I know, I know — it’s been a short while. Thank you for sticking around.

There are some exciting updates to share. Kindly read till the end.

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First came Facebook, then Twitter (?) and now Threads.

Social media has seen its ups and downs. Today, we’ll explore decentralised social media, current web3 social media platforms and what problems could potentially arise.

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It’s officially summer! (well, except you’re somewhere like Nigeria, where it almost always is).

We’ve explored the role blockchain plays in healthcare, music and even artificial intelligence (AI).

So what could blockchain possibly do for the travel industry? What advantages does it offer over traditional systems? Are there any real-world examples of these already?

Your guess is as good as mine.

How is blockchain used in travel?

Blockchain plays several roles in travel through the entire life cycle, from booking to landing.

More ubiquitous through online services and apps, using an agency to make a travel reservation seems the easier option. Until it’s not. Sometimes, it makes the process more expensive or uncertain, especially in cases of cancellations. So what if this could be avoided by choice? Because although there are valid reasons why we might use third-party platforms, a major one is convenience.

Blockchain provides a peer-to-peer model that allows travellers to interact directly with service providers in a decentralised booking marketplace. Indeed, thanks to smart contracts, tasks such as confirming bookings, payments and even refunds can be automated. There’s no need for a middleman, which delays the process.

Because if you’ve also ever known the pain of paying the high fees for a plane ticket only to have the transaction bounce, hanging somewhere in thin air, neither with the bank nor the airline — this is for you. In addition, blockchain via crypto ensures the transparency and reliability of payment transactions.

There’s also the secure storage of traveller data on the blockchain. You might not immediately realise, but an obnoxious amount of personal information goes into travelling. Whether it’s from our passports or whatever form of valid identification. Blockchain-based platforms can streamline identity verification processes. Travellers can securely store their personal information on the blockchain, allowing service providers to access and verify their identities without sharing sensitive data.

Blockchain technology can even be used to track luggage to prevent losses.

So with scalability and mass adoption issues, to name a few, is this integration possible? These companies below think so.

What are some examples of blockchain travel companies?

Take Travelport, for example. In 2018, they partnered with IBM Technology to implement blockchain into their operations.

They developed Traveller ID in collaboration with IBM to improve the security and efficiency of the identity verification process for travellers. By storing this info securely on the blockchain, they helped travellers to manage their personal info while maintaining data privacy.

But if this is the plant, an ecosystem such as Camino Network is the full-blown tree. Trusted by over 140 industry leaders, including the airlines Eurowings and Lufthansa, Camino sets the stage for a range of web3-enabled travel apps and services.

Here’s a quick run-down of what they do: by using the Camino token, the platform is tailored specifically for the travel industry. One of the ways this is achieved is by leveraging blockchain technology to create a more refined data management by non-fungible tokens (NFTs). With NFTs, details such as flight pass etc, can be stored in a decentralised manner as a unique digital token.

With blockchain and travel, there remains a lot to be seen and done.

But I guess it’s safe to say: the next frontier of travel is taking off. Strap in!

🟣 Pick of the week!

The World Health Organisation raises concerns over AI? Um okay.

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Last weekend, I had an epic VR experience.

And in light of Nigeria’s recently sworn-in president, I couldn’t help but think about the concept of governance as a whole.

Before I knew it, I had started to create a mindmap between both concepts — the metaverse (inclusive of VR) and governance. Particularly, who takes accountability?

I didn’t have all the answers. So for today’s post, I reached out to a dear friend of mine who’s a legal expert and asked for her immediate thoughts.

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This enlightening and versed video by Don Tapscott on blockchain’s effect on money and business.

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Our limited-edition merch!

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From gramophones to CDs to Spotify, our medium of listening to music has also evolved. But if only we could go beyond listening to tangibly owning these melodies.

It appears there is a way.

Let’s explore that today…

Owning a piece of music

On the 12th of February, we witnessed the most anticipated Super Bowl halftime performance. For her much-awaited comeback, Rihanna I-need-no-further-introduction Fenty dazed the crowd and made an interesting announcement.

But she wasn’t the only one who made a comeback.

Her hit song ‘B-ich Better Have My Money’, which she opened with, also went viral.

