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How things may be changing in domains under ICANNs authority, and not for the better.

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Way back in 2014, ICANN said the Internet domain name for a country doesn’t belong to that country— well maybe that dynamic, driven by ICANN themselves may change….

‘Plaintiffs who successfully sued Iran, Syria and North Korea as sponsors of terrorism want to seize the three countries’ ccTLDs (country code top-level domains) as part of financial judgments against them. (ICANN), The Internet Corporation for Assigned Names and Numbers, which oversees the Internet, says they can’t do that because ccTLDs aren’t even property’ – reported PC World in 2014.

Though… back then when IT magazines were still ‘a big thing’, pretty much all of the relevant publications of the day carried the story – Computer World, and IT World just to name two more.

Now, it seems things may be about to turn on their heads.

ICANN and Verisign – the company with commercial rights over the first ever domain TLDs (Top Level Domains) – ‘.com’ and ‘.net’ –  have new proposals that are at consultation stage which poses serious public safety, property security, and ethical problems.

Last week on Freespeech George Kirikos raises these serious concerns.

He also eludes that the policy recommendation, if adopted may not stop at .com and .net but may eventually extend to all domains in ICANN authority.

Kirikos argues – ‘Either by design, or unintentionally, they’ve proposed allowing any government in the world to cancel, redirect, or transfer to their control applicable domain names! This is an outrageous and dangerous proposal that must be stopped. While this proposal is currently only for .NET domain names, presumably they would want to also apply it to other extensions like .COM as those contracts come up for renewal.’

“Any government” means what it says, so that means China, Russia, Iran, Turkey,  the Pitcairn Islands, Tuvalu, the State of Texas, the State of California, the City of Detroit,  a village of 100 people with a local council in Botswana, or literally “any government” whether it be state, local, or national. We’re talking about countless numbers of “governments” in the world (you’d have to add up all the cities, towns, states, provinces and nations, for starers). If that wasn’t bad enough, their proposal adds “any administrative authority” and “any government authority” (i.e.  government bureaucrats in any jurisdiction in the world) that would be empowered to “deny, cancel, redirect or transfer” domain names.  [The new text about “court of competent jurisdiction” is also problematic, as it would  override determinations that would be made by registrars via the agreements that domain name registrants have with their registrars.]

‘This proposal represents a complete government takeover of domain names, with no due process protections for registrants. It would usurp the role of registrars, making governments go directly to Verisign (or any other registry that adopts similar language) to achieve anything they desired. It literally overturns more than two decades of global domain name policy.’

This makes a great case for Web 3 Domains.

Web 3 Domains offers a blockchain as the ‘DNS root’ instead of a centralized organisation such as ICANN.

This means that nobody (in theory) can shut them down… Why do I say ‘in theory’?

Well, the thing is, all of the products that companies go around ‘calling’ Web 3 Domains aren’t exactly that.

Since Ethereum went PoS (Proof of Stake), miners are replaced with validators, and those that become stake holders are commercial infrastructural investors, all of which can be tracked and traced by authorities such as the US SEC.

It gets even worse, when commercial entities start building off  them with what are known as L2s or sidechains.

The reason why L2s are faster and more scalable than the Ethereum itself, is because most of the key is kept off chain in the corporate environment, and only a small bit of meta data makes it to the Eth core.

But if the company that owns the sidechain gets hacked, goes bankrupt, gets into licencing trouble with SEC, and a host of other potential problems then any assets funnelled through that company or with keys being managed by them… they will be lost.

It’s the NFA (Non Fungible Asset) version of the old Crypto adage – “Not Your Keys, Not Your Coins” – err, Domains.

Once it’s possible for any central authority to ‘require’ the ecosystem to conform, how can it be considered decentralized? And if it isn’t decentralized, how can it be considered Web 3 enabling?

Tokenized, i.e. minted domains have a long way to go in building out into communication systems and this is mostly down to the lack of straight-out-of-the-box interoperability with legacy infrastructures, significantly, Google Chrome and Google Search.

ICANN domains have been in existence since the last millennium, and technologies like Google have grown up around them.

