Connect with us

Features

What is Particl and Why Should You Know About It? – An Interview with “Crypto Ramble”

Published

on

Particl
Images by Particl.io

BitcoinAfrica.io reached out to Particl spokesperson Desi-Rae, who hosts a YouTube channel called Crypto Ramble, which focuses on cryptocurrencies, privacy, and the Particl Project to find out more about the highly innovative privacy-focused cryptocurrency project and how Africans can benefit from it.

Desi-Rae is a native Jamaican turned New Yorker who first learned about cryptocurrencies in 2013. She started to become actively involved in the cryptocurrency community in early 2018 when an advisor at Particl asked her if she would like to create digital content to spread the word about the project.

What is Particl and how does it differ from other privacy-focused cryptocurrency projects?

Particl is a privacy coin that is currently building its first decentralised application (DApp): an online marketplace. The project is unique because of how its privacy technology is built, and the impact it will have on the world.

Particl uses RINGCT, initially developed by Monero, which allows transaction amounts and sender information to be hidden. Particl also provides recipient anonymity. RINGCT provides one of the highest levels of anonymity among privacy coins, compared to Dash’s CoinJoin for example, and without some of the disadvantages of other privacy technologies, such as a trusted setup.

ParticlFurthermore, because it is built on the Bitcoin codebase, this gives a stable and well-understood environment for the development of DApps and inclusion of new developers in the future. There are other achievements of the project, such as it being the first to implement hardware cold-staking, that highlight the innovation and talent of the development team.

In terms of its impact, the privacy and selling features it offers with e-commerce are unique. The marketplace is the first of its kind, due to the privacy offered by RINGCT, and additional governance and escrow services. It means that users can transact with each other without the power imbalance and subsequent threats that come from using the platforms of private companies. It solves current e-commerce and finance issues such as higher barriers to entry for sellers, exploitation of sellers’ sales data, global payment infrastructures being exclusive, and needing middlemen to provide escrow services.

Particl is also, conspicuously, one of a few cryptocurrency projects that are well beyond its idea stage. The coin’s privacy features were recently audited, and the marketplace has a testnet build already available with a usable product coming soon. It is a stellar project, building secure technology, and with a pragmatic product on the horizon.

What is your role at the Particl project?

Desi-Rae CryptoRamble

I’m a Particl spokesperson and community member. I help bring awareness to the project by creating visual and written content that others can watch and read in order to discover what the project is about, how it works, and why they should get involved. I also introduce the project to as many people and contacts as I can.

I make content for Particl within the context of Crypto Ramble, a web series that focuses on cryptocurrencies, privacy, and Particl.

Why did you choose YouTube for your channel as opposed to some of the new video streaming alternatives out of the crypto sector?

I chose YouTube because I was already familiar with using YouTube as a platform to share my content. I also post Crypto Ramble videos on other platforms but have not done any live streaming in a solo capacity.

There will also be an audio podcast as an alternative to video content, coming soon.

How important is privacy for you and for cryptocurrency users, in general?

PrivacyPrivacy is very important to me. We are slowly allowing ourselves and future generations to be ensconced in an age of rapid technological change that is shedding basic tenets of self-sovereignty, such as privacy, due to the lure of convenience. I can’t speak for anyone but myself, but I would think that privacy is important for cryptocurrency users in general.

The spirit of cryptocurrency is to create a new form of institution, a decentralised one, that is not beholden to the corporate interests that dominate the status quo. Bitcoin was not just made to create a new form of money, but a trust-less form of money.

A lack of privacy equates to the same institutional powers being able to maintain that status quo. It is important to realise that privacy is not just desired by bad actors. It is a fundamental human right that is also identified by reputable institutions where these standards are established.

Particl is currently ranked 237th on CoinMarketCap and is not in the top ten largest privacy coins measured by market capitalisation. Why do you think that Particl has not managed to get more traction from investors?

Particl has an amazing development team, amazing being an appropriate word. This does not necessarily translate to the desire to generate hype while focusing on development. The project garnered a lot of attention at its start and there has been a proliferation of cryptocurrencies during and after that time. Investors and enthusiasts may not fully understand the space or may be looking for projects that they can quickly find promoted information on.

