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What is Web 3 the new Internet? Please read about it in detail.

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Web 3 crypto

New hype is of Web 3 the new Internet. Everyone now wants to know about this in detail. 

Web 3 crypto

Web 3 crypto

This concept is closer to all crypto lovers. Web 3 the new Internet, decentralizes the Internet we know now with the support of blockchain and cryptocurrencies. Platforms that will help Web 3 are “open,” suggesting everyone has a similar footing on everything. Web 3 aims to substitute the current Web (2). It is rule by BigTech players that leave little income or ownership for vendors to claim.

Co-founder of Twitter, Jack Dorsey:

The co-founder of Twitter, Jack Dorsey, attacked the idea of Web3. According to him, Web 3 is a marketing hype that Venture Capitalists are cashing on. Perhaps he’s being conventional, to say the slightest, because for now, Web 3 “offers the opportunity. It is not giving guarantee, of something more useful. These words are of  entrepreneur Balaji Srinivasan.

Thanks to social media and websites that publish articles, these latest things come with many hypes. It is essential to check the reality before jumping to conclusions about such things. Whatever it is, When a big social media company like Twitter says something on it, it is a sign that this might be something different. It is catching the eyes of many.

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Business

Poll predicts that the Gulf economies will grow faster in 2022

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Gulf Cooperation Council

In the UAE, Saudi Arabia, and Oman, inflation was expected to remain the lowest.

According to a Poll predicts Reuters poll of economists, the economies of the six-member Gulf Cooperation Council will grow at their fastest rates in several years, though the risk to that outlook is skewed to the downside.

Crude oil prices, a major driver for Gulf economies, rose to their highest level since 2014 on Wednesday. Owing to escalating global political tensions involving major producers, which could exacerbate already tight supplies.

That is good news Poll predicts for the region’s six wealthy oil-exporting countries. According to a January 11-19 poll of 25 economists. All six Gulf Cooperation Council economies will grow faster this year than was predict three months ago.

Saudi Arabia was predict to top the list with 5.7 percent growth, followed by Kuwait and the UAE with 5.3 percent and 4.8 percent growth, respectively.

Saudi Arabia

Saudi Arabia

Qatar, Oman, and Bahrain are expect to grow at 3-4 percent per year through 2022. It would be the best thing these countries have seen in several years if realized. “Despite relatively tight fiscal policy and some external headwinds, we expect the GCC economies to see faster growth in 2022 as they build on last year’s progress,” Khatija Haque said.

“While the outlook for 2022 remains broadly positive, there is still a high level of uncertainty, particularly regarding the evolution of the coronavirus pandemic.” As the global economy struggles to deal with the prospect of persistent inflation, the region’s price outlook was modest but varied.

Inflation is expect to remain between 2.0% and 2.80% this year, with the UAE, Saudi Arabia. And Oman having the lowest readings at 2.0% and Qatar having the highest at 2.80%. Saudi Arabia, the world’s largest crude oil exporter. And the region’s economic and political powerhouse, will experience 5.7% economic growth this year. It would be the fastest growth since 2012 when oil averaged around $111 per barrel.

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Elon Musk’s reaction to Twitter’s new NFT feature

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Elon Musk

Elon Musk, a crypto enthusiast, sends a three-word tweet in response to Twitter’s new NFT feature.

Elon Musk’s reaction has stated that a new Twitter feature allows premium users to display their non-fungible token (NFT) acquisitions as their profile picture is irritating. Instead, the social media giant should focus its resources on removing crypto fraudsters from the platform.

Elon Musk’s reaction, a billionaire and long-time crypto enthusiast, expressed his displeasure with a new Twitter feature. That allows premium users to display their non-fungible token (NFT) remarked as their profile picture. Elon Musk commented on Twitter’s new feature for Twitter Blue users, saying, “this is annoying,” and attaching a screenshot of the announcement. Musk went on to say that the social media behemoth is not making good use of its resources.

In choice countries such as the US and Canada, Twitter launched a new feature last week that allows some users to display. Their NFT purchases a token representing blockchain purchases in the form of a hexagonal-shaped profile picture rather than the usual circle-shaped picture.

 

“Twitter is wasting engineering resources on this nonsense while crypto scammers throw a spambot block party in every thread!”

Musk wrote in a tweet last week, expanding on his point of view. Musk, a big supporter of cryptocurrencies in general, including the meme-based DogeCoin. Expressed his displeasure with the Web3 world, pointing out that resources should instead be spent avoiding crypto-related spam on social media.

Elon Musk response to Twitter

Elon Musk response to Twitter

To clarify, Tesla Inc and SpaceX CEO Elon Musk previously stated. That he would abide Bitcoin as payment for Tesla vehicles. Still, they later reversed his decision, citing environmental concerns about the crypto asset. However, later in December, he stated that Tesla would allow customers to purchase some merchandise using Dogecoin, another crypto asset.

“Elon is correct on this one. “Twitter’s product team needs to prioritize what’s important for user experience,” Adam Singer. A former Google VP of Marketing, said in a tweet supporting Musk. Others agreed with him, including Michael Saylor, CEO of another publicly-traded company in the United States, MicroStrategy. Who suggested that Twitter could solve the problem of scammers and spambots by allowing users to purchase a premium account.

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Will Oil Prices touch triple Digits in 2022? If it reaches what will the effect on growing nations.

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Oil slipped towards $84 a barrel, the first weekly loss in about two months.

The Crude has been hovering around $88 per barrel since the last 2021 ending. Can we see Oil Prices touch triple digits in 2022? If it goes there, what will impact growing nations like India and all?

oil price per barrel near 88

Market sentiments in the oil market are upbeat. Demand may rise as omicron’s fear is getting lesser with time. Now the question is will we see oil prices touch triple digits in 2022.

Last year from November 2022, we have to see the Global benchmark brent crude jump by 25%. It is around $88 per barrel from November 2022. Market analysts suggest demand will grow. Omicron’s fear is getting lesser now, which will spark demand, and Oil prices may increase in 2022.

However, prices fell towards the end of the year as new variants emerged, and conditions were placed again in several nations to contain the Omicron variant’s spread. Prices began rising at the close of the year, gaining permission from the record highs achieved in financial market indicators. Gains were supported by the reopening of economizing and anticipated faster economic development in the near term.

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