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Blockchain in Africa: The Next Frontier – An Interview with Global Gaming Africa’s John Kamara

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Global Gaming Africa

VALLETTA, Malta, September 19, 2018/ — What kind of solutions can blockchain technology offer the continent? Is Africa on the road to becoming a blockchain hub?

Africa is rising and technology is at the forefront of our growth as a continent. We have seen the explosion of the mobile space in the continent and how it has allowed a number of services and solutions to become easier. Blockchain is about to help solve a number of issues we are currently facing in the public and private sector. Pockets of blockchain innovation are fast springing up in innovation hubs across Africa, as the public and private sector alike seek effective new systems of record with trust embedded.

With Kenya, Nigeria, Uganda and South Africa among the countries taking the lead in blockchain experimentation, the financial sector looks set to be the continent’s earliest big adopter. However, development and trials are also underway to apply blockchain technology to virtually every industry sector – from health and social development to retail and agriculture. Governments are exploring ways of using blockchain to aid corruption across multiple verticals and also to push value to service sectors.

One company planning to maximize blockchain’s potential in Africa is Ecobank, a pan-African banking conglomerate with operations in 36 African countries. Ecobank’s Fintech Challenge actively seeks out fintech innovations harnessing Blockchain, artificial intelligence, machine learning and other next-generation technologies.

Other countries like Kenya and Nigeria have either set up a blockchain committee or advisory programs to explore the opportunity. Some of the happenings in the private sector around blockchain education are also key to use case of the technology, i.e IBM research on blockchain and movement of trade in Africa.  ITEX, a payment solution company servicing multiple POS solutions and software for banks across Africa is exploring blockchain for security and trust.

From my perspective, Africa is looking at blockchain as a solution to solve some of the multiple problems we have, as we pioneer digital payment technologies in Africa as well.

As we move into the African future in technology blockchain represents a perfect decentralised and incorruptible ‘truth engine’ that cannot be hacked, which will help payments, SME trade and a number of identity management and transactional problems we have in Africa.

Nairobi and South Africa have implemented crypto-friendly laws and Kenya’s president Uhuru Kenyatta has launched a blockchain and artificial intelligence task force. Do you think other African countries will follow suit?

Yes, more countries will follow and create other types of structures that will work for their economy based on their market need.

Some momentum has been gathered around the use of blockchain in Africa so far and throughout 2018. But what could be unusual is the role that governments and public sector organisations could play in raising its profile further. Typically, the development and application of emerging technologies is championed by the private sector before the public sector tends to take notice. Given that the potential use cases for blockchain align so closely with many public services, this is a technology where the public sector cannot afford to be sat in the passenger seat.

For example, the Blockchain Association of Uganda was established earlier this year to create a credible vehicle for driving standards for blockchain across industries in Uganda. The membership organisation also aims to make blockchain-related resources available to government and public-sector consumers.

We also see the evolution of the Blockchain centre for excellence positioned to provide education and train young developers on blockchain and how to build solutions that can solve African problems.

Do you foresee any difficulties with the implementation of blockchain systems? There are some concerns about the risk of crypto asset crime, including tax evasion and money laundering.

Global Gaming Africa

Source: Malta Blockchain Summit

Bitcoin’s wild skyrocket last year may well have turned the world’s interest on to cryptocurrencies, but in Africa, we “still have a long way to go” before they will be considered legal tender, and as such are not of major interest. Governments are still struggling with how to manage crypto space and this is affecting the conversation around blockchain. Any decision to buy into a new cryptocurrency would be guided by the same criteria as other investment decisions, with a focus on avoiding the “cloud” created by the crypto buzz.

African Cryptocurrency exchanges – allowing people to trade various digital currencies against African currencies – may present a more valuable prospect in the short term, but overall, he leans away from the crypto proposition in favour of blockchain solutions. These, he says, will be far more attractive investment opportunities:  It will not be as straightforward as it may sound.

A lot of African banks and governments run when they hear the word crypto because of the effect they feel it will have on the economy and also loss of control. Issues around tax evasion are real and have to be discussed with clarity for us to find a way forward.

