Venezuela is toping the news charts with ways to revive its economy using cryptocurrency. The South American country has launched a youth bank to be funded by its very own cryptocurrency, El Petro. President Nicolas Maduro announced on Thursday that the country will set up a bank for students and young people and the bank will begin its operations with 20 million petros.
Maduro disclosed during a youth ceremony in the state of Aragua yesterday that close to 1.2 billion dollars-worth of the cryptocurrency would be given to the new institution to get it up and running, and that the bank would support “productive initiatives.” The country is also considering a mining farm as the president said that every university should have a mining farm to produce cryptocurrencies in order to strengthen the economy of Venezuela.
Although El Petro, the country’s cryptocurrency was launched in February 2018, the action was met with disapproval from both opposition party and the U.S. for trying to boycott its sanctions. However the president was jubilant that one million young people are now part of the Chamba Juvenil Plan. A mechanism called the Carnet de la Patria will allow more youths become a part of the program that allows the population to receive directly the benefits offered by the government. We do hope that these efforts help the country’s economy.
What do you think about Venezuela’s cryptocurrency funded youth bank? Share your opinion with us in the comments section below.
Image Credit:blocktribune
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.
The Fructus Token sale has been successfully completed.
In an update on the linkedin handle of the company, it is reported that the help and support of fructus community had resulted in the sale of over 10million XFRC tokens on Ethereum’s Erc-20based blockchain network.
Team Fructus announced that in the coming day, listing and trading on multiple exchanges will commence and all community members are adviced to stay connected to the channels for updates.
Fructus team is grateful for support received from crypto enthusiasts, bloggers, you tubers, crypto and blockchain websites and supporters.
It goes down in history as one of the successful token sale on the highly criticized Vitalik Butterin Ethereum blockchain.
Also appreciations were shown to project ambassadors, advisors and partners. So of which are Organic token, LoMoStar, W12.io, Buzzin and Fruit company “Landwinkel Goense”
Fructus assures her community that more work in areas of project development and adoption would see to the the geometric growth of the company moving forward.
Finally, the team promised to see to the continuous growth of the community and hopes to take the first ever fruit company on the blockchain to greater heights.
Samuel Perry, popularly know as Broda Shaggi has just been named the official Brand ambassador for Blockchain and Fintech Company based in Nigeria- Tradefada.
With the increasing rate of awareness about cryptocurrency and blockchain, it is no news that celebrities are taking the center stage in the campaign to bring the 8th Wonder of the World to Africa and for Africans.
Veterans in the Music industry- Akon, Don jazzy, Eminem and a whole lot of International Celebrities have shown keen interest in the ever-evolving technology.
E-commerce is transforming the world into one global marketplace and Tradefada provides online merchants and payment solution utilizing cross-border logistics services to various e-commerce companies and traders around the world.
Tradefada – a subsidiary of sfc ltd which is the 3rd largest logistics company in china with the vision to secure to be the most dependable entity in the world of across the world and foster global trading by collaborating technology with innovation.
Cryptotvplus was live at the launch of “Broda Shaggi” as Tradafada brand ambassador held at PopHub4, Admiralty Street, Rockdrive, Lekki Phase 1,Lagos, Nigeria.
The event was graced with several blockchain thought leaders, think tanks, cryptocurrency enthusiast.
To know more about the best of breed digital asset exchange, click here
Lagos hosted a community of Dash users on the 1st of March, 2019. The conference, which took place at the CIBN Learning Centre, Yaba, was graced by notable personalities like Franklin Peters, CEO of BitFxt; Michael Ogunseye, CEO of Dash Cart; Tega Abikure, CEO of KurePay; Munachi Ogueke, Chief Business Officer of YellowCard amongst others.
As portrayed by the theme of the conference — “Promoting the Adoption and Use of Dash in Nigeria”, the conference was a one-day event aimed at addressing the adoption of Dash as a cryptocurrency in Nigeria. The contributions by key speakers at the event proved that Dash, beyond all doubt, is massively being adopted in Nigeria.
Nathaniel Luz, Lead, Dash Nigeria Business Dev, kick-started the round of presentations with an eye-opener speech. He delved into very important details about the blockchain technology and cryptocurrencies — it’s borderless transactions, financial privacy and more.
He talked about Bitcoin, and why Bitcoin may not be a solution to the massive adoption of cryptocurrency all over the world. With these, he introduced Dash, explored the details of Dash, and talked about its adoption which he tagged “Oya Over to Adoption 1,2,3…”
Nathaniel was pleased to inform the audience about the integration of Dash into many online Nigerian platforms. It is a big move towards adoption.
