HTC U11’s First Software Update Brings ‘System Enhancements’

The HTC U11 just started selling in North America, and it seems like HTC is already pushing a software update for the device. According to HTC’s US website, the update is already on its way, and it will upgrade your phone’s software to version 1.11.617.3. HTC did not share an extensive changelog for this update, though, all the company listed under new changes is ‘System Enhancements’, which suggests that the company is patching up some bugs with this update, and probably bringing some optimizations as well.

Now, according to some reports by users, this update will fix issues with Android Pay, and other apps which are using SafetyNet, so that’s great news if you’re using Android Pay. Now, the phone will let you know when the update is ready to install, but if you’re eager to check for yourself, you’ll need to navigate to All apps -> Settings -> About and then select ‘Software updates’. After you do that, you’ll need to tap the ‘Check now’ option, and then ‘Download’. Do keep in mind that your phone might reboot several times during the upgrade process, so don’t panic if that happens. Also, you’ll need to make sure that you have at least 35 percent battery left on the HTC U11 if you want to update it, otherwise, you’ll need to connect the device to a charger. Now, there’s a way for you to manually update the HTC U11 if that’s what you want, you will need to download HTC’s Sync Manager and install the RUU file yourself. If you’d like to get more info regarding manual installation, HTC explains it step-by-step, all you have to do is follow the source link down below.

The HTC U11 was announced last month by the company, and it is made out of metal and glass. This phone sports a 5.5-inch QHD (2560 x 1440) display, along with 4GB / 6GB of RAM and 64GB / 128GB of native storage, depending on the market. Qualcomm’s Snapdragon 835 64-bit octa-core SoC fuels this smartphone, and a 3,000mAh non-removable battery is also a part of this package. A 12-megapixel OIS snapper can be found on the back of this smartphone, and Android 7.1 Nougat comes pre-installed with HTC’s Sense. If you’d like to know more about the HTC U11, check out our official announcement of this smartphone.

Apple announces peer-to-peer payments with new operating system

Apple Inc. AAPL, -1.07% announced peer-to-peer payments using Apple Pay Monday, putting it in competition with PayPal Inc.’s PYPL, -0.17% Venmo. Apple announced the update, along with its new iOS 11 operating system, at its developer conference. IOS users will be able to send payments through iMessage and also store the money received on Apple Pay Cash, a digital debit card. Shares of Apple were down 1% midday Monday.

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Apple Inc. announced peer-to-peer payments using Apple Pay Monday, putting it in competition with PayPal Inc.’s Venmo. Apple announced the update, along with its new iOS 11 operating system, at its developer conference. IOS users will be able to send payments through iMessage and also store the money received on Apple Pay Cash, a digital debit card. Shares of Apple were down 1% midday Monday.

R3 Aims to Build the ‘Operating System of Finance’

R3 CEO David Rutter has stated that his company seeks to build the “operating system of finance” and compared their project to a platform like Apple’s App Store.

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R3 (or R3CEV) is a distributed database company headquartered in New York City. The firm leads a consortium aimed at the development of blockchain database usage in the financial system. Their plan is to unify the banking system by one ledger, which would allow the validation of transactions in near-real time. The company created a blockchain-based platform called “Corda“, which can be used by developers to build applications for financial institutes. Just as Microsoft developed the Windows operating system to run various software, R3 seeks to do the same with Corda.

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He stated:

Corda is a completely open system that is going to empower entrepreneurs to be able to build Corda apps, roll them out, and actually have them be adopted because they will work with the current financial rails, in a way that is cognizant of and compliant with the regulatory regime.

At the end of May, R3 raised a record $107 million in a fundraising round, which is currently the largest single investment in a blockchain company. The investors included banks, such as Japan’s SBI group, the UK’s HSBC, Brazil’s Banco Bradesco, French investment bank Natixis. The first two stages of the fundraising were only open to members of the consortium, which includes more than 70 of the world’s largest financial institutes.

