Pizza droids are coming; FBI warns of car hacks; Govt targets Bitcoin 'double GST'

The federal government plans to address the ‘double GST’ treatment of digital currencies like Bitcoin, according to Treasurer Scott Morrison.

The Treasurer made the comments in his address at the launch of the government’s FinTech statement earlier this week.

According to the Treasury, the FinTech statement is part of the government’s National Innovation and Science Agenda, and sets out the government’s vision for “developing a strong and vibrant FinTech industry in Australia”.

In his address Morrison announced several actions he said the government will take to support the FinTech sector.

“We will take action to address the double GST treatment of digital currencies. We won’t be taxing digital currency,” Morrison said.

The Treasurer also said that his government “will ensure access to concessional tax treatment for venture capital investments in the start-up FinTech firms”.

He added that the government’s FinTech advisory group is working on increased facilitation of digital advice models and the uptake of Blockchain technologies.

Treasury also said that the government will work with the FinTech industry on further reforms to allow all companies, regardless of assets and turnover, to be eligible for equity crowdfunding.

Connected car hacking risks

US government agencies have issued a warning about potential security vulnerabilities in connected motor vehicles.

The warning came in the form of a joint PSA (public service announcement) from the US’s FBI, Department of Transportation and National Highway Traffic Safety Administration, titled ‘Motor vehicles increasingly vulnerable to remote exploits’.

“Modern motor vehicles often include new connected vehicle technologies that aim to provide benefits such as added safety features, improved fuel economy, and greater overall convenience. Aftermarket devices are also providing consumers with new features to monitor the status of their vehicles,” the PSA said.

“[T]he FBI and NHTSA are warning the general public and manufacturers — of vehicles, vehicle components, and aftermarket devices — to maintain awareness of potential issues and cybersecurity threats related to connected vehicle technologies in modern vehicles.”

The PSA detailed one case from 2015 in which the NHTSA considered security vulnerabilities in a passenger vehicle radio module to be such a risk to safety that almost 1.5 million vehicles were recalled as a result.

And although the advice issued in the PSA is aimed at US users, the fact that the PSA was issued at all is an indication of how seriously governments around the world are taking the threat of compromised connected vehicles.

Domino’s autonomous pizza vehicle

Domino’s Pizza has revealed its plans for an autonomous food delivery vehicle it calls DRU (Domino’s Robotic Unit).

The company’s delivery-bot is a four-wheeled vehicle with compartments to store a customer’s order that travels “on the footpath at a safe speed from the store to the customer’s door”.

According to Domino’s, the vehicle in its current state is able to “navigate from a starting point to [its] destination, selecting the best path of travel”. Onboard sensors help the vehicle avoid obstacles encountered while travelling.

Domino’s said it has been working with the Queensland Department of Transport and Main Roads, and other global partners, to make sure the vehicle meets legislative requirements as it is trialled and tested.

“We are also working with government agencies on the project to ensure all legal requirements are met,” Domino’s group CEO and managing director, Don Meij, said.

The company said that the vehicle has been used in some customer deliveries in restricted streets identified by the Department of Transport and Main Roads under special permit.

In these deliveries the vehicle has been operated in semi-autonomous mode to make sure it complies with current regulation, Domino’s said.

Image courtesy Domino's.