June 23rd, 2023 | 08:15 CEST
Explosive data revolution: Desert Gold Ventures, Palantir and PayPal in billion-dollar business
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Desert Gold Ventures: Geologist Doug Engdahl joins the board of directors
Desert Gold welcomes a strong new addition to its board. Geologist Doug Engdahl joins the mining company to strengthen the management team with his excellent expertise. Desert Gold Ventures owns a 440 sq km exploration and development property in West Mali, Africa.
Engdahl has successfully managed various companies, such as the Axiom Exploration Group, for over 20 years. He has gained his geological experience in more than 15 years in small and large exploration and mining companies in North America and Africa.
His primary focus is the compilation and interpretation of data. From this data, he creates drill targets and successfully conducts drill programs. He also has extensive experience in resource and mine modelling with a focus on structural geology and resource calculations. As a certified practicing member of the Saskatchewan Mine Rescue Program, he has extensive knowledge in the field.
For Desert Gold Ventures, Engdahl is a real asset. In their Senegal-Mali Shear Zone ("SMSZ") project, the team is exploring seven gold deposits located both north and south along the SMSZ project area. With a professional like Engdahl, the new drill targets can be refined, saving valuable time.
Palantir uses citizens' health data - with the consent of NHS England
The data situation regarding the disappearance of the submarine "OceanGate" is more than limited regarding the location and possible rescue of the five occupants. On the one hand, this is due to the Bluetooth technology used by CEO Stockton Rush. On the other hand, there are about 3,800 m of seawater between the surface and the submarine, rendering any sophisticated technology obsolete. GPS or radio communication no longer function effectively. Without proper data communication, the occupants are at the mercy of their fate.
It will be a different story for UK citizens in the future. None other than the US analytics company Palantir is to migrate citizens' health data to an innovative federal platform (FDP) in the future. This platform will serve as a central access point to patient data across the Kingdom's NHS care network. The NHS is engaging Palantir under a 1-year contract worth EUR 28.8 million. This started on June 12, 2023, and covers the 12-month data migration phase. The data platform itself, with all interfaces and processes, would cover one or more new contracts worth EUR 558.2 million.
NHS England already started working with the data analytics group during the Corona pandemic. In December 2020, a non-competitive contract was signed and included a data repository for COVID-19-related information and analytics. This non-competitive, benevolent collaboration may be another component of why Palantir favours London, of all places, as another location.
Critical voices such as Cori Crider, director of Foxglove, claim: "With every fat cheque handed to Palantir, it looks more and more as if the EUR 558.2 million FDP contract is not a competition, but a rigged game. More than EUR 69.7 million has now been awarded to Peter Thiel's spy tech company, without tender, without consultation and without public participation. This is bad practice for the use of public money. It is also a huge risk to patient trust."
PayPal and KKR - Billion-dollar deal with credit claims brings new business
Peter Thiel, who holds the largest stake in Palantir, rose to fame as a co-founder of PayPal. The US-based financial services provider now secures an exciting new deal from the pumping world. KKR, a leading global investment firm, has announced the deal of an exclusive multi-year agreement for a renewable credit commitment worth EUR 3 billion.
Under this agreement, private credit funds and accounts managed by KKR will acquire up to EUR 40 billion of Buy Now, Pay Later = BNPL) loan receivables originated by PayPal in France, Germany, Italy, Spain and the United Kingdom.
In the wake of high inflation and soaring prices for everyday living, more and more consumers are acting on the motto "Buy Now, Pay Later." Debt is a consequence of this, which KKR and PayPal are now addressing in a business-like manner.
Since launching its first BNPL offering in 2020, PayPal has become an industry leader with its PayPal Pay Later products, originating more than 200 million loans globally to over 30 million customers in 8 markets. In 2022, PayPal processed more than EUR 18.1 billion in BNPL payments globally, an increase of approximately 160% from 2021.
Collecting and intelligently networking data and data endpoints enables exploration companies like Desert Gold Ventures to calculate their drill targets more strategically. Thanks to new board member Doug Engdahl, the team now has a professional on board whose many years of expertise can provide the Company with time advantages. The more accurate the drilling in the seven gold areas, the higher the probability of a positive find. Investors should take a close look at the Company's presentation. Health data, unlike geological data, is a highly sensitive commodity, and it seems at first glance untrustworthy that in the wake of the Corona pandemic, the NHS contracted the US spy company Palantir to create a data repository of Covid-19 relevant data and analysis. Initiatives such as Foxglove are campaigning for proper contracting so that the opportunities to use health-related data for health care outweigh the risks. On the risk side, there is the surveillance and possible restriction of civil rights. Just think of the government lockdowns that did more harm than good. Last but not least, intelligent financial service providers can also turn unhealthy user behaviour into new business. PayPal's tempting "Buy Now, Pay Later" offer, coupled with the "you only live once YOLO" attitude of many consumers, has led to a massive accumulation of credit debt of EUR 18.1 billion worldwide in recent years.
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