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South Africa’s First Ever Blockchain-based Property Register Pilot

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Property Register Pilot

The Centre for Affordable Housing Finance in Africa (CAHF) (HousingFinanceAfrica.org), research consultancy 71point4 and Seso Global have partnered to develop South Africa’s first blockchain-based property register. The pilot study area consists of almost 1 000 properties located in four sites in Makhaza, Khayelitsha. All the properties are Government-subsidised properties that have not yet been registered on Deeds Registry.

CAHFAccording to Daniel Bloch, the CEO of Seso Global, a blockchain property registry company, this will be the first working example of a blockchain-based property registry in South Africa. Aside from creating an immutable record of who owns which house, the Seso platform facilitates and records transactions such as sales and transfers out of deceased estates and integrates with third parties who facilitate transactions, including mortgage lenders. “For the time being, property owners will record these transactions at the Transaction Support Centre, a walk-in housing advice office created by CAHF and 71point4 located in the area. But over time, we will record transactions through the Seso app” says Bloch.

The benefit of the blockchain solution is that it allows the data to be stored in a decentralised, secure database that can be updated without any loss of historic data. This means there is a secure, back-to-back record of all transactions that is completely tamper-poof. Eventually, the vision would be to integrate this record into the Deeds Registry when other impediments to transfer have been removed.

South Africa has a serious titling problem. According to Kecia Rust, the CEO of CAHF, the government has built over three million RDP houses since democracy. But CAHF’s analysis of deeds office data indicates that only 1.9 million of these properties have been registered. The National Department of Human Settlements, Water and Sanitation (NDHSWS) estimates that the title deed backlog for RDP properties built prior to 2014 currently stands at 511 752. These properties were given to beneficiaries, but no title deeds were registered and handed over. At the same time, there is a backlog of 351 470 title deeds on newer properties.

Registering these properties so long after they were built and handed over to subsidy beneficiaries is an administratively complex task. In some cases, original subsidy beneficiaries are no longer living in the properties. Some beneficiaries might have passed away, some might have tenants in their properties while others have sold their houses informally.

“To create a register of property owners we first had to go door to door to find out who lives in each property and to establish how they came to be there,” says Melzer, founder and lead consultant at 71point4. “We hired a team of 17 enumerators and trained them to collect information and capture supporting documents. Thankfully we can leverage smartphone to collect the data, but it still requires a significant effort. It took us two months to cover these areas.”

But the effort is well worth it. Properties in the area sell for over R200 000 informally – and would sell for more if they were listed on a trusted registry and were ‘bankable’. This would enable buyers to obtain mortgage finance and create affordability. Without access to mortgages, buyers have to pay cash for a house or use an expensive unsecured loan. There are also significant benefits to the City of Cape Town of being able to access an accurate and up-to-date record of property ownership. Without it, the City cannot collect revenue from households in the area who are not indigent nor can City departments facilitate building plan approvals.

Next steps

cape townIn many cases in the pilot areas, the original beneficiary is still living in the property. “We hope that these properties can be registered in the deeds registry within a few months, and we are working closely with the City of Cape Town to facilitate that,” says Melzer. “Where the beneficiary no longer lives in the property, we are in the process of tracing the beneficiary to confirm information we have gathered on who owns the property. We will also be working closely with the City on a resolution process where ownership is disputed.”

It will take some time before all the required information has been collected and validated. It will also take time for validated properties to be registered on the deeds registry.  In the meantime, we will enable property owners and occupants to keep those records up to date.

“We will also be using Seso’s platform to manage other client service requests that come to the Transaction Support Centre from all over Cape Town,” says Rust. “These include helping clients to regularise informal sales and wind up deceased estates. Going forward, as the country moves towards an electronic deeds registry, we hope the lessons we have learned will provide valuable evidence to inform the development of accessible, secure, affordable and efficient mechanisms to facilitate property market transactions. This is important across the market, but particularly in entry-level segments of the market where existing mechanisms are simply too costly”.

CAHF, Seso Global and 71point4 have a working agreement to extend this pilot into other areas and use cases. There are hundreds of thousands of RDP properties around the country where no primary transfer has taken place. In addition, in many areas where title deeds were issued, property owners have transacted informally, which means there is no longer an accurate record of ownership at the deeds registry. Blockchain-based solutions can help there too. Blockchain can also enable households who live in informal settlements and rural areas to record and maintain land records and secure their rights. “We are very pleased with the pilot results. We think the solution we have developed is scalable and replicable,” says Bloch. That does not mean it is easy but “blockchain technology together with the potential value we can unlock makes it worthwhile,” says Melzer.

