Global Tech - Afrikan Heroes

Google is Making Breakthroughs Much Bigger Than AI

March 21, 2023

Hype surrounding the rise of ChatGPT and the supposed ground Google is losing to Microsoft and OpenAI in the search wars has overshadowed more important developments in computing, progress which will have far greater implications than which website serves up better tax advice.

Quantum computing is the holy grail of scientists and researchers, but it’s still decades away from reality. Google’s parent company, Alphabet, however moved the ball down the field last month with news that it found ways to ameliorate one of the biggest problems facing the nascent field: accuracy.

To date, all computing is done on a binary scale. A piece of information is stored as either one or zero, and these binary units (bits) are clumped together for further calculation. We need four bits to store the number eight (1000 in binary), for example. It’s slow and clunky, but at least it’s simple and accurate. Silicon chips have been holding and processing bits for almost seven decades.

Google claims to have made a huge breakthrough in an important sub-field called quantum error correction

Quantum bits — qubits — can store data in more than two forms (it can be both 1 and 0 at the same time). That means larger chunks of information can be processed in a given amount of time. Among the many downsides is that the physical manifestation of a qubit requires super-cold temperatures — just above zero degrees Kelvin — and are susceptible to even the minutest amount of interference such as light. They’re also error prone, which is a big problem in computing.

In a paper published in Nature last month, Google claims to have made a huge breakthrough in an important sub-field called quantum error correction. Their approach is quite simple. Instead of relying on individual physical qubits, scientists store information across many physical qubits but then view this collection as a single one (called a logical qubit).

Google had theorised that clumping a larger number of physical qubits to form a single logical qubit would reduce error rate. In its research paper, outlined in a blog post by CEO Sundar Pichai, the team found that a logical qubit formed from 49 physical qubits did indeed outperform one composed of 17.

Quantum supremacy

In reality, dedicating 49 qubits to the handling of just a single logical one sounds inefficient and even overkill. Imagine storing your photos on 49 hard drives just to ensure that, collectively, a single hard drive is error free. But given the vast potential of quantum computing, even such baby steps amount to significant progress.

More importantly, it gives the broader scientific community a basis from which to build on this knowledge to further advance related fields including materials science, mathematics and electrical engineering which will all be needed to make an actual quantum computer reality. The hope of building a system that can solve a problem which no current machine could feasibly manage is called quantum supremacy.

Four years ago, Google said it completed a test in 200 seconds for a task that would take a conventional supercomputer thousands of years, proof that we’re on the path to quantum supremacy.

But like artificial intelligence tools such as ChatGPT, proving they work is only one part of the puzzle. High accuracy and low error rates — something recent chatbots are prone to — remain elusive. Improvement on this front is a major goal for developers of both technologies, with OpenAI this week saying its new GPT-4 is 40% more likely to produce factual results than its predecessor.

Unfortunately, a supercooled computer crunching data isn’t as fun as a digital assistant that can write limericks or draft a school essay. But in future these breakthroughs will be as comparable as the entertainment value of television versus the world-changing feat of landing a human on the moon.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Bitcoin Near Highest Level Since June in Broad Crypto Rally

March 17, 2023

The crypto market pushed higher as efforts to shore up the banking sector and bets that the US may start cutting interest rates later this year bolstered investor sentiment.

Bitcoin, the largest token, rose as much as 4.9% and was trading at about US$25 610 as of 10.45am in Singapore on Friday. Second-ranked ether added roughly 3%, while smaller tokens like solana and polkadot also jumped.

“Any sign of interest rate cuts should push funds to riskier assets, which is likely to be enough to bring more institutional funds into the crypto market, regardless of whether macro traders understand or believe in the longer-term bitcoin investment thesis,” wrote Noelle Acheson, author of the Crypto Is Macro Now newsletter.

Bitcoin has climbed about 55% so far this year and is in touching distance of the highest level since June 2022. But the token remains a long way off its record of almost $69 000 from November 2021.

Nervousness about the banking sector after the collapse of three regional US lenders and pressure on Credit Suisse Group has triggered a powerful rally in sovereign bonds as investors seek out perceived havens.

