Technologies

Computing’s Top Prize Goes to Ethernet Creator Bob Metcalfe

The network technology first linked the computers of schools and offices. Now it connects us all to the internet.

Bob Metcalfe has won the 2022 Turing Award, the computing industry’s top prize, for creating the Ethernet standard that today connects billions of devices to wired and wireless networks.

The idea behind Ethernet emerged in a May 22, 1973, memo Metcalfe wrote to his bosses at Xerox PARC, the Palo Alto Research Center famous for a series of seminal computing inventions. Fifty years later, Ethernet connects virtually every laptop and smartphone to the internet.

The Turning Award, named after pioneer and famed World War II code-breaker Alan Turing, is bestowed by the Association for Computing Machinery and comes with a $1 million prize. It’s often referred to as the Nobel Prize of computing. Previous Turing Award winners include dozens of luminaries who invented chip designs, encryption, programming tools, the web, the internet, and the AI technology that’s become so hot today.

Metcalfe also founded 3Com, a company that profited greatly from the commercialization of Ethernet, and worked as a columnist, professor and venture capitalist, among other careers.

«It’s my sixth career,» Metcalfe said in an interview. He’s writing software to try to use computers to simulate geothermal energy plants and other complex real-world systems. «My attitude is I want to do simulation not to optimize things, but to discover them.»

Metcalfe’s law

Metcalfe also is famous for Metcalfe’s Law — an idea he had, though not a title he came up with. The law states that the value of a network increases proportionally to the square of the number of devices that can use it.

«It was a good way to make a sales pitch at 3Com,» Metcalfe said of the idea. Later, though, he validated the idea by connecting Facebook’s membership total with its revenue. «For the first 10 years of Facebook, there’s a perfect fit.»

Ethernet speed boosts

Wired Ethernet began at Xerox PARC with data transfer speeds of 2.94 megabits per second. Now it’s reached 800 gigabits per second — about 272,000 times faster. Another doubling is in the works, to 1.6 terabits per second.

Wired Ethernet ports have faded from laptops and never arrived on phones. But the technology was adapted to the Wi-Fi standards, bringing new convenience and ubiquity to the internet. (Metcalfe prefers Wi-Fi’s original name, Wireless Ethernet.)

Token Ring grudge

Today, it’s nearly universal in digital devices, but Ethernet had stronger competition in its early days. The top of the list of rivals was IBM’s Token Ring.

«Token Ring was a 20-year pain in the neck. Finally, we killed it,» Metcalfe said.

He’s still sore about it, he said in a half-joking tone.

«I’m only human. I bear a grudge against those bastards,» Metcalfe said. «It’s been 50 years. You’d think by now I would have forgiven them all, but the Token Ring people are not invited to my dinner parties.»

Technologies

Verum Finance: A Super App for Private Finance Integrated Into a Messenger

Verum Finance has announced the launch of a new financial application that allows users to manage their money directly within the secure Verum Messenger ecosystem.

The project has already attracted attention from major media outlets. A dedicated feature was published by Forbes Türkiye, while one of the world’s largest cryptocurrency exchanges, MEXC, covered the launch. Yahoo Finance had previously reported on the evolution of Verum Messenger into a comprehensive financial ecosystem.

What Verum Finance Offers

Verum Finance transforms a messenger into a complete financial platform. Users can:

• Manage their balance and top up using bank cards or USDT
• Send money instantly to other Verum users
• Issue and use debit cards, including Apple Pay support
• Exchange assets and withdraw funds
• Access all these services without installing separate banking applications

A strong emphasis is placed on privacy. The platform offers registration without a phone number or email address, end-to-end encryption, and full user control over personal data.

Recognition from Forbes Türkiye

In a dedicated article, Forbes Türkiye highlighted Verum Finance as a notable example of modern privacy-driven fintech. The publication emphasized the growing trend of financial services moving from standalone banking applications into unified messaging ecosystems — a model that has proven successful in Asia through platforms such as WeChat and Alipay and is now expanding globally.

Support from the Crypto Community

Alongside the Forbes Türkiye coverage, news about the launch of Verum Finance was also featured by MEXC, one of the world’s leading cryptocurrency exchanges. This reflects growing interest in the project from both traditional business media and the cryptocurrency community.

