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Pan African Technology Company CSquared Raises $25m Equity to Drive Its Expansion Across Africa

By
Ojukwu Emmanuel
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0

CSquared, a Pan-African technology company making commercially driven investments into broadband-enabling infrastructure throughout Africa, has raised $25 million in new equity funding.

The new funding was raised from Convergence Partners Digital Infrastructure Fund (CPDIF) International Finance Corporation (IFC), and the International Development Association (IDA). The company also announced that Google has exited its CSquared stakes which has simultaneously been acquired by the CPDIF.

The recent investment into the company will be used for network expansion as CSquared continues to drive digital infrastructure developments across its footprint and the broader African region.

Speaking on the funding, CSquared Group Chief Executive Officer, Lanre Kolade, said that he remains enthusiastic about the company’s future and its role in directly tackling the continent’s digital transformation challenges.

In his words,

“CSquared has demonstrated a proven track record in developing and commercializing carrier-neutral, open-access networks across Africa. We remain singularly focused on changing lives through the digitization of the region and providing InternetForAll”.

He added that the funding from investors will spur the company to deliver on its ambition to expand its digital broadband infrastructure footprint in all of its current markets which include Kenya, Liberia, Uganda, Ghana, DRC, and Togo, as well as expand into new markets in the future.

Also speaking on the funding, the chairman and founding partner of Convergence Partners, Andile Ngcaba said,

“The opportunity to increase our investment in Squared via our most recently raised fund comes at a pivotal time for African digital development. The benefits of world-class connectivity span all layers of society and have never been more tangible.

“As investors in the Company since 2017 we have had a front-row view of the tremendous impact of open-access networks on the development of the African ICT ecosystem. The combination of developmental impact, as well as strong commercial returns, makes this an attractive investment for CPDIF, and we are delighted to be able to shape the next phase of this journey”.

CSquared was launched as a project within Google in 2011 to build metropolitan fiber optic networks in Sub-Saharan Africa as a carrier-neutral operator of shared infrastructure. The company is making commercially driven investments into broadband-enabling infrastructure throughout Africa.

CSquared enables MNOs and ISPs to provide high-quality broadband at lower costs through shared infrastructure such as metro fiber and Wi-Fi networks. The company’s shared infrastructure model means it works alongside its partners, building networks they can leverage to provide better services to end-users.

The pan-African company disclosed that it has observed how connecting metros in Africa to existing long-distance fiber lines has helped to provide these cities with a foundation for growth and help more people get online, noting that it is excited to accelerate this growth in the rest of Africa.

Since its customers demand for more intensive bandwidth, CSquared seeks to offer matured fiber networks to enable the revolution of consumer needs with the deployment of various access points e.g. FTTT, FTTB, FTTH e.t.c

Notably, it has over 50 Customers using its infrastructure: MNOs, ISPs, and 4G/LTE operators, and  2700+ Customer sites connected on its fiber: base stations, enterprises, SMEs, homes, etc.

YouTube Requires Creators to Disclose if Content is AI generated, or Face Removal from Earning Revenue

By
Paul Ugbede Godwin
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0
A picture shows a You Tube logo on December 4, 2012 during LeWeb Paris 2012 in Saint-Denis near Paris. Le Web is Europe's largest tech conference, bringing together the entrepreneurs, leaders and influencers who shape the future of the internet. AFP PHOTO ERIC PIERMONT (Photo credit should read ERIC PIERMONT/AFP/Getty Images)

YouTube has announced a new policy that will affect creators who use artificial intelligence (AI) to generate content for their videos. According to the policy, creators must disclose in the video description if any part of their content is AI generated, such as voice, face, or text. Failure to do so may result in the removal of the video or suspension from earning revenue.

The policy aims to prevent misinformation, deception, and manipulation that may arise from the use of AI technologies, especially deepfakes, which are realistic but fake videos created by swapping faces or altering voices. YouTube says that it respects the creative and innovative potential of AI, but also wants to protect its users and community from harmful or misleading content.