While all these new technologies will eventually become ubiquitous, it’s pretty slow moving. Meanwhile if they can’t exhibit true Web 3, i.e. complete decentralization, they are really no less centralized than an ICANN domain and without full interoperability with ‘legacy’ systems – it’s hard to see the value proposition.

 

 

Domains off L2s of Ethereum have all of the drawbacks of being early in tokenized technology and all of the drawbacks of an ICANN domain as well.

No full decentralization (No Web3) + No backward compatibility = No point!

Thankfully, 9ja Cosmos operates off Handshake, which is a fully decentralized, PoW (Proof of Work) blockchain, completely independent, and not owned by anybody. It is modelled on Bitcoin.

In addition to .9jacom and .9javerse SLDs, 9ja Cosmos can sell TOP LEVEL DOMAINS!

Back to the Kirikos article, and the good thing is that it’s a public consultation, so at least for now, there is opportunity to have voices heard at https://www.icann.org/en/public-comment/proceeding/proposed-renewal-of-the-registry-agreement-for-net-13-04-2023.

There is full transparency and they have published two email addresses, globalsupport@icann.org, and   karla.hakansson@icann.org at which to receive queries.

So if the decisions that happen later don’t align with your beliefs, but you didn’t engage, then don’t complain later!

The consultation closes in 28 days.

 

9ja Cosmos is here…

Get your .9jacom and .9javerse Web 3 domains  for $2 at:

.9jacom Domains

.9javerse Domains

All reference sites accessed between 28/04/2023

namepros.com/threads/red-alert-icann-and-verisign-proposal-would-allow-any-government-in-the-world-to-seize-domain-names.1300241/

freespeech.com/2023/04/19/red-alert-icann-and-verisign-proposal-would-allow-any-government-in-the-world-to-seize-domain-names/

computerworld.com/article/2697118/countries-don-t-own-their-internet-domains–icann-says.html

icann.org/en/public-comment/proceeding/proposed-renewal-of-the-registry-agreement-for-net-13-04-2023

pcworld.com/article/440588/countries-dont-own-their-internet-domains-icann-says.html

www2.cio.com.au/article/print/551289/countries_don_t_own_their_internet_domains_icann_says

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Clubhouse Announces Plans to Layoff 50% of Its Employees as It Restructures Platform

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Social audio app Clubhouse has announced plans to lay off 50 percent of its employees as it restructures the platform.

The company’s co-founders Paul Davison and Rohan Seth disclosed via a memo to employees that the layoff was necessitated to reset the company following a post-covid era.

The memo reads in part,

Today we announced that we’re scaling back our organization by over 50% and saying goodbye to many talented, dedicated teammates in the process. We’re deeply sorry to be doing this, and we would not be making this change if we didn’t feel it was absolutely necessary.

“If you are among those impacted, you will receive a calendar invite to a 1:1 meeting with a manager in your department within the next 10 minutes. In the meantime, we wanted to provide everyone with more context about why we made this decision and how we will be supporting the individuals who are departing.

To fix this we need to reset the company, eliminate roles and take it down to a smaller, product-focused team. We arrived at this conclusion reluctantly, as we have years of runway remaining and do not feel immediate pressure to reduce costs. But we believe that a smaller team will give us focus and speed, and help us launch the next evolution of the product.”

The co-founders disclosed that as the world has opened up post-Covid, it has become harder for many people to find their friends on Clubhouse and to fit long conversations into their daily lives. Hence, to find its role in the current realities of today’s world, the product needs to evolve which requires a period of change.

Laid-off employees will receive severance pay as they will be paid salaries for the rest of April, plus 4 months of additional severance. This means everyone affected will receive their full salary until Aug 31, 2023.

Also, every laid-off employee will be allowed to keep their company-issued laptops, to help them research and apply for new roles. Unlike several tech companies that have downsized their workforce due to the recent economic downturn, Clubhouse did not cite any economic crisis while announcing layoffs. Instead, the company is responding to complexities that arose from overturning during the covid era

It is worth noting that Clubhouse first emerged as an invite-only app during the covid-19 pandemic lockdown in 2020. During this period the platform witnessed a surge in downloads as people were looking for ways to link up with friends.