My personal assessment is that there is a lot of noise in the cryptocurrency space and that the project will make its mark again when it is ready to, with the right deliverables.

How can Africans benefit from what Particl has to offer?

Africans can benefit from what Particl has to offer by using the technology in ways that are useful to them. Cryptocurrencies allow users to take control of their personal finances and send money directly to others without the barrier of distance, and without the need to trust in companies. They can get their money across in a timely fashion and to the right people, without the stress of inefficiency or overcurious assistance.

Moreover, at this stage where cryptocurrency or blockchain as cryptocurrency is finding its feet as a new form of technology, the opportunity is there to learn how to use it and leverage the technology to deliver solutions to people in the untapped niches that make up their environment.

Particl is not just a privacy coin but a platform, with a software development kit (SDK) in the works. In a similar fashion to using a decentralised currency, Africans can use a decentralised marketplace that offers privacy, useful transaction features, and ownership of their data. They can use it in ways that are useful to themselves and their communities.

Does Particl have plans to move into the African market? Are there any existing initiatives in this regard?

Africa

As Africa is a big continent with many people self-identifying with different parts, this is an interesting question to answer. A central hub for Particl is South Africa, so Particl already has its feet firmly planted in Africa. Particl is more than open to bringing in new community members.

Particl is currently focused on the development of the project but will be focused on marketing and new projects in the future. We are open to making any new contacts. Perhaps your readers could even start thinking about potential products they would like to sell on the marketplace!

Where can people find out more about yourself and the Particl project?

People can find out more about me at http://cryptoramble.com and find out more about Particl at http://particl.io. There are links on the Particl website to various communication channels. Finally, you can follow @cryptoramble on YouTube, Twitter, and Steemit to stay up to date.

Features

Blockchain, Cloud, and Other Modern Technologies Applied in Gaming

Published

on

Technologies Applied in Gaming

Gaming has evolved tremendously since its beginnings. New technology discoveries enabled developers to create games that take the concept of fantasy to the next level, making the virtual world so much more alike to the real one. This is only possible through the implementation of new technologies in the world of gaming.

In this article, we will cover the newest technologies that have made their way into gaming, further enhancing this industry.

Blockchain

Kenya Blockchain Report

Since its invention, blockchain was quickly implemented in gaming since it allows for the creation of peer-to-peer games where users can interact without the need of a third party. This aspect made it a great fit for gambling, allowing casinos to build platforms where users can gamble directly with one another in a free and private manner.

An online casino app can already allow people to gamble in a convenient way, as long as they have Internet access. These apps are very advantageous since players don’t have any location or time zone restraints. Furthermore, online casinos are pioneers in privacy and cybersecurity, offering users an all-around quality experience.

However, blockchain can still further improve the gambling and gaming worlds. The potential of this technology is still unfulfilled but, as new startups emerge, innovation follows, making blockchain an ever more viable option for the future of gaming.

Cloud Gaming

The case for cloud gaming makes a lot of sense in 2020. Games are getting bigger each year, the hardware requirements increasing constantly. This makes it difficult for the recreational gamer to keep up with the minimum gaming standards. Updating hardware pieces can be a tedious process that many people don’t want to engage in.

Cloud technologies can allow people to play even the latest games, regardless of the type of machine they are using. Google Stadia is one of the most popular cloud gaming platforms out there. The opinions regarding its performance are varied but, Google is certainly the one company that can pull off this concept.

Ultra Realistic Graphics

Video game graphics are becoming insanely realistic. Sometimes it’s very difficult to discern between reality and a virtual game. This aspect allows for the creation of a more immersive experience, enhancing the entertainment experienced by users. Popular games like GTA 5, Red Dead Redemption 2, and Witcher 3 have some of the best graphics out there, while still being resource effective.

Facial Recognition

Some games tell the story of a protagonist, making you fall in love with that character regardless if it’s Master Chief from Halo or Mario. However, other games allow you to create an avatar, custom to your liking. Until now, this feature was technologically constrained but, facial recognition and 3D scanning can allow you to create an avatar that looks just like you. This technology can personalise the gaming experience like never before.

