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AllenHark Group launches pre-ICO to raise $250,000 for its new cryptocurrency trading terminal

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Fintech firm AllenHark Group has launched its presale initial coin offering (ICO) targeting to raise $250,000 from a sale of 1m HRK tokens for $0.25 and a 50% bonus to build AllenHark Terminal, its cryptocurrency trader platform.

AllenHark Group says the AllenHark Terminal will be a subscription-based platform that will provide traders with real-time data, reports and news to help them increase their returns on their investments in the cyptocurrency trade.

“We are building AllenHark Terminal, the world first platform to provide real-time data, reports and news to give cryptocurrency traders tools of trade, help them get the right returns over their investments, forge policy and make the right decisions,” said Anthony Gitonga, AllenHark Group CEO.

“Our algorithms and human researchers and editors will curate and create real-time data, reports and news to keep investors make money out of their money,” he added.

The $250,000 pre-ICO started today and runs for two weeks and is expected to help AllenHark bring on the market its new suit of products which include AllenHark Terminal, an institutional software and hardware trading platform, AllenHark Professional, a subscription web-based trading platform and AllenHark Go, a cryptocurrency exchange and trading app.

Gitonga adds that the financial services platform will be one of its kind in Asia and Africa where trade in cryptocurrency markets and securities and use of internet and smartphone is growing tremendously.

The real-time data tools, portfolio monitors, news, charts and analytics will help them stand out of the crowd.

“We are not just a data vending and a real-time crytptocurrency news provider,” Gitonga said, “but the professional standard for cryptocurrency and digital assets trading, risk management and compliance.”

The $250,000 targeted in the pre-ICO will help the firm finalize building its platform, do marketing for its platform in the crypto-world and help launch in more countries.

“Our cutting edge technology for professionals to trade in the crypto-currency world will help them buy, sell and track crypto-currencies, digital assets, crowd-sales’, forex and derivatives at the click of a button,” said Gitonga. “With a global network of reporters and a network of crypto professionals, our multicurrency platform gives you everything you need to be a pro.’’

The firm will also use the funds to hire financial reporters and data analysts and story tellers to follow news, mine data and customize the stories according to individual trader or investor’s needs.

AllenHark Terminal will have both free and premium data tools for daily, weekly, monthly or yearly subscribers. It will also have a messenger platform connecting traders to other traders and investors in the crypto space to help each other build solid portfolios.

AllenHark has worked with fintech firms and investment groups in Latin America, Asia and Africa providing them with mobile money integration and softwares to serve their unbanked clients.

In May 2015, The AllenHark Group signed a $33m partnership deal with Germany’s Mambu as their innovation & integration partner for East Africa to help financial institutions move to cloud-based banking applications using its Allensuite Banking 3.0 Platform.

The Allensuite Core Banking System together with Mambu is pre-packaged with Mobile Money integration, SMS Banking, Automated Payments Disbursement and a GPS visualization engine for Data-driven customer acquisition.

Nigeria’s design company Minku raising $200,000 in bitcoins

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Nigeria’s design company Minku which has since 2013 accepted bitcoin alongside Stripe-supported card payments, and PayPal is raising a seed round in bitcoin.
The proceeds from the round will be used to develop a follow-up to Minku’s first men’s clothing collection, which was released in September.
According to Kunmi Otitoju, the founder and creative director of the company which started off as a leather goods maker in 2011, “Our objective is to fund the next stage of growth, while providing a fun and unconventional way to involve like-minded investors. I’m constantly seeking ways to validate bitcoin beyond a speculative instrument, and to reward those who take a chance on the company’s vision at this early stage in its funding life cycle.”

Minku will take part in Bitcoin Black Friday later this month, as it has in 2014 and 2015. It is a limited liability company registered since 2011 with the Nigerian Corporate Affairs Commission. As at November 11 the bitcoin price in Nigeria was high. 1 bitcoin = $6500 = N2.3m.

 The $200,000 in a coin-for-equity sale will also include investor perks like priority new collection viewing and guest-authorship in the company’s culture magazine, Yonderland.
The firm is also researching men’s clothing trends through the middle ages, with an eye to designing, creating (through local production in Nigeria), and distributing a collection centered on music and synthetic sounds for the DJ’s work wardrobe.

Luno adds support of Ethereum to its platform

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 Luno has added support for Ethereum, the second-largest digital currency after Bitcoin just weeks after its recent $9m Series B announcement and expansion into Europe.

This move will allow customers from over 40 countries to easily buy and sell digital currencies like Bitcoin (BTC) and Ethereum (ETH) using the Luno wallet.

