Connect with us
Advertisement

The Bitcoin Revolution is upon us!

TIGELE MOKOBI

“Nothing is more expensive than a missed opportunity,” Mark Zuckerberg
Part 2

The technology that underpins the transfer of value and assets through the internet and is rewriting business models and revolutionizing industries is called the blockchain technology. Blockchain is a shared digital distributed ledger with a continually updated list of all transactions that happen on the platform. The ledger keeps every transaction that ever happened in a completely decentralized form and distributed among users.

The decentralized nature of the blockchain means third parties, like banks, who have traditionally been responsible for the ledger have been eliminated from transactions. The invention of the blockchain is greatly impacting daily lives and is creating, “an open, accessible and fair financial future making transactions with digital currencies, stocks and property simple and secure.” Blockchain enables, ‘the Internet of value,’ and provides a distributed ledger across the Internet making it possible to manage, exchange, store and track assets without any powerful intermediaries.

Futurist and professor of theoretical physics at the City Collage of New York, Michio Kaku says, “The blockchain eliminates traditional intermediaries like banks, utility companies and governments from business transactions.” Blockchain underpins cryptocurrencies (digital currencies) like bitcoin. Created in January 2009, bitcoin is the first decentralized, globally accepted digital currency that was designed to work without a central bank, single administrator or government.

Bitcoin is both a store of value and a transactional currency that is exchanged by users on a peer-to-peer bitcoin network. The digital currency is operated on a cryptographic protocol without the need for intermediaries. Bitcoin is produced through a process called “mining” which entails encrypted techniques used to regulate the generation of units of the currency and verify the transfer of funds. These transactions are verified by network nodes through cryptography and recorded in the public distributed ledger, the blockchain.

Just as investment opportunities in the mobile phone technology made Strive Masiyiwa a multi-millionaire and the first era of the internet made Mark Zuckerberg and his business partners extremely wealthy, bitcoin is set to take a lot of the worlds population out of poverty and catapult many more to a state of immense wealth.

In its April 2015 edition, Forbes Magazine quotes partner at William Blair and Company, Brian Singer asserting that, “bitcoin and the blockchain encryption that underpins it has a greater ability to bring more of the world’s population out of poverty than anything we have ever witnessed before.” William Blair and Company is a financial services firm that is industry leaders in the sphere of investment banking, investment management and private wealth management across the world.

Singer’s wealth creation sentiments are backed by the explosion of emerging millionaires created by the bitcoin revolution across the world. The sentiments are echoed by Michio Kaku who says, “If you want to become a billionaire, take any industry, look at all the places where there is the middleman, where there is friction, obstruction and frustration, digitize it and you too could become a billionaire in the mould of Amazon, Uber and Airbnb.”  

BitClub Network (BCN) is a global wealth building company for the digital currency market. The company is rated as one of the world’s top ten mining companies. It is the only bitcoin mining company on the blockchain that offers ordinary citizens business and investment opportunities in the cryptocurrency space and the blockchain technology. All the other companies are privately owned by wealthy investors such as Bill Gates, Richard Branson, Al Gore and the New York Stork Exchange.

By combining a crowd funded mining pool with the power of an affiliate structure the BitClub Network investment pool provides an opportunity for members to leverage their earning potential unlike anything else in this space. With over 300,000 members in over 90 countries the BitClub Network has mined over 60,000 Bitcoins and created more than 100 millionaires across the world. BitClub Network remains the best crowd funding mining opportunity in the world today and bitcoin the fastest growing and best performing digital currency in the world.

For its audacious intent of disrupting current global financial systems and usurping world currency dominance, bitcoin has faced fierce resistance from governments, banks and other business intermediaries who are fast losing ground to the new kid on the block. It is inevitable that these entities would never surrender their dominance and control of the global monetary system that easily. They seek to retain the existing system of fiat money and they will defend the status quo to the hilt.

The arrival of the ubiquitous bitcoin has presented them with a double-edged knife because while the prolific digital currency is a threat to their dominance, they cannot wish it away nor stand on the sidelines in a game they believe they should be playing.In the 10 years since its creation, bitcoin has defied all odds and continues its buoyant rise to world dominance despite disparaging comments from governments, vicious attacks from banks and the vitriolic remarks and poisoned pen of these entities ‘hired pens and mikes.’

Leading the chorus of aggressive local crypto-bashers is Consumer Watchdog’s Richard Harriman while the global assault is marshaled by prominent bitcoin detractor Nouriel Roubini also known as ‘Dr Doom’ for his cynical outlook of cryptocurrencies. In a curious turn of events, it is worth noting that, notwithstanding the unflattering commentary from these stool pigeons, their masters, governments, banks and other major players in the current global monetary system are heavily invested in bitcoin and other digital currencies.