Virtual Reality

An obvious one on this list, VR is the one technology that can revolutionise the way we interact with games. Whilst this is still experimental and reliant on advanced hardware, with a bit more work and a few more years of waiting, VR can be a commercially viable gaming niche. Regardless if we’re talking about an online casino or an action game, VR can provide the ultimate immersive experience.

Continue Reading

Features

Reserve Bank of Zimbabwe Warms to Financial Innovation

Published

on

Financial Innovation

The Reserve Bank of Zimbabwe (RBZ) is warming to the idea of emerging financial technologies as it joins the rest of the world in cautiously welcoming digital money. This was revealed when the RBZ governor, John Mangudya, presented the country’s monetary policy statement for the year 2020 on February 17.

The latest announcement is a continuation of the central bank’s rapprochement towards emerging financial innovations after a turbulent 2018 when it had run-ins with technology companies that sold or facilitated the sale of crypto tokens to the Zimbabwean public.

RBZ’s Change of Heart

The RBZ now agrees that technology and innovations have significantly altered the financial landscape and the way financial institutions offer services and products and that Zimbabwe needs to move with the times.

In his brief statement on the topic, the governor touched on the RBZ’s progress in establishing a regulatory sandbox that will allow innovators to connect to banks and other financial institutions.

Mangudya said:

“Further to the advice in the 2019 Mid Term Monetary Policy Statement, the Bank (RBZ) has embarked on several initiatives to establish the Fintech agenda. The Bank is in the process of finalizing a regulatory sandbox framework. The framework will outline the qualification, application and evaluation criterion for entities to be admitted into the sandbox. The operationalisation of the framework will thus promote competition and efficiencies through innovation.”

RBZ now says banking institutions must upgrade their information communication technologies (ICTs) to be system consistent with developments in the ‘Fourth Industrial Revolution’. Additionally, banks are expected to explore new technologies and business models to enable them to compete in the digital age.

Statement Vague on Critical Aspects

However, the statement does not address the question of whether fintech ventures, such as privately issued cryptocurrencies, remain banned or not. There is still confusion on whether it is cryptocurrency trading that is banned or if it is the selling of tokens to the public that is banned.

The RBZ, which lacks a consistent and coherent position on this subject, appears to be reading from the same script as many of its peers from the continent. Several African central banks have previously shown a determined opposition towards privately issued tokens and the underlying blockchain technology.

Nevertheless, as the ignorance levels concerning this innovation continue to drop, so too has been the opposition. In fact, many central banks believe they can join in this space by creating their own cryptocurrencies, called central bank digital currencies (CBDCs).

Some are at very advanced stages of issuing these while others are still at the studying stage. On the African continent, the Egyptian central bank had indicated its intention to launch its own CBDC as well as Ghana and Mauritius. 

The RBZ has announced an intention to issue its own CBDC but a mere statement was enough to spark excitement among the country’s blockchain industry players.

Cautious Welcome

Cryptocurrency Token SalesBitcoinAfrica.io asked Zimbabweans involved in the country’s small blockchain space for their reaction to this latest announcement by the RBZ.

We reached out to Mike Makazhe, a young entrepreneur who says he is working to create a cryptocurrency for Zimbabweans.

Makazhe said: “I think financial institutions need to improve. It’s true most of their services are outdated and Pecunia (his crypto project) can help bring this (expected) to life.”

Another influential figure in Zimbabwe’s blockchain space, who did not wish to be identified, was less sanguine about this latest announcement.

He said: “The only thing I think about it is they are taking a dribble. They are happy with a broken system because it works in their favour.”

According to him, the RBZ is just putting on a show but lacks the will to actually implement some of the fintech proposals contained in the monetary policy.

The same sentiments were echoed by another crypto enthusiast who commented on this development in one crypto chat group on social media. The individual also noted that there was a lot of emphasis on banks and less on the private players that fall outside the RBZ’s regulatory reach.

These were also the sentiments shared by other individuals in the crypto community. They cautiously welcome this announcement but say the RBZ should be judged on implementation not the intention.

