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After Paying N5m For Appearance, Nedu Manipulated Me To Say ‘Things’ On His Podcast — Nwokolo
AFOLABI
Nigerian model and Mr Nigeria 2024, Ugo Nwokolo, has revealed that he paid N5 million to appear on ‘The Honest Bunch’ podcast, hosted by On Air Personality (OAP) Nedu Wazobia, only to be manipulated into making controversial statements to drive traffic for show online.
Recall that Nwokolo had in January faced a backlash over his controversial statement on The Honest Bunch that he was attracted to poor girls.
But, speaking in an interview on Lucky Udu’s podcast, Nwokolo revealed that he initially sought the podcast as a platform to discuss ‘eradicating classism and fostering an egalitarian society’ ahead of representing Nigeria in an international pageant in Poland. However, he alleged that Nedu dictated the narrative for virality, pressuring him to adopt a more sensational approach.
He also said that Nedu made a reference to a social media personality Saidaboj, whom he claimed he popularised through the show, adding that he was also asked to mention the name of a social media critic, VeryDarkMan, in the course of the show.
“Nedu told me, ‘This thing wey you dey talk na big grammar. Nigerians are dumb, they don’t like people that sound intelligent. You are not Peter Obi. For your message to fly, you have to sound dumb,’” Nwokolo said, adding that he reluctantly agreed due to his inexperience in media.
Days before the recording of the show, he alleged that Nedu introduced a ‘last-minute co-guest’ despite their agreement for a solo appearance. After some negotiations, he was promised a N2 million refund, which, he claimed, never materialised.
On the day of the podcast, Nwokolo said he asked to review the discussion flow but was instead pressured to make a sensational statement. “Nedu insisted, saying, ‘This is my program, and I call the shots.’ He even told me I had to mention VeryDarkMan to make the show trend,” he said.
According to Nwokolo, Nedu specifically instructed him to say, “Poor girls turn me on. The poorer the girl, the more attracted I am to her.” Nwokolo said he initially resisted but eventually agreed due to financial constraints, having spent money travelling from Abuja to Lagos for the show.
Following the interview, Nwokolo said he faced severe public backlash, with some branding him manipulative, controlling, and even a ritualist. “I take full responsibility for my actions, but I was forced and manipulated into making that statement,” he admitted.
He described Nedu as a new discovery of manipulation saying, “In my lifetime, I’ve met Manipulators, Narcissists, Gaslighters and I’ve met scammers, but Nedu is a discovery.”
Describing the experience as a hard lesson, Nwokolo expressed regret over trusting Nedu’s advice, stating, “Before we started, he told me, ‘Even Saidaboj, I told her what to say, and now she’s popular.’ I believed him, and that’s how I found myself in this mess.”
Thirty-two years after the famous annulment of the June 12 presidential election in Nigeria, former military president Ibrahim Babangida has disclosed that the annulment of the election was done for “national interest.”
Naija News reports IBB made the disclosure on Thursday, 20th February, 2025 in Abuja, during the launch of his autobiography, titled “A Journey in Service.”
According to him, the decision to annul the election, which was widely believed to have been won by businessman, Chief Moshood Abiola, as a candidate of the Social Democratic Party (SDP), was taken in national interest and survival of the country.
“As the leader of the military administration, I accept full responsibility for all decisions taken by me. And June 12 happened under my watch. Mistakes, oversights, and missteps happen in quick succession but I say in my book, in all matters, we acted in extreme national interest so that Nigeria could survive,” the former military president said at the event.
I Regret The Interruption Of Democracy
Babangida disclosed that he regrets that Nigeria couldn’t return to democracy under his watch, but added that what has been achieved thereafter is a testament to the resilience of the country and its citizens.
“Our nation’s march to democracy was interrupted, a fact that I deeply regret. But Nigeria survived and democracy is still alive, a testament to our resilience and commitment to progress. This book is part of my personal story with national history,” Babangida added.
Mohbad’s Best Friend, Prime Boy, Drags Mother Of Late Singer To Court, Demands ₦50 Million In Damages
AFOLABI
Fasting rising singer, Owodunni Ibrahim, popularly known as Prime Boy, has sued the mother of his late best friend, Mohbad, Abosede Adeyemo, to court over alleged defamation.
