‘Bitcoin Is Worth Zero’ — Kenyan Communication Strategist Warns African Inves...
A Kenyan communications strategist, Mwotia Ciugu, has told African investors to be wary of investing in bitcoin which he claims is worth zero. Bitcoin Structurally Incapable of Delivering on Its Promise In an op-ed published by The Elephant, Ciugu insists bitcoin (BTC) is structurally incapable of delivering on its promise of becoming an alternative store of value or a hedge against inflation. In addition, the strategist also claims bitcoin fails both as a currency and an investment. Although he concedes that Africa has one of the highest cryptocurrency adoption....
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Tech powerhouse and early blockchain developer IBM is reportedly in talks with the Kenyan government to put public records from various sectors on a blockchain. According to regional publication Business Daily Africa, IBM is looking to transform public records’ management by introducing blockchain technology in the fields of health, education and real estate. The Kenyan Ministry of Information and Communication is for the plan, noting that information stored over a public, immutable ledger will help curb fake academic certificates as well as fraudulent land transactions. Speaking at the....
On Friday, Bank of America’s (BOFA) chief investment strategist Michael Hartnett explained in a weekly financial note to clients that the U.S. economy could head into a recession. The BOFA strategist’s note further detailed that cryptocurrencies could outperform bonds and stocks.
BOFA Strategist Notes inflation Shock Is Worsening, Cryptocurrencies Could Outperform Bonds and Stocks
Bank of America’s chief investment strategist has warned the U.S. economy could feel some economic shocks. In recent times, inflation in the United States has run rampant and the....
The global lending institution, the International Monetary Fund (IMF) has told the Kenyan central bank that its proposed digital shilling must “do no harm” to existing private sector digital money. The lender insisted the proposed central bank digital currency (CBDC) must “not stifle such welcome digitalisation developments by taking away customers of banks and other digital finance providers.”
Keeping Payment System Open and Competitive
The International Monetary Fund (IMF) has reportedly said the Kenyan central bank’s proposed digital....
Bitcoin exchange igot has expanded to Kenya following the acquisition of TagPesa, a local cryptocurrency exchange and remittance gateway, and integration with M-Pesa's mobile payments service. Igot's Kenyan customers can now use the exchange's services by depositing and withdrawing Kenyan shillings either from their local bank accounts or their M-Pesa accounts. The company, which is based in Australia, also provides remittance services to over 40 countries worldwide, including the EU, Middle East and Africa. The acquisition of TagPesa allows igot customers around the world to send funds....
In Bitcoin.com News’ inaugural newsletter featuring the biggest crypto and economic news stories from Africa, the head of an African regional central bank, Herve Ndoba, implores the bank’s board to introduce a common digital currency. At the same time, the regional bank warned that the Central African Republic’s bitcoin law is incompatible with regional laws. Meanwhile, Kenyan activists have said cryptocurrencies can potentially create new ways for young people to earn. The latest Visual Capitalist rankings of countries with the highest default risk in 2022 show Ghana....