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The Everything App X

By
Paul Ugbede Godwin
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0

Have you ever wished you could have one app that does everything for you? From booking flights and hotels, to ordering food and groceries, to managing your finances and health, to connecting with friends and family, to finding entertainment and education, to accessing any service or product you can think of? Well, your wish has come true with the Everything App X, the ultimate app that promises to make your life easier, simpler and better.

The Everything App X is a revolutionary app that integrates hundreds of different apps into one seamless platform. You can access any app you want with just a tap, without having to download, install or switch between them. You can also use the app’s smart assistant, which can handle any request you have, such as booking a trip, ordering a pizza, paying a bill, scheduling a meeting, sending a message, playing a game, learning a skill, and more. The app’s assistant uses artificial intelligence and natural language processing to understand your needs and preferences, and to provide personalized and relevant suggestions and solutions.

The app also has a social network feature, where you can connect with other users who share your interests and goals. You can join communities, chat with friends, follow influencers, create content, earn rewards, and discover new opportunities. The app’s social network is designed to foster positive and meaningful interactions, and to help you grow as a person.

Back in May, 2022 on the All-In podcast, Musk said that the US needs a super app. “It’s either convert Twitter to that, or start something new. It does need to happen somehow,” he said.

“If you’re in China, you kind of live on WeChat,” Musk said. “It does everything. It’s sort of like Twitter, plus PayPal, plus a whole bunch of things all rolled into one, with a great interface. It’s really an excellent app, and we don’t have anything like that outside of China.”

The app also has a marketplace feature, where you can buy and sell anything you want. You can browse through millions of products and services from different categories and industries, such as fashion, electronics, beauty, health, education, travel, entertainment, etc. You can also sell your own products and services, or offer your skills and talents to other users. The app’s marketplace is powered by blockchain technology and smart contracts, which ensure secure and transparent transactions.

The super app, he continued, should serve as a “digital town square” that lets users leave comments and post videos. Once the platform had a high level of trust among the public, Musk said, “then payments, whether it’s crypto or fiat, can make a lot of sense.”

At a town hall event with Twitter employees a month later, Musk reiterated that idea. In China, “you basically live on WeChat,” Musk said, “because it’s so usable and helpful to daily life, and I think if we can achieve that, or even get close to that at Twitter, it would be an immense success.” He also suggested that Twitter’s user base could grow from just over 200 million to “at least a billion people,” CNN reported.

On Twitter on Tuesday, Musk said that, “Twitter probably accelerates X by 3 to 5 years, but I could be wrong.” The next day, he remarked, “Twitter is an accelerant to fulfilling the original X.com vision.”

The app also has a loyalty program feature, where you can earn points for using the app and its partners. You can redeem your points for discounts, coupons, cashbacks, freebies, gifts, donations, etc. You can also use your points to access premium features and benefits from the app and its partners. The app’s loyalty program is designed to reward you for being an active and loyal user of the app.

Musk co-founded an online bank called X.com in 1999, which later merged with another company to form PayPal. In 2017, he reacquired the domain name X.com from PayPal for an undisclosed sum.

Meanwhile, Musk founded SpaceX in 2002 and via his car company, Tesla, released the Model X in 2015. To pursue his Twitter bid, Musk established three holding companies in Delaware, all with variations of the name “X Holdings.”

Creating a US-based “super app” in the US would be no easy task, especially given the number of heavy hitters with similar ambitions. Facebook and Instagram have pushed into e-commerce, for instance, while Snapchat experimented with peer-to-peer payments. Amazon has extended in several facets of everyday life, while Walmart is moving into digital banking.

The Everything App X is more than just an app. It’s a lifestyle. It’s a community. It’s a marketplace. It’s a loyalty program. It’s an assistant. It’s everything you need and want in one place. It’s the ultimate app that will change the way you live.

What’s next for Twitter, or rather for X? Elon Musk has said it will be “the everything app”: Twitter, YouTube, PayPal, TikTok and Amazon all rolled into one, according to Axios, which spoke with Musk’s biographer, Walter Isaacson. Musk believes X can “easily” be a $1 trillion company, according to Isaacson — and he’s been mulling some form of the idea for close to 25 years. Yet, some marketing experts sayMusk is too quick to dismantle one of the world’s most recognizable brands: “Elon Musk has essentially wiped out 15 years of brand value from Twitter and is now essentially starting from scratch.”

The name “X” is likely to face various legal challenges, notes Reuters, given it is widely used and cited in hundreds of trademark registrations. (Linkedin news)

Join us and co-invest in some of the finest startups in Africa and beyond

By
Ndubuisi Ekekwe
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0

Yes, we invest in a lot of tech-anchored companies across industries and territories,  from agriculture to construction, real estate to financial services, downstream oil & gas to logistics, and more.  In the next few weeks, we will begin the next cycle of Tekedia Capital Syndicate.