Naija News reports that Prime Boy shared the legal document filed at the High Court of Lagos State, Ikeja, via his Instagram page on Wednesday, February 19 2025.
Prime Boy sued Abosede for allegedly making libellous and malicious remarks about him in a video interview on March 28, 2024.
According to the document dated February 12 2025, Abosede’s comments, published in several news media, were designed to defame him in the eyes of members of the public.
Prime Boy further claimed that Mohbad’s mother is liable for ₦50 million in damages for the libellous, injurious, falsehood, and malicious statements made against him.
In other news, the father of the late Mohbad, Joseph Aloba, has expressed reservations about the police officers investigating the death of his son.
Naija News reports that it is almost one year and five months since Mohbad passed away, and his father has continued to advocate for justice for his late son.
In an interview with BBC Pidgin on Wednesday, Joseph revealed that the police asked him to ignore the call for justice and lay his son to rest.
Mohbad’s father called on the government to take over the case, stressing that he has the right to know the circumstances surrounding his son’s death.
An Ogun State Magistrate’s Court, sitting in Isabo area of Abeokuta metropolis, on Thursday, admitted controversial singer, Habeeb Okikiola Olalomi, popularly known as ‘Portable’, to a bail of N2 million.
Portable, who was brought to court by the Police, was arraigned on a five count charges bothering on conspiracy to commit felony; unlawful assault on government officials while on official duties, as well as illegal possession and display in public of dangerous weapons, which included guns and cutlasses, to cause terror, among others.
The ‘Zaa-zoo-zeh’ crooner, who was arraigned in a suit number: MA/192C/2025, however, pleaded not guilty to all the charges in the Court presided over by Magistrate O. L. Oke.
Singer Portable Arraigned In Court Over Alleged Assault On Ogun Gov’t Officials
Nine of his proteges were earlier on February 6, 2025, arraigned for similar charges.
The nine other suspects include Nurudeen Warris, 21, Adetola Alashe, 25, Samuel Adeleke, 28, Oluwaseun Ayenuwa,19, Oluwapelumi Adeosun, 20, Gospel Kanu, 20, Precious Ohiegebo,19, Ifeoluwa Babatunde, 27, and Fatimo Muhammed, 26.
They allegedly assaulted, restricted and obstructed one Abidemi Onabanjo, Ramon Lateef, Akinpelumi Oyero, who are Town Planners in the employ of the Ogun State, from carrying out their lawful duties.
The singer and other defendants allegedly assaulted the three town planning officers while performing their lawful duties at Odogwu Bar, owned by the hip-pop musician.
After pleadeding not guilty to the charges, his counsel, Oluwatoyin Ayodele, urged the court to grant the singer bail.
Ayodele assured the court that the suspect “is now remorseful and has learnt his lessons.”
Magistrate Oke subsequently granted Portable a N2 million bail with one surety in the like sum and consequently adjourned the case till March 5 for trial.
In a decisive move to maintain economic stability, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has unanimously voted to keep all monetary policy parameters constant.
By that decision, the committee voted to retain the Monetary Policy Rate (MPR) steady at 27.50%; asymmetric corridor at +500 to -100 basis points; hold credit reserve ratio of deposit money banks at 50 per cent, and merchant banks at 60 per cent. MPC also held liquidity ratio constant.
The decision is a departure from the CBN’s approach throughout 2024, during which the MPR was incrementally increased to address rising inflation, culminating in the current rate of 27.50% established in November.
CBN Governor, Olayemi Cardoso, announced this decision during a media briefing following the MPC’s first meeting of 2025 on Thursday, emphasising the need for a consistent policy stance amid ongoing economic challenges. He attributed the decision to the prevailing economic variables, especially the rebased inflation figure.
The National Bureau of Statistics (NBS) recently reported a decline in Nigeria’s headline inflation rate to 24.48% year-on-year for January, a significant decrease from the previous month’s 34.80%.
The improvement was largely attributed to a rebasing exercise that updated the base year from 2009 to 2024, providing a more accurate reflection of current consumption patterns.