“The plunge in yields is welcome news for many crypto start-ups,” Edward Moya, senior market analyst with Oanda, wrote in a note.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

TikTok Laments That United States is Threatening Ban

March 16, 2023

TikTok has announced that the United States government has demanded that its Chinese owners divest their stakes in the popular video app, or face a ban. This was made known on Wednesday by the company.

The Biden administration has demanded that TikTok’s Chinese owners divest their stakes in the popular video app or face a possible US ban, the company said on Wednesday.

The move is the most dramatic in a series of recent steps by US officials and legislators who have raised fears that TikTok’s US user data could be passed on to China’s government. ByteDance-owned TikTok has more than 100 million US users.

It is also the first time under the administration of Democratic President Joe Biden that a potential ban on TikTok has been threatened. Biden’s predecessor, Republican Donald Trump, had tried to ban TikTok in 2020 but was blocked by US courts. If protecting national security is the objective, divestment doesn’t solve the problem

TikTok spokeswoman Brooke Oberwetter said the company had recently heard from the US treasury-led Committee on Foreign Investment in the United States (CFIUS), which demanded that the Chinese owners of the app sell their shares, and said otherwise they would face a possible US ban of the video app.

The Wall Street Journal first reported the move. ByteDance confirmed that 60% of its shares are owned by global investors, 20% by employees and 20% by its founders.

CFIUS, a powerful national security body, had unanimously recommended in 2020 that ByteDance divest TikTok. Under pressure from then-President Trump, ByteDance in late 2020 unsuccessfully sought to finalise a deal with Walmart and Oracle to shift TikTok’s US assets into a new entity.

Read: TikTok moves to stave off growing threat of Western crackdown

“If protecting national security is the objective, divestment doesn’t solve the problem: a change in ownership would not impose any new restrictions on data flows or access,” Tiktok’s Oberwetter said in a statement.

TikTok CEO Shou Zi Chew is due to appear before the US congress next week. It is not clear if the Chinese government would approve any divestiture and the Chinese embassy in Washington did not immediately respond to a request for comment.

Last month, the White House gave government agencies 30 days to ensure they do not have TikTok on federal devices and systems. More than 30 US states have also banned employees from using TikTok on government-owned devices.

Any US ban would face significant legal hurdles and potential political ramifications, since TikTok is popular with millions of young Americans.

Last week, Democratic senator Mark Warner said it was important the US government do more to make clear what it believes are the national security risks from TikTok. “It’s going to be incumbent on the government to show its cards in terms of how this is a threat,” Warner said.

TikTok and CFIUS have been negotiating for more than two years on data security requirements. TikTok said it has spent more than $1.5-billion on rigorous data security efforts and rejects spying allegations.

TikTok said on Wednesday that “the best way to address concerns about national security is with the transparent, US-based protection of US user data and systems, with robust third-party monitoring, vetting and verification.”

Last week, the White House backed legislation by a dozen senators to give the administration new powers to ban TikTok and other foreign-based technologies if they pose national security threats. It could give the Biden administration new ammunition in court if they sought to ban TikTok.

White House national security adviser Jake Sullivan praised the bipartisan bill, saying it “would strengthen our ability to address discrete risks posed by individual transactions, and systemic risks posed by certain classes of transactions involving countries of concern in sensitive technology sectors.”

The house of representatives foreign affairs committee this month voted along party lines on a much broader bill aimed at Tiktok, sponsored by Republican representative Michael McCaul, that Democrats said would require the administration to effectively ban TikTok and other subsidiaries of ByteDance.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Meta to Cut Another 10,000 Jobs and Cancel ‘Low Priority Projects’

March 15, 2023

Parent company of Facebook and Instagram, Meta has announced an across the board job cuts that will affect 10,000 people and withdraw around 5,000 open roles that it had yet to fill, company co-founder and CEO Mark Zuckerberg said Tuesday, confirming recent rumors that another round of layoffs was imminent.

Zuckerberg also said that the company will cancel “lower priority projects,” adding that he “underestimated the indirect costs” associated with these initiatives.

The announcement comes just four months after Meta revealed that it was eliminating about 11,000 roles as the social networking giant pushes ahead with what it’s calling a “year of efficiency.” Combined, this means that Meta has effectively laid off — or plans to lay-off — roughly one-quarter of its workforce since the tail-end of last year.

