#DESO: @nader Explains how Blockchain powers the new social media platform (Video)

 DESO means "Decentralized social media"

BitClout now to be known as DeSO: An announcement that sets the coin on fire as a DeSO is now over $100

The latest announcement about the BitClout had it that the blockchain powering BitClout, and the over 100 apps building on top of it (bithunt.com/explore), will now be known as the DeSo blockchain.

DeSO is an acronym for "decentralized social." According to @DiamondHands in a statement on his profile on BitClout.

Since the announcement, in less 24hours, it has been a boom upward trending for the coin. Indeed it has been a Big day, aBig news for the BitClout community on the DeSo chain.

Creator Coins have also been gaining as the DeSo clamb new record trading price both on the BitClout and on Blockchain.com and it's exchange. We always had faith a developer focussed fund would be a smart decision over the long term. 

Read the Full announcement by @DiamondHands: 
BitClout family, today is a very big day for the project. Perhaps the biggest day since we launched in March.

Today, several critical things are happening:

* The blockchain powering BitClout, and the over 100 apps building on top of it (bithunt.com/explore), will now be known as the DeSo blockchain, short for "decentralized social." Check out deso.org!

* We are creating a non-profit called the DeSo foundation that will support the blockchain, and further a broad mission of decentralizing social media.

* The foundation will use a $200 million treasury raised from Sequoia, Social Capital, Andreessen Horowitz, and many others to support its mission. There is also a strategy to support everybody from developers, to NFT artists, to smaller creators and their coins, and we're very excited to announce all of those plans very soon.

Why are we doing this?


For over two years, I've been working on the blockchain that powers BitClout. It's the only blockchain that can scale social apps to one billion users because it's custom-built for this use-case.


This blockchain is the same one that powers the over 100 apps listed on bithunt.com/explore, and it's really something special. But until now, the blockchain didn't have a name, and most people who used these apps didn't even know it existed!


There is an amazing story here about the technology we're developing behind the scenes, so we felt it's time to separate the blockchain out into its own entity and give it its own name: DeSo, short for "decentralized social."


So, from now on, the blockchain that powers BitClout and all the other apps in the ecosystem will be known as the DeSo blockchain. And apps like BitClout will be referred to as "powered by DeSo."


DeSo is a blockchain, BitClout is one of over 100 apps *built on that blockchain.*


Now, with DeSo as its own separate brand, we can speak more directly to the developers that are so critical to growing the decentralized social movement we've started here together.


Developers can also feel more comfortable building on DeSo, knowing that they're getting access to the exact same data and API's that BitClout is getting.


BitClout is now no different and no more special than Pulse, Flick, Polygram, or any of the other amazing projects building on DeSo.


Importantly, nothing changes for users of any apps, except that we're going to call the underlying currency $DESO instead of $CLOUT. The supply is still fixed at ~10.8 million like it was before, and if you had X CLOUT before, you have X DESO now. We're just renaming to distinguish DeSo the blockchain from BitClout the app.


We felt renaming the currency was important to further reinforce that "BitClout the app" is not the same as "DeSo the blockchain."


In addition to this, it has always been our top priority to put a public and transparent support structure in place for the ecosystem, but we were concerned that setting up a formal structure too early would compromise decentralization by creating too much reliance on a single entity.


Now that the DeSo blockchain is running on thousands of nodes, and there are over a hundred projects building on the blockchain, we feel comfortable setting up an entity to formally and officially support the decentralized social ecosystem.


The DeSo Foundation is a non-profit, and it will be using a $200 million treasury raised from some of the top investors in the world to support the DeSo ecosystem.


Expect some big announcements about how we're going to use this treasury very soon!




There is also ..... One more thing....


As you all know, I've been working on this project anonymously for some time now. And during this time we've all achieved so much together, and made so many memories in the process.


But now, as we look to take BitClout, DeSo, and the ecosystem of apps built on it to the next level, we need a public figure that the mainstream can look to for guidance. Someone who can share our vision with the public at a much broader scale than what I'm capable of as a pseudonymous figure. And so, with both excitement and a heavy heart, it's time to pass the torch.




Today, I'm proud to announce that @nader will be your guide through phase 2 of our journey. I hope you'll give him a warm welcome, and that you'll have as much fun with him as I had with you all.


Going forward, @nader will be responsible for leading both the development of the DeSo blockchain, as head of the DeSo Foundation, and the development of the BitClout app.


