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Home Blog Page 3820

Have You Made Your Will?

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Far from the stereotype surrounding the making of wills; a will is not a death statement or death wish. When someone asks you if you have drafted your will, that person is not wishing you death. 

It is better to make a will thinking you are going to die soon and end up not dying than to die without making a will because we lawyers will always say that it is better to err on the side of caution. 

A retired military general has been dead for the past two years now but the family do not want to bury him yet and let him rest in peace because the man died without making a will i.e., he died intestate. The family members have been dragging themselves to court over who gets what from their late father’s, husband’s brother’s, and uncle’s estate and it is becoming embarrassing.

In fact, one of the reasons why the man is yet to be buried is that the kinfolks of the man are still contesting where to get money or how to contribute to the burial ceremony of the man. Had it been that the man made a will before he died, his will would have contained where and when to be buried and where the money for his burial ceremony is to come from. 

The man from the lists of his property which from the court documents has made it to the public domain enmassed a lot of properties whilst he was alive and the level of property he owned is questionable for a public servant and can only be tagged ill-gotten wealth. The Economic and Financial Crimes Commission (EFCC) and Independent and Corrupt Practices Commission (ICPC) are likely to investigate and seize some of these properties as proceeds of corruption. 

Before I digress, drafting a will is not anticipation of death, it is you putting your house in order and also taking stock of your properties. If you do not do this, your family members will never let you Rest In Peace when you have died.

The reason why you should make your will anytime is that you can always amend it, revoke it or make a supplementary will subsequently. If you want to change a beneficiary or you acquired more property you want to add up, you can always add up more information in the will. This is called codicil. Codicil simply is an addition or supplement that explains, modifies or revokes a will or part of one.

I have seen family members fight to death over the contest of their late father’s or husband’s property; the worst thing you could ever do to your surviving wards is die intestate. No matter how closely knitted the family members are they will definitely fight over your properties. 

Save yourself and save them from such embarrassment and make a will today. 

Winning Your Webinality (webinality = web + personality) In Online Space

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In this digital age, SUPPLY is largely unbounded and distribution channels are unconstrained. As I have noted, winning the modern business online game would be anchored on controlling DEMAND since it would be hopeless to try to control supply. Yes, to have any chance to thrive digitally, you need to have a separation, and be differentiated from all other suppliers.

Separation means you need to be unique and be you. Yes, in the sea of creators and suppliers of contents, you must be distinguishable and be known for something. If you can accomplish that, the world will reward you!

You cannot be the next Linda Ikeji because she owns her own unique digital world. You cannot be Mr. Macaroni because he owns the “you are doing well” world. You cannot be AngieNation because she invented real-time story-telling-entertainment combo. Simply, you need to find yours!

It comes down to your Webinality (webinality = web + personality) and that means WHO YOU ARE in the digital space. The job in Canada while living in Lagos is connected to your webinality. That speaking opportunity in London while you are living in Nairobi comes down to your webinality. Invest in your #webinality because it holds the ace to career ascension these days.

Tesla Will Control The 21st Century’s “Gas” or “Filling” Stations in America

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Electric vehicle charging network is the gas station of the 21st century, and it is here with us. And Tesla is winning the game in America and is poised to become the largest “energy filling station” in America: “Tesla  is installing the roadside chargers faster than others at a sharply lower cost”. So, when you value Tesla, remember that it has the modern types of “filing” or “gas” stations.

What do you call it? Multi-revenue car company. It sells cars. It sells carbon credits. It sells software to drivers. It sells even the fuel to power the car. Did I include Tesla Insurance?

Now you can see why Tesla is worth more than $760 billion when GM and Ford combine for less than $100 billion! The greatest companies in the world pioneer a new basis of competition which is orthogonal to whatever the competition has. Today, Tesla is on its path, and others just follow. Do the same in your business, and find the ascension to category-kingship.

Tesla already has the country’s largest charging network — and it’s now beating rivals in winning federal grants to expand it, according to The Wall Street Journal. Elon Musk’s electric vehicle company has won bids at 18% of the sites identified to build fast chargers, picking up about $8.5 million of the $77 million doled out in federal grants so far. The company is installing the roadside chargers faster than others at a sharply lower cost. It also plans to equip them with adaptors that can work with Teslas or other kinds of cars, allowing it to apply for federal money. Supercharge revenue could total about $885 million next year and $10 billion in ten years, according to Piper Sandler analysts.

Comment on Feed

Comment 1: EV industry is nascent, and I think antitrust laws will definitely catch up with him when the industry matures.

While we covet his rare abilities, market monopoly is unhealthy in the long run.

Elon may not mean evil, but who knows who takes over 100 years later.

My Response: There is no monopoly when others willingly converge on your platform because they gave up as you’re the best. Musk makes better systems at a lower cost model. I do not know how you can accuse him of antitrust violations when even the government is asking others to forget their efforts and move to Musk’s.

China’s Digital Yuan Must be Available in All Retail Scenarios

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In a recent speech, Mu Changchun, the director of the Digital Currency Research Institute of the People’s Bank of China (PBOC), emphasized the importance of making the digital yuan accessible and convenient for all kinds of retail transactions. He said that the digital yuan, also known as e-CNY, should be compatible with various payment scenarios and devices, such as smartphones, smart watches, QR codes, and facial recognition.

The digital yuan has significant implications for the global economy and the international monetary system. As the world’s second-largest economy and the largest trading nation, China has a strong influence on global trade and finance. The digital yuan could enhance China’s economic competitiveness, financial sovereignty, and geopolitical influence. It could also challenge the dominance of the US dollar as the global reserve currency and facilitate the internationalization of the renminbi, China’s official currency.

