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OLA ELECTRIC TO ENTER GLOBAL MARKETS, STARTING WITH NEPAL

Indian electric two-wheeler manufacturer Ola Electric on Thursday (September 22) said it plans to foray into international markets, starting with Nepal. The company has signed a Memorandum of understanding (MoU) with CG Motors of Nepal, which will act as the distributor of its Ola S1 and S1 Pro scooters. The company said the scooters will be available in Nepal from the next quarter.

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Falguni Nayar, the CEO and founder of Nykaa, is now the richest self-made woman in India. The IIFL Wealth Hurun India Rich List 2022 states that she has surpassed Biocon CEO Kiran Mazumdar-Shaw in net worth. Falguni Nayar and family, whose e-commerce company Nykaa made a stellar debut on the stock exchanges a year ago by listing at a 79% premium, saw their wealth soar 345 percent to Rs 38,700 crore, making them the second-biggest gainers on the list. On the entire list, Nayar came in at number 33. With a fortune of Rs 24,800 crore, Biocon’s Shaw was ranked 67th on the list. bRekha Rakesh Jhunjhunwala and her family, who were ranked 34th with a net worth of Rs 37,200 crore, Radha Vembu of Zoho Corp., who was ranked 50th with a fortune of Rs 30,500 crore, and Anu Aga and her family, who were ranked 82nd with a net worth of Rs 19,700 crore, were other notable women in the top 100. The fact that 67% of the list • Type - Private limited • Industry - Electric vehicles • Founded - 2017; 5 years ago, in Bengaluru, India • Founder - Bhavish Aggarwal • Products - S1, S1 Pro • Services - Motor vehicle manufacturing, Motor vehicle distribution, Charging solutions, EV batteries • Parent - ANI Technologies (2017–2019), Ola Electric Mobility Pvt Ltd (2019–present) Agarwal said Ola Electric also has plans to expand into LATAM, ASEAN, and the European Union in the next phase, which will help the company gain a foothold in five foreign countries. Bhavish Aggarwal, Founder, and CEO, Ola said, “Our international expansion will not only mean being able to serve customers in these similar regions as a company, but it is also a testament to the fact that India will lead the EV revolution for the world.” He said that to take the electric vehicle revolution to the next level, India has to be the epicenter of change.

Ola currently sells the S1 and S1 Pro e-scooters in India, which are priced at INR 99,999 and INR 1.40 lakh, ex-showroom, respectively. The S1 offers a 141 km riding range per charge, while the S1 Pro offers a 181 km riding range per charge (ARAI certified). According to a recent announcement, by March 2023, Ola Electric will have over 200 experience centers across India. It said it has sold more than 10,000 S1 scooters so far. Valued at $5 billion, the firm is on a strong footing to become a vertically integrated mobility company. Ola recently unveiled an electric four-wheeler project. According to the information given earlier, the Ola electric car will catch the speed of 0-100 kmph in just 4 seconds. The electric car will have an aerodynamic design and will likely offer a range of up to 500 km per charge.

FALGUNI NAYAR OF NYKAA SURPASSES KIRAN MAZUMDAR-SHAW TO BECOME INDIA’S RICHEST SELF-MADE WOMAN

is self-made, up from 54% five years ago, is what truly inspires me about the Indian wealth creation story. According to Anas Rahman Junaid, MD and Chief Researcher, Hurun India, 79% of the new faces this year are also self-made. He continued, “First-generation business owners and professional managers are creating wealth at a rapid clip and are a key factor in India’s GDP quickly crossing the $5 trillion threshold.”Hurun India added that the list has evolved to be more “inclusive,” with 55 women on it this year compared to 13 a decade ago. With the increase in self-made entrepreneurs and the number of women entrepreneurs, it is exciting to see how much the Indian entrepreneurial ecosystem has contributed to this list, according to Yatin Shah who is the co-founder and joint CEO of IIFL Wealth.

Nayar, born and raised in Mumbai, Maharashtra, comes from a Gujarati family. With the help of her mother, her businessman father managed a small bearings company. She holds a graduate degree in business and economics from Sydenham College and postgraduate degrees in management from the Indian Institute of Management Ahmedabad Nayar spent 19 years with the Kotak Mahindra Group, joining it in 1993. She was appointed as managing director in 2005 and left her position in 2012. At the age of 50, Falguni launched Nykaa in April 2012, with $2 million of her own funds. By 2021, Nykaa’s value had increased to $2.3 billion, bringing Nayar’s net worth to an estimated $1.1 billion. Nykaa went public on November 10, 2021, with a $13 billion valuation. Soon after Nykaa went public, Nayar’s net worth grew to $6.5 billion, making her the richest woman in India and catapulting her into the top 20 richest Indians. In 1987, she got married to Sanjay Nayar. They both met at a business school. Her husband serves as the CEO of Kohlberg Kravis Roberts India. Adwaita Nayar and Anchit Nayar are her two children.

