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Interrogating Omokri’s Thesis on Bridging the Skill Gaps in Nigeria

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As usual with him, Mr. Reno Omokri has thrown another jab at the Nigerian University System. This time around, his target was the Nigerian educational system. He handpicked some courses and condemned them as useless because, according to him, those courses do not offer any skills or employment value after graduation. He charged:

Instead of spending four years reading a course like sociology, philosophy, anthropology, political science, library science and so on at university! Just go and learn a high income skill like nursing, cloud computing, blockchain engineering, artificial intelligence, web design, coding, programming, ethical hacking, and analytics! Between six and eighteen months. You will earn more in a lifetime than most university graduates. The world has changed. Many university courses have expired. They belong in a museum. Maybe a few people can read them to preserve some knowledge, But when you have hundreds of thousands studying them at degree level, they will never find real life applicable jobs for those degrees. And they and their courses end up being a drain on society. Get a skill instead of a semi-useless degree! And stop looking for loopholes. Those courses are dead and gone. They are like aerial cameramen. You cannot streamline an aerial cameraperson to compete with a drone. Accept reality and make better educational choices, and stop putting good money behind lost causes. Truth is bitter, but better!

This outburst had gone viral and sparked the usual conversation around how unemployable Nigerian graduates are and the need to change the downward movement of values accorded to Nigerian tertiary education certificates. Sadly, his thesis is partially and bitterly true. What is true is the fact that those courses are not really equipping students with the in demand job skills, both soft and hard, and especially digital skills to make them relevant to the reality of the workplace and society today. However, it is equally truer that the courses he mentioned are not the only ones in trouble. Almost all the courses offered in Nigerian universities except for few are in this category. From Mass Communication to Computer Science to Economics, the story remains the same.

What is not true is that the courses are useless or dead. It is the way they are being taught or floated in Nigerian universities that has made them appear so.   For example, I checked the Department of Sociology at Harvard University, what I saw amazed me. The welcome page shows an understanding of the reality of the present era. The opening reads:

The Department of Sociology at Harvard has a rich and varied history. Its faculty are deeply committed to the development of sociological theory in the service of addressing fundamental sociological questions about the empirical world. The Harvard department of the 21st century is characterized by unsurpassed methodological breadth and depth, with faculty and students engaged in a variety of approaches to research including surveys, ethnography, in-depth interviews, big data, social demography, causal inference, and historical archival work. Deep engagement with central social issues in the American landscape such as racial inequality, gender discrimination, violence, and mass incarceration is coupled with expertise in political, economic, and social and cultural issues in other parts of the world such as Latin America, Asia, and Europe. We invite you to explore sociology at Harvard.

I also visited the Oxford University’s Department of Philosophy’s web page. I marveled at what the university has made of philosophy, a course that Omokri pronounced completely dead in Nigeria. Oxford combined philosophy as a subject with other relevant subject matters. So, if you want to study Philosophy at Oxford, you have a range of options to select from: Computer Science and Philosophy; Mathematics and Philosophy; Philosophy and Modern Languages; Philosophy, Politics and Economics; Philosophy and Theology; Physics and Philosophy as well as Psychology, Philosophy and Linguistics.

If these two universities are considered to be in the global North and are leading global institutions, what of the Department of Politics Studies in the University of Witswaterstrand. On the page, I was particularly impressed by the claim of the department that:

The study of politics has traditionally been concerned with the relations between the state and its subjects. While these remain important, the scope of political studies has broadened to include: Associations such as business corporations; Development; Gender;Identity politics;Political parties; Power relations; Public Policy; Social movements; Trade unions and labour relations”

What my voyage to these three universities confirms is the fact that the courses listed in Omokri’s career advice are neither dead nor useless. The Nigerian universities have to change the mode, curriculum and the focus of these courses. There is an urgent need to deliver these courses in such a manner that the graduates would be equipped with skills that solve societal problems. The Nigerian University System has to find a way to manage the pool of talents on the campuses in order to stop the barrage of criticism of the Nigerian graduates are not employable. There is a list of other urgent reforms that should take place to make Nigerian universities more productive and impactful in educating the students of today.

