Survey finds 47% of Investors expect Ethereum to ‘Surpass’ Bitcoin in Market Cap

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July 19, 2023

A recent survey conducted by Finder, a comparison platform and cryptocurrency information provider, revealed that 47% of the respondents believe that Ethereum will overtake Bitcoin in terms of market capitalization in the future. The survey polled 42 experts from the cryptocurrency industry, including CEOs, analysts, professors, and journalists.

The majority of the experts agreed that Ethereum has more potential for growth and innovation than Bitcoin, citing its scalability, functionality, and network effects as key factors. Some of the experts also pointed out that Ethereum is more environmentally friendly than Bitcoin, which consumes a lot of energy for its proof-of-work consensus mechanism.

However, not everyone was bullish on Ethereum. 35% of the respondents said that Bitcoin will remain the dominant cryptocurrency, while 18% were undecided. The Bitcoin supporters argued that Bitcoin has a stronger brand recognition, network security, and store of value proposition than Ethereum. They also noted that Bitcoin is more resistant to regulatory pressures and censorship than Ethereum, which is more centralized and influenced by its developers.

The survey also asked the experts about their price predictions for both cryptocurrencies by the end of 2021 and 2025. The average forecast for Ethereum was $4,596 by the end of 2021 and $17,810 by the end of 2025, representing an increase of 234% and 1,005% respectively from the current price of $1,374. The average forecast for Bitcoin was $66,284 by the end of 2021 and $318,417 by the end of 2025, representing an increase of 122% and 583% respectively from the current price of $29,861.

The survey results indicate that there is a growing sentiment among investors and experts that Ethereum could challenge Bitcoin’s supremacy in the cryptocurrency market. However, there are also many uncertainties and risks involved in both projects, such as technical issues, regulatory hurdles, and market volatility. Therefore, it is advisable to do your own research and exercise caution before investing in any cryptocurrency.

Ripple Invests in AI and Metaverse Startup

Ripple, the company behind the XRP cryptocurrency, has announced a strategic investment in a new startup that aims to create immersive and interactive experiences in the metaverse using artificial intelligence.

The startup, called MetaAI, is developing a platform that will allow users to create and share their own virtual worlds, characters, and stories using natural language and voice commands. MetaAI’s vision is to enable anyone to become a creator and storyteller in the metaverse, without the need for coding or design skills.

MetaAI’s platform will leverage Ripple’s blockchain technology and XRP ledger to enable fast, secure, and low-cost transactions and settlements across the metaverse. Users will be able to buy, sell, and trade digital assets and services using XRP, as well as access decentralized applications (DApps) and smart contracts built on Ripple’s network.

Ripple’s investment in MetaAI is part of its broader strategy to support innovation and adoption of blockchain and cryptocurrency in various sectors and use cases. Ripple has previously invested in startups such as Coil, Forte, Flare Networks, and Mintable, among others.

Ripple’s CEO, Brad Garlinghouse, said in a press release: “We are excited to partner with MetaAI, a visionary team that is pushing the boundaries of AI and metaverse. We believe that the metaverse will be a huge opportunity for blockchain and crypto, as it will create new ways of value creation and exchange. By integrating XRP into MetaAI’s platform, we hope to accelerate the growth and adoption of the metaverse economy, as well as showcase the benefits of XRP as a bridge currency for the internet of value.”

MetaAI’s CEO, Alice Chen, said in a press release: “We are thrilled to receive Ripple’s strategic investment and support. Ripple is a leader and innovator in the blockchain and crypto space, and we share their vision of building a more open, inclusive, and sustainable future. With Ripple’s technology and network, we will be able to offer our users a seamless and secure experience in the metaverse, as well as empower them to create and monetize their own content and stories. We look forward to working with Ripple to bring AI and metaverse to the mainstream.”

Ripple says Banks will want to use XRP

Ripple, the company behind the XRP cryptocurrency, has recently made a bold claim: banks will want to use XRP in the near future. In this blog post, we will explore the reasons behind this statement and what it means for the future of cross-border payments.

XRP is a digital asset that was created by Ripple to facilitate fast, cheap and secure transactions across different currencies and networks. Unlike other cryptocurrencies, XRP does not rely on a decentralized network of miners to validate transactions. Instead, it uses a network of trusted validators that follow a consensus protocol. This allows XRP to achieve faster transaction speeds and lower fees than other cryptocurrencies.

