DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 3874

Business and Commercial Law: Nigeria, Africa and Global – Tekedia Mini-MBA

0

Lawyers shape nations, and provide the logic of the souls of nations. In business, they help us stay within the ordinances in markets. Tekedia law component is a big part of our program because business operates within laws, and having understanding of law is catalytic for effective market operations.

 Tomorrow, Tekedia Faculty Barrister Kingsley Izimah, LL.B, B.L, of SK Solicitors will educate us on Business and Commercial Law: Nigeria, Africa and Global. Zoom link in the class board.

 Tekedia Mini-MBA >> the best school. The next edition begins Sept 11, register here 

Nigeria’s Economic Challenges In the Post-Subsidy Era: UI Professor Oka Obono Recommends Communal Approach to Palliative Distribution

0

Professor Oka Martins Obono of the department of Sociology, University of Ibadan suggests a community-driven palliative food programme to cushion the effects of the removal of fuel subsidy on Nigerians. In his recent social media post titled “That we all may breadth” Professor Obono advocates a new subsidy regime that is anchored on and driven by social and moral values such as empathy and compassion.

When the privileged begin to see themselves as the shade or “subsidy” of the less privileged, Nigeria could be made to open a new vista of economic opportunities that culminates in social happiness. According to the Professor of Sociology and Ethnodemography, we are currently embroiled in moral crisis. Perhaps if we redeemed our personalities, our policies will change.

Professor Obono’s words are below:

“Recently, the Chairman of a Local Government in the Southwest of Nigeria is alleged to have distributed foodstuff at the stock price of a thousand naira to all his constituents as a palliative measure in the post-Subsidy era. In a video going viral, his constituents can be seen buying up yams, onions, tomatoes, potatoes, garri, palm oil, and so on, in a fairly orderly fashion. There was none of the rancour you saw in the warehouses of the post-COVID palliatives.

“We need to seize this moment to recognize that there is more to be done.
“If only each could be Someone else’s subsidy, There could be peace. There could be blush. And, for sure, There could be bliss.

“The logic is that you and I (upper middle class, or solid middle class Nigerians) would not rush for the all-you-can-buy-for- one-thousand-naira palliative that a local government chairman was providing. That is meant for the poor or near-poor among his constituents. The delivery smacked of welfarism shorn of any pretense of bureaucracy.

“What the rest of us should do in response is provide our less privileged neighbours a sum of money, no matter how small or big, and then watch their households and pantries swell with foodstuff under this kind of community-driven palliative food programme. Nothing would be too big or small.

“That would be mass compassion in action. We must not re-exploit those who already hunger and thirst through a more original system of exploitation. We must, and can do, better than that.

“We must adopt a new mode of being for this season, endorse a new code of interaction in the country.

“Pay the cobbler more than he has charged you, not less. You are helping him breathe. Pay the poor more for less. We are rebalancing the scales.

“The Government can still provide its 8k (we need all we can get) but the Government has to ensure the cash goes further than it does under the current circumstances.

“We all need to grab hold and heave to help one another out of this thick financial quagmire.

“Buy a litre or two of petrol for the young barber down the street. This would normalise his heartbeat. Do not withdraw your hand from its random acts of kindness.

“Pay someone’s child’s school fees. She would breathe better in the classroom than on the streets. Do this, even if it means through sacrifice. Buy a meal or two for anybody. They would absorb more of the moral philosophy you so yearn to teach them then.

“Bring out those expensive clothes you are no longer using. Now is the time to give them away. You don’t need twenty pairs of shoes when you have only ten toes! They would be given away anyway, when you are gone. A flood or fire can take them away, or your death can do so. Why would you not authorise who gets your things now, when you still can?

“Commit to providing at least one meal a day to a hungry family you know. Derive your smile from theirs. Watch them finally sleep peacefully. They hustle so hard.

“Perhaps if we redeemed ourselves through our personalities, our policies will improve. We are embroiled in a moral war, shapen in the iniquity of a lawless mores. It is through humane action that we can merit our nation.

“It is only through this mass compassion that we can see one another through to the other side. One is not quite a human being if one is not being human. To be a human being is to be a humane being.

“There is simply no joy to be had from the joyless expressions carved by detached policy sculptors on people’s faces these days.

“We, the people, can replace these expressions with increased hope and superordinate belief in ourselves. It is not for the Government to bequeath us with the legacies of our fathers. That privilege is perilous and it is personal. Like Jason, we must seek out our golden fleece on our own. We must do this, even while avuncular usurpers feast for a short while on their mediocrity, pending our return.