This was the perfect chance for Jamil Pierre, a co-producer of the song, to cash out. See, ahead of the performance, he had put up his royalties of the song for sale as NFTs. Following the sale, another 0.99% of his royalty rights got redistributed to over 200 people via Ethereal NFTs on the platform AnotherBlock. That’s a lot of percentages!

Yet each tiny percentage granted each NFT owner rights to the song and assured them lifetime ownership of that portion of the copyright.

In fact, AnotherBlock’s mint was said to have raked in $63,000 in revenue. Woah.

There are also startups like Corite, that allow fans to invest in their favourite artists via blockchain technology. This works by inviting fans to donate toward a new release via crypto, creating music and then sharing the revenue.

And with blockchain technology, there’s the assurance that an accurate record of these transactions will be kept. Smart contracts also help ensure that the established rules of engagement are enforced.

Other use cases

While some have also utilised NFTs as a way to sell concert tickets, others have also created collectables and memorabilia around their musical performances.

Perhaps the most heartwarming use case is how this allows for a deeper connection between the artiste and their following.

For example, Bnxn (formerly known as Buju) launched an NFT project last year to build a community around his deepest fans, which doubles as a way for them to earn a share of his streaming revenue.

In essence, the middleman is removed, resulting in a direct value shared between the artist and her audience.

So what will blockchain do to the business of music? Only time will tell. But to the fans, perhaps it’s nice to have a slice of the musical cake.

🟣 Pick of the week!

You can now receive donation payments via crypto? Um, sign me up.

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Bloopers at the end 🤭

I came across the news on how the ‘Godfather of AI’, Geoffrey Hinton, is doing a 180. The 75-year-old OG in AI & deep learning has concerns about the serious risks he now believes may follow this technology, which he’s been a huge part of.

I wondered — what have we humans unleashed?

Personally, I’m bored of the meandering AI narrative: we shift from awe to fright and back to awe again. The headlines either read, “AI will entirely change the world” or “AI will kill us all” with no in-between.

So who should we really listen to?

🟣 Pick of the week!

Some stunning, non-AI-generated photography.

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not sensible

Can A Digital Nation Be Created?

If I said these words to you — digital country — what would immediately come to mind? Do you picture a nation built in the clouds, lofty, tucked away from the hustle and bustle of mundane earthly living? Or do you imagine all of us as digital avatars, going to work and visiting loved ones within the…

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3 years ago · 4 likes · Ojuolape

🟣 Pick of the week!

This blogpost that attempts to answer the Ultimate Crypto Supremacy question.

And who can blame us?

As a collective, it feels like we’ve all lived multiple lives already. For Gen X, it was a pre-mobile phone existence. For millennials, it was a pre-social media era. And now, for Gen Z, it’s pre-AI.

But something about this time feels more urgent, more hurried. What are we racing away from? Moreso, what are we racing toward?

I decided to juxtapose two distinct and giant technologies: artificial intelligence and blockchain technology.

What could happen if they collided?

Use cases for AI + Blockchain

I came across a handful of use cases for this dynamic duo. Still, a common thread I noticed was the use of the analytical skills of artificial intelligence working closely with blockchain’s transparency and security.

Blockchain provides the framework of a secure and immutable record of transactions and information. On the other hand, AI will help to identify patterns that can be used to optimise the overall process. Efficient.

Ocean Protocol is attempting to achieve something similar. As a decentralised data exchange platform, they use blockchain and AI to ensure the secure sharing of data.

There are also claims that we can utilise the blockchain to create decentralised marketplaces. At the same time, AI can provide personalised recommendations, similar to how ChatGPT can be prompted with specific nuances.

An example of this is SingularityNET, which is a decentralised AI platform that uses blockchain technology to create a global marketplace for AI services in different areas such as finance, robotics, biomedical AI, media, arts and entertainment.

There’s even Neurochain AI, which is a community-based AI on its own blockchain which offers high-quality data. For them, the community earns as AI learns.

Perhaps this is just the tip of the iceberg. There are still use cases we’re not even aware of because, well, we don’t realise we need them yet. Imagine using AI to analyse medical data records to observe patterns while blockchain ensures those records are kept safe in the first place.

