Business
The Son of South Africa’s President Aims to Conserve Wildlife with Crypto
Tumelo Ramaphosa, the youngest son of the President of South Africa, President Cyril Ramaphosa is creating innovations through the blockchain and cryptocurrency. Tumelo who has been in the blockchain space since 2010 aims to revolutionise the auction sector as well as conserve wildlife. With his company, StudEx Wildlife, Tumelo is digitizing animals by placing them on the blockchain where each animal can be bred, traded or sold and the value will be shared amongst investors.
StudEx Wildlife aims to turn endangered species to digital tokens. The company has had the plans in motion since 2016, and aims to utilise the funds raised from its Initial Coin Purchase (ICO) to fund a conservation where animals under threats of extinction will be tracked. South African Private Farmers can also reproduce endangered species and auction the animals. StudEx aims to take the auctions to a global level.
Tumelo explained, “In many ways, StudEx is trying to create and decentralize this monopoly that happens in South Africa. You have farms where farmers have their animals, with StudEx we’d be able to raise more funds through initial coin offers on the animals.” He also revealed that the firm aims to acquire industrial drones for the purpose of their conservative objectives. This would aid in tracking animals. He also revealed another aspect of the firm he says, “StudEx is a VR business. We have a VR application in development where you can immerse yourself in the world and see what the drone is seeing.” This would help investors in seeing what they are investing in or the animals they have invested in.”
Tumelo who has been in the crypto space for a while now aims to conserve wildlife and endangered species through its funding system.
