collins added that since he was discharged from the hospital, after having spent seven months there, he hasn’t had a drink.

    Still, the U.K. Times reports, his pancreas is scarred and kidneys are barely functioning after years of alcoholism, which he wrote about in his 2016 autobiography.

    Collins is also dealing with type 2 diabetes, nerve damage that has left him unable to hold drumsticks and and has to use crutches after back and knee surgeries. And he has a 24/7 live-in nurse.

    But he’s grateful he made it through his time in the hospital, calling himself “very lucky” and spent four memorable days with his family at the end of last year.

    He recalls a moment with his daughter, Emily in Paris star Lily Collins, in which she “was sitting beside me in tears, saying, ‘I never thought I’d get these moments.’ We had an incredible time. I can’t overemphasize how fantastic it was.”

  • Turn Information Overload Into Visually Organized Ideas With Gitmind for 72% Off

    Turn Information Overload Into Visually Organized Ideas With Gitmind for 72% Off

    TL;DR: Get GitMind Basic lifetime access for $49.99 and turn PDFs, videos, audio, websites, and images into AI-generated mind maps, summaries, diagrams, and organized notes.

    Keeping track of information gets harder the more sources you use. GitMind Basic aims to solve that by turning documents, videos, websites, audio recordings, and images into organized mind maps, summaries, and diagrams—all with AI.

    Instead of manually building visual maps from scratch, you can upload a PDF, paste a YouTube link, add a web page, or import an image and let GitMind organize the information for you.

    It also supports AI chat, document analysis, OCR, transcription, and diagram generation, making it useful for research, planning, brainstorming, and everyday note-taking.

    The platform works well for a wide range of users. For instance, creators and educators can quickly turn ideas into visual workflows.

    The lifetime plan is available to both new and existing users, replacing recurring subscription costs with a single $49.99 payment. If you regularly work with large amounts of information, GitMind offers a practical way to organize it without constantly switching between multiple productivity apps.

    Recommended by Our Editors

    Get lifetime access to GitMind Basic for a one-time $49.99 (MSRP $169) for a limited time.

    GitMind Basic Plan

    Lifetime Subscription


    $49.99
    at StackSocial

    $169.00
    Save $119.01


    Get Deal

    Prices subject to change. PCMag editors select and review products independently. If you buy through StackSocial affiliate links, we may earn commissions, which help support our testing.

    About Our Expert

  • ‘God of War’: Dave Bautista in Talks For Kratos Role in Amazon Series After Ryan Hurst’s Exit

    ‘God of War’: Dave Bautista in Talks For Kratos Role in Amazon Series After Ryan Hurst’s Exit

    Dave Bautista could be the next “God of War.” Variety has learned from sources that Bautista is currently in talks for the role of Kratos in the Amazon Prime Video series based on the popular video game franchise.

    The news comes after it was reported that Ryan Hurst, who was originally cast in the role of the titular god in January 2026, suffered a torn bicep on the set of the series that would have delayed a return to production until 2027, ultimately leading Amazon and Sony to recast the part. The plan is to get the production back up and running by the fall.

    Reps for Amazon declined to comment.

    There are few better suited for the role of Kratos than Bautista. Aside from the fact he is an accomplished actor, he is one of few in Hollywood who could step into the role on short notice in the physical shape it requires. Kratos is known for his incredibly muscular physique in the games, and Bautista has been in remarkable shape throughout his career. Thus, he would not need months of prep time to prepare for the role.

    He also has an existing relationship with Amazon MGM Studios. He previously starred in the Amazon movies “The Wrecking Crew,” “My Spy,” and “My Spy: The Eternal City,” while he is set to appear in both “Road House 2” and the remake of “Highlander” for Amazon.

    Bautista first broke out as a star in WWE before he transitioned to a highly successful and diverse acting career. He has played Drax in the Marvel Cinematic Universe across six movies, while he also appeared in the first two “Dune” films from Denis Villeneuve. He also recently lent his voice to the animated film “Avatar Aang: The Last Airbender,” and has previously starred in films like “Blade Runner 2049,” “Knock at the Cabin,” “Spectre,” and “Army of the Dead.”