Facebook’s parent firm said it expects the latest restructuring efforts to start in its tech groups in April, followed by its business groups in May.

“In a small number of cases, it may take through the end of the year to complete these changes,” Zuckerberg wrote in a memo to staff that was subsequently published to the public. “Our timelines for international teams will also look different, and local leaders will follow up with more details. This will be tough and there’s no way around that.”

In a separate SEC filing, Meta said that it expects its full-year 2023 expenses to be in the $86 billion to $92 billion range, a figure that it lowered from a previous estimate that ran up to around $95 billion. Much of this is down to “cost-reduction measures” associated with the restructuring, including severance payouts.

Zuckerberg added that after the latest restructuring efforts are complete, the company will lift its hiring freeze across its various groups.

Additionally, Zuckerberg also pointed to some early internal analysis that indicates engineers who initially joined Meta in an in-person capacity perform better than those who joined on a remote basis, an early sign — perhaps — of what could be a toughening stance against remote work.

While Zuckerberg didn’t go much into the specifics around what types of roles or “lower priority projects” will be eliminated, Meta did reveal yesterday that it was winding down support for NFTs on Instagram and Facebook to focus on other monetization initiatives. In his memo today, Zuckerberg also talked about “flattening” the various organizations and divisions that constitute Meta Platforms Inc. corporation, which will mean removing some of the management layers.

“It’s well-understood that every layer of a hierarchy adds latency and risk aversion in information flow and decision-making,” he wrote. “Every manager typically reviews work and polishes off some rough edges before sending it further up the chain. In our Year of Efficiency, we will make our organization flatter by removing multiple layers of management. As part of this, we will ask many managers to become individual contributors. We’ll also have individual contributors report into almost every level — not just the bottom — so information flow between people doing the work and management will be faster.”

Similar to the messaging around its previously announced round of layoffs in November, Zuckerberg was quick to stress that it was building for the long-term, with a continued focus on AI and the metaverse. Indeed, while its pivot to the metaverse back in 2021 has largely been viewed as a massive mis-step by many, one that is nowhere near ready to generate the kinds of rewards its shareholders might like, there is little to indicate that Zuckerberg’s unwavering metaverse conviction will change any time soon.

“Our single largest investment is in advancing AI and building it into every one of our products,” Zuckerberg wrote. “We have the infrastructure to do this at unprecedented scale and I think the experiences it enables will be amazing. Our leading work building the metaverse and shaping the next generation of computing platforms also remains central to defining the future of social connection.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Second Largest Stablecoin Depegs From the US Dollar

March 14, 2023

The fallout from the failure of Silicon Valley Bank reached further into crypto, unhinging a key cog in the market that’s meant to be among the safest digital assets in the space.

The second largest stablecoin fell from its intended US$1 peg, trading as low as 81.5c as investors reacted to the exposure of issuer Circle Internet Financial to the collapsed bank.

USD coin, or USDC, is an asset-backed stablecoin and a widely used plank of crypto markets. The token is intended to hold a constant $1 value, fully backed by reserves of cash and short-dated US treasuries. But late on Friday, Circle disclosed that $3.3-billion of its roughly $40-billion stockpile of reserves is held with Silicon Valley Bank, which has just become one of the largest US bank failures in recent history.

Circle disclosed that $3.3-billion of its roughly $40-billion stockpile of reserves is held with Silicon Valley Bank

Regulators seized the bank on Friday and investors are awaiting more clarity on the return of deposits. In that vacuum, USDC fell below $1. Smaller stablecoins like DAI, which is sometimes viewed as a proxy for USDC, and Pax dollar also fell from their pegs. DAI is the fourth largest stablecoin by circulation.

“DAI is not a safe haven in this regard because a lot of it is collateralised by USDC directly,” Michael Egorov, founder of decentralised exchange Curve Finance, said in an e-mail.

USDC had a circulating supply of around 40 billion tokens as of Saturday morning in New York, CoinGecko data shows. A net $2-billion of USDC was redeemed in the past 24 hours, according to blockchain research firm Nansen. Data compiled by Bloomberg indicated USDC traded as low as 81.5c.

