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All posts tagged "Bitcoin"

  • Simon Dingle sees crptocurrency as shaping new economic order [Extract]

    Money, argues SA investor and speaker Simon Dingle who has been designing crypocurrencies since 2011, is perhaps the most important human invention after language. But who really owns it -- you or the banks? In this extract from his latest book In maths we trust: The future of money released earlier this year, Dingle paints a vision of a future where people themselves are able to control and store their own wealth using digital money such as bitcoin or Ethereum. The new economic order The future economy is one in which money flows in and out of your world seamlessly without the friction of banking infrastructure...

  • Zim crypto exchange Golix launches and activates country’s first Bitcoin ATM

    Zimbabwean cryptocurrencies exchange Golix has launched and activated the country's first ever Bitcoin ATM which will allow customers to buy and sell Bitcoin. Golix announced the launch last week in a blog post on its website. The Bitcoin ATM will be located in the exchange's offices in Harare. In a recent email to Ventureburn, Golix communications director Nhlalwenhle Ngwenya said over 10 000 customers who are faced with a "slow and cumbersome" banking process for settling international payments had over the past six months "religiously" used the cryptocurrency exchange. Customers using Golix's Bitcoin ATM will be limited to a $5000 transaction limit Ngwenya, who...

  • Bitcoin, blockchain rules must evolve as sector matures – cryptocurrency expert

    Regulations around initial coin offerings (ICOs) and cryptocurrencies including Bitcoin should be flexible enough to enable them to be regularly updated as regulators gain a better understanding for the sector. So says cryptocurrency expert David Orban. Regulations on cryptocurrencies and ICOs differ from country to country, with some like Korea and China having banned ICOs and others such as Russia and France planning to bring out regulations on cryptocurrency (see this Bloomberg story published yesterday). Bitcoin and other tokens are not regulated in South Africa. Speaking by telephone from an event held today the Cape Town International Convention Centre (CTICC) by SA fintech startup...

  • Here’s why Kenyan startup BitPesa bought Spanish remittance platform

    Nairobi-based fintech startup BitPesa has acquired a Spanish international money transfer service TransferZero. The blockchain payments platform made the announcement on its Twitter account last week Thursday (8 February), a day after BitPesa CEO Elizabeth Rossiello spoke about the acquisition in New York at the Yahoo Finance All Markets Summit: Crypto. The deal will see TransferZero -- which handles international remittances, payments and collections in more than 200 countries -- retain its name and continue to operate in Spain. Focus on building infrastructure across Europe and Africa Rossiello said setting up such infrastructure across Europe and Africa has "always been a focus of ours" and...

  • 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...

  • Q&A: No plans for Bank Zero to use blockchain, bitcoin says Michael Jordaan

    Venture capitalist and former FNB CEO Michael Jordaan says his new app-based Bank Zero won't be accepting bitcoin or Ethereum when the bank launches later this year. It follows Jordaan's announcement yesterday that Bank Zero is expected to launch in the final quarter of this year. Read more: Michael Jordaan blown away by all the good wishes on app-based Bank Zero "Not at (the) launch but this could happen if there is customer demand," Jordaan told Ventureburn in an email today. When asked if the bank will make use of the blockhain, he said he and his six fellow founders were not considering this at this...

  • A look at 2017: the year that was for South Africa’s tech startup ecosystem

    This year saw one of the biggest acquisitions of a South African startup - with the over $100-million GetSmarter deal. A chance meeting with 2U CEO Chip Paucek in October last year set the Cape Town based edtech startup on the road to being acquired by the US firm in a $103-million deal signed in May, but only concluded in October. But 2017 was also a year in which two new major acceleration programmes launched on the continent. Global accelerator Startupbootcamp launched a three-month programme in Cape Town in September -- the organisation's first such initiative in Africa. The inaugural programme helped bridge the gap between corporates and startups, with the initiative's first...

  • Top startup events in South Africa, Africa you should know about this week [18/12/2017]

    Looking to get into the South African startup scene or catch up on some of your skills? Well, you’ve come to the right place. There are loads of competitions, networking sessions and workshops happening around South Africa and the rest of the continent (namely Kenya, Nigeria and Ghana) that we’ve rounded up to make your life a bit easier. This article is part of a weekly series that highlights all the top startup competitions, networking sessions, workshops and conferences around South Africa, and the greater region. If you have any event recommendations for us to add to the list, or...

  • Slow Bitcoin transaction times mean it won’t replace cash – foundation head

    If you thought Bitcoin will rapidly replace cash, think again, says Bitcoin Foundation executive director Llew Claasen. High transaction fees and long confirmation times from the Blockchain will make it difficult to replace cash with the cryptocurrency, said Claasen, while speaking at a Startup Grind Cape Town event last Thursday. “So you’re kind of looking at between 10 and 30 minutes before the transaction cannot be cancelled or reversed," he pointed out. In addition the Bitcoin network can only handle four transactions per second, versus seven on the Ethereum network and 25 000 on the Visa network. There’s no way to stop Bitcoin and that’s not a bad...

  • SA entrepreneur Vinny Lingham joins US cryptofund Multicoin Capital as partner

    South African entrepreneur Vinny Lingham has joined US cryptofund Multicoin Capital as a general partner. The fund, which invests in blockchain tokens, made the announcement yesterday. The company said the announcement closely follows the official launch of a planned $100-million fund, and the addition of Brian Smith as Chief Financial Officer in September. "Vinny Lingham is a South African entrepreneur and the co-founder and CEO of Civic, a global decentralised identity platform that leverages blockchain technology and recently completed a $33-million token sale. "Lingham is also the co-founder of Silicon Cape, an NGO based in South Africa, and is a prominent investor. He is...

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