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BUIDL AFRICA for the Month of February, 2020.

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BUIDL AFRICA celebrates the developments, achievements and efforts of Africans as they work, contributing to making solutions that makes life easier and better. 

In honouring the outstanding works of Africans,  BUIDL AFRICA is proud to present for the month of February, some outstanding Africans doing great things in the continent. 

1. Personality of the Month

Mamadou Kwidjim Toure 

Mamadou is one of the most influential people in Africa. He is the founder of the Africa 2.0 Foundation which was the pioneer in designing, influencing and driving a vision for Africa through Advocacy and concrete scalable Impact Initiatives. 

After a career at the World Bank Group Mamadou left his role as a Managing Director for GE Africa investment arm to start the Ubuntu Tribe (formerly Ubuntu Coin), a platform hosting an ecosystem allowing its community to own and transact digital assets backed by ethical gold. 

The company has designed a shared economy model promoting people, profit planet and where all members of the community are eligible for shares in the company. Ubuntu Tribe has signed a partnership with 30 countries to be preferred digital currency and help set up a Panafrican Digital Asset Framework.     

Roselyne Wanjiru

Roselyne is an economist, youth mentor and blockchain strategy consultant. She is the Chief Marketing Officer at Kesholabs Blockchain Centre, a Startup Studio in Kenya, Africa.

She is a keynote speaker & thought leader in Africa’s budding blockchain ecosystem, having spoken in international conferences & media platforms on the need for innovation in and adoption of emerging technologies for economic efficiency & creation of new opportunities for youth in Africa as contributors, not just consumers in the global digital economy. 

She is passionate about leading initiatives towards appreciating & adopting Blockchain technology.

2. Community Manager of Month 

 Stephen Sunday  from Aeternity.

 Stephen Sunday, A blockchain and Cryptocurrency enthusiast with so much passion for grassroot adoption of the technology. He is the CEO of KusuConsult a blockchain consulting firm and also, he together with his team pioneered the development of a blockchain DApp (Univote) which was used in University of Jos to conduct the first public election on blockchain in Africa. 

He has been working with a couple of Blockchain companies to help push grassroot adoption in Nigeria and Africa at Large. He is currently Aeternity’s lead Ambassador for Nigeria

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3. Blockchain Article of the Month –   

 “WAKE UP CALL ON AFRICANS IN THE BLOCKCHAIN SPACE” 

Author: Eric Ohene-Agyekum Annan, Cofounder/CEO at KuBitX Limited

Entrepreneur/Blockchain Advocate  Cofounder KuBitX-Pan African Blockchain Solutions Company. Founded Digitalkudi.com cryptocurrency trading platform in Nigeria and Ghana.  

Former Lead Technical Account Manager at Huawei Technologies. Strongest values are that money is a byproduct of satisfaction obtained as a result of giving meaningful service to people. 

The desire to create such entities in collaboration with a team of selfless individuals, is to enable Africans especially, have a stake in this ever growing new economy of financial independence, freedom and economic liberation.

4. Blog of the Month –  BitcoinAfrica.io

Bitcoin Africa is a leading African information and news portal publishing contents with the aim of promoting bitcoin and its underlying technology in Africa. It also offers events & conference listing services across Africa. 

5. Brand of the Month- Buycoins (buycoins.africa)

BuyCoins is a service that enables users to trade cryptocurrency instantly with great ease. Currently based in Lagos, Nigeria and available in both iOS and Android devices, BuyCoins allows users to buy/sell cryptocurrency directly via the app easily.

According to BuyCoins, passionate about safe, secure, easy, convenient and instant transactions,  its goal is to provide a platform that serves our users’ needs – whether it is buying, selling, storing or transferring Bitcoin, Ethereum, and Litecoin – as conveniently and quickly as possible.

6. Product of the Month –  First Kudi (FirstKudi.com)

First Kudi was founded with the sole purpose of bringing the revolutionary technologies of blockchain and digital currencies to individuals on the african continent.

First Kudi empowers users to Buy, sell, send & receive digital assets including Bitcoin and U.S. Dollar stable coin, send local currencies like the Naira to friends and family for zero transaction fees, revolutionizing businesses with instant peer-to-peer transactions using local currency, make bill payments through enhanced payment networks and channels and make automated group payments quickly and securely

First Kudi was built in partnership with Ferrum Network, a high-speed decentralized network for real-world financial applications that allow people to take control of their financial lives.

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How COVID-19 Pushed the United States Senate to Consider Digital Currencies

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The ongoing pandemic appears to be a gift that keeps giving to digitized industries. In fact, the cruel realities has forced the world to innovate new ways of moving on with their lives.