By contrast, top stablecoin tether has held firm at or above $1. While tether has previously faced scrutiny over its reserves, it said on Friday that it did not have any exposure to SVB.

Painful

Wider crypto markets are having a painful week and were on the back foot Saturday: bitcoin oscillated between gains and losses, while smaller tokens like solana and avalanche were in the red.

Circle’s chief strategy officer Dante Disparte described the fall of Silicon Valley Bank as a “black swan failure” in the US financial system, saying in a tweet that without a federal rescue plan there would be “broader implications for business, banking and entrepreneurs”.

Stablecoins like USDC are intended to hold a set value against another, highly liquid asset like the US dollar. They come in a variety of forms and some, like Circle’s, are underpinned by reserves of cash and bonds. Investors often park funds in stablecoins as they move between crypto trades.

As the selloff in USDC worsened on Friday night, US-based crypto exchange Coinbase Global said it would be “temporarily pausing” the conversion of USDC into US dollars during the weekend and would resume on Monday when banks open. “Your assets remain safe & available for on-chain sends,” the crypto exchange said in a tweet from an official account.

Despite the turmoil, some see Circle regaining its footing. “USDC is going to be okay. It is resilient and well managed, with a capital structure stronger than most banks,” Oliver von Landsberg-Sadie, co-founder of BCB Group, which runs a payment network for crypto companies, said in an e-mail.

In the meantime, the fall in USDC has had a knock-on effect on decentralised finance applications that let users trade, borrow and lend coins and that tend to rely heavily on trading pairs involving the stablecoin.

“Unless there’s a concrete bailout plan this weekend, I think markets will be ugly again next week,” said Teong Hng, CEO at crypto investment firm Satori Research, about the failure of SVB.

The crypto sector was already reeling from a prolonged rout that’s knocked $2-trillion off the value of digital assets since November 2021, precipitating a series of implosions such as the algorithmic terraUSD stablecoin, the Three Arrows Capital hedge fund and the FTX exchange.

The terraUSD token — known as UST — tried to use a mix of algorithms and trader incentives involving a sister token, Luna, to hold its value. The $60-billion wipeout of that system intensified global regulatory scrutiny of stablecoins.

“I think the market ‘panic-priced’ USDC like it priced USDT around the Luna collapse,” said Haohan Xu, CEO of Apifiny, an institutional trading platform. “It’s driven by Circle’s exposure at SVB plus Coinbase closing off its USDC convert function.”

Crypto firms including Binance and Gemini on Friday used Twitter to try to reassure their customers about any risks posed by the failed bank.

Changpeng Zhao, CEO at Binance, the largest digital-asset exchange, tweeted that the firm doesn’t have any exposure and its funds are safe. Paxos Trust, issuer of Pax dollar, and crypto exchange Gemini said they have no relationship with the bank, according to statements on their official Twitter accounts.

By contrast, bankrupt crypto lender BlockFi has about $227-million in an account at the failed bank, according to a court filing.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Telkom Partners with Clickatell to Launch Mobile Messaging Payments in South Africa

March 13, 2023

Pieter de Villiers, chairman of SiMODiSA and co-founder of Clickatell.

Clickatell, the Chat Commerce and business messaging leader, has launched their Chat 2 Pay feature for South Africa’s largest integrated communications company, Telkom. Telkom’s millions of customers can now make payments in WhatsApp, the country’s largest chat channel.

Responding to the growing demand for fast, digital, self-help services, Telkom now deploys to its customers the Chat 2 Pay pay-by-link capability in WhatsApp, providing them with the convenience of safe and effortless mobile payments. Telkom postpaid and prepaid customers can pay their phone and xDSL/fibre bills, and buy airtime, data and SMS bundles by simply sending “Hi” on WhatsApp to 0811 601 700.

Currently, Telkom’s chatbot offers customers mobile support by accessing their accounts and billing information, plus allows them to view sales deals, check for mobile or fibre upgrades, do cancellations, and make directory inquiries and more. With the addition of Chat 2 Pay, customers benefit from a convenient and personalized service to pay bills and VAS top-ups via Mastercard and Visa debit and credit cards.