The policy will apply to all videos uploaded after November 30, 2023. Creators who have existing videos that use AI must update their descriptions by December 31, 2023, or risk losing their monetization privileges. YouTube will also provide tools and resources to help creators identify and disclose AI-generated content, as well as educate them on the ethical and legal implications of using such technologies.

How will YouTube know content is AI generated?

Artificial intelligence is becoming more and more prevalent in various domains, including content creation. AI can generate text, images, videos, music, and more, with varying degrees of quality and originality. Some of these outputs are indistinguishable from human-made ones, while others are easily recognizable as synthetic.

YouTube, as one of the largest platforms for content sharing and consumption, faces a challenge in dealing with AI-generated content. How will YouTube know if a video is created by a human or an AI? And why does it matter?

There are several reasons why YouTube might want to identify and label AI-generated content. One is to protect the intellectual property rights of the original creators, who might not want their work to be copied or modified by AI without their consent. Another is to prevent the spread of misinformation or harmful content that might be generated by malicious actors using AI. A third is to maintain the trust and authenticity of the YouTube community, which values human creativity and expression.

YouTube has not yet announced any official policy or guidelines for AI-generated content, but it is likely that they are working on developing some. One possible way that YouTube could detect AI-generated content is by using AI itself.

YouTube could employ machine learning models that are trained to recognize the patterns and features of synthetic content, such as unnatural transitions, artifacts, inconsistencies, or anomalies. These models could then flag or label the videos that are suspected to be AI-generated and alert the human reviewers for further verification.

Another possible way that YouTube could detect AI-generated content is by relying on the users themselves. YouTube could encourage the users to report or flag any videos that they think are AI-generated and provide them with some criteria or indicators to look for.

YouTube could also ask the users to provide some evidence or proof of their own identity and authorship when they upload a video, such as a selfie, a voice recording, or a watermark. This could help YouTube verify the source and legitimacy of the content.

AI-generated content is not inherently bad or good, but it poses some challenges and opportunities for YouTube and its users. YouTube will need to balance the benefits and risks of allowing or restricting AI-generated content on its platform and ensure that it respects the rights and interests of all parties involved. As AI becomes more advanced and accessible, YouTube will also need to adapt and evolve its policies and practices accordingly.

YouTube’s new policy is part of its broader efforts to combat misinformation and promote transparency on its platform. The company has previously implemented policies to label and remove videos that contain false or misleading information about topics such as elections, vaccines, or COVID-19. It has also partnered with fact-checkers and experts to provide authoritative sources and context for users.

YouTube hopes that its new policy will encourage creators to be more responsible and honest about their use of AI, and also foster a more informed and engaged audience. The company says that it will continue to monitor the development and impact of AI technologies, and update its policies as needed.

A Legend Called: Thank You PGD for Raising A Professional Generation

By
Ndubuisi Ekekwe
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0

A phone rang, and I picked it. And from the other side, an unmistakable voice said, ‘Prof Ekekwe, I am PGD, your colleague in Diamond Bank”. I jumped and shouted “Ifeoma [my wife], come over here because a Legend is on the line”.

Yes, today, the banking legend, Pascal Dozie, Founder of Diamond Bank, called one of the young men he inspired.

I was to be hired for the Owerri branch of the bank, but during the final level interview, the leadership decided to post me to the headquarters. And in just three years, I experienced transformation, turning a village boy-FUTO-educated engineer into a top-grade professional. While in the bank, they paid for my two master’s degrees and a correspondence doctoral degree in banking and finance .

As we spoke, I thanked our Chairman for his grace, kindness and generosity, reciting Diamond Bank’s mission and vision statements which I memorized while in the training school. Great leaders inspire generations and PGD through Diamond Bank served Africa.