One need only visit any of these sites to see the hypocrisy of these forked tongue crypto-bashers;  HYPERLINK "https://blockchain.com" https://blockchain.com or  HYPERLINK "https://www.worldcoinindex.com/" https://www.worldcoinindex.com/ These sites list all investors in cryptocurrencies. The list of all those who have invested raises questions, why would these entities be busy amassing bitcoin and then turn around and dissuade the ordinary citizen from investing in the digital asset?

The sustained attacks by crypto-bashers coupled with damage coursed by criminal elements, schemers and nay-sayers have undoubtedly tarnished bitcoins good image and instilled a pessimistic wait-and-see attitude among those seeking to take up the investment and business opportunities presented by this prolific digital asset. BitClub Network has been called a Ponzi scheme, a scam and alarmists have gone on to call bitcoin a financial and asset bubble that is about to burst.

However, bitcoin has gallantly fought off competitors for market share. It is temper-proof and the most successful online platform where futile attempts to hack the system are made 24/7 because of the immense value the system carries.  The digital currency is rapidly becoming accepted as a reputable currency and well on the way to replace fiat currency and become the global currency.

Bitcoin’s phenomenal success has made the International Monetary Fund (IMF) pay attention. Winds of change have reached the global organization with its managing director Christine Lagarde encouraging central banks throughout the world to, “consider using digital currency to make transactions more efficient and secure.” Locally, the initial indifference displayed by government, Bank of Botswana and the Botswana Stock Exchange has slowly dissipated, and we are now witnessing their awakening to the fact that bitcoin is here to stay.

There is evidence these entities are busy making room to accommodate the digital currency with the Governor of Bank of Botswana Moses Pelaelo making reference to bitcoin’s staying power on occasion of the currency’s 10th anniversary. He was speaking at the recent Botswana Stock Exchange Limited opening bell ceremony. Bitcoin was created to challenge the conventional financial system and return the ownership of money to the people, beyond the reach of banks and the state.

The digital asset presents a radical approach to money and finance giving ordinary citizens business and investment opportunities in the emerging monetary system. British computer programmer and businessman (Founder of software company MaAfee Associates) John McAfee states, “We are in a revolution against the waning power of governments and banks.

Their only weapon is sowing fear.” Swedish politician and information technology entrepreneur, Rick Falkvinge declares that, “Bitcoin will do to banks what email did to the postal industry.”  As the bitcoin revolution sweeps across the world, BitClub Network presents ordinary citizens with a crowd funding business and investment opportunity in the cryptocurrency space. We have a choice to either be a part of it or we could watch it happen. 

Continue Reading

Columns

Export Processing Zones: How to Get SEZA to Sizzle

23rd September 2020
Export Processing Zone (EPZ) factory in Kenya

In 2005, the Business & Economic Advisory Council (BEAC) pitched the idea of the establishment of Special Economic Zones (SEZs) to the Mogae Administration.

It took five years before the SEZ policy was formulated, another five years before the relevant law was enacted, and a full three years before the Special Economic Zones Authority (SEZA) became operational.

This content is locked

Login To Unlock The Content!

 

Continue Reading

Columns

Egypt Bagged Again

23rd September 2020
Samson

… courtesy of infiltration stratagem by Jehovah-Enlil’s clan

With the passing of Joshua’s generation, General Atiku, the promised peace and prosperity of a land flowing with milk and honey disappeared, giving way to chaos and confusion.

Maybe Joshua himself was to blame for this shambolic state of affairs. He had failed to mentor a successor in the manner Moses had mentored him. He had left the nation without a central government or a human head of state but as a confederacy of twelve independent tribes without any unifying force except their Anunnaki gods.

This content is locked

Login To Unlock The Content!

 

Continue Reading

Columns

‘RO, ‘RO ‘RO YOUR ‘BOT

23rd September 2020

If I say the word ‘robot’ to you,  I can guess what would immediately spring to mind –  a cute little Android or animal-like creature with human or pet animal characteristics and a ‘heart’, that is to say to say a battery, of gold, the sort we’ve all seen in various movies and  tv shows.  Think R2D2 or 3CPO in Star Wars, Wall-E in the movie of the same name,  Sonny in I Robot, loveable rogue Bender in Futurama,  Johnny 5 in Short Circuit…

Of course there are the evil ones too, the sort that want to rise up and eliminate us  inferior humans – Roy Batty in Blade Runner, Schwarzenegger’s T-800 in The Terminator,  Box in Logan’s Run,  Police robots in Elysium and  Otomo in Robocop.

