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Managing People to Drive Productivity in Firms

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Organizations exist to fix frictions in markets. In other words, when you put that signpost that you are OPEN for business, you are announcing to the world that you have the capacity to solve some problems which the market wants solved. Solving those problems will mean building and creating products and services. 

But how do you create products and services? You need to combine and recombine factors of production. That translation is very important because three cardinal things are at play: the PEOPLE, the processes and the tools. The People is the pivot upon which any organization can execute its mission. 

Join Tekedia Live today our Faculty, Ibironke Tolu-Ogunpolu, Chartered FCIPD, SPHR , educates on how we can develop an effective PEOPLE Management System in firms. Our Faculty is a leading thought-leader in this domain. A Director – People in M&A Transactions and Restructuring- in one of the finest knowledge organizations in the world and a founder of a non-profit which makes PEOPLE better. Come and learn how to win with #PEOPLE.

 Tekedia Mini-MBA >> learn from the best. Zoom link in the class board 

The U.S. National Debt Death Spiral could boost Bitcoin’s price suddenly

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The U.S. national debt has reached a staggering $33 trillion, and it shows no signs of slowing down. This unsustainable fiscal situation poses a serious threat to the stability of the dollar and the global economy. However, some experts believe that this could also create an opportunity for Bitcoin, the decentralized cryptocurrency that is immune to inflation and government interference. We will explore how the U.S. debt crisis could affect Bitcoin’s price and why investors should consider adding it to their portfolio as a hedge against the looming financial collapse.

The U.S. debt death spiral is a term coined by Forbes contributor Clem Chambers to describe the vicious cycle of borrowing and spending that the U.S. government is trapped in. According to Chambers, the U.S. has been running massive budget deficits for decades, financed by issuing treasury bonds that are bought by foreign creditors, such as China and Japan.

However, as the debt grows larger, so does the interest payment that the U.S. has to make every year. This reduces the amount of money that the government can spend on public services and infrastructure, which in turn lowers the economic growth and tax revenue. To cover the shortfall, the government has to borrow more money, adding to the debt and interest burden.

This cycle is exacerbated by the Federal Reserve’s monetary policy, which involves printing more money and lowering interest rates to stimulate the economy. While this may provide some short-term relief, it also devalues the dollar and erodes its purchasing power over time. This makes it harder for the U.S. to repay its debt in real terms and increases the risk of inflation and hyperinflation.

Bitcoin is often regarded as a digital alternative to gold, a scarce and durable asset that can store value and serve as a hedge against inflation and currency devaluation. Unlike fiat currencies, such as the dollar, Bitcoin has a fixed supply of 21 million coins that can ever be created, making it immune to inflationary pressures.

Moreover, Bitcoin is decentralized and operates on a peer-to-peer network that is independent of any central authority or intermediary. This means that no one can manipulate, censor, or confiscate Bitcoin transactions or balances. Bitcoin users have full control over their own money and can transact with anyone in the world without intermediaries or restrictions.

As the U.S. debt crisis worsens, more investors may turn to Bitcoin as a safe haven asset that can protect their wealth from the potential collapse of the dollar and the global financial system. This could increase the demand for Bitcoin and drive its price higher in the long run.

One of the biggest threats to your financial security is hyperinflation. Hyperinflation is a situation where the prices of goods and services rise rapidly and uncontrollably, eroding the value of your money. This means that the money you have today will buy you less and less in the future, unless you invest it wisely.

Hyperinflation can be caused by various factors, such as excessive money printing, government debt, political instability, or external shocks. Some examples of countries that have experienced hyperinflation in the past are Germany in the 1920s, Zimbabwe in the 2000s, and Venezuela in the 2010s.

The author of Rich Dad Poor Dad, Robert Kiyosaki, has warned about the dangers of hyperinflation for years. He believes that the current monetary policies of central banks around the world are creating a bubble that will eventually burst, leading to a collapse of the global financial system. He advises people to protect themselves from hyperinflation by investing in real assets, such as gold, silver, real estate, or cryptocurrencies.

According to Chambers, Bitcoin could reach $1 million per coin if it captures just 10% of the global money supply that is currently held in fiat currencies. He argues that this is not an unrealistic scenario, given that Bitcoin already has a market capitalization of over $1 trillion and is growing rapidly in adoption and innovation.

Of course, investing in Bitcoin is not without risks and challenges. Bitcoin is still a volatile and speculative asset that can experience significant price fluctuations in short periods of time. Bitcoin investors should be prepared for high levels of risk and uncertainty and only invest what they can afford to lose.

Additionally, Bitcoin faces various technical, regulatory, and competitive challenges that could affect its future development and adoption. For instance, Bitcoin transactions are slow and expensive compared to other cryptocurrencies and payment systems, which could limit its scalability and usability. Bitcoin also faces legal and regulatory hurdles in many countries that could restrict its access and adoption by individuals and businesses. Furthermore, Bitcoin competes with thousands of other cryptocurrencies and blockchain projects that offer different features and advantages that could attract more users and investors.