Join us and co-invest in some of the finest startups in Africa and beyond.

(Sure, the requirements to become a member are very high, primarily because we want only those who can take early stage investing risks to join. We do not want anyone to use money for diapers and Indomie noodles for investing in fintechs, etc.)

eTranzact Releases 2022 Financial Report, Completed Transactions Worth N50 Trillion in Value

By
Ojukwu Emmanuel
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0

Nigerian technology company that provides payment solutions, eTranzact, in its financial report for 2022, completed transactions worth N50 trillion in value, up from N39 trillion processed in 2021.

According to the report, the payments service provider recorded N1.17 billion in profit, a 157.81% increase from the previous year. 

Consequently, the company recorded a 157.8 percent growth in profit after tax (PAT), to N1.17 billion from N455.75 million in 2021. Earnings per share rose by 128.57 percent to 16 kobo in 2022 from seven kobo in 2021.

The company’s management made this disclosure at its 19th annual general meeting in Lagos. eTranzact CEO Olaniyi Toluwalope lauded the team for their effectiveness in ensuring payments get processed immediately.

He disclosed that the company ensured a 99 percent rate and uptime across the various service offerings during 2022. This, he said, involved the deployment of technology and the required expertise to ensure prompt and seamless processing of transactions, and to ensure constant availability of all the channels with minimal to zero downtime.

Mr. Toluwalope further noted that eTranzact is well-positioned and has enhanced the capacity to further process more transactions going forward. He added that the company is poised and committed to being a regional leader in the medium term and the long term, a global leader in the electronic and mobile payment industry.

Also speaking on eTranzact’s remarkable 2022 financial report, the chairman of the company, Wole Abegunde described 2022 as “a significant year in the history of the company’s financial performance, thanks to the focus and expansion of core switching services”.

Represented by Mr. Afolabi Oladele, a Non-Executive Director of the company, Abegunde added, “The landmark achievement is down to the management’s drive for excellence and demonstration of the commitment of the management and the board to ensure maximum returns on the investment of shareholders. The Company will not relent on the performance and will seek more business opportunities to boost subsequent financial results.”

Speaking on eTranzact plans, Abegunde said;

“We are poised and committed to being a regional leader in the medium term and the long term, a global leader in the electronic and mobile payment industry. To this end, we will continue to deliver secure, cost-effective, and innovative electronic and mobile payment services that are compliant with globally recognized standards.”

eTranzact is Nigeria’s premier payment processing platform and Africa’s leading provider of banking and payment services.

The payment service provider has today evolved into a brand with global reach, extending its innovative services to include products that cut across virtually all aspects of the e-payment space which include; ATM, Internet, POS, and Mobile. eTranzact is the simpler, safer, and easier way to complete transactions online and offline.

The platform empowers its customers with smarter, simpler payments for their diverse lifestyles and businesses. Its secure flexible solutions are thoughtfully designed by the best in the industry for guaranteed hassle-free payment acceptance and processing.

In 2022, eTranzact won an award as the Most Financially Inclusive Agent Solution of the Year by the Central Bank of Nigeria (CBN).

The company’s mission is to provide secure, convenient, and effective means to make and receive payments, with a vision to be the leading payment technology provider for individuals and organizations.

UK MPs advise treating investing in cryptocurrencies as a gamble

By
TI Partners
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0

The value of cryptocurrency can change at any time – state the MPs. Since the risk of losing your investment is quite high, you should treat investing in this type of currency like gambling. Now, when you are looking for new cryptocurrency exchanges, you can imagine that you are looking for new casinos at www.topcadcasinos.net. According to experts, the point is the same – you are investing money in a high-risk endeavor that could bankrupt you.

At the same time, the CryptoUK association rejected such conclusions, stating that such remarks are useless and false.

Lose everything

According to the committee, so-called “unsecured” crypto assets – cryptocurrency with no fixed value – are a huge risk for the novice investor. Such investments have no useful social purpose, and more resemble gambling rather than a financial service.

The MPs’ words were confirmed by representatives of the GamCare charity organization, who told the BBC about the appeals of more than 300 people. In their statements, they claimed to be experiencing difficulties with investing in cryptocurrency and other forms of online markets.

This is also noted by the investors themselves, who literally “burned through” on deposits in cryptocurrency. So, a former casino player Castle Craig, said that in the times of active investment in crypto lost more than 150 thousand pounds sterling.