Creative Implementation of the new CCMAS

The Core Curriculum Minimum Academic Standards (CCMAS) is the new curriculum that universities in Nigeria should kick-start its operations in the 2023/2024 academic session. This new document has come to gradually replace the old Benchmark for Minimum Academic Standards (BMAS). The curriculum has a number of new features for university education in Nigeria. It has expanded the number of faculties run by the universities from 14 to 17 with the unbundling of 3 courses to make them faculties. Apart from this, the new curriculum also changes the architecture of entrepreneurship with the introduction of innovation and ventures management as well as stipulating contemporary employability skills for each faculty and department. So, it is a new dawn for the Nigerian education system. However, it is important to understand that the curriculum is just a document. We have seen its richness in content, but its success and impact is dependent on how well it is implemented. Therefore, the operators of the Nigerian universities have to find a way to creatively implement the curriculum to address the current gaps.  The challenge now is how to teach innovation and venture management to spark change. How do teachers, who are the final implementers of the curriculum, teach the courses to reflect the current employability skills as captured?

Adopt a New Approach to Entrepreneurship

For keen and concerned observers, the current entrepreneurship curriculum taught in the Nigerian University System is not reflective of the needs of the country. In the words of Prof. Lukman Raheem, a professor of Entrepreneurship, the Nigerian University System runs an entrpreneusrhip programme that is generally called Subsistence Venture Creation. According to the scholar of entrepreneurship, subsistence venture creation is “the development of entrepreneurs who primarily focus on meeting their basic needs and those of their families. Their main goal is to generate enough income to sustain their livelihoods selling Indomie Noodles and Puff-Puff, and they often operate in traditional or low-growth sectors.” On the other hand, the NUS should run a Productive High-Impact Entrepreneurship programme which aims to create innovative and scalable businesses that have a substantial impact on the economy and society. High-impact entrepreneurs often seek to address major market gaps or societal challenges and are driven by growth and expansion.

Create an Innovation Hub to Support the Startup Ecosystem

Nigerian universities should realize the importance of an innovation hub on their campuses.  Described as a physical space that brings together researchers, creators, and innovators to nurture ideas into industry-changing products and services, a well-run innovation hub on a campus would provide a platform for both researchers, students, creators and innovators to ideate, incubate, develop and accelerate their ideas.  While some universities could run their hubs on their own, others could partner with innovation companies like Opolo Global Innovation Limited with hubs in universities across Nigeria. Almost all the government agencies are talking about innovation hubs now. From the Ministry of Science, Innovation and Technology to TETFUND, the focus now is a hub. When the amount of talents that abound on the Nigerian campuses, untapped, are taken into consideration, having an innovation hub on campus is the way to go. As a matter of fact, it would support the implementation of the innovation and venture management component of the new CCMAS.

Allow Industry Experts to be Part of the Teaching Faculty

To address the industry rustiness of students graduating from Nigerian universities, making experts from the industry facilitators would a game changer. This move would expose the students to industry practices and make them industry ready. It would also make industry professionals part of the teaching. This would improve learning and address the classroom-workplace gap.

Huawei Mate 60 Pro Winning Chinese Markets for Huawei Over Apple iPhone

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When a bird leaves the ground and perches on the ant-hill, it is still very much on the ground. Yes, that Huawei has overtaken Apple in China, on Android, is more of the same: America’s technologies remain catalytic in Huawei’s roadmap since Android* is American.

I see this as a win for Google’s Alphabet than Huawei: “A recent report by Jefferies analysts has revealed that Huawei has dethroned Apple’s iPhone from its position as the smartphone market share leader in China. According to the analysts, it reports that smartphone sales in China have shown positive growth year-over-year driven by high double-digit growth in Android sales led by Huawei, but Apple’s iPhone has seen a significant double-digit decline.”

