Connect with us

News

You can Now Purchase Electronics Appliances with Bitcoin in Kenya

Published

on

Kenya is really crypto-excited as a Kenyan company, Boxlight Electronics has become the first company to accept payment in bitcoins for its services. As it stands, Kenya is one of the few countries in the world that holds the highest per capita holding of Bitcoin. This goes to show the extent to which the people of the Central East country has embraced cryptocurrency. Many businesses are already accepting cryptocurrencies and Boxlight Electronics has decided to take advantage of the payment system that is much easier and faster.

Boxlight Electronics, a company dealing in the sale and distribution of electronic appliances such as Televisions, Home theatres, and home appliances has started accepting bitcoin. Although the Central Bank of Kenya had warned the citizens about dealing in cryptocurrency and had even issued a circular to all banks in the country warning them against engaging in crypto-related.  The CBK had explained that cryptocurrencies could not be considered a legal tender in the country and as such investing in it seems too risky.

Robinson Murage, CEO of Boxlight Electronics explains the decision of the company saying, “We have received tons of requests from our customers to pay using digital currencies. As a company whose 90% of customers are young, tech-savvy and predominantly online we choose to be all inclusive and adapt to the needs of those that prefer this type of currency.” He also explained that there is a low adoption of bitcoin in the country he explained that Kenyan companies are skeptical of the volatility of the cryptocurrency. He adds, “Like any other market, Bitcoins price fluctuates a lot. For us, once we receive payment in Bitcoins, I track the crypto news to understand where the market is moving if its low, I’ll just hold on to them and sell or cash them when the time is right. Swings, whether upward or downward, are difficult to predict, but the overall direction is generally upward.”

Customers who want to purchase electronics from Boxlight Electronics can pay for products via several bitcoin options such as the BitPay bitcoin wallet app. The company is currently ranked as one of the best online shopping destinations in the country and Murage holds a positive view for the future of cryptocurrency. He says, “I believe Bitcoin will be seen more and more as a legitimate method of payment in Kenya,” he adds, “Digital currencies are not going away, it’s like hybrid cars, it’s the way of the future, and businesses should adopt and learn when they still have time. It’s an unstoppable revolution, one that am happy to be part of.”

 

 

 

 

 

What do you think about Boxlight’s? Share your opinion with us in the comment section below.
Image credit: pixabay, salaton njaru
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.

Spread the news
Advertisement
Comments

News

SEC Charges ICOBox & Founder for Illegal $14 million Securities Offering

Published

on

The Security and Exchange Commission of the United States SEC has filed a lawsuit against ICOBox and its founder Nikolay Evdokimo for the conduct of an illegal securities offering of ICOBox’s crypto token.

The investigation which was carried out by Brent W. Wilner also charged ICOBox for acting as an unregistered broker for cryptocurrency token sales ICO.

Based on SEC press released, ICOBox in 2017 sold unregistered digital assets to the public to raised funds in order to build a platform for initial coin offerings ICO. The amount raised was from over a couple thousand investors amounting to an estimated sale of over $14 million worth of “ICOS” tokens.

It was revealed that ICOBox assured investors the token would increase in value upon trading on cryptocurrency exchanges and holders will be able to swap them at a discount for other digital asset offerings on the platform.

The assurance of ICOBox was not met as the ICOS tokens became of no worth. According to SEC, the defendant acted as a broker but failed to register as one and help to facilitate the sales of digital assets to several dozen clients who raised over $650 million.

According to Regional Director of LA Regional Office Michele Wein Layne, ICOBox and its founder, Nikolay Evdokimov ignored the registration requirements of the federal securities law and exposed investors to investments which are now virtually worthless, without providing them information that is essential to investors to making informed investment decisions.

Based on this, the SEC has charged both the platform and its founder with violating the registration requirements of the federal securities laws and seeks injunctive relief, disgorgement with prejudgment interest and civil money penalties.

The investigation was supervised by Victoria A. Levin, Alka N. Patel, and Ms. Layne of the Los Angeles Regional Office.

ICOBox described itself as “the first and the biggest new generation Blockchain Growth Promoter and Business Facilitator for companies seeking to sell their products via ICO/STO crowdsales”.

The litigation is being conducted by Amy J. Longo of the Los Angeles Regional Office, SEC revealed.

Spread the news
Continue Reading

News

BAL Announces Partnership with French Non-For-Profit Blockchain Organization TAAL to Spread Globally Awareness on Blockchain Technology

Published

on

The Blockchain African Ladies has partnered with TAAL, a French Non for profit Blockchain training hub for women. TAAL which is an acronym for Technological Association for Advanced Learning is an organization dedicated to helping people understands new technologies; promote inclusion and equity in the blockchain sector.