The United States Senate Banking Committee, in a bid to capitalize on what seems to be one of the most disruptive payment systems in recent times, held an inquiry on the digitization of money and the facilitation of payments without borders.
The United States Senate Banking Committee, in a bid to capitalize on what seems to be one of the most disruptive payment systems in recent times, held an inquiry on the digitization of money and the facilitation of payments without borders.

The other subjects that were deliberated on by the U.S. Senate Banking Committee include issues that bear on the crypto and Blockchain Technology industry.

The virtual hearing which took place on the Tuesday, 30th of June shows that the US government is a step nearer to creating its own US Digital Dollars. The hearing enjoyed the presence of Mike Crapo, Senator Sherrod Brown, Honorable J. Christopher Giancarlo, Senior Counsel, Willkie Farr & Gallagher LLP and former Chairman, U.S. Commodity Futures Trading Commission, Mr. Charles Cascarilla, Chief Executive Officer And Co-Founder, Paxos, and Professor Nakita Q. Cuttino, Visiting Assistant Professor Of Law, Duke University School of Law.

The Coronavirus has indeed opened the world up to a realm of new possibilities. Americans had to adjust with the new times or get left behind.
This was re-iterated by Mike Crapo (R-UT), Chairman of the Senate Banking Committee, who illustrated how the pandemic forced Americans to innovate new digital solutions or adopt already existing digital means of proffering solutions.

This was re-iterated by Mike Crapo (R-UT), Chairman of the Senate Banking Committee, who illustrated how the pandemic forced Americans to innovate new digital solutions or adopt already existing digital means of proffering solutions.

Credit: Getty Images

Mike Crapo educated the Senate Banking Committee on novel technologies that have the capacity to eclipse the existing payment system. He made the Committee understand the new key players. He also urged the U.S. Government to venture into creating its own centralized digital currency which will be controlled by the Central Bank. Issues regarding the regulation of this new currency were expounded.

Credit: The Epoch Times

Crapo enlightened the Committee about a future where the US is the leader when it comes to digital currencies. He applauded the innovation of banks, FinTechs, and payment entities in their rapid adaptation in recent times. According to him:

in our last digital currency hearing, it seems to me that these and similar innovations are inevitable, beneficial, and the U.S. should lead in their development.

Crapo opened the floor by observing that cryptocurrencies have contributed to a world of seamless payment without borders. What is more, the system that backs cryptocurrencies afford the players a level of anonymity.

Although the volatility of cryptocurrencies may appear to be a downside to a number of cryptocurrencies; Crapo offered a more attractive alternative that extinguishes this disadvantage: the StableCoins. He declared that:

a new type of cryptocurrency [that] has emerged aimed at achieving these benefits while marginalizing the volatility of some of its predecessors. Stablecoins, which may be issued by a central entity, deliver price stability by having their value pegged to another asset, like commercial bank deposits or government- issued bonds.

Another prominent member of the United States Senate Banking Committee, Senator Sherrod Brown (D-OH), contributed to this discuss by taking another route.

Credit: kedm

He just did not see how adopting Cryptocurrencies is the next step in the right direction. He was of the view that there was no way the marginalized demographic which comprises of the Black and Brown Americans were going to be included in this novel banking system. He said:

We heard all kinds of promises about how cryptocurrencies like Bitcoin or Ethereum would fundamentally change our relationship with the banking system. Workers would be able to efficiently and cheaply transfer money, make online payments, or buy groceries, all without a bank account. But thats not what happenedBitcoin is primarily used by wealthy investors.

He said further:

These companies promised their algorithms would guarantee innovative products and services to people locked out of the financial system. That’s simply not true the algorithms use biased data, and we end up with more discrimination against the very people they say their products will help.

He established the need for a more inclusive Banking System and brought banking issues affecting female and Brown and Black Americans to the fore.
He noted that this demographic makes up the vast majority of America’s essential workers and it made no sense that they are impeded from accessing seamless and less costly banking service. Moreover, those who are privileged to access it among them pay through their nose to do so.

He noted that this demographic makes up the vast majority of America’s essential workers and it made no sense that they are impeded from accessing seamless and less costly banking service. Moreover, those who are privileged to access it among them pay through their nose to do so.

He urged the US Federal Reserve to adopt his new bill, the Banking For All Act, which he believed will be of more use than the creation of new digital currencies.
He noted that this demographic makes up the vast majority of America’s essential workers and it made no sense that they are impeded from accessing seamless and less costly banking service. Moreover, those who are privileged to access it among them pay through their nose to do so.

He urged the US Federal Reserve to adopt his new bill, the Banking For All Act, which he believed will be of more use than the creation of new digital currencies.