But with the increasing scrutiny around these technologies (whether it’s full data privacy or environmental concerns), there’s clearly utility in this merge.

One thing’s for sure, as these technologies continue to mature: we can expect to see more exciting advancements in the future. Only time will tell.

🟣 Pick of the week!

This web3 newsletter by called Faces of Web3.

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So you might not know this (or maybe you do), but I have a not-so-distant past life as a medic. And one of the things that got me intrigued by blockchain technology as a whole is its use case within healthcare.

I came across an infographic by a research institute that does a good job of listing current areas of need in healthcare as a whole, but here are two that stood out to me.

Mentioned links:

I. The research paper: https://www.blockchainresearchinstitute.org/project/reinventing-healthcare-on-the-blockchain/#

II. If Money Exists, Why is Crypto a Thing?

not sensible

If Money Exists, Why is Crypto a Thing?

We’re watching our favourite TV show, and mid-laughter, I randomly hand you a blank piece of paper. What would be your reaction? Shock? Confusion? Mild irritation? But what if that piece of paper was a £50 bill? Yeah. Now we’re talking. Money. It’s said to make the world go round…

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4 years ago · 16 likes · 4 comments · Ojuolape

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This ongoing campaign to win N100k by our partner, Busha. Hurry, it closes at the end of April!

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not sensible

Crypto as the Root of Evil: Part II

I. Pop quiz: What does an aspiring rapper and a tech entrepreneur have in common? The perfect crime. Well, almost perfect. Earlier this year, a young married couple appeared in a federal court. Charges: attempts to launder money from a previous 2016 BTC hack worth over $4.5 billion at the time they were arrested. They’re not being charg…

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4 years ago · 4 likes · 2 comments · Ojuolape

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Our limited-edition merch!

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You can wake up one morning, scroll through your socials and come across unprecedented occurrences.

For example, on the 15th of February this year, a Colombian court held a court proceeding in the metaverse, its first of a kind.

The 2-hour hearing for a traffic violation had its participants present as avatars in a virtually constructed courtroom. Magistrate Maria Quinones Triana presided over the court, or at least her avatar did (pictures below).

Depending on who you are, this scenario will evoke an array of emotions: excitement, nervousness, a deep-rooted but previously-unperturbed sense of apocalypticism.

In a previous episode, we explored the inclusivity of the older generation when designing technology. So how about questions on the ethics of our increasingly digital existence?

What does it all mean?

Innovation is fun and daunting.

Perhaps when we think of ethics, an image of the scales of justice comes to mind (a blindfolded and impartial woman inclusive).

But ethics on the internet (generally in tech) is a broad term.

“Tech ethics involves considering how technology extends or curtails the power of individuals and how standard ethical questions are changed by these new powers, from the conception of an idea to a shipped product.”

It’s simply this: ensuring a morally right relationship exists between technology and its users.

But the very nature of breakthrough technologies is disruption.

While innovation is fun, it contrasts already-outlined ethical considerations, which are inherently safe and stable. And so, a natural push-and-pull dance ensues. What will give?

A significant concern raised by a policy expert at the virtual hearing was access to justice and equity: how readily accessible is this technology, and not just in terms of availability?

Another was the seeming loss of one of the little joys that tie in our shared human experience: stolen smiles and glances in the form of subtle visual cues and nuanced body language. Because how perceptible are these behind a metaverse avatar?

What if we could start all over?

At the recently concluded Paris Blockchain Week Summit 2023 (which was held between the 22nd and 23rd of March), the concept of ethics in technology was a significant talking point. And for good reason. The panellists unanimously acknowledged that in technology, innovation tends to come before ethical and safety standards are considered and implemented.

Take the rapid artificial intelligence (AI) wave, for instance: a high-profile group (Elon Musk inclusive) are pushing for a slowing down of “giant” AI advancements.

Can advanced technological pursuits, such as the metaverse, rely on the ethical protocols of their predecessors? Probably not; even the predecessors aren’t doing so great.

We’ve wrestled with moral and ethical codes for aeons, but this won’t stop the drive for advancement.

So what should we be doing differently?

Perhaps we need new approaches altogether. Because verbal harassment on web2 is one thing, but a simulated almost-real one in the metaverse triggers a whole new level of trauma.