He remembers things. Many years ago, on a January morning, I came to Diamond Bank to drop my resignation letter; I was to fly into New York that day. That morning, Diamond Bank paid my upfront, a big chunk of my yearly salary. I quickly updated that letter, and asked the bank to reverse the entry as I was leaving the country and would not be around to earn the money. To cut the story short, Chairman later approved for me to keep the money, covering it for the Bank. The bank contacted me since my salary account had been closed and paid me! I documented this here.

Chairman, thank you: “May the Lord continue to bless PGD and the professional generation he raised.” Sure, you used “colleagues” and I added as we spoke “a lower colleague to power 10”. Thank you for finding time to check and the wisdom you shared today.

My Response: I was 100% within policy. Then, either you put a notice or you pay for the time of the expected notice. But if you have an unused vacation, you can use the same to settle. But since my study leave was not approved, my boss, Roly, was aware and it was all planned. Yet, I had to put the paper. Well within policy.

I was 100% within policy. Then, either you put a notice or you pay for the time of the expected notice. But if you have un-unsed vacation, you can use same to settle. But since my study leave was not approved, my boss, Roly, was aware and it was all planned. Yet, I had to put the paper. Well within policy.

My First Day in America and Kindness of Diamond Bank Lagos

THE BIG VOTE – SHAPE THE FUTURE OF SINO AMAZON DESIGN.

By
John Mc Keown
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0

A simple task for Saturday, through to Sunday…

9ja Cosmos is now ‘pairing’ the Sinosignia/Sino Amazon collection.

Each product contains two parts – The Sino Amazon – A piece of artwork depicting a member of warrior sisterhood that roamed the Asian seas between 1100 and 1700 AD.

The Sinosignia – a character which represents a Sino Amazons oath and bond. It is minted as a Handshake Web 3 Top Level Domain.

As Niami.io describes Handshake Top Level Domains: (the domains are) secured by Handshake (Blockchain), a root namespace for a decentralized web. Handshake TLDs are open for anyone to register, transparent for anyone to audit, and extensible for uses from domain names to wallet names to usernames.

The ‘pairing’ just means assigning the two parts of a product to each other, and moving forward, they will be indivisible.

So what we are doing is having a bit of fun, and canvassing for participants to select their 5 best Sinos from a list of 12 and rank them!

We just want to get an idea on how different people react to different types of product images!

(1)  Sino Amazon 0021 sinosignia code xn--0c6c

(2)  Sino Amazon 0023 sinosignia code xn--0f1l

(3)  Sino Amazon 0027 sinosignia code xn--0h2k

(4)  Sino Amazon 0040 sinosignia code xn--0r0j

(5)  Sino Amazon 0083 sinosignia code xn--1c6c

(6)  Sino Amazon 0078 sinosignia code xn--020k

(7)  Sino Amazon 0079 sinosignia code xn--008k

(8)  Sino Amazon 0066 sinosignia code xn--030k

(9)  Sino Amazon 0081 sinosignia code xn--9n3k

(10)  Sino Amazon 0088 sinosignia code xn--1m1l

(11)  Sino Amazon 0099 sinosignia code xn--1r2j

(12)  Sino Amazon 0080 sinosignia code xn--bn6k

You can list your top 5 in the comment section, or if you wish, you can participate on the LinkedIn post HERE

Much appreciated.

9ja Cosmos is here… 

Get your .9jacom and .9javerse Web 3 domains  for $2 at:

.9jacom Domains

.9javerse Domains

Visit 9ja Cosmos

Follow us on LinkedIn HERE

Singapore Starts live Wholesale CBDC Trials, Binance to launch new Crypto Exchange in Thailand as Binance Labs Make Investment in Arkham Intelligence

By
Paul Ugbede Godwin
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0

The Monetary Authority of Singapore (MAS), the central bank and financial regulator of the city-state, has announced that it will launch a series of live trials for its wholesale central bank digital currency (CBDC) project. The trials, which will involve more than 40 financial institutions and technology partners, aim to test the feasibility and performance of using a blockchain-based CBDC for interbank payments and settlements.

