A computer network is a set of computers connected together for the purpose of sharing resources. The most common resource shared today is a connection to the Internet. Other shared resources can include a printer or a file server. The Internet itself is considered a computer network. There are various types of network which are required […]
Quick Easy Wins for Nigerian Banks and Fintechs In 2018
In U.S., I have a largely limited use of WhatsApp but while in Africa, it has become indispensable. I mean messaging chat portals like WhatsApp and WeChat would have dominant roles in the future of financial services. Nigeria’s Kudi is playing a role there by making it possible for people to do payments through chat. […]
No Congratulations Yet – Glo Has Not Acquired 9Mobile
There are rumors everywhere that Glo has bought 9Mobile. Awesomely, some emailed me congratulating me for making the call in June 2017 that Glo would buy then Etisalat Nigeria. To my knowledge, Glo has not bought 9Mobile until it is public [I have included Glo’s official statement on this, read below]. Also, with the High Court ruling this week, for Spectrum Wireless against EMTS, the expected January 16 2018 unveiling of the new 9Mobile owner may not mean much. Yes, Spectrum Wireless can kill any deal with the court ruling. I am not sure any investor would transfer funds if a High Court struck down the new Board appointment few days earlier. This is not ending any time soon.
The nullification followed dismissal of the Preliminary Objection filed by United Capital Trustees Ltd in response to the application by Spectrum Wireless, a shareholder of EMTS [9Mobile parent]. Spectum’s application was for a nullification of the ex parte order by Justice Ibrahim Buba of the Federal High Court.
Spectrum had claimed that the order was obtained by misrepresentation of facts that alienated its interests in the EMTS.
The June 2017 Prediction of Glo Acquisition of 9Mobile
In this videocast, I make a case why Globacom, the operator of the Glo brand in Nigeria, will acquire Etisalat Nigeria, in 2017. Etisalat Nigeria is in a very challenging position to pay back about $1.2 billion loan to a consortium of banks. In the current market dynamics, with deteriorating ARPU (average revenue per user), it will be extremely difficult for the telecom company to meet that obligation. Glo has liquidity, relatively, and is owned by a respected businessman (Mike Adenuga) who can raise any capital required to close a deal. Glo needs to close its subscriber gap with MTN which enjoys more than 20 million extra subscribers. You may ask – why not MTN, Airtel or AMCON? Answers here.
Statement from Glo
A press statement issued in Lagos on Friday said: “Globacom has not acquired 9Mobile as widely reported in the media. …We are bound by the terms of the acquisition process as stipulated by the authorities handling it and we will not in any way sway or deviate from the rules. We repose confidence in Barclays Africa, the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) which are handling the process that will lead to the emergence of a new owner for the company. Globacom urges all stakeholders and, indeed, the Nigerian public to disregard the report.”
Bubbling Coins – Today’s ICOs are 1990s’ IPOs
After Kodak did the unthinkable by popping its stock more than 120% just for adding the word “coin” after “Kodak”, I do not need any czar to explain that it is around the corner: Bubble.
This is not my expertise: I do not trade stocks. I do not have time to study and analyze stocks. But right now, I do think that many bad things would happen in the next 24 months in the new ICO (initial coin offering) sub-sector of cryptocurrency. Though ICO bubble may not have the same level of impacts as the stock market crash (early 2000s) and Great Recession (2008), it would still be impactful. Why? They are not using cows and sands to buy the coins; they use euro and dollars.
Cryptocurrency may be fine but the ICOs are doomed. That you can create a virtual currency and ask people to give you real money while you allocate those virtual things is unbelievable. You can devalue that coin by creating more. And technically, it could be useless depending on how you wake up in the morning and what you plan to do. Yes, you are the absolute boss: the bank, the central bank and the securities regulator. Yet, people continue to believe ICO despite the obvious risks.
An unregulated means by which funds are raised for a new cryptocurrency venture. An Initial Coin Offering (ICO) is used by startups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, but usually for Bitcoin. (Investopedia)
This is a bubble coming – today’s ICOs are the IPOs of the 1990s. (In 1990s, companies raised easy money in the stock market with reckless abandon. Most collapsed in early 2000s). The ICOs would not end well. And as that happens, we would see some impacts in the real world. Sure, we would have more billionaires but most would ripple through. Oh yes, Ripple founder is now one of the richest people on earth.
Chris Larsen, the cofounder, executive chairman, and former CEO of the cryptocurrency company Ripple, became the world’s fifth wealthiest person as the price of Ripple’s XRP cryptocurrency soared past the $3 mark this week.
The recent price surge catapulted Larsen ahead of Googlecofounders Larry Page and Sergey Brin (nos. 8 and 10 respectively, excluding Larsen) in terms of personal net worth, according to data from Forbes’ billionaires list. The lift also gave him an edge over Oraclecofounder Larry Ellison (formerly no. 5).
The Ripple portfolio value has since receded, but the trajectory is still there. It is very crazy; people are losing their minds. And I ask: how can someone believe ICO?
2.3 – Authentication Techniques
Password In private and public computer networks, authentication is usually done with the use of login IDs (user names) and passwords. Knowledge of the login details is pretended to make sure that the user is authentic. Each user registers at first using a given or self-declared password. On each successive use, the user must know […]