    He is repped by WME and Jackoway Austen Tyerman.

    Prime Video has given “God of War” a two-season order. As previously reported, the series will pick up with the story of the two most recent “God of War” games, in which Kratos must raise his ten-year old son Atreus while battling gods of the Norse pantheon. Per the logline, “Father and son Kratos and Atreus embark on a journey to spread the ashes of their wife and mother, Faye. Through their adventures, Kratos tries to teach his son to be a better god, while Atreus tries to teach his father how to be a better human.”

    Callum Vinson remains attached to play Kratos’ son Atreus. Additional cast members include Max Parker as Heimdall, Ólafur Darri Ólafsson as Thor, Mandy Patinkin as Odin, Alastair Duncan as Mimir, Danny Woodburn and Jeff Gulka as as brothers Brok and Sindri, and Ed Skrein as Baldur.

    Ronald D. Moore is the writer, executive producer, and showrunner on “God of War” under his Tall Ship Productions banner.

    Frederick E.O. Toye will direct the first two episodes of “God of War.” Maril Davis of Tall Ship also executive produces alongside Cory Barlog, Naren Shankar, Matthew Graham, Asad Qizilbash, Jeff Ketcham, Hermen Hulst, Roy Lee, and Brad Van Arragon. Joe Menosky, Marc Bernardin, Tania Lotia, and Ben McGinnis serve as co-executive producers on the series. The series is co-produced by Sony Pictures Television and Amazon MGM Studios in association with PlayStation Productions and Tall Ship Productions.

  • Dave Bautista Eyes ‘God of War’ Lead Role as Kratos

    Dave Bautista Eyes ‘God of War’ Lead Role as Kratos

    Prime Video‘s God of War series may be on the way to finding a new lead actor to replace the injured Ryan Hurst.

    Dave Bautista is in talks to take on the role of Kratos in the series, which is based on the long-running video game franchise. Hurst (The Odyssey, Sons of Anarchy) was originally cast in the role but had to step aside after tearing a bicep while performing a stunt on set.

    Prime Video declined comment.

    Bautista would be a known quantity to both viewers — via Marvel’s Guardians of the Galaxy films, Glass Onion: A Knives Out Mystery and Dune Part Two, plus his time as a WWE star — and Amazon MGM Studios, which is producing God of War with Sony Pictures Television. Bautista has appeared in Amazon MGM’s two My Spy movies and The Wrecking Crew and has roles in the studio’s forthcoming features Highlander and Road House 2.

    Should Bautista’s deal go through, the goal is to get God of War back into production in Vancouver in the fall. The show’s cast also includes Callum Vinson, Mandy Patinkin, Ed Skrein, Max Parker, Ólafur Darri Ólafsson, Teresa Palmer, Alastair Duncan, Jeff Gulka and Danny Woodburn.

    The series will follow Kratos and his son, Atreus, as they “embark on a journey to spread the ashes of their wife and mother, Faye,” per the show’s logline. “Through their adventures, Kratos tries to teach his son to be a better god, while Atreus tries to teach his father how to be a better human.” The series will be based primarily on the two most recent installments of the game franchise, which introduced Atreus.

    Ronald D. Moore (For All Mankind, Outlander), who has an overall deal at Sony, is the showrunner and executive produces with Maril Davis, Cory Barlog, Naren Shankar, Matthew Graham, Asad Qizilbash, Jeff Ketcham, Hermen Hulst, Roy Lee, and Brad Van Arragon. Joe Menosky, Marc Bernardin, Tania Lotia, and Ben McGinnis are co-EPs. Frederick E.O. Toye is set to direct the first two episodes. Sony and Amazon MGM are producing God of War with PlayStation Productions and Moore’s Tall Ship Productions.