“It is core to our beliefs that decentralised digital currency will form the basis of the future of finance,” said Marcus Swanepoel, co-founder and CEO at Luno. “Our mission at Luno is to bring digital currencies to everyone, everywhere. It is our view that we will end up with a multi-digital currency world and Ethereum is aligned with this view”.


Caption: The price of ETH over the past 12 months (source: CoinMarketCap)

The price of BTC has risen by over 940% and ETH has risen by over 2,600% in the past 12 months (source).

Those interested in learning more about digital currencies like Bitcoin or Ethereum can visit www.luno.com.

Blockchain startup LaLa World aims for financial services for all

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LaLa World, a blockchain financial system has launched to counter the inherent shortcomings and apprehensions of the traditional financial system to bring the underbanked and underserved population of the world into the financial mainstream.

According to the firm, it aims to venture where “no banker has gone before” with its plans to touch the lives of the vast population of the world whose lives haven’t been affected by the global financial system.

LaLa World has LaLa Wallet, a peer-to-peer ecosystem that aims to revolutionize the way in which people and micro and small businesses make transactions, payments and borrow money. It also aims to change how people buy insurance, remit money, perform daily transactions through cards (both virtual and physical) and buy banking products.

Serving the underserved; banking the underbanked

There are still more than 2 billion unbanked people in the world. That is more than 25% of the global population. More than 50% adults in the poorest households are unbanked. How could one expect the global economy to fire on all cylinders when one in every four people in the world isn’t part of its financial system? Also, the traditional system’s over-dependence on physical processes and a cumbersome identification process makes it difficult for many people to have even a bank account, leave alone more complex financial transactions.

The emergence and popularity of connected smartphones has offered a flexible, seamless and easy device to the financial systems to exploit and bring more people under the global umbrella. LaLa World appreciates the importance of such a connected technological device to join the millions of underbanked people to a unique financial ecosystem that is powered by blockchain technology.

Anybody can own the LaLa Wallet on their smartphone and be connected with a world of opportunities and possibilities. The Wallet is secured by a global ID that includes state-of-the-art biometrics and physical identifications all digitized into a unique ID – LaLa ID. The Wallet allows peer-to-peer micro lending, affordable domestic and international remittances and daily financial transactions, all of which can be done using crypto or fiat assets. A digital card (debit and credit) can be used for any and all transactions that can be done with a traditional card but with the added advantage of very low or zero charges and with the opportunity to earn more crypto assets with every transaction performed. Yes, using LaLa Wallet is rewarding as much as it is easy.

Towards absolute financial inclusion

The World Bank believes that financial inclusion is a key enabler to reduce poverty and bring about prosperity. It has also charted out the Universal Financial Access Plan where it aims to bring about 100% financial inclusion by the year 2020. LaLa World has a unique business proposition, one that is driven not by profits but by the passion to reach every underbanked and underserved person in the world. It aims to be a true vehicle of financial inclusion. LaLa World is all geared up to bring this dream into reality.

Sun Exchange Raises $1.6 Million Seed Investment to Catalyze Global Shift to Solar Power

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Sun Exchange has raised $1.6 million in seed financing from Network Society Ventures, Kalon Venture Partners and three of the world’s leading technology accelerators, BoostVC, Techstars and Powerhouse.

The firm says it will use the funds to boost its capacity to meet the demand for commercial-scale solar power projects, located in the sunniest regions of the planet. Founded in 2014, Sun Exchange has now expanded globally with United States headquarters and a regional operating office in Dubai.

According to Abraham Cambridge Founder and CEO, “We are the first marketplace of our kind, combining sharing economy principles with blockchain technology to democratize solar power.”

Sun Exchange allows individual investors to buy solar cells in solar projects in emerging markets in power-poor regions in move to make solar panel ownership accessible to retail and institutional investors worldwide, while giving businesses and communities in emerging markets access to fully-funded solar power plants to reduce running costs and drive sustainable development.

Using its blockchain-based platform, Sun Exchange is giving retail customers around the world the chance to lease solar cells bought on their platform for as low as $10 to achieve a zero-carbon future. The firm also breaks down the solar panel ownership to a single cell thereby reducing the cost by three.

“We’re utilizing empty roof space in some of the sunniest cities on the planet, such as Dubai and Johannesburg. To super-charge the process we’ve combined our solar leases with another breakthrough technology – blockchain, namely Bitcoin. Putting the two together empowers anyone to go solar and be part of the global solar energy transformation with just a few taps on a screen,” he said.

Sun Exchange says blockchain and Bitcoin will increase transparency and reduce the costs of the cross-border transactions, both problems that inhibit the majority of commercial solar projects from accessing traditional funding options.