“As always, we are data-driven. What we have is a CPI which is more reflective of the consumption pattern. To that extent, one commends the NBS for bringing this to reality,” Governor Cardoso stated.
He noted that the rebased inflation reflects the true position of the nation’s inflationary position and in line with international best standard. Despite the positive shift in inflation figures, the MPC opted to maintain the current MPR to ensure sustained economic stability.
Cardoso said CBN will continue to monitor both domestic and global risks to the Nigeria economy with a focus on mitigating the risks to Nigeria.
How A Woman Who Claimed God Told Her That I Am Her Husband Threatened To Kill My Wife – Adeboye
AFOLABI
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has shared a chilling encounter with a woman who persistently claimed that God had ordained him as her husband.
Speaking on Wednesday at the grand finale of the 2025 Special Victory Hour programme, Pastor Adeboye narrated how the woman, a senior official at the West African Examinations Council and a married mother, unexpectedly walked into his office with the bizarre declaration.
“Several years ago, a woman just woke up one morning, came to my office, and said, ‘God has told me that you are my husband.’ I said, ‘How can God tell you that? I am a pastor, happily married.’ She herself was married, and from the look of things, she might even be older than me,” Pastor Adeboye recalled.
Despite attempts to reason with her, the woman remained resolute, even going as far as threatening the life of his wife, Folu Adeboye.
Concerned for his family’s safety, he sought the intervention of her husband, hoping to resolve the situation. However, she refused to relent.
“We sent for her husband, but she didn’t change. We brought the matter to the police DPO, and they told her to stop coming to the camp. She said, ‘You are joking.’ She told my wife, ‘If you don’t allow me to marry him, I will kill you.’ This was not a joke—demons have been around for a long time,” he explained.
Stalked To London
The unsettling episode took a more disturbing turn when Pastor Adeboye travelled discreetly to London to work on a Sunday School pamphlet, only to be tracked down by the same woman.
The RCCG General Overseer said, “Then one day I went to London to prepare our Sunday school pamphlet. I told nobody I was coming. Nobody knew I wanted to do the work quietly, that’s why I went.
“As soon as I got into the house in London, the phone rang. When I picked up, she said, ‘Welcome. I’ve been waiting for you. I will be with you in the next few minutes, I’m at the next bus stop.’”
Shocked by her persistence and how she managed to locate him, Pastor Adeboye sought divine intervention.
“I had to threaten her with the police, and unlike Nigeria, the police there cannot be settled. Then I turned to the Almighty God and asked, ‘What is this?’ God said, ‘As long as you allow the mountain to stay, the mountain will stay.’ So I prayed a simple prayer. I don’t know how it happened, but they brought her body back to Nigeria,” he concluded.
The former military leader, General Ibrahim Badamasi Babangida (IBB) has disclosed that the late Chief Moshood Abiola was the rightful winner of the presidential election held on June 12, 1993.
Naija News reports that IBB made this revelation in his autobiography, titled “A Journey in Service,” which was launched in Abuja on Thursday, February 20, 2025.
During the book review conducted by former Vice President Prof. Yemi Osibanjo, Babangida stated that MKO Abiola, who ran for the presidency under the Social Democratic Party (SDP), garnered both the highest number of votes and the necessary geographical distribution to assume the presidency.
He characterized the annulment of the June 12 election as the most difficult period of his life.
“There was no doubt in my mind; MKO Abiola won the election. He satisfied all the requirements,” he said.
IBB expressed his satisfaction that President Muhammadu Buhari recognized Abiola as the rightful winner of the election and bestowed upon him the esteemed national title of Grand Commander of the Federal Republic (GCFR), a title typically reserved for presidents.
Meanwhile, former president of Nigeria, Goodluck Jonathan, has described former military leader, Ibrahim Babangida as one of the charismatic leaders in the country.
Jonathan shared his admiration in Abuja on Thursday during the launch of a book by Babangida titled, ‘A Journey in Service”.
He hailed Babangida over the launch of his memoir and insisted that Nigeria’s history is incomplete without the former military leader’s story.
He said, “So, Ibrahim Bagandiga as we all know, is one of the most charismatic leaders in this country. He is somebody that, up to date, people go as if they are going on a pilgrimage to consult him. We thank God for giving him that grace and the wisdom to continue to mentor people.
