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Musk Set to Unveil Different Colours of Verification Badges For Company And Government Accounts

By
Ojukwu Emmanuel
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0

Twitter CEO Elon Musk has disclosed plans to launch different colors of verification badges for company and government accounts on the micro-blogging platform.

Musk announced that government accounts will have a grey-colored verification badge, while company accounts will have a gold color verification badge, also noting that the blue-colored badge will still be used for individual accounts.

The Twitter CEO had earlier suspended the $8 payment for the ‘blue tick’ badge, which he disclosed was necessitated until there is high confidence of stopping impersonation.

He however disclosed that the launch of its verified service will hold next week Friday, noting that accounts on the platform will be easily distinguished by the colour of their badge.

He wrote on Twitter, “Sorry for the delay, we’re tentatively launching Verified on Friday next week.

“Gold check for companies, grey check for government, blue for individuals (celebrity or not) and all verified accounts will be manually authenticated before check activates. Painful but necessary”.

Musk stated that others would display a secondary tiny logo showing they belong to an organization if verified as such by that organization.

The paid blue tick verification badge on the platform was earlier free for some individuals who were popular personalities, and organisations. 

However, after Musk’s acquisition of the platform, in a bid to diversify the company’s source of revenue, he had to introduce the $8 payment fee for the verification badge.

Despite facing backlash over proposals to charge for the feature, Musk still went ahead with the plan.  He justified his plans to charge for the verification badge, by tweeting “we need to pay the bills somehow”, also adding that it was the only way to “defeat the bots and trolls”

In a Twitter thread, Musk said subscribers of the new Blue service would also get priority in replies, mentions and search. Users will also see half as many adverts and will be able to post long video and audio clips. No timing for the changes was announced.

The blue tick verification process was introduced on the platform in 2009, in a response to celebrity concerns about impersonation after it was slammed with a lawsuit for not doing enough to prevent the platform from imposters and parody accounts.

Use this Strategy, Price within this range, and Grow Your Business in Nigeria, Africa

By
Ndubuisi Ekekwe
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0

Yes, there is abundance in Africa. But unlocking that abundance is not automatic because we have not witnessed the rise of all (we’re just having the rise of few). To win in Africa, you must improve your pricing strategy. 

In any product I bring to the market, I put real efforts on pricing engineering to get things right. Our startups in Tekedia Capital also get that from me: no matter how great the products are, people must afford them before they can use them. Unlike America where shopping is part of entertainment (people buy things and after some months, they donate those items. Check, the tags have not been removed), in Africa, we are value-shoppers because free money is limited.

How do you price? You need to go back to this plot (above). It is called the Fortune at the middle of the pyramid:  “the most significant opportunity for African B2C startups lies with consumers who earn between $4 — $8 per day … This is largely because that income band holds the highest concentration of discretionary spending power on the continent, as the graph below shows.”

Strategic pricing does not mean giving things away, it means finding a way to have as many people as possible while capturing more value where possible. That is the playbook of sachetization – and we do a lot of it in Tekedia. In our school, we separated the costs of the main program, review of homework, review of projects, etc so that people can come in at their respective purse capacities. If you lump all together, you could price-out many learners. Put efforts on your #pricing!

The Core Market Segment in Africa – Middle of the Pyramid

Twitter to Reinstate Suspended Accounts from Next Week Under Musk’s Amnesty

By
Samuel Nwite
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0

Following his decision to lift the suspended account of Donald Trump through a poll, Elon Musk said he will now grant amnesty to all suspended Twitter accounts starting from next week.

Musk lifted Trump’s account last week following the “yes” result of a poll where he asked Twitter users whether the banned former US President should be reinstated.  On Wednesday, the billionaire, in a similar way, asked if amnesty should be granted to all suspended Twitter accounts.

On Thursday, Musk granted the wish of the majority of voters. More than 72% of voters voted “yes” to his question while a little over 27% voted “no.”

“The people have spoken. Amnesty begins next week. Vox Populi, Vox Dei. (voice of the people, voice of God),” Musk said in response.

However, the world richest man said only accounts that have not “broken the law or engaged in egregious spam” will enjoy the amnesty. But online safety experts said the move will spur a rise in harassment, hate speech and misinformation.

