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New Study Shows Domain Names Worth $9.8Bn Opportunity

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A new study reveals a potential USD 9.8 billion growth opportunity in online revenue through a routine update to Internet systems, including those for speakers of languages that do not use the English script.

The report from technology consulting and research firm Analysys Mason was commissioned by the Universal Acceptance Steering Group (UASG) and clearly demonstrates the economic, social and cultural benefits of Universal Acceptance (UA) of Internet domains.

Universal Acceptance is a foundational requirement for a truly multilingual Internet, one in which users around the world can navigate entirely in local languages.

It is also the key to unlocking the potential of new generic top-level domains (gTLDs) to foster competition, consumer choice and innovation in the domain name industry.

The Domain Name System (DNS) has expanded dramatically and now includes more than 1,200 gTLDs. Many of those top-level domains are longer than the legacy three-character domain name (e.g. .com, .edu and .org) or are in non-Latin based scripts (such as Chinese, Arabic or Cyrillic).

People can now choose a domain name that best reflects their sense of identity and language, although many online systems do not recognize these domain names as valid. For example, problems may arise when a user enters a domain name or related email address into an online form on a website and it is rejected.

 When this happens, it not only frustrates the user and reduces the opportunities for the organization to win a new customer, but it also lessens the cultural, social and economic benefits made possible by the Internet.

“To excel in the long run, organizations should seize the opportunity – and responsibility – to ensure that their systems work with the common infrastructure of the Internet – the domain name system,” said Ram Mohan, Chair of UASG. “Universal Acceptance unlocks a significant economic opportunity and provides a gateway to the next billion Internet users by ensuring a consistent and positive experience for Internet users globally. Additionally, governments and NGOs will be better able to serve their citizens and constituencies if they adopt Universal Acceptance.”

The newly released, independent research conservatively estimates that support for Internationalized Domain Names (IDNs, which allow domain names in all of the world’s languages) could bring 17 million new users online. These include users whose lack of local language services was previously a barrier to a complete online experience.

The report’s estimate is based on the examination of just five major languages and language groups that would benefit from IDNs because they use non-Latin scripts (Russian, Chinese, Arabic, Vietnamese and Indic language groups) and the proportion of non-Internet users for whom a lack of local language services is a barrier. The research shows that online spending from these new IDN users could start at USD 6.2 billion per year.

In addition, the report shows the potential increased revenues from existing gTLD users. According to one study, 13 percent of websites reject new domain names with more than three letters – when a simple update of these websites (effectively a “bug fix”) could increase online revenues by USD 3.6 billion per year as a result of Universal Acceptance. Combined, there is a potential USD 9.8 billion annual opportunity stemming from software systems working in harmony with the common Internet infrastructure. This is also a conservative metric as this figure does not take into account potential future growth in e-commerce spend, or in the registrations of new domains.

“Our analysis shows that the main impediment to Universal Acceptance is a lack of awareness of the issue, rather than any technical challenges,” said Andrew Kloeden, Principal at Analysys Mason. “This is not a heavy lift. The efforts required by software and application owners to implement UA are not particularly onerous; in fact most companies treat UA issues simply as ‘bug fixes.’”

Organizations worldwide have made significant progress toward Universal Acceptance, although there is still more work to be done. Case studies in the report show that many large global companies – such as Adobe, Verizon, Wells Fargo and Twitter, among others – have made needed changes to make their customer-facing systems UA-ready. However, the process is not complete, and many applications still do not accept the new domains. Universal Acceptance has progressed less for IDNs than for gTLDs.

The Universal Acceptance Steering Group is an Internet community inititive that was founded in February 2015 and tasked with undertaking activities that will effectively promote the Universal Acceptance of all valid domain names and email addresses.

The group is made up of members from more than 120 companies (including Apple, GoDaddy, Google, Microsoft and Verisign), governments and community groups.

The UASG receives significant financial and administrative support from ICANN.

Analysys Mason’s expertise in the three key areas of telecoms, media and technology (TMT) underpins everything we do and helps change clients’ businesses for the better. We have been a global specialist adviser in TMT for more than 30 years and since 1985, Analysys Mason has played an influential role in key industry milestones and helping clients through major shifts in the market.