What potential does this have to revolutionize the lives of the unbanked, does it represent an opportunity to democratize the economy?

On the private sector side, it is a huge opportunity for the fintech and private sector space. Also, the drive for financial inclusion is one that bodes well for the crypto space in Africa.  We can already see a number of exchanges set up in Africa to take advantage of this growing opportunity.

Just as Africa skipped the early fixed-line telecommunication phases of the 20th century and moved straight on to mobile phone usage, could new blockchain tech provide it with a similar opportunity to bypass inefficient systems and leap into the future?

Yes, 1000% – blockchain is going to revolutionize the way we look at tech and solutions going forward in Africa.  And blockchain on mobile is the next frontier.

There is certainly a lot of buzz around blockchain tech and its potential to bring about change in Africa. In your opinion, is this sense of optimism realistic or are we jumping the gun a bit?

It is optimistic but needs guidance and clarity. It is also a huge educational opportunity for various private sector companies to create a whole new revenue and income stream. Africa is the land of milk and honey at the moment and blockchain is another form of milk that is going to become huge. Some interesting things happening in blockchain in Africa:

ITEX, one of the top payment solutions in Africa and specifically, Nigeria (over 14 years old), has exposure in over 23 countries throughout Africa and is currently working on an integrated Pan-African settlement platform on the blockchain.

Paxful has announced plans to establish a blockchain incubator hub in Lagos, Nigeria, as well as to run Blockchain and cryptocurrency events in Nigeria, Ghana and Cameroon.

AID:Tech and PharmAccess are harnessing AID:Tech’s blockchain platform to collect and verify digital health data to make antenatal care more effective in Tanzania.

Kenyan real estate firm Land Layby Group plans to use blockchain to store land registry records, eliminating the existing real estate challenges of fraud, double ownership and false documents.

Kenyan startup ‘Nurse in Hand’, has signed a MoU with Apla Tech Company to build a blockchain-based accident and emergency response platform.

Blockchain start-up TariLabs has launched in Johannesburg, South Africa, with the aim of building the open source Tari blockchain protocol. The protocol is being constructed as a platform for the management, trade and use of digital assets, and will be merge-mined with the Monero blockchain.

The South African Reserve Bank (SARB) ran the Project Khokha proof of concept trialling a distributed ledger technology-based wholesale payment system in a ‘real world’ environment. It reported that the typical daily volume of the payments system could be processed in less than two hours with full confidentiality of transactions and settlement.

Jamborow, the Pan African B2B platform for financial inclusion in Africa is also building a blockchain solution to help secure data, transactional information and identity management for her clients in Africa.

These developments prove that the private sector and governments are taking blockchain seriously in the continent. The proof is in the drive of our private companies to explore and deploy funds into blockchain research as well as projects.

Distributed by APO Group on behalf of Malta Blockchain Summit.

*Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.*

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Dash Donates 1,000 books to Campus BCAT

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Dash Donates

Lagos, February 24, 2020Dash, the top digital currency for payments and local adoption through ​Dash Nigeria, today announced the launch of a ‘Digital Cash Awareness Drive’ inclusive of distributing over 10,000 copies of ‘Digital is the Cash’ book across Nigeria, Ghana, Cameroon & Haiti in English and French languages.

1,000 copies will be donated to the ​Campus BCAT​, a project of ​CryptoTVplus​, to be distributed across 30 university libraries, BCAT clubs, & tertiary institutions in Nigeria.

Nathaniel Luz, Lead of Dash Nigeria, says this is in a bid to promote the knowledge and understanding of Digital Cash, in the barest non-technical terms possible to the mass of people. He said this is the third phase of the campaign with the previous two (2) producing ​Digital Cash academy​ in text and ​Pidgin English videos​.

Digital is the CashThe ​book​ tells the history of money, the global financial system and its failings, fintech applications, blockchain, and the need for digital cash. It teaches Digital Cash in an easy-to-understand way while portraying the advantages over the legacy financial system.