Announcements about the platform will come from him going forward, and you should all be hearing from him very soon.


Really, it's crazy how much we've all achieved together. And even though our family has only been together for six months, it feels like I've known you all my whole life.


I'll still be around here and there, and even though my time as your leader is over, the journey is just beginning. It's a new era for this project, just don't forget why we're all here:


docs.deso.org


Just like the Bitcoin, DeSO developers remained anonymous.

Credit: @DiamondHands and @LetestNewsPlus 

Update on BITCLOUT: You can buy CLOUT with ETH and MetaMask on any BitClout node!

Today, for the first time, you can buy CLOUT with ETH and MetaMask on any BitClout node!

Until now, it's been hard for members of the ETH community to embrace BitClout because we didn't support their native currency.

This change opens BitClout up to 5M+ MetaMask users, opens it up to the #1 most active NFT community, and opens it up to ~$400 billion in ETH market cap that can now be a part of the ecosystem with just a few clicks.

If you know anyone in the ETH community be sure to let them know, and let's give them all a warm welcome!

Credit:  @Diamondhands

ABOKI FX: Tell the CBN that it is hard to fight "THE INVISIBLE HAND" - OmoAdéyemo A Adéwálé

Tell the CBN that it is hard to fight "THE INVISIBLE HAND," as Adam Smith postulated.

Market participants are all pursuing goals in their best interests. If they were to eliminate AbokiFX, which is impossible, they can't eliminate thousands of sophisticated currency speculators, particularly those who make big money from SHORTING a currency.

And it's all LEGAL. If you are scapegoating AbokiFX, then you don't understand the FOREX MARKET.

Those who are SHORTING the NAIRA live in both Nigeria, particularly bankers (CBN officials, too, albeit surreptitiously) and local traders/dealers, and outside Nigeria.

It's the statutory duty of the apex bank to mitigate these risks; however, with its sole reliance on a volatile oil market, which supports its forex management (i.e., external reserves and clearing), some of these things are beyond its control.

"The INVISIBLE HAND" will always find a way to make money.

Think of George Soros, who made $1.5 billion by speculating the crash of pounds during the Black Wednesday.

Right now, there are hedge funds, located in New York, Tokyo, Brussels and London, SHORTING nearly every currency in the world, hoping to make significant profits. Do these traders lose money? Yes! Do they make money, too? Yes, big time!

It's a complex market.

No matter what the CBN does, it can't eliminate all the risks.

#KEEPTAKINGAFFIRMATIVESTEPS

#WORLDPEOPLEUNIVERSITY

OmoAdéyemo A Adéwálé

NIGERIA: VAT AS A CATALYST FOR RESTRUCTURING

A few weeks before he was removed from office, the then Emir of Kano, Muhammadu Sanusi, warned leaders in the North that if they do not change their policies and ways so that the region can begin to harness its huge resources, the day will come when their southern counterparts will drive demands for change that will create more problems for it. Hear him -

“If the north does not change, the north will destroy itself. If we don’t listen, there would be a day when there would be a constitutional amendment that addresses these issues of quota system and federal character. The  rest of the country cannot be investing, educating its children, producing graduates and then they watch us, they can’t get jobs because they come from the wrong state, when we have not invested in the future of our own children.”

Well, that day is here. The frustrated words that have often been mouthed on the streets of the South are now finding voice in the law making chambers and courts of law. Make no mistake, the decision of the Rivers State High Court over the issue of VAT collections and administration enjoys wide support across the South. Many know that it will create problems for their own States too but they are all for it. Why? Anything to cut the umbilical cord of what is considered an overbearing and inequitable federal system that robs Peter to pay Paul. 

That our States have become cost centers rather than development centers invites no argument anymore. Most exist for patronage and nothing more. 33 of 36 make little impact on VAT collection, for example, yet get paid for literally doing nothing. The same is true for the much touted GDP growth - all driven by economic activities in a small pocket of  States. Such a situation will inevitably breed disaffection that will drive division and disunity. 

How do we make more States viable? Drive competition, drive innovation, drive cooperation, and drive self-reliance. When a Yobe State knows that there’s no monthly federal bailout fund (that’s basically what the monthly federal allocation is) to rely on, it will begin to apply policies that will grow its own local economy and hunan resources. States should compete for talents (Lagos literally vacuums up most of them at the moment) through better living conditions. Investing in education and learning (especially in the North) will yield beneficial results and the end of the inequitable “educationally disadvantaged States” nonsense. A thinking Governor should have no problem identifying comparative advantages and build on them. There’s so much that is possible if we can all let go this feeding bottle system that inhibits growth and development.