Of course, you cannot take away the exuberance which Huawei Mate 60 Pro is bringing with its satellite capabilities. It does make it clear that if Apple iPhone should be considered a category-king, its next major update must have satellite features. And when that happens, a new era of smartphone usage will begin. Yes, terrestrial telcos will lose local comparative advantages, and the real best will then win.

Huawei on the power of Mate 60 Pro will capture a lot of market share from Apple iPhone in China, over the next few years, if Apple does not respond fast enough.

Things happen but you would not have expected that Huawei could come back within years, to be put in the same bucket as Apple, considering that it was on ground zero about two years ago. Yes, Huawei Mate 60 Pro is now seen as a generation leading smartphone for some remarkable breakthroughs it has inside it: “Huawei’s chip breakthrough poses new threat to Apple in China”, CNBC wrote.

Legally, you are correct. But technically, HarmonyOS runs on AOSP (Android Open Source Project) components. You can remove that A to decide if HarmonyOS will exist without Android! Yes, you can decide if there would be HarmonyOS without AOSP!

Comment on my last post on Huawei: How is Huawei using AOSP (Android Open Source Project)  a win for Alphabet (Google parent) when the technology is not licensed to Huawei? Google is not counting activation licenses of Huawei Mate 60 phones and other Huawei brands. You need to understand the difference between Android and AOSP as well.

My Response: Microsoft intentionally made its Windows to be breakable as China was adopting Linux at scale. By making it easy to clone, Chinese then avoided Linux and went with the “free” Windows. A few more years later, Microsoft asked the Chinese to pay $1 to get the real deal. Chinese users did, and Linux went to the museum for personal computing. Today, China is a Windows nation, not a Linux one when it comes to personal computing. Google* benefits because AOSP is a scion which keeps the Android brand alive in China despite sanctions. Sanctions will go one day and Android will evolve.

Manta Pacific to migrate from Optimism to Polygon, as Squad raises $5.7M in Seed Funding

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Manta Pacific, a leading decentralized exchange (DEX) for privacy-preserving tokens, has announced that it will migrate from Optimism to Polygon tech as its preferred zkEVM Layer 2 solution. This decision comes after a careful evaluation of the trade-offs between different scaling options for Ethereum.

Manta Pacific’s vision is to enable users to trade any ERC-20 token with full privacy and security, without compromising on speed or cost. To achieve this, Manta Pacific leverages zero-knowledge proofs (ZKPs), a cryptographic technique that allows users to prove the validity of their transactions without revealing any sensitive information.

However, ZKPs are computationally intensive and require a lot of gas on Ethereum, which makes them impractical for mass adoption. That’s why Manta Pacific chose to deploy its DEX on Optimism, a Layer 2 solution that uses optimistic rollups to reduce the load on the main chain and lower the fees.

Optimism is one of the most popular and promising Layer 2 solutions for Ethereum, but it also has some limitations. One of them is that it does not support arbitrary smart contracts, which means that Manta Pacific cannot implement its full range of features and functionalities on Optimism. Another one is that it relies on a centralized sequencer to order transactions, which introduces some degree of trust and potential censorship.

That’s why Manta Pacific decided to switch to Polygon tech, a Layer 2 solution that uses zkEVM, a novel approach that combines ZKPs and EVM compatibility. zkEVM allows any smart contract written in Solidity to run on Polygon tech with minimal changes, while also benefiting from the scalability and privacy advantages of ZKPs. Polygon tech claims to offer up to 100x lower gas fees and sub-second finality compared to Ethereum.

By migrating to Polygon tech, Manta Pacific hopes to offer its users a better experience and more features, such as cross-chain swaps, liquidity mining, governance, and more. Manta Pacific also believes that Polygon tech aligns better with its vision of decentralization and censorship-resistance, as it does not rely on any trusted third parties or intermediaries.

Manta Pacific plans to complete the migration by the end of Q4 2023 and will provide more details and instructions for its users in the coming weeks. Manta Pacific thanks its community for their support and feedback, and invites them to join the discussion on Discord, Twitter, and Medium.

Solana-based multisig protocol Squads raises $5.7 million.

