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Thursday, October 29, 2020, 10:18 GMT
A list of technology for regulatory sandboxes was accepted by the government. This include neurotechnology, robots, and distributed ledger frameworks in artificial intelligence technology. The needs of entrepreneurs will be reflected by ANO Digital Economy.
Which developments are included in the list
In the area of digital disruption, Russian Prime Minister Mikhail Mishustin accepted a list of inventions for experimental legal regimes. Resolution No. 1750 was signed and released on the government’s website on October 28, 2020.
There are ten innovations included in the list. This include neurotechnology, artificial intelligence , robotics and sensor technology, quantum and industrial innovations, as well as Big Data technologies. In addition, the list covers distributed ledger networks (blockchain) innovations, cellular networking, virtual and augmented reality, and emerging technologies for the industry.
“The implementation of the resolution is another move that, according to the Government,” will relieve developers from the needless regulatory burden and speed up the marketing of new digital services.
With the exception of the path of growth, testing and introduction of digital technologies, ANO Digital Economy will represent corporate interests in matters of unconventional legal regimes in the field of digital innovation. Mishustin signed a second document on this subject-an order.
This ANO was developed to fund initiatives of social significance in the field of information technology. Sberbank, Yandex, Mail.ru, Rambler, Rusnano are amongst the members of the company.
What is the Legal Experimental Regimes Act?
On July 31 , 2020, Russian President Vladimir Putin signed this bill, “On Experimental Legal Regimes in the Area of Digital Creativity,” which establishes the establishment of “regulatory sandboxes” in Russia. The President ordered the Government to approve the list of innovations that would be protected by this Legislation. On January 28, 2021, the bill will come into effect.
The new legislation provides for a framework for the implementation of experimental legal systems, including the process for launching, introducing, tracking, assessing the outcomes and the participants’ conditions. A specific regulatory framework for new product research aims to reduce the cost of production and speed up the production of promising innovations. It may be applied to the whole world if experimental control proves successful.
Sandboxes allow you to eliminate any of the regulatory restrictions that prohibit creativity from evolving. Because of the special requirements of the sandboxes, firms that produce new goods and services, as well as government agencies, are in a position to research technology without the possibility of breaching existing regulations and subsequently enter the market for them if the testing is effective.
The legislation does not specify precisely what exemptions for its members might be in the “sandbox”-unique rules are set out in the curriculum for some of them. For example, it would not be appropriate to receive such permits or licenses from government agencies within the scope of any sort of’ sandbox.’ There are two methods of being a subject of an unconventional legal system: constructing a sandbox and entering an existing one.
Initially, only these fields were included in the list of ‘regulatory sandbox’ fields of application: medical and pharmacy operations, travel, including autonomous vehicles, e-learning and distance learning technology, the financial sector, distance marketing, manufacturing, construction, public and local services. The nation, however, then agreed not to restrict the number of directions.
Now the exception is those spheres of activity that are associated with a high risk of damage to the vital interests of the individual, society and the state, including in the areas of protecting state secrets, ensuring the security of Russia’s critical information infrastructure, as well as in spheres of activity associated with possible implementation in turnover of goods, including works and services, the turnover of which is restricted or prohibited.
In several foreign countries, the mechanism of “regulatory sandboxes” is used. In the UK, in 2016, the first sandbox was built. Later, in the USA, Australia , Singapore, UAE, Malaysia, Thailand , Indonesia, Bahrain, Switzerland and Canada, they were effectively launched. In Russia, a parallel “sandbox” has been running at the Central Bank since 2018 only for fintech ventures.