Tag: Africa

South Africa Wants to Mandate Registration of Crypto Service Providers

South Africa Wants to Mandate Registration of Crypto Service Providers A regulatory working group in South Africa, which includes the country’s central bank, has released a consultation paper on crypto assets this week. According to the document, all exchanges, wallet providers, Bitcoin ATMs and payment processors will have to register […]

Africa Dominates Trade Volume on P2P Bitcoin Exchange Paxful

Africa Dominates Trade Volume on P2P Bitcoin Exchange Paxful Paxful Inc., a peer-to-peer bitcoin exchange, is seeing significant growth in Africa. The U.S.-based company said Africans now accounted for the largest number of people buying and selling cryptocurrency on its platform, with average monthly transactions totaling $ 64.5 million. Also […]

Kenya’s Bithub Africa Mines Bitcoin Using Solar Power

Kenya’s Bithub Africa Mines Bitcoin Using Solar Power Bithub Africa has started using off-grid solar power to mine bitcoin and ethereum. John Karanja, the founder and chief executive officer of the small Kenyan mining operation, hopes to spread the technology to the rest of the continent while exposing the lie […]

Irresponsible Borrowing Leaves Africa on Brink of Debt Crisis – Again

Irresponsible Borrowing Leaves Africa on Brink of Debt Crisis – Again Irresponsible government borrowing has caused debt in many African countries to reach crisis level. Over the past 10 years, more than $ 80 billion in bonds have been issued to thirsty European investors by governments in Africa south of […]

Pushing the Boundaries of Economic Change: Bitcoin as a Medium of Exchange in Africa

Pushing the Boundaries of Economic Change: Bitcoin as a Medium of Exchange in Africa Bitcoin is pushing the boundaries of economic change in Africa. In East Africa, a new deal between digital currency exchange Bitpesa and a Japanese firm shows Kenyans are using bitcoin to pay for used Japanese cars, […]

US Dollar Losing Dominance as a Means for Settling Transactions in Africa

US Dollar Losing Dominance as a Means for Settling Transactions in Africa The dominance of the United States dollar as a settlement currency in Africa is being challenged by emerging payment methods in financial technology and by native African fiat currencies. In the four years to 2017, fewer people in […]

Poor Internet Access Could Slow Down Cryptocurrency Growth In Africa

Poor Internet Access Could Slow Down Cryptocurrency Growth In Africa Africa is often lauded as the next big thing for cryptocurrency adoption and development. But could poor internet access and connectivity slow down progress? A new report by the International Telecommunications Union (ITU) shows that it will cost $ 450 […]

Africa and its Antiquated Banking: Cryptocurrencies The Solution?

Africa and its Antiquated Banking: Cryptocurrencies The Solution? Africa has steadily accelerated the switch to modern technologies. But can a continent facing a crisis with antiquated banking technologies, low rate of financial inclusion, poor confidence in the banking system, and high remittance costs become the new battleground for blockchain or […]