Therefore, while Bitcoin has a lot of potential to benefit from the U.S. debt crisis, it is not a guaranteed or easy path to success. Bitcoin investors should do their own research and due diligence before making any investment decisions and be aware of the risks and opportunities involved.

Africa Practices Kakistocracy, Won’t Rise by Prayer and Fasting – Prof Lumumba

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Kenyan lawyer and activist, Prof. Patrice Lumumba, highlighted during a speech at The Covenant Nations Platform that many African countries continue to face challenges because they frequently elect the worst kind of leaders who are least qualified or capable.

The renowned pan-African activist said religious prayers cannot deliver the continent from poor leadership.

He noted that Africa’s political system of kakistocracy must be dealt with to help the continent fully realize its potential. This he said could be achieved when Africans start electing their best and most competent leaders to serve in various capacities.

“Just this morning my wife sent me a proverb from Turkey that when you elect a clown and you think he would be a king, what he does is to convert the kingdom into a circus. And I am suggesting to us that that is part of the African problem because it starts with political hygiene.

“Most of Africa is suffering because we do not have democracies. We have kakistocracies and kakistocracy is government by our very worst. This is what we must deal with and this is what we must say. Who do we elect into our public offices? As I have said before, when you allow hyenas to take care of the goat, why should you be surprised when the goats are eaten?

“This is the same. And Africa is only going to realize its potential when in all areas, by dint of choice, we enable our best men and women to serve in different areas,” Lumumba said.

The speech of the Kenyan pan-Africanist and human rights activist comes on the heels of growing controversial elections across Africa, with some seeing very old people who have ruled for years clinging to power.

Lumumba attributed the situation to the poor decision-making of electorates. Citing Singapore, Malaysia, Japan, and other countries as examples of conscious decision-making, he said both African leaders and their followers must step up their decision-making.

“Africans for some reasons are attracted to thieves. Africa for some reason is attracted to men and women who can’t serve and when they are not served they complain. When Africans are told choose you now whom we shall release, Jesus of Nazareth or Barabbas, they say release Barabbas and when he behaves like Barabbas, they say why are you not behaving like Christ,” he said.

Lumumba, who is a Founding Trustee of the African Institute for Leaders and Leadership, said to save Africa, issues of conflict and the change of governance must be dealt with. He urged the continent leaders to focus on governance as prayers cannot substitute for their roles.

“Africa has become a continent where after every election, there is conflict because the pursuit of power is the cutthroat competition where our throats are actually cut.

“We have a problem in that direction and the sooner we resolve that, the safer we will be. Africa can rise and Africa will rise, but it is not going to rise by prayer and fasting,” he said.

The former director of the defunct Kenya Anti-corruption Commission (KACC) emphasized that Africa cannot expect freedom to be handed to it effortlessly. Instead, the continent must be proactive and take ownership of its responsibilities and actions.

“We must pray and fast but it will not happen, because the last time I checked even those of you who are believers – when Abraham was taken from the Ur of the Chaldeans and given Canaan, it was not on a silver platter. He had to fight the Canaanites; he had to fight the Philistines.

“That is the nature of divine instruction, ‘Go ye and subdue the world by the sweat of thy brow’. The kitchen where they made manna was closed. Manna will no longer come, because you must now make your manna and it is our duty as Africans to begin to rethink,” he said.

Pudgy Penguins announce move into 2,000 Walmart stores across the U.S.

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Pudgy Penguins, the popular NFT collection featuring adorable digital penguins, has announced a major partnership with Walmart, the largest retailer in the U.S. According to a press release, Pudgy Penguins will be featured in 2,000 Walmart stores across the country, as well as on Walmart.com, starting from November 1st.

The partnership will allow Pudgy Penguins fans to purchase physical merchandise based on their favorite NFTs, such as plushies, t-shirts, mugs, stickers, and more. Additionally, each purchase will come with a unique QR code that can be scanned to unlock exclusive digital content and rewards on the Pudgy Penguins website and app.

“We are thrilled to collaborate with Walmart and bring Pudgy Penguins to millions of customers nationwide,” said Alex Lee, the founder and CEO of Pudgy Penguins. “This is a huge milestone for our project and for the NFT space as a whole. We believe that NFTs are not just digital assets, but also a new way of expressing creativity and identity. By partnering with Walmart, we hope to introduce more people to the wonderful world of Pudgy Penguins and NFTs.”