In an interview with Business Insider,  Rutter said banks are spending tens of billions of dollars each year on writing APIs between trading and order management systems. The CEO stated that such third party software “doesn’t communicate easily”. Santander’s 2015 report backs Rutter’s statement, where researchers of the financial institute reported that the blockchain technology could save banks as much as $20 billion per year.

R3CEV works together with 40 big banks that are current investors of the company, and a further 50 members of the consortium. According to Rutter, the financial institutes are interested in different “themes” when deploying the blockchain tech, including trade finance, global digital identification, post-trade processing, and payments.

Rutter said that a major part of the $107 million will be spent on the development of Corda, as well as encouraging developers to start building on the platform using the training material provided by R3.

“One point I try to get across when I meet these new entrepreneurs with a great idea is that if you are a JPMorgan or a Goldman Sachs or a Wells Fargo or HSBC, you can see an amazing presentation by a company that has five, ten, 20 employees and $10 million in the bank. You CANNOT go to your boss and say I want to move this mission critical function to this thinly capitalized 20 man shop,” Rutter said.

However, not all banks are so positive of R3’s project. JP Morgan, the largest financial institute of the United States, left the consortium at the end of April. Since JP Morgan is one of the founding members of the Ethereum Enterprise Alliance, a rival blockchain platform committed to the business use of Ethereum, many think the bank left R3’s consortium since it was a rival project. Along with JP Morgan, Goldman Sachs, Santander, and State Street had left R3CEV. Despite the fact that multiple financial institutes left the project, Rutter expects a positive outcome.

“Those guys [banks who left R3], I’m sure they’ll work with R3 in the future, especially as we become the standard. As you know, the network part of this is very important. There’s been a lot of people that have talked about this as being a team sport. You could talk to the 90 members of R3 and they would increase the confidence that we’re on the right track with the right sponsorship. They’ll come back. They were there at the beginning, they’ll come back,” Rutter said.

GopherOS: an experimental operating system written in Go

Hi, I am the author of gopher-os. It started as a fun research project to learn more about the Go runtime internals and I didn’t really expect it making it to HN.

If you take a look at the Go runtime sources you will notice that all the low-level arch/os-related bits have been split into separate files which usually invoke some syscalls (e.g. the memory allocator eventually calls mmap)

The idea I am currently investigating is to first provide an implementation for things such as physical memory allocation and virtual memory mapping which would ultimately allow me to bootstrap the Go allocator. From that point onwards the plan is to incrementally add more features and gradually initialize the rest of the runtime.

This is much more difficult than it sounds as all code must be written in such a way to prevent the compiler from calling the runtime allocator (no variables allowed to escape to the heap).

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driusan 2 days ago

I started writing a kernel in Go a while ago (and since abandoned it due to not having time.. I got as far as having a simple built in shell that let you do ls and cat on a FAT filesystem). The part about memory allocation and virtual memory wasn’t much more difficult than it would be if you were implementing your kernel in C or some other low level language.

The hard part is once you get memory and paging working, you’ll need a syscall interface. If you want to be able to run Go userspace programs, that means you need to implement the syscall interfaces for an OS that’s already supported, and can’t just go out and design your own, and at that part it starts getting a lot less fun.

laumars 2 days ago

Could you instead write your own syscalls but also your own $GOOS target for the compiler?

That’s possibly more work but it’s the approach I would have taken as it seems more fun than just replicating Linux (or whatever) syscalls.

driusan 1 day ago

Sure, you could, but then you need to fork the Go compiler too (and hopefully eventually get your GOOS target mainlined, which seems unlikely unless your OS gets popular) or you could do your userspace in something other than Go and implement what you need for that.

My point was just the memory allocation and paging isn’t significantly different than it would be writing an OS in any other language, it’s once you get to the part where you need to implement other people’s interfaces/standards to make a viable product that it starts bogging down (if you go that route. If you go your route, then you have two major projects instead of one: writing an OS, and adding a new OS target to an existing toolchain.)