 

 


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E-Business

Confronting the Google Monolith: Survival Strategies for Online Businesses

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By Reuben Kalu.

In the vast expanse of the digital realm, Google looms large, an omnipresent force shaping the way we navigate, search, and conduct business online.

From its humble beginnings as a search engine to its current status as a multifaceted tech behemoth, Google has entrenched itself deeply into the fabric of the internet.

Its influence is undeniable, its reach unparalleled, and its ubiquity seemingly inescapable. But can you truly run an online business without Google?

The answer, in today’s digital landscape, is a resounding no. You have no choice.

Google’s dominance extends across multiple facets of the online world, making it virtually impossible for businesses to thrive without engaging with its ecosystem.

From search engine optimization (SEO) to online advertising, email services to analytics, Google’s suite of products and services permeates every aspect of the online business landscape.

Attempting to operate without Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

At the heart of Google’s influence lies its search engine, the gateway through which billions of internet users navigate the vast expanse of online content. .

Google’s search algorithms wield immense power, determining which websites rank prominently in search results and which languish in obscurity.

For businesses seeking to attract organic traffic and expand their online presence, optimizing for Google’s search algorithms is not merely advisable—it’s imperative.

But Google’s influence extends far beyond search. Consider Google Ads, the company’s advertising platform that enables businesses to reach targeted audiences through paid search, display, and video advertising.

With billions of searches conducted on Google each day, Google Ads provides unparalleled reach and visibility, allowing businesses to target potential customers with pinpoint accuracy.

Attempting to compete in the online advertising arena without leveraging Google Ads is akin to entering a battle unarmed—a futile endeavor destined for failure.

 

Moreover, Google’s suite of productivity tools, including Gmail, Google Drive, and Google Workspace, has become indispensable for businesses seeking to streamline their operations and enhance collaboration.

With seamless integration across devices and platforms, Google’s productivity tools offer unparalleled convenience and efficiency, empowering businesses to work smarter, not harder.

Attempting to eschew Google’s productivity suite in favor of alternative solutions is not only impractical but also unwise, depriving businesses of the tools they need to succeed in today’s fast-paced digital landscape.

Furthermore, Google Analytics stands as the gold standard for web analytics, providing businesses with invaluable insights into their online performance and audience behavior.

From tracking website traffic and user engagement to analyzing conversion metrics and customer demographics, Google Analytics offers a comprehensive toolkit for optimizing online marketing strategies and driving business growth.

Attempting to gauge online performance without leveraging Google Analytics is akin to flying blind, devoid of the critical data needed to make informed decisions and drive meaningful results.

But perhaps the most formidable aspect of Google’s influence lies in its role as a gatekeeper of information and access.

With billions of users relying on Google’s platforms and services each day, the company wields immense control over the flow of online traffic and the dissemination of information.

For businesses seeking to connect with customers and expand their reach, Google’s dominance presents both a tremendous opportunity and a formidable challenge.

Attempting to circumvent Google’s influence and establish an online presence independent of its ecosystem is a Herculean task, fraught with uncertainty and risk.

In essence, attempting to run an online business without engaging with Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

While alternative platforms and solutions exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage. You have no choice.

In conclusion, Google’s pervasive influence permeates every aspect of the online business landscape, making it virtually impossible to escape its grasp.

From search engine optimization to online advertising, productivity tools to web analytics, Google’s ecosystem encompasses a vast array of products and services that have become indispensable for businesses seeking to succeed in the digital age.

While alternative solutions may exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage.

You have no choice.


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Hydrogen Hosts Catalyst Workshop, Highlights Resilient Business Models for Fintech Startups

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As part of its mission to empower African businesses with tools needed to thrive, garner admiration, and foster global acclaim, leading payment solution company, Hydrogen Payment Services Company Limited (Hydrogen), recently partnered with the Co Creation Hub (CcHub), to host the latest edition of the Catalyst workshop in Lagos.

The discourse addressed the potential risks and opportunities for startups and saw experts advise participants on the need to develop resilient business models that would scale across different economic climes.

Moderated by Miracle Ezechi, Digital Marketing Manager, Hydrogen, the panel session addressed dominant issues about the theme: ‘Adapting Fintech Business Models to Economic Climes: Flexibility, Agility and Customer-centricity’.