Here’s a list of some giant steps that Dash has made in its quest for massive adoption in Nigeria, so far.
Integration of Dash into the Kurepay Wallet
Buying airtime, data on any network just got better. With the latest adoption and integration of Dash into the Kurepay Application, you can now recharge your phone, and/or renew your data with Dash. Moreover, you can also renew your DSTV subscription packages with Dash. Thanks to Kurepay.
Kurepay also facilitates remittances across Africa.
Esusu Africa
Esusu is a platform aimed at improving financial inclusion in Nigeria by digitizing thrift contribution. With a vision to become the leading Digital Microfinance in Africa, the platform has also adopted the use of Dash, for deposits and withdrawals.
Yellow Card
With outlets in various locations in Lagos, Yellowcard is a firm that allows you to purchase cryptocurrency vouchers. Want to buy Dash? Find your way to any Yellowcard outlet closer to you and exchange your cash for some Dash.
Gigalayer
Gigalayer is an online Web hosting services provider as well as a domain provider. They have strong roots in many African countries like Nigeria, Uganda, South Africa, Kenya, and so on. GigaLayer integrated Dash as a means of payment on their platform. This means that you can now get all the web services you desire using Dash.
Dash has proven itself beyond any level of doubt that it is here to redefine the way we perceive cryptocurrencies. Infact, Bitfxt (an exchange for swapping cryptocurrencies with other cryptocurrencies or Fiat) will be listing Dash against NANO, Bitcoin and BXT soonest.
What are you waiting for! It is high time you got a Dash wallet and a reasonable amount of Dash. In 2010, a person sold 10,000 bitcoins, approximately $41, for just 2 boxes of Pizza. Do you know how much a Bitcoin costs today?
If that can be the testimony of Bitcoin, how much more Dash, which has a better sustainability plan, awesome features (InstantSend, PrivateSend, low transaction fees, decentralized voting), and scalability. All these make Dash a better choice compared to Bitcoin and some other cryptocurrencies.
Purchase Dash via any of the options listed above and move Dash into your wallet so you can be in control of your own money
You can also download the “Discover Dash app to see where you can spend Dash near you. Visit Dashnews to stay up to date on the latest dash development.
Following the resolution of the Caretaker Committee of Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) at a recent meeting, the Vice Chairperson (Policy & Regulations) has released its subcommittee’s 3 Action Steps. The 3 Action Steps are as follows:
1. Introduction of SiBAN to Law Enforcement Agencies and Regulators:
Introduce SiBAN to law enforcement agencies such as EFCC and the Nigeria Police about the establishment and objectives of SiBAN towards forging a healthy and collaborative relationship with them, thus protecting our members against illegal arrests and victimization. SiBAN will also be formally introduced to regulators such as CBN, SEC, and NDIC;
2. Introduction of ‘Register Your Business’ Campaign:
A number of platforms in the Blockchain and cryptocurrency space in the country are either not registered at all or not registered in Nigeria. To boost credibility in the space and reduce the rate at which scammers are appearing and disappearing in the space, we will campaign that Nigerian business in the space must register their businesses and also publish their RC numbers or BN numbers on their websites and publications as the case may be. Foreign firms that operate in Nigeria will be encouraged to also register in Nigeria;
3. Introduction of KYC/AML Campaign:
Advocate, prepare, and propose policies for Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance for adoption by registered members of SiBAN who own or operate Blockchain and cryptocurrency businesses in Nigeria as minimum requirement towards improving consumer protection, boosting security, and supporting laws, public policies, and regulations. We will design a KYC/AML icon or emblem that platforms who adopt our KYC/AML policies or similar policies will have the right to place on their platforms.
In the words of Senator Ihenyen, the Vice Chairman (Policy & Regulations), “At policy and regulations level, we are very concerned about the need to boost the credibility of Blockchain and cryptocurrency platforms operating in the space. This will help improve consumer protection and investor confidence. As a body of stakeholders, our approach is a self-regulatory approach which we hope we help us sanize the space while also exploring collaborations with regulators. We believe that Blockchain and cryptocurrency present massive opportunity for economic growth. But we can’t make that happen if we fail to leverage on the technology at this nascent stage.”
The 3 Action Steps have been adopted by SiBAN and the Committee on Policy and Regulations are currently working on implementation.
Last month, SiBAN’s Committee on Projects had made an inquiry into the operations of two cryptocurrency platforms in the country and made interventions that raised hope that the Nigerian Blockchain and cryptocurrency space can be safer, better, and bigger.
![](https://cryptotvplus.com/wp-content/uploads/2018/06/blockshow-africa-gif-1.gif")