It may be that the change that Nigeria needs, the change that will alter the dynamics of federal and state relationship so that the States become more self-reliant and resourceful, will begin to happen through the courts rather than through the legislature. The VAT ruling may see to that.

We wait and see!

RE - "HOW NIGERIANS ARE BEING TACTICALLY DENIGERIANISED" BY AZUKA ONWUKA OF THE PUNCH - THE POINT HE MISSED, THE POINT WE MISS

By Kola Ayeye

In the 10th Aug edition of The Punch, Azuka Onwuka lamented the tragedy that has befallen Nigeria and Nigerians in such elegant prose. Nigeria he pointed out perhaps had the largest contingent of nationals representing and winning medals for other countries. Nigerians, deNigerianised as economic refugees from decades of wanton mismanagement, donned the colours of other countries winning medals which Nigeria didn't. He gave several examples.

It was a well-researched elegant piece of journalism. I would have been celebrating this piece but for an undertone, more than a passing emphasis, on the fact that all these athletes were Southerners. He wrote "Curiously, all the Nigerians competing for other countries are from South of Nigeria. This also plays out in other spheres of life: medicine, nursing, teaching, soldiering, policing etc.... What has become clear is that Nigerians, especially from the South, are desperately eager to flee from Nigeria to other continents. Even the fear of death is not a deterrent. They seem to feel that it is better to die trying to leave Nigeria than die living in Nigeria".

This is my point of departure with Azuka. We should be careful not to paint a picture that the Northern masses either enjoy this status quo or are indifferent to it. Not true. They are not. The large majority do not. Limited by poorer education, poorer economics and much more limited socialisation, emigration to other continents is not an option, it is not in their world view. Their USA and Canada and Europe and Asia is in Lagos, Port-Harcourt, Enugu and other cities of the South as Maiguards, cobblers, hewers of wood and drawers of water, Mairuwa. They are as much victims of Nigeria as their Southern compatriots. Perhaps worse. Nigeria's per capita income is a meagre $2,300. More than 100m Nigerians live below the poverty line. If we do a regional disaggregation of these numbers, the three Southern Regions and the Middle Belt will be far better than the North West and North East.

The political elite of both the South and the North, in cahoot with a thin business elite who feed off patronage masquerading as entrepreneurs, have worsted the Northern and Southern masses, "deNigerianising" us. The Southern masses flee abroad. The Northern masses flee to the South, or are radicalised out of ignorance to join Boko Haram, or to join banditry.

The greatest failure is that of the professionals, the graduates, the fairly educated, that cadre struggling to survive in the South, Middle Belt and Far North. It is on us the duty has fallen to organise, finance, and create an alternative grassroots political movement to oust this thin political cum business elite that has savaged our commonwealth and deNigerianised our Nigerianness. We have a duty to do it along with the struggle for survival. And here we have failed miserably since 1999 and continue to fail. We have focused solely on personal survival and completely ignored individual and collective action for change.

The Northern masses are victims as well, maybe even worse.

I'm praying and working for the emergence of the famed but elusive 3rd Force, a people's alternative to APC and PDP. We all need to participate. The Fourth Estate of the Realm led by exemplars like Azuka should fully deploy their media to stir this failed inert class from its slumber to do its duty of providing a path that can oust the ravaging locusts in Abuja and every State capital, and provide the people an option to follow.



Kola Ayeye

(Kola Ayeye is the pastor in charge of Friends of God fellowship, the publishers of this page)

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NIGERIA: WILL UNIVERSITIES BE NEEDED IN THE NEXT 15 YEARS?

The Federal Executive Council recently approved more universities, and established more Polytechnics and  Colleges of Education while Tesla, Apple, Google, Netflix and some multinationals announced that effective 2021, university degree will not be required for hiring. 

Google is also developing a new suit called Google career certificates which is intended to help young people get qualifications and skills for high paying jobs without university degree. The suits is tailored for the millennials to learn in-demand skills online in 6 months and will be globally recognized as equivalent of a traditional university degree.

The question is, in the next 15 years, will certificates be required for most jobs of the century? 