Mu also outlined the four main features of the digital yuan: controllable anonymity, loose coupling, offline payment, and smart contracts. He explained that controllable anonymity means that the digital yuan protects the privacy of users while complying with anti-money laundering and anti-terrorism financing regulations.

Loose coupling means that the digital yuan does not rely on bank accounts or mobile phone numbers to function. Offline payment means that the digital yuan can be transferred between users without internet connection. Smart contracts mean that the digital yuan can support programmable functions, such as automatic payments and expiration dates.

According to Mu, the PBOC has been conducting pilot tests of the digital yuan in various cities and regions across China, involving more than 140 million personal wallets and 10 million corporate wallets. He said that the pilot tests have covered a wide range of scenarios, such as public transportation, catering, e-commerce, utility bills, and government services. He added that the PBOC will continue to expand the scope and scale of the pilot tests and cooperate with other countries and regions to explore cross-border applications of the digital yuan.

Mu stressed that the digital yuan is not intended to replace cash or existing payment methods, but to complement them and provide more options for consumers and businesses. He said that the digital yuan is a legal tender issued by the PBOC, and that its value is backed by the full credit of the central bank. He also assured that the digital yuan is safe and reliable, and that its design and operation follow the principles of stability, security, efficiency, and inclusiveness.

However, the digital yuan also faces some challenges and risks, such as technical issues, regulatory uncertainty, public acceptance, and international coordination. Moreover, the digital yuan raises some concerns about privacy, surveillance, and cybersecurity, as the PBOC will have access to a vast amount of transaction data and have the ability to monitor and control the flow of money. The digital yuan could also pose a threat to the existing financial intermediaries, such as banks and payment platforms, as they may lose market share and revenue to the PBOC.

The digital yuan is a pioneering and ambitious project that could reshape the future of money and finance. It is also a strategic move by China to gain an edge in the emerging digital economy and to assert its role in the global arena. The digital yuan is not only a matter of technology, but also of politics and power. It is therefore important for policymakers, businesses, and consumers around the world to pay close attention to its development and impact.

Despite many predictions to the contrary, China may never overtake the U.S. as the world’s biggest economy, according to Bloomberg Economics. The nation’s recent growth slowdown could presage an era of roughly 1% growth by 2050, the report notes, and is shifting perceptions about China’s ability to roar past the U.S. Concerns over how China is managing its economy and the nation’s worsening property crisis are two of the main reasons for the more downbeat assessment. Economists had initially been more optimistic about China’s economic recovery prospects after an elongated closure for the pandemic. (LinkedIn News)

Arkham Intelligence found 500 wallet addresses linked to Grayscale Ethereum Trust

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Arkham Intelligence, a blockchain analytics firm, has published a report that reveals the identity of 500 wallet addresses that belong to Grayscale Ethereum Trust, the world’s second largest ETH entity with $5 billion in holdings. According to Arkham, these wallets hold more than 1.3 million ETH, or about 1.1% of the total supply.

The report claims that Arkham was able to link these wallets to Grayscale by using various methods, such as analyzing transaction patterns, tracing funds from known Grayscale addresses, and cross-referencing data from other sources. Arkham says that its findings are based on “high confidence” and that it has verified its results with multiple independent parties.

Arkham argues that its report is important for the Ethereum community, as it provides more transparency and insight into the activities and intentions of one of the largest institutional investors in the space. Arkham also suggests that its report could have implications for the price and liquidity of ETH, as well as for the upcoming transition to Ethereum 2.0, which will introduce a new staking mechanism.

Grayscale Ethereum Trust is a product of Grayscale Investments, a digital asset management company that offers exposure to various cryptocurrencies through its trusts and funds. Grayscale Ethereum Trust allows accredited investors to buy shares that represent ETH holdings, without having to deal with the technical aspects of owning and storing the cryptocurrency. Grayscale periodically buys more ETH from the market to match the demand for its shares, which trade at a premium over the spot price.

Grayscale has not commented on Arkham’s report as of yet, nor has it confirmed or denied the accuracy of its findings. Grayscale’s website states that it does not disclose the wallet addresses of its trusts for security and operational reasons. However, some of its addresses have been publicly revealed in the past, such as when it moved large amounts of ETH to Coinbase Custody in June 2020.

In an interesting development, the London Stock Exchange Group (LSE Group) is exploring the use of blockchain technology to create a new trading platform that would offer a more transparent and efficient way of executing transactions. The project, dubbed TradeView, aims to leverage the distributed ledger capabilities of blockchain to provide a real-time view of trades, settlements and clearing across multiple asset classes and markets.

TradeView would enable participants to access a shared ledger of transactions, reducing the need for intermediaries and reconciliations, and improving the speed and accuracy of trade execution. The platform would also allow for the creation of smart contracts, which are self-executing agreements that can automate the execution of complex business logic and enforce compliance rules.

The LSE Group is working with several partners, including IBM, Digital Asset and R3, to develop and test the TradeView platform. The project is part of the LSE Group’s broader strategy to embrace innovation and digital transformation, as well as to enhance its competitive position in the global financial markets.

The LSE Group believes that blockchain technology has the potential to revolutionize the trading industry, by creating new opportunities for value creation, cost reduction and risk management. TradeView is one of the first initiatives of its kind in the world and could set a new standard for how trading is conducted in the future.