“User behaviour has shifted, and organizations are relying more and more on digital channels for revenue generation. But, asking customers to make payments through a different channel creates a break in the customer journey and challenges companies to convert sales,” said Werner Lindemann, Clickatell’s Senior Vice President Enterprise Sales, Growth Markets. “Payments in chat give telcos the tools they need to help their customers complete payments simply and safely in the channel they already know and trust, significantly boosting customer experience and revenue.”

With Chat 2 Pay, the payment process is exceptionally simple. Telkom customers can transact by simply making a menu selection to trigger a payment request. A link is then sent to the customer in a WhatsApp message. When they click on the link, they access a fully hosted checkout page. The customer then can securely enter payment details and submit, receiving a confirmation of the payment and receipt in a chat message.

“Telkom continues to look at ways to advance our customers’ digital experiences, and our digital channels are core for future delivery,” said Gugu Mthembu, CMO at Telkom. “Chat 2 Pay helps us optimize our payment channels and payment collection. What’s more, the ease of and availability of VAS services is expected to further boost revenue opportunities.”

“With 93% of conversations transpiring on Clickatell’s Chat Commerce Platform and ending in a transaction, Chat Commerce, including Chat 2 Pay, is especially relevant for telcos that are looking for new revenue channels and better efficiencies. Chat Commerce doesn’t just respond to your customers’ needs, it fulfils many of your shareholders’ needs too,” said Lindemann.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Wicrypt Wins $150k Global Prize, Passes 1k Hotspot Hubs

March 11, 2023

Wicrypt Network, the Nigerian based first standalone blockchain-based Wi-Fi sharing network from Africa, has won the Global Prize at the LEAP 2023 Rocket Fuel Pitch Startup Competition in Saudi Arabia, securing US$150,000 in prize money.

Founded in 2018, Wicrypt is a decentralised mobile internet sharing and monetisation network that allows anyone to get paid for sharing their Wi-Fi. Users download the Wicrypt app and provide Wi-Fi through their mobile device or by purchasing a unique, custom-built Wicrypt Hotspot Creator device.

Wicrypt CEO Aronu Ugochukwu — wicrypt ceo Ugochukwu Aronu

Wi-Fi providers can customise their customer experience through their Wicrypt dashboard by offering surveys, ads, and collecting customer data. Wicrypt-connected devices are all represented by unique NFTs that are linked to the blockchain. While Wicrypt hosts are paid by those accessing WiFi, Wicrypt also incentivises hosts through its native token, $WNT, for having high device up-time.

Disrupt Africa reported in November 2021 the startup closed a strategic US$1.5 million funding round to help it expand into new countries, since when it has established more than 1,000 hotspot hubs across the world. It has now secured further capital after winning the global prize.

“We started this company to solve a real internet access pain point for people in Africa and underrepresented regions,” said Ugochukwu Aronu, CEO and co-founder of Wicrypt. “It’s exciting to see that our technology is being awarded for making a difference in a practical way and not theoretically. Thank you to LEAP, Saudi Arabia, and the outstanding judges.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

AI-Generated Content – Who Owns the Copyright?

March 5, 2023

By Werina Griffiths

If a user were to provide an artificial intelligence (AI) program, such as ChatGPT, with a storyline and it produced a bestselling novel, would that novel be protected by copyright? And if it is, who would own those rights?

There has been an explosion of interest in AI platforms following the launch of OpenAI’s ChatGPT service, which attracted more than one million users in the first four days following its launch. Headlines that ChatGPT can make gift recommendations, debug code, pass an exam, as well as write essays, academic articles, comedy routines, recipes and even music, not only hold true but demand consideration of what is happening, how it is happening and what the potential implications are for IP rights and their owners.

ChatGPT is a chatbot technology, which means it is a computer program that uses AI and natural language processing to understand questions and then automate responses to them. Chatbots are powered by large amounts of data and machine-learning techniques that ultimately enable them to make predictions regarding the most accurate answer to the question, which is then formulated and provided to the user.

Werina Griffiths, is a partner at Adams & Adams — **Werina Griffiths**

One of the greatest benefits of copyright protection is that it comes into existence automatically

While the first of its magnitude, ChatGPT is not the only AI platform capable of generating content in this way. Prior to the launch of ChatGPT, OpenAI had already launched an AI graphics tool called Dall-E, which can convert text into graphics. One can only imagine that the possibilities for creators become endless if all that is required is a simple text prompt.