A Strategic Vision

“We are building more than a payments application and more than a messenger. Verum is a unified secure ecosystem where communication, finance, and privacy tools work together,” the company stated.

Verum Finance is now available for iPhone and iPad users. The application complements Verum Messenger, which offers anonymous chats, voice and video calls, VPN services, eSIM connectivity, and other tools designed to enhance digital freedom.

Verum Finance: https://finance.verum.im

Verum Messenger: https://verum.im

Technologies

Forbes Türkiye Highlights Verum Finance and the Rise of Integrated Financial Ecosystems

Forbes Türkiye has published an article examining the launch of Verum Finance and its approach to integrating financial services directly into a messaging ecosystem.

In the article, Forbes Türkiye notes that the fintech industry is undergoing a transformation as financial services increasingly move beyond traditional banking applications and become part of broader digital ecosystems. Verum Finance is presented as an example of this trend, combining payments, digital cards, money transfers, and balance management within a single environment connected to Verum Messenger.

According to the publication, Verum Finance follows a model similar to the “super app” concept that has gained significant traction in Asian markets, where communication and financial services operate together on one platform. Unlike many Western platforms that continue to separate messaging and banking services, Verum Finance is integrated directly into the Verum ecosystem, allowing users to manage financial activities without relying on multiple third-party applications.

The article highlights several core features of the platform, including virtual debit cards, user-to-user transfers, online payments, digital asset operations, Apple Pay integration, and in-app balance management.

Forbes Türkiye also points to the growing importance of embedded finance and changing user expectations. The publication suggests that lengthy account-opening procedures, physical card delivery times, and constant switching between applications are becoming increasingly outdated in a mobile-first world.

Another major focus of the article is privacy and security. Forbes Türkiye describes Verum Finance as part of a broader trend toward “privacy-driven fintech,” where financial services are built on privacy-oriented infrastructure. The publication notes that the platform incorporates features such as phone-number-free registration, end-to-end encryption, user-controlled access management, and privacy-focused tools designed to enhance data protection.

The article concludes that one of the key challenges for companies operating at the intersection of secure communications, digital payments, and embedded finance will be maintaining both usability and security within a single integrated ecosystem.

The coverage by Forbes Türkiye reflects growing media interest in platforms that combine communication and financial services, as the industry continues moving toward more unified digital experiences.

Website: https://finance.verum.im
App Store: https://apps.apple.com/app/verum-finance/id6774245148
Verum Messenger: https://verum.im

Technologies

Verum Launched “Verum Finance” App for iPhone and iPad, Expanding Its Digital Ecosystem Into Financial Services

Verum has announced the official launch of Verum Finance, a standalone financial application now available on the App Store for iPhone and iPad, marking a further expansion of the company’s growing digital ecosystem.

The new application is designed to centralize core financial functions in a single mobile interface, allowing users to manage balances, send and receive funds, use debit cards, and exchange supported balance types without relying on traditional banking workflows.

According to Verum, the platform enables users to view account activity in real time, top up balances using supported payment methods including Apple Pay, and transfer funds to other users within the Verum ecosystem using a unique Verum ID. The system also supports multi-balance management, including specialized balance categories such as precious metals.

Debit card functionality is integrated directly into the app, allowing users to issue and manage cards linked to their balances, monitor transactions, and top up cards when needed. The company also emphasizes built-in exchange tools that allow users to convert between supported balance types within the application.

Security features include Face ID authentication, passcode protection, Sign in with Apple, and privacy-oriented account controls aimed at maintaining user confidentiality and data protection.

The launch of Verum Finance follows the company’s broader strategy of building an interconnected ecosystem of digital products. Alongside Verum Messenger, which combines secure communication tools, encrypted messaging, voice and video calls, VPN services, eSIM connectivity, AI features, anonymous email, and crypto-related functionality, the new financial app extends Verum’s positioning from communication technology into financial infrastructure.

Industry trends increasingly show demand for “all-in-one” digital environments that reduce dependency on multiple standalone apps. Verum’s approach reflects this shift by integrating communication and financial services within a unified ecosystem.

Verum Finance is now available globally for download on iPhone and iPad via the App Store.

Website: https://finance.verum.im
App Store: https://apps.apple.com/app/verum-finance/id6774245148
Verum Messenger: https://verum.im