“In terms of leadership, Nigerians know you have contributed significantly in terms of the infrastructure development of this country and social mobilisation. We cannot write the history of Nigeria without dedicating a reasonable part to your service as the president of Nigeria, You’ve done well!”
According to him, with the launch of the book, the former head president has contributed immensely to the documentation of the country’s rich history.
There was a mild drama on Wednesday as a standoff over seating arrangements led to a heated exchange between Senator Natasha Akpoti-Uduaghan (PDP, Kogi Central) and the senate leadership.
Trouble began when Senator Natasha’s seat was relocated upon resumption of the session presided by the Senate President, Godswill Obot Akpabio, but she refused to comply with the change.
The Chief Whip, Senator Mohammed Ali Monguno drew the attention of the Senate President to “Senator Akpoti-Uduaghan’s improper seating position of the lawmaker.”
Upholding this position, Senate President Godswill Akpabio ruled in favor of the order. However, when Senator Natasha raised her hand to speak, she was denied recognition because she was not addressing the chamber from her newly assigned seat.
Refusing to back down, Senator Natasha raised her voice in protest, directly confronting the Senate President.
“I don’t care if I am silenced. I am not afraid of you. You have denied me my privilege,” the Kogi lawmaker said.
The lawmaker also accused Akpabio of sidelining her, stating that she had been denied several opportunities to present bills for a second reading since their last confrontation.
The argument added an unexpected layer of drama and tension during the plenary. The Senate President even ordered the sergeant at arms to walk the Kogi Central senator out, but after the intervention from various lawmakers, calm was restored but she adamantly declined to move.
[DailyTrust]
Former President Olusegun Obasanjo has advised former military President and Head of State, General Ibrahim Badamasi Babangida to expect diverse criticism of his new literary work – “A Journey in Service”.
He disclosed this on Thursday in Abuja while declaring open the public presentation of the book and fundraising for a presidential library to be built in Minna, Niger State capital.
Obasanjo, who was the chairman of the occasion commended the efforts of the former military tactician in writing the book, stressing that Babangida has not only contributed to history-making, he has contributed to documenting history.
He stated: “You have not only contributed to history, you have contributed documenting to history.
“It is an important part of our nation-building to keep accurate records. Please don’t be unduly worried about critics and put him down syndrome.
He then advised Babangida to expect a wide range of criticism over the book.
According to him, “The book will be reviewed, read, quoted, praised and lambasted, and some will agree with you in part, and some will disagree with you in part, some may even wholly disagree with you. Why should you write the book? It is self-glorification. They will say. Controversy may even develop. It’s all good for you and good for the book and our nation-building process, the more praised and condemned the book is, the better because it means that it is being read.
“Please don’t be unduly worried about critics and put him down syndrome. It may even be an indication of success but take note of objective criticism. You should expect a reaction galore. The reaction will be good, bad and ugly.”
[TheNation]
Former military Head of State, Ibrahim Babangida, on Thursday, expressed regret over the annulment of the June 12, 1993 presidential election, describing it the most difficult period of his life.
Babangida said this at the official launch of his memoir, ‘A Journey in Service,’ in Abuja.
He said, “Undoubtedly credible, free and fair elections were held in June, on June 12, 1993.
“However, the tragic irony of history remains that the administration that devised a near-perfect electoral system and conducted those near-perfect elections could not complete the process.
“That accident of history is most regrettable. The nation is entitled to expect my impression of regret.
“As a leader of the military administration, I accept full responsibility for all decisions taken under my watch.”
He added, “And June 12 happened under my watch, mistakes, oversights and missteps happened in quick succession, but I say in my book, in all matters, we acted in the supreme national interest so that Nigeria could survive.
“Our nation’s march to democracy was interrupted, a fact that I deeply regret. But Nigeria and democracy is still alive, a testament to commitment.”
Former Vice President Yemi Osinbajo also rehashed Babangida’s words while reviewing the book.
“June 12 elections was the most challenging of my life. If have to do it all over again, I’ll do it differently,” Osinbajo said quoting a section from the book.
