• Chipper Cash, a Nigerian fintech company, recently announced it has let go of more employees as part of its cost-containment measures.
• The exact number of axed workers is uncertain but one report estimated it to be around 100, or 12.5% of Chipper Cash’s entire workforce.
• Despite the layoffs, CEO Ham Serunjogi has denied reports that the firm has shut down its crypto department and said they will continue to invest in the product.
Chipper Cash Lays Off More Workers
Chipper Cash, a Nigerian fintech company, recently said it has let go of more employees and that this step has been taken to help the firm contain its operating costs. Although no figure of the number of axed workers was given, one report estimated this to be around 100, or 12.5% of Chipper Cash’s entire workforce.
Deteriorating Macroeconomic Climate
The latest retrenchment exercise has impacted all areas from human resources to research and legal departments. Commenting on the fintech’s axing of talented employees less than three months after it laid off the first group, Chipper Cash CEO Ham Serunjogi detailed the circumstances that prompted the company to let go of some of its talent: “The last two years were a period of rapid growth and scaling for us as a business and, to reflect this, our global headcount grew by around 250 people. However, given the macroeconomic climate, we are narrowing our current focus to core markets and products – concentrating our efforts where we know we can thrive.”
Crypto Department Still Operational
Despite these layoffs CEO Ham Serunjogi has dismissed reports that their firm have shut down their crypto department saying they will continue investing in their product as it is one their largest platform in Africa and growing fastly.
Containing Operating Costs
With such unfavorable circumstances prevailing for more than one year now Chipper cash can only operate efficiently with a smaller team which necessitated these layoffs as part cost containment measure by the firm.
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• Rightfulshare, an income equality advocacy movement, recently launched the “first unconditional” crypto universal basic income (UBI) transfer to a local entrepreneur in South Africa.
• The launch is seen as a pioneering step for fairer income access and provides resources and Web3 solutions to the people of South Africa.
• Beneficiaries will receive the crypto UBI every month for one year, as well as access to mentoring and learning opportunities from business development to Web3 education.
Rightfulshare Launches First Crypto Universal Basic Income
Rightfulshare, an income equality advocacy movement, recently said it has launched what it describes as the “first unconditional” crypto universal basic income (UBI) transfer to a local entrepreneur residing in South Africa. According to the movement’s Jan. 31 press release, selected beneficiaries will receive the crypto UBI “in Gooddollar to use as they choose” each month for one year.
Fairer Income Access
The launch has been described as “a pioneering step for fairer income access,” providing both resources and Web3 solutions to a small town in the country. Founder of Rightfulshare Karen Jooste claimed that not only does this expand possibilities for unemployed South Africans but also nurtures their entrepreneurial spirit. In addition to receiving the crypto UBI each month for one year, beneficiaries “will also have access to mentoring and learning opportunities” ranging from business development to Web3 education.
Replicating Project In Metaverse
To help those outside South Africa gain a better understanding of Rightfulshare’s project, it is currently being replicated in the metaverse. This will allow users from anywhere around the world with internet access get an insight into how this project works and how it can be beneficial in other parts of the world too.
Advocates For Equality
The mission of Rightfulshare is rooted in advocating for equality by utilizing digital tools such as blockchain technology and cryptocurrencies like Gooddollar in order to achieve these goals on a global scale. By providing people with basic incomes through these digital transfers, poverty can be alleviated on an unprecedented level while also encouraging entrepreneurship throughout disadvantaged communities all around the world where jobs are scarce or non-existent at all.
Rightfulshare’s launch of its first unconditional crypto UBI transfer marks an important milestone not just for South Africa but also worldwide when it comes to fighting poverty with innovative solutions like blockchain technology and cryptocurrencies like Gooddollar which provide real benefits directly into people’s pockets on a consistent basis without any strings attached or conditions needing met before those funds are received by recipients who need them most desperately – giving them more freedom than ever before while simultaneously encouraging economic growth within these communities through self-empowerment initiatives like this which could potentially benefit millions if adopted fully worldwide
• Ethereum core developers plan to activate the “Shapella” transition through the Zhejiang public testnet on Feb. 7, 2023.
• The testing is designed to identify any problems before the official Shapella upgrade is applied to the mainnet in March.
• If successful, Beiko said Sepolia and Goerli testnets could follow two days later, allowing validators to withdraw their locked ETH funds.
Ethereum Plans ‘Shapella’ Transition
Ethereum core developers plan to activate the “Shapella” transition through the Zhejiang public testnet on Feb. 7, 2023, according to Tim Beiko of the Ethereum Foundation. If successful, he said Sepolia and Goerli testnets could follow two days later, allowing validators to withdraw their locked ETH funds.
Devs Prepare for ‘Shapella’ Upgrade
On Feb. 2, 2023, Tim Beiko of the Ethereum Foundation announced that developers are preparing for a “Shapella” upgrade with Zhejiang as its first test network. This upgrade combines two planned enhancements: “Shanghai” and “Capella,” which will enable withdrawals on the execution layer and upgrade the Beacon chain consensus layer simultaneously. To get ready for this transition, Beiko encouraged validators to obtain 33 ether from a faucet available on this network.
Monitors Bug Before Testnet Activation
The Ethereum Foundation member also mentioned that they are monitoring for bugs before activating Shapella via Zhejiang’s testnet; this is done in order to identify any problems before applying it officially onto mainnet come March 2021. Currently 16.4 million ETH—worth $26 billion using exchange rates—are locked into Beacon chain contracts; once Shapella is launched these funds can be released by validators without issues or delays.
Lido Announces Withdrawals Feature
Recently Lido announced plans for a withdrawal feature prior to upcoming mainnet upgrades in March; Beiko reassured everyone that “withdrawals are coming” if all goes well with other testnets transitions leading up until then. He further noted that there would be another All Core Devs (ACD) meet-up soon where more details about Shapella would be discussed and clarified for those interested in learning more about it..
Timeline of Events
Be sure not miss out! Here’s what’s happening so far:
• Feb 2nd – Developers prepare Shapella upgrade using Zhejiang as first test net
• Feb 7th – Activation of “Shapellla” transition thru Zhejiang public test net
• Feb 9th – Sepolia and Goerli tests nets follow if all goes well
• Mar 2021 – Main net implementation