Tanjalo.com, a Lagos-based bitcoin trading platform launches to power borderless payments

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Nigeria’s Tanjalo, is a new bitcoin exchange promising to allow anyone in Nigeria to buy or sell bitcoin in Nigeria.

The trading platform also promises to power cross-border money transfer across West Africa and increase access to cryptocurrencies in the region according to its founder Tim Akinbo.

Like its predecessor BitKoin Africa, the trading platform will see users buy bitcoin and other digital currencies online in exchange with Naira. The Lagos-based firm wants to simplify money transfer between countries in Africa and from the US to Africa through use of his bitcoin trading platform.

Bitkoin Africa is a person-to-Person bitcoin trading platform allowing users to sell and buy bitcoin from other users and is also based in Lagos, Nigeria. Bitkoin Africa founder Timi Ajiboye, said Bitkoin Africa aims to be the continent’s most secure payments and settlement platform with a secure Bitcoin Wallet. Through its escrow services Bitkoin Africa aims to make sure there is no fraud during transactions.

Wala raises undisclosed funding from Bitcoin Foundation’s Llew Claasen & Vinny Lingham ahead of October ICO

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Built on the Ethereum blockchain, Wala has raised an undisclosed equity investment from Newtown Partners, a fund run by Bitcoin Foundation Executive Director Llew Claasen and serial entrepreneur Vinny Lingham.

Wala will use the new equity investment to deliver its promise of zero-fee financial services for the 3.5bn consumers who are currently excluded from the formal financial system. The firm provides access to transactional banking, remittances, loans and insurance for the unbanked and underbanked.

Wala also works with specialist providers including banks, to offer a full suite of financial services. It has grown its financial services community to 1 million consumers in over 100 countries. The consumers have been instrumental in testing the Wala Financial platform.

According to Wala founder and CEO Tricia Martinez: “Through the use of blockchain technology and tokenization, we have developed a platform that makes it possible to serve the financially excluded economically at scale. Our community’s guidance has ensured that the Wala Financial Platform has been built by the people for the people.”

The roll out of the Wala platform is initially planned for emerging markets in Africa, following the footprint of local banking services partners, before expanding globally. Newtown Partners was instrumental in helping its portfolio company Augmentors complete $1m token sale in February 2017 while Lingham’s Silicon Valley-based startup Civic completed a $33m token sale for a digital identity management platform in July.

“Wala’s blockchain-enabled platform will enable greater access to zero fee financial services to billions of consumers in emerging markets and enable everyone to become economically active, no matter where in the world they are. These are the kinds of big problems being addressed by  bold innovations that we like to back” explained Llew Claasen, managing partner of Newtown Partners.

As part of that journey, Wala will be the launch partner for a new financial services utility token, Dala, which will be sold and issued in a crowdfunding token sale this October. Dala will support the operationalization and further development of scalable, blockchain-enabled financial platforms for developing markets around a common unit of account and microeconomic incentive structure to create strong network effects.

The Dala token sale will look to crowdfund US$30M over a 4 week period and issue participants with their share of 300 million Dala utility tokens. The Dala token sale will also use the Civic app to provide identity verification services to backers.

Bitkoin Africa is a bitcoin exchange based in Nigeria to help you trade in bitcoin

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Bitkoin Africa is Person-to-Person bitcoin trading platform allowing users to sell and buy bitcoin from other users.

Founded by Timi Ajiboye, the Lagos based platform aims to cater to Nigerians in Nigeria who are interested in trading bitcoin.

“With Bitcoin Africa , you can now buy and sell as much Bitcoin as you want, at whatever price you want, securely and conveniently. You can buy with your Debit cards (Visa or MasterCard) and when you sell, you get paid directly into your bank account,” Ajiboye posted on Twitter.

Bitkoin Africa aims to be different by allowing users to buy, sell, store or transfer Bitcoin – as conveniently and quickly as possible. Timi says users are assured of instant settlements on all trades, without the need to communicate with corresponding buyers or sellers. This makes us the only Bitcoin exchange platform to bring instant payments and settlements on all Bitcoin trades to Africa.

The platform provides secure Bitcoin Wallets, offers escrow services for traders allows various payment methods using Paystack. Users buy or sell bitcoin by creating or responding to Trade Postings or ads such as ads seen in classified platforms with users able to create Trade Postings indicating how much they are willing to buy or sell among others.

Bitkoin Africa, through its escrow services ensures that users don’t need to interact with each other during transactions to avoid fraud. The platform also hosts all bitcoins traded on the platform in the in-house bitcoin wallet.

