DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 6479

The BIG Coward – Even Bitcoin Is Not Safe Before Coronavirus

0

The economic impact of COVID-19 has sailed through the shores of almost every country in the world, wreaking unprecedented havoc on markets globally. Over 6 trillion has reportedly vanished from stocks around  the world, creating an horror of uncertain future for the world economy. The World Health Organization (WHO), said the world should brace up for more cases as the disease keeps spreading to new countries in minutes.

There have been over 85,000 cases and counting, with the largest economies in the world (US and China), taking a big fall, and there is yet little hope for its containment. There have been over four new cases of the virus in the US in the last 24 hours, raising the alarm for a possible spread in the world leading economy which will do more harm to the already wrecked world economy.

California announced a second possible instance of community spread, Oregon and Washington States are on the radar also. As experts try to find a cure, the virus pushes through the walls of defense, crushing humans and businesses. Not even digital currency is spared. Bitcoin is down more than 10% since early this week, below $8,700 and far from its 2020 high of around $10,450 on Feb. 12. Now bitcoin is up only 22% for the year, after it had been up close to 50% just two weeks ago.

The other big wings in the cryptocurrency space are not spared either, among the three largest market-cap coins after bitcoin, either (ETH-USD) is down 15% in the past five days, ripple (XRP-USD) is down 14%, and bitcoin cash (BCH-USD) is down 17%. The turn of events in the digital currency market has prompted people to question if bitcoin is really a safe haven from economic crisis. The answer so far has been yes and no, especially when gold appears to be immune to the dwindling economic impacts stemming from coronavirus.

Frank Chapparo of Bitcoin news site, The Block said it is nascent and volatile: “This is still a very nascent, volatile asset class. If I’m an investor and I want predictability in my portfolio, I’m not going to be outsized allocating to bitcoin and other digital assets. Now, that doesn’t mean that this narrative of bitcoin being a hedge against global economic insecurity or political insecurity [is wrong]. That’s still something that could play out over the next ten, fifteen, twenty years,”he said.

One conclusion that many have come to terms with is that COVID-19 is such a powerful force that Bitcoin would totally resist it. The digital currency economy could not be immune to a virus taking such a crushing ride on the global economy. However, it offers uncommon hope to investors against global insecurity in the long run, even though the accurate predictability of the future outcome is not guaranteed.

BitGo co-founder, Ben Davenport provided an answer to the question of “Bitcoin’s haven” status that is neither here nor there. When the question was put out by Bloomberg Crypto on Twitter. Davenport responded, saying it’s neither a risk-on nor a risk-off asset right now.

As the COVID-19 onslaught continues, some of the biggest and most prominent bitcoin bulls are still bullish on the “safe haven” theory. Tyler Winklevoss on Wednesday night, as the price of bitcoin was sinking, tweeted: “At some point people will wake up and realize that bitcoin is the best safe haven asset the world has ever seen. Until then, opportunity abounds.”

Yes, “opportunity abounds” because compared with stock markets around the world, Bitcoin still offers security in times of economic crisis, though proving exactly not true to the “safe haven” narrative. It breeds concern to investors because, as a digital alternative to fiat, the coronavirus crisis is expected to be a boost to cryptocurrency.

The crunching crisis has however, failed to spur growth in the digital currency industry, putting the audacity of bitcoin and the others into serious questions. Bitcoin is often called “digital gold,” a phrase which is supposed to represent its resistance to conventional economic crisis, its failure to live up to that in the face of coronavirus scourge has cast doubts on the “safe haven” theory.

Blockchain – Business Growth and Disruptive Innovation

0

He is an eminent Blockchain Engineer in one of Canada’s top digital security companies. He builds technologies that help secure precious assets around the world. He is a master of the interface between business growth and innovation through the nexus of industry-shaping technology called blockchain. You can not really write of blockchain in Africa without him because he founded one of the earliest startups in the space here even as the beautiful Canada shows love. Uchi will take us into an excursion into blockchain and how that technology can help us create leverageable positioning on markets. The videos and materials go live 12 noon Lagos time, on Monday, at the Tekedia Mini-MBA digital board.

https://www.tekedia.com/dboard/

 

AI – Business Growth and Disruptive Innovation

0

She is an IT leader in one of the nation’s leading reinsurance corporations. And because IT does not just run modern organizations but also transform them, she is an agent of business transformation. On Monday, Toyin will lead us into the mechanics of business growth and disruptive innovation via artificial intelligence. I just finished watching the amazing videos. As a professional in this fledgling industry, members will see the stakes here and the reason why we cannot just relax; AI will change the ordinances in markets and as Toyin noted, being AI-ready is the future. It goes live 12 noon Lagos time, on Monday at the Tekedia Mini-MBA digital board.