The book, which offers insights into key moments in the country’s history, also addresses other national controversies, including the 1976 coup attempt that led to the assassination of then-Head of State, Murtala Muhammed, and the 1986 letter bomb that killed investigative journalist, Dele Giwa.
Reflecting on his decision to annul the June 12 election, widely regarded as the most credible in the country’s history, Babangida admitted that if given another chance, he would have handled the situation differently.
The June 12 election, won by businessman and politician, Moshood Abiola, is considered Nigeria’s freest and fairest election.
However, Babangida annulled the results, citing concerns over national security.
This sparked widespread protests and political unrest nationwide at the time.
The annulment eventually led to Babangida’s resignation and a prolonged struggle for democracy in Nigeria, culminating in the return to civilian rule in 1999.
Thursday’s event marked the official launch of General Babangida’s official memoir, ‘A Journey in Service’.
It drew an elite gathering of past and present leaders who reflected on his legacy and the state of democracy in West Africa.
Discussions ranged from Babangida’s contributions to Nigeria’s political history to concerns over the resurgence of military coups in the region.
In his keynote address, former Ghanaian President Nana Akufo-Addo emphasised the importance of multi-party democracy in Africa’s development.
He warned against the growing wave of military takeovers, calling them a setback to democratic progress.
“Multiple parties are good for our continent,” Akufo-Addo said, urging leaders to protect democratic institutions.
Former Nigerian Head of State, General Yakubu Gowon (retd.), lauded Babangida’s rise from aide-de-camp to head of state, describing him as a “boss of bosses.”
Gowon also expressed gratitude for Babangida’s decision to restore his rank of General after it was stripped following the 1976 coup.
The former head of state said, “Thank you for restoring my rank,” reflecting on how Babangida’s leadership impacted his life.
Meanwhile, General Abdulsalami Abubakar, another former military president, shared personal anecdotes about his long-standing relationship with Babangida, which, he said, spans over 80 years.
Abdulsalami recalled a childhood prophecy that foretold Babangida’s rise to power and commended him for documenting his life’s journey.
“Your memoir will enrich the country,” Abdulsalami stated.
For his part, former President Goodluck Jonathan described Babangida as one of Nigeria’s most charismatic leaders and called for the creation of presidential libraries to preserve the country’s political history.
“IBB brought us here today to celebrate his book and library.
“His home has become somewhat of a pilgrimage site,” Jonathan noted.
Representing immediate-past President Muhammadu Buhari, ex-Minister of Transportation, Jaji Sambo, delivered a congratulatory message, expressing hope that Babangida would continue offering valuable counsel to Nigeria’s leadership.
Various dignitaries and businessmen such as the Chairman of the Dangote Group, Aliko Dangote and the Chairman of BUA Group, Abdulsamad Rabiu, launched the book with N8bn and N5bn each.
Dangote pledged to donate N2bn annually for four years for the construction of the IBB Presidential Library.
Meanwhile, Senator Sani Musa, representing Niger East Senatorial District, donated N250m; the Fidelity Bank leadership launched the book with N150m, while Businessman Arthur Eze donated N500m.
[Punch]
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I didn’t tell Bola Ige there’d be consequences quitting Obasanjo’s govt – Rotimi counters Akande
Admin
Retired Brig.-Gen. Oluwole Rotimi has denied Chief Bisi Akande’s claim that he told the late Bola Ige he would face consequences if he left the Obasanjo-led administration.
Rotimi, the former military governor of the old Western State, clarified at a news conference held in Ibadan on Thursday to mark his 90th birthday.
It would be recalled that Akande, a former Osun governor, recently claimed in a radio interview that Rotimi said there would be consequences should Ige consider leaving the Obasanjo government.
Ige, who served as the Attorney-General of the Federation and Minister of Justice under Chief Olusegun Obasanjo’s government, was murdered on Dec. 23, 2001, at his Bodija residence in Ibadan.
The retired general said Obasanjo had called him when he wanted to change his cabinet to speak to Ige, not to contemplate walking out of his government.
“There was a lot of pressure on Ige to leave the Obasanjo government from people, including Prof. Wole Soyinka.
“I now advised Chief Bola Ige, ‘Please, don’t do it. Obasanjo did not make a mistake in appointing you a minister in his government, and he appreciates your usefulness to his government.
