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New Study Shows Crypto Volatility Biggest Barrier to Mainstream Adoption

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Meter

PALO ALTO, Calif.Nov. 28, 2018 /PRNewswire/ — Meter, a high performance decentralised stable cryptocurrency linked to the global average competitive cost of electricity, today shared the results of a new study that reveals volatility is cryptocurrency’s most pressing issue hindering mass adoption.

As the world becomes more connected through the Internet, we see more avenues for exchange of goods, services and ideas across disparate and distant borders. Meter conducted a study of 1,000 U.S. consumers who were familiar with cryptocurrency to learn about opinions and concerns around the technology.

Cryptocurrencies were created with the vision of being decentralised, streamlined units of value that can be used worldwide without manipulation. Today, evolving socio-economic structures and financial systems fostered through the Internet require a new global currency to create a healthy decentralised financial system and provide worldwide financial inclusion.

MeterMeter’s survey found that almost two-thirds of respondents believe having one global currency would be beneficial to society. More than half believe one global currency would level the economic playing field for all countries, 75 percent believe it would eliminate political pressure to inflate or manipulate a currency to meet a single nation’s needs and 65 percent think it would encourage trade growth.

Due to advancements in technology, society has shifted its spending tendencies and the majority of people are using cash less and less. In fact, 86 percent of respondents make less than half of their purchases with cash. With an overwhelming majority primarily using electronic forms of payment, it’s no wonder using a cryptocurrency doesn’t seem so far-fetched: over 90 percent of respondents would use a cryptocurrency that is stable and accepted as a form of payment almost everywhere.

However, enthusiasts and skeptics alike agree volatility is the biggest issue surrounding cryptocurrency – almost 90 percent worry about volatility. Of those who own cryptocurrencies, 60 percent cited volatility as the most inconvenient aspect of using cryptocurrency.

Of the respondents who did not own any cryptocurrencies, almost half specified volatility as the primary the reason they had not invested. More than three-quarters would be more likely to purchase cryptocurrencies if they were less volatile.

Given today’s political climate, an undertone of distrust with today’s institutions was also apparent, as 72 percent of all respondents would prefer to use a stable cryptocurrency that could not be manipulated by governments or banks. Just over one-third of respondents are satisfied with the U.S. government, and less than one-fourth believe it is ethical. Governments have typically controlled currencies, but it seems we are moving away from traditional institutions to decentralised models.

“Although cryptocurrencies have garnered much hype, none exist today that function as a true currency,” said Xiaohan Zhu, CEO of Meter. “For example, measuring values with Bitcoin is like using a ruler made from a rubber band, its value or length stretches and contracts based on supply and demand. The digital age calls for a stable unit of account that cannot be manipulated by any one party.”

Other interesting facts include:

  • More than half have used them to purchase goods and services online
  • 46 percent had used cryptocurrency to purchase goods or services related to gaming, 35 percent had purchased gift cards and 16 percent had purchased food
  • Surprisingly, Red (53 percent), Blue (61 percent) and swing states (57 percent) all felt tepid in their belief of the U.S. government’s ethicality
  • 82 percent of those who did not own any cryptocurrencies would like to own some in the future

Watch an explainer video on Meter and view the full report here.

Disclaimer: 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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UTU – the first African Blockchain Startup to announce IDO on Binance DEX

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AE Ventures

PRAGUE / NAIROBI / VADUZ, LIECHTENSTEIN Sep 20 2019Æ Ventures, an investment company that provides initial funding, acceleration, and advisory support to blockchain projects, today announced that Starfleet graduate UTU Technologies, a Nairobi-based company building a trust infrastructure for the sharing economy on æternity blockchain, is launching an IDO (Initial DEX Offering) on Binance DEX.

UTUUTU will launch its IDO on Binance DEX at Æternity Universe One, the first conference dedicated to the Æternity Blockchain’s growing ecosystem taking place September 20-21, 2019 in Prague. While IDOs are a fairly new concept, they are growing in popularity due to their independent nature, as they are independent of Binance and are 100 percent self-organized by the token issuer. UTU’s decision to employ this new funding measure is rooted in the company’s core values of trust and innovation.

UTU delivers proprietary trust recommendations to decentralized applications with the aim to disrupt anonymous star ratings and reviews, which are the current standard for discerning trustworthiness of digitally contracted service providers. The goal is to transform the online services industry by tokenizing the acquisition of users and data and creating a safe space to securely store and govern data access while providing monetary incentives for endorsing trusted service providers. UTU’s technology runs on a graph database, powered by machine learning, that is adapted for each user’s unique preferences and trust model. Therefore, in operation, UTU’s API seamlessly serves up personalized recommendations for trusted service providers on sharing platforms to drive conversion, satisfaction, retention and viral acquisition.

UTU’s technology is particularly useful for establishing trust for P2P e-commerce, P2P lending, and online professional services. For example, fintech platforms can use UTU to evaluate credit risks with little or no formal data, helping them to better understand the correlational risk to their portfolio. Online professional services like content and copywriters can use UTU to build trust and relationships, therefore driving conversion up by 20 percent, satisfaction up by 10 percent and they can generate up to 30 invites per new user.

“From the onset, our mission has been to bring real-world trust to the digital world; and we believe conducting an IDO is the next step up toward expanding this vision,” said Jason Eisen, CEO of UTU Technologies.

UTU will also showcase its technology at this year’s Æternity Universe One conference. This milestone highlights UTU’s development since participating in Æ Ventures’ Starfleet Accelerator program where they received $200,000 USD in investment and went on to win the Startup World Cup at the Trescon Global AI Show.

