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Cryptocurrency

  • Why regulating crypto assets will help grow Bitcoin adoption [Opinion]

    Last week the South African Reserve Bank released a consultation paper (see a PDF copy here) on policy proposals for crypto assets, after engaging constructively with many participants in the cryptocurrency ecosystem -- including ourselves, Centbee. In June last year, I was invited to address the Reserve Bank and it may have surprised some when I said that the Reserve Bank is "letting us all down by not providing enough regulation.” Failure to regulate creates an opportunity for public abuse and deception. Money is a fundamental part of the way any society operates, and governments have controlled how it is created and...

  • SARB calls on the public to comment on consultation paper on crypto assets

    As part of its first steps to regulate crypto assets such as Bitcoin and Ethereum, The South African Reserve Bank (Sarb) today called on the public to provide comments on a consultation paper on crypto assets. The Reserve Bank, together with other members of the Intergovernmental Fintech Working Group (IFWG), released the consultation paper yesterday (15 January). In addition to the Reserve Bank, the working group includes the National Treasury, Financial Intelligence Centre (FIC), Financial Sector Conduct Authority (FSCA), and the South African Revenue Service (SARS). In a statement today (16 January), The Reserve Bank called on the public to email their...

  • Will regulators provide more clarity on cryptocurrency in 2019?

    Governments have long been unsure over whether to treat bitcoin, Etherium and other crypto currencies as real money or not. If crypto currencies are indeed no different from fiat currencies like the Dollar or Rand, what rules should states then put in place to ensure they're safe for all to use?  Perhaps we will finally soon know. This year -- believes the manager of bitcoin exchange Luno's SA office, Marius Reitz -- is likely to see regulators provide more clarity on their stance towards cryptocurrency. In an interview with Ventureburn late last year, Reitz said he hopes such clarity will provide...

  • Three Kenyan teams in running for $500k blockhain EOS Global Hackathon prize [Updated]

    UPDATE: Block.one on Friday (7 December) awarded $500 000 to the final winner of its blockchain hackathon, GeneOS. GeneOS is a blockchain-enabled data ownership, marketplace, and secure computing platform for genomic big data. The team is based in London, Italy, the US and Hong Kong. Three Kenyan teams are part of the 19 finalists competing for the $500 000 top prize at Block.one's EOS Global Hackathon grand finale in Cape Town today (7 December). The hackathon is aimed at developing blockchain solutions. Block.one, the publisher of the EOSIO blockchain protocol, kicked of the grand finale of its EOS Global Hackathon series in Cape Town on...

  • Bitcoin price fluctuations won’t affect how we work says Luno country head

    The constant fluctuation in the price of bitcoin and other cryptocurrencies won't affect SA bitcoin exchange Luno and how it operates, says the company's SA country manager Marius Reitz. Reitz (pictured above) was speaking to Ventureburn last Thursday (29 November), a day after the price of Bitcoin jumped back by about 15% (over the previous day) to $4300. In the preceding week bitcoin declined by 35% in seven days, leading to the price of the digital currency being pegged at below $3500 in what CNBC reported as a 14-month low. Luno facilitates bitcoin storage and transactions through its bitcoin wallet service. "A 10%, 20%...

  • Blockchain fad is wearing off says man behind Jozi crypo startup DoshEx

    The fad around blockchain among startups and corporates has cooled, says the head of a Joburg-based company that develops blockchain solutions for local and international clients. "Last year you could mention blockchain and virtually anyone would open the door to you, now you need to demonstrate real value," cryptocurrency expert Alex de Bruyn (pictured above) told Ventureburn in a call yesterday. De Bruyn, runs Johannesburg based DoshEx, which launched an exchange platform in August that aims to help those it helps develop cryptocurrency and blockchain solutions to buy and sell digital tokens and claims to have already done work for Virgin Money SA (De Bruyn...

  • SA based Tari Labs unveils free online blockchain, crypto university

    Tari Labs, a contributor to SA-based blockchain protocol Tari, has launched a free online university to help incubate open-source projects and train blockchain developers, both locally and globally. In a statement today Tari Lab’s senior contributor, Cayle Sharrock, said Tari Labs University aims to become a "go-to destination" for easily-accessible learning material for blockchain, digital currency and digital assets, from beginner to advanced level. “The more blockchain experts we can help develop, the better it is for the ecosystem as a whole,” said Sharrock. “From the start, Tari Labs has been all about giving talented people the chance to develop their abilities. The Tari Labs...

  • SA startup Centbee launches app to send bitcoin cash to contacts on your phone

    SA bitcoin wallet provider Centbee yesterday announced the launch of the beta version of a bitcoin cash wallet that makes it easy to send bitcoin cash to friends. Centbee allows global consumers to acquire, hold and spend Bitcoin with retailers and other merchants. The Centbee wallet is now available in the Google Play Store and the App Store. The wallet provides access to bitcoin cash (BCH) which is an upgraded version of Bitcoin (BTC), the legacy cryptocurrency. The news follows Centbee's announcement in January that the startup had received an undisclosed amount in equity investment from blockchain research and development firm nChain Group. At the time the startup said...

  • I am well known to be fake ICO adviser – Vinny Lingham on misrepresentation

    Silicon Valley based SA entrepreneur Vinny Lingham says he has lost track of the number of times he has appeared on initial coin offerings (ICOs) as a fake adviser. "I am well known to be a fake adviser," said Lingham, adding that one Canadian company recently raised $200-million using his name as an adviser. Last month Lingham revealed that fellow South African Eran Eyal, who faces fraud charges in the US, “fraudulently misrepresented” him by claiming that he was an adviser to his startup Shopin. Read more: Springleap’s Eran Eyal misrepresented me as Shopin adviser – Vinny Lingham On Monday (1 October) Lingham again commented on what he...

  • Kagiso Interactive’s Kryptoro offers user friendly crypto exchange [Sponsored]

    Marvel Comics, EA Games, Disney, MTN, and Mahindra Kotak Bank – apart from being among the biggest and most successful companies in technology, these names form part of the client list of SA software development firm Kagiso Interactive. Kagiso Interactive, which has regularly been voted as the Best Mobile Applications Development Company in Africa and the Middle East, has recently been touted as one of the leading companies globally to watch in the space of augmented reality (AR) and virtual reality (VR). Aware of the recent explosion of cryptocurrencies across various fields, this giant of technological solutions ventures into the cryptocurrency sphere...

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