Traditionally, works created through the intellectual or creative efforts of the human mind are protected by the different forms of IP and, in particular, copyright.

Putting the theories to the test, the artwork accompanying this article (let’s call it, “The Robot”) was created using OpenAI’s Dall-E program by entering the text prompt, “A robot painting on canvas, expressionism.” Within seconds, the hype around the technology became very real when the result of the text prompt delivered something that is, at least in principle, certainly copyright protectable.

Protected

One of the greatest benefits of copyright protection is that it comes into existence automatically. The moment a work is created that qualifies for copyright protection, it is protected. Therefore, if AI-generated content satisfies the requirements for copyright to vest, it, too, could be protected – in which case, the rights in and to that work will belong to someone.

The Copyright Act in South Africa differentiates between the traditional authorial works (literary, musical and artistic) and such works that are “computer generated”. The Robot would qualify as a computer-generated artistic work. So far, so good.

The next step relevant to this discussion is to determine whether the work was “original” in its making, and to answer that question we have to consider the skill, effort and labour expended by the author in the creation of the work. AI-generated content has no human author, but South Africa’s Copyright Act dictates that the “author” of a computer-generated work is the person responsible for making the arrangements for the creation of the work.

The meaning of “making the arrangements necessary for the creation of the work” is not entirely clear and it is likely here that the debate will arise.

The first potential argument is that the developer of the AI could be the author, as defined, for having made arrangements that were necessary for the work to be created.

However, when it comes to programs such as ChatGPT, Dall-E and others that generate works by making independent decisions in determining what the work should look like, the results generated by the programs are not fixed, nor are they designed by the developer. In fact, the results cannot even be predicted or expected by the developer and depend in the first instance on something that is conceptualised by the user.

The proximity of the developer to the work created, as compared to the input of the user, leads to a second potential argument, which is that the user could be considered the person responsible for making the necessary arrangements for the work to be created.

Once the author has been identified, it is necessary to consider whether the author’s efforts in creating the work were sufficient to render the work original in its making, such that it will be protected by copyright. This will involve a factual enquiry around the making of the work in each instance.

The answers to the question of copyright ownership over AI-generated content are not straightforward and require careful consideration. While the technology gains speed and attention, and legal minds unpack its implications, the take-out would be to embrace the possibilities with the awareness that they are not risk-free.

As for The Robot, OpenAI’s terms currently state that any rights arising from the creation of works are assigned to the user subject to compliance with the terms of the user agreement. The terms also contain a licence in favour of OpenAI to continue using the content generated and a warning that the AI program may generate the same or similar output for other users given the nature of machine learning.

The Robot therefore finds itself in a position that is neither certain nor unencumbered, which points to the fact that the use of AI to generate content for commercial exploitation should be approached with extreme caution.

Werina Griffiths, is a partner at Adams & Adams

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Bybit and Talos Enter Partnership to Expand Digital Assets Trading for Institutional Clients

March 3, 2023

Bybit, the world’s third most visited crypto exchange, has announced a dynamic partnership with Talos, the premier institutional digital asset trading technology provider.

The integration combines the power of Talos’s robust trade infrastructure solutions with Bybit’s access to a wide array of digital assets and best-in-market enterprise solutions including trading execution with precision.

This partnership will enable Bybit to streamline access for institutions looking to get into the crypto space via the Talos platform. Additionally, this new collaboration will boost real-time liquidity, elevating the user experience on Bybit even further.

Bybit is the only integrated crypto exchange to experience steady growth in market share throughout 2022, claiming the no. 2 spot in futures and perpetuals trading several times year to date. In January alone, Bybit recorded its highest-ever market share in these derivative markets at 14.6%. These milestones have solidified Bybit’s position as one of the go-to cryptocurrency derivatives exchanges for institutional investors globally.

Bybit’s immense success is due in no small part to its robust institutional services, which include specialized loans, a unified trading account, API capabilities, high-power infrastructure, and its efforts in building a trusted brand with a commitment to security, third-party custodians, and real-time proof-of-reserves powered by a purpose-built Merkle Tree.