According to Tosin Miracy, Director of the Digital Cash Awareness Drive, the campaign is positioned to give proper awareness and education of digital currencies to the public and correct some false notions that have earlier prevailed.

“We’ll focus on regulators, financial institutions, student clubs, tertiary institutions and libraries that are accessible to the public. It’s our belief that by donating 10,000 copies worth $100,000 across 4 countries and 2 languages, we’ll increase the reception of individuals and organisations towards digital currencies”.

Miracy also stated that translation of the book into French is ongoing with plans to translate the book into Spanish other languages in order to reach more nations of the world.

Applications for free copies of ‘Digital is the Cash’ book can be made ​here​.

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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Blockchain Africa Conference 2020 Announces Binance as a Premier Sponsor

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Binance Sponsor

Bitcoin Events is pleased to announce Binance as Premier Sponsor of the Blockchain Africa Conference 2020

Binance, the world’s largest crypto exchange by daily trading volume, is expanding its operations in Africa and is a proud sponsor of the Blockchain Africa Conference 2020. Binance was founded by CEO Changpeng Zhao (CZ) in 2017 and is now the top global trading platform for over 100 cryptocurrencies.

At the Blockchain Africa Conference 2020, Binance will detail its expansion efforts into South Africa as well as its projects and initiatives with the Binance Charity Foundation.

“Binance is proud to be open for business in South Africa, which is one of the most exciting markets for crypto,” CZ said.

BinanceThe company’s first expansion on the African continent was in Uganda in 2018 when it opened the first fiat-crypto exchange with trading pairs with the Ugandan Shilling. Binance also partnered with a global payment technology company allowing Nigerians to purchase BTC, BUSD, BNB with Naira (NGN) with debit and credit cards.

“Binance is dedicated to increasing the freedom of money and the advancement of blockchain technology. The African continent is a major part of this mission – where millions are unbanked but remain innovative in their use of technology. The Blockchain Africa conference is leading conversations around cryptocurrency and blockchain technology in Africa and Binance is keen to communicate with key industry stakeholders and thought leaders in Africa to jointly promote technology evolution in this new era across the continent,” he added.

See You at the Blockchain Africa Conference 2020 in Johannesburg!

<< REGISTER NOW for the Blockchain Africa Conference 2020 >>

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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Terrabit Enables Web Staking for CREDIT Token Holders

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TerraBit

JOHANNESBURG, South Africa, Feb. 15, 2020 — Leading South African blockchain company Terrabit has announced the launch of web staking for its digital currency credit (CREDIT) to enable anyone with an internet connection to earn staking rewards.

TerraBit

Terrabit is a South African cryptocurrency exchange that offers fiat-to-crypto services in five African countries. The trading platform features all major coins and pays 100% of fees to users through referral. At Terrabit’s core, it offers users a decentralised digital payment solution and a hybrid PoW/PoS blockchain, CREDIT.

Terrabit provides CREDIT holders with a range of exchange options, zero transaction fees, and fast payments. Additionally, the company provides a staking platform and wallet, MiniPOS, which offers the most straightforward and rewarding CREDIT “mining” solution available on any digital device.

Now, CREDIT holders can also stake their tokens online to earn up to 100% staking reward per annum via Terrabit simple-and-easy-to-use web staking platform. This enables anyone with an internet connection to earn staking rewards when holding CREDIT.

CREDIT web staking features include:

  • Web-based CREDIT staking up to 100% per year
  • Profit is paid hourly
  • No lock-in period
  • 5 level referral
  • Easy-to-use

Daniele Marco Ronchese, founder of TerraBit and creator of CREDIT, said: “We are delighted to introduce web staking as a service to CREDIT holders as a new and convenient way to earn staking rewards.”

“Cryptocurrency staking has traditionally involved a complicated technical setup that has acted as a barrier to entry for the average investor. With our new web staking offering, we can empower all digital currency investors – big and small – to start earning staking rewards simply by holding their tokens on our secure online platform.”

To learn more about Terrabit, CREDIT and web staking, visit www.terra-bit.io.

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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