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The Digital Economy

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The economy and society are undergoing profound changes as a result of digitalisation. It fuels entrepreneurial innovation, regional economic growth, and productivity. Additionally, it has consequences for economic growth, the labour market, and political engagement. And it imposes new educational and training requirements – not just in the realm of information and communication technologies.

Today, as the world prepares for 5G technology, the IT think tanks in Pakistan must seriously consider efficient ways to catch up with the world and maximise economic benefits.

Despite considerable expansions of ICT access prior to the COVID-19 crisis, the ICT availability and use remained far from universal. The COVID-19 crisis expedited advanced economies’ digitalisation and made catching up more difficult for nations or areas trailing before. We must explore the current state of digitisation in Pakistan, its economic impact, and how should we pave the way for future technologies.

Digitisation is regarded as the fourth industrial revolution. However, in Pakistan’s case, we may not be at par with the world. The biggest challenge that the country faces is the overall readiness to completely make use of digitisation. According to the World Bank 5G readiness plan, the Government of Pakistan (aligned with the Pakistan Telecommunication Authority) must devise a strategy to attract multinational organizations to invest in a digital transformation infrastructure. There remain multifaceted challenges to Pakistan’s adaption of 5G technology. Despite a huge growth potential, we see that the Foreign Direct Investment in the telecommunication sector has dropped from a staggering US$763 million in the FY 2019-20 to a meagre US$202 in the FY 2020-1. The primary reason for this drastic drop in investment is the poor adaptability of technology amongst the population.

The economic contribution of the mobile industry in Pakistan might reach $24 billion by 2023, accounting for 6.6 per cent of the country’s gross domestic product.

5G technology offers endless economic and industrial benefits. Up to $3.5 trillion in revenue is expected to be generated by the 5G value chain by 2035, with up to 22 million employment being supported.

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The Global GDP growth will increase by $3 trillion cumulatively between 2020 and 2035, according to projections based on 5G deployment. By 2035, 5G-related services, such as mission-critical services, increased mobile broadband, and enormous IoT improvements, would be worth over $12 trillion, according to estimates. Retail, healthcare, education, transportation, and entertainment are among the areas projected to benefit from 5G technology.

According to the Pakistan Telecom Authority (PTA), the country has over 98 million 3G/4G subscribers or 43.51 per cent penetration. Despite network advancements such as the addition of new 4G towers, over 90 per cent of mobile devices constructed or manufactured in the country are only compatible with 2G technology. At the moment, roughly 53 per cent of all SIM subscribers utilize 2G devices. The experts believe that for a successful transition to the 5G technology, at least 60 per cent of the population must be connected to the 4G technology.

The broadband penetration is only about 46.4 per cent in Pakistan, which must be expanded drastically to ensure economic benefits. Amongst many challenges that hinder the technology adaption in Pakistan are, “the lack of large contiguous blocks of the affordable spectrum”, “broader access to fibre backhaul” and “widespread availability of affordable 5G smartphones and other devices.”

Pakistan’s IMT spectrum management policy has been identified as the primary impediment to the sector investing fully in 4G development and sector competitiveness.

The current government does seem to have a good plan of action to boost the 5G technology in the country – some of which include:

o Tax rebate, tax rationalization, and elimination of duty tariff on import of all components of high end 4G and 5G devices;

o Duty-free IMT/5G network-ready equipment imports to facilitate 5G readiness and mobile broadband to support wider mobile broadband and 5G networks deployment;

o Special incentives for global Telecom equipment vendors to establish assembly and production lines in Pakistan to promote local assembly of IMT/5G and IoT ecosystem devices including chipsets, and

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o Licensee shall establish at least one 5G Innovation and test centre/lab to scale up 5G ecosystem for start-ups and entrepreneurship activities at their own cost for citizens.

All these are indeed solid items on the action list but the Mobile Economy Asia Pacific Report 2021 projected, “Pakistan will be at the lowest end in terms of smartphone users as well the 5G coverage among the selected countries of Asia Pacific region by 2025.” According to the GSMA estimate, the economic contribution of the mobile industry in Pakistan might reach $24 billion by 2023, accounting for 6.6 per cent of the country’s gross domestic product. The same report estimates, smartphones will account for over 80 per cent of all connections in the Asia Pacific by 2025, up from 68 per cent in 2020. However, Pakistan was near the tail-end of the list of 12 major countries, just above Bangladesh, and it is expected that neither of these two countries will meet the 80 per cent target in the near future.