  • Popcorn Bucket Craze Pops Off With Skyrocketing Scalper Prices, Director Approvals and Imax’s First-Ever Movie Merch

    Popcorn Bucket Craze Pops Off With Skyrocketing Scalper Prices, Director Approvals and Imax’s First-Ever Movie Merch

    Did you think landing Imax 70mm tickets to “The Odyssey” was hard? Trying landing those tickets and snagging one of the limited-edition popcorn buckets tied to the recent release of Christopher Nolan’s epic, which included designs of the iconic Trojan Horse and a replica of the Imax camera (complete with a real viewfinder!) that the film was famously shot on by Hoyte van Hoytema.

    The craze around these popcorn buckets, and the conversations they spark on social media, is nothing new. Just this past weekend, the box office juggernaut that is “Spider-Man: Brand New Day” came with its own set of popular buckets, including a replica of Spider-Man’s head and a drink-popcorn combo featuring a web-slinger shooting out of Peter Parker’s hand.

    The craze has gotten so overwhelming that these premium buckets can sell out in minutes after dropping online. For “The Odyssey,” Imax got involved with movie merchandise for the first time to bring a realistic replica of its 15/65mm camera to life. But this growing excitement has also caused some theater chains to limit how many buckets guests can purchase per visit for certain releases, and scalpers have taken to eBay to sell these limited-edition items for increasingly high price tags — and have seen success in doing so.

    With the box office on track to have its strongest year since 2019, premium popcorn buckets have only become bigger money drivers for theater chains, which heavily rely on merchandise and concession sales since they typically only keep around half the revenue generated from ticket sales. In 2025, AMC Theatres reported $80 million globally from merchandise sales (including their international Odeon Cinemas) and is on track for a $100 million gross for 2026, according to Nels Storm, AMC’s VP of food and beverage.

    “It’s become a vehicle for the future of moviegoing,” Storm tells Variety. “These are tangible movie memories. They’re the concert T-shirts of our industry.”

    Chains like Regal estimate that the total number of premium buckets they offer throughout the year will total 50, and that figure extends to over 100 when including collectible popcorn tins.

    The level to which directors get involved with designs can vary. “The Odyssey” Imax bucket is a key example of how theater chains and studios are celebrating the filmmakers getting audiences excited to go to the movies again, as Imax has become synonymous with Nolan’s brand over the years.

    “The persona rubs off, and it’s like a parasocial relationship,” says Russell Belk, a professor of marketing at York University. “Cross marketing is usually part of the plan from the start. The film studios and now the actors involved are trying to get a piece of the action as well.”

    Storm says: “There is so much respect for moviemaking that went into this camera. When you think about how a director like Christopher Nolan likes to film his movies and likes for them to be shown, this was a natural transition to be able to do something like this.”

    Imax CEO Rich Gelfond says the camera bucket sold out in 90 minutes, and they had to borrow more from China to meet the high demand: “The scope of this is larger than anything we’ve done before, and it certainly shows the promise of a bigger merchandising effort among Imax fans. I’m a really optimistic guy, but the crazy interest in Imax among the fans would have been hard to predict.”

    Courtesy of AMC Theatres

    Kristy Breneman, Regal’s director of food and beverage activations, confirms that filmmakers are involved with the bucket designs: “As we’re seeing these concepts, if any changes are asked for, we do hear that everything has to go through the filmmaker for approval on certain projects.”

    Going to the movies and buying a tub of hot popcorn have long gone together. But these collectible buckets aren’t always the most practical for moviegoers hoping to actually munch on some food throughout a long movie — a frequent topic of discussion online.

    “The rule is it has to hold popcorn, and that’s where the rules stop!” Storm says with a laugh, referencing the tiny Bowser key chain that was sold with the release of “The Super Mario Galaxy Movie” earlier this year.

    However, not being able to fit much popcorn into certain buckets doesn’t seem to make a difference in which designs fly off the shelves.

    “We try to think about what comes after. It may be a piggy bank for somebody, it may be a toy bucket for someone, and it may be a really neat, sculpted item to put on a shelf,” says David Haywood, Cinemark‘s SVP of food and beverage. “We never try to box people into how they’re going to use it.”

    Haywood, of course, adds that Cinemark gives out extra popcorn to guests buying certain buckets to ensure that no one leaves the theater on an empty stomach.