AS THE ETHEREUM MERGER IS OVER, WHAT DOES IT MEAN FOR CRYPTOCURRENCY HOLDERS?

The long-awaited merge of Ethereum, the most popular altcoin and second-largest cryptocurrency by volume, was finally completed on Thursday. After dominating the smart contract blockchain market for many years, ethereum will switch to a less energy-intensive technology as a result of the network upgrade. The Ethereum foundation has been calling the upcoming updates “Ethereum Merge” for months, even though you may have previously heard of them as Ethereum 2.0 or Eth2. Industry experts have been closely monitoring each development leading up to the update because they believe it could materially change the value of the second-largest cryptocurrency. In the hours following the merger’s conclusion on Thursday morning, the price of Ethereum fell below $1,500. Along with the merger this week, next week’s Federal Reserve meeting, which is anticipated to result in another federal interest rate hike, could cause new volatility in the price of ethereum.

What Effect Will the Ethereum Merger Have on Your Cryptocurrency Investments?

According to some experts, the update could help Ethereum grow again after new blockchain initiatives reduced its market share over the previous six months. In an episode of his podcast “Crypto Over Coffee” from earlier this year, the YouTuber and crypto educator Hashoshi stated, “I do believe that we will see a positive reaction in the markets post-merge.” That’s because, according to Hashoshi, the ethereum merge could reduce Ethereum’s energy consumption by at least 98% while also enhancing security and stability and speeding up processing. According to Armando Aguilar, an independent cryptocurrency analyst and former digital asset strategist at Fundstrat Global Advisors, related altcoins may see a price increase as a result of this upgrade. According to him, “the positive momentum will be for those projects that are building on top of Ethereum,” among them are polygon and arbitrum. The ethereum ecosystem, which will enable the network to scale, reduce transaction costs, and encourage more adoption of blockchain technology, may put additional pressure on rival protocols like solana and polkadot.

“Proof of Work” and “Proof of Stake”

PoW and PoS are protocols designed to ensure that transactions are valid and that the blockchain network remains secure and decentralised. Bitcoin uses a mechanism called proof-of-work (PoW) to control how blocks are created and how the network’s integrity is maintained. PoS is a different consensus mechanism that gives the holders of a particular token control over the network. PoW has long been criticised for consuming so much energy.

What makes Ethereum Merge crucial?

A significant development in the history of cryptocurrencies is the Ethereum Merge. The Merge dramatically increases Ethereum’s security, according to Justin Drake, one of the key researchers driving the migration. To [take control], an attacker needs 51% of the value of the blockchain. You would require approximately $5 billion to power Ethereum using Proof of Work, which would enable you to purchase sufficient computers and transformers, connect them all to the grid, and launch an attack. We will have about $20 billion in economic security today thanks to Proof of Stake, the system Ethereum is switching to as part of the merger, and I anticipate that this amount will increase significantly. “The other interesting aspect of the Ethereum merge is that with Proof of Stake if we do suffer a 51% attack, we can precisely identify the attacker and eject them from the system. More than that, we can penalize them, including by destroying all their stake. And if they want to do a second attack, they have to rebuy.”

The result of the Ethereum Merge will have an impact on a wide range of tools and services that use the Ethereum blockchain, including decentralised applications (dApps), decentralised finance (DeFi) protocols, as well as millions of non-fungible tokens. This is in addition to improved security and more effective safeguards against fraud (NFTs). Aside from that, given the size and stature of Ethereum, this change will probably have a significant impact on the way that the cryptocurrency and larger Web3 industries grow and support effective climate change initiatives. The Ethereum Merge is important to recognise, but it’s not everything. The Ethereum Foundation intends to carry out several subsequent phases. Vitalik Buterin, a co-founder of Ethereum, said that the foundation will focus on “the Surge, the Verge, the Purge, and the Splurge,” which all seek to make Ethereum faster, safer, and more decentralised. “Ethereum will be a much more scalable system at the end of this road map,” Ethereum will eventually be able to handle 100,000 transactions per second.