Mr. Emeka Awagu, Chief Technology Officer, Hydrogen, who spoke as a panellist, addressed the issue of customer-centricity, which according to him, is key to Fintech growth.

He advised startups to listen to customer demands and understand their needs in order to develop the right solutions that will lead to long term market viability.

“Innovation is key for startup growth. However, understanding customers’ needs and change in behaviour will help any startup to innovate better.

“Startups must be flexible and agile to develop solutions with high interoperability and processing speed, and they must be ready to learn from startups that have failed,” Awagu said.

With an estimated 61.07 percent of startups failing, the participants stressed the need for prudence.

“Statistically, a staggering number of startups fail, often due to financial mismanagement. Hence, founders must prioritise understanding and maintaining a healthy the Cost-to-Earnings ratio.

“It is not just a number, but a pivotal indicator of a company’s financial health as well as being a key attractiveness determinant for investors,” Awagu added.

On his part, Ina Alogwu, the Group Director, Digital Transformation, ARM HOLDCO, who also spoke as a panellist at the session, stressed the need for startups to develop sustainable products and solutions that will help them remain competitive in an environment that is faced with harsh economic realities.

“Many startup businesses fail within their first five years, however upcoming startups should not be discouraged, rather develop a culture that will encourage them to understand the reasons for failure and learn from mistakes.

“Startups should not be too rigid with their solutions and should be ready to accept changes that will drive innovation,” Alogwu stated.

Hydrogen will be deepening its economic impact series with a webinar planned for Thursday, April 25, even as businesses across Africa continue to face an array of challenges, ranging from inflation and currency fluctuations to rising operating costs.

Themed ‘Navigating Economic Challenges: Strategies for Sustainable Growth,’ the webinar will delve into key areas critical for businesses to not only survive but thrive in the face of economic adversity. Register using this link – https://bit.ly/Hydrogenwebinar.

Esteemed panellists for this event include Taofik Odukoya, CEO, Vanguard Pharmacy, and Okechukwu Odimgbe, Chief Financial Officer, Hydrogen. The session will be moderated by Nnenna Sam-Obioha, Ecosystem Orchestrator, Hydrogen.

 


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Dexude Secures Funding to Revolutionize Education in Nigeria, Beyond

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Dexude, a leading edtech platform with operations in Nigeria, has announced that it has been awarded the prestigious Business Finland TEMPO funding.

Dexude Secures Funding to Revolutionize Education in Nigeria, Beyond

Charles Emembolu, founder of Dexude,

This significant funding injection marks a pivotal moment in Dexude’s journey towards transforming education through its AI-powered, live-first, expert-led, and community-driven platform.

The Business Finland TEMPO funding is specifically designed to support startups and SMEs aiming for international growth by building their expertise and solutions into international success stories in innovative ways.

Dexude’s commitment to innovation, coupled with its vision to enable a billion learners worldwide, aligns perfectly with the objectives of the TEMPO funding.

Commenting on this milestone achievement, Charles Emembolu, founder of Dexude, remarked, “We are incredibly honored and excited to receive the Business Finland TEMPO funding. This funding is not only a validation of Dexude’s mission to reinvent education but also a testament to the hard work and dedication of our team. With this support, we are poised to accelerate our efforts in democratizing access to quality education and empowering learners across Nigeria and beyond.”

L-r; Kelvin Chikezie, co-founder of Dexude; Kashifu Inuwa Abdullahi, Director-General/CEO of the National Information Technology Development Agency (NITDA); and Charles Emembolu, founder of Dexude

Kelvin Chikezie, co-founder of Dexude, added, “Securing the Business Finland TEMPO funding is a significant milestone for Dexude. It underscores our commitment to leveraging technology and innovation to revolutionize the way people learn and grow. We are grateful to Business Finland for believing in our vision, and we are excited to embark on this next chapter of Dexude’s journey.”

Dexude is on a mission to redefine education by providing learners with access to influential experts and thought leaders, live interactions, and a vibrant community-driven learning experience.

Through its platform, Dexude aims to break down barriers to learning and empower individuals to pursue their passions and unlock their full potential.

 

 

 

 


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