 

https://www.tekedia.com/dboard/

 

Week 4 Session

10

Notes Tekedia mini-MBA monthly update is here – click to read. We updated the Written Material to fix a minor typo; it does not change the document. No need to re-download. We have added a video on monetization of software as some members emailed on the same. Check the Comment section for the differences between […]

This post is only available to members.

#WatchingtheVirusinNigeria: Containing COVID 19 through Strategic Communication and Information Management

0

It is been 24 hours since the news broke that the globally dreaded virus has entered Nigeria. It came through the most susceptible city in the country – Lagos, the commercial capital city of Nigeria. An Italian consultant was on a brief business trip. He fell sick and was discovered  to have been infected with the novel virus. He is being managed in a health facility in Lagos in a joint management arrangement  by the Federal Ministry of Health and Lagos State Government. Twenty eight people suspected to have had contact with the infected man are quarantined and being monitored.

Even though, tracking of names of possible contacts with the Italian who flew in from Milan has commenced, in a bid to stop the spread of the virus, there is an urgent need for strategic communication and information management of issues surrounding the disease so as not to give room for panic and possible outbreak of false information, rumours and misinformation which may be worse than the disease itself. While addressing foreign policy and security experts in Munich earlier in February, the Director General of the World Health Organization, Tedros Adhanom Ghebreyesus has expressed his concern on associated issues that are likely to colour efforts at curtailing the spread of the disease. He raised serious concerns on the incidence of fake news, rumours and panic- factors that he collectively described as “infodemics.”  The WHO Chief had asked “Can we come together to face a common and dangerous enemy? Or will we allow fear, suspicion and irrationality to distract and divide us?”  He concluded that “this is a time for facts, not fear. This is a time for rationality, not rumours. This is a time for solidarity, not stigma,”

While addressing news men in Abuja on Friday, few hours after the first case of the novel virus was discovered in the country, the Minister of Information and Culture, Lai Mohammed had also urged Nigerians not to panic as the government was well prepared to detect and curtail any incidence of the virus in the country. He warned against citizens falling prey to the antics of fake news distributors and rumour mongers saying “we know that at times like this, purveyors of fake news and disinformation usually ramp up their acts”. He hinted on the arrangement between the FG and Facebook on shutting out fake news and rumour mongers on the campaign.

It is established that trailing the fear of the outbreak of the disease is the issue of fake news, rumour mongering and disinformation. These could serve as more barriers and could worsen the situation beyond control leading to panic and stigmatization. This threat could have more profound impact on the fight against the novel virus if not checked.

Beyond the rhetorics, how well the  Nigerian agencies in charge of managing the beakout prepared to handle the information management in a professional and strategic manner would make or mar the campaign. What should be done urgently in communicating the fight against the COVID 19?  Here are some tips.

#Combat rumours and misinformation. The Federal Ministry of Health through the National Centre for Disease Control should lead this charge. They should popularize their verified social media handles and supply real time information on the virus as it emerges. There should also be a coordinated platform for communication among the 36 ministries of health across the states in Nigeria. To leave no room for rumours and misinformation, the agencies concerned must be above aboard in not leaving any information vacuum. A nationwide directive should be given to both public and privately owned radio and television stations to broadcast such updates from the NCDC. This should be translated into respective local languages of their areas live.This is a matter of national emergency and security.

#Regional approach to information dissemination. The dissemination of the information across the six states of the southwest should be regional. This could be achieved when commissioners for health across the states have a common platform where they exchange information about the disease. It is not only security that calls for synergy, this threat to the well being of the people should also be viewed as important so that the virus could be stopped before it wrecks havoc. Other regions such as the south east and the north  too should be prepared to go regional. Lagos is the gateway to the south. Already, the infected victim was said to have headed towards Ogun State. It is a matter of time before we see evidence of the novel virus in other states if regional emergency operations are not activated.

#Explore the Public-Private-People triad. The fight against the COVID 19 should explore a public-private-people triad. This simply means leveraging on public and private institutions to secure the buy in of the people for the messages of prevention and education. As it is, will the major GSM service providers to send out notifications and make unsolicited calls to their subscribers to deliver to them vital messages on protection, education and  numbers to call in case of emergencies and other necessary needs for the campaign. Is it impossible for other corporate bodies to assist the government stamp out false information, fake news and disinformation that evil minded people may want to explore? Can we have popular musicians, politicians and social media influencers take up the messages to save the nation from the dreaded disease to the people? People will know how serious this is when they see the presidential candidate of the People’s Democratic Party in the 2019 election, Alh. Atiku Abubakar float anti-Coronavirus messages to the people through short videos and podcasts in both English and Hausa languages. As it is, in the days ahead, every institution, government, for profit and not for profit organizations, political parties and others  should rise up against coronavirus with a view to containing its spread.

As the nation surges forward and makes efforts to block coronavirus from spreading further in the country, major institutions should rise to ensure the fight is devoid of fake news, rumours and misinformation. The onus lies on all to ensure a secured country from the rampaging virus.