The 5G technology will be a game-changer for Pakistan. The Small and Medium Industries could benefit greatly by adopting online selling techniques, reaching global markets, and learning from international best practices, supply chain, and business operation strategies. Pakistan’s education and medicine industry is expected to be the biggest beneficiary of the 5G technology with its low latency and widespread applications, which can help overcome the poor student-teacher ratio that currently stands at 29 to one.

The truth is that it is not as easy as it may seem to the officials, from 2017 through 2035, the world will need to invest $3.7 trillion, or 4.1 per cent of global annual GDP per year, on infrastructure to overcome existing gaps. Of this amount, 54 per cent will go towards meeting the needs of Asian countries. Therefore, experts in Pakistan must carefully consider their approach to resolving the challenges in 5G technology and adopting a single national strategy.

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Empowering Safety and Security: Motorola Solutions’ Innovative Impact in 2024

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In a world where safety and security are paramount, the role of technology in enabling critical collaboration between public safety entities and enterprises cannot be overstated. Motorola Solutions, a global leader in mission-critical communication solutions, has once again been recognized for its innovative contributions. Fast Company’s prestigious list of the World’s Most Innovative Companies for 2024 includes Motorola Solutions, highlighting the company’s commitment to pushing the boundaries of safety and security technologies.

Motorola Solutions: A Pioneer in Safety and Security Technologies

Motorola Solutions has a rich history of innovation dating back to its inception. With a focus on developing cutting-edge communication solutions for public safety agencies, enterprises, and other critical industries, the company has consistently been at the forefront of technological advancements. From two-way radios to advanced software solutions, Motorola Solutions has continuously evolved to meet the ever-changing needs of its customers.

Fast Company’s Recognition: A Testament to Innovation

Being named to Fast Company’s list of the World’s Most Innovative Companies is a significant achievement for Motorola Solutions. This recognition not only acknowledges the company’s past successes but also highlights its ongoing commitment to driving innovation in the safety and security sector. By enabling critical collaboration between public safety agencies and enterprises, Motorola Solutions is playing a crucial role in enhancing overall safety and security measures.

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The Impact of Motorola Solutions’ Technologies

Motorola Solutions’ safety and security technologies have had a profound impact on how organizations approach critical communication and collaboration. By providing reliable and secure communication solutions, the company has helped streamline operations, improve response times, and enhance overall situational awareness. Whether it’s during emergencies, natural disasters, or day-to-day operations, Motorola Solutions’ technologies have proven to be indispensable for those tasked with ensuring public safety.

Enabling Collaboration: Bridging the Gap Between Public Safety and Enterprises

One of the key strengths of Motorola Solutions’ technologies is their ability to facilitate seamless collaboration between public safety agencies and enterprises. By breaking down communication barriers and enabling real-time information sharing, these solutions empower organizations to work together more effectively during emergencies and other critical situations. This level of collaboration is essential for creating safer and more secure environments for everyone involved.

Looking Ahead: The Future of Safety and Security

As technology continues to advance at a rapid pace, the role of companies like Motorola Solutions in shaping the future of safety and security becomes increasingly important. By staying at the forefront of innovation and embracing emerging technologies such as AI, IoT, and cloud computing, Motorola Solutions is poised to continue driving positive change in the safety and security landscape. The company’s commitment to excellence and its focus on enabling critical collaboration will undoubtedly play a significant role in shaping the future of safety and security.

Conclusion

In conclusion, Motorola Solutions’ inclusion in Fast Company’s list of the World’s Most Innovative Companies for 2024 is a testament to the company’s dedication to pushing the boundaries of safety and security technologies. By enabling critical collaboration between public safety agencies and enterprises, Motorola Solutions is not only driving innovation but also making a tangible impact on the safety and security of communities worldwide. As we look to the future, it is clear that companies like Motorola Solutions will continue to play a vital role in shaping a safer and more secure world for all.

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Google Pixel 8 Pro: Unveiling the Enhanced Pixel Experience with the New Pixel Launcher Update in Response to Digital Markets Act

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Introduction

In response to the Digital Markets Act, Google has released a major update for its Pixel phones, namely the Google Pixel 8 Pro, amid the ever-evolving world of technology and law. The user experience has been altered with this update, primarily concentrating on the home screen with the redesigned Pixel launcher. Let’s examine this clever new feature’s specifics and ramifications.

Understanding the Digital Markets Act

The Digital Markets Act is a legislative initiative impacting users within the European Union. It aims to regulate large tech companies’ behaviour, including Google, to ensure fair competition and protect consumers’ interests. While currently affecting EU users, other countries like the U.S., U.K., and beyond are closely monitoring these developments for potential adoption of similar laws.

Evolution of Google Pixel Experience

Google’s Pixel phones have been known for their clean Android experience and timely updates. With each iteration, Google strives to enhance user satisfaction by introducing new features and improvements. The Pixel 8 Pro continues this tradition by refining the user interface with a focus on the home screen.