    Since a majority of these buckets are sold across all the major chains, one way for competing theater chains to distinguish themselves is by securing an exclusive on certain designs that then get promoted online. This comes from locking in a certain number of buckets they want to buy far in advance, according to Haywood.

    AMC’s biggest exclusive this year has been the bucket shaped entirely around Spider-Man’s head, which goes for $34.99 and is currently sold out on the theater’s website. “This is the first time that vessel has existed in this way ever,” Storm says, with Marvel and Sony’s input making sure it was as size-accurate as possible.

    Courtesy of AMC Theatres

    Another popular bucket, the iconic “Devil Wears Prada 2″ purse, started out as a Cinemark exclusive before becoming more widely available, selling online for $39.95.

    Courtesy of AMC Theatres

    Popular membership programs like AMC A-List and Regal Unlimited, which encourage frequent moviegoing, also provide greater incentives for guests to spend money on these buckets since they’re not paying out-of-pocket for individual tickets each time they go to the theater.

    “Not to give too much away about what we’re planning, but we absolutely want to incentivize those loyal customers who do purchase more,” Breneman teases.

    But just as scalpers have snatched up coveted tickets for big blockbuster releases, they have found their way into the popcorn bucket craze. For “The Odyssey’s” Trojan Horse, for example, one eBay seller has it currently listed as high as $165, compared to its original $69.99 listing, and has actually sold some at or near that inflated price tag. The same can be said of the “Spider-Man” buckets, which are listed for up to $110.

    “That’s been a big topic of conversation recently,” Breneman says. “It’s definitely a challenge for us and we are continuing to learn from these different experiences. Whenever you have products that are limited to a specific release, there’s naturally going to be strong interest from collectors. From our perspective, our priority is to make sure the guests have the opportunity to purchase these items as part of their visit to the theater.”

    To meet the high demand for “The Odyssey,” Regal instituted a one-bucket-per-guest limit — something they’ve never had to do before. “And it is possible that it’ll be something we implement moving forward,” Breneman says.

    Belk adds that having a short supply of limited-edition items can be a strategic tool to encourage customers to spend more on a whim.

    “If you have a limited-time option and you’re not announcing when that’s going to be ahead of time, people that are young and don’t have jobs have a lot of time to hang out online and wait for it,” he says. “You need to find ways to make it seem scarce. It’s a way of generating excitement.”

    As these buckets are typically made from plastic, Storm says that theater chain owners and manufacturing companies like Zinc, Golden Link and Snap have been conscious of designing them to “not be disposable,” when asked about any potential pushback from environmental groups.

    That points to perhaps the biggest appeal of these popcorn buckets — they’ve become some of the hottest collector items on the market, designed to sit on someone’s shelf for years to come as a token of their favorite moviegoing experiences. Add them next to your favorite Funko pop!

    “The fans are now making the moviegoing experience more personal than they ever have before, and these collectibles give them a tangible way to extend that experience all the way to their house,” Haywood says. “People always say, ‘If you don’t show it, it didn’t happen!’”

    But with the increasing out-there designs, from the infamous “Dune: Part Two” sandworm-mouth popcorn bucket to the overwhelmingly giant Trojan horse, is there growing pressure for studios and theater chains to keep topping themselves in order to generate online conversation, especially for upcoming major releases like “Dune: Part Three” and “Avengers: Doomsday?”

    “The excitement and reaction on social media has definitely raised the bar for everyone involved,” Breneman says. “That doesn’t necessarily mean we need to make things bigger and more elaborate every time. But when there is that opportunity to have something more interactive, if it really goes with the storytelling and is authentic to the film, I do see them pressing the limits.”

    Rebecca Rubin contributed to this report.

  • Former FBI Agent Charged With Stealing Nearly $1 Million in Crypto and Using ChatGPT for Investment Advice

    Former FBI Agent Charged With Stealing Nearly $1 Million in Crypto and Using ChatGPT for Investment Advice

    In brief

    • A former FBI supervisory special agent has been charged with stealing nearly $1 million in cryptocurrency.
    • Prosecutors say he transferred funds from wallets tied to FBI investigations into his own accounts.
    • Court filings say he later asked ChatGPT for advice on investing the money and moving to Europe.

