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WhatsApp Rolls Out New Features, Updates Video Calling Experience

By
Ojukwu Emmanuel
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0

Meta-owned messaging platform WhatsApp has rolled out new features, and updated the video calling experience, positioning it as a formidable competitor in the video communication market.

The platform included screen sharing with audio and Video calls across devices including phones and laptops, allowing up to 32 people to join a Video conference call, with a speaker spotlight feature. This upgrade makes WhatsApp a viable option for larger virtual meetings for businesses, family   Hangout, amongst others.

Also, WhatsApp expanded video calling support across devices with Apple’s FaceTime, which allows iPhone and iPad users to have up to 32 participants on video calls.

Additionally, Meta has introduced the Meta Low Bitrate (MLow) codec on WhatsApp to significantly improve call reliability, especially for users with poor network connectivity or older devices.

This upgrade represents a substantial improvement over the previously used open-source codec, Opus, which Meta had deployed across its real-time communication products.

The new proprietary codec, MLow, is designed to deliver twice the audio quality of Opus while maintaining 10 percent lower computational complexity.

This means users can expect clearer and more reliable audio calls without putting additional strain on their device’s processing power. It is interesting to note that MLow has already been implemented in Instagram and Messenger calls and is now being rolled out on WhatsApp.

This enhancement aims to provide a consistent and high-quality calling experience across all Meta platforms, ensuring that users stay connected more effectively, regardless of their network conditions or the age of their devices.

WhatsApp’s newly rolled-out features are designed to work seamlessly across various devices including smartphones, tablets, and desktops, ensuring a consistent user experience.

With over two billion users globally, WhatsApp has a massive built-in user base, which gives it a significant edge over many competitors. The ease of use and familiarity with the app can drive quick adoption of the new video calling features.

Notably, the new video calling updates are integrated into an already robust platform that includes messaging, file sharing, and voice calling. This integration provides users with a one-stop solution for various communication needs.

These latest updates not only enhance its calling experience but also position it as a competitive player in the video communication industry. The ability to host large video calls, coupled with improved audio and video quality and an intuitive interface, makes WhatsApp a strong alternative to existing platforms, poised to meet the evolving needs of its vast user base.

BlackRock Announces Decision to Liquidate $400m in iShares ETFs, citing Nigerian and Kenyan Economic Challenges

By
Samuel Nwite
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0

BlackRock, one of the world’s leading asset managers, has announced plans to liquidate its iShares exchange-traded funds (ETFs) valued at $400 million, citing unprofitable business conditions in Nigeria and Kenya.

The primary issue prompting this decision is the difficulty of currency repatriation, compounded by the recent devaluation of Nigeria’s naira.

The iShares Frontiers fund, which has invested heavily in emerging market equities in Nigeria and Kenya over the years, will see its final trading day on March 31, 2025, marking the anticipated conclusion of an extended liquidation process. This decision follows a proposal approved by the fund’s board of directors, who determined that the persistent liquidity challenges in frontier markets made liquidation the most viable option.

“In light of persistent liquidity challenges in certain frontier markets, including among other things, delays or limits on repatriation of local currency, the board determined that it is in the best interest of the fund and its shareholders for the fund to liquidate,” iShares stated.

The extended liquidation period is a direct result of the significant impact of converting Nigeria’s naira, which complicates the liquidation process. iShares highlighted the unpredictability of currency conversions as a key factor influencing the timing of the fund’s closure.

“Currency conversions, including conversion of Nigeria’s currency, the naira, will impact the timing of the fund’s liquidation. As a result, the fund will enter into an extended liquidation period,” the company stated.

The fund will cease trading and the creation and redemption of creation units will halt after market close no earlier than August 12, 2024.

Recent Divestments

Ahead of the full liquidation, BlackRock has already divested $5.2 million of its holdings in Kenyan companies. This includes shares in Safaricom ($2.8 million), Equity Group ($1.5 million), and KCB Group ($885,000), all listed on the Nairobi Securities Exchange (NSE).