DDN IME flash cache, SFA operating system get updates

DataDirect Networks (DDN) updated its Infinite Memory Engine (IME) flash cache and Storage Fusion Architecture (SFA) operating system to try to improve performance and resilience for higher capacity flash storage systems.

Version 1.1 of the DDN IME NVMe-based flash cache and I/O processing system adds support for the latest Intel Xeon Phi x86 processors (code named “Knights Landing”) and 40 and 100 Gigabit Ethernet networking. IME already supported 100 Gbps InfiniBand EDR and Intel’s OmniPath Architecture.

DDN sells IME as software-only or on an appliance. DDN also improved the software to enable a cluster to non-disruptively handle a node failure and redistribute journaled data to the remaining nodes, and boost metadata and flash performance. IME added support for customer-configurable erasure code options, offering protection against the failure of one, two or three drives or nodes.

The DDN IME software has server and client components and deploys in front of a file system or parallel file system. The IME client intercepts I/O fragments, applies erasure coding, and then delivers the fragments to IME servers. The DDN IME servers manage the flash drive pool and internal metadata and arrange the I/O for optimal performance before synchronizing the data with the backend file storage.

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DDN IME enables faster rebuilds

DDN claims the IME improvements would enable customers to rebuild 1 TB of data in less than four minutes, in comparison to peak rebuild times of about 2.5 hours with hard disk drives under RAID.

Laura Shepard, senior director of product marketing at DDN, said the IME enhancements would help customers who are increasing the amount of storage they deploy for analytics and machine learning applications.

DDN IME 1.1 is due for general release in the third quarter.

“We’re working on availability at scale with erasure coding everywhere across the product line,” Shepard said. “Erasure coding is the data protection of choice on IME and also on our [WOS] object storage, and now we’re also adding it for our persistent file system tier on our SFA product line.”

Shepard said declustered RAID would enable the software-based sharding of parity data bits across a large pool of drives in comparison to a small high availability pool in traditional RAID. DDN will start with support for the equivalent of RAID 1, 5, and 6 and release more options later, she said.

“You can have a much lower percentage of your overall capacity dedicated to parity and still have a very high level of data protection,” Shepard said of declustered RAID. “Plus, because parity can be distributed widely among a much larger number of drives than in a traditional RAID [configuration], you can rebuild much smaller bits from each drive, making the rebuilds much faster.”

Shepard said DDN uses a technique called vertical rotation with its declustered RAID to mitigate latency. She said the system offsets writes from one drive to the next so the drive’s on-board cache is not overwhelmed.

“The adaptive resilience features really help the end user tailor how performant they want their storage to be versus how much redundancy they want built in,” said Addison Snell, CEO of Intersect360 Research in Sunnyvale, Calif. “That’s just a slider bar that people can tune on their own.”

DDN steps up Lustre support

DDN also spotlighted its ExaScaler Enterprise Lustre Distribution and its work in the open source Lustre community in the wake of Intel’s April announcement that it would discontinue its commercially supported Lustre distribution.

“They’re really helping provide a landing space for the stewardship of high-performance Lustre for enterprise in a supported way,” Snell said. He said Intel offered the most significant commercially supported Lustre option, and DDN would provide “a safe haven” for high-performance-computing users that “want an actual enterprise that’s backing and providing support and contributing back to the open source community.”

Corruption Is the 'Operating System' in Honduras: Report

A new report suggests that corruption in Honduras is not simply the product of malfeasance by individual actors, but rather comprises an institutionalized system that serves to benefit a tight circle of elites, mirroring other corrupt systems that have been uncovered in Latin America.

The report from the Carnegie Endowment for International Peace, titled “When Corruption is the Operating System: The Case of Honduras,” highlights how a combination of historical factors has paved the way for the current corrupt political economy in the country.