Musk’s controversial acquisition of Twitter brought a lot of changes to the social media platform. The Tesla CEO got into an early fracas with advertisers, who have decided to halt their Twitter patronage until they see where the platform is headed under Musk. He said late last month when he took over that that no suspended accounts would be reinstated until Twitter formed a “content moderation council” with diverse viewpoints that would consider the cases.

But several prominent accounts banned for breaking hate speech and misinformation rules, including far-right Rep. Marjorie Taylor Greene, which was banned in January for violating the platform’s COVID misinformation policies, have been reinstated since then.

Musk has justified the reinstatements as he tries to monetize Twitter Blue with the introduction of $8 fee for the verification check. He said on Tuesday he’s reneged on his promise to set up a diverse content moderation team because “a large coalition of political-social activists groups” broke the deal he had with them by urging advertisers to abandon Twitter.

Against this backdrop, the concern that Twitter under Musk’s leadership will eventually become the platform of hate speech and harassment, is growing.

Musk didn’t spare time in firing Twitter executives and eventually more than half of the company’s 7,000 workforce, which includes content moderating teams when he took over. Others, including Twitter’s head of trust and safety, Yoel Roth, have resigned due to lack of faith in Musk’s ability to keep Twitter from turning into a platform of chaos and uncontrolled speech.

The rest of Twitter’s employees are gradually being eliminated under Musk’s “extremely hardcore” work ultimatum.

Uptick in racist, anti-Semitic and other toxic speech has been reported on Twitter by the groups that monitor the platform for such ills, according to a report by AP. That has included a surge in racist abuse of World Cup soccer players that Twitter is allegedly failing to act on, the report said.

The concern is that reinstating suspended accounts will spur an avalanche of hateful contents on Twitter. But Musk is understood to be working to increase the number of users on the social media platform, a promise he made to shareholders when he was pushing to acquire Twitter.

Gno.land; Game of Realms Testnet Campaign to Launch in Q1 2023

By
Paul Ugbede Godwin
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0

The Gnolang (GNO) programming language and Gno.land are smart contract platform, Gno.land (pronounced no-land) is a layer 1 smart contract platform created by Jae Kwon, co-founder of Cosmos and Tendermint. It intends to address a lack of transparency, auditability, and fairness when it comes to rewarding contributors to the blockchain. Gno.land aims to appeal to web developers, dApp developers, and blockchain builders to create solutions that help people improve their understanding of the world.

Gno.land offers succinctness, composability, expressivity, and completeness not found in any other smart contract platform; “we aim to challenge the regime of information censorship that we find ourselves living in today”.

By using Gnolang, an interpreted version of the widely-used Golang (Go) language, they want to make it simple for developers (particularly existing web2 developers) to write smart contracts without having to learn a language limited by design or exclusive to a single ecosystem

For Web3 to grow in a sustainable way, we need technological solutions that are designed for the blockchain with programming languages that are universally adopted, secure, composable, and complete. The main programming language currently used for creating smart contracts, Solidity, is designed for one purpose only (writing smart contracts) and lacks the completeness of a general-purpose language.

Solidity, removes many of the complexities that blockchain programming requires (such as memory management, ensuring that the code is deterministic, and understanding how the entire tech stack is implemented) allowing developers to quickly build succinct smart contracts.

However, Solidity is only used for smart contracts on EVM-compatible blockchains (like Ethereum, Polygon, or EVMOS) and its design is limited by the limitations of the EVM. In addition, developers have to learn several languages if they want to understand the whole stack or work across different ecosystems.

Jae Kwon Said;

Gno is about 99% identical to GO, most people can code in Gno from day one, even minute one. The Gno.land programming environment comes with blockchain-specific standard libraries. Beyond object embedding, importing of modules, composability of programs, and interfaces that allow you to implement a specific set of functions, GO supports secure programming through exported/non-exported fields, enabling “least-authority” design reinforcing security

The composable nature of Go/Gno allows for type-checked interactions between contracts, making Gno.land safer and more powerful, as well as operationally cheaper and faster; smart contracts will be light, simple, more focused, and easily interoperable.