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🟣 Pick of the week!

This post by on progressive decentralisation for media. A compelling perspective.

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The other day, I asked ChatGPT: “Do you have emotions?”

Its response amused me and led to this short chat with you.

P. S., its response “radio” voice was totally done by me.

Okay, enjoy!

Oh & also…

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🟣 Pick of the week!

This meme posted by Elon.

Celebrating moms! 🎉

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not sensible

Why Art Has Utility, Actually.

I. The year is 1467*. In a small town in Italy, a father to a reserved and creative 15-year old boy sends him to be apprenticed under an artist. Little did they know this singular act would drastically turn his life around, forever. This boy grows up to become…

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4 years ago · 8 likes · 7 comments · Ojuolape

Whether it’s horrible bosses & where to find them, the wave of massive layoffs or the most recent Silvergate Bank debacle, there’s no shortage of drama in the tech scene: in Nigeria, in Africa, globally and probably the entire Milky Way galaxy.

So what the heck is going on?

Join Ojuolape & her guest, Abraham, an independent digital economy researcher and technology journalist/commentator.

*This transcript has been edited for length and clarity.

Ojuolape Kuti: I’ll start with what we’re all thinking: is the tech ecosystem always this chaotic?

Abraham Augustine: Haha well, I guess you could say it’s more like a cycle. The tech ecosystem, as we know it today, is relatively new.

There’s a lot of acceleration in the ecosystem because of the venture capitalist model of business, where there’s an incentive to make profits and make it fast. Unlike SMEs that grow 1-2% yearly, a VC-backed company might want 25% monthly. It’s reminiscent of the 2000 dot-com bubble or the 2008 crisis. Between that time and now, things have been relatively less dramatic and quiet.

But with this acceleration and growing attention came the saying, “tech is the new oil”. The problem with hype, however, is that it’s hard to live up to. When anything goes mainstream, there’s the tendency to find bad actors who misbehave. We’ve seen stories of founders overspending on personal expenditures while making minimal revenue.

The current issues in tech are not unique to Africa, however. It’s a global thing. In all fairness, factors beyond our control also contribute. For example, there was the zero-interest rate by banks, which allowed investors to borrow and invest, knowing they wouldn’t have to refund the bank with interest. This deepened in 2020, creating a pool of funds that needed an outlet for profits. In the last two years alone, Africa has raised more money than the past few years combined. Putting money into tech in Africa was relatively cheaper (exchange rates, cheaper capital etc.).

But then, the Feds raised rates. You can imagine what happened next.

Ojuolape: I find it interesting that you mention how Africa got a lot of attention there. Practically, is tech really doing anything for Africa?

Abraham: I’d say overall, it is, and it’s a net good. Are there areas to be criticised? Sure.

Take Kenya, for example, with M-Pesa (a mobile banking service): it’s not without its flaws, but it also meets needs. 

Beyond financial inclusion, we’ve seen the impact on food & agriculture, recreation and government services. In Rwanda, it’s easy to access government services online, reducing the surface area for corruption because it’s automated.

Ojuolape: Do you think the African market is well primed for more seemingly complex concepts like web3 & AI?

Abraham: The broader thing is that we must be ready even if we’re not. With AI, for example, it’s coming, it’s here. For web3, Africa is not only prepared, but we’re already players. Although careful with crypto, I’m a fan of stablecoins and what they can do when done right.

Stablecoins help with cross-border payments but with limitations because that problem is fundamentally political. Because of the instability of policies (financial or otherwise) that tends to be common in African countries, it also means if I were a Ghanaian, I wouldn’t want to hold Naira as it fluctuates in value. A stablecoin is not a magic wand that can wave that away.

Ojuolape: Asides from fintech, what other industries do you think need attention?

Abraham: While it’s true fintechs shouldn’t get all the attention, they’re more VC-backable. Here’s what I mean: these startups tend to scale faster. An example is putting capital in a farm prone to excessive pre- and post-harvest food losses, which can never be recovered and slow down overall company growth.

But there are other types of funding available for these other industries.

Also, VCs don’t fully understand how these other spaces work in Africa. Excel sheets are easier with finances and not so much for solving how an unplanned tropical storm in Malawi can disrupt farming activities.