The report’s author, Sarah Chayes, argues that “Honduras offers a prime example of … intertwined, or ‘integrated,’ transnational kleptocratic networks.”

In other words, powerful international business interests as well as criminal organizations with transnational ties have corrupted government institutions at various levels, with little resistance from public officials, who have also benefitted from this graft.

As InSight Crime noted in its investigative series on elites and organized crime in Honduras, the country’s economic history differs from that of most of its neighbors in the sense that “the most powerful economic elites have emerged from the service, banking, media, and telecommunications sectors,” rather than land-based agricultural and industrial sectors.

These “transnational elites,” often descended from Eastern European and Middle Eastern immigrants, have used both their international business ties as well as graft to further their economic interests. Similarly, both the “traditional” land-based elite and the “bureaucratic elite” — consisting primarily of military families and regional politicians — have engaged in corruption in order to maintain their socioeconomic status.

Chayes stresses that the three “spheres” of the kleptocratic system in Honduras — the public sector, the private sector and criminal elements — “retain a degree of autonomy, and are often disrupted by internal rivalry.” But at times, their interests do overlap and there may be a degree of coordination between them.

Echoing the findings of InSight Crime’s investigation, the report states that over “the past decade or so, both the elite public- and private-sector circles have been establishing increasingly close connections with the out-and-out criminal networks that run the narcotics trade as well as other types of smuggling, such as trafficking in people.”

And while the private and public sectors of the kleptocratic network are not identical, they are bound together by what Chayes calls an “elite bargain” that perpetuates corruption.

SEE ALSO: Coverage of Elites and Organized Crime

Chayes says that this dynamic may be intensifying under the administration of President Juan Orlando Hernández, who took office in 2014 and is currently leading the field among contenders in the presidential election scheduled for November.

The report argues that Hernández has made a “strategic effort” to consolidate government power in the executive branch, thereby strenghtening a close-knit network of elites with ties to the public, private and criminal sectors that already wield disproportionate political and economic control.

As one person interviewed for the report put it, “The politicians are at the service of the economic elite.”

Prior to becoming president in 2014, Hernández served as the president of congress, which is in charge of all congressional proceedings. During this time, Chayes claims a “favorable legislative climate” was created by passing laws that benefitted “private sector network members.”

For example, in 2010, the creation of the Commission for the Promotion of Public Private Partnerships essentially funneled “public financing into private contracts via a nontransparent bidding process,” the report found.

Consequently, Chayes explains that this allows the president to “personally direct or approve” public-private projects, including terms and purchase guarantees. And when marginal improvements in oversight were proposed in 2014, officials resisted the measures.

As president of congress and eventually as head of state, Hernández also oversaw several other policy initiatives that bolstered the power of the executive branch while weakening congress, the judiciary and other institutions that could help put a brake on graft.

Hernández has strengthened the role of the military in internal security operations, packed the judiciary with top officials favorable to his pro-business agenda, and instituted a sweeping “secrecy law” that classifies as secret information “likely to produce ‘undesired institutional effects,’ or whose dissemination might be ‘counter to the effective development of state policy or normal functioning of public sector institutions,'” the report states.

According to the report, “The bulk of the actions or inactions of these agencies has served to facilitate or defend revenue maximization for the principal private-sector network members, or has provided siphoning opportunities for public officials.”

Honduran President Juan Orlando HernándezHonduran President Juan Orlando Hernández

InSight Crime Analysis

Sophisticated corruption schemes are nothing new in Latin America, and Honduras is not the only country where widespread graft has had negative consequences for society in terms of political representation, economic opportunity and human rights. However, corruption networks in different countries function in different ways. And understanding these differences is key to formulating effective solutions for rooting out graft.

The picture painted by Chayes’ report suggests that the dynamics of corruption in Honduras are more similar to those observed in Brazil, for example, than those seen in Guatemala.

Former Guatemalan President Otto Pérez Molina and former Vice President Roxana Baldetti created a “mafia state” system, in which Pérez and Baldetti acted as the bosses, overseeing various corruption schemes and taking a cut of all the graft occurring under their supervision. In Brazil, on the other hand, corruption is not as centralized; rather, it has become a “rule of the game” in business and politics.

The case of Honduras is more similar to that of Brazil in that there is no unified leadership of a grand corruption scheme, but rather a sort of “elite bargain” to play by the rules of a system that encourages and ensures impunity for engaging in graft.

This is perhaps best exemplified by elite resistance to establishing an internationally-backed anti-corruption body in Honduras, which eventually came into being early last year as the Support Mission Against Corruption and Impunity in Honduras (Misión de Apoyo Contra la Corrupción y la Impunidad en Honduras – MACCIH). This parallels Brazilian elites’ ongoing attempts to derail sweeping anti-corruption investigations targeting dozens of politicians, including the current president.

SEE ALSO: Honduras Elites and Organized Crime

The main similarity among all three cases — Honduras, Brazil and Guatemala — is that corruption was used to further concentrate power in the hands of an already powerful elite.

In Honduras, for instance, officials and contractors siphoned massive amounts of money from the national social security system and used some of the booty to fund political campaigns for members of Hernández’s National Party (Partido Nacional) — something the president himself has admitted.

Similarly, in Guatemala, Pérez Molina and Baldetti were elected in 2011 in part thanks to illicit campaign contributions from businesses and individuals that they then paid back once in power by awarding their donors state contracts.

And in Brazil, a portion of bribes and kickbacks related to public works contracts was funneled into political campaigns and vote-buying in Congress, serving to enrich both private business interests as well as government officials on the take, while simultaneously ensuring the perpetuation of corruption.

Chayes says that the model of corruption represented by Honduras — and in certain respects mirrored in Brazil and Guatemala — is not unique to Latin America.

“This corruption model, I would say, is something that applies to some 60 or 70 countries around the world,” Chayes told InSight Crime. “And it works in different ways in each of those countries. However, there are the same kinds of overlaps between the public and private sectors where government institutions are bent to serve network purposes.”

Chayes stresses that moving forward it is important to first recognize today’s corruption as the “intentional operating system of sophisticated and successful networks.”

Today’s corruption is not merely “cash in an envelope,” Chayes argues, but involves powerful, often international networks of corrupt actors “writing the rules governing political and economic activity to their own benefit.”

System reboot for Indian real estate

Indian real estate is witnessing a ‘systems re-boot’ that began with demonetization, the legislation on benami properties, RERA Act and now, Goods & Services Tax. The Union Budget for 2017-18 also provided affordable housing with infrastructure status, coupled with the Pradhan Mantri Awaas Yojana (PMAY) to incentivize affordable housing production with interest subvention schemes.

Real estate sector will benefit owing to the cumulative effect from reformist and progressive policies, including liberalized FDI Rules, REITs and InviTs, Credit Linked Subsidy scheme – reduction in compliance cost, tax mgt expenses, provision of Input tax credit; the Smart Cities initiative with a budget of Rs 1 lakh crore as also the AMRUT – Atal Mission for Rejuvenation and Urban Transformation, with a budget of Rs 77,000 crore, aims to provide basic services like water, sewerage, urban transport as also the National Investment & Infrastructure Fund, with a budget of Rs 4,000 crore. So, if the aim is ‘Housing for All by 2022’, the ‘Smart Cities’ where this will happen are in process of being built.

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The latest event that impacts real estate is GST. At this stage, the indications are that GST will hopefully, not increase the over-all taxation burden on real estate. This should augur well for the home buyers and industry.

While the GST provision of partially covering real estate under the 12% on works contract aspect is fine, the real estate industry had high expectations to subsume stamp duty and other additional levies under GST. Non inclusive of these additional heavy duties might lead to inflationary impact on Housing -an industry that has a multiplier effect on the GDP, enhances employment as it is labour intensive, works as an economic driver for the nation and is important from many aspects. As we understood it, the purpose of GST was to bring uniformity in taxes levied on various sectors of industry.

Housing for All by 2022 is among the most ambitious initiatives by Hon’ble Prime Minister Shri Narendra Modi. To amplify and boost these initiatives, Finance Minister has announced interest subvention in home loans for affordable homes. Rural fund allocation under PMAY has been raised from Rs 15,000 crore to Rs 23,000 crore, with the target to build 10 million homes by 2017-18.

Aspects that point to things being positive include funding for Infrastructure development having almost doubled from Rs 9,850 crore per annum; FDI-related reforms having shown improved inflows touching a record $43 billion in FY17; FDI Investment in real estate sector being $5.7 billion; PE funding stood at $ 32 billion, according to the 2016 World Investment Report prepared by UN. In light of these, the Realty Index improved by over 50%.

According to a report by CLSA India, a $ 1.3 trillion housing boom is set to be the country’s next growth driver. It is expected to add 60 million new houses during the 6 years beyond 2018, while also creating 2 million jobs annually. Overall, with the economy moving upward, the fillip in housing sector alone should witness an increase in GDP by at least 1%. This also indicates ‘pull’ factor for sales of affordable housing. The Indian economy is set to grow at 7.5% to become the 4th largest ($ 3.5 trillion) economy in world by 2022. Good signals are being observed in the micro markets witnessing high number of enquiriesand these will definitely result in leads becoming closures soon. My assessment of the situation is that sales are gradually picking up. In cities like Mumbai, Thane and Panvel home buyers are making buying decisions.

Meeting the target of 25 million urban houses and 45 million rural houses by 2022 can become a reality when private sector real estate developers work in sync with the government. Both the stakeholders will need to work together so as to create the mixed -used townships and smart cities to encompass the target.

I began by saying Indian real estate is witnessing a ‘systems re-boot’, but the positivity of it all makes me want to rephrase that as ‘change in operating system’.

Jupiter Is the Oldest Planet in the Solar System, New Evidence Shows


  • Jupiter’s age key to understanding how the solar system evolved
  • Jupiter had an immense effect on the dynamics of the solar accretion disk
  • Jupiter’s core grew to about 20 Earth masses within 1 million years

Jupiter – the largest planet in our solar system – is also the oldest, say scientists who found that the gas giant formed within four million years after the formation of the Sun.

Knowing the age of Jupiter is key for understanding how the solar system evolved towards its present-day architecture. Although models predict that Jupiter formed relatively early, until now, its formation had never been dated.

Jupiter Is the Oldest Planet in the Solar System, New Evidence Shows

“We do not have any samples from Jupiter (in contrast to other bodies like the Earth, Mars, the moon and asteroids),” said Thomas Kruijer, from Lawrence Livermore National Laboratory (LLNL) in the US.

“In our study, we use isotope signatures of meteorites (which are derived from asteroids) to infer Jupiter’s age,” said Kruijer lead author of the study published in the Proceedings of the National Academy of Sciences.

By looking at tungsten and molybdenum isotopes on iron meteorites, scientists found that meteorites are made up from two genetically distinct nebular reservoirs that coexisted but remained separated between one million and 3-4 million years after the solar system formed.

“The most plausible mechanism for this efficient separation is the formation of Jupiter, opening a gap in the disc and preventing the exchange of material between the two reservoirs,” said Kruijer.

“Jupiter is the oldest planet of the solar system, and its solid core formed well before the solar nebula gas dissipated, consistent with the core accretion model for giant planet formation,” he said.

Jupiter is the most massive planet of the solar system and its presence had an immense effect on the dynamics of the solar accretion disk.


Scientists showed through isotope analyses of meteorites that Jupiter’s solid core formed within only about one million years after the start of the solar system history, making it the oldest planet.

Through its rapid formation, Jupiter acted as an effective barrier against inward transport of material across the disk, potentially explaining why our solar system lacks any super-Earths (an extrasolar planet with a mass higher than Earth’s).

The team found that Jupiter’s core grew to about 20 Earth masses within one million years, followed by a more prolonged growth to 50 Earth masses until at least 3-4 million years after the solar system formed.

The earlier theories proposed that gas-giant planets such as Jupiter and Saturn involved the growth of large solid cores of about 10 to 20 Earth masses, followed by the accumulation of gas onto these cores.

So the conclusion was the gas-giant cores must have formed before dissipation of the solar nebula – the gaseous circumstellar disk surrounding the young sun – which likely occurred between 1 million years and 10 million years after the solar system formed.

“We’re able to date Jupiter much more precisely within 1 million years using the isotopic signatures of meteorites,” researchers said.

Although this rapid accretion of the cores has been modelled, it had not been possible to date their formation.

“Our measurements show that the growth of Jupiter can be dated using the distinct genetic heritage and formation times of meteorites,” Kruijer said.

Apple announces a new operating system for the Mac: High Sierra

Image result for Apple announces a new operating system for the Mac: High SierraApple’s senior vice president of software engineering Craig Federighi took the stage during Apple’s WWDC 2017 in San Jose on Monday where he unveiled macOS High Sierra.

MacOS High Sierra is the successor to macOS Sierra, which Apple announced last year. It offers plenty of new features.

Safari is faster, Apple said, and will prevent videos from autoplaying when you visit a page. It also has “Intelligent tracking prevention” to make sure websites aren’t invading your privacy and revealing your history.

Mail has also been refined with new search functions. Spotlight now controls search within mail. The app also now supports split view, so you can type out an email while doing something else, like surfing the web.

Federighi said the largest refinement in macOS High Sierra is in Photos, which now lets you search by keyword, favorites, type of photo and even by face with facial recognition (Apple has worked with this before.) Any edits made to photos in Photoshop sync right back to the Photos app, too.

Apple File System is also coming to macOS as the new default file management system. It was originally announced last year and helps Apple provide more secure storage.

macOS Sierra also supports virtual reality for the first time ever, which will be enabled by new powerful computers Apple is announcing during the show, such as its new iMacs.

macOS High Sierra will be available in the coming months.

Operating System for Wealth Managers Addepar Raises $140 Million

Last week it was announced that fintech wealth management platform Addepar had raised $140 million in its Series D round of funding. The funding round was led by Valor Equity Partners, 8VC and investment manager Harald McPike.

Operating System for Wealth Managers

Based in Mountain View, California, Addepar, which bills itself as the “operating system for the financial world”, is a data-driven wealth management platform. Its clients include family offices, wealth advisors, and private banks, who use the company’s software to visualize and manage investments. The platform makes it easier for wealth managers to visualize not only a portfolio’s exposure on an individual asset class level but also a portfolio’s total value based on real-time data. In October of last year, following news that the company had partnered with Salesforce, Addepar announced it had launched an Open API which now allows its clients to “build their own applications on the Addepar platform, enhancing the value of the overall system for Addepar clients”. Clients are now able to have their developers create a sign on that will consolidate their credentials. Two-factor authentication is also available to clients which adds an extra level of security to their login process.

Big Name Clients

Notable clients that use Addepar include Morgan Stanley, which announced earlier this year that 20 of its financial advisor teams would incorporate Addepar’s platform, financial services firm Jeffries, Iconiq Capital, which manages assets of former Zynga CEO Mark Pincus and Facebook’s Mark Zuckerberg. The company’s clients manage over $650 billion through Addepar’s platform according to recent

Addepar was co-founded by Joe Lonsdale, who also helped to found financial big data company Palatir along with Peter Thiel. The company’s clients manage over $650 billion through Addepar’s platform according to recent reports. The same reports claim that that number was less than half a little over a year ago. With year-over-year growth along with the news of another successful round of funding, Addepar is poised for continued improvements in the near future.