2.0 ARE CERTIFICATES OVERRATED IN NIGERIA?

University degree is highly overrated in Nigeria and I have resolved that I will make attending university optional for my children. I will rather counsel them to acquire globally in-demand skills and certifications.

Anyone that wants to panticipate in global jobs of the future must learn computing skills, data analysis and fluency in at least 2 international languages. High paying jobs will likely be in cybersecurity, business development and sales, robotics, computing and programming, data analysis, automobile, creative arts, football, tennis, basketball and similar skills. 

For young  Nigerian entrepreneurs that want to  have a startup, there will be future opportunities in logistics, food value chain, blockchain technology, Fintech, tourism and hospitality, transport and clothing. 

3.0 WHAT SHOULD NIGERIA DO?

Our university curriculum is obsolete, we teach no skills and the laboratories are 19th century. You can't use 19th century solution to solve 21st century problems.

The world is a global village and we must follow the global trend to be global citizens. We must also change our curriculum and improve teaching of computer skills in the universities. 

 Today’s children are born with their devices and more sophisticated than the previous generations. I advise our millennials to work ahead of our curriculum and prepare themselves to be global citizens.

shikenan.

He that has ear to hear, let him listen to the future.

By: Anonymous

Defender-In-Chief: Major General Muhammadu Buhari's Statement in defense of Minister of Communication and Digital Economy

The Nigerian Presidency has shown support for the embattled Communications Minister, Isa Ali Pantami hours after meeting Northern Nigerian Governors in Abuja.

Buhari led Presidency has been known for defending the corrupt elements of the regime but has always been failing in defending the lives of the citizenry in the hand of the criminal Boko Haram terrorists and Bandits who have been profiting from the ransom paid by the government and individuals.

Read the presidency statement defending Pantami:

STATEMENT BY THE PRESIDENCY ON RECENT CAMPAIGN AGAINST THE MINISTER OF COMMUNICATIONS AND DIGITAL ECONOMY 

Today, there is an unfortunate fashion in public discourse that makes leaders in politics, religion, and civil society liable in the present for every statement they have ever made in the past – no matter how long ago, and even after they have later rejected them. 

This insidious phenomenon seeks to cancel the careers of others on the  basis of a thing they have said, regardless of when they said it.

 

Pantami

The Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami is, currently, subject to a “cancel campaign” instigated by those who seek his removal. They do not really care what he may or may not have said some 20 years ago: that is merely the instrument they are using to attempt to “cancel” him. But they will profit should he be stopped from making decisions that improve the lives of everyday Nigerians.

 

The Minister has, rightly, apologized for what he said in the early 2000s. The views were absolutely unacceptable then, and would be equally unacceptable today, were he to repeat them. But he will not repeat them – for he has publicly and permanently condemned his earlier utterances as wrong.

 

In the 2000s, the Minister was a man in his twenties; next year he will be 50. Time has passed, and people and their opinions – often rightly – change.

But all discerning Nigerians know this manufactured dispute is nothing to do with the Minister’s prior words, but solely concern his actions in the present.

 

This Administration is committed to improving the lives of all Nigerians – and that includes ensuring they are not over-charged or under-protected for those services on which modern life depends.

The Minister has been leading the charge against illegal data deductions and pricing; he has revolutionized the government’s virtual public engagement to respond to COVID-19 and save taxpayers’ money; he has established ICT start-up centres to boost youth entrepreneurship and create jobs; he has changed policy to ensure locally produced ICT content is used by ministries, starting with his own; and he has deregistered some 9.2 million SIMs - ending the ability for criminals and terrorists to flagrantly use mobile networks undetected. In two short years, Minister Pantami has driven the contribution of the ICT sector to the GDP to more than 18 percent, making it one of the top two playing a critical role in the emergence of the economy from the COVID 19-induced recession.

In putting people first, the Minister and this administration have made enemies. There are those in the opposition who see success and want it halted by any means. And there is now well-reported information that alleges newspaper editors rebuffed an attempt to financially induce them to run a smear campaign against the minister by some ICT companies, many of which do indeed stand to lose financially through lower prices and greater consumer protections. The government is now investigating the veracity behind these claims of attempted inducement, and – should they be found to hold credence – police and judicial action must be expected.

The Administration stands behind Minister Pantami and all Nigerian citizens to ensure they receive fair treatment, fair prices, and fair protection in ICT services. 

