Bitcoin - a Booming Industry in Africa
Bitcoin is a booming industry in Africa; a lot of startups and other digital currency business are growing exponentially. The digital currency ecosystem has found many followers in Africa and this week the continent's first Bitcoin conference is taking place in Cape Town, South Africa. This first quarter of 2015 the Bitcoin industry has grown as never before. A record amount of venture capital has been placed into the digital currency on a global scale. The US$299 million invested takes the all-time total Bitcoin startup funding to US$676 million. Reports indicate The first quarter of this....
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International tech firm SAP is set to increase its Blockchain commitment as the main sponsor of the 2017 Blockchain Africa conference in Johannesburg. SAP: Blockchain Africa ‘Great for Rethinking Business’. Blockchain Africa, now in its third year, seeks to highlight the potential Blockchain technology holds for African business. According to the....
In the fourth survey about crypto adoption ran in Norway by Arcane Research and Ernst & Young (EY) in 2018, they find that the industry is booming in the country with the levels of ownership that have doubled from 5% to 10%. Moreover, bitcoin miners seem to be attracted to several traits of the country. […]
In his Africa crypto market predictions for 2022, Marius Reitz, the general manager for Luno in Africa, has predicted that Kenya will scale up the adoption of cryptocurrencies. To support this assertion, Reitz points to Kenya’s as position as the leader in the world’s peer-to-peer (P2P) traded volumes for the second year running.
Kenya’s Booming Crypto Market
Kenya is set to lead the world’s peer to peer cryptocurrency market for the second consecutive year, Marius Reitz, the general manager (GM) for Luno cryptocurrency exchange in Africa, has....
African crypto adoption has exploded in 2020, prompting fears of a heavy-handed regulatory response 2020 has seen an acceleration in African crypto adoption, with the continent emerging as the second-largest region for peer-to-peer (P2P) trading, and two African nations ranking in the top eight of the Chainalysis crypto adoption index.However, the booming growth has caught the attention of Africa’s financial regulators, sparking concerns that a rush to introduce heavy-handed oversight could quell innovation in the local crypto industry.Nigeria has led the continent’s growth in 2020,....
When the words Bitcoin and Africa appear in a sentence, the word remittance usually follows. When Bitcoin first hit the mainstream in 2013, its low-cost money transfer feature was hailed as the solution to the overly expensive remittance costs charged by the large money transfer operators (MTOs), Western Union and MoneyGram. This is especially true when it comes to transferring funds to Africa. However, in the eight years since Bitcoin was first launched, bitcoin remittances in Africa have not really taken off. Bitcoin’s Challenges in Kenya. Bitcoin is an industry that regularly likes to....