Connect with us

Press Releases

10 Reasons Why Africa Will Set the Pace for Bitcoin Adoption

Published

on

bitcoin adoption

As it stands at the moment, Africa is lagging behind the rest of the world when it comes to the adoption of Bitcoin and other cryptocurrencies.

While the term “Bitcoin” is one of Africa’s most searched terms, the continent’s interest in the currency is not translating into real-life use, and there are a variety of reasons why this is the case.

But crypto experts are noticing something that could change this current start of cryptocurrency and there are even some economists who are predicting that these currencies will be the next big economic innovation that will have a positive disruptive influence.

And the many advantages that the average African will experience are the exact reason why the widespread adoption of Bitcoin is a likely reality.

Open a Free Bitcoin Wallet here!

1. Pegged against the dollar

Even the strongest currencies in Africa struggle against the US dollar, the primary currency in which Bitcoin is traded. The Rand, in particular, is struggling more than ever, depreciating as the country tries to solve its current economic woes by simply creating more. Many Africans are looking for a way to add more value to their money and by converting cash into cryptocurrency, or by taking the extra step and mining it themselves, they can do just that. View Bitcoin Price to Rand.

2. Instant payment between people

Awaiting payment slows down businesses and often some of the biggest banks on the continent have a delayed payment protocol while they do offer instant payment at an additional cost. Instant payment benefits both the payer and the payee and with cryptocurrency, this aspect is greatly beneficial to e-commerce in particular, which in emerging economies can go a long way towards encouraging entrepreneurship.

3. Secure encrypted wallets

More than 2 million people already have a secure Bitcoin wallet, which means there are already 2 million people ready to trade. Unlike the risks involved with cash and card transactions, not to mention the limiting geographical distances associated with these kinds of transactions, Bitcoin and other cryptocurrencies are safe to transact with and cannot be stolen or lost.  

4. Bitcoin is fast becoming a part of many stock and wealth portfolios

Bitcoin and similar currencies are being used by all kinds of traders to diversify their portfolios and in most cases, they are enjoying a fairly good return on their investments. For many traders, Bitcoin has become an investment alternative as it generally does pretty well and despite a few bumps over the years, it generally remains profitable. Global Stocks hasn’t outperformed bitcoin in 10 years.

5. Africa already uses instant mobile payments

Africans are no strangers to mobile currencies, which are just one step away from cryptocurrencies. Zimbabweans use EcoCash for just about all of their payment needs, continuing to buy and sell even though the country’s currency has collapsed. The framework is for the most part already in place for cryptocurrency to swoop in and make its mark.  

6. Bitcoin is down 60% from its all-time high price

This means that there has possibly never been a more affordable time for Africans to invest in Bitcoin. Since past trends have shown that Bitcoin normally picks up again, and despite what the naysayers believe, the currency shows no sign of disappearing completely or becoming financially unviable, any time soon.

7. Supply and demand

Unlike other currencies that tend to supply a nearly limitless amount of notes and coins, Bitcoin is governed by a supply and demand set up. There are only 21 million Bitcoins in existence and so demand has the power to drive up the currency value, especially when those with Bitcoin hold onto their money.

8. Crypto is becoming mainstream with Bitcoin in the forefront

Although not everyone knows or understands the complexities of these currencies, if you were to ask anyone what cryptocurrency is, their answer is likely to be Bitcoin. This is because Bitcoin has become the name synonymous with cryptocurrencies of all kinds and when people hear that there is money to be made, they take an interest.

9. Bitcoin is decentralised and not governed by any government institution.

This is arguably one of the most appealing things about Bitcoin. A decentralised currency of this kind protects users from bank collapses, bank fees and various bank policies that affect the value of their currency or determine how and to whom they may make transactions. A decentralised currency is also untouched by geographical borders and will enjoy cheaper international transactions. This type of currency is also unaffected by both inflation and deflation because it doesn’t belong to one single country.

10. Bitcoin is unaffected by global recessions

The global economy is on the brink of collapse as a massive amount of debt and economic downturn characterise many economies. And numerous economists are expecting a crash bigger than that of 2008 to come sooner rather than later. Centralised currencies are certainly in the firing line when this happens, but the decentralised cryptocurrencies are at the moment the safest option for anyone wanting to protect their wealth.

Africans can open a FREE Bitcoin wallet 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.

Press Releases

AI and Blockchain Technologies to Establish Innovative Smart Working Environments

Published

on

Sensitrust

Before the Covid-19 pandemic, smart working was still a niche paradigm adopted by few software startups, freelancers, and nomad workers. Despite the unfortunate consequences of Covid-19 in the worldwide economy, the mainstream adoption of smart working as a de-facto paradigm in the job market, let many professionals appreciate its benefits, such as the flexibility, as well as the reduced commute and costs, and a more balanced lifestyle.

Even after Covid-19, the revealed potential of smart working will impact many organizations, which will potentially evolve their business towards a hybrid model with a new schedule for professionals that blends physical and smart working. 