“The Æ Ventures team is very proud of UTU’s success through our Starfleet accelerator program,” said Nikola Stojanow, CEO of Æ Ventures. “We share UTU’s vision of providing a safer, more trusted digital world, built around relationships; and we are happy to support their efforts to build a solid blockchain ecosystem in Africa.”

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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BIAN Announces National Campus Blockchain Hackathon Focused on Sustainable Growth

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Campus Blockchain Hackathon

The Blockchain Industry Association of Nigeria (BIAN) – formerly Nigeria Blockchain Alliance (NBA) – in collaboration with the National Information Technology Development Agency (NITDA) announces the National Campus Blockchain Hackathon focused on sustainable growth. With the successful launch of Campus Blockchain Hackathon in five (5) Nigerian universities, the Blockchain Industry Association of Nigeria (BIAN), the brain box behind the Campus Blockchain Development Programme is concluding the pilot stage of Campus Blockchain Hackathon with a national programme.

Campus Blockchain Hackathon is an initiative of Blockchain Industry Association of Nigeria (BIAN), a sub-division of Cryptography Development Initiative in Nigeria (CDIN), in engaging the academic community on the importance of Blockchain Technology, its relevant use cases, and more specific, its adoption for innovative solutions. The Hackathon aimed to give Nigeria University students early exposure to the career and business opportunities being presented by the Blockchain/DLT digital innovations in order to domesticate the knowledge and skills for sustainable national development.

African tech startupsThe two-day event will bring together developers, enthusiasts, stakeholders, and students from the various teams that participated in the subsequent hackathon hosted by the initiative. With the theme; “Blockchain Innovations for Sustainable Growth,” the event is scheduled to hold in Nigeria’s federal capital territory, Abuja, on 24th and 25th of September, 2019. The National Campus Blockchain Program is proudly sponsored by Jelurida, IBM, and Nile University of Nigeria. Virtually everyone will agree, Technology can play a vital role in achieving sustainable growth. The blockchain is one of such that can help accelerate this progress. Just like the arrival of the internet which launched us into an era of technological change, the blockchain is a cutting-edge technology that possesses similar potential to redefine and transform every sector.

Through this project, the Campus Blockchain Hackathon seeks to harness innovation, by providing blockchain literacy, inclusion, skills and proffer long term solutions to critical problems towards the sustainable growth we desire.

Commenting from BIAN’s office in Abuja, Mr. Adeolu Fadele, President of BIAN said: “Education is the bedrock of any country’s development; the educational system of any country is considered as the cornerstone for meaningful achievements. The element of continuity and change remains hinged on education. Therefore, even though there is evidence of improved public understanding, increasing mainstream interest, and the emergence of startups that are building practical solutions using the blockchain technology in Nigeria today, however, all these cannot be considered to be true development until the learning institutions are carried along in a structured and sustainable manner.”

Campus Blockchain Hackathon began in October 2018, at the foremost Covenant University, Ota, Ogun State, with over 1000 participants from the first day, undeniable evidence of Nigerian students’ growing interest in emerging technology as Blockchain Technology. After which, the project reached Ahmadu Bello University, Zaria; Kwara State University; Federal University of Technology, Akure, and the University of Nigeria, Nsukka.

Speaking ahead of the event, Mr. Kayode Babarinde, National Coordinator, Campus Blockchain Development Programme said: “The enthusiasm and participation of students across the five (5) universities in which Campus Blockchain Hackathon has been successfully held, has demonstrated that student culture in Nigerian universities goes beyond the norms of obtaining the degree and getting a good job. They are beginning to think outside the box and see real value in emerging technology as Blockchain. With the National Hackathon, we can look forward to mind-blowing innovations.”

The National Campus Blockchain Hackathon will also explore and fuel insightful discussions around key areas by featuring keynote sessions, panel discussions, learning, networking amongst others. The Program is Chaired by Mr. Kashifu Abdullahi, Director General, at the National Information Technology Development Agency (NITDA).

The event is open to entrepreneurs, software engineers, blockchain developers, start-up founders, business/tech consultants, government stakeholders and as well as individual with a keen interest in the field of blockchain.

For registration and further details please refer to the event website: www.bit.ly/nationalcampushack

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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MEETUP: September 21, 2019 OKEX Brings the CryptoTour Africa 2019 to Kenya

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CryptoTour Africa
Image by OKEx

OKEx, the Malta-based mega crypto exchange, will be holding a meetup in Kenya, on September 21, 2019, featuring key speakers in the blockchain and crypto space in Kenya.

OKEx is looking to introduce its mega crypto exchange in the region to enables traders to margin trade for a profit.

The OKEx Cryptotour Africa 2019 will cover four African countries namely:

  • Ghana
  • Kenya
  • Nigeria
  • South Africa

The upcoming CryptoTour Africa 2019, Nairobi Edition, meetup will feature:

OKEx Meetup

Speakers who will be presenting at the OKEx CryptoTour Africa 2019

Roselyne Gicira – Chairperson, Blockchain Association of Kenya

Felix Macharia – Head of Operations, EOS Nairobi

Alex Matu – Crypto Trader / Trainer, BitcoinKE

Five lucky winners who attend the event will be rewarded with each winner getting 50 USDK ($50). Other gift perks will include OKEx T-Shirts, pens, key holders, and stickers for attendees.

Come enjoy great conversations, networking, drinks, and nibbles!

Event Details

DATE: Saturday, September 21, 2019

TIME: 12:00PM – 3:00PM

LOCATION: Nairobi Garage, Pinetree Plaza, Kaburu Drive, Off Ngong Road, Nairobi, Kenya

REGISTRATION LINKhttp://bit.ly/OKEXRegistrationKE

RSVP to Attend. The event is FREE.

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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