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Monday, 07 November 2022

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Good morning!

Dennis here,

At the tail end of his presidency, with the naira in freefall and young Nigerians fleeing in droves, Muhammadu Buhari now seems to be desperately trying to salvage his legacy, rolling out half-baked policies catered to young Nigerians.

Finally, he signed the Startup Bill into law last month. In September, the administration announced a partnership with Binance to create a virtual free zone, and now 30,000 Nigerians will be trained on "blockchain technology," courtesy NITDA.

Of course, I applaud the training. Even if blockchain is not as game-changing as enthusiasts claim it will be in the near future, Nigerians, 30,000 of them would have learnt how it works.

But it's a bit funny for an administration that has worked tirelessly to break the backbone of the rising crypto industry, indeed seeking to outlaw it completely for months, to change its tune drastically and become its advocate, isn't it?

Below are the tech stories and news you need to know to start your day, carefully curated by Technext.
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Summary of the news

  • Elon Musk has shut down Twitter's new West African office
  • New reports show that Dogecoin has made major profits this year
  • NITDA has announced a scholarship for 30,000 Nigerians interested in learning "blockchain technology"
  • Critics are raising alarm over rising misinformation on YouTube
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Musk shuts down Twitter's new West African shop

Ride-hailing
As part of a sweeping overhaul of Twitter, its new owner Elon Musk gutted its West African office barely three days after it started operation. Throughout the year, Twitter has been filling vacancies in the Ghana-based office, as part of an expansionist movement to capitalise on local advertising partners.

Members of that team have now all been laid off. An email from Twitter to employees reads in part:

In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce. We recognize that this will impact a number of individuals who have made valuable contributions to Twitter, but this action is unfortunately necessary to ensure the company’s success moving forward.

Meanwhile, Jack Dorsey has stepped forward to take some responsibility for the layoffs that Musk has unleashed on the company which at the time of this reporting had climbed to over 3,700 jobs. Dorsey tweeted:

Folks at Twitter past and present are strong and resilient. They will always find a way no matter how difficult the moment...I realize many are angry with me. I own the responsibility for why everyone is in this situation: I grew the company size too quickly. I apologize for that.

But by last night, new reports revealed that Twitter had started reaching out to some of the employees whose jobs had been gutted in the layoffs, seeking that the return to work for the company presumably today.
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Dogecoin's whopping 2022 profits

Musk
According to the data unveiled by BitInfoCharts.com, as of November 1, 2022, there were 1,046 Dogecoin millionaires, almost two times as many as the 590 millionaires recorded on September 11. Contrary to initial speculations about its possible drop in market valuation, Dogecoin has surpassed every possible doubt, Technext reports.

Significantly, the altcoin recorded at least 1,000 millionaires earlier this year, in April. The bearish loop of the market tore down a meagre part of its mind-blowing strides. This minimized the number of members affiliated with the DOGE-exclusive club.

In the last seven days, the altcoin has leapfrogged Ethereum and Bitcoin with an eye-catching increase of 132%. Coingecko reported that Dogecoin currently trades at $0.145. While it is not as popular and sophisticated as Bitcoin and Ethereum, Doge’s recent increase in profit has furthered its stance in the market.

The two traditional cryptocurrencies witnessed a mild bloom of 2.2% and 8.9%, respectively, in the past seven days. This is a call to action for investors who initially dismissed and underestimated the intrinsic potential of DOGE. Dogecoin’s market capitalization over the last week is unrivalled and un
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NITDA to train 30,000 Nigerians on blockchain tech

Twitter
After an ongoing campaign to break the backbone of the rising crypto industry in Nigeria, the federal government now seeks to embrace it.

Nairametrics reports that the National Information Technology Development Agency (NITDA) recently announced the launch of the NITDA Blockchain Scholarship 2022 Scheme, in partnership with Domineum Blockchain Solutions.

NITDA Blockchain Scholarship is aimed at training 30,000 Nigerians on blockchain technology for developing career skill sets in emerging technologies.

The course will be given in all of the federation’s states through a hybrid format (virtual and in-person meetings), while other teams will be exposed to the BSV Ecosystem where they can get involved with other projects, outstanding teams in the project phase will have the chance to join an incubation program in London.

Details of the scholar are:
  • Host: Federal Government of Nigeria
  • Category: Training
  • Eligible country: Nigeria
  • Reward: Full scholarship
  • Deadline: November 28, 2022
  • Scholarship alerts: To receive scholarship alerts
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Critics raise alarm over misinformation on YouTube

WhatsApp
Ahead of elections in the US, disinformation watchdogs say they are concerned that what has been described as an aggressive effort by YouTube to confront misinformation on the Google-owned platform has developed blind spots. In particular, they are worried about YouTube’s TikTok-like service that offers very short videos, and about the platform’s Spanish-language videos.

But the situation is difficult to understand clearly, more than a dozen researchers said in interviews with The New York Times, because they have limited access to data and because examining videos is time-intensive work.

“It’s easier to do research with other forms of content,” such as text found on Facebook or Twitter, said Jiore Craig, the head of digital integrity for the Institute for Strategic Dialogue, or I.S.D., a nonprofit that counters extremism and disinformation. “That puts YouTube in a situation where they get off easier.”

While Facebook and Twitter are closely scrutinized for misinformation, YouTube has often flown under the radar, despite the broad influence of the video platform. It reaches more than two billion people and houses the web’s second-most popular search engine.
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Other stories we are following

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Have a great day!
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