“I did not say if he left, something would happen to him.
“That I advised Chief Bola Ige not to walk out of Obasanjo’s government is a fact, but I did not tell him there would be consequences should he do it.
“First and foremost, that is what I want to clarify,” Rotimi said.
The retired general said what Akande said was, therefore, a misrepresentation.
He urged him to try as much as possible to get his facts right on the situation.
He further said he wondered how he would have known what would happen to Ige since he was not in government.
However, Rotimi faulted the steps taken by the government after Ige’s death, saying a thorough investigation should have been conducted into his death that had been so controversial.
“They should have gone beyond those who are his security personnel.
“If you limit your investigation right from the beginning, how do you deal with other facts hanging around, which nobody thought about?
“That is the way I feel they should go, but I have learnt over the years to close my mouth because I don’t want to say something which I cannot publicly defend in order not to be seen as a fool,” he said.
The former old Western State military governor said he felt for both Ige and Nigerians who looked up to him (Ige) as a leader.
Unfortunately, he said, there was nothing he could do because he was not in a position of authority.
The News Agency of Nigeria (NAN) reports that Rotimi was born on Feb. 20, 1935, in Abeokuta, Ogun.
He became the military governor of the Western State in 1971 under Gen. Yakubu Gowon.
(NAN)
I don’t believe women should replace their father’s name after marriage, says Sanusi’s daughter-in-law
Admin
Sultana Nazif, the daughter-in-law of Muhammadu Sanusi II, the Emir of Kano, says she doesn’t believe in women replacing their father’s name after marriage.
During a question-and-answer session on her Instagram story, a fan asked Sultana if she had changed her last name from Nazif to Sanusi after marrying Ashraf Adam, the son of Sanusi.
“Have you changed your name to Sultana Sanusi?” the fan asked.
Sultana replied, “No, I don’t believe in replacing your father’s name after marriage”.
Her stance is quite unusual, as in many cultures, women traditionally take their husband’s surname after marriage.
Some women, however, choose to hyphenate their last names or keep their maiden name for personal or professional reasons.
In August 2024, Sultana tied the knot with the Ashraf in Abuja.
She is the daughter of Suleiman Mohammed Nazif, a politician from Bauchi state.
Ashraf, on the other hand, is one of the sons of Muhammad Lamido Sanusi II.
Sanusi served as the governor of the Central Bank of Nigeria (CBN) from 2009 to 2014. He was suspended by ex-President Goodluck Jonathan under controversial circumstances.
He would later become the Emir of Kano. However, in 2020, Sanusi was deposed by Abdullahi Ganduje, the state governor, for “disrespecting lawful instructions”.
On May 23, Governor Abba Kabir Yusuf reinstated Sanusi as Emir of Kano.
[TheCable]
XRP (CRYPTO: XRP) and Bitcoin (CRYPTO: BTC) have plenty of catalysts to support their future growth, and it's common knowledge that financial institutions around the world are adopting both coins for various reasons. But there's one new trend in particular that's driving those same financial institutions to take more interest in these two coins.
The trend might take years to play out, if it continues at all. For investors, that part could be great news, as it could lead to a new era of upwardly mobile prices borne from millions of people getting real utility from both coins. Here's what you need to know.
There's going to be a lot more physical stuff tracked on the blockchain
People trading in crypto know that Bitcoin and XRP are blockchains, and that the coins that live on those chains are associated with a myriad number of different wallet addresses. One person could have many wallets, or only one, just like they could have vast holdings of the tokens, or only a small pile.
When Bitcoin was first invented, tokens were fungible. Put differently, every token was identical to every other token, except for the address where it resided -- just like the dollar bills in your physical wallet right now.
Since then, upgrades have been made to the Bitcoin chain so that coins can include metadata that inscribes additional information. That's one of the ways that the chain can now be used to mint, send, and hold non-fungible tokens (NFTs). So far, many of the NFTs minted on the coin's chain are decidedly non-serious memes rather than anything that's useful in a financial sense or otherwise investable.
XRP has a similar capability. What's the point of a coin like XRP that's intended for serious financial applications, specifically reducing fees associated with international money transfers, having such a function? The chain isn't compatible with swapping images of meme coins or other more traditional uses of NFTs on other chains.