The wholesale CBDC project, also known as Project Ubin, has been in development since 2016, when MAS partnered with R3, a consortium of banks and technology firms, to explore the use of distributed ledger technology (DLT) for clearing and settlement of payments and securities. Since then, MAS has completed five phases of experimentation, covering aspects such as tokenization, delivery versus payment, cross-border payments, and integration with other platforms.

According to MAS, the live trials will mark the final stage of Project Ubin, before it transitions to a commercial product. The trials will involve simulating real-world scenarios and stress-testing the system’s resilience, scalability, security, and interoperability. The trials will also seek to demonstrate the benefits of using a wholesale CBDC, such as reducing costs, risks, and inefficiencies, as well as enhancing transparency, traceability, and compliance.

MAS expects the live trials to run until the first quarter of 2024, after which it will publish a report on the findings and recommendations. MAS also plans to share its learnings and best practices with other central banks and regulators who are interested in pursuing similar initiatives.

Singapore announces global tokenization initiative in partnership with BNY Mellon, DBS JPMorgan and MUFG

The initiative, called the Global Tokenization Hub, is a collaboration between the Monetary Authority of Singapore (MAS), the country’s central bank and financial regulator, and four major global banks: BNY Mellon, DBS, JPMorgan and MUFG.

The Global Tokenization Hub aims to provide a platform for industry participants to explore and develop innovative solutions for tokenizing different types of assets, such as equities, bonds, commodities, real estate and art. The hub will also facilitate cross-border transactions and interoperability among different token platforms and standards.

According to MAS, the initiative is aligned with its vision of building a smart financial center that leverages digital technologies to enhance efficiency, inclusivity and resilience. The hub will also support Singapore’s efforts to become a leading global center for digital finance and green finance.

The four partner banks will contribute their expertise and resources to the hub, as well as engage with other stakeholders such as regulators, issuers, investors, service providers and technology firms. The hub will also leverage the existing blockchain and fintech ecosystems in Singapore, which have been nurtured by MAS through various initiatives such as Project Ubin, a multi-year experiment on the use of distributed ledger technology for clearing and settlement of payments and securities.

The Global Tokenization Hub is expected to launch in the first quarter of 2024, with a pilot phase involving selected use cases and participants. The hub will then scale up its activities and scope over time, with the aim of becoming a global reference point for tokenization best practices and standards.

Ravi Menon, Managing Director of MAS, said: “Tokenization has the potential to unlock new sources of capital, create new investment opportunities and lower transaction costs for both issuers and investors. The Global Tokenization Hub will bring together key players in the tokenization space to co-create solutions that will benefit the global financial industry. We are delighted to partner with BNY Mellon, DBS, JPMorgan and MUFG in this exciting endeavor.”

Roman Regelman, CEO of Asset Servicing and Head of Digital at BNY Mellon, said: “BNY Mellon is committed to driving innovation and supporting the development of the digital asset ecosystem. As a global leader in asset servicing, we are well-positioned to help our clients navigate the evolving tokenization landscape and tap into new opportunities. We are proud to be part of the Global Tokenization Hub and look forward to collaborating with MAS and our fellow partner banks.”

Piyush Gupta, CEO of DBS, said: “DBS has been at the forefront of digital transformation and innovation in banking. We have been actively exploring the use of tokenization to create new value propositions for our clients across various asset classes and markets. We are pleased to join forces with MAS and our partner banks in the Global Tokenization Hub, which will further enhance Singapore’s position as a leading digital finance hub in Asia and beyond.”

Umar Farooq, CEO of Onyx by JPMorgan, said: “JPMorgan has been investing in blockchain and tokenization for several years, as we believe they can bring significant benefits to both our clients and the broader financial system. We are excited to be part of the Global Tokenization Hub and work with MAS and our partner banks to foster innovation and adoption of tokenization in Singapore and globally.”

Kanetsugu Mike, President & CEO of MUFG Bank Ltd., said: “MUFG has been actively pursuing digital transformation initiatives to provide better solutions for our customers. We see great potential in tokenization to enhance efficiency, transparency and security in various financial transactions. We are honored to be part of the Global Tokenization Hub and collaborate with MAS and our partner banks to advance the tokenization agenda.”