Zimbabwean institutions like the RBZ are notorious for taking their time to adopt technologies and systems that improve efficiency but are quick to implement anything that improves collection of revenues or the scarce foreign currency.

For example, it has taken the RBZ several years to capacitate a credit reference bureau, a body that can potentially end the country’s problem of high levels of non-performing loans. Some fear the same approach will be used on fintechs and the country will lag behind as the rest of the continent move ahead to adopt this innovation.

Zimbabwe’s small fintech industry expects the RBZ to issue more statements that clarify the country’s position as the year progresses. 

Continue Reading

Features

Twitter CEO Thinks Africa Will Decide the Future of Bitcoin

Published

on

future of bitcoin

The CEO of microblogging platform Twitter, Jack Dorsey, believes that Bitcoin’s future will be decided in Africa. The celebrity CEO has stood behind the first cryptocurrency over the years saying that it’s the only digital currency that has stood the test of time, gone through boom and bust cycles, and handled fierce criticism only to stay tenacious.

One of the recent tweets of Twitter CEO says that although the currency is seeing increased adoption in European countries, the future of bitcoin is in Africa. His opinion came at the end of his tour of Ghana and Nigeria. His tweet read:

Mr. Dorsey is convinced that Africa will play a crucial role in deciding bitcoin’s future success and he’s willing to stand by his words by promoting the currency in the region through tours and meet-ups. Earlier, he participated in a meet up in Ethiopia where ideas were exchanged about promoting bitcoin and the related services.

What Will Drive the Future of Bitcoin in Africa?

So, what are the factors that will drive cryptocurrency in Africa? According to the Twitter CEO, one of the largest continents is at a crossroads where economic turmoil, poverty issues, and lack of infrastructure development and financial opportunities are pushing people toward cryptocurrencies, and bitcoin is one of them. They are placing their trust in cryptocurrencies and blockchain to bypass government corruption and incompetence.

It is really interesting to note that Dorsey isn’t alone in this. There are other crypto celebrities who share his opinion including Nate Hindman, who is the head of growth at Bancor. Mr. Hindman is quite confident in cryptocurrency’s future in the African countries as he says:

“In emerging markets like Africa, the shallow reach of traditional money systems means there’s less resistance to new financial technology.”

Another nod of agreement comes from Ray Youssef, CEO of Paxful, which is a peer-to-peer marketplace for trading bitcoin. He says that we’re only noticing the growth now because we haven’t been paying attention.

Africa hasn’t gotten big into bitcoin suddenly. In fact, they’ve been using the currency for many years and not only that, but they’ve taught us a lot about the real-world use cases of bitcoin.

However, this development hasn’t come without its own challenges as cryptocurrency laws in African countries can be quite restrictive, especially in Nigeria. Ray Youssef says:

“We found a way for them to export an asset, which is gift cards, as a way to go around financial restrictions. Now, bitcoin is flooding out of Nigeria and into other African countries because of the ambition of the Nigerian bitcoin community and Paxful.”

Paxful has seen immense growth with a total of three million subscribers and almost half of them come from African countries and the subscriber base is growing at a rapid pace. According to the recent stats, Nigeria, US, and Ghana made over 15 million trades in the last year, which is 65% year-on-year growth.

And it’s not just Paxful that is witnessing amazing growth in Africa. Binance also launched a new service by the name of Binance Uganda, where citizens can purchase bitcoin directly with their fiat currency. This step is helping the country to gain access to crypto markets, improve liquidity and increase the foothold of cryptocurrency trading in Africa. Belfrics is another exchange that’s offering its trading services in Tanzania, Nigeria, and Kenya.

Having said that, the growth of the cryptocurrency industry in the continent is also going to depend on the legislation and regulations around crypto trading. Just like online gambling, as in NCAAF college games betting, cryptocurrencies must be legislated and done responsibly, putting the trust into consumers.

If reigning governments don’t decide to be intrusive and keep the markets open, cryptocurrencies, including bitcoin, are going to play a massive role in the economic growth of African countries, and the prediction of Jack Dorsey may come true.

Continue Reading

Popular Posts