“When you lose the concept of paradise, and the knowledge of heaven fades from memory and retreats even from imagination, then regaining it must be the collective responsibility of all. In particular, only those who can remember what paradise looked like should lead in reclaiming it.

“We each must turn into the subsidy that was removed. We must each embody the hope denied. We must become the incarnation of honour once found in Fajuyi. One for all. All for one.

“Let each one tell one. We have found our new meaning in our oldest message. We must recognise the reason for our existence in the continued prosperity of other citizens. We must be less chary, and more charitable. We must each be the subsidy of somebody’s existence.

“The peace I seek resides in the peace I provide. The love I need nestles in the love I give. I am because you are. You are because I am. Hatred is therefore not only evil, but ignorant.

“We must become what we seek everyday — the lost comfort that is ours by right, that retreating happiness.

“Nigeria!

“We must each lend voice to someone’s voicelessness, be the defence for the widow’s defencelessness, balm for their aching wounds. We must forgive the foolishness of the virgins, and lend them some of our oil, that they may light up their lanterns and that they may see also.

“We must lend somebody some of our own oxygen, that we all may breathe. Please.”

Implications of First Spot Exchange-Traded Fund based on Bitcoin in Europe

0

The European Securities and Markets Authority (ESMA) has recently approved the first spot bitcoin exchange-traded fund (ETF) in Europe, paving the way for more institutional investors to enter the crypto market. The spot bitcoin ETF, which will track the price of bitcoin directly rather than through derivatives or trusts, is expected to launch in early 2024 on the Euronext Paris and Amsterdam exchanges. This means that investors can now buy and sell shares of a fund that tracks the price of bitcoin without having to deal with the complexities and risks of owning and storing the cryptocurrency directly.

The ETF, called Bitcoin ETP, is issued by 21Shares AG, a Swiss-based firm that specializes in crypto financial products. It will be listed on the SIX Swiss Exchange, the largest stock exchange in Switzerland, and will have a management fee of 1.49% per year. The fund will be fully backed by physical bitcoins held in cold storage by a custodian and will be audited by a reputable accounting firm.

The approval of the Bitcoin ETP is a significant development for the crypto space, as it opens up a new avenue for institutional and retail investors to gain exposure to bitcoin. Unlike other crypto products that use derivatives or futures contracts to track the price of bitcoin, the Bitcoin ETP will reflect the actual spot price of bitcoin, which is determined by supply and demand in the market. This means that investors will not have to worry about issues such as rollover costs, contango, or tracking errors that can affect the performance of other crypto products.

This is a significant development for the crypto industry, as it will provide more liquidity, transparency and regulatory oversight for bitcoin trading in Europe. Unlike previous attempts to launch bitcoin ETFs in other jurisdictions, such as the US and Canada, the spot bitcoin ETF will not incur any additional fees or risks associated with futures contracts or third-party custodians. Instead, the ETF will hold physical bitcoins in cold storage, ensuring that investors have full exposure to the underlying asset.

The approval of the spot bitcoin ETF also reflects the growing recognition and acceptance of crypto assets by European regulators and policymakers. In September 2020, the European Commission proposed a comprehensive framework for regulating crypto assets, known as the Markets in Crypto-Assets Regulation (MiCA). The MiCA aims to harmonize the rules and standards for crypto assets across the EU, while ensuring consumer protection, market integrity and financial stability. The MiCA is expected to be adopted by the end of 2023, coinciding with the launch of the spot bitcoin ETF.

The spot bitcoin ETF will likely attract more institutional investors to the crypto market, as it will offer them a convenient and secure way to gain exposure to bitcoin without having to deal with the technical and operational challenges of buying and storing crypto assets directly. Moreover, the spot bitcoin ETF will benefit from the high liquidity and efficiency of the Euronext exchanges, which are among the largest and most reputable in Europe. The spot bitcoin ETF will also have a competitive edge over other crypto products, such as Grayscale’s Bitcoin Trust (GBTC) or CoinShares’ Bitcoin ETP (BTCE), which trade at a premium or discount to the net asset value (NAV) of their underlying assets.

The spot bitcoin ETF could also have a positive impact on the price and adoption of bitcoin, as it will increase the demand and supply of the cryptocurrency in the market. According to some estimates, if a similar spot bitcoin ETF were approved in the US, it could boost the price of bitcoin by 10% to 15% in the short term, and by 40% to 60% in the long term. Furthermore, the spot bitcoin ETF could also increase the awareness and education of crypto assets among retail investors, who may be more familiar and comfortable with investing in ETFs than in crypto platforms or wallets.