    A former FBI supervisory special agent has been charged with stealing nearly $1 million in cryptocurrency from wallets tied to FBI counterintelligence investigations, according to court documents that also detail how he later asked ChatGPT for advice on investing the money and relocating overseas.

    On Friday, Patrick Steven Yaroch was charged with interstate transportation of stolen goods and receipt of stolen goods. Prosecutors allege the thefts occurred between early 2025 and July 2026 while Yaroch worked in the FBI’s Counterintelligence and Espionage Division and held a Top Secret security clearance.

    “During the afternoon of July 28, 2026, Yaroch contacted DOJ Employee 1 via Signal and requested to meet to discuss personal matters,” prosecutors said in the complaint. “Upon meeting DOJ Employee 1 at FBI headquarters, Yaroch immediately started to break down as he told his story.”

    According to investigators, Yaroch admitted he accessed FBI systems to obtain cryptocurrency wallet seed phrases connected to investigations involving an unnamed foreign adversary. He allegedly memorized the recovery phrases, created his own cryptocurrency wallet, and transferred funds into accounts under his control about 10 times. He told investigators the holdings eventually grew to about $1 million.

    During searches of his home and devices, investigators recovered a Trezor hardware wallet and handwritten cryptocurrency seed phrases. According to the affidavit, agents found a Kraken account with a balance of about $188,570, including roughly $166,000 in U.S. dollars and nearly $18,000 in USDC, along with small amounts of Bitcoin and other cryptocurrencies.

    Investigators also recovered several ChatGPT conversations from Yaroch’s phone. According to the affidavit, on May 28 he asked how he should invest or spend $1 million “to maximize profit and return.” Less than a week later, he asked what someone with about $1 million should do to leave the U.S. and become a resident or citizen of a European Union country. Later searches included whether Americans need a visa when connecting through Turkey and help drafting a follow-up email about a job opportunity and life in Greece.

    Investigators also found evidence of a planned family trip to Portugal, power-of-attorney documents related to Portugal, and what prosecutors described as previously unreported foreign travel. Prosecutors argue the evidence, along with Yaroch’s admissions and the recovered cryptocurrency, established probable cause for his arrest on July 31.

    “FBI WF Agents mentioned to Yaroch that they located the power of attorney forms for Portugal. “Yaroch stated he was not planning to funnel money into Portugal,” the complaint said. “Yaroch told FBI WF Agents that his family had a trip planned to Portugal in September 2026 to meet friends. Yaroch realized he might not be able to attend the trip but stated he hoped his wife and child would still go on the trip.”

    Daily Debrief Newsletter

    Start every day with the top news stories right now, plus original features, a podcast, videos and more.

  • How Indian Banks Are Using Blockchain While Keeping Crypto at a Distance

    How Indian Banks Are Using Blockchain While Keeping Crypto at a Distance

    Indian banks are increasingly integrating blockchain into core banking operations to speed up payments, trade finance, and securities settlement while the country continues to keep cryptocurrencies at arm’s length. Instead of building around public crypto networks, lenders have largely focused on permissioned blockchain networks developed for regulated financial services.

    The shift comes as banks gain practical experience from the RBI’s Digital Rupee pilot and expand the use of distributed ledger technology across more financial services. While blockchain is finding wider acceptance inside the banking system, policymakers continue to take a cautious approach to cryptocurrencies because of concerns over financial stability and regulation.

    Banks Separate Blockchain From Cryptocurrency

    Indian banks are using blockchain to solve practical business problems instead of expanding into cryptocurrencies. The technology is helping lenders cut paperwork, speed up trade finance and reduce the risk of document fraud or duplicate financing. Inland letters of credit, which have traditionally taken more than a week to process, can now move much faster on shared digital networks while giving all participants a clearer view of each stage of the transaction.