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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P2P Trading Platform CryptoLocally Adds Its Own Native Token: GIV

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CryptoLocally

With COVID-19 and people looking for economic opportunities from home, cryptocurrency exchange platforms have been looking for ways to expand. Over the past few weeks, the P2P trading platform CryptoLocally has added numerous tokens, such as USDJ, JUST, USDT-TRC20, and now CryptoLocally’s most recent addition is GIV, a token native to CryptoLocally. This new coin will allow users to take advantage of a number of special features that makes GIV stand out from the native coins of other platforms.

What is CryptoLocally?

CryptoLocallyCryptoLocally is a Peer-to-Peer (P2P) crypto trading platform that supports many next-generation blockchains. Its team is committed to creating the easiest, fastest, and most convenient way of trading cryptocurrencies. They have achieved this by providing a service that allows users to directly interact with one another without third-party interventions and user funds are protected by an escrow until transactions are complete.

What is GIV?

GIV is the token native to CryptoLocally’s platform and it can be used to purchase or access a number of special features.  There are various means of obtaining GIV, which range from just signing up to being an active trader on our platform. The more GIV users obtain, the more they will be able to take advantage of the special features that come with owning GIV.

How Can Users Gain GIV?

Immediately after signing up on CryptoLocally, all users will receive 10 GIV. Additionally, new users to the platform will receive a one time “Spin-the-wheel” gift where they can spin a wheel containing various GIV prizes right after signing up. Users can also earn GIV through CryptoLocally’s referral program which allows both parties to immediately earn free GIV and on top of that, earn 0.1 GIV for every 10 USD of a completed trade made by the referrals forever. While these methods allow users to easily gain their first tokens, the best way to earn GIV is by being an active trader.

Being active on the platform allows users to comfortably earn GIV based on the trade amount, with a ratio of up to 1 GIV per 10 USD traded! Since GIV is stored directly on CryptoLocally’s platform, there is no need to worry about getting an additional wallet. While being an active trader on CryptoLocally is the fastest way to gain GIV, traders can also buy GIV from Binance DEX.

Why Use GIV?

GIV has several benefits that are unique compared to other native tokens. Here are some of the benefits and why you should consider using GIV:

1. Get paid to trade

By trading on CryptoLocally, users will earn GIV based on the trade amount, with a ratio of up to 1 GIV per 10 USD traded. Thus, the more users trade the more GIV they will earn.

2. Refer friends, earn GIV

Earn 10 GIV per referred user that completes a trade and then earn additional GIV based on the trade amount your referrals make!

3. Coupons that facilitate trading

50% off Coupons: For 800 GIV, users can purchase this coupon which will reduce trading fees by 50% for 1 trade.

Boosts: For 600 GIV, users can purchase a “boost” which, when applied to an offer, will place it at the top of the list.

4. Access to the Tier system

Bronze: Just by signing up all users are placed into the Bronze Tier. Being in this tier allows them to earn GIV from signing up, referring friends, and actively trading on the platform. In addition, you can spin a GIV wheel and receive a GIV gift. Additionally, after each completed trade, users will be awarded GIV based on the trade amount, with a ratio of 0.8 GIV per 10 USD traded.

Silver: In order to gain access to the benefits of the Silver Tier, users must maintain a GIV balance of at least 250 thousand GIV. At this level, they will get 25% off on all their trade fees + all of the perks from Bronze tier. Similarly to the bronze tier, you will be awarded GIV based on the trade amount, with a ratio of 0.88 GIV per 10 USD traded.

Gold: This is the highest tier and is attainable by maintaining a GIV balance of at least 1 million.  While this may seem difficult to reach, users in the Gold Tier will get 50% off on all of their trade fees. At the highest tier, you will experience the highest level of GIV rewards, allowing you to earn GIV based on the trade amount, with a ratio of 1 GIV per 10 USD traded.

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. 

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How to Monetize Your Publications on Social Networks Using SaTT Solution

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SaTT Solution

Through advertising, brands can easily reach out to audiences that they wouldn’t otherwise meet through organic means.

SaTT is an online advertising platform that upgrades the advertising transaction process through the use of blockchain while removing the high costs associated with launching a campaign, reducing payment delays for publishers that rely on ad revenue, as well as injecting some much-needed transparency into the industry with performance-based payments.

SaTT TokenUsing SaTT, it is possible for anybody to play the role of an online influencer and be compensated for the posts that they make on social networks, including Twitter, Facebook, Instagram & Youtube. As a project that is founded on the Ethereum blockchain network, all transaction on the platform is fully automated and transparent.

Advertising, as we know it, is a very important aspect for every business as it is a way for them to put themselves out there to the world in order to gain more recognition and eventually, patronisation.