Built by the same engineers that built many of the most recognizable systems in capital markets, Talos’s highly-regarded, institutional-grade trading infrastructure offers a reliable and secure platform trusted by established market players and end-users. Talos also provides expert services ranging from trading to portfolio and settlement tools. Their solutions are available directly or through white-label partners all around the world, from the Americas to EMEA to APAC.

“Bybit understands the burgeoning demand for advanced trading solutions required by increasingly sophisticated institutions as they pursue growth opportunities in cryptocurrency. We are excited to partner with Talos to facilitate fast, trustworthy, and secure access to digital asset investments,” said Ben Zhou co-founder and CEO of Bybit.

“Bybit is on a mission to offer next-level opportunities across the board. This partnership will allow us to offer the tech needed for streamlined trading operations and bridge the gap between institutional investors and digital currency networks.”

“The partnership with Bybit allows us to further extend our execution capabilities for clients, providing them with expanded options to engage and transact with the top destinations in the industry,” said Anton Katz, CEO and co-founder of Talos. “At Talos, we’re always looking to expand our connectivity through smart integrations like the one we now have with Bybit. The robustness of offerings on Bybit provides our users with a broad range of execution functionality to enhance quality, depth, and breadth across their trade activity.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Multichoice Partners Comcast’s NBCUniversal And Sky Partner to Create Leading Streaming Service in Africa

MultiChoice to relaunch Showmax offering audiences the best experience with local and global entertainment, as well as live matches of the English Premier League (EPL) football

MultiChoice Group (MultiChoice) (JSE: MCG) and Comcast’s (NASDAQ: CMCSA) NBCUniversal and Sky today announced a new partnership that will bring some of the world’s best content and technology to streaming customers across MultiChoice’s 50-market footprint in sub-Saharan Africa, at a time when Africa is approaching an inflection point in terms of broadband connectivity and affordability. The new Showmax group will be 70% owned by MultiChoice and 30% by NBCUniversal. (*See Note). It will build on Showmax’s success to date and aim to create the leading streaming service in Africa.

Calvo Mawela, Chief Executive Officer of MultiChoice

Powered by Peacock’s leading, globally-scaled technology, Showmax subscribers will have access to an extensive premium content portfolio, bringing African audiences the best of local and international programming. The service will combine MultiChoice’s accelerating investment in local content with a unique pipeline of award-winning and critically acclaimed international content licensed from NBCUniversal and Sky, third party content from HBO, Warner Brothers International, Sony and others, as well as live English Premier League (EPL) football. The partnership will also provide access to all the best African content such as Showmax Originals and local content from MultiChoice’s proprietary channels including Mzansi Magic, Africa Magic and Maisha Magic.

Using a significant portfolio of global media assets and Peacock’s streaming platform, which finished 2022 with over 20 million paid subscribers in the US, NBCUniversal and Sky will provide ongoing support through the licensing of both technology and content.

“We launched Showmax as the first African streaming service in 2015 and are extremely proud of its success to date. This agreement represents a great opportunity for our Showmax team to scale even greater heights by working with a leading global player in Comcast and its subsidiaries,” said Calvo Mawela, Chief Executive Officer of MultiChoice.

“The new business venture deepens an already strong relationship and builds on the Sky Glass technology partnership that we announced in September last year. We believe we are extremely well positioned to create a winning platform going forward.”

Dana Strong, Group Chief Executive Officer, Sky, commented, “This new collaboration in streaming and content with MultiChoice, NBCUniversal, and Sky takes our partnership to the next level in one of the world’s most vibrant, fastest growing markets. Last year, we announced MultiChoice as a customer of the Sky Glass platform and now we are excited to help innovate its Showmax streaming service.”

Matt Strauss, Chairman, Direct-to-Consumer & International, NBCUniversal, added, “This partnership is an incredible opportunity to further scale the global presence of Peacock’s world-class streaming technology, as well as to introduce millions of new customers to extensive premium content from NBCUniversal and Sky’s stellar entertainment brands.”

Further details about the new Showmax service, including launch date, content and pricing will be announced at a later date.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry