Russia, South Africa Join to Develop Blockchain Tech
At the recent Sibos event in Geneva, several organizations showed off blockchain prototypes and had plenty of discussion regarding the technology. During the event, Russia’s National Settlement Depository (NSD) and South Africa’s Central Securities Depositories (CSDs) signed a letter of intent to begin initiatives using distributed ledger protocols. A....
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Blockchain technology proponents are staking claims in Africa, paying special attention to banks. Six African banking institutions are making sure financial tech doesn’t disrupt their businesses by working together to connect their systems with distributed ledgers. Absa & Barclays Africa Testing Multiple Platforms Across the South African Region. One....
One of South Africa's largest banks has joined the global blockchain consortium led by R3CEV. Absa Bank, a subsidiary of Barclays Africa, announced today that it would be joining the 40-plus consortium, which includes a range of banks and non-bank financial institutions worldwide. Recent participants have included Chinese bank Ping An and the financial arm of automaker Toyota. The partnership is said to include an effort to develop a broader working group within South Africa focused on regional distributed ledger networks, with the goal of creating "the continent’s first distributed....
The Cape Innovation and Technology Initiative (CiTi) has announced it will launch South Africa's first digital currency hub, BitHub. It will serve to be a center point for anyone currently involved in digital currency or interested in learning more. CiTi has already made a name itself in its nearly 20 years of serving the local South African community where it has been a pioneer of new technologies. The nonprofit organizes tech meetups and events, such as a recent virtual reality community gathering, provides resources to developers and runs an incubator for local tech startups."In South....
Werner van Rooyen, head of Business Development and Growth at Bitx, the biggest Bitcoin exchange in South Africa in terms of user base and average trading volume, speaks with Cointelegraph about the penetration of Bitcoin in South Africa. Cointelegraph: How would you evaluate Bitcoin demand in South Africa? Werner van Rooyen: The demand for Bitcoin is based on the potential that the cryptocurrency has; either as an improved payment technology (means of payment) or as an alternative asset class (storage of wealth). CT: Could you paint a vivid picture of the Bitcoin Start-up landscape in....
A Blockchain research arm of a bank in South Africa has said the technology could take up to 40% of banks’ revenue if it becomes a global standard. South Africa ‘Will End Up with a Blockchain’. Speaking at the Gordon Institute of Business Science Wednesday, Rand Merchant Bank’s (RMB) Farzam Ehsani said that blockchain “calls institutions to a new....