Adding to the growing list of companies exiting Nigeria

BlackRock’s planned exit from Nigeria marks another setback for the country’s economic landscape under President Bola Tinubu’s administration, which is currently struggling with declining economic fortunes. The move by BlackRock follows similar actions by other multinational companies facing challenging business environments in Nigeria.

The withdrawal of BlackRock adds to a growing list of multinational companies that have exited Nigeria in recent years. Prominent examples include Diageo, the parent company of the Guinness brand, which announced its decision to sell its controlling shares to Tolaram after recording a loss of over N61 billion in the financial year ending March 31.

Additionally, UK pharmaceutical giant GlaxoSmithKline shut down its Nigerian operations, citing an unsustainable business environment. Tech giant Microsoft also announced its exit from Nigeria, following persistent economic challenges and an unfavorable business climate. Other companies like South African retail giant Shoprite, Truworths, and fashion retailer Mr. Price have also pulled out of Nigeria, citing currency fluctuations, import restrictions, and complex business conditions.

Economic Downturn Since 2015

The economic challenges in Nigeria can be traced back to the administration of President Muhammadu Buhari, which began in 2015. Under Buhari’s leadership, the Nigerian economy suffered from several issues. The economy entered a recession in 2016, the first in 25 years, driven by falling oil prices and a lack of economic diversification. Persistent foreign exchange shortages made it difficult for businesses to import goods and repatriate profits. Inflation surged, eroding consumer spending power and leading to a rising cost of living.

Tinubu’s Policies Compounding Issues

President Bola Tinubu’s administration has implemented policies that further compound these economic issues. The removal of fuel subsidies led to a significant increase in fuel prices, exacerbating inflation.

The unification of exchange rates resulted in a sharp depreciation of the naira, increasing costs for businesses and consumers. In response to rising inflation, the Central Bank of Nigeria (CBN) has aggressively raised interest rates, making borrowing more expensive and stifling investment.

Against this backdrop, inflation has significantly eroded the spending power of Nigerian consumers, crippling economic activities and making it difficult for companies to thrive. The annual inflation rate hit 33.69% in April 2024, up from 29.90% in January, marking the highest level in 28 years. Food inflation soared to 40.53%, putting immense pressure on household budgets and reducing disposable income.

Big Bang Moment In Crypto: BlockDAG’s Keynote 2 Rockets Past ApeCoin & Worldcoin with $5M Daily Sales

By
TI Partners
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0

While Worldcoin’s value dips amid its ongoing halt in Spain due to data privacy issues, ApeCoin shows unpredictable returns, with an ROI barely touching 0.80%, making investors cautious. Meanwhile, BlockDAG emerges as a frontrunner with its Keynote 2 unveiling, boasting an 1120% price surge in Batch 18 as its presale rockets to $49.5 million. This keynote showcased substantial tech upgrades and mining enhancements, predicting daily earnings to spike to $5 million, marking BlockDAG as a standout investment.

Worldcoin Token Price: Navigating Hurdles and Uncertainty

Worldcoin (WLD) is currently navigating tough waters, especially in Spain, where its operations are paused until 2024’s end for a GDPR evaluation. This suspension follows concerns regarding Worldcoin’s practice of collecting biometric data by scanning irises for digital IDs, sparking global privacy alarms and leading to bans in multiple nations. These issues have drastically reduced Worldcoin’s market value, dropping 55% since its March peak, now trading at approximately $4.79. Its unpredictable regulatory outlook renders it a less appealing investment choice.

ApeCoin Price: Analyzing Stability and Growth Prospects

ApeCoin, rooted in Ethereum, aims to facilitate governance and transactions in the Ape-verse. Despite its intended utility, ApeCoin has faced significant price swings, offering a scant potential ROI of just 0.80%. This instability has left investors hesitant about its reliability. As ApeCoin’s market potential is tied to Yuga Labs’ success, its pronounced volatility and low ROI have prompted investors to explore more lucrative alternatives, with many turning to BlockDAG.

