Personal Savings Feature Added to West African Platform Facilitating Crypto-t...
Duniapay, a digital banking platform created by three students from Burkina Faso, has added a personal savings feature to its banking application that already provides residents from some 14 West African countries with a flexible digital platform to access financial services. Using a Stablecoin to Save The new feature, which is viewed as another demonstration of the game-changing potential of blockchain technology, comes with an offer of over 8% annual interest on savings. This interest rate offer according to Duniapay surpasses the typical 3.5% interest that is offered by most....
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The parliament of the Economic Community of West African States (ECOWAS) has joined the list of African organizations that have cautioned against the use of cryptocurrencies. In its warning to West Africa crypto users, the legislative body insists these digital assets are too volatile and as such “their use on the African continent is not without dangers.” Refusing to Accept Crypto Not a Violation of Legal Provisions According to a report, this parliamentary warning came after the joint committee meeting that was held in Ouagadougou, Burkina Faso. The meeting, according to the....
The Museum of Modern African Art Gallery & Lifestyle (MOMAA), a platform that promotes African artworks, recently kickstarted a 30-day non-fungible token (NFT) Modern African Art Exhibition. The exhibition, which will be MOMAA’s first NFT showcase, is set to feature the works of Goran Pin or the Portraitist. Pin, a Croatian national, is an artist seen “pushing the edges of the crypto art medium on multiple levels.” According to a statement on MOMAA’s website, taking the centre stage at this exhibition will be the Portratist’s “Kings and Queens....
In terms of Crypto Adoption, the developing countries are not behind. Emerging crypto markets in West Africa, such as Nigeria and Kenya, are leading the fronts in adoption. Chainalysis reported that Nigeria and Kenya ranked among the top 20 countries in the crypto adoption index. More countries in West Africa are joining the league. Ghana, […]
A recentarticle in Forbes caused a stir. The piece was entitle "A Guide to South Africa's Economic Bubble and Coming Crisis". The article lays out the economic case that current South African economic growth is illusory: fuelled by 'hot money' and a resulting credit bubble that is ready to pop. It is argued that a global economic environment of low interest rates has resulted in the necessary economic distortions to drive this massive credit bubble. Interest rates should represent the price of savings in an economy. People either save or spend their earnings. What isn't spent is saved.....
Bitcoin mining giant BitFury has today announced a ‘strategic investment’ through its investment arm BitFury Capital in BitPesa, a Pan-African and universal payment and bitcoin trading platform. The BitFury Group, the best-funded miner in the Bitcoin industry through investments has today announced an investment of its own in African bitcoin payment and trading platform BitPesa. As a payments processor, BitPesa enables users in Africa to buy and sell local African currencies through Bitcoin. The settlement directly occurs to and from African bank and mobile money accounts. The use of....