Telecom
Trump’s Crypto-business: What Does it Portend for American People if he Wins the Election?
Donald Trump is promising to make America the “crypto capital of the planet” if he returns to the White House.
While he runs for president, Trump has launched a new venture to trade cryptocurrencies – promoting them on the same social media accounts that he uses for his campaign.
His two eldest sons, Donald Jr. and Eric, are also posting about their new platform, called World Liberty Financial.
So, too, is his daughter-in-law, Lara Trump, who is married to Eric and also serves as co-chair of the Republican National Committee.
Trump has long melded his political and business interests, promoting his hotels and golf courses in the White House while selling sneakers, Bibles and shares in his social media company during his current campaign.
Now, Trump has launched a new moneymaking venture that could explode in value if he’s elected.
What’s more, presidential power could allow him to push through legislative and regulatory changes long sought by crypto advocates.
“Taking a pro-crypto stance is not necessarily troubling; the troubling aspect is doing it while starting a way to personally benefit from it,” said Jordan Libowitz, a spokesperson for the government watchdog group Citizens for Responsibility and Ethics in Washington.
“The success of this could be very tied to American economic policy,” Libowitz said.
Trump has changed his tune
Cryptocurrencies are forms of digital money that can be traded over the internet without relying on the global banking system.
They are commonly traded on exchanges, which are marketplaces that can be used to buy, sell and trade cryptocurrencies.
Exchanges often charge fees for withdrawals of Bitcoin and other currencies.
World Liberty Financial – linked to Trump – is expected to be a borrowing and lending service similar to recently hacked Dough Finance, an app built by four people listed as World Liberty Financial team members, according to crypto news site CoinDesk.
Many details about World Liberty Financial, including what stake Trump and his family members have in it, are still unknown.
After Lara Trump posted Tuesday on her X account about “our goal at World Liberty”, her husband, Eric Trump, posted online that Lara and his sister, Tiffany, had been hacked.
During his time in the White House, Trump said he was “not a fan” of cryptocurrency and tweeted in 2019: “Unregulated Crypto Assets can facilitate unlawful behaviour, including drug trade and other illegal activity.”
Trump has since, however, changed his tune and taken on a more favourable view of cryptocurrencies.
In May, he announced that his presidential campaign would begin accepting donations in cryptocurrency as part of an effort to build a “crypto army” leading up to Election Day.
The former president also attended a bitcoin conference in Nashville this year, where he promised to make the US the “crypto capital of the planet”.
Influence on monetary policy
If elected again, Trump has talked about exerting more control over monetary policy, suggesting he would press the Federal Reserve to set lower interest rates.
He is also promoting decentralised finance, or “DeFi,” which is a general term for using public blockchain space to disrupt the traditional finance world.
Trump has also talked about subsidising the use of Bitcoin mining in order to increase energy production and has vowed to block the creation of a Federal Reserve-administered Central Bank Digital Currency.
This is a digital form of central bank money that would be available to the public.
Appealing to the crypto voter base
Embracing cryptocurrency could be another way for the Trump campaign to reach younger men, including by engaging with conservative influencers.
Crypto also appeals to Trump allies who are concerned about government influence over global markets and worry generally about the reach of the so-called “deep state”.
Dustin Stockton, a pro-Trump activist turned crypto influencer, said he is supportive of the former president’s endeavours in the crypto space and the upcoming launch of World Liberty Financial.
“The Trump family’s engagement and involvement, and learning what it is that underlies crypto, I think is actually a really positive thing,” he said.
Stockton points to the Biden administration as anti-crypto, citing SEC head Gary Gensler’s pursuit of firms like Coinbase and Binance.
A conflict of interest?
While the White House issued an executive order on digital assets in 2022, no substantive laws have been passed by Congress or written into regulation by the White House.
Stockton said the lack of clarity of written rules by the Biden administration, as well as the SEC’s heavy-handed enforcement on crypto firms through a series of lawsuits, indicates that “there’s no clarity and there’s selective and arbitrary enforcement of regulations”.
“Frankly, I’d like to see all members of government get a better understanding of what this is,” he said.
J.W. Verret, a professor at George Mason University’s law school, said Trump would not be in violation of the law by launching a new project and promoting policies that would benefit it.
“I don’t see any problem with someone, anyone in government who owns assets or who starts a business – in fact, I think it’s hard for someone to regulate a particular type of business unless they work in that business,” he said.
Credit: Euronews except headline
Telecom
Edo State Launches Data Centre in Benin
Governor Godwin Obaseki of Edo has said that reforms by his administration in the digital and technology space over the last eight years have revolutionised the state.
The Governor who stated this on Friday at the launch of the Edo State Digital Policy and Edo Data Centre, disclosed that was the first data centre owned by a state in Nigeria.