One of the main use cases for XRP is to serve as a bridge currency between different fiat currencies. This means that XRP can be used to convert one currency into another without the need for intermediaries or multiple exchanges. For example, if a bank in Japan wants to send money to a bank in Brazil, it can use XRP to convert yen into reais in seconds, instead of going through multiple steps and paying high fees.

Ripple claims that this use case is very attractive for banks and financial institutions that deal with cross-border payments on a daily basis. According to Ripple, banks will want to use XRP because it can help them reduce costs, increase efficiency and offer better customer service. Ripple also says that XRP can help banks access new markets and customers that are currently underserved by traditional payment systems.

Ripple has been working hard to convince banks and regulators of the benefits of using XRP. It has partnered with over 300 financial institutions around the world, including MoneyGram, Santander and SBI Holdings. It has also launched several products and initiatives that leverage XRP, such as On-Demand Liquidity (ODL), RippleNet and PayID. Ripple hopes that these efforts will increase the adoption and demand for XRP in the global payment market.

However, not everyone is convinced by Ripple’s claims. Some critics argue that banks have no incentive to use XRP, as they already have established relationships and systems for cross-border payments. They also point out that XRP faces regulatory uncertainty and legal challenges in some jurisdictions, such as the US, where the Securities and Exchange Commission (SEC) has sued Ripple for allegedly selling unregistered securities. They also question the environmental impact of XRP, as it consumes a significant amount of energy to maintain its network.

In conclusion, Ripple says that banks will want to use XRP in the near future because it can offer them many advantages over traditional payment methods. However, there are also many challenges and uncertainties that may hinder the adoption and growth of XRP. It remains to be seen whether Ripple’s vision will become a reality or not.

Nigerian to Clamp Down on Market Associations Over High Food Prices

By

Samuel Nwite

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July 19, 2023

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The Federal Government of Nigeria has announced the decision to clamp down on members of market associations responsible for the high cost of food items by their anti-competitive practices.

The move was announced on Tuesday by the Federal Competition and Consumer Protection Commission during a forum titled; ‘Fair food prices in Nigeria: A high-level forum for better competition’, organized by the commission to discuss fair food prices.

Chief Executive Officer of the FCCPC, Babatunde Irukera, said the commission will begin to hand out sanctions against members of trade associations found responsible for the indiscriminate and irrational hike of food prices.

“We will continue to monitor the market, and where we find that prices are excessive or find exploitative conduct, or find that consumers are being taken advantage of, we will intervene. One of the ways of intervening is unlocking the bottlenecks.

“That is what I just said, associations that come together to determine at what price beans should be sold, associations that come together to decide that nobody in a particular market should take yam, beans, or rice from any other person except their members, we will proceed against them,” he said.

Irukera explained that the move has become necessary because some trade unions had constituted cartels to engage in anti-competitive practices that have led to price gouging of basic food items.

He said that it has become crucial to take a firm stance against indiscriminate food price hikes, especially in light of the president’s recent declaration of food security as a national emergency last week.

“Competition regulation and consumer protection is not only to regulate the big companies. It is not only to regulate the formal sector. It is also to regulate the informal sector. In a place like Nigeria, it is even more critical to find a strategy to regulate the informal sector because; at the end of the day the vast majority of our economy is informal,” he said.

However, the move has drawn criticism from business leaders who believe it portends price control that will harm market growth.

The move has come on the heels of the government’s decisions to remove fuel subsidy and float the Nigerian forex market, which has resulted in a significant increase in the cost of goods and services. The removal of fuel subsidy and the floating of the naira mean that the cost of Premium Motor Spirit (PMS), and the naira’s value, will now be determined by market forces.

Critics of the FCCPC’s move said it will cause more harm than good as the high price of petroleum products is forcing market members to increase food prices. They said it will amount to injustice and economic sabotage if the government allows market fundamentals to drive the cost of petroleum products while it regulates the price of food items.

Currently, Nigeria is going through a food crisis that its food production capacity is significantly deficient to quell. Nigeria produced 8,435,000 tonnes of rice, the country’s major staple, in 2021, according to data from Statista. But due to insecurity, production has seen a major decline in the past year, compounding the insufficiency bolstered by rapid-growing population.

With insecurity stymieing farming efforts in many parts of the country, the government has been urged to remove food import restrictions in the short term to allow the nation to attain food security.

Meta’s Threads Commence Roll-Out of New Features to Enhance User’s Experience

By

Ojukwu Emmanuel

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July 19, 2023

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Newly launched Twitter-like app by Meta, Threads, has begun the rollout of new features to improve the app functionality and enhance users’ experience.