The Bitcoin ETP is also expected to boost the liquidity and adoption of bitcoin, as it will make it easier and cheaper for investors to access the cryptocurrency. By buying shares of the ETF, investors can avoid the hassle of setting up a crypto wallet, buying bitcoins from an exchange, and transferring them to a secure storage. They can also benefit from the regulatory oversight and transparency that comes with investing in a regulated fund.

The approval of the Bitcoin ETP in Europe is a sign that regulators are becoming more open and supportive of crypto innovation. It also shows that there is a strong demand and interest for crypto products among investors. The Bitcoin ETP could pave the way for more spot ETFs based on other cryptocurrencies, such as ethereum, litecoin, or polkadot, as well as for more crypto products in other regions, such as North America or Asia.

The Bitcoin ETP is a game-changer for the crypto industry, as it offers a simple and convenient way for investors to access the most popular and valuable cryptocurrency in the world. It is also a testament to the maturity and growth of the crypto space, as it demonstrates that crypto assets can meet the high standards and requirements of regulators and investors alike.

Understanding Layer 1 and 2 Blockchain Infrastructures

0

Blockchain technology has been gaining popularity and adoption in various sectors and industries, thanks to its benefits such as decentralization, security, transparency and immutability. However, one of the major challenges that blockchain faces is scalability, which refers to the ability of a network to handle a large number of transactions without compromising on speed, cost or performance.

Scalability is crucial for blockchain networks to support the growing demand and use cases of cryptocurrencies and decentralized applications (DApps). However, due to the inherent design of blockchain, which requires every transaction to be validated and recorded by multiple nodes in a distributed ledger, scalability becomes a bottleneck that limits the throughput and efficiency of the network. To address this issue, various solutions have been proposed and implemented to improve the scalability of blockchain networks. These solutions can be broadly classified into two categories: Layer1 and Layer2.

Layer1 solutions are those that modify or upgrade the base protocol or infrastructure of a blockchain network. They aim to increase the capacity and performance of the network by changing some parameters or features of the underlying blockchain, such as block size, consensus mechanism, cryptography method or node network. Layer1 solutions are also known as on-chain solutions, as they operate within the blockchain itself.

Some examples of layer1 blockchains are Bitcoin, Ethereum, Cardano, Solana, and Polkadot. Each of these blockchains has its own advantages and disadvantages in terms of performance, functionality, and governance. For instance, Bitcoin is the most secure and widely adopted layer1 blockchain, but it has limited scalability and programmability.

Ethereum is the most popular platform for smart contracts and decentralized applications, but it suffers from high fees and congestion. Cardano is a research-driven project that aims to achieve high scalability, security, and sustainability, but it is still in development. Solana is a high-performance blockchain that can process thousands of transactions per second, but it requires specialized hardware and has a higher risk of centralization. Polkadot is a multi-chain network that enables interoperability and innovation across different blockchains, but it has a complex design and governance.

Layer1 blockchain is the backbone of any blockchain ecosystem, but it is not the only layer. There are also layer2 solutions, which are built on top of layer1 blockchains to enhance their capabilities and overcome their limitations. Layer2 solutions include sidechains, state channels, plasma, rollups, and sharding. These solutions aim to improve the scalability, speed, and efficiency of layer1 blockchains by moving some or all of the computation and storage off-chain, while maintaining the security and decentralization of the main chain.

Layer1 blockchain is an essential topic for anyone who wants to understand how blockchain technology works and what are its potential applications. By learning about the different layer1 blockchains and their trade-offs, you can make informed decisions about which blockchain platform to use or invest in. You can also explore the various layer2 solutions that complement and enhance the layer1 blockchains. In this way, you can gain a comprehensive and nuanced perspective on the current state and future direction of blockchain technology.

Layer2 solutions are those that build on top of or alongside the base protocol or infrastructure of a blockchain network. They aim to improve scalability by moving some or all of the transactions off-chain, meaning that they are processed outside of the blockchain by using third-party services or networks. Layer2 solutions are also known as off-chain solutions, as they operate outside of the blockchain itself.

Some examples of Layer2 solutions are:

Lightning Network: A network of payment channels that allows users to make instant and low-cost transactions without broadcasting them to the blockchain, unless there is a dispute or settlement. The Lightning Network enables peer-to-peer micropayments and cross-chain interoperability for Bitcoin and other cryptocurrencies.