Squads, a Solana-based multisig protocol that enables teams to manage their crypto assets securely and collaboratively, has announced that it has raised $5.7 million in a seed round led by Multicoin Capital. Other investors include Solana Foundation, Jump Capital, CMS Holdings, and DeFi Alliance.

Squads is a novel solution that leverages the speed and scalability of Solana to provide a seamless user experience for multisig transactions. Unlike traditional multisig wallets that require multiple signatures from different devices or accounts, Squads allows users to create and join teams with shared access to a single wallet. Teams can set custom rules and policies for their wallet, such as quorum size, spending limits, and whitelisted addresses. Squads also integrates with popular Solana applications, such as Serum, Raydium, and Phantom, to enable teams to interact with the Solana ecosystem without compromising security or convenience.

Squads aims to democratize access to crypto assets and empower teams to collaborate on their financial goals. Whether it is a DAO, a fund, a startup, or a family, Squads provides a simple and intuitive way to manage crypto assets as a team. Squads also plans to expand its functionality and support more use cases in the future, such as governance, treasury management, and NFT creation and distribution.

The seed round will help Squads grow its team, develop its product, and launch its mainnet in Q1 2022. Squads also intends to use the funds to foster community engagement and education, as well as to explore partnerships and integrations with other projects in the Solana ecosystem.

Squads is currently in beta testing and invites interested users to sign up for early access on its website. Squads also welcomes feedback and suggestions from the Solana community and invites potential collaborators to reach out via Discord or Twitter.

Crypto Funds recorded net inflows for third consecutive week led by Bitcoin

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The cryptocurrency market has been showing signs of recovery in the past few weeks, as investors have been pouring more money into various digital assets. According to a recent report by CoinShares, a leading provider of digital asset investment products, crypto funds recorded net inflows for the third consecutive week led by Bitcoin.

The report, which tracks the weekly flows and holdings of crypto funds across the globe, revealed that crypto funds saw inflows of $108 million in the week ending October 13, 2023. This marks the third week in a row that crypto funds have attracted more capital than they have lost, reversing the trend of net outflows that dominated the market from May to August.

The majority of the inflows went to Bitcoin, which accounted for $85 million or 79% of the total. Bitcoin has been outperforming other major cryptocurrencies in recent weeks, as it has regained some of its market dominance and reached new highs for the year. The report noted that Bitcoin’s strong performance was driven by several factors, including the launch of the first Bitcoin futures exchange-traded fund (ETF) in the US, the adoption of Bitcoin as legal tender in El Salvador, and the growing institutional and retail demand for the leading cryptocurrency.

Other crypto assets also saw positive inflows, albeit at a smaller scale. Ethereum, the second-largest cryptocurrency by market capitalization, attracted $15 million or 14% of the total inflows. Ethereum has been benefiting from the ongoing development of its network upgrade, known as Ethereum 2.0, which aims to improve its scalability, security, and efficiency. The report also highlighted that Ethereum’s popularity among decentralized applications (DApps) and decentralized finance (DeFi) platforms has been increasing, as evidenced by its high transaction volume and fees.

The remaining inflows were distributed among other crypto assets, such as Solana, Cardano, Polkadot, and Ripple. These altcoins have been gaining traction among investors who are looking for more innovation and diversity in the crypto space. The report stated that these altcoins have been offering different value propositions and use cases than Bitcoin and Ethereum, such as faster transaction speed, lower fees, interoperability, and smart contract functionality.

The report concluded that the crypto market is showing signs of maturity and resilience, as it has weathered several challenges and uncertainties in 2023. The report also suggested that the crypto market is likely to see more growth and innovation in the future, as more investors and institutions embrace digital assets as a new asset class.

Cathie Wood says it’s Gensler who’s ‘standing in the way’ of spot bitcoin ETFs.

Cathie Wood, the founder and CEO of Ark Invest, has recently expressed her frustration with the U.S. Securities and Exchange Commission (SEC) for delaying the approval of spot bitcoin exchange-traded funds (ETFs). In an interview with CNBC, Wood said that she believes the SEC chair Gary Gensler is “standing in the way” of innovation and investor choice by imposing strict regulations on crypto products.