What happens next

In February 2023, the government asked the public to comment on proposals for the financial regulation of cryptoassets. Such a need arose from the results of surveys that proved that about one in ten UK residents own crypto-assets. At the same time, the majority started investing in the currency only because such an investment seemed “fun”.

The committee recommended a balanced approach. At the same time, its representatives recommended that the government should not spend public resources on projects without a clear beneficial use, noting that there is no point in regulating such investments.

Federal Regulators needed for Crypto Oversight

By
Paul Ugbede Godwin
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0

The cryptocurrency market is growing rapidly, with more than $2 trillion in total value and over 10,000 different tokens in circulation. However, this market is also largely unregulated, posing significant risks to investors, consumers, and the financial system. Cryptocurrencies are digital assets that use cryptography to secure transactions and control the creation of new units. They operate on decentralized networks of computers, without the need for intermediaries such as banks or governments. Some of the most popular cryptocurrencies include Bitcoin, Ethereum, and Dogecoin.

While cryptocurrencies offer many potential benefits, such as faster, cheaper, and more inclusive payments, they also present many challenges and dangers. For example: Cryptocurrencies are highly volatile, subject to manipulation, fraud, and cyberattacks. Investors can lose their entire savings in a matter of minutes if the market crashes or their wallets are hacked.

Cryptocurrencies are often used for illicit activities, such as money laundering, tax evasion, and terrorism financing. Criminals can exploit the anonymity and global reach of cryptocurrencies to evade law enforcement and regulatory oversight. Cryptocurrencies can pose systemic risks to the financial stability and monetary policy of countries. If cryptocurrencies become widely adopted as a medium of exchange or store of value, they can undermine the effectiveness and authority of central banks and regulators.

These challenges and dangers call for a coordinated and comprehensive response from federal regulators. Currently, there is no clear or consistent framework for regulating cryptocurrencies in the United States. Different agencies have different definitions, jurisdictions, and approaches to cryptocurrencies, creating confusion and uncertainty for the industry and the public.

For instance, the Securities and Exchange Commission (SEC) considers some cryptocurrencies as securities, subject to its rules and enforcement actions. The Commodity Futures Trading Commission (CFTC) considers some cryptocurrencies as commodities, subject to its oversight and regulation. The Internal Revenue Service (IRS) considers cryptocurrencies as property, subject to taxation. The Financial Crimes Enforcement Network (FinCEN) considers cryptocurrencies as money, subject to anti-money laundering and counter-terrorism financing requirements. The Federal Trade Commission (FTC) considers cryptocurrencies as consumer products, subject to consumer protection laws.

However, these agencies often have overlapping or conflicting mandates, resulting in gaps or overlaps in regulation. Moreover, these agencies often lack the resources, expertise, or authority to effectively monitor and regulate the cryptocurrency market. For example, the SEC has limited jurisdiction over cryptocurrency exchanges, which are the main platforms for trading cryptocurrencies.

The CFTC has limited ability to prevent fraud and manipulation in the cryptocurrency derivatives market. The IRS has limited capacity to track and collect taxes from cryptocurrency transactions. The FinCEN has limited cooperation from foreign counterparts to combat cross-border illicit flows of cryptocurrencies. The FTC has limited tools to protect consumers from deceptive or unfair practices involving cryptocurrencies.

Therefore, there is an urgent need for a unified and consistent federal regulatory framework for cryptocurrencies. Such a framework should:

Define clear and consistent rules and standards for cryptocurrencies across different agencies and sectors.
Enhance coordination and cooperation among federal regulators and other stakeholders, such as state regulators, industry associations, and international partners.
Promote innovation and competition in the cryptocurrency market, while protecting investors, consumers, and the financial system from risks.
Foster transparency and accountability in the cryptocurrency market, while respecting privacy and security of users.
Support education and awareness among the public about the benefits and risks of cryptocurrencies.

A federal regulator for crypto oversight would address these issues by providing a single point of contact and authority for crypto regulation in the United States. A federal regulator would harmonize the definitions and classifications of crypto assets across different agencies and states and establish clear and consistent rules and standards for crypto businesses and users. A federal regulator would also coordinate with other countries and international organizations to ensure global alignment and cooperation on crypto regulation.

A federal regulator would enhance the protection of consumers, who would benefit from more transparency, accountability, and recourse in case of disputes or losses. A federal regulator would also ensure the stability of the financial system, by monitoring systemic risks posed by crypto assets and preventing market manipulation or abuse. Finally, a federal regulator would promote fair and efficient markets, by fostering innovation and competition in the crypto industry.

I believe that a federal regulator for crypto oversight is needed in the United States and around the globe to provide clarity, consistency, and certainty for the crypto industry and its stakeholders. A federal regulator would balance the interests of innovation and regulation, while protecting consumers, investors, and the public interest.

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