Unfortunately, following the post-covid era, the app has been struggling to stay relevant. In a bid to evolve and adapt to the post-covid era, the app launched a feature called “Houses” last year August, which is a dedicated chat space where users can make new friends through their existing friend groups in a more intimate setting.

HedgeUp (HDUP) Disrupts the Crypto Industry and Could Outperform Leaders Like Polygon (MATIC) and Chainlink (LINK)

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Cryptocurrency moves at a pace that very few industries can match. It’s a hub of innovation that sees disruptive projects launched regularly. HedgeUp (HDUP) is the latest disruptor to come out of the space.

Although still in its early stages, the decentralized finance (DeFi) project has shown enough potential to outperform even the industry’s leaders like Polygon (MATIC) and Chainlink (LINK).

> Buy HedgeUp Now <<

HedgeUp (HDUP)’s revolutionary utility token

The project’s token HDUP is bringing a new level of utility to the crypto industry. And this has got people talking. Polygon (MATIC) was a groundbreaking achievement for Layer 2 blockchains, and Chainlink (LINK) has established itself as the go-to oracle and data project. Each project revolutionized its segment, and now it’s time for HedgeUp (HDUP) to do the same thing with NFTs and their real-world applications.

HDUP will be used on HedgeUp (HDUP)’s one-of-a-kind Web3 investment platform. This platform allows investors to buy and sell alternative assets as NFTs with HDUP functioning as its internal currency.

HedgeUp (HDUP) holders will use the token to bid for NFTs, pay for the purchase, and pay the trading fees. Buying assets with tokens isn’t a new thing in Web3. What is new, however, is what you can buy with HDUP on the trading platform.

The HedgeUp (HDUP) team says that the NFTs on their marketplace are backed by real alternative assets like gold, whiskey, diamonds, watches, and more. So, when you buy an NFT, you’re essentially investing in the underlying asset.

Through this token, the team hopes to empower the adoption of alternative assets within the Web3 scene. HDUP will also play other roles within HedgeUp (HDUP)’s ecosystem.

For one, holders will enjoy exclusive access to online classes where they learn investment strategies. They will also receive discounts on certain services and fees and get first access to any new products launched by the projects. Furthermore, there will be staking events that provide opportunities to earn extra rewards.

These are just the general benefits. The HedgeUp (HDUP) team says they have a tiered packaged offering based on the level of investment. In total, there are three tiers.

Tier 1 is the most basic and Tier 2 is a little more comprehensive. Tier 3 offers the most benefits. Each has limited spaces that can only be filled by buying HDUP tokens.

Investors can purchase HDUP tokens at the HedgeUp(HDUP) presale for only $0.013. Note that this is a limited-time offer as the price will be increased when the presale proceeds to the next stage.

> Buy HedgeUp Now <<

Will HedgeUp (HDUP) outperform Polygon (MATIC) and Chainlink (LINK)?

HedgeUp (HDUP) has generated a lot of buzz in the crypto world. There are even those that see it outperforming Polygon (MATIC) and Chainlink (LINK) in 2023.

These claims are not without substance. Polygon (MATIC) and Chainlink (LINK) do have some utility within their native ecosystems. But, theirs is largely limited to what is expected of any token in any ecosystem – paying for fees and governance.

It is nowhere near as revolutionary as what HDUP has to offer. Therefore, key indicators show that HedgeUp (HDUP) is well positioned to outperform them in the next bull run.

Polygon (MATIC’) is currently trading at $0.991 after losing 4.45% in the past seven days while Chainlink (LINK) goes for $7.02 after losing 4.6% in the same period. While these are undoubtedly blue chip projects within the crypto ecosystem, this also means they most likely won’t see the strong price movements that newer projects such as HedgeUp (HDUP) may see.