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Washington DC Lawyers Can Now accept Payments in cryptocurrency

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Lawyers within Washington, D.C jurisdiction can now accept cryptocurrency as a means of payment for their legal services according to Bloomberg’s report. Cryptocurrency can now be used as to make payments for legal services as long as there is fair agreement and it is permitted only if the lawyer knows how to store the payment safely; the district of Columbia Bar said this in an ethics opinion.
Attorneys “cannot hold back the change even if they would like to, and cryptocurrency is increasingly accepted as a payment method by vendors and service providers, including lawyers”, the organization said.
The committee acknowledged the volatile nature of cryptocurrencies and included that fairness to the client is important while making fee arrangements. Cryptocurrencies are digital currencies; the transactions are recorded on a public ledger- Blockchain and they are traded on exchanges just like stock exchanges.
However, the acceptance of payments in cryptocurrency comes with certain terms according to the opinion. First is the clear agreement on how the client is to be billed; and decision on who will be cover the gas fee for the crypto transfer, whether the lawyer or the client. The client can seek external counsel on the deal as well.
The lawyer’s fairness to the client is also important as the opinion noted that agreement fairness should be decided at the time of signing. With this, no ethical breach will occur if future events beyond the lawyer’s control occurs and makes the fee unreasonable. Lawyers must be competent and familiar with Blockchain technology, bitcoin and other cryptocurrencies so as to be able to ensure and safeguard the payments according to the opinion; the Bar “requires lawyers to understand and safeguard against the many ways cryptocurrency can be stolen or lost.”
It is no longer news that digital currency is the future of money. The phase has been set in motion and new development is reported daily. Bars in other jurisdictions like New York City, Nebraska, North Carolina have approved cryptocurrency as payment previously.

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Washington, DC Lawyers Can now accept Payments in Cryptocurrency

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Lawyers within Washington, D.C jurisdiction can now accept cryptocurrency as a means of payment for their legal services according to Bloomberg’s report. Cryptocurrency can now be used as to make payments for legal services as long as there is fair agreement and it is permitted only if the lawyer knows how to store the payment safely; the district of Columbia Bar said this in an ethics opinion.


Attorneys “cannot hold back the change even if they would like to, and cryptocurrency is increasingly accepted as a payment method by vendors and service providers, including lawyers”, the organization said.


The committee acknowledged the volatile nature of cryptocurrencies and included that fairness to the client is important while making fee arrangements. Cryptocurrencies are digital currencies; the transactions are recorded on a public ledger- Blockchain and they are traded on exchanges just like stock exchanges.


However, the acceptance of payments in cryptocurrency comes with certain terms according to the opinion. First is the clear agreement on how the client is to be billed; and decision on who will be cover the gas fee for the crypto transfer, whether the lawyer or the client. The client can seek external counsel on the deal as well.


The lawyer’s fairness to the client is also important as the opinion noted that agreement fairness should be decided at the time of signing. With this, no ethical breach will occur if future events beyond the lawyer’s control occurs and makes the fee unreasonable. Lawyers must be competent and familiar with Blockchain technology, bitcoin and other cryptocurrencies so as to be able to ensure and safeguard the payments according to the opinion; the Bar “requires lawyers to understand and safeguard against the many ways cryptocurrency can be stolen or lost.”


It is no longer news that digital currency is the future of money. The phase has been set in motion and new development is reported daily. Bars in other jurisdictions like New York City, Nebraska, North Carolina have approved cryptocurrency as payment previously.

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Hacker attempts to interrupt the Blockchain voting system in Russia

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A hacker has tried to interrupt the blockchain voting system that is currently used to determine constitutional changes in the country. Head of the Moscow’s government IT technologies department, Artem Kostyrko has said an observer node on the blockchain has been targeted, but the system still functioned perfectly despite this according to the the Russian News agency, TASS’s report. It was not lucid from the report what the hacker tried to achieve from the attack.

Kostyrko also said increased security mode has been introduced and that there was no interruption in voting; all votes are in the guaranteed delivery service as they will be recorded on the blockchain. The website was said to have gone down by the Central Electoral commission during the first day of the electronic voting due to overload on the system. Kostyrko said the observation node is currently offline while IT experts make sure it is safe to be switched on again.


The head of Russia’s observers’ movement, Golos Grigory Melkoyants said observers could not connect to the blockchain and that the issue might necessarily not be about the observer node. He suggested that the system is distributed between polling districts but it was not accepted according to Melkoyants.


According to the Russian news agency report, constitutional changes will be determined by Russians. Most importantly, whether the country’s president, Vladmir Putin will stay in power for more than the limit of two consecutive six-year terms. The voting exercise began last week Tuesday and ended on June 30th. Roughly one million applicants were registered to use the blockchain system in Moscow.


It is great news a powerful state like Russia adopted the blockchain technology to run an election. Hackers trying to disrupt it places a question mark on the famous myth that blockchain transactions cannot be hacked/traced.

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