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African Bitcoin Based Startups

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Cryptocurrencies are becoming increasingly popular in the African continent. Initially the purchase of cryptocurrencies such as Bitcoin were difficult and seemed to be expensive. This was because of high transaction charges rates and the inability to convert it into the local currencies. Those barriers put a damper on the growth and usage of cryptocurrencies in Africa. But as the adoption of Bitcoin grew in certain African nations such as Kenya, Nigeria, Ghana, Ethiopia, Zimbabwe and South Africa, Bitcoin startups also sprang up. These startups were waking up to address the African need and we will be looking at a few of them.


Bitpesa

The Kenyan based startup was launched in 2013 and is one of the most outstanding Bitcoin startups on the continent. Bitpesa was able to outshine other startups in operation due to policies put in place by the government of Kenya to improve its technological infrastructure. BitPesa is a cross border payment solutions company that offers not just bitcoins but also mobile money making cross border transactions easier in a market where transacting with overseas businesses used to be difficult. The company has expanded to other African countries and even have Chinese clients making use of its platform now. The company provides a great platform for SMEs and for business-to-business ( B2B ) transactions.

Sun Exchange

Energy is one aspect most african countries lack. This South African based bitcoin startup is providing alternative power for the continent. The Sun Exchange is an online marketplace that allows people purchase solar cells globally and have them power businesses and communities in the sunniest locations on earth. Owners of these solar assets earn 20 years of monthly rental income from anywhere at a 10% IRR (return).
 
Golix

Zimbabwe has been facing hyperinflations for some time now and the Zimbabwean dollar has practically collapse. This resulted in the people of Zimbabwe needing an alternative source of money and cryptocurrencies became the answer. The Crypto exchange, Golix enables locals to buy Bitcoins. Recently, a Bitcoin Atm was installed in the country as the exchange branches out to South Africa.

 

NairaEx

This startups is one of Nigeria’s biggest cryptocurrency exchanges.  The online exchange has given its Nigeria users the opportunity to trade with Bitcoins using Naira.

 

 

 

 

What other bitcoin based startup do you know? Share your opinion with us in the comment section below.
Image credit: Pixabay

 

Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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I am a blockchain and cryptocurrency journalist fascinated with sharing the knowledge of this wonderful technology in the simplest language possible.

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Blockchain News

Blockchain African Ladies (BAL) calls for Scholarship Applications to the ConsenSys Academy & African Blockchain Alliance (ABA) Female Skills Acquisition Program.

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The African Blockchain Alliance (ABA) in partnership with ConsenSys Academy the Educational arm of the US Based Ethereum Blockchain firm ConsenSys has announced their collaborative effort in driving the adoption of blockchain technology by female gender via the Female Blockchain Skills Acquisition Program.

In fostering this, the Blockchain African Ladies has received scholarships to be given to its members. This initiative according to the partners is to build a pool of blockchain developers building creative solutions for the African continents.

According to a report published in 2018, the demand for Blockchain Developers has grown in a considerably 400% over the few years the Blockchain technology found a global interest and the lack of female developers working and building on the technology has been disturbing.
The Blockchain African Ladies is a non-profit blockchain educative forum which educates African ladies on the potential opportunities on the blockchain and how they can leverage the technology to change lives.

It should be noted a few weeks ago, in driving its mission; the Blockchain African Ladies had their conference in Lagos, Nigeria where significant issues in the blockchain industry were discussed upon. It also has an upcoming conference in Ghana.

The program is highlighted to benefit successful applicants by offering rates from $1,000 to $650 to be part of the program as well as bring representation to the continent.

Successful applicants will also enjoy a Mentorship & In-Person Sessions with international mentors from ConsenSys and the Ethereum Ecosystem as well as in several numbers of Cities in Africa.

Understanding how imperative practical demonstration of acquired talents is in building oneself, the African Blockchain Alliance will also offer job opportunities to the participant who successfully completes the program via its network of working relationship with global organizations, corporate and government. The program will also serve to successful participants certificates verifiable on the Ethereum Blockchain issued from the ConsenSys Academy using their certificate issuing platform the #Ethense.

Desiring to apply for the scholarship, applicants are expected to be Female Developers and must follow the below-stated steps:

Signup/Join BAL here

Join the BAL Telegram Community;

Apply here

Deadline for submission is May 1, 2019

Selected applicants will be contacted.

 

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Bitcoin Payments on Amazon Now Possible via Moon

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Do you know that bitcoin can now be used as payment on Amazon? This is made possible by the innovation of Moon using the Lightning Network.

As announced by Moon earlier this week, the crypto payment processor initiative will enable users with a lightening wallet to utilize Moon’s latest browser extension to pay for products on e-commerce sites such as Amazon by connecting the browser extension to the Coinbase exchange account.

According to Ken Kruger – Moon CEO

The extension will pop up a QR code and it will have the lightning invoice, which you could also copy and paste if you can’t use the QR code for some reason. And you’ll be able to pay with your favourite lightning wallet.

It is not clear if Amazon fully backed the initiative. However, it has been tested to be fully operational using the specified Coinbase exchange. A further inquiry into the simple working process of the conversion of the bitcoin cryptocurrency to fiat (which is the generally accepted payment) for Amazon merchants has proven to be more private than expected- as no financial institution has accepted to be in charge of this.

However, Kruger stated that by 2020, the Lightning-enabled feature is expected to work on an e-commerce site. Whether that platform accepts Bitcoin directly or not, does not matter. Currently, users spend their crypto from their wallet on Amazon, via the plugin.

This good news is sure to launch on Wednesday 24th April 2019, and it will be on a Chrome web browser.
Speaking about Integration, Kruger said that VISA and Mastercard partnered to make integration work, and so they are going to earn a percentage equivalent to plastic cards on every transaction on the network.

