• 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

  • SA’s Prosperiprop responds to poorly performing ICO, adding PROPX NanoChain

    Following the lack lustre performance so far of its PROPX initial coin offering (ICO) SA startup Prosperiprop has added a new offering to its current ICO. The offering will allow investors to invest in software that will help financial institutions to offer property investment products via the blockchain. Prosperiprop CEO Llew Morkel told Ventureburn on Tuesday that the new opportunity Nanochain PROPX will allow ProsperiProp to become the supplier of a financial technologies platform that will be implemented by licensed financial institutions. The PROPX NanoChain will be developed for ProsperiProp by Lucid Ocean run by Jonathan Crossland and will be funded by a PROPX token sale currently...

  • With nine days to go Prosperiprop ICO has raised just $20 000 against $20m target

    South African startup Prosperiprop may have been too optimistic when it launched its PROPEX initial coin offering (ICO) last month. With nine days to the end of the ICO the startup has raised a mere $20 269, through selling 144 154 tokens,against a targeted $20-million Through its its ICO the startup wants to allow investors a chance to invest in international property. Last month Prosperiprop founder Llew Morkel said the company was  seeking to raise between $60-million and $120-million through the ICO in PROPX tokens, valued at one dollar a piece. The company will itself retain $80-million of tokens. ICO has been a hectic...

  • ProsperiProp PROPX ICO aimed at property investments now under way

    South African African fintech startup ProsperiProp's initial coin offering (ICO) which aims to help ordinary investors to gain a share of global property investments is now under way. The fintech company launched the ICO on Friday, 15 September 2017. It will run until 31 October. With only 42 days remaining the company has raised just $17 128 through the ICO. In a press release today ProsperiProp said it plans to use a two token cryptocurrency model to reinvent traditional unit trusts, making them simpler to acquire, more cost efficient and as a result a lot more profitable. It follows the appointment last week by...

  • China’s ban of ICOs unlikely to effect long-term bitcoin sales says Luno founder

    China's ban earlier this month of initial coin offerings (ICOs) is unlikely to affect bitcoin sales in the long term -- while the volatility may in fact benefit bitcoin platforms, says the founder of Luno bitcoin platform Marcus Swanepoel. Speaking to Ventureburn yesterday following his startup's announcement of a R120-million funding round, Swanepoel pointed out that ICOs and cryptocurrency itself are two different things and that the ban is likely not effect Bitcoin sales. Read more: SA bitcoin platform Luno closes R120m round led by Balderton Capital "I don't think there will be any fallout from it," said the founder of the four-year old South...

  • ProsperiProp appoints Grant Thornton for ICO in bid to boost investor confidence

    Ahead of its initial coin offering (ICO) planned for this Friday (15 September), South African African fintech startup ProsperiProp announced today that it has appointed international auditing firm Grant Thornton to audit its business processes and financial results. Through its planned ICO startup wants to allow investors a chance to invest in international property. ProsperiProp aims to raise between $60-million and $120-million through the ICO in its own PROPX tokens, valued at one dollar a piece. The company will itself retain $80-million of tokens. Today's announcement comes just days after ProsperiProp announced last week that it had delayed its ICO to this...

  • 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 Reserve Bank offers no protection for those that take part in ICOs’

    As China's ban on initial coin offerings (ICOs) has lead to renewed concerns over the use of cryptocurrencies, South Africa's Reserve Bank says it offers "no recourse or protection" to consumers involved in ICOs. In response to questions from Ventureburn on whether it is concerned on the legality of ICOs following their banning in China and move to regulate them in the US, the Reserve Bank said in a statement to Ventureburn that it has taken note of regulatory developments surrounding initial coin offerings (ICOs). "In South Africa, cryptocurrencies are not guaranteed by the SARB (SA Reserve Bank), hence offer no recourse or...

  • 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...

WP Twitter Auto Publish Powered By : XYZScripts.com