 

Click the links below to find out more about the HedgeUp (HDUP) presale here:

Twitter: https://twitter.com/HedgeUpOfficial

Website: https://hedgeup.io/

Presale: https://app.hedgeup.io/sign-up

Telegram: https://t.me/HedgeUpChat

No Matter The Vision, Work for Someone First, Before Starting Your Own Company in Nigeria

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Entrepreneurship is hot. It is exciting. Many want to be entrepreneurs immediately upon graduation from schools. I have a word for you: NO. Yes, you are not likely to thrive in Nigeria if you start any business immediately upon graduation. Besides capabilities, you need to learn, build networks and test the waters to find your navigation path.

While you can hire people as you grow a business, it is very likely you would do most things at the beginning. So, it makes sense to learn how to do some of those things while working for another person.

Entrepreneurship is a high intensity call – it is not a vacation. If you decide the school-CEO path, in Nigeria, you will likely run a “small business” and not a “startup”. But no matter what, good luck even as I tell you to search for a job and learn how things work before you become the boss! Yes, work for someone and get a decent level of experience before you open that shop!

Of course, that does not mean that you cannot move from a college dorm straight to running your own business. Possibly, some might have done it in Nigeria. Yet, life is largely a statistics – there are more successful business people who worked for others than those who jumped into the Founder/CEO role immediately upon graduation.

Comment on Feed

Comment 1: Thanks for this insight, Prof Ekekwe. This your view is consistent with your earlier evaluation of the success of Igbo Apprenticeship System(IAS) otherwise known as stakeholder capitalism in your groundbreaking article in HBR. Speaking of IAS as fertile ground for Founder/CEO training, I imagine that the system could provide entrepreneurial immersive experience for our young graduates going into business in Nigeria. Not every student will land a job in oil industry or Broad street (the usual suspects and every graduate’s dream) upon graduation, and such experience could easily prepare these outliers as future job creators than job seekers, thereby mitigating the mounting and scary underemployment and unemployment ratio in Nigeria. This experience is even crucial because Nigerian formal sector is not formal. Successful managers often combine practical training with patience and some street smartness, which IAS provides in abundance. My point is that time has come to make IAS module a requirement in our schools all the way from high school to graduate level bridge the gap. I need to go back and read that article again, lol.

My Response: The principle works in religion, trading, and all domains of business. You cannot run a church on day one. Most times, someone has to pastor you before you break out,.

In Adversity, Accelerate: Lessons from the Life of Joseph

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It is said, when your intentions are clean and your approach is fair, your enemies and your battles shall be your greatest resources and the cornerstone of your elevation. This word (and rule) of life had been perfected before the creation of men, its actors and subjects.

For every law there is a reversal law; for every principle, there is a lower or higher principle; for every motion, there is an opposing motion or reaction, etc. This is a universal dialectic though it it has different naming in different climes.

Stability is the center of life; it is the state of balance between acceleration and friction. The counteraction of these two forces keeps us at the center of life and prevents the world from losing its bearing and center of gravity.

The life of Joseph present a great lesson. Joseph needed more than beauty and the gift of vision to become a king. He needed frictions to unleash and enliven his capacity for acceleration. So he was plotted against by his brothers who snared him out of his comfort zone and father’s protection and sold him into slavery and servitude in Egypt. In Egypt, Joseph suffered another scheme and betrayal from the wife of his master which got him into prison.

However, it transpired that all of these experiences were the stepping stones Joseph needed to reach his destination. His turning point came when he interpreted the dream of his fellow inmate who rose to become the King’s cupbearer.

As a destined divine ruler and arbitrator, Joseph needed to experience hatred to understand the importance of love, he needed to understand evil to be able to contrast it to virtue and holiness.

The rule of life did not just play out in Joseph’s life, he used to his advantage. Even when he recognized that his enemies have been brought back to his course, he never succumbed to the urge of seeking revenge. That is sweet wisdom that could only have come from bitter experiences.

What is that friction you are experiencing today in your life, home, business, work, and relationships?

Providence is never rash. The mills of God grind slowly but it grinds exceedingly small. Never lose hope in trying periods. It is a time to intensify your acceleration and let providence takes its course. In adversity, rather than constantly fantasizing about a happy ending, deal with the situation and embrace the moment with alacrity.