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Home Blog Page 5699

Differentiating Between Criticism and Discouragement

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Most times, people think they are being “civilised” and/or “matured” when they are being “expressive”. They do not consider the consequences of their words when they speak or write because they believe they have “the right” to exercise their “freedom of speech”. Some use hurtful words on others unapologetically, thinking that is a sign of being honest, critical, and analytical. The internet and, especially, social media, have contributed their quota to the problem by giving many people the platform to use their voices without teaching them the proper way to do so. Today, social media has created a lot of “experts” with little knowledge and experience, who can now “challenge” the best of the professionals in any field. Even an undergraduate in Accountancy can teach a professor in Medical Laboratory Sciences his job. Thanks to the discovery of our “voices”.

Well, that shouldn’t be a problem because when a person of little knowledge “challenges” the submissions of an expert, it is left for the professional to condone it or handle it accordingly. It all depends on the persons involved. What we should be concerned about is when the person on the receiving end of the “criticism” is an amateur or an emerging professional, who could not handle the bite and oppression of the hit. We should truly worry about that.

You know, sometimes, people think they are criticising the works, ideas, opinions, submissions, or actions of others without realising that what they are doing is actually not criticism. I mean, I see a lot of ridicule, contempt, reproach, sarcasm, sneer, outright condemnation, and fault-finding being referred to as criticism. This does not only show that these people do not understand what they are doing but that they also failed to see that a lot of individuals have been damaged by their supposed “criticisms”. Many people with good ideas and potential are afraid to come out and project or present their ideas, views, and discoveries because of the “criticisms” they will attract. These people in question will prefer to stay in the background and observe situations than to come out and have stones thrown at them.

But is that what criticism should be all about? Isn’t it supposed to build rather than destroy the recipients? Should people be afraid of criticism to start with? Aren’t they supposed to cherish and look forward to it because of the knowledge and improvements they will obtain from it? These are some of the questions “critics” should ask themselves if they truly mean to criticise. But from what I have observed, many “critics” hide behind criticism to spew hate and some of them have the intention to discourage or undermine the efforts of others.

But, it is possible that many critics don’t know how to criticise. Maybe they don’t know that criticism requires that the critic strikes a balance between the good and bad attributes of the objects, ideas, or opinions of the attention. Maybe they thought that laughing at people to ridicule their efforts is how to criticise them. It could be they believed that when harsh words are used, even if they are derogatory, the persons receiving the “criticism” will know they, the recipients, have met the “right” persons, who will “call a spade a spade”. How I wished they knew better.

But here is the truth many people fail to realise:

If what you spew out focuses only on the negatives, then it is not criticism. If it is not correctional, it is not criticism. If it does not add to the existing knowledge, trust me, you are only witch-hunting the recipient. And if you are doing that to undermine or discourage the recipient for personal benefits, just know that you have added to the problems of humanity.

Let your criticism be fair, informed, and civil. It is not a battle of knowledge.

Visa to Acquire Swedish Fintech Tink for $2.2 Billion

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Visa Inc said on Thursday it had agreed a 1.8 billion euro ($2.2 billion) takeover of European open banking platform Tink, months after it ditched a planned acquisition of the startup’s U.S. rival Plaid, adding to the growing trend of acquisitions and partnership in the fintech industry.

Founded in 2012, Sweden-based Tink enables banks and other financial firms to share and access consumer financial data more easily. It is used by more than 3,400 banks and other institutions, as well as over 250 million customers in Europe.

Visa terminated a planned $5.3 billion deal with U.S. data-sharing platform Plaid in January, following a U.S. government lawsuit aimed at blocking the deal on antitrust grounds.

European Union rules on open banking require banks to allow access to customer data by registered third party providers to boost competition.

The rollout of the rules has provided fertile ground for fintechs, such as Tink, which provide technology to help third parties and banks to access customer data.

Some financial technology experts said the Tink acquisition could face antitrust concerns, similar to the failed Plaid deal.

