Day: October 15, 2023

Nigerian gov supports AI initiatives with $290K in grants

The Nigerian Minister of Communications, Innovation and Digital Economy, Bosun Tijani, revealed on Friday, Oct.13, that the government intends to grant 5 million naira ($6,444) to 45 artificial intelligence (AI)-focused startups and researchers. This initiative was disclosed by the minister in a post on X (formerly Twitter) and is part of the recently introduced Nigeria Artificial Intelligence Research Scheme, which is designed to facilitate the widespread utilization of AI to drive economic advancement. As outlined on the scheme’s official website, the focus areas include agriculture, education and workforce, finance, governance, healthcare,…

Nigerian gov supports AI initiatives with $289,980 in grants

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The Nigerian Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, revealed on Friday, Oct.13, that the Federal Government intends to grant a sum of $6,444 (5 million naira) each to 45 artificial intelligence (AI) focused startups and researchers. This figure makes a total of $289,980 (225 million naira) being given out for the purpose of AI. This information was disclosed by the minister in a post on X. The recently introduced Nigeria Artificial Intelligence Research Scheme is designed to facilitate the widespread utilization of Artificial Intelligence to drive…

Latin America takes global lead in preference for centralized exchanges: Report

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According to a recent report from blockchain analytics firm Chainalysis, Latin America has a distinct inclination toward centralized exchanges when compared to the rest of the world, as opposed to decentralized exchanges. Published on October 11, Chainalysis stated that Latin America has the seventh-largest crypto economy in the world, trailing closely behind the Middle East and North America (MENA), Eastern Asia, and Eastern Europe. However, it notes that crypto users in Latin America strongly favor using centralized exchanges: Latin America shows the highest preference for centralized exchanges of any region we…

California Gov. Newsom greenlights crypto regulation bill for 2025

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California Governor Gavin Newsom has approved a cryptocurrency bill that enforces stricter regulations on businesses conducting crypto operations set to begin in 18 months.  In a statement published on October 13, Newsom declared that the bill titled the ‘Digital Financial Assets Law,’ will make it mandatory for both individuals and firms to obtain a Department of Financial Protection and Innovation (DFPI) license to engage in digital financial asset business activities. The bill is scheduled to come into effect on July 1, 2025. It draws a comparison to California’s money transmission…

Binance.US Updates Crypto Listing Process, Says Exchange Considering Launching Trading Support for Aptos Rival

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Binance’s US arm is updating the way it lists crypto assets by giving traders advance notice when it is considering adding trading support for a new token. Binance.US says the new procedure aims to provide additional transparency to its listing process. The first asset the exchange is evaluating with the new process is the native token of the recently launched layer-1 blockchain Sui Network (SUI). Sui Network’s mainnet first went live in early May. The project is an Aptos (APT) rival and uses the same coding language, Move, which was…

Bitcoin To Surpass Gold And Silver Within A Decade

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On Tuesday, an anonymous crypto analyst from a popular YouTube channel InvestAnswer shared more light on the future of Bitcoin. The analyst revealed that Bitcoin (BTC) is set to surpass both Gold and Silver in market capitalization in no more than a decade. BTC Is A Safer Haven Than Gold And Silver Over the years, Bitcoin has been regarded as digital gold due to the fact that the cryptocurrency offers the same benefits as gold with even additional features. In times of economic and political turbulence, BTC has been seen…