    The RBI has consistently drawn a clear line between distributed ledger technology and cryptocurrencies. While supporting blockchain in regulated financial services, the central bank has warned that cryptocurrencies could threaten financial stability, weaken monetary policy and increase the risks of money laundering. It has also maintained support for policies “leaning towards prohibition” on banks’ exposure to crypto assets and privately issued stablecoins.

    That cautious approach extends beyond the central bank. Reuters reported that government officials continue to favor tighter oversight of virtual digital assets even though India has yet to introduce a comprehensive crypto law. Cryptocurrencies have operated in a regulatory grey area since the Supreme Court overturned the RBI’s banking restrictions in 2020, but policymakers continue to weigh the potential benefits of innovation against concerns over financial stability.

    Digital Rupee Gives Banks Practical Experience

    The RBI’s Digital Rupee (e₹) pilot has become one of the country’s largest real-world tests of distributed ledger technology in payments. It introduced the wholesale pilot in October 2022 and rolled out the retail version a month later. Since then, the project has expanded steadily. By 2025 and into 2026, about 19 banks were participating in the retail pilot, which had attracted an estimated six to seven million users.

    Customers of major lenders such as SBI, ICICI Bank, HDFC Bank, Axis Bank and Bank of Baroda can use e₹ wallets to load, redeem and spend the digital currency. Beyond basic transactions, banks have experimented with programmable payments, offline transfers and government benefit disbursements. Those trials have helped banks understand how distributed ledger technology could support everyday banking.

    The wholesale program has followed a different path. Instead of focusing on consumer payments, it has examined how banks settle transactions with one another and whether tokenized financial assets can be exchanged more efficiently.

    Some of the work has also explored cross-border payment scenarios. As the trials have progressed, banks have built technical experience that can be applied to blockchain projects outside the Digital Rupee initiative, including future settlement and tokenization efforts.

    Consortium Model Expands Enterprise Blockchain

    India’s adoption of blockchain in banking has also expanded through industry-wide collaboration. In 2021, 15 major lenders formed the Indian Banks’ Blockchain Infrastructure Company (IBBIC) to develop shared digital networks for financial services. The organization was later renamed the Indian Banks’ Digital Infrastructure Company (IBDIC) as it expanded its work to trade finance, payments, lending and compliance.

    One of its flagship projects digitizes the entire trade finance process, from issuing letters of credit and verifying documents to financing and settlement. Early pilot programs reduced processing times by as much as 75%, cutting transactions that once took eight or nine days to as little as two or three days. The platform has also lowered messaging costs while reducing fraud by assigning every transaction a unique digital identity.

    ICICI Bank was among the first Indian lenders to deploy blockchain for trade finance. It further developed the TradeChain technology as a paperless platform for handling the Indian letter of credit process. Other big banks, like SBI, HDFC Bank, Axis Bank and Bank of Baroda, still support IBDIC initiatives while being participants of the RBI Digital Rupee program.

    However, the IBDIC consortium has moved forward beyond trade finance. In 2025, its financing system based on blockchain technology successfully passed the RBI Regulatory Sandbox. The platform transforms invoices issued by approved suppliers into digital tokens and enables the banks to offer better financing to micro, small and medium-sized enterprises working with larger companies.

    Tokenization Emerges as the Next Phase

    As banks gain experience with distributed ledger systems, attention is gradually shifting from payments toward tokenized versions of traditional financial assets. As part of that work, the RBI is testing tokenized certificates of deposit alongside wholesale Digital Rupee settlements. The trials are designed to examine how digital versions of traditional financial instruments could function within the country’s regulated banking system without depending on public cryptocurrencies.

    Government officials have also recognized that the global financial system is changing. Speaking at the Kautilya Economic Conclave in October last year, Finance Minister Nirmala Sitharaman said stablecoins “are transforming the landscape of money and capital flows,” adding that countries may soon have “to make binary choices: adapt to new monetary architectures or risk exclusion.”

    The RBI has taken a more guarded view. Reuters reported that internal documents prepared by the central bank warned that stablecoins could create parallel payment networks and weaken India’s financial system. The documents also recommended against introducing legislation that would legitimize cryptocurrencies. Union Minister Piyush Goyal has echoed that cautious approach, saying, “While there is no ban [on crypto], we don’t encourage it.”