Garba Shehu

Senior Special Assistant to the President

(Media & Publicity)

April 22, 2021

Cold War Continues as Washington declares China's Huawei threat to national security

The United States' Federal Communications Commission (FCC) has deemed Chinese telecom giant Huawei a threat to American national security, maintaining pressure on Beijing that some believed could ease under the new Biden administration.

According to the announcement made Friday by the FCC, the Huawei as well as four other Chinese companies, pose “an unacceptable risk to US national security or the security and safety of US persons.”

Jessica Rosenworcel who is the incumbent FCC’s acting chief said that the move would help “restore trust” in US communications networks. 

Rosenworcel did not explain what specific actions would be taken against the Chinese companies while Huawei has not yet responded to the designation.

The decision comes just a day after Bloomberg reported that the Biden administration issued new restrictions on Huawei, preventing US firms from supplying the Chinese telecom with products that can be used in 5G devices. 

American businesses had previously been allowed to supply Huawei with components, provided that they sought permission from the US government. 

Beijing slammed the new rule as “unreasonable suppression” aimed at Chinese companies, and accused Washington of “violating the principles of market economy and fair competition.”

Huawei’s designation as a national security threat matches the hardline policy implemented by the preceding administration under Donald Trump. 

In June, the FCC blacklisted the firm as a danger to US interests, blocking American firms from using an $8.3 billion government fund to purchase equipment from companies. Huawei filed a legal challenge against the designation last month.

The Chinese tech giant had expressed hope that the new administration would take a different approach to trade issues. 

Victor Zhang, the company’s vice president, said in an interview in November that the attacks on Huawei were politically motivated and part of a “trade war” between the US and China, adding that Washington’s tune might change once Biden takes office.

As it launched a tariff war against Beijing, the Trump administration pressured Washington’s allies to reject business with Huawei and avoid using Chinese technology as they develop their 5G networks.

 Both the Chinese government and Huawei have repeatedly denied that the firm poses a threat to the US or any other nation. 

The economic war and confrontations between the two most developed economies has been the major  indices before the emergency of COVID-19 Pandemic in 2019.

Source

2021 Global Economic Prospects projects 4% growth, with vaccine rollout key

Nigeria Attains 82.7m Broadband Subscriptions – Danbatta

Subscriptions to broadband or high-speed Internet services in Nigeria have increased significantly to a peak of 82.7 million as at the end of August, 2020, according to the Nigerian Communications Commission.

The Executive Vice Chairman of the Commission, Prof. Umar Garba Danbatta, disclosed this while speaking at a two-day first virtual Nigeria Innovation Summit (NIS) 2020 organised by InnovationHub Africa, which started on Tuesday, September 5, 2020.

The Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim Pantami, who presented the keynote speech at the Summit, noted that Nigeria’s quest to become a truly digital economy is on course with the launch of the National Digital Economy Policy and Strategy (NDEPS) in November 2019.

At the summit, with the theme: ‘Innovating in Critical Times’, Danbatta said the Commission has increased broadband penetration from less than 6 percent in 2015 to 43.30 percent by August 2020.

This, according to him, translates to 82, 653,247 broadband subscriptions in the country.

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Represented by the Director, Public Affairs, NCC, Dr. Ikechukwu Adinde at the virtual conference, Danbatta said Information and Communications Technology (ICT) and, more specifically, broadband infrastructure has become the major backbone for government activities and local businesses.

He said that such services require fast broadband and reliable connectivity, noting that NCC will continue to work assiduously with its stakeholders in ensuring that the nation’s ICT infrastructure is able to meet the increased demand for connectivity occasioned by the pandemic.

NIGERIA: Become A VTU Owner, Make Money Per Seconds

“The NCC has been the major linkage in the drive for optimum economic development, as it remains the pioneer for all the major disruptions that would drive the nation’s economic reboot, especially the financial systems riding on electronic innovations. These innovations are driven by the availability of a robust communications infrastructure made possible by the Commission’s continuous quest for investment in the sector,” he said.

He further stated that for innovation to thrive, as the anchor for accelerating economic growth post COVID-19, a robust broadband infrastructure upon which ICT innovations will ride is a necessity.

“The most important outcome of COVID-19 for us, as a nation striving for digital economy, is the need to continue to invest in infrastructure development in critical sectors of the economy, particularly the ICT sector, which has become the bastion of modern economies,” he said.

He restated the NCC’s commitment to taking proactive steps toward stimulating investment needed to support a more robust and resilient broadband infrastructure that will spur digital innovations in the country.

Source: NCC

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