In short, this functionality opens the door to tracking real world assets (RWA) like properties, commodities, stocks, art, bonds, cars, and more, all on the blockchain. An NFT could contain the legal rights to a property provided that the holder could prove that they control the wallet address where the NFT resides. And that's exactly what's happening more and more on XRP and to a lesser extent on Bitcoin.
The push to track RWAs on various blockchains is just starting. As of early 2025, an estimated $7.6 billion worth of hard assets were tracked across the cryptocurrency sector. Some of the headier estimates for the growth of such tokenized assets see the total value tracked on blockchains to surpass $30 trillion by 2030.
Moving forward, at least some subset of investors looking to create a traceable record of their assets are going to use XRP or Bitcoin. In the long run, that could bring billions of dollars in value to both chains, pushing their price skyward in the process.
It's still the early days
As appealing as RWA tokenization may seem right now, there isn't any reason to rush to buy either XRP or Bitcoin on the basis of this trend alone, at least not yet.
They aren't the only two chains in the running for tracking the world's assets. Many others have the same capabilities, and there is no guarantee that either of these two will win the fight for market share. In fact, because of how difficult it is to update Bitcoin, it's better to bet against its becoming the chain for tracking real world assets.
XRP may have a better chance, as it's being actively developed, and it's already in use by international banks for the purpose of processing money transfers. It wouldn't be too difficult for those financial institutions to tokenize the assets they control using XRP, and it'd likely be a lot cheaper and faster than trying to do the same with Bitcoin.
But it's unclear how much demand for XRP those efforts would actually generate at this early stage. Keep in mind that XRP's network charges fees that are a fraction of a penny for each transfer that occurs using the coin; there's simply no way that transferring assets could ever produce much in the way of revenue unless the transactions were priced differently.
Overall, the takeaway here for investors is that there may be a big addition to the investment thesis for both of these cryptocurrencies over the next few years if the RWA tokenization trend really takes off. Keep an eye on how much the major financial institutions buy into the idea. If it seems like they're all in, and if they choose either Bitcoin or XRP to be the tool for implementing the tokenization process, it'll be a strong buy signal.
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Alex Carchidi has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin and XRP. The Motley Fool has a disclosure policy.
[The Motley Fool]
Microsoft has announced the arrival of Majorana 1, a new quantum chip that produces more reliable and scalable qubits than its predecessors. Qubits are the building blocks of quantum computers.
The tech giant considers Majorana 1 to be a major milestone in the road to the future of useful quantum computing. Appearing on a podcast on YouTube, Microsoft CEO Satya Nadella said that the company will be able to build a quantum computer somewhere between 2027-29.
Microsoft’s breakthrough revolves around engineering a new type of particle known as Majorana. These Majorana particles have been fabricated using topological conductors and they exist in a topological state, which differs from traditional states of matter such as solid, liquid, and gas.
“In the same way that the invention of semiconductors made today’s smartphones, computers and electronics possible, topoconductors and the new type of chip they enable offer a path to developing quantum systems that can scale to a million qubits and are capable of tackling the most complex industrial and societal problems,” Microsoft said in a blog post published on Wednesday, February 19.
Though, the company has not released any performance data on its quantum chip.
What we know about Majorana 1
Over the past 20 years, Microsoft researchers have taken a unique approach by focusing on developing topological qubits, which are said to be more stable than traditional qubits and require less error correction from the start.
However, the company said that it faced many challenges in creating topological qubits as it “posed a steep learning curve”. “The disadvantage [was] that until recently the exotic particles Microsoft sought to use, called Majoranas, had never been seen or made,” the company said.
First theorised over 80 years ago by Italian physicist Ettore Majorana, Majorana fermions are particles that are their own anti-particles. But, there was no physical evidence of such particles.
According to science publication IEEE Spectrum, researchers detected signs of a kind of Majorana fermion known as a Majorana zero mode (MZM), where groups of electrons and other particles act as a single particle.
To bring these new particles into existence, Microsoft said it first set out to build topological conductors or topoconductors. Unlike traditional semiconductors that are usually made of silicon, Microsoft’s topoconductor is made of indium arsenide. This is the same material used in infrared detectors.