Wood argued that spot bitcoin ETFs, which would track the price of the underlying asset directly, are more transparent and efficient than futures-based ETFs, which rely on contracts that expire and roll over periodically. She said that futures-based ETFs introduce additional costs and risks for investors, such as contango, backwardation, and margin calls. She also pointed out that spot bitcoin ETFs are already available in other countries, such as Canada and Brazil, and that the U.S. is lagging behind in this space.

Wood said that she is hopeful that the SEC will eventually approve spot bitcoin ETFs, but that it may take a long time and a lot of pressure from the industry and the public. She said that she is confident that bitcoin is here to stay and that it will continue to grow in adoption and value. She said that her firm is bullish on bitcoin and other cryptocurrencies, and that they have allocated a significant portion of their portfolio to this sector.

Wood also commented on the recent volatility in the crypto market, which saw bitcoin drop below $40,000 after reaching an all-time high of over $69,000 in November. She said that she is not worried about the short-term fluctuations, and that she views them as buying opportunities. She said that she expects bitcoin to reach $500,000 in the next five years, and that she is optimistic about the future of decentralized finance (DeFi), non-fungible tokens (NFTs), and Web 3.0.

opBNB AI platform MyShell raises funds at $57M Valuation

MyShell, an AI platform that leverages opBNB technology to provide personalized travel recommendations, has announced that it has raised $57 million in a Series A funding round led by Sequoia Capital. The round also saw participation from existing investors Y Combinator, Andreessen Horowitz, and Benchmark.

The startup, which was founded in 2021 by former Google engineers, claims to have over 10 million users across 50 countries. MyShell uses opBNB, a decentralized protocol that enables peer-to-peer data sharing and collaboration, to access and analyze millions of travel reviews, ratings, and preferences. Based on this data, MyShell generates customized suggestions for travelers, such as the best hotels, restaurants, attractions, and activities in their destination.

MyShell’s CEO and co-founder, said that the new funding will help the company expand its global presence and improve its product offerings. “We are thrilled to partner with Sequoia Capital, who share our vision of creating a more personalized and seamless travel experience for everyone. With their support, we will be able to scale our platform, grow our team, and launch new features that will make travel planning easier and more enjoyable.”

Sequoia Capital’s partner said that he was impressed by MyShell’s innovative use of opBNB technology and its strong growth potential. “MyShell is a pioneer in the AI travel space, leveraging opBNB’s unique capabilities to deliver tailored recommendations that match each traveler’s preferences and needs. We believe that MyShell has the potential to become a leading player in the travel industry, and we are excited to help them achieve their goals.”

Kraken steers clear of FOMO with largest ad campaign to date.

Kraken, one of the leading cryptocurrency exchanges in the world, has launched its biggest advertising campaign ever, aiming to educate and inspire potential investors about the benefits of digital assets. The campaign, titled “Kraken: The Future is Yours”, features a series of billboards, bus wraps, digital ads, podcasts, and social media posts that showcase the diverse and innovative ways that people can use cryptocurrencies to achieve their financial goals.

The campaign is designed to appeal to both newcomers and experienced traders, highlighting the features and advantages of Kraken’s platform, such as low fees, high security, 24/7 customer support, and a wide range of products and services. The campaign also emphasizes the vision and values of Kraken, which is to empower individuals and communities to take control of their financial future and to create a more inclusive and sustainable economy.

Kraken’s Chief Marketing Officer, Jeremy Welch, said that the campaign was motivated by the growing interest and demand for cryptocurrencies, especially among younger generations. “We are witnessing a generational shift in the way that people think about money and value.

More and more people are realizing that cryptocurrencies are not only a viable alternative to traditional fiat currencies, but also a powerful tool for social change and innovation. We want to inspire and educate these people about the possibilities and opportunities that Kraken can offer them,” he said.