Beyond object embedding, closures, importing of modules, composability of programs, and interfaces that allow you to implement a specific set of functions, GO supports secure programming through exported/non-exported fields, enabling “least-authority” design. It is easy to create objects and APIs that expose only what should be accessible to callers while hiding what should not be simply by the capitalization of letters, thus allowing a succinct representation of secure logic that can be called by multiple users

Presently, Gno.land is the only blockchain instance in the world that supports Gno, but in the future there will be many chains with different names. Gno.land is the name of ONE chain and is not a name that will be used by other Gnolang-powered chains.

Utility of Gno.land

Managing cross-Gnolang-chain fees/licenses; To be the (or an) official home for the best smart contracts; To provide new models of governance (w/ DAO modules). There are four main ways to earn rewards through Proof of Contribution on the Gno.land chain which includes; Pre-defined tasks (technical or otherwise), Pre-defined bounties, Retroactive bounties and Vesting-style rewards for core members.

Gno.land is currently running its third testnet and there will be several more testnets before the platform is production ready. However, the next development, an incentivized testnet called ‘Game of Realms’, is scheduled for Q1 2023. Game of Realms will be similar to ‘Game of Stakes’ on the Cosmos Hub and will reward the earliest and best contributors.

Binance Walks The Talk on Industry Recovery Fund Proposal, Leads Charge With $1 billion Commitment

By
Ojukwu Emmanuel
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0

One of the world’s biggest cryptocurrency exchange platforms Binance has announced its commitment of $1 billion to aid struggling crypto platforms to stay afloat in the wake of FTX’s upheaval.

Binance further disclosed that it may likely increase the amount to $2 billion in the future if the need arises, as it is committed to reviving the dwindling crypto industry.

Binance CEO Changpeng “CZ” Zho while disclosing the company’s commitment, posted the link of its $1 billion support to the industry which he stated was done to promote transparency.

He wrote on his Twitter handle,

“We do this transparently.

“The public address for Binance’s initial commitment of BUSD 1 billion is: 0x043a80999cEe3711D372FB878768909fbE7F71E6”

He further disclosed that other participants’ addresses will be released over the next week.

So far, Polygon Ventures, Jump Crypto, Kronos, GSR, Animoca Brands, Brooker Group, and Aptos Labs have shown commitment with an initial aggregate commitment of around USD 50 million, as more participants are still expected.

With a responsibility to lead the charge in the protection of consumers’ interests and rebuilding the industry, Binance announced that the Industry Recovery Initiative (IRI) is a new co-investment opportunity for organizations eager to support the future of Web3, which will also permit struggling cryptocurrency companies to request financial support.

Binance stated that it has already received 150 support applications from various companies in need, noting that the program is expected to last for six months. It further disclosed that those who contributed funds that remained unused will be able to withdraw those funds at the end of the initiative.

Binance specified that the initiative was not an investment fund, drawing a distinction between the initiative and Binance Labs the company’s VC arm that it uses to invest in new startups.

Aside from funding support, Binance plans to provide founders and projects with comprehensive support, from formation, technical execution, fundraising, and more so that they can emerge and grow stronger from the crypto winter. 

Recall that Binance last week had announced the setting up of an ‘Industry Recovery Fund’ following the collapse of FTX which shook the crypto industry and also led to a crypto liquidity crisis.

In a bid to reduce further cascading negative effects of FTX collapse, Binance announced that it was forming an industry recovery fund, to help projects who are otherwise strong but in a liquidity crisis

The FTX which has already filed for bankruptcy is currently under investigation by a group of agencies, including the U.S. Justice Department and the Securities and Exchange Commission.

Due to its collapse, the cryptocurrency market has come under pressure over the last two weeks as it has remained on the edge because crypto investors are unclear about how the FTX saga will end, whether there will be further contagion across the industry.

Ever since reaching astronomical highs in November 2022, cryptocurrencies have been on the downfall, with Bitcoin going from $69,000 to around $18-20 thousand.

Bitcoin (BTC) withdrawals have hit a record rate of 106,000 monthly, indicating that customers may be losing trust in third-party services.

With Binance Industry recovery fund initiative, the crypto exchange platform has no doubt positioned itself as a big brother in the industry, as it seeks to protect other platforms from the risk of bankruptcy, as well as protect investors’ interests by filling the void created by FTX.

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