Unveiling the New Pixel Launcher

The centrepiece of this update is the Pixel launcher, which serves as the gateway to the phone’s functionalities. The new launcher offers a more intuitive and personalized experience, catering to users’ preferences and habits. From enhanced customization options to improved organization features, users can expect a seamless interaction with their device.

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Key Features of the Updated Pixel Launcher

  1. Enhanced Personalization: Users can now customize their home screen layout, widgets, and app icons to reflect their unique style and needs.
  2. Smart Suggestions: The launcher intelligently predicts apps and actions based on usage patterns, streamlining daily tasks for increased efficiency.
  3. Improved Organization: With better categorization of apps and notifications, users can easily navigate through their digital ecosystem without clutter.
  4. Integration with Google Services: Seamless integration with Google’s ecosystem enhances productivity and connectivity across devices.

Implications for Users

The updated Pixel launcher not only elevates the user experience but also aligns with regulatory requirements set forth by the Digital Markets Act. By offering more control and transparency over data usage and app recommendations, Google aims to foster trust among users while complying with evolving regulatory standards.

Future Outlook

As governments worldwide observe the impact of the Digital Markets Act on tech giants like Google, discussions around similar regulations are gaining momentum. The proactive approach taken by Google in updating its Pixel phones sets a precedent for other companies to adapt to changing regulatory landscapes while prioritizing user satisfaction.

Conclusion

In conclusion, the introduction of the new Pixel launcher in the Google Pixel 8 Pro marks a significant step towards enhancing user experience and complying with regulatory frameworks like the Digital Markets Act. By embracing innovation and user-centric design, Google continues to set benchmarks in the smartphone industry while navigating complex legal landscapes with agility and foresight.

By combining technological advancements with regulatory compliance, Google paves the way for a more transparent and user-friendly digital future.

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Crypto

Andrew Kang Buys Original Pepe NFT for Undisclosed Sum at Sotheby’s Sale

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Andrew Kang, co-founder of Mechanism Capital, has acquired the original Pepe NFT for an undisclosed amount in a Sotheby’s sale. The NFT was last sold for a staggering $3.5 million in October 2021. The purchase of the original Pepe NFT by Kang has created a buzz in the crypto community, with many speculating on the significance of the purchase.

Andrew Kang buys Pepe NFT at Sotheby's from 3AC estate. Mechanism Capital co-founder involved

Pepe the Frog, a cartoon character created by artist Matt Furie, became an internet sensation in the early 2000s. The Pepe NFT was created in 2016 as a digital representation of the character and quickly gained popularity in the crypto world. The purchase of the original Pepe NFT is significant as it is considered a piece of internet history and a symbol of the early days of NFTs.

Key Takeaways

  • Andrew Kang, co-founder of Mechanism Capital, has acquired the original Pepe NFT for an undisclosed amount in a Sotheby’s sale.
  • The Pepe NFT is considered a piece of internet history and a symbol of the early days of NFTs.
  • Kang’s acquisition of the original Pepe NFT has created a buzz in the crypto community.

Andrew Kang’s Acquisition

Andrew Kang acquires Pepe NFT from 3AC estate at Sotheby's sale. Mechanism Capital co-founder involved

Mechanism Capital co-founder Andrew Kang recently made an undisclosed purchase of the original Pepe NFT from 3AC estate in Sotheby’s sale. The NFT was last sold for $3.5 million in October 2021.

Mechanism Capital’s Involvement

Mechanism Capital is a cryptocurrency investment firm that manages a portfolio of digital assets. Andrew Kang is one of the co-founders of the firm, and his acquisition of the original Pepe NFT demonstrates the firm’s interest in investing in the NFT market.

Sotheby’s Sale Details

The original Pepe NFT was sold by 3AC estate in Sotheby’s sale, which is a well-known auction house for fine art and other collectibles. The sale was held in October 2021, and the NFT was reportedly purchased for $3.5 million at the time.

Andrew Kang’s acquisition of the original Pepe NFT highlights the growing interest in NFTs and their potential as an investment vehicle. The purchase also demonstrates the increasing involvement of cryptocurrency investment firms in the NFT market.

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Historical Context of Pepe NFT

Andrew Kang buys original Pepe NFT at Sotheby's sale. Mechanism Capital co-founder. Historical context

Pepe NFT is a digital asset that gained popularity in the crypto art world due to its unique and humorous design. The character, Pepe the Frog, was created by artist Matt Furie in 2005 as part of his comic series, Boy’s Club. However, the character was later adopted by certain online communities and became associated with controversial political movements.