And that’s to name but a few.  As a general rule of thumb, the closer the robot is to human form, the more dangerous it is and of course the ultimate threat in any Sci-Fi movie is that the robots will turn the tables and become the masters, not the mechanical slaves.  And whilst we are in reality a long way from robotic domination, there are an increasing number of examples of  robotics in the workplace.

ROBOT BLOODHOUNDS Sometimes by the time that one of us smells something the damage has already begun – the smell of burning rubber or even worse, the smell of deadly gas. Thank goodness for a robot capable of quickly detecting and analyzing a smell from our very own footprint.

A*Library Bot The A*Star (Singapore) developed library bot which when books are equipped with RFID location chips, can scan shelves quickly seeking out-of-place titles.  It manoeuvres with ease around corners, enhances the sorting and searching of books, and can self-navigate the library facility during non-open hours.

DRUG-COMPOUNDING ROBOT Automated medicine distribution system, connected to the hospital prescription system. It’s goal? To manipulate a large variety of objects (i.e.: drug vials, syringes, and IV bags) normally used in the manual process of drugs compounding to facilitate stronger standardisation, create higher levels of patient safety, and lower the risk of hospital staff exposed to toxic substances.

AUTOMOTIVE INDUSTRY ROBOTS Applications include screw-driving, assembling, painting, trimming/cutting, pouring hazardous substances, labelling, welding, handling, quality control applications as well as tasks that require extreme precision,

AGRICULTURAL ROBOTS Ecrobotix, a Swiss technology firm has a solar-controlled ‘bot that not only can identify weeds but thereafter can treat them. Naio Technologies based in southwestern France has developed a robot with the ability to weed, hoe, and assist during harvesting. Energid Technologies has developed a citrus picking system that retrieves one piece of fruit every 2-3 seconds and Spain-based Agrobot has taken the treachery out of strawberry picking. Meanwhile, Blue River Technology has developed the LettuceBot2 that attaches itself to a tractor to thin out lettuce fields as well as prevent herbicide-resistant weeds. And that’s only scratching the finely-tilled soil.

INDUSTRIAL FLOOR SCRUBBERS The Global Automatic Floor Scrubber Machine boasts a 1.6HP motor that offers 113″ water lift, 180 RPM and a coverage rate of 17,000 sq. ft. per hour

These examples all come from the aptly-named site www.willrobotstakemyjob.com    because while these functions are labour-saving and ripe for automation, the increasing use of artificial intelligence in the workplace will undoubtedly lead to increasing reliance on machines and a resulting swathe of human redundancies in a broad spectrum of industries and services.

This process has been greatly boosted by the global pandemic due to a combination of a workforce on furlough, whether by decree or by choice, and the obvious advantages of using virus-free machines – I don’t think computer viruses count!  For example, it was suggested recently that their use might have a beneficial effect in care homes for the elderly, solving short staffing issues and cheering up the old folks with the novelty of having their tea, coffee and medicines delivered by glorified model cars.  It’s a theory, at any rate.

Already, customers at the South-Korean  fast-food chain No Brand Burger can avoid any interaction with a human server during the pandemic.  The chain is using robots to take orders, prepare food and bring meals out to diners.  Customers order and pay via touchscreen, then their request is sent to the kitchen where a cooking machine heats up the buns and patties. When it’s ready, a robot ‘waiter’ brings out their takeout bag.   

‘This is the first time I’ve actually seen such robots, so they are really amazing and fun,’ Shin Hyun Soo, an office worker at No Brand in Seoul for the first time, told the AP. 

Human workers add toppings to the burgers and wrap them up in takeout bags before passing them over to yellow-and-black serving robots, which have been compared to Minions. 

Also in Korea, the Italian restaurant chain Mad for Garlic is using serving robots even for sit-down customers. Using 3D space mapping and other technology, the electronic ‘waiter,’ known as Aglio Kim, navigates between tables with up to five orders.  Mad for Garlic manager Lee Young-ho said kids especially like the robots, which can carry up to 66lbs in their trays.

These catering robots look nothing like their human counterparts – in fact they are nothing more than glorified food trolleys so using our thumb rule from the movies, mankind is safe from imminent takeover but clearly  Korean hospitality sector workers’ jobs are not.

And right there is the dichotomy – replacement by stealth.  Remote-controlled robotic waiters and waitresses don’t need to be paid, they don’t go on strike and they don’t spread disease so it’s a sure bet their army is already on the march.

But there may be more redundancies on the way as well.  Have you noticed how AI designers have an inability to use words of more than one syllable?  So ‘robot’ has become ‘bot’ and ‘android’ simply ‘droid?  Well, guys, if you continue to build machines ultimately smarter than yourselves you ‘rons  may find yourself surplus to requirements too – that’s ‘moron’ to us polysyllabic humans”!

Continue Reading
Do NOT follow this link or you will be banned from the site!