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Cryptocurrency

  • Blockchain surveillance startup Faceter claims to raise $10m in 20 seconds

    In what could be South Africa's fastest and most successful token presale, Johannesburg-based blockchain surveillance startup Faceter claims it raised over US$10-million in 20 seconds during a sale held on Monday. Speaking in a video posted on the company's Twitter account yesterday, Faceter CEO and co-founder Robert Pothier announced the outcome of the presale and added that he "believed in the project being spread around the world". The token presale was conducted on a whitelist basis, after a process that saw over 8 000 applicants from 152 countries apply to take part in the presale, the company claimed. Faceter develops smart video surveillance solutions with...

  • SA bitcoin wallet provider Centbee announces funding from nChain Group

    SA bitcoin wallet provider Centbee has announced that it has received an equity investment from blockchain research and development firm nChain Group. The announcement was made by the nChain Group in a press release yesterday. Centbee makes it easy for a global consumers to acquire, hold and spend Bitcoin with retailers and other merchants. The funding deal was made through the nChain Group’s investment entity, nChain Reaction Ltd. When contacted via email Centbee co-founder Lorien Gamaroff  did not want to disclose details of the amount of funding or stake that nChain Reaction has taken in the startup. "I can't say much other than nChain is the only investor...

  • SA Reserve Bank expects clarity on sandboxes, taxing bitcoin by middle 2018

    The SA Reserve Bank says it is still reviewing its position on cryptocurrrency and sandboxes, and anticipates that it will be in a better place to comment on this by the middle of this year. While the Reserve Bank’s current position on virtual currencies is set out in the Position Paper on Virtual Currencies issued in 2014, Ventureburn this week asked the Reserve Bank whether it would be allowing sandboxes for testing of blockchain and bitcoin applications. While at present coin exchanges are required to report cryptocurrency transactions to the Reserve Bank, Ventureburn asked the Reserve Bank if it had taken a decision on implementing any further...

  • Gron Digital betting on $57m platform to improve gambling operators’ image

    Tebogo Makamo, the former head of compliance at the Gauteng Gambling Board, is hoping that his blockchain platform Gron Digital will become an industry standard in making the gambling sector more transparent. The startup launched a pre-initial coin offering (pre-ICO) earlier this week. The platform, claims Makamo, will use blockchain (and smart contracts specifically) to among other things, improve transparency around gambling winnings and ensure that South Africans stick to the law and use only licensed operators to gamble online. The startup plans to launch the ICO proper on 6 February and raise the equivalent of 57 000 Ethereum coins (valued at $57.4-million on 24 January...

  • Former gambling board man behind Gron Digital says ICO is backed by experts

    The man behind an initial coin offering (ICO) expected to launch next month has played down the negativity surrounding the use of ICOs and claims his ICO -- which aims to tackle legacy issues of trust and fair competition in the gambling sector -- will be backed by "trusted" experts. In a press release today announcing the launch of its pre-ICO to develop an open gaming platform, CEO of Gron Digital Tebogo Makamo said ICOs have recently seen plenty of negative press surrounding them as they’ve been "overdone, overworked and have often under-delivered”. “However, not all ICO’s are created equal and the one developed by...

  • SA startup Luno’s Malaysian bank account still frozen as tax probe continues

    Almost a week in SA bitcoin exchange Luno's bank account in Malaysia remains shut, after being frozen by the country's tax authority late last week. It follows a statement issued last Saturday (13 January) by the company that its account -- held under the name of its local entity BitX Malaysia – was frozen by the tax authority pending an investigation. In a report in Malaysian newspaper The Star today Inland Revenue Board’s (IRB) chief executive officer Datuk Seri Sabin Samitah said the tax authority is carrying out the audit to determine whether the cryptocurrency company has complied with the statutory requirement under the...

  • SA startup GoMetro to be part of ICO run by UK internet of mobility company

    Smart mobility startup GoMetro will be part of a UK initial coin offering (ICO) run by internet of mobility company Tsio Protocol, says the Cape Town based startup's founder Justin Coetzee. Coetzee told Ventureburn on Tuesday that GoMetro's new flex platform will form part of Tsio Protocol's minimum viable ecosystem and that the ICO will take place "towards the end of March". "They're raising it and we're part of their consortium," said Coetzee. "If they are successful in their fund raise, they will be integrating their token into our system," he said. It follows the announcement by Coetzee in November last year of plans to trial GoMetro's new...

  • Ripple’s Stefan Thomas to give keynote address at the Blockchain Africa 2018

    The producer of the well-known “What is Bitcoin?” video, Ripple chief technology office Stefan Thomas, will give the keynote address at this year's Blockchain Africa Conference, which takes place in Johannesburg on 8 and 9 March. The announcement was made in a press release today by the event's organiser Bitcoin Events. Ripple provides enterprise blockchain solutions for global payments. Thomas is also known for his open-source software projects, such as BitcoinJS, are widely used in the industry serving millions of cryptocurrency users. Since joining the San Francisco-based company in 2012, he co-created the Interledger protocol (ILP), an open protocol for moving value across  ledgers in the same way...

  • SA swimmer Natalie du Toit connected to new ICO to target amateur sports sector

    Paralympic SA swimming star Natalie du Toit is working with Pretoria-based startup Sports Podium to launch an initial coin offering (ICO) to fund the first "knowledge-based digital sports economy" for sportspeople. The ICO, which was to have taken place last year will instead take place in the next few months, says Sports Podium co-founder and COO Jaco Rossouw. He told Ventureburn today that the high number of ICOs held last year would have made it difficult for Sports Podium to stand out from the crowd. "There's no set date yet, but the envisaged date is quarter two of this year," he added. Rossouw said Du Toit -- who holds the role...

  • Wala ICO nets just 4% of $30m target, but Newtown Partners praises result

    SA fintech startup Wala may have been able to raise just four percent of the $30-million it aimed to net in an initial coin offering (ICO) that ended last week -- but the head of the firm behind the raise, SA venture capital (VC) firm Newtown Partners, says it's an "excellent result". Data provided by independent ICO database ICO Drops shows that the VC firm raised almost $1.2-million for a crowdfunding token sale of Dala, a new financial services utility token built on the Ethereum blockchain. The ICO ran between 1 December to 11 December and a total of 1 billion tokens were issued of which 30%...