According to him, his reforms had repositioned Edo as a leading state in digital inclusion in Nigeria, adding that his government was leveraging technology as a catalyst for socio-economic development and inclusive growth.
He said: “I welcome you to the only data center owned by a state in Nigeria. This event is significant because we have started a revolution in Edo State, a digital revolution. We are rounding up with a policy statement that will guide this revolution into the future.
“The population of Edo is scaled towards the youths as they are born in a digital age. The future is digital. It will be difficult to navigate the world today without technology. If you want to develop and grow rapidly, you must begin to think of how to use technology.
“The pace of the advancement of technology in the world today is scary. So, just imagine those who have not started yet; I don’t think they can live in the future world. In Edo, we have always been ahead in our history. We have been a knowledgeable people as we interacted at a global level over 500 years ago on our own level.
“To catch up, we had to do something else and different. That was why from the beginning it was clear to us that we had to introduce technology and make sure that we begin to retrain our young ones, the youths, to own this digital world and the confidence in it.”
Obaseki added: “We have moved Edo into the digital superhighway and to operate on that superhighway, they must know the rules and must be guided by certain rules and practices. That is what we are doing today and incorporating in this policy document. This will enable everybody to understand the shape of this high way and what they need to do on this high way.”
The governor continued: “I had the privilege of working with young people in Edo State and working together, we set up EdoJobs and the Edo Innovate Hub as these have helped our young people and till date, over 50,000 young men and women have benefited from various training and programmes from Edo Innovate. We have been lucky to build a digital ecosystem which has grown rapidly.
“Years ago, as the Chairman of the State’s Economy Team, we set up the ICTA but we struggled all through but we kept it alive, and set up the law governing it. The agency is principally responsible for providing technology for the government.
“I am proud today of what we have done in Edo State which is all-encompassing as no aspect of government in Edo State that has not been digitized or in the process of digitization. All Government jobs have been digitized, and it is not difficult to operate in Edo as files can’t miss again.”
He said: “Technology has made it easy for our children to learn in school through the EdoBEST programme. We have over 400,000 children in our public schools. We have data in all our public schools, teachers, parents and ward of our pupils.
“You can go to any of our primary healthcare centers today without seeing your records, especially if you have registered and with our health insurance. Security, healthcare, agriculture, education and other areas, we have introduced technology.
Telecom
IHS Nigeria Donates Solar-powered Boreholes to Support Flood Victims in Maiduguri, Borno State
IHS Nigeria, part of the IHS Holding Limited (NYSE: IHS) (“IHS Towers”) group, one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, has announced the donation of four solar-powered boreholes to support victims of recent floods in Maiduguri, Borno State.
The donation, which will be delivered through the United Nations Children’s Fund’s (UNICEF) emergency flood response, will help address the most urgent needs of flood-affected populations in Borno State, especially those displaced following flooding in Maiduguri Metropolitan Council, Jere and Konduga LGAs.
The response by IHS Nigeria and UNICEF will help mitigate the impact of the flood and the risk of waterborne diseases for nearly 20,000 people, including vulnerable groups such as pregnant women and young mothers, children, and patients visiting health centers.
The four solar-powered boreholes donated by IHS Nigeria will be constructed in displaced peoples’ settlements and other temporary displacement sites.
This will include in densely populated areas without access to a safe water source, at schools to help facilitate the early return of children to classes, and at health centers, which are also used as Outpatient Therapeutic Program sites and provide nutrition services and counselling for pregnant women, young mothers, and malnourished children.
Mohamad Darwish, CEO, IHS Nigeria, said, “We empathize with the government and people of Borno State and extend our sympathies to those who lost loved ones and properties in the flood.
“We are aware that as people begin to return to their homes and communities with flood waters receding, they continue to face major risk factors, including damaged and contaminated water sources.
“A key priority for us, which informed our donation of these boreholes, is to help prevent or limit outbreaks of communicable diseases such as cholera, while improving water, sanitation and hygiene (WASH) services for affected populations.
This donation is an extension of our partnership with UNICEF, which since 2021 has supported the provision of WASH facilities to over 6,000 beneficiaries and enabled the delivery of over one million preventive and curative treatments for tropical diseases related to WASH.”
Cristian Munduate, UNICEF Representative in Nigeria, said, “UNICEF is very grateful to IHS Nigeria for their generous donation of solar-powered boreholes, which comes at a critical time for communities affected by recent floods in Borno State.
“This contribution will not only provide essential safe water to thousands, but also protect vulnerable populations, including children, from the threat of waterborne diseases, and support communities as they work to start rebuilding their lives and livelihood.
“Together with IHS Nigeria, we are making significant strides in safeguarding children and families, and strengthening resilience through our shared commitment to water, sanitation and hygiene services in emergencies.”
IHS Nigeria’s long-standing partnership with UNICEF was recently demonstrated by the visit of Kitty van der Heidjen, UNICEF’s Deputy Executive Director, Partnerships, and her team to the company’s Head Office in Lagos.
Kitty van der Heidjen expressed her appreciation for the ongoing partnership with IHS Nigeria in empowering the country’s youth through education and digital connectivity. Under UNICEF’s Generation Unlimited (GenU) Project, designed to improve digital learning in Nigeria, IHS Nigeria has helped provide internet connectivity to 800 educational institutions between 2022 and 2024.
Through a collaborative partnership with UNICEF that began in 2019, IHS Nigeria has invested more than $4 million in various initiatives, including GenU 9ja, COVID-19 interventions, oxygen plant installations, WASH initiatives and school connectivity.
Telecom
AfriTECH 4.0 Unveils Prestigious Lineup of Speakers
Organizers of Africa Tech Alliance Forum [AfriTECH 4.0] have announced the distinguished lineup of speakers for this year’s Forum themed: “Leapfrogging Digital Transformation for Future of Africa’s Economy”.
Scheduled to hold on Thursday, November 07, 2024 at Oriental Hotels, Lekki, Lagos, Nigeria, AfriTECH 4.0 [https://africatechallianceforum.africa/] will bring together leading voices in technology, telecommunications, ecommerce, software, finance, emerging technologies and government to explore key innovations and challenges shaping Africa’s digital transformation.
AfriTECH has become one of Africa’s most anticipated technology events, and the 2024 edition will feature a stellar lineup of industry experts, innovators, and policymakers who will provide insights into how emerging technologies are propelling Africa’s digital economy.
Special Guests:
Dr. Aminu Maida, a distinguished leader in telecommunications and digital transformation, serves as the Executive Vice Chairman of the Nigerian Communications Commission (NCC).
With over two decades of experience in the ICT sector, Maida has become a pivotal figure in driving Nigeria’s digital economy, overseeing regulatory frameworks and initiatives that foster innovation, investment, and inclusivity in Nigeria’s telecom industry.
Kashifu Inuwa Abdullahi, is a transformative leader in Nigeria’s technology landscape, currently serving as the Director General of the National Information Technology Development Agency (NITDA).
Under his guidance, NITDA has driven impactful initiatives supporting Nigeria’s digital economy, fostering innovation, digital skills development, and creating an enabling environment for tech startups and entrepreneurship.
He will deliver the keynote address at AfriTECH 4.0.
Professor Ibrahim Adepoju Adeyanju is the CEO of Galaxy Backbone, a key government-owned technology and digital infrastructure company. Under his leadership, Galaxy Backbone focuses on strengthening Nigeria’s digital ecosystem by providing secure and innovative ICT infrastructure to government agencies and businesses, supporting national development and e-governance initiatives.
Biram Fall, the Regional Managing Director, QNET, a leading e-commerce-based direct selling company.
In his role, Mr. Fall oversees QNET’s operations and growth strategies across several markets, focusing on enhancing regional reach and ensuring the company aligns with local business needs.
Known for his expertise in direct-selling and his commitment to sustainable business practices, Fall has been instrumental in expanding QNET’s footprint in Africa and other emerging markets.
Ebehijie Momoh is a renowned financial services leader with over 20 years of experience in banking and payment technology, currently serving as CEO of AfrigoPay Financial Services Limited, where she leads the company’s mission to provide innovative payment solutions across Africa.
With a background in financial services and a deep understanding of digital payments, Momoh brings extensive experience to her role, focusing on transforming the financial landscape through accessible, secure, and efficient payment systems.
Her leadership emphasizes financial inclusion, driving AfrigoPay’s efforts to reach underserved communities and promote economic empowerment across the continent.
Dr. Muhammed Sirajo Aliyu is a visionary leader in Nigeria’s information technology sector. He is the incumbent President of the Nigeria Computer Society (NCS), the foremost association of IT professionals in Nigeria.
With an extensive background in computer science, IT governance, and digital innovation, Dr. Aliyu brings over 25 years of experience to his role, where he champions the advancement of technology and professional development within Nigeria’s IT ecosystem.
Dr. Temitope Alakija, a renowned academic and statistician, is a Senior Lecturer in the Department of Statistics at Yaba College of Technology [Yabatech] Lagos. With a deep expertise in data science, statistical analysis, and quantitative research, Dr. Alakija is dedicated to advancing the field of statistics and training future leaders in data-driven decision-making.
Holding a PhD in statistics and with numerous publications, Dr. Alakija’s research contributions have significantly influenced both academia and industry, particularly within Africa. Her commitment to academic excellence and her role in fostering a data-literate society make her a highly respected figure in the statistical community.
Adesola Akinsanya – President, Nigeria Internet Registration Association (NiRA). Akinsanya brings decades of expertise to his role, where he advocates for technological innovation, professional growth, and policy advancement in Nigeria’s IT landscape..