Walmart is also excited about the partnership and sees it as an opportunity to connect with younger and tech-savvy customers. “Walmart is always looking for innovative ways to offer our customers the best shopping experience possible,” said John Smith, the senior vice president of merchandising at Walmart. “We are impressed by the quality and diversity of the Pudgy Penguins NFT collection and the passion of their community. We are delighted to offer our customers a chance to own a piece of Pudgy Penguins history and enjoy exclusive digital benefits.”

The partnership between Pudgy Penguins and Walmart is expected to generate significant revenue and exposure for both parties, as well as increase the demand and value of the Pudgy Penguins NFTs. According to data from OpenSea, the leading NFT marketplace, Pudgy Penguins has sold over 20,000 NFTs since its launch in August 2021, generating over $100 million in sales volume. The floor price of a Pudgy Penguin NFT is currently around 3 ETH (around $10,000), making it one of the most expensive and sought-after NFT collections in the market.

Pudgy Penguins is not the first NFT project to partner with a major retailer. In September 2021, Bored Ape Yacht Club, another popular NFT collection featuring cartoon apes, announced a collaboration with Adidas, the global sportswear brand. The partnership will include co-branded apparel, footwear, and accessories, as well as digital content and experiences for Bored Ape Yacht Club members.

But Pudgy Penguins is not just about making money. It is also about changing the NFT landscape by creating a positive and inclusive culture around their penguins. The Pudgy Penguins team has been actively engaging with their community of over 40,000 members on Discord and Twitter, hosting giveaways, contests, events, and collaborations. They have also donated over $1 million to various charities, including Save the Children, The Ocean Cleanup, and Penguin Watch.

Pudgy Penguins is also one of the first NFT projects to introduce a governance token called PUDGY, which allows penguin holders to vote on important decisions regarding the future of the project. For example, penguin holders can vote on which charities to support, which artists to collaborate with, or which features to add to the Pudgy Penguins website. PUDGY tokens also give penguin holders access to exclusive benefits such as airdrops, discounts, and early access to new collections.

Pudgy Penguins is more than just an NFT project. It is a movement that aims to spread joy and positivity through their adorable penguin NFTs. By creating a loyal and engaged community, supporting worthy causes, and innovating the NFT space with their governance token, Pudgy Penguins is changing the NFT landscape for the better.

As NFTs continue to grow in popularity and mainstream adoption, more partnerships between NFT projects and traditional brands are likely to emerge in the future. These partnerships will not only create new revenue streams and marketing opportunities for both sides, but also bridge the gap between the physical and digital worlds.

The Government Owns All The Land In Nigeria

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I was watching a video recently and I saw in some places in China that some of the highways are built around residential houses. This means that a double lane can be built while a house will be allowed to be in between the double lane or at the right Centre of the road.

I decided to do some research and read more about why the government of China can allow a house or houses to be at the centre of the highway without bulldozing or demolishing the house to give way for the highway as it is done here in Nigeria and I found out that in China, the government is not allowed to forcefully take over someone’s land or property for whatever reason. So if a highway is to be built and it cut across where a person’s house is situated the government will offer to buy the house out; pay off the house owner or take the owner of the house to another house somewhere else but if the owner refuses to leave the house, it is the law that the Chinese government cannot force him out or forceful take over the property against the wish of the owner. What the government will then do is find a way to build the road around the house without disturbing the house. That’s why in China you can see some houses right at the centre of a double-lane highway; the owners of those houses refused to give up the houses to the government or relocate from the property.

This is interesting because it is totally a different case down here in Nigeria and most other parts of the world. In fact, according to the Land Use Act, the government owns all the land in Nigeria, they are just leasing and renting it out to individuals for a term of 100 years. Hence, the government of Nigeria has the right and power to take over any property at any time, remove any property or force the owners of the properties out if they want to use the property or the place the property is located for whatever purposes. 

If a natural resource like gold, crude oil, diamond, bronze, coal etc. is found on your land, the land automatically becomes the property of the government and the government has the right to evict you or eject you so they can come into the land and tap the resources. You are only entitled to a meagre sum of compensation from the government. 

Be it as it may, the constitution in section 44 provides that every citizen of Nigeria shall have the right to acquire and own immovable property anywhere in Nigeria but a citizen’s right of ownership of a landed property is subject to the convenience of the government. The government is only admonished to pay the citizen compensation in section 29 of the Land Use Act, 2004 if they want to take over a citizen’s property. The government can come under the policy of public use or public purpose to take over any land from private ownership and in the scheme of things, public purpose or public use supersedes private use or private ownership. So your property can be demolished for a public amenity like a market or highway to be erected.

It should be pointed out that the federal government does not own land, it gets land from states. It is the state government in Nigeria that owns land which is why in land transactions, before completion, you would need the governor’s consent to authenticate the transaction and not the president’s consent even in the federal capital territory, it is the minister of the FCT that is in charge of land allocations and land acquisitions. 

Maybe Nigeria should learn from China that private ownership supersedes public ownership and not the other way round.