Welch added that the campaign was not driven by fear of missing out (FOMO), but rather by a genuine desire to share the benefits of cryptocurrencies with the world. “We are not trying to capitalize on the hype or the volatility of the market. We are not trying to persuade people to buy or sell any specific coin or token. We are simply trying to show them that there is a better way to manage their money and to participate in the global economy. We are trying to show them that the future is theirs,” he said.

The campaign will run until the end of the year in several major cities across the US, Canada, Europe, and Australia. Kraken hopes that the campaign will not only attract new customers to its platform, but also spark a wider conversation about the role and potential of cryptocurrencies in society.

Nigerian Court Convicts P2P Crypto Trader Accused of Operating a Pig Butchering Scam

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A Nigerian court recently convicted and fined a peer-to-peer (P2P) crypto trader accused of running a pig butchering scam. According to the Economic and Financial Crimes Commission, the crypto trader’s activities were “contrary to and punishable under the Cybercrimes (Prohibition etc.) Act, 2015.”

A Nigerian court recently convicted a peer-to-peer cryptocurrency trader accused by authorities of committing a “computer related fraud.” In his ruling, Justice Nicholas Oweibo of the Federal High Court ruled that Lawrence Karinate was accused of using a fake identity and a fake bank account to lure investors into his P2P crypto platform, promising them high returns on their investments.

However, instead of using the funds to trade cryptocurrencies, he allegedly used them to buy pigs from local farmers, butcher them, and sell their meat to various markets in Lagos. The court heard that the trader made over 100 million naira ($240,000) from the scam, which he used to fund his lavish lifestyle.

“That you, Success Lawrence Karinate, sometime in 2023, within the jurisdiction of this Honorable Court, with intent to defraud, fraudulently held out yourself on social media platforms, as a female, bearing the name ‘Jessie Randall’, a fashion influencer, to unsuspecting members of the public, with intent to gain advantage for yourself and you thereby committed an offence, contrary to and punishable under Section 22(2)(b) of the Cybercrimes (Prohibition etc.) Act, 2015.”

He was arrested by the Economic and Financial Crimes Commission (EFCC) in February 2021, after some of his victims reported him to the authorities. The court sentenced him to 10 years in prison and ordered him to refund the money he stole from his investors. The judge also warned the public to be wary of online platforms that offer unrealistic returns on investments, especially those that involve cryptocurrencies, which are largely unregulated in Nigeria.

Karinate, who pleaded guilty to the charge, was arrested by EFCC operatives in the Lekki area of Lagos State. At the time of his arrest, the operatives recovered a mobile phone which the crypto trader used to perpetrate the scam.

Ethereum validator queues drop to record lows.

One of the most anticipated events in the crypto space this year is the launch of Ethereum 2.0, the upgrade that will transition the network from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) one. This means that instead of relying on miners to secure the network and validate transactions, Ethereum will use validators who stake their ETH tokens and run nodes to perform these functions.

However, becoming a validator is not as easy as it sounds. It requires a minimum of 32 ETH (around $120,000 at current prices) to be locked in a smart contract, as well as running a node that is online and synced with the network at all times. Moreover, there is a waiting period before a validator can start earning rewards or exit the network, which depends on the number of validators in the queue.

According to data from Beaconcha.in, an Ethereum 2.0 explorer, the validator queue has dropped to record lows in recent days, reaching as low as 1.5 days on October 15. This means that new validators can join the network and start earning rewards in less than two days, compared to over 20 days in August.

This is a positive sign for Ethereum 2.0, as it indicates that more people are willing to stake their ETH and support the network’s security and decentralization. It also shows that the network is able to process more validators per epoch (a period of 6.4 minutes), thanks to the recent optimizations and upgrades implemented by the developers.

The validator queue is expected to fluctuate depending on the demand and supply of validators, as well as the network’s performance and stability. However, as Ethereum 2.0 progresses and more features are rolled out, such as sharding and the merge with Ethereum 1.0, the incentives and opportunities for validators will likely increase, attracting more participants and enhancing the network’s value proposition.