BlockDAG’s Keynote 2: Peering into the Future of Mining

BlockDAG’s recent Keynote 2 was a landmark event that revealed significant achievements and upcoming initiatives, sparking widespread excitement. This keynote introduced the beta version of the X1 Crypto Miner app and blockchain enhancements, highlighting BlockDAG’s dedication to innovation. It also spotlighted the upcoming mainnet launch, new development tools, and an imminent DOXing video featuring its all-human team, emphasizing BlockDAG’s potential to transform the blockchain realm.

Moreover, BlockDAG’s mining technology, particularly the X10 Miner, received significant attention during Keynote 2. This compact yet robust mining tool combines energy efficiency and scalability and is capable of mining up to 200 BDAG daily with a 100 MH/s hash rate. Its user-friendly design and quiet operation make it an appealing choice for novice and seasoned miners. Integrating ASIC technology ensures top performance, positioning BlockDAG as a frontrunner in the mining hardware and crypto NFT sectors.

BlockDAG’s ongoing presale success has solidified its reputation as a prime investment destination. The $49.5 million collected during Batch 18 reflects community confidence in BlockDAG’s vision. With projections to reach $5 million in daily earnings, the rapid presale progress and robust support underscore the project’s viability and potential for significant returns. The buzz around the mainnet launch and continual tech advancements create a buzz among investors, spurring further interest in the presale.

Final Thoughts

The difficulties faced by Worldcoin and ApeCoin’s instability have pushed investors towards more promising avenues. In contrast, BlockDAG is reshaping the crypto market with its pioneering technology and strategic progress. BlockDAG’s Keynote 2 captured global attention and showcased the project’s potential to redefine blockchain technology.

With its advanced X10 Miner and thriving presale, which raised over $49.5 million and aims for $5 million daily, BlockDAG is poised to be a major player in the crypto NFT realm. Investors seeking a significant crypto venture should eye BlockDAG’s mineable network, which is poised to generate substantial wealth for its community.

 

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

BlockDAG Captivates Polygon and Litecoin Investors After Remarkable Moon Keynote 2 Launch and a $49.5M Presale

By
TI Partners
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0

BlockDAG is swiftly emerging as a frontrunner in cryptocurrency thanks to its revolutionary Moon Keynote, which has set a vibrant outlook for 2024. As Polygon (MATIC) remains steady within its trading boundaries and Litecoin (LTC) encounters resistance nearing the $90 mark, BlockDAG’s pioneering technologies and strategic promotional efforts draw substantial investor attention.

The Moon Keynote was a launchpad for over 45 new features, including a beta version of the X1 app and forthcoming initiatives like Metamask integration and EVM compatibility. With a staggering 1120% rise in price and $49.5 million accumulated from the presale, BlockDAG is on track to reach a market price of $1 by 2024, positioning it as a highly attractive investment, overshadowing its competitors with its rapid growth potential.

Polygon (MATIC) Positioned for Potential Breakout

Currently, Polygon (MATIC) finds itself in a consistent trading range that has lasted two months, even amid positive market vibes following Bitcoin’s ascent past $70,000. The price of MATIC oscillates between $0.75 and $0.62, with a pivotal level at $0.685 to watch. Investors should approach with caution due to the potential high liquidation levels at $0.762 and $0.8.

Despite a failed attempt in March to overcome the $1 mark, leading to a drop to $0.6, the Relative Strength Index (RSI) shows subdued momentum, stabilising around 50. Nevertheless, a rise in On-Balance Volume (OBV) hints at an impending breakout. Investors should keep an eye on the $0.685 level for potential buying opportunities, as MATIC offers promising prospects for a breakout and should be closely monitored this June.