So we can complain, or we can go help with the understanding of these markets.

Ojuolape: What are you excited about or looking forward to in the African tech space?

Abraham: I’m interested in how the food market space shapes up. In East Africa, there’s a growing use of agents for e-commerce.

I’m also looking forward to overall digitisation: agriculture, supply chains, education, etc. It’s all a work in progress.

Ojuolape: Bonus fire section: what’s something you’ve been loving recently? (song, article, book, podcast etc.?)

Abraham: The Key Man: How the Global Elite was Duped by a Capitalist Fairytale by Simon Clark and Will Louch is one book that helped me see the world of finance for what it is and introduced a much-needed dose of scepticism/ cynicism to my formerly rose-tinted glasses. Highly recommend.

Find Abraham on Twitter.

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In 1972, a behavioural professor of psychology realised something:

Attaching an otherwise non-practical token (or asset) to a desired behaviour changed the patient’s conduct.

This later became generally known as token economy, a part of the larger concept of operant conditioning, attributed to the same renowned psychologist B.F. Skinner.

I can’t help but see the correlation here.

See, the recipient isn’t really interested in the asset itself but in what it can do for them.

Curious, I wondered: what really gives a coin its value? Can it be measured? Is it solely about the monetary profits?

What’s Tokenomics About?

A basic rule in economics is how demand affects supply, which in turn, affects the price.

With tokens, supply can be divided into 3 main categories: circulating supply [how many tokens are currently being used], total supply [how many tokens have ever been used, in addition to current use] and maximum supply [how many tokens will ever exist]. For example, Litecoin has a maximum supply of 84 million that’ll ever be mined, while ETH, on the other hand, currently has no cap.

The logic then follows that, naturally, Litecoin should be more valuable.

Right?

Wrong.

Because this is life, and when is anything ever that straightforward? This is where tokenomics comes in.

I’d say tokenomics is the art and science of a token’s lifecycle.

Technically, a token is a digital unit of value that exists within a blockchain project. It has various differences from a crypto coin, one of which is that tokens are not solely for spending. For example, governance tokens are used for voting within a project. Thus, all cryptocurrencies are tokens but not vice versa.

Several factors determine tokenomics: supply, token velocity, overall monetary value [market cap] etc. But while all these factors are essential, if I had to pick one, it’d be this:

Utility.

What you want is a set of customers (aka buyers) that have a vested belief (let’s call them the As) in the project beyond a monetary motive (the Bs). The Bs mostly wanna make a quick buck (hey— no judgements here), but this has the unfortunate side effect of pushing prices to become too volatile. Because the more dominated by Bs the project/platform is, the more all participants are susceptible to a price bust.

Utility is one factor that makes us stick around in a raging bear market, and there’s panic everywhere else.

What I’m saying is this: in the mystical land of tokenomics, utility is king.

Or maybe making money is more important. In which case, you know what? Scrap literally everything I just said.

🟣 Pick of the week!

This comprehensive guide on how to DYOR [do your own research], to which tokenomics is merely a subset.

Which of these are AI myths you can debunk?

Reference read:

not sensible

Is AI Taking Our Jobs?

In 2013, a research paper predicted that low-skill workers would have to acquire tasks considered non-susceptible to computerisation, such as creative and social skills. Almost a decade later, the goalpost has shifted. Artificial intelligence (AI) has gained more exposure recently, especially generative models. But as it progresses, what will it mean for…

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3 years ago · 6 likes · not sensible

🟣 Pick of the week!

This thoughtful piece by who muses on the intersection between blockchain and AI.

Listen here:

It’s everywhere we turn: generative artificial intelligence.

Recently, I got a notification on Notion that I could now generate content using their AI integration. Not long after, my browser (Microsoft Edge) also prompted me to join their waitlist for the new ChatGPT-enabled Bing search engine.

But this had me thinking about the elephant in the room?

No, not the one on if AI will take away creative jobs.

What about copyright?

Who owns the creative rights to whatever is created: me, you, ChatGPT, Microsoft?

Let’s chat about that in today’s audio post above.

🟣 Pick of the week!

Excerpts from this Every article that asks, Can GPT-3 Explain My Past and Tell My Future?