Engr. Gbenga Adebayo, Chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON). Engr. Adebayo is a prominent figure in Nigeria’s telecommunications industry, with over 25 years of experience in telecom and ICT. He is known for his advocacy for industry development, regulatory reform, and the provision of accessible telecommunications services across Nigeria.
Tony Izuagbe Emoekpere – President, Association of Telecommunications Companies of Nigeria (ATCON). With an extensive background in telecom management, digital strategy, and regulatory advocacy, Emoekpere is dedicated to advancing Nigeria’s telecom industry and fostering an environment that promotes innovation, investment, and inclusivity.
Key Speakers for AfriTECH 4.0:
Engineer Ikechukwu Nnamani – CEO, Digital Realty (Nigeria). In his keynote presentation at AfriTECH 4.0, Engr. Nnamani is expected to share his expertise on building resilient telecommunications infrastructure to support Africa’s digital future.
For over 16 years under his leadership the Digital Realty datacenter in Lagos is rated the most interconnected facility in the West African sub-region being the number 1 peering point for the region and boosting all submarine cables in the region, long distance providers, metro fiber providers, mobile services providers, fixed services providers, OTT providers, Internet Exchange, VAS providers, and global Tier1 service providers, amongst others.
Other outstanding personalities confirmed as speakers include – Dr. Obadare Peter Adewale, Chief Visionary Officer, Digital Encode Limited; Mr. Emmanuel Amos, Founder – Programos Foundation/InnovationBed Africa; Chukwuebuka Ume-Ezeoke, Chief Technology Officer at CED Technologies; Dr. Oluseyi Akindeinde, Founder, Hyperspace Technologies; Happiness Obioha, Managing Director, Tecom Concepts Limited; Chukwuemeka Mbaebie, Convener, Lagos Blockchain Week; Akeem Ajisafe, Managing Director, Transblue Limited; Chika Nwosu, Managing Director, PalmPay; Jude Ozinegbe, Founder/Convener at Cyberchain; Mohammed Rudman, CEO, Internet Exchange Point of Nigeria [IXPN]; Dr. Ayotunde Coker, CEO Open Access Data Centres (OADC); Kehinde Ogundare, country manager, ZOHO [Nigeria]; Ayodeji Ogunmola, Director, Products Management at Northsnow Ltd; Oluwakayode Durodola, founder, Otuntech Limited; Lovelyn Okafor, Country Head, Nigeria at Newmark; Olaniyi Ibraheem, Business Development Manager (Africa) at UBankConnect; Adedamola Bowale, Co-founder & Technical Lead at Avancee Pinnacle, and Moniade Adeniyi, Product Innovation & Business Growth Strategist, Northsnow Ltd.
Meanwhile, innovationbed Africa is set to host “Startup Showcase” at AfriTECH, a session dedicating to startup finalists for this year’s United Nations World Summit Awards. Discussants include – David-Bobola Ojoawo, the Producer for Compas.AI; Stephen Adeyemo of Expertplug; Siro Collins, CEO of Advanced Engineering Center (AEC), WSA Winner 2023; Elijah Moses, Producer for VerionX; Rasheed Aliu Producer for LOOPBOX; Musami Umar Musam, founder of RollMal; David Ezeonyekwere, the founder of CheapMarketDeal, and Sule Wisdom David, the founder of CyclexAfrica.
QNET is the gold sponsor of AfriTECH 40. Silver Sponsors – Galaxy Backbone, Digital Realty, Digital Encode Ltd. Bronze Sponsors – CED Technologies, AfriGoPay, Tecom, Northsnow UK, Hyperspace Technologies, Palmpay, OADC.
Ecosystem Partners: NCC, NITDA,, InnovationBed Africa, ALTON, ATCON, NCS, IXPN, NiRA, Lagos Blockchain Week, Newmark Group, all are supporting AfriTECH 4.0.
Media Partners include; Techeconomy, NigeriaCommunicationsWeek, ITPulse, Ravenews, TechTrends.Africa, TechBuild.Africa, GrassRoots, DigiVation Network, TechLifewithUgo, BusinessMetrics, BusinessRemarks, SwiftReporters, TechTV, Africa Hyperscalers Media, CyberEra, ITRealms, DigitalTimes, TechnologyMirror, TechandBizNews, ITNewsNigeria.
“AfriTECH 4.0 will also feature interactive panel discussions, workshops, and exhibitions that will explore other critical topics such as artificial intelligence (AI), blockchain, fintech, smart cities, and sustainable innovation”, said Chike Onwuegbuchi, co-convener of AfriTECH. “We are grateful to the sponsors and partners”.
“Attendees will have the opportunity to engage directly with the speakers, as well as network with other industry leaders, innovators, and investors”, he added.
Participation
Participation is free, but you are required to pre-register: https://bit.ly/3ZPdi88
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