Litecoin’s Challenge to Surpass $90 Despite Favorable Trends

Litecoin has seen more than a 6% increase, briefly climbing over $80 but struggling to maintain support beyond $90, typically hovering around $84 in recent days. However, a 10% surge in trading volume, as noted by CoinMarketCap, signals a spike in investor interest.

Although market sentiment remains positive, Litecoin’s inability to breach the $90 threshold has led some investors to pull back, slowing its growth momentum. The ongoing battle between bullish and bearish forces renders Litecoin’s market behaviour quite volatile. Market analysts believe that while increased investor activity could propel Litecoin beyond $90, caution is advised as a downturn in market conditions could trigger a decline in the upcoming weeks.

BlockDAG’s Ascent to $1 Following an Impressive Moon Keynote

BlockDAG is quickly becoming a top choice among altcoins for 2024, spurred by its recent Moon Keynote, which was extraordinarily broadcast from the moon. The presentation unveiled over 45 new updates, emphasising BlockDAG’s advancements in terms of speed, accessibility, security, and scalability.

The keynote also introduced the X1 app beta. It highlighted several blockchain enhancements, showcasing BlockDAG’s effective marketing techniques, including powerful global campaigns and endorsements from prominent entities like Forbes, Cointelegraph, and Bloomberg. Ambitious future projects were outlined, such as a Peer-to-Peer Engine, Metamask Integration, Block plus DAG Algorithm, and EVM Compatibility, with plans aiming for $5M in daily profits leading up to a much-anticipated mainnet launch.

Following the keynote, BlockDAG’s website experienced a massive surge in traffic, leading to an 1120% price increase. Over 11.4 billion coins were sold, and $49.5 million was raised in funding. The introduction of the X1 beta app for Android and Apple has further boosted its appeal, facilitating easy cryptocurrency mining via smartphones. Experts forecast that BDAG’s price could climb to $1 in 2024 from its current presale price of $0.0122, making it an enticing investment choice.

Key Takeaway

BlockDAG’s forward-thinking advancements and strategic implementations distinguish it as a standout investment in the dynamic cryptocurrency market. While Polygon seeks to achieve a market breakout and Litecoin deals with volatility, BlockDAG’s successful presale and ambitious roadmap underscore its superior potential. For investors aiming for significant returns, BlockDAG presents an opportunity to lead the market with scalable solutions and groundbreaking technology.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

The World Bank’s Postulation on How To Tame Inflation in Nigeria

By
Ndubuisi Ekekwe
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0

The World Bank has joined the postulation that Nigeria’s central bank is wasting time by thinking that it could tame inflation through an interest rate hike: “The World Bank has cast doubt on the Central Bank of Nigeria’s (CBN) recent monetary policy measures, suggesting that they may not effectively curb inflation as anticipated by analysts..Despite an aggressive increase in interest rates by a combined 750 basis points since the beginning of the year, inflation remains a persistent issue…”

I have been shouting and the World Bank’s observation mirrors my point; I wrote last year: “I call on the apex bank to also do something new: instead of raising rates to lower inflation in Nigeria, lower interest rates to boost production and supply. I guarantee you that if you lower interest rates in Nigeria, you will improve the Supply side in the market, and if that happens, inflation will drop. Our inflation is driven by low supply, and when we raise rates, we reduce supply [higher productive cost depresses supply] even though the policy has no impact on Demand since our consumer lending is largely nonexistent.

“If you cannot try it across Nigeria, use Ovim, and you will see how inflation will drop in Oriendu Market, Ovim, Abia State.”

Good People, rate hike works in America/Europe where there is a developed consumer credit system. In Nigeria, we use “cash”, and rate hikes have limited impacts on demand (consumer spending). What rate hikes do in Nigeria is to increase cost of production (via higher interest rates on bank loans) which ends up reducing Supply of goods, with the unfortunate impact of pushing inflation higher.

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