The world of advertising has undergone different changes at different times. In the earlier days, adverting was done through traditional means such as billboards, handbills, and posters. Although these methods of advertising are still in use in today’s world, it is however no longer a secret that in this digital world, even advertising is going digital.

The most popular digital means of advertising is currently through social media. Social media platforms such as Facebook, Twitter, Instagram, and Youtube among many others are mostly used for advertising purposes because it is believed that the majority of the world’s population spend their time on these social networking platforms.

One way or the other, everyone has placed an advertisement on social media – consciously or unconsciously either by sharing their personal businesses or innocently sharing a post from a business page that they find interesting. The only downside to this, however, is that promoting content on your personal social network page is supposed to earn you some money because a client’s recommendation or fan exposure on social network is an invaluable resource for a company and they pay close attention to them.

How Does SaTT work?

Advertisers can list their advertising campaigns on the SaTT platform with the assurance of getting an effective result as the system is implementing an incentive-based approach which incentivises publishers that takes part in this advertising campaign which in return is beneficial to the advertisers as the advertisements will reach the correct audience that will engage with the post through this method.

A Product Already in Use

The platform is already fully functional as there are already listed advertising campaigns in which publishers can take part in and get rewarded in SaTT tokens. Although the platform is up and running with already working products, fundraising is, however, still ongoing for the sales of the SaTT token – the native cryptocurrency token of the platform.

Companies are already using the platform to generate turnover as the performance-based approach taken by the SaTT project has proved to be a very effective method so far. Publishers also have been making money from participating in advertising campaigns that are already listed on the platform.

Skilled and Experienced Team

Recently, the company announced the addition of the famous investor from Asia, Richard Wang, to their team, as an advisor. Richard Wang is a partner with Draper Dragon, a company that is known for investing in early-stage high growth China-centric technology companies and a subsidiary of Draper Venture Network.

With more than two decades of experience in business development, technical marketing, and sales management in high technology coupled with his outstanding background in finance, blockchain, and technological disruption, Richard Wang’s strategic presence on the board is expected to accelerate the company’s success in the Asian market.

Conclusion

The problem of not being able to monetise publications made on social media is one that has lingered for a very long time. With the SaTT solution, there will no longer be excuses for using social networks but not getting anything out of it as the platform was created with the sole purpose of giving publishers the kind of reward that they truly deserve.

Making use of the blockchain will further help in boosting confidence in publishers knowing that they definitely are going to be paid, given that their submissions have passed all verification processes as the entire system was built on a total automation system.

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. 

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KoinKoin Launches Hybrid Digital Assets Exchange Services in Nigeria

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KoinKoin

The Nigerian blockchain and cryptocurrency community have been provided with another novel opportunity to derive value from the digital assets market. This opportunity has come in the form of “KoinKoin”, a hybrid cryptocurrency exchange.

KoinKoin allows users to participate in both peer to peer cryptocurrency trading services, as well as direct fiat to cryptocurrency exchange.

KoinKoin is headquartered in London, but on Thursday, June 04, 2020, the company announced that it has commenced full operations in Nigeria. This comes after an almost one year long beta testing experience and UAT. According to the announcement, crypto users in Nigeria can now enjoy full functionality on the platform in ways that suit their desires.

“KoinKoin’s digital asset exchange services are immediately available and users can readily make deposits and withdrawals with their Naira based credit and debit cards in purchase of BitCoin, Ethereum and LiteCoin.   KoinKoin’s digital asset exchange offers peer to peer exchange services as well as a direct fiat to cryptocurrency exchange”.

A Decentralised Social Commerce Marketplace

KoinKoinApart from offering exchange services for cryptocurrency users, KoinKoin has also delivered the first marketplace application underpinned by  Ethereum. This is a Social Commerce platform that is available to users on both Android and iOS. As a wholesaler or retailer, the KoinKoin Social Commerce platform gives you the opportunity to sell your products directly to your personal or social media network. 

Based on the Ethereum network, transactions on the KoinKoin Social Commerce platform are decentralized. It allows users across the various regions of Africa to trade among themselves without the limitations of foreign exchange. At the same time, such transactions help users to protect their privacy and promote the confidentiality of doing business.

Founder and CEO of KoinKoin, Ola Atose expresses his excitement at the launch of this product. He says: “I am truly excited about this launch and I deeply appreciate the KoinKoin team for all their hard work over the past months.”  

Atose and team are already looking ahead to delivering digital exchange services across Ghana, South Africa, Kenya, Tanzania and Uganda later on this year.

To learn more about KoinKoin, click here!

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. 

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