Binance to launch new Crypto Exchange in Thailand as Binance Labs Make strategic Investment on Arkham Intelligence

Binance, the world’s largest cryptocurrency exchange by trading volume, has announced that it will launch a new platform in Thailand in partnership with CP Group, the conglomerate owned by the country’s second richest man, Chearavanont family.

The new exchange, dubbed Binance Thailand, will offer trading and investment services for Bitcoin and other digital assets, as well as fiat-to-crypto and crypto-to-crypto conversions. Binance Thailand will also leverage CP Group’s extensive network of businesses and customers to promote the adoption of blockchain technology and cryptocurrencies in the Southeast Asian nation.

Binance CEO Changpeng Zhao said that the collaboration with CP Group is a strategic move to expand Binance’s global presence and reach new markets. “Thailand is a key market for us, with a vibrant and growing crypto community and a supportive regulatory environment. We are excited to partner with CP Group, one of the most respected and influential companies in Thailand, to bring our innovative products and services to millions of Thai users,” he said.

CP Group Chairman Suphachai Chearavanont said that the partnership with Binance is part of the group’s vision to embrace digital transformation and innovation. “We believe that blockchain and cryptocurrencies have the potential to create new opportunities and value for our businesses and customers, as well as contribute to the social and economic development of Thailand. We are delighted to join forces with Binance, the global leader in this field, to launch Binance Thailand and make it the leading crypto exchange in the country,” he said.

Binance Thailand is expected to launch in the first quarter of 2024, subject to regulatory approval from the Securities and Exchange Commission of Thailand (SEC). The SEC has been proactive in regulating the crypto sector, issuing licenses for digital asset businesses and setting rules for initial coin offerings (ICOs) and security token offerings (STOs).

Binance Thailand will join Binance’s growing network of local platforms, which include Binance US, Binance Singapore, Binance Uganda, Binance Jersey, Binance Korea, and Binance Australia. Binance also operates a decentralized exchange (DEX) and a peer-to-peer (P2P) trading platform that support multiple fiat currencies.

Binance Labs have invested in $ARKM, the native token of Arkham Intel

Binance Labs, the venture arm of the leading cryptocurrency exchange Binance, has announced a strategic investment in Arkham Intel, a blockchain-based intelligence platform that aims to provide actionable insights for crypto investors and traders.

Arkham Intel leverages advanced data analytics, machine learning, and natural language processing to generate market signals, sentiment analysis, and trend detection for various crypto assets. The platform also offers a native token, $ARKM, that can be used to access premium features and services.

According to a press release, Binance Labs participated in Arkham Intel’s seed round, along with other prominent investors such as Alameda Research, CMS Holdings, CoinFund, Divergence Ventures, and Spartan Group. The amount of the investment was not disclosed.

Binance Labs said that it was impressed by Arkham Intel’s vision and team, which consists of experienced professionals from the fields of finance, technology, and cybersecurity. Binance Labs also expressed its confidence in Arkham Intel’s ability to deliver high-quality data and insights to the crypto community.

“We are thrilled to support Arkham Intel as they build a cutting-edge intelligence platform for the crypto space. We believe that data-driven decision making is crucial for the growth and maturity of the crypto industry, and we are excited to see how Arkham Intel will empower crypto investors and traders with actionable insights,” said Wei Zhou, Head of Binance Labs.

Arkham Intel’s co-founder and CEO said that the investment from Binance Labs was a validation of their vision and product. He also said that the partnership would enable them to leverage Binance’s ecosystem and network to reach a wider audience and provide more value to the crypto community.

“We are honored to have Binance Labs as our strategic partner and investor. Binance is not only the leading crypto exchange in the world, but also a pioneer and innovator in the crypto space. With their support and guidance, we are confident that we can achieve our mission of providing the best intelligence platform for the crypto space”.

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