Topoconductors are made by combining indium arsenide (a semiconductor) and aluminium (a superconductor). When cooled to near absolute zero and tuned with magnetic fields, the semiconductor is married with superconductivity.
“We took a step back and said ‘OK, let’s invent the transistor for the quantum age. What properties does it need to have?’” said Chetan Nayak, a Microsoft technical fellow specialising in quantum computing. “And that’s really how we got here – it’s the particular combination, the quality and the important details in our new materials stack that have enabled a new kind of qubit and ultimately our entire architecture,” Nayak said.
Majorana 1 is an eight-qubit chip, which may seem modest when compared to quantum chips developed by rivals such as Google’s Willow (106-qubit chip) and IBM’s R2 Heron (156-qubit chip).
However, the company said that Majorana 1’s underlying Topological Core architecture allows for the quantum chip to be potentially scaled to a million qubits.
“This is a needed threshold for quantum computers to deliver transformative, real-world solutions – such as breaking down microplastics into harmless byproducts or inventing self-healing materials for construction, manufacturing or healthcare,” the company said.
Quantum computers vs supercomputers vs classical computers
Everything that is typed into classical computers such as words and numbers get translated into binary code comprising bits, with a value of 0 (ground state) or 1 (excited state). A qubit, on the other hand, leverages the principles of quantum mechanics to exist in both states simultaneously.
For instance, a qubit could have a 25 per cent probability of having a value of 0 and a 75 per cent probability of having a value of 1. This means that a single qubit can represent a greater amount of information than a single classical bit.
As a result, quantum computers are able to process information in ways that are impossible for classical computers to do so. This means that they are capable of solving problems that classical computers cannot.
But how are quantum computers different from supercomputers?
With advanced architectures and relying on acceleration techniques such as graphic processing units (GPUs) and multi-core processing, supercomputers excel at performing calculations at a faster pace. That said, they are still bound by the constraints of classical computing principles and depend on logic gates such as AND, OR, XOR, and NOT gates to manipulate classical bits.
Quantum computers, on the other hand, use quantum gates such as H-gate and Pauli gates that are designed to process qubits and are also reversible in nature. These quantum gates can be used to develop circuits and algorithms and solve problems that are otherwise impossible to solve.
Majorana 1’s architecture features aluminum nanowires joined together to form an H. Each H has four controllable Majorana particles and makes one qubit, Microsoft said.
How could quantum computers be used?
Quantum computers have long-been considered to be the tools that are needed to unlock new scientific discoveries. Since quantum computers are based on the principles of quantum mechanics, they are able to mathematically map the behaviour of nature with greater precision.
“For instance, they could help solve the difficult chemistry question of why materials suffer corrosion or cracks. This could lead to self-healing materials that repair cracks in bridges or airplane parts, shattered phone screens or scratched car doors,” Microsoft said.
The company also envisions combining quantum computers with its generative AI tools. “This would allow someone to describe what kind of new material or molecule they want to create in plain language and get an answer that works straightaway,” it added.
“If you have AI plus quantum, maybe you’ll use quantum to generate synthetic data that then gets used […] to train better AI models,” Nadella said in the YouTube interview.
But, according to the Microsoft CEO, the first thing a quantum computer would allow researchers to do is build better quantum computers by making it easier to simulate atom-by-atom construction of new quantum gates.
However, one of the biggest hurdles in bringing quantum computing into reality are errors.
“Error correction is essential for quantum computers to function well and become useful. Errors occur when a quantum system interacts with its external environment and loses its delicate quantum characteristics,” Daniel Lidar, a professor of electrical and computer engineering at University of Southern California (USC), said in a statement.
In December last year, Google announced that it has developed a state-of-the-art quantum computing chip called Willow that can solve in under five minutes a computation so complex, it would have taken a supercomputer around 10 septillion (10^25) years to complete.
Notably, the search giant claimed to have found a way to exponentially reduce errors in quantum computers while using more qubits to scale up the technology.
“They demonstrated that quantum error correction works as theoreticians have predicted: as they made their error-corrected `logical qubit’ larger, the results improved. Previously, in most cases, errors only increased.” Lidar said.
[indianexpress]