    Together, those positions illustrate India’s approach to financial innovation. Banks are moving ahead with blockchain, tokenization and central bank digital currency projects under regulatory oversight, while policymakers continue to keep cryptocurrencies outside the core of the country’s financial system.

    Related: India’s Gen Z Is Fueling Record Crypto Adoption; Here’s How They’re Investing

  • Country Songs Take All Five Slots in the Billboard Hot 100’s Top 5 for the First Time in Chart History

    Country Songs Take All Five Slots in the Billboard Hot 100’s Top 5 for the First Time in Chart History

    Country music is ruling the roost like never before, at least when it comes specifically to the Billboard Hot 100. For the first time in history, country songs are claiming all five of the top five slots on the Hot 100. That’s thanks to Ella Langley and Morgan Wallen, who currently stand at No. 1 on the singles and albums charts, respectively… and to Taylor Swift‘s return to country for a hit soundtrack… and to newcomer Stella Lefty officially joining the ranks of hitmakers.

    To no one’s surprise, Langley’s “Choosin’ Texas,” the biggest single of 2026 so far, maintains its No. 1 perch in chart results reported by Billboard on Monday. Wallen’s new single, “Been by Now,” premieres at No. 2. Taylor Swift’s “I Knew It, I Knew You” gets pushed down one spot on this week’s chart, now landing at No. 3. In the fourth position is a duet between Langley and Wallen, “I Can’t Love You Anymore.” And coming in at No. 5 is Lefty’s career-making “Boston,” down two slots from last week, but still with plenty of room to grow.

    So many statistical anomalies are included in this top 5, it’s hard to know where to begin, although the aforementioned stat about this congregation of songs establishing a collective chart record is a good place to start.

    The headline any other week might be about Langley’s ongoing winning streak at the top of the chart. This is the 16th week at No. 1 with “Choosin’ Texas,” which puts Langley in ever-more-rarefied territory. “Texas” is now tied for a historic fourth place for the number of weeks spent at No. 1. The three singles it is tied with for that sweet 16 number are Wallen’s “Last Night,” Mariah Carey’s and Boyz II Men’s “One Sweet Day” and the Luis Fonsi/Daddy Yankee/Justin Bieber monster “Despacito.”

    So, what are the next thresholds for “Choosin’ Texas” to cross? If Langley holds on to No. 1 for just one more week — which is a highly likely prospect — then she will still be in fourth place on the all-time streak chart, just no longer tied for it. The next tier for her would be meeting or surpassing the two songs that are tied for second, at 19 weeks each — Shaboozey’s “A Bar Song (Tipsy)” and Lil Nas X and Billy Ray Cyrus’ “Old Town Road.” If she gets to 20 weeks at No. 1, she will hold the record for the most weeks for a non-holiday song. Then, the final frontier would be whether she could beat Mariah Carey’s annual perennial “All I Want for Christmas,” which, at 22 nonconsecutive weeks, is a tough one for anyone to beat. Tagging on seven more weeks to the current 16 to claim the all-time record sounds impossible, but the song has surpassed so many expectations already that it might be foolish to bet against it.

    Looking at the top 10 for this week, country has six out of those 10, since Langley’s second-most-popular track, “Be Her” is in at No. 9.

    The non-country songs rounding the top 10 this week are Tame Impala and Jennie’s “Dracula” at No. 6, Olivia Dean’s “So Easy (To Fall in Love)” at No. 7, Ariana Grande’s “Hate That I Made You Love Me” at No. 8 and Dean’s “Man I Need” at No. 10.

    Dean having two songs in the top 10 and Langley having three (one of them a Wallen collaboration) may provide a glimpse of what the Grammy competition holds in store a few months from now. Voters in the four general categories have turned up their noses at country contenders for years, but Langley will provide the true test of whether the Recording Academy can really keep snubbing country or whether her dominance will mean it’s time to cry uncle.