Connect with us

Blockchain News

African Bitcoin Based Startups

Published

on

By

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.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Blockchain News

270k User Data At Risk As Australian Crypto Exchange Accidentally Sends Emails En masse 

Published

on

An Australian Crypto Market Overt dubbed BTC Markets, has by a mere twist of fate jeopardised the privacy protection of its customers by accidentally baring their personal information. This way, its users are at the mercy of phishers and identity thieves. 

Business Insider disclosed how the exchange had bared the identities (names and email addresses) of more than 270,000 users when it released emails en masse to the users all at once. 

The same mail was addressed to a set of one thousand email recipients. 

This unintended disclosure came to be due to the emails sent all at once instead of mails being sent to each user personally, or better still, opting to utilize the “blind carbon copy” feature.

Any would-be identity thief would already have access to about nine hundred and ninety nine other personal data from each addressed email.

Caroline Bowler  the CEO of BTC Market explained that: 

“all account holders were affected.” 

She continued that: 

“The email was sent in batches, rather than in bulk.”

The mails could not be reversed or cut midway once it was sent.

Although sensitive data regarding passcode, financial information were not compromised, the disclosed info puts users at risk of phishers, identity thieves, and fuels the menace of obtaining by false pretences, as potential scammers now know who and who have crypto accounts.

This unintended move brings to the fore the challenges of centralizing Crypto markets. Any error or system hack can give away non-sensitive and even highly sensitive data.

With the look of things, BTC Market has to undergo an internal evaluation and timely review so as to tighten its security. To observe necessary due process, BTC Markets will  have to register this inadvertent occurrence to the Office of the Australian Information Commissioner.

Continue Reading

Blockchain News

I Didn’t Own Any Cryptocurrency Before Beam, Not Even Bitcoin – Beam CTO, Alex Romanov 

I did not have any relation or experience with any other cryptocurrency or blockchain.

Published

on

The Chief Technical Officer of Beam Alex Romanov has revealed the first cryptocurrency he ever owned. He said in the CryptoTvplus AMA Series on the 25th of November that Beam was the first cryptocurrency he owned. Not even bitcoin, he emphasized. 

He said the Beam project was the first blockchain related project he undertook. Before I started, he explained, “I did not have any relation or experience with any other cryptocurrency or blockchain. In fact, I didn’t even own any other cryptocurrency before Beam. Beam was the first cryptocurrency I actually first owned.”

This is like true for most of the team I think. We were new to this space and had to learn everything from scratch very quickly, which we did and eventually we produce Beam, Alex added. 

In the AMA session which was focused on the Beam Confidential DeFi Ecosystem, Alex also revealed the project did a hard fork in July and added a feature amongst others called Confidential Assets. 

This feature allows anyone to create a confidential token easily without special development skills. 

He also expressed his opinion on the future of the industry with emphasis on regulations as it affects privacy coins.

He said “we’ll see regulations moving forward to adapt to the new reality and understanding privacy is not something bad but something good that people need to be able to trade on blockchain”

You can watch the full session here. 

Continue Reading

Blockchain News

Beam is building Decentralized Bridges Between Chains to allow Interoperability- Beam CTO, Alex Romanov 

According to Alex Romanov, there’s a current strong trend in the industry in terms of interoperability. Beam is building  decentralized bridges between Beam, Polkadot and Ethereum. These bridges will enable anyone to move value between either of these networks and Beam in a completely decentralized way. 

Published

on

The CTO of Beam and Tech Lead has been revealed Beam is building decentralized bridges between blockchains. The bridge is designed to allow interoperability between blockchain networks such that values can be easily transferred between chains. 

This was made known on the CryptoTvplus AMA Series which aired on Wednesday, the 25th of November, 2020.

According to Alex Romanov, there’s a current strong trend in the industry in terms of interoperability. Beam is building  decentralized bridges between Beam, Polkadot and Ethereum. These bridges will enable anyone to move value between either of these networks and Beam in a completely decentralized way. 

The Beam CTO went on saying Beam definitely will lead the direction of building blockchain connecting tools. In his words 

Alex Romanov, CTO & Tech Lead, Beam
Alex Romanov, CTO & Team Lead, Beam.

Interoperability is happening, there will be more projects that connect to each other in the future and Beam will definitely lead this direction by building completely decentralized bridges that will allow to freely move value across chains and trade confidentially.”

Considering the development in the industry as regards to regulatory impact on privacy coins which Beam is one such, Alex Romanov said, in few years, we’ll see regulations moving forward to adapt to the new reality and understanding that privacy is not something bad but something good that people need to be able to trade on blockchain. 

He also said the industry will see much more serious trading on blockchain because it’s convenient and has lots of advantages. 

You can watch the AMA Session here below:

Continue Reading
Advertisement
Advertisement

Trending