In a bid to maintain the momentum that has seen millions of users sign up two weeks after launch, Software Engineer for Instagram Cameron Roth shared a post on Threads, announcing the addition of new features to the app as part of an update to Apple’s iOS.

Threads has introduced a follows tab that will make it easier for users to see who is following them. Users will also be able to access a translate button to read text in other languages and more easily read posts from people they don’t follow.

Also, Threads has rolled out a feature that enable users to subscribe and receive notifications from accounts a user doesn’t follow, and a “+” button that lets users follow new accounts from the replies on a post, as well as bug fixes and other improvements.

Instagram head Adam Mosseri has also hinted at plans to introduce a desktop version of the app as well as a feed of only accounts a user follows and an edit button.

The introduction of new features on the Threads app is coming ideally for the app to improve functionality, and also as users have been clamoring for updates since its launch. The app attracted mind-blowing sign-ups of 100 million users in less than a week but still lacks many of the features on Twitter, its major rival.

Threads saw a decline in user engagement in the first week, according to data from web traffic analysis firms. While the number of daily active users has since fallen, it still has millions of users less than two weeks after it debuted.

This has spurred Meta executives to announce plans to improve the app in the hopes of retaining users and getting more users.

Meta’s CEO Mark Zuckerberg disclosed that 10s of millions of people now come back daily and for the rest of the year, the company plans to focus on improving the basics and retention.

In response to decline of users, Meta is focusing on stabilizing the app’s performance, improving the basics, and enhancing user retention. Zuckerberg reassured users that this playbook has been successful for other Meta platforms like Facebook, Instagram, Stories, and Reels. Once these foundational aspects are optimized, the company will shift its attention toward further growing the Threads community.

In his words,

“I’m very optimistic about how the Threads community is coming together. Early growth was off the charts, but more importantly, 10s of millions of people now come back daily. That’s way ahead of what we expected. The focus for the rest of the year is improving the basics and retention. It’ll take time to stabilize, but once we nail that then we’ll focus on growing the community. We’ve run this playbook many times (FB, IG, Stories, Reels, etc) and I’m confident Threads is on a good path too.”

The launch of Threads has intensified competition in the microblogging space, as the app aims to challenge the dominance of Twitter, as users search for alternative platform following Musk changes.

Meanwhile, Twitter has also been striving to maintain its user base and increase engagement, which has seen the platform roll out new features to ensure users retention.

9 Ways the Rise of Cloud Computing Benefits Students and Educators

By

TI Partners

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July 19, 2023

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In the course of the last couple of decades, cloud computing technologies have been taking over the IT word. It has revolutionized the way people store, access, and manage information. Of course, many spheres have benefited from serverless computing technology, and not only IT. Education also embraced the advantages and adapted to fit the needs of students and educators everywhere.

The technology we’re discussing might not cross your mind often, but there’s a good chance you’re already utilizing it unwittingly! Perhaps not directly, but numerous websites are hosted on the cloud, alleviating the owners’ concerns about hardware management. While seeking “write my paper for me” services, you can efficiently upload your guidelines to the cloud. This method is not only quicker but also provides enhanced security!

So, are you ready to learn more about incorporating these services into your learning? Here are 9 ways the rise of cloud computing benefits students and educators!

What is cloud computing?

Before exploring the obvious advantages of cloud computing in education, it’s important to understand what cloud computing is. In simple terms, serverless computing is basically when a provider offers to handle computing services for you over the internet. These services can include the following:

software
storage
processing power

Instead of running software and storing data on a local computer or server, these services allow users to access these resources over the internet from anywhere in the world. Also, it’s only logical that cloud storage is handled by third-party companies that own and maintain the infrastructure. Basically, you can rent out the infrastructure without making space for it!

Benefits of cloud computing for students and educators

When people think about serverless computing, they usually connect it to information technologies and other IT segments of business. On the other hand, cloud computing can be a valuable asset for education as well! Now that you have a general understanding of the topic, let’s see how it’s connected to education and the learning process.

Adaptability

Students can combine their efforts on projects and homework live. Using serverless computing for learning can be of huge advantage. These platforms also allow professors to collaborate with other teachers from around the world, sharing resources and best practices. Learners can also share documents and presentations, ideas, and provide advice to each other.

Accessibility

This is one of the biggest and most obvious advantages of these services for any sector and not only learning in particular. With serverless computing, students and lecturers can open their files and apps from any laptop or phone with an internet connection. This means that learners can access their work and collaborate with their peers from anywhere on the planet!

