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BlockDAG’s $14.6M Funding, 30,000x Growth Forecast Shine Beside ApeCoin’s Shift and Filecoin’s Rise

By
TI Partners
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0

Several key developments are reshaping the landscape of crypto: Filecoin’s impressive market performance, ApeCoin’s introduction of cutting-edge AR technologies, and BlockDAG‘s sustainable, eco-friendly model, signaling a monumental leap with a 30,000-fold growth prospect.

These advancements mark a significant phase in the evolution of digital currencies, showcasing how varied approaches across platforms can enhance their value. This includes driving sustainability and increasing investor involvement. BlockDAG’s focus on environmental sustainability establishes a new benchmark for energy efficiency within blockchain technologies.

Filecoin’s Value Witnesses a Notable 8% Increase Within a Week

Recent figures show Filecoin’s value experiencing a substantial 8.16% rise in the last 24 hours, reaching $9.41, contributing to an overall weekly increase of more than 8%. This growth trend in Filecoin’s value is particularly significant, given its historical peak of $236.84.

Despite a 25% decrease in trade volume, Filecoin demonstrates remarkable resilience with a minor 0.54% drop in its circulating supply to approximately 527.43 million, representing 26.9% of its total supply cap. With a market capitalization of $4.96 billion, Filecoin’s performance remains strong, ranking it 27th among cryptocurrencies. This analysis highlights the dynamic and fluctuating nature of Filecoin’s market value, drawing interest from both investors and traders.

ApeCoin’s Ecosystem Transforms with Augmented Reality Innovations

ApeCoin’s ecosystem is set for a transformative change with a proposal to integrate augmented reality (AR) into its NFT and metaverse activities. Led by artist duo Attila ‘Mutant#33’ and Clark, this initiative seeks to enrich the ApeCoin platform with the M33 App, aiming to integrate AR experiences within digital assets seamlessly.

Offering early access and discounts to ApeCoin holders, in exchange for 200,000 APE tokens for 2% company ownership, this initiative marks a significant move towards interactive digital experiences. With an allocated budget of $400,000 in APE tokens for the development of essential AR functionalities, this addition could greatly enhance the attractiveness and utility of the ApeCoin ecosystem, setting a significant milestone in merging NFTs with AR technology for engaging user experiences.

BlockDAG’s $15.3M Presale and the Vision for 30,000-Fold Market Expansion

BlockDAG has made a name for itself in the crypto industry with its bold aim to transform the digital economy and its pioneering commitment to environmental sustainability. Having raised $15.3 million in its presale, the project is viewed as a strong contender against Kaspa, highlighting its potential for a 30,000-fold growth. At the heart of BlockDAG’s strategy for sustainability is an efficient consensus mechanism, distinguishing it from the high-energy Proof of Work (PoW) protocols.

This strategic approach greatly reduces the energy consumption of blockchain operations, embodying BlockDAG’s commitment to reducing the ecological impact of digital transactions. By prioritizing energy saving and adopting green practices among its community and partners, BlockDAG demonstrates its potential for a 30,000-fold growth and positions itself as a frontrunner in promoting environmental sustainability in the blockchain sector.

Compared to efforts by ApeCoin and Filecoin, BlockDAG’s dedicated focus on environmental responsibility underscores its distinctive contribution to advancing eco-consciousness in cryptocurrency.

Conclusive Insights

BlockDAG’s unwavering dedication to environmental sustainability, coupled with the success of its $15.3 million presale, establishes it as a pivotal force in the move towards more environmentally friendly blockchain technologies.

When considering the innovations in Filecoin’s market dynamics, ApeCoin’s AR integration, and BlockDAG’s leading eco-friendly approach, it’s clear that BlockDAG emerges as the superior choice for investors committed to eco-conscious cryptocurrency potential, with a vision for a 30,000-fold growth.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

The Unalloyed Right and Opportunity to be Heard

By
Stanley Alieke
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0

“A hearing can only be fair when all parties to the dispute are given a hearing or an opportunity of hearing. If any party is refused a hearing or denied the opportunity to be heard, the hearing cannot qualify as fair hearing”- Supreme Court Justice Obaseki in the case of Otapo v Sunmonu

The right to a fair hearing is one of the most important fundamental human rights available to any person. It can be argued to be the most important fundamental human right recognizable in most jurisdictions of the world. 

It is basically the right of any/every party in a suit or litigation to be accorded the right and opportunity to be heard and to have the opportunity to respond to every allegation made against him. This right mandates the court to be unbiased and independent and to just act as an umpire in the litigation. This right to fair hearing also extends to the right of an individual to be given a lawyer (free of charge or at the cost of the state), if the individual cannot afford a lawyer, so that the individual will properly be heard in court, especially in a criminal matter. 

