Banksys, which had been developing and marketing Proton electronic purse technology, is spinning-off the technology arm of its company and bringing in American Express, Visa and ERG to form the new company.

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If widely adopted, the Controller technology would reduce the spinning reserve capacity needed significantly and allow the grid to operate at a higher capacity.

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Solid-state storage and memory technologies in general use less power than hard disk drives when they are active, and thus there can be power savings if some solid-state storage and memory can be used in a mixed storage technology environment in a way that reduces the spinning time of hard disk drives and thus decreases the power needs of a storage system.

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The initiative inspired several advances in laptop technology, in terms of features (flash memory instead of a spinning hard-drive), design (a laptop-to-tablet form and a waterproof keyboard) and price reductions.

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