Apart from this, this technology has also made it easier for teachers to provide resources and materials to their learners and share files with them. They can upload course materials and assignments to the cloud, making it easier for students to access them. You don’t even have to be present on campus to do your homework anymore!

Security

Security is a major concern for anybody when it comes to saving and editing sensitive information. In this case, security is often much better than traditional methods of data storage. Providers have advanced security measures in place to protect data from unauthorized access, theft, and other threats. Cloud providers also back up data regularly, which means no data loss!

Cost savings

Unfortunately, not all educational institutions have an opportunity to implement something expensive. The younger generation also tries to cut costs on something not essential. Even when they look for the best research paper writing services, they will choose something budget-friendly. You can’t forget about the money aspect when talking about any kind of the newest technologies.

Cloud services can also save money for both learners and teachers. First of all, students don’t need to purchase expensive software or hardware to access applications and files. Instead, they can use cloud-based software and storage solutions, which are often more affordable, if not free. Lecturers can save money by using serverless solutions for things like the following:

grading;
attendance tracking;
course materials.

Scalability

Cloud computing also offers scalability, which is important for educational institutions with limited resources. This means that colleges and schools can offer more resources and services to their learners without having to worry about capacity constraints. There is no need for investing in additional hardware or software, so this also means cost-savings that were discussed above!

Efficiency

Cloud computing allows educators to automate many tasks in the classroom. This can save time and decrease the amount of administrative work for the teachers, allowing them to focus on interacting with their students more! Serverless computing also allows pupils to submit assignments electronically, which can save time and reduce the need for wasting paper as a result.

Innovation

This is true for any new technology that comes on the market today. With cloud computing, lecturers can experiment with new technologies and teaching methods, such as gamification and personalized learning. Cloud computing also allows them to create and deliver content in new and innovative ways, for example, interactive simulations and augmented reality.

Accessibility for students with disabilities

This technology is indispensable for learners with disabilities as it offers more accessibility. This can help the school to make sure that all students have equal access to educational resources and opportunities. Cloud-based software and tools can be designed to be accessible to students with visual, auditory, and physical impairments.

Shared feedback in real time

Last but not the least, real-time feedback is a huge advantage for the learning process. With the applications, teachers can provide feedback to their students instantly, allowing them to focus on the problematic areas and not lose valuable time when it comes to filling gaps in knowledge. This can be very effective in the long run as you get better grades!

Takeaway

So there you have it, 9 ways the rise of cloud computing benefits students and educators! You might not think about it when you upload your paper on the internet, but you are already a huge part of innovation. With these services, you can improve your learning experience and save some time and money all at once!

As Petro Consumption Data Drops by 35%, Nigeria Needs To Build DATA Refineries To Avoid Guesswork Policymaking

By

Ndubuisi Ekekwe

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July 19, 2023

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The Greek philosophers made a strong case that numbers run the universe, and when you do not make sense of the numbers on anything – business, governance, etc – you are very unlikely to succeed. That takes me to the revelation that fuel consumption in Nigeria has dropped by more than 35% since the government removed the fuel subsidy; the breakdown below…

“In January, it was 62 million litres per day; February, 62 million litres per day; March, 71.4 million litres per day; April, 67.7 million litres per day; May 66.6 million litres per day; June, 49. 5 million litres per day and July, 46.3 million litres per day”.

Good people, the drop is statistically evident that everyone, from the National Bureau of Statistics to the regulators, provided wrong data which was used by the government in its decision making. And within that kind of system, it was all guesswork.

(Sure, the deviation on data collection could have come due to petrol smuggling within the neigbbouring countries around Nigeria. Yet, that is part of the process since Nigeria also controls the borders, and should have the capacity to measure and evaluate all that.)

No matter how you see this, if Nigeria cannot improve on its statistics, we cannot advance. From actual population to mundane things like how much fuel we consume, we continue to struggle, making it harder for policies to have the intended impacts.

When you run a nation with voodoo statistics like this, it is all guessing because there is no way you can succeed on anything. We all talk about Data as the new oil but one has to refine that new oil. In this case, Nigeria has not built the type of refineries required. That must change and the conclusion is clear: beyond oil refineries, Nigeria needs modern DATA refineries to anchor impactful and actionable policies.

Survey finds 47% of Investors expect Ethereum to ‘Surpass’ Bitcoin in Market Cap