This right is provided for in S. 36 of the constitution of the federal republic of Nigeria, 1999 (as amended). 

It is recognized in the amendment rights of the United States of America and it is The Sixth Amendment right. It is also provided for and fully recognized in the United Nations Declaration on Human and People’s Rights, hence provided for in Article 10 and also provided for in Article 7 of the African Charter. 

These laws (both national, regional and worldwide) are all saying one thing; that every human should have an unalloyed right (to speak) & be heard at any point in time. 

Once your right to speak and to be heard is denied you as a person, you are good as nothing. 

This right is so important that if a person can prove that he was denied the right to speak and be heard in the lower court before judgment was given, such judgment will be annulled and voided in its entirety. But if you slept on this right and failed to exercise it when it was accorded to you and judgment was given, you will not be permitted to appeal for the reversal of the judgment just because you by your own will failed to exercise this right and the judgment given was not in your favor. 

Even in everyday life occurrences, you should always exercise your fundamental human right to speak and say your bit, especially when it comes to defending yourself even if what you said is regarded as nonsense or doesn’t make any sense.

The Domino Effect: How Rising Oil Prices Strain Nigeria’s Fuel Supply Chain

By
Samuel Nwite
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0

The recent uptick in global oil prices, fueled by geopolitical tensions in the Middle East, has sent ripples across Nigeria’s fuel supply chain, exacerbating an already precarious situation.

As Brent crude futures soared to $90.78 per barrel and U.S. West Texas Intermediate (WTI) crude climbed to $86.78, concerns about the stability of Nigeria’s fuel market intensified.

Ceasefire negotiations between Israel and Hamas, which briefly offered hope for a reduction in geopolitical tensions and a subsequent drop in oil prices, failed to materialize into a significant decline. Instead, prices remained elevated, ameliorating concerns in oil-importing nations like Nigeria.

The Effect of Rising Oil Prices on Subsidy Payments

The Nigerian National Petroleum Company Limited (NNPCL) finds itself grappling with mounting debts owed to oil traders, amounting to a staggering $3 billion for imported petrol, according to a report by Reuters. Despite efforts to gradually settle these payments, the pace remains sluggish, casting a shadow over the country’s ability to secure vital fuel imports.

“The slow pace of payments points to the slow comeback of fuel subsidies, discontinued in May 2023, depleting the NNPC’s budget for imports,” remarked industry insiders. Compounding the issue are escalating global gasoline prices and a weakening naira, further straining the NNPC’s import capabilities.

The Nigerian government is reportedly paying N17 billion daily on fuel subsidies but has stopped recently due to financial constraints, resulting in fuel queues resurfacing across the country. The situation is raising concern that the situation could escalate in the coming weeks if outstanding subsidy payments are not promptly paid.

With crude oil prices nearing the $90 mark, the cost of importing petrol into Nigeria has surged, putting immense pressure on the already burdened NNPCL. Despite this, the NNPCL has staunchly denied the existence of subsidies on imported petrol, attributing the rising costs to the recovery of full importation expenses.

“The oil firm is only recovering the full cost from the products that they import,” affirmed Mele Kyari, the Group Chief Executive Officer of NNPC Limited. However, market dynamics tell a different story, with petrol prices skyrocketing in West Africa, far surpassing the government’s price cap.

The Emergence of Dangote Refinery as a Game Changer

Amidst the turmoil in Nigeria’s fuel sector, the emergence of the Dangote Refinery offers a glimmer of hope. With the capacity to process 650,000 barrels per day, it is expected to revolutionize the country’s refining industry and reduce its dependence on imported petroleum products.

“Dangote Refinery has commenced supplying the domestic market with diesel and aviation jet fuel, marking a significant milestone in Nigeria’s quest for self-sufficiency,” remarked Abubakar Maigandi, head of the Independent Petroleum Marketers Association of Nigeria.

However, the transition towards reliance on domestically refined products is not without its challenges. As discussions between local oil marketers and Dangote Refinery continue, questions linger regarding pricing, margins, and logistical considerations.

Garima said IPMAN has reached out to Dangote Refinery with a proposal to fix the fuel price at N550 per liter, alleviating the impact of rising global oil prices.

“We have proposed that the lifting price should be N550 per litre in Lagos,” revealed Garima. “We expect that the price of locally refined petrol would be cheaper than imported petrol, due mainly to local availability of crude oil and removal of transportation costs.”