Plasma: A framework that allows users to create child chains that are anchored to the main chain but operate independently with their own rules and validators. Plasma enables scalable and secure DApps that can handle complex computations and transactions off-chain, while relying on the main chain for security and finality.

Polygon: A platform that provides various Layer2 solutions for Ethereum, such as Plasma chains, zkRollups, Optimistic Rollups and Validium. Polygon enables scalable and interoperable DApps that can benefit from Ethereum’s ecosystem and security, while avoiding its congestion and high fees.

The main difference between Layer1 and Layer2 solutions is that Layer1 solutions require changes or consensus from the entire network, while Layer2 solutions do not. Layer1 solutions are more secure and decentralized, but also more complex and rigid. Layer2 solutions are more flexible and scalable, but also more reliant on trust assumptions and external factors.

Both Layer1 and Layer2 solutions have their advantages and disadvantages, and they are not mutually exclusive. In fact, many blockchain networks use a combination of both types of solutions to achieve optimal scalability and performance. For example, Bitcoin uses SegWit as a Layer1 solution and Lightning Network as a Layer2 solution. Ethereum uses Ethereum 2.0 as a Layer1 solution and Polygon as a Layer2 solution.

The choice of which solution to use depends on various factors, such as the use case, the trade-off between speed and security, the user preference and the network condition. Ultimately, both Layer1 and Layer2 solutions aim to enhance the scalability of blockchain networks and enable more innovation and adoption in the blockchain space.

Top Coins to Buy During the Current Market Momentum: Toncoin, Dogecoin, Everlodge

0

Those looking to diversify and manage their risk efficiently will typically discover projects which have high-growth potential. By providing them with massive ROI, they can recoup some of the losses. As a result, many are now eyeing Toncoin (TON), Dogecoin (DOGE), and Everlodge (ELDG).

Summary

  • Everlodge to spike by 4,000%
  • Toncoin will climb above $2 to $2.83 by the end of 2023
  • Dogecoin to surge to $0.098 by the end of the year

Join the Everlodge presale and win a luxury holiday to the Maldives

Toncoin (TON) Gains Momentum

The Toncoin (TON) cryptocurrency has experienced a swing in a green direction recently, with a climb of 19.8% in the last 14 days. Moreover, in the past seven days, it’s been up 11.8%. As of August 16, 2023, the Toncoin crypto trades at $1.44.

During the last week, its low point was at $1.25, with its high point at $1.50. If Toncoin manages to break past the $1.50 barrier, it is primed to reach new heights.

Its market cap is currently at $4,969,670,070, and it has a trading volume of $28,742,433, making it the 16th largest crypto in terms of market cap. According to the Toncoin price prediction, it can surge to $2.83 by the end of the year.

Dogecoin (DOGE) Up On Charts

Another notable altcoin that has been grabbing attention is the Dogecoin (DOGE) meme-coin. It is ranked 8th on the top 100 list and is the largest altcoin that falls into the meme-coin category.

On August 16, 2023, it traded at a value of $0.069044. Moreover, it has a market cap of $9,726,709,393 and a 24-hour trading volume of $610,453,468.

As for its weekly performance, the Dogecoin crypto experienced its low point of value at $0.069514, with its high point at $0.077145. However, according to analysts, the Dogecoin price prediction puts it at a value of $0.098 by the end of the year.

Everlodge (ELDG) Expected to Spike in Value

However, Toncoin and Dogecoin are not the only two altcoins worth getting during this current market momentum and upswing. Everlodge is another altcoin that can experience a massive level of growth, where analysts predict that a 4,000% surge is coming.

Unlike traditional platforms for real-estate investments, Everlodge innovates by making investments accessible for as little as $100. This is because the platform digitizes, then mints properties in the form of NFTs. They are also fractionalized. What this means is that a person no longer has to make an upfront payment of $1,000,000 or even $2,000,000, and instead, can just buy a single fraction worth much less.

This significantly lowers the barrier of entry while also making otherwise illiquid assets extremely liquid and available for anyone from anywhere.

Subsequently, the holders of the ELDG token, the native cryptocurrency behind the platform, can get fixed monthly interest when staking the crypto. During the presale period, it trades at $0.01, and it has been selling out quickly. At Stage 2, its value will also spike by 20%, so investors will need to hurry in order to get it at a discount.

Find out more about the Everlodge (ELDG) Presale

Website: https://www.everlodge.io/

Telegram: https://t.me/everlodge