Sensitrust aims to push Smart Working to the next level by exploiting Blockchain and Artificial Intelligence technologies to create a smart working platform where customers and professionals can safely interact and make deals.

The Sensitrust platform will provide new mechanisms to facilitate smart working, and allow the development of products and services by means of the definition of a decentralized team.

Sensitrust

The platform will provide innovative safety measures and regulations based on AI and smart contracts to provide a secure and effective environment for the development of complex projects.

Sensitrust will support three main scenarios, namely the possibility to hire professionals from a catalog, the participation to an activity as a professional and the so-called “Call to action”, that is an innovative way to build a decentralized team to implement complex projects.

In all three scenarios, the AI engine will play an important role, since it will improve the efficiency, the effectiveness of the working practices, and the safety of negotiations and transactions in a decentralized environment.

Sensitrust 2

In particular, the AI engine, in addition to the customer and a set of external reviewers, will provide feedback on the quality of the work performed by professionals. After the work is approved, the professional will receive the agreed compensation.

While seeking for job opportunities, the AI engine will suggest the available activities, according to the verified skills of each professional. This “guided” approach aims at improving the success rate since it provides professionals with activities that better match with their true expertise.

Moreover, in the Call to Action, the AI engine will provide significant help in the customization of project campaigns to stimulate the active participation of in-platform professionals interested in the design and development of a product or service.

Finally, all the activities performed in the platform will be regulated by Smart Contracts: agreements, quality and temporal constraints, checkpoints and multiple revisions will be governed, in a decentralized, immutable, and certified manner.

SETS Token

SETS is the Sensitrust token that will be seamlessly integrated into the platform and allow users to access the platform services at a discounted price, such as:

  • Access to more qualified professionals (as a customer)
  • Access to more job opportunities (as professional)
  • Advertising opportunities
  • Advanced platform consultant, based on both AI and human experts
  • Stronger guarantees on products and services
  • Access to in-platform training material
  • Membership Subscriptions (all-inclusive packages)

Once the platform is launched, the token value considered to buy in-platform services will be the market price. For this reason, purchasing tokens during the token sale gives the unique opportunity to benefit from a value appreciation right after the token sale. Moreover, participants to the token sale will benefit from the exclusive advantages, including the early access to the platform functionalities and the free access to premium features during the initial stages of the platform launch.

SETS Tokens can be currently purchased through the official platform website: https://www.sensitrust.io at an exclusive price of 0.08€ /SETS, through Ethereum, Bitcoin, Litecoin, Tron, USDT (ERC20) and Bank transfer. Do not miss this opportunity!

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to any company, product or service mentioned in this article. 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. 

Continue Reading

Press Releases

BLOCKDeFi Virtual Conference & Exhibition 2020 Is Live on September 12-13

Published

on

BLOCKDeFi

Dr. Obiageli Ezekwesili, Senior Economic Advisor, Africa Economic Development Policy Initiative (AEDPI), is to keynote the upcoming BLOCKDeFi2020 Virtual Blockchain Conference scheduled to hold from the 12–13 September 2020 on the 2D Airmeet platform.

Dr. Ezekwesili was Vice-President of the World Bank’s Africa division and is former Nigerian Minister of Education, Minister of Solid Minerals, and a Presidential candidate in Nigeria’s last general elections. She has been a strong advocate of due process, transparency, and accountability in governance, of which she sees blockchain technology as a necessary tool for Africa’s economic transformation.

Opening time: 10:00 AM WAT

BLOCKDeFiThe conference – organised by Blockchain Nigeria User Group – is designed to bring attendees the best industry experts and thought leaders, insightful discussions with unique networking opportunities in a virtual world. Recall that #LagosBlock-DeFi:2020 previously scheduled to hold physically last May was postponed due to COVID-19 restriction guidelines. #BlockDeFi-2020 will now hold as a global technology event on a 2D interactive virtual environment.

The conference agenda is “Unpacking Blockchain and the potentials of alternative, open trustless finance in building the foundations of financial self-sovereignty in Africa!”

Conference tracks will focus on blockchain protocols making significant impacts, layer 2 technologies of Bitcoin — Lightning Network, Ethereum layer 2 scaling solutions, distributed filesystem, and other decentralised web technologies.

“We believe that Africa needs blockchain technology, more that blockchain needs Africa! “-Chimezie Chuta, Founder/ Coordinator Blockchain Nigeria User Group.

Also confirmed are, Elizabeth Stark, CEO and Olaoluwa Osuntokun, CTO both Chief Executives at Lightning Labs, Christian Roesch, Head Africa Operations, at Kinesis Money, Ali Hussein Kassim, Co-Founder & CEO at Kipochi, Nairobi Kenya, Emomotimi Agama, Deputy Director and Head Registration, Exchanges, Market Infrastructures and Innovation Department at SEC Nigeria, Carmelle Cadet, founder & CEO, EMTECH, and several others as speakers and keynotes for the conference.