The Looming Threat of Fuel Scarcity

Despite the optimism surrounding Dangote Refinery’s potential to alleviate Nigeria’s fuel woes, the reality remains stark. With subsidy payments pending and global oil prices on an upward trajectory, the specter of widespread fuel scarcity looms large.

The completion of the rehabilitation of the Port Harcourt Refinery, situated in Rivers State, Nigeria, brings hope for more affordable oil products and is expected to contribute to meeting the country’s domestic demand for petroleum products. Nevertheless, recent obstacles, notably the shortage of crude oil supply, have severely hindered production at the refinery. This mirrors a comparable issue that has compelled the Dangote Refinery to seek crude oil supplies beyond Nigeria’s borders.

Stakeholders believe that if decisive action is not taken swiftly to address the underlying issues plaguing Nigeria’s fuel supply chain, the consequences could be dire. They said the government must prioritize effective policy measures and collaborative efforts with industry stakeholders to avert an impending crisis.

The Igbo Apprenticeship System on Display: A Review of “Áfàméfùnà” an Nwa-Boi Story

By
Ojukwu Emmanuel
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0

The movie “Áfàméfùnà” which was directed by Kayode Kasum, beautifully showcased the age-long Igbo Apprenticeship system, a successful business model believed to produce young millionaires yearly.

Áfàméfùnà depicted the intricacies of the apprenticeship system, unveiling the cultural heritage, Ambition, Loyalty, Betrayal, and Sacrifice inherent in the system.

Also, against the backdrop of the Nigerian Civil War in 1967, the movie underlines the crucial role played by the Igbo apprenticeship system in revitalizing the fortunes of the Igbo tribe, having lost everything during the war.

The movie opened with a short note by Harvard Business Review acknowledging the Igbo apprenticeship system as a form of stakeholder capitalism, which read,

“The Igbos in Africa have been practicing for centuries what is today known as stakeholder capitalism. The Igbo apprenticeship system (IAS) has been recognized as the largest business incubator in the world as thousands of ventures are developed and established yearly through it. For the Igbos and some Africans, it is a working system which has brought equality and peaceful coexistence in communities”.

Diving into the movie, the storyline begins with a young boy named Afam, brought to the city by his boss (Odogwu), to undergo training in business. As part of the apprenticeship practice, Afam first receives orientation about the business, as well as rules (do’s & don’t) from his boss, and is taught the ropes of the business by experienced salesboys.

Over time, Afam grew familiar with the business operations and in turn, passed on his knowledge to salesboys brought in afterward, guiding them through the intricacies of the trade. A common practice within the apprenticeship system that involves experienced salesboys passing on the business knowledge to new recruits, thereby ensuring the continuity and preservation of the model.

Despite the strength of the apprenticeship system, the film also acknowledged challenges that plagues the system such as dishonesty and greed among apprentices whose mischievous acts often frustrate the businesses of their masters, illustrated by Paulo’s selfish acts of inflating prices of goods for personal gain, described as “Apriko.”

As with the apprenticeship system, some salesboys earn their masters’ admiration due to their loyalty, diligence and exceptional business skills. The movie illustrates this scenario by depicting Afam being granted freedom ahead of Paul, despite the latter’s longer tenure in the business.

In summary, the movie transcends beyond entertainment, offering a profound exploration of the Igbo apprenticeship system. It showcased the Igbo spirit of resilience, resourcefulness, and economic empowerment, highlighting the values of brotherhood and hard work.

Notably, the Igbo apprenticeship system is often described as the “unofficial business school” and is regarded as the largest business incubator in the world as thousands of business ventures are established each year through this system.

As Nigeria and several nations across the globe grapple with extreme poverty and social inequality, there are calls to review and potentially adapt the Igbo apprenticeship model to address these challenges.

The Lesson from Zenith Bank’s N677 billion PAT for Builders

By
Ndubuisi Ekekwe
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0

This is a big response. The Central Bank of Nigeria wants banks to have a paid-up capital of N500 billion. But here, one bank made a profit after tax of N677 billion in one year.

Good People, there is something fundamentally intriguing about Nigeria. Yes, it is so wide apart that you may not know you are in the same country. The country of Zenith Bank which closed on N677 billion and one of  Unity Bank which declared billions in losses.

I read one book – Acres of Diamonds – and I realized that the diamonds I am looking for may be right before me. Yes, we often dream of fortunes to be made elsewhere even though opportunities may be around the corner. I am not here to debate and against bank profits (I have written about them in the past), I am here to tell everyone that promises remain for the future.

May Zenith Bank’s alpha give you energy to keep pushing…

Zenith Bank Declares N676.91bn Profit After Tax (PAT) for FY 2023, GTBank’s GTCO N539.655bn

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