“Europe is a very different open banking market to the USA,” said Simon Taylor, head of ventures and co-founder at fintech consultancy 11:FS. “But Tink is one of the largest players, and many of the concerns that led to the investigation into the Plaid-Visa deal may apply here.”

The deal is part of Visa’s push to diversify revenues beyond credit card payments, where it is one of the world’s dominant players. Card companies have been facing increased pressure from regulators on fees, especially in Europe.

Also Read | Visa moves to allow payment settlements using cryptocurrency

If completed, the transaction could mark another success for Sweden’s financial technology startup sector which has created several large companies over the past few years.

Buy now pay later company Klarna was valued at $46 billion in its latest fundraising round earlier this month, while Payments startup iZettle was acquired by PayPal Holdings Inc for $2.2 billion in 2018.

“With Tink and iZettle, Sweden has now produced two of Europe’s largest ever fintech M&A exits,” said Josh Bell, general partner at Dawn Capital, a venture capital firm who backed both firms.

The payment industry has become one of the fastest growing sectors, opening a huge market that has riled players, competing for huge shares, up. Among the leaders in the industry is Stripe, who in the last couple of months had expanded its payment territories globally, through partnership and acquisition of fintech startups, including Nigeria’s Paystack.

Visa’s move to acquire Tink underscores the competitiveness of the fintech market, and how the big names are flexing their financial muscle to stay ahead.

FUTO Alumni Congratulate Lockheed Martin’s Kingsley Fregene for Receiving “Control Engineering Practice Award”

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Let me join the world to congratulate my studentship mentor and senior in Federal University of Technology Owerri (FUTO),  Kingsley Fregene: “Lockheed Martin Missiles and Fire Control Chief Engineer Kingsley Fregene has joined the ranks of a select group of only 23 U.S. researchers recognized as pioneers in control practice.

“Kingsley was awarded the annual Control Engineering Practice Award by the American Automatic Control Council in late May 2021 for his work on autonomous control of unmanned vehicle systems in the early part of the last decade”.

Like I told FUTO students during the 2019 Commencement Speech that someone who studied in this very school is one of the best in the world. Some of us who attended FUTO in his generation know that Fregene is peerless.

Congratulations Fregene; FUTO, Nigeria and Africa congratulate.

2021 Tekedia Innovation Week “Growth Makers” Will Hold Nov 22-27, 2021

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The 2021 Tekedia Mini-MBA Innovation Week has been scheduled for Nov 22-27, 2021. The sub-theme is Growth Makers, and it is packaged within the Tekedia Mini-MBA theme of Innovation, Growth and Business Execution. All participants of Tekedia programs (mini-MBA, CollegeBoost, advanced diploma, etc) in 2021 qualify to attend free.

Meanwhile, we have opened registration for the next edition of Tekedia Mini-MBA (Sept 13- Dec 6, 2021). Register now to join the edition which will begin on Sept 13, and get many early benefits including attending Tekedia Career Week and Tekedia Innovation Week at no extra cost.

2021 Tekedia Career Week “Nurturing Innovators” Will Hold Oct 25-30, 2021

Ndubuisi Ekekwe To Keynote 2021 Nigeria Computer Society’ ISDE Conference

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It is always a privilege when your professors call you. The biggest one was when Federal University of Technology Owerri (FUTO) asked me to deliver the University Public Lecture, the zenith of any academic gathering. So, it was another moment when Nigeria Computer Society sent an invitation for me to deliver this year’s keynote speech. The theme is “Innovative Systems for Digital Economy”.

I plan to go very technical to inspire our young people. There is a project we are working on here in Silicon Valley in a startup I am serving as a technical design mentor. The young people are building systems that use less power, hoping to make “electronics” that last longer on a single charge.

To do that, they are building a new computational paradigm, mimicking human biology and synaptic plasticity in the construct of the event-driven asynchronous parallelism in the human central nervous system. If that happens, electronics like phones will run longer and we will use less energy: that is innovation for the future.

So, mark the date: Aug 3-5 2021. It would be a great talk.