• BURN MEDIA
    • Memeburn
      Tech-savvy insight and analysis
    • Gearburn
      Incisive reviews for the gadget obsessed
    • Motorburn
      Because cars are gadgets
    • Jobsburn
      Digital industry jobs for the anti 9 to 5!

Cryptocurrency

  • Cryptocurrencies won’t see adoption like credit cards did – Hannes Van Rensburg

    It's a been a torrid week for bitcoin and other cryptocurrencies, following China's decision on Monday to ban all initial coin offerings. Now former South African entrepreneur Hannes van Rensburg has entered the fray by questioning the sustainability of cryptocurrencies for wider use by consumers. Van Rensburg in 2011 sold his payments platform Fundamo to Visa six years ago for $110-million. Speaking at a StartupGrind Cape Town event at the Cape Town Stadium last night, he said cryptocurrrencies that utilise the blockchain won't see the same kind of adoption as credit or debit cards because of the impracticalities of settling payments on the blockchain. “The way that cryptocurrency has...

  • SA startup ProsperiProp delays ICO following China’s ban on token offerings

    South African startup ProsperiProp has delayed by one week its PROPX initial coin offerings (ICO) -- which it planned to run on Friday, 8 September -- following China's decision to ban ICOs in China and the US's moves last month to begin regulating ICOs. The ICO, which will be aimed largely at international investors looking to invest in international property and will use a cryptocurrency created by the company called “PROPX”, will now be run next week Friday (15 September). 'Based on this current market volatility, we have decided to allow the storm to pass before launching our ICO' It follows an announcement last month by ProsperiProp founder and...

  • Crackdown on ICOs only a temporary setback believes Bitcoin Foundation head

    China’s announcement today that it has banned all initial coin offerings (ICOs) might be “unexpected”, says Bitcoin Foundation executive director Llew Claasen but is only a temporary setback for startups looking to raise capital through ICOs he adds. He said the decision by Chinese authorities to ban ICOs rather than to regulate them as the US is moving to do, is simply another way to "deal with it” and that going forward regulators are likely to gain a clearer understanding on what can and cannot be done. He added however that it would be “very unfortunate” for startups in need of early-stage venture capital (VC) finance...

  • SA’s ProsperiProp plans to run two ICOs to get around crowdfunding challenge

    South African startup ProsperiProp plans to hold two initial coin offerings (ICOs) for investors to invest in international property -- with the first next Friday, 8 September -- to get around South Africa's lack of crowdfunding regulations. Traditionally investors need to put down tens to hundreds of thousands of dollars to invest in property, but ProsperiProp wants to give the man on the street a chance to invest in property The startup's founder and CEO Llew Morkel said the first ICO will be aimed largely at international investors, using a cryptocurrency created by the company, called “PROPX”. The ICO aims to raise between $60-million and $120-million in PROPX...

  • South Africa is slipping behind on regulating bitcoin — Vinny Lingham

    Silicon Valley based SA entrepreneur Vinny Lingham says South Africa is falling behind when it comes to regulating bitcoin. “I think we’re definitely behind the times. I mean Japan has just removed taxes on bitcoin yesterday. Singapore’s regulating it more, Australia etc as well. All these countries in the world are being very progressive on cryptocurrencies and whatever else and South Africa hasn’t issued any guidance on it yet,” said Lingham, in a Skype call with Ventureburn yesterday. Lingham is the CEO of Civic which makes use of bitcoin and deploys cryptographic keys to allow for the secure storage of information on mobile phones or...

  • Bitcoin exchange company BitX rebrands to Luno, launches new products

    SA Bitcoin exchange company BitX, has announced it's rebranding to Luno. Along with the announcement, the company is launching a number of new products. "We believe that decentralised digital currencies like Bitcoin will fundamentally change how the world views and uses money," said the CEO of Luno (previously BitX), Marcus Swanepoel, in a press release to Ventureburn. "Cheaper, faster and safer transactions; more privacy and financial freedom; a significantly better user experience; and ultimately, more equality by giving everyone in the world access to the same financial system. "Our new brand and product offerings are better aligned with this vision and will help drive our...

  • Cape Town VC Llew Claasen appointed executive director of Bitcoin Foundation

    The Bitcoin Foundation has appointed Cape Town venture capitalist Llew Claasen as its executive director. The appointment was announced during the Blockchain Training Conference in Toronto, Canada, on 20 June. Claasen was elected by a board of directors on 14 June. "I'm looking forward to leading the Bitcoin Foundation going forward.  There is an amazing opportunity for the organisation to help the Bitcoin ecosystem.  In the coming weeks I’ll be working closely with the board, membership, transition team and various stakeholders to create the best plan for success possible," wrote Claasen in a press release on the Bitcoin Foundation website. Claasen is managing partner...

  • The fintech revolution is here and disrupting banking, Bitcoin not so much…

    I have just returned from Money2020 in Copenhagen, effectively Disneyland for anyone interested in the fintech space. Themed "The Centre of the Revolution", the conference brought together the leading lights of the financial service industry, VC funds and also technological innovators. Just under 4 000 delegates from 70 Countries heard from 422 speakers including leading lights such as Sir Michael Morris, Chairman of Sequoia Capital, Carlos Torres Villa CEO, BBVA, Nicolas Huss, CEO Visa Europe, Blythe Masters CEO Digital Asset holdings as well as the head of Mastercard, the VP of Amazon payments, the CEO of Visa, The COO of...

  • Solar startup The Sun Exchange uses Bitcoin to fund green energy

    Crowd-lending solar energy project startup The Sun Exchange will be using Bitcoin for solar energy investment. This is a first for the Bitcoin industry. Achieved last week, the startup is able to use Bitcoin as a transactional mechanism for investing in a solar energy. The Sun Exchange is now hosting a campaign to solar power a school in Stellenbosch, South Africa. "What makes our platform unique is that investors can finance solar energy using Bitcoin and the electricity generated by the solar installation can be repaid to the investor using Bitcoin wherever they are in the world," says founder of The Sun...

  • The Bitcoin Africa Conference opens registrations for Johannesburg event

    Bitcoin and Blockchain enthusiasts will be able to attend the second annual Blockchain Africa Conference in Johannesburg. The event will be taking place from 3 to 4 March and will be hosted by Bitcoin Events Pty Ltd. The two-day conference will include industry experts, such as the CEO of CiTi, Ian Merrington; Kathryn Haun, a federal prosecutor with the U.S. Department of Justice; and co-founder and CEO of BitX, Marcus Swanepoel amongst others. Speakers will talk about their experiences with the technology, issues faced when it comes to digital currencies, as well as the impact it has on social, economic,...