In recent years, Pepe NFTs have become highly sought after by collectors and investors alike. The original Pepe NFT was created by Furie in 2015 and was sold in an auction for $1,025 in 2016. Since then, the value of Pepe NFTs has skyrocketed, with some fetching millions of dollars in sales.

Previous Sale in October 2021

The Pepe NFT that Andrew Kang recently purchased was last sold for $3.5 million in October 2021. The sale was conducted by Sotheby’s, a renowned auction house that has been actively involved in the sale of NFTs. The auction was part of a larger sale by 3AC Estate, a crypto art collection managed by the venture firm, 3AC.

The sale of the Pepe NFT generated significant buzz in the crypto art community, with many speculating that it could break previous records for NFT sales. The final price of the NFT was not disclosed, but it is believed to have sold for a substantial amount.

Overall, the sale of the original Pepe NFT highlights the growing interest in crypto art and the potential for significant financial gains for collectors and investors. As the market for NFTs continues to evolve, it will be interesting to see how prices and demand for these digital assets change over time.

The Significance of NFT Purchases

Andrew Kang buys original Pepe NFT at Sotheby's sale for Mechanism Capital co-founder

NFTs, or non-fungible tokens, have been making headlines in the art world and beyond. These digital assets use blockchain technology to verify ownership and authenticity, creating a new market for unique and collectible items. The purchase of the original Pepe NFT by Andrew Kang is just one example of the growing interest in this emerging field.

One significant aspect of NFT purchases is the potential for artists to earn more money from their work. With traditional art sales, artists often receive only a fraction of the final sale price. However, with NFTs, artists can receive a percentage of each subsequent sale, providing a new revenue stream and a way to protect their intellectual property.

Another important factor is the role of NFTs in the broader digital economy. As more transactions move online, NFTs offer a way to create scarcity and value in a digital space. This has implications for everything from gaming to social media, as creators and users seek ways to monetize their content.

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Overall, the purchase of the original Pepe NFT by Andrew Kang highlights the growing interest and potential of NFTs in the art world and beyond. As the technology continues to evolve and gain traction, it will be interesting to see how it transforms the way we think about ownership, value, and creativity in the digital age.

Frequently Asked Questions

Andrew Kang buys Pepe NFT from 3AC estate at Sotheby's sale for Mechanism Capital

What is the significance of the original Pepe NFT?

The original Pepe NFT is considered a significant piece of digital art history and is widely recognized as the first-ever rare Pepes NFT. The Pepes NFTs were created in 2016 as a parody of the popular internet meme, Pepe the Frog. The original Pepe NFT is a one-of-a-kind piece of art that has been highly sought after by collectors in the NFT community.

Who is Andrew Kang and what is his association with Mechanism Capital?

Andrew Kang is a co-founder of Mechanism Capital, a cryptocurrency investment firm. He is a well-known figure in the NFT community and has been actively involved in NFT investments and collections. Kang’s purchase of the original Pepe NFT highlights his interest in acquiring rare and significant pieces of digital art.

How does the sale of the original Pepe NFT reflect on the current NFT market trends?

The sale of the original Pepe NFT for an undisclosed sum highlights the growing demand for rare and unique NFTs. The NFT market has seen a surge in popularity in recent years, with high-profile sales and auctions attracting significant attention from investors and collectors. The sale of the original Pepe NFT is a testament to the growing interest in NFTs as a viable investment opportunity.

What was the previous sale price of the original Pepe NFT, and how does it compare to the latest sale?

The original Pepe NFT was last sold for $3.5 million in October 2021. The latest sale price of the NFT has not been disclosed. However, the fact that the NFT was sold for an undisclosed sum suggests that it was likely sold for a higher price than the previous sale.

What role did Sotheby’s play in the sale of the original Pepe NFT from the 3AC estate?

Sotheby’s, the well-known auction house, facilitated the sale of the original Pepe NFT from the 3AC estate. The auction house has been actively involved in the sale of high-profile NFTs, including the sale of the world’s first NFT artwork by Beeple for $69 million in March 2021. Sotheby’s involvement in the sale of the original Pepe NFT highlights the growing interest in NFTs among traditional art collectors and investors.

Can you explain the impact of high-profile NFT sales on the digital art community?

High-profile NFT sales have had a significant impact on the digital art community, bringing increased attention and recognition to the medium. The sale of high-profile NFTs has also led to increased demand for digital art, with artists and collectors alike looking to capitalize on the growing interest in the medium. The sale of the original Pepe NFT is just one example of the impact that NFTs are having on the wider art world, as traditional art collectors and investors begin to take notice of the potential of this emerging asset class.

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