On Monday, April 25, 2022, news broke that Elon Musk would acquire social media platform, Twitter for $44 billion, ending speculations after he had first acquired a stake in the company. While the sale has not been finalised, some changes in the European Union could affect its business.
On today's episode of the Techpoint Africa Podcast, we discussed possible changes following the Digital Services Act, NFT scams, and African agritech inventions.
Beginning with news of the passage into law of the Digital Services Act, we discussed the implications of stricter controls on tech companies. I argued that while the restrictions on targeted advertising would impact advertising revenue for these companies, it is too early to tell how much of an impact it would be.
With the law not immediately coming into force, it would be interesting to see how tech companies adapt to these changes.
We moved on to the $2 million NFT scam on the Bored Ape Yacht Club's Instagram account. If this fuels your distrust or reluctance to get on the web3 train, Bolu says not to worry, as it was an Instagram account that was hacked.
Regardless, there will be more attempts as web3 technologies catch on, and it will be interesting to see how it plays out. Meanwhile, you can get early bird tickets to learn all about blockchain technologies at the Techpoint Africa Blockchain Summit on May 21, 2022 by registering here.
PS: Early bird tickets stop on Saturday, April 30, 2022.
We closed with news of Ghanaian agritech startup, Farmerline's $12.9 million pre-Series A funding. Farmerline's Mergdata uses its proprietary technology to predict the needs of farmers, which agribusinesses use to distribute farming inputs and knowledge to farmers. Oluwanifemi expressed optimism that more agritech solutions will be funded in the future, and we agreed that this could become the norm as financial services on the continent improve.
You can always get today's episode and previous episodes on your favourite podcasts, including Google Podcasts, Apple Podcasts, and Spotify. You can also share interesting parts using the #TechpointAfricaPodcast hashtag.
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Until next week, do have a great day.