In his words;

There’s no direct merchant integration. However, we’re integrating with the Visa and Mastercard network and we get a cut of the interchange fees that merchants pay every time they receive a credit card transaction.

While many argue that its a step in the right direction for Bitcoin and blockchain Adoption, others are still on the sidelines to see how it pans out in the long run.

About Moon Company

Moon is a crypto payment processing company set up in New York last year. Its staff includes only three people with just $100,000 invested by the Entrepreneurs Roundtable Accelerator. she is planning to run a Series A in 2019 together with learning users’ behavior for building its activity’

Moon browser is currently available on Chrome Browser, Brave browser, and Opera.
It is not out of place to say that the company is set to initiate support for other major retail stores like eBay, Dominos, Aliexpress Target And Etsy.

Adoption is on a steady rise in Asia in the transportation sector, in Europe in areas of remittances and insurance while in Africa, we still ask questions like “can you receive your payments in Cryptocurrency?” However, Could these moves from Moon and others be responsible for the recent bitcoin price rise?

Disclaimer:

The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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France To Push For EU Partners To Adopt Its Cryptocurrency Regulatory Framework

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It has been a formalised fact that the French parliament had cautiously approved a regulatory framework  that included rules aimed at attracting cryptocurrency issuers and traders to establish their companies and platforms in France by giving them some official recognition. In the other way, this law ensure that these issues and traders are appropriately taxed based on their profit generations. This financial regulatory framework was passed on last week.

This new cryptocurrency regulation passed in France is obviously the first of its kind adopted by a major nation. Unarguably, it will allow firms that want to issue new cryptocurrencies or trade existing ones to apply for a certification.

As has been stated before, the certification will be granted by the French market regulator for those who want it. And hence,  issuers, traders, custodians and investors will have to pay taxes on profits they make on those securities.

The major goal of this regulatory framework is to set up a market in mostly in the city of Paris for companies raising capital through cryptocurrency projects which would allow France to grab a slice of the expanding business while giving it some oversight of a niche which some fear could be a target for speculators.

Under this regulatory framework, France authorities would verify who is behind a new coin’s issuance or a trading platform, and check the companies’ business plans and anti-money laundering rules. The certification will give investors basic guarantees against outright fraud, but will not protect them against losses. However, the specific requirements companies need to abide by to get the regulatory stamp of approval are still to be defined by government decrees.

In the wave of this development, according to Reuters news report, France will ask for the European Union to adopt a cryptocurrency regulations similar to the one it brought in last week at a national level, becoming the first major country to do so.

This proposal was made known by Minister Le Marie in Paris at the event on blockchain technology. In his words: “I will propose to my European partners that we set up a single regulatory framework on crypto-assets inspired by the French experience. “Our model is the right one.”

Reuters equally reported that “the European Commission has recently launched a feasibility study on how to regulate the cryptocurrency markets, though no legislation is expected at least until late 2019 as the mandate of the current administration is ending.”

 

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Binance Labs Gifts $1500  Each To Its Three Open-source Fellowship Projects

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Binance Labs Gifts $1500  Each To Its Three Open-source Fellowship Projects

Binance Labs which is the investment arm of a major cryptocurrency exchange, Binance, it has granted $45,000 to three different blockchain development projects which it described as the “First Fellowship Round Supporting Open-Source Blockchain Development.” Each of these Open-Source Blockchain Development was gifted with $15000. The news about this development was made known in Binance blog post on Friday, the 12th of April.

Binance Lab is “an infrastructure impact fund and an initiative launched by Binance to incubate, invest in, and empower blockchain and cryptocurrency entrepreneurs, projects, and communities.” It’s mission is to “solve the problems that matter most to the ecosystem and change the world for the better.” It is an” initiative to fund and support open-source development projects that contribute and have infrastructure value to the global blockchain ecosystem.” 

Binance Labs Funds for Blockchain project

The three open-source blockchain projects are: Ironbelly, HOPR and Kitsune Wallet. The first which Ironbelly is a first of its kind, a mobile wallet for Grin/Mimblewimble blockchain whose goal is to provide an easy and simple way to hold and transfer Grins between people. It is open-source and free to use and is currently in beta testing for iOS.

The second project, HOPR, is a privacy-preserving messaging protocol that incentivizes users to participate in the network and it provides privacy by relaying messages via several relay nodes to the recipient.

The third project, Kitsune Wallet is a smart contract based account that will hold your crypto assets in a single contract while being able to change appearance depending on your need. It is the new name of Universally Upgradable Identity Proxy, which was initiated during EthParis 2019.

Support for Developers

With regard to this development, Flora Sun, Director at Binance Labs said, “We have seen firsthand how innovation depends on an engaged community of developers and entrepreneurs who imagine ideas and create new projects to bring products to market. The more talent an industry attracts to the space, the higher chance that it will be successful and Binance Labs hopes to further enable the overwhelming talent and builders of our industry. Thus, our part is to support early-stage projects that are helping to create the building blocks and infrastructure for larger utility and enabling growth in the blockchain market.”

The Binance Labs Fellowship would support developers and researchers in creating free and open-source projects which would enable new innovations and businesses in the cryptocurrency economy, as said Teck Chia, Partner at Binance Labs had hinted. She made it known that through the Fellowship, Binance wants to support early-stage projects by passionate developers who want to create the key building blocks for the entire blockchain industry. In her words, “on behalf of the Binance community, we would like to thank these projects for their contribution to the blockchain ecosystem.”

It could be summarised that,  “Binance Labs aim is to actualise the full potential of blockchain technology by supporting: (1) early-stage blockchain projects through the Incubation Program; (2) top entrepreneurs through strategic direct investments; and (3) open-source developers through the Fellowship.”

 

             

 

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