Blockchain African Ladies (BAL) is a non for profit educative forum that brings together African women via blockchain education. It aims to educate African ladies on the potentials and opportunities of the technology and how they can utilize it for financial inclusion.

As an organization spread across various nations in Africa, BAL wants to build stronger ladies who will bring about great innovations from the blockchain technology. From regular meet-up, workshops, conferences, mentorship programme etc, BAL seeks to raise courageous, innovative leaders in the blockchain space.

The partnership with TAAL according to BAL is to help more women to discover Blockchain technology around the globe. “It will strongly promote innovation & inclusion for women through education. The synchronous visions of both organizations to increase adoption of Blockchain technology is a great move to promote diversity in unity.”

Blockchain technology has continued to invade various aspects of the human civilization. What was once considered a buzz word few years ago has now created an industry of its own. Cryptocurrency being the first application built using the technology has and is redefining the face of commerce globally.

As the technology presents fascinating opportunities, it is imperative for individuals to exploit them for the betterment of self and state.

Blockchain Africa Ladies has continued to spread awareness on blockchain and the opportunities which it presents the African women. This is notably evident in her drive to spread the message across Africa with the Blockchain African Ladies Conference which held in Lagos and Accra few months ago.

TAAL organizes free monthly workshops to help discover new Technologies like the Blockchain. It helps members by guiding to free educational resources and of high quality to train and certify them.

Operating in Africa, Europe and America, TAAL has impact great number of women globally.

Spread the news
Continue Reading

Exchange

Binance Acquires Spot and Derivative Crypto Trading Platform JEX

Published

on

Binance has announced its acquisition of JEX, a crypto asset trading platform offering traders spot and derivative trading services.

 

According to Binance, the acquisition will see JEX known as Binance JEX as it joins the Binance Ecosystem. It will focus on further building the crypto-assets derivatives market, as it provides Binance users with professional services including futures contracts, options and other derivative products

 

Binance will manage the JEX team and the JEX tokens run by its Foundation, introducing more utility to the JEX token. 

 

On what will become of the JEX token, Binance revealed that 

 

“The JEX tokens the long rum will be gradually distributed to all users via marketing activities and community incentives; subsequently, the tokens will be gradually retrieved and burned in various forms including trading commissions deductions and so on“.

 

JEX described itself as “the first blockchain asset transaction platform that initiated Bitcoin options trading and other crypto options trading in the world, is run by JEX Technology co., Ltd. JEX Exchange is an efficient Bitcoin futures  & Crypto options trading platform, which is devoted to the innovation and development of blockchain futures and options trading model and derivatives.

 

Binance had in earlier announced the commencement of its Open Blockchain Project. An initiative to develop stablecoins pegged to local currencies. It also unveiled its Lending Products which at its first phase was fully subscribed by over $15million in less than 10 minutes. Its second phase is set to commence in a few hours time.

Spread the news
Continue Reading

Adoption News

Coinbase Reports an Increase In The Level of Activity in Blockchain Activities Into Universities

Published

on

According to recent research carried out by a major cryptocurrency exchange platform Coinbase, it was discovered that about 56% of the top 50 Universities in the world had one of more cryptocurrency and Blockchain classes offered.

An indication of growth in interest for blockchain

This research carried out by Coinbase was published in an official blog post which also used rankings from the US news as well as world report for the listing of top 50 universities. The findings also took into account both students offering undergraduate and graduate courses.

It was discovered that twice the number of students, when compared to last year, were beginning to take courses in blockchain and Cryptocurrency.

Apart from having a doubled interest amongst the top universities of the world in taking classes on blockchain and Cryptocurrencies, the study also reflected that these students had already gone as far as creating student-run clubs related to crypto.

There was a 42% increase in the offerings related to this field.

The report also revealed that nearly 70 percent of crypto and blockchain classes are in departments that are outside computer science, including law, the humanities, and economics. A Cornell alumnus said:

“We’ve had so many professors reach out to learn more about blockchain and see how it applies to their field. It’s really cool to be part of a community where there’s so much engagement.”


Source: Coinbase

The African continent not being left out of this action

Meanwhile, the African continent is not left behind as countries such as Nigeria have shown an increased level in activities that are blockchain and cryptocurrency inclined, considering the fact that there has been a series of events both past and future that have been organised by bodies such as Cryptotvplus to increase the level of awareness amongst university students.

Spread the news
Continue Reading

Find Us

Address: 7 Kafi Street, Beside City Mall, Shoprite, Alausa, Ikeja, Lagos.

Hours: Monday—Friday: 9:00am–5:00pm

Contact: +234 817 866 6900

Trending

Copyright © 2019 Cryptoptvplus. Powered by Ma media