Paxful.com is the main event Sponsor, with premium support from Binance.com, Tezos Foundation, Kinesis.money, Conflux Network, and FTX.com.

This is the 9th edition of the national blockchain conference series that has been held across Lagos, Abuja, and Port Harcourt since 2017 by Blockchain Nigeria User Group!

It will be a two-day event content-packed event covering; Keynotes, Presentations, Panel discussion segments, Networking, and product Exhibitions.

The conference is free, but registration is required via https://www.airmeet.com/e/9c836320-e93b-11ea-8616-b3016fb86143

Conference Tracks include:

The Good, the Bad, and the Ugly sides of DeFi, Inside the Crypto-Traders Locker-room!, Shielding yourself from CryptoScams and fake DeFi products, The Rise Of CBDCs and its impact on the emerging decentralised future, etc.

Who Should Attend?

Everyone!

The event is expected to connect entrepreneurs, developers, liquidity providers, finance advisors, Bankers, different blockchain node operators, academics, investors, economists, regulators, and others who are looking to learn and network in the blockchain & decentralised finance industry and explore the current opportunities and challenges in the space.

More information about the event and the organisers can be seen on https://blockchainnigeria.group/.

About BNUG

Blockchain Nigeria Group

BLOCKCHAIN NIGERIA USER GROUP is a vibrant group of Blockchain and Cryptocurrency developers, enthusiasts, and investors helping to drive adoption and awareness of the Blockchain industry in Nigeria and across Africa. The objective of Blockchain Nigeria User Group (BNUG) is simply to create a pro-innovation environment for the industry, meeting the growing global demand for accessible, transparent, and democratic financial and technical systems. Blockchain Nigeria User Group is a sub-set of Organisation of Blockchain Technology Users (OBTU) a duly incorporated Trust with CAC, and an association upholding Self-Regulatory Organisation (SRO) status for the Blockchain Industry in Nigeria and across Africa.

Join the group on Facebook.

Join the group on Telegram.

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. 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. 

Continue Reading

Press Releases

Scalable Proof of Stake Coin PIVX Now Available for Staking on HolyTransaction Exchange

Published

on

HolyTransaction Exchange

Proof-of-Stake (PoS) concept is taking off in recent times as crypto projects are looking to cut down on the issues related to the traditional Proof-of-Work (PoW) approach used by Bitcoin and other major cryptocurrencies. Ever since Ethereum announced to move to the POS approach, there is increased interest around the sector as a valid alternative. This is fundamentally a paradigm shift happening in the industry and new players are eager to start with PoS from the start rather than starting with PoW and having to migrate to the former in the future.

Introducing PIVX on HolyTransaction Exchange

best PIVX wallets

Private Instant Verified Transaction (PIVX) is a cryptocurrency protocol with a native coin of the same name. The cryptocurrency can now be owned and staked on HolyTransaction, a popular cryptocurrency exchange with a strong resolve to provide the complete blockchain experience and capabilities to each user.

Normally, cryptocurrency exchanges have complete control over the funds of users and thus, they don’t have the flexibility to offer services like staking for more returns. Staking is basically a feature of the PoS mining approach in which users lock their funds for a limited time and then earn rewards on them like one does as interest on a bank account. This feature has been missing in the cryptocurrency industry for a while and a person’s total wealth doesn’t increase with time and rather remains stagnant.

PoW vs PoS

PoW uses a different approach in which energy-intensive computing machinery is used and participants are rewarded based on the sheer power of their dedicated resources. Many people believe this is unfair as new miners have to constantly dump new coins to remain afloat.

In PoS, on the other hand, a fixed amount is locked into place like a fixed deposit account and one earns mining dividends on it. This automatically creates a choked supply of the cryptocurrency for the investors and encourages users to lock more and more coins in place and earn staking rewards. This is one of the reasons why many smaller projects are looking to either migrate to PoS mining or start with it from the very beginning. It is less energy-intensive and arguably fairer than the PoW approach.

HolyTransaction’s Staking Services

HolyTransaction wallet is now offering various PoS coins on its official exchange platform. While coin exchangeability is often offered readily by exchanges, they don’t offer the full experience because of their limited functionalities.

With HolyTransaction, one can not only own these new up-and-coming cryptocurrencies they can also have complete access to them in addition to having access to staking features.

PIVX Features

PIVX, exclusively available on HolyTransaction has the following key features:

  1. Privacy Protocol to help make anonymous transactions.
  2. Fast network and transaction times.
  3. Low Fees
  4. Energy efficiency due to the use of the PoS system
  5. Community-based development and future roadmap-based approach.

The current market capitalisation of PIVX is around $30 million with a price of $0.5. The total number of coins in circulation is 56,781,166.

Visit the official HolyTransaction exchange to buy/trade/swap and stake cryptocurrencies.

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to any company, product or service mentioned in this article. 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. 

Continue Reading

Popular Posts