“We act as the middleman in all transactions, thereby protecting the parties involved in a trade from fraud,” says Timi. “Each Bitkoin Africa account comes with a bitcoin wallet that enables users store, receive and send bitcoin. Bitkoin Africa transactions are carried out online and are facilitated by users’ Nigerian bank accounts or Naira debit cards.”

This insurance policy covers systems outage in the Internet of Things era

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With the advent of Internet of Things, data is one of the most important assets in the world yet its not covered by standard property insurance policies.

Therefore any interruption to an organisation’s systems means an interruption to firms to conduct their core businesses. Data protection should therefore be at the center of every organisation to avoid a hack attack or computer virus or in case a malicious employee brings down these systems.

But where can one find cover for business interruption during such attacks? In 2016 alone, Kenya lost about Sh18 billion ($175 million) to cybercrime with over 48.4 per cent of all government agencies reporting data loss due to a virus attack according to an ICT security survey conducted by Kenya National Bureau of Statistics & Communications Authority of Kenya (CA)

The report adds that 5.1% of businesses and 7.1% of State institutions are hacked annually, and that while most businesses were eager to download antivirus software, only 15 percent had systems to detect intruders.

Innovative insurance products are therefore needed to provide cover against attacks, eliminate exposure to Cyber risk and even protect third party data or data users.

Cyber Enterprise Solutions, a product from Aon Kenya, is that cover of the future. Unlike traditional policies, the policy is designed to cover property damage arising out of a network security breach; data exposure, business interruption and systems failure compensation. The policy also covers cyber terrorism and any other liabilities caused by an attack.

AON says the cyber risk solution is a response to the growing cyber criminality threatening both corporates and SMEs targeted by hackers with ransomware. Aon Cyber Enterprise Solution provides insurance cover for loss of profits associated with systems outage that might be caused by a “non-physical” threat like a computer virus.

Swiss telecom Cajutel launches an ICO to provide 100% solar powered high-speed Internet in Guinea-Bissau

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Swiss telcom Cajutel is on the path to becoming one of the main providers of solar powered high-speed internet in West Africa if its ICO is anything to go by.

To raise the funding for the solar powered high-speed internet, Cajutel Sarl, a Swiss-owned telecom has issued an ICO offer to provide connectivity to a majority of the 1.7 million population who presently don’t have access to the internet. The telco says lack of connectivity has severely impacted the region’s GDP, per capita, literacy and human development index.

Cajutel is therefore selling its Cajutel (CAJ) tokens governed by ERC20-compatible smart contract on Ethereum blockchain. CAJ tokens can be acquired directly by sending ETH to the smart contract address listed on https://cajutel.io and the CAJ tokens will automatically appear in your wallet (make sure you use a wallet which is capable of holding tokens).

As a part of its crowdsale, Cajutel has authorized the creation of an additional 780,000 shares, of which 720,000 will be offered for sale to the ICO participants and the rest 60,000 will be allocated for bounties and to cover advertisement costs. The telecom operator has set the maximum cap for CAJ tokens at 1,780,000 where existing shareholders will retain 1,000,000 tokens, and the remaining will be used in token sales, bounty and advertising payouts. The maximum cap will remain fixed until shareholders agree to issue more shares. Each CAJ token will represent a share in the platform.

The ICO will be held in five distinct phases. The first two phases will offer 10,000 tokens each for sale and the price of each token during the first and second phase is set at 0.05 ETH and 0.075 ETH respectively.

The third, fourth and fifth phases will involve the sale of 100,000, 200,000 and 400,000 tokens at a unit price of 0.10 ETH, 0.15 ETH, and 0.20 ETH respectively. The CAJ Ethereum based tokens will act as share certificates and carry the same rights as any other stocks including dividends. The value of the token is thus backed by the company’s asset and earnings.

The firm hasn’t stated details about the project and TechMoran is not sure if the project will really take place but Guinea-Bissau stands to benefit if Cajutel builds the infrastructure from the ground up to bring reliable high-speed broadband internet at affordable prices. If the ICO money is used to do what it’s intended to do, the entire Cajutel infrastructure will be solar-powered, making it more sustainable and economical over the long run.

The deal will bring 1 gigabit capacity into the country from neighboring countries, build and install all equipment and towers and have partnerships with small shops and kiosks already in place.

 

Naspers’-backed Bitcoin platform Luno raises $9m in Series B, expands to 35 new countries

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Bitcoin platform Luno has raised a $9m Series B funding round, led by London-based Balderton Capital and new investors AlphaCode.  Existing investors Digital Currency Group also participated in the round.

The raise follows Luno’s USD4m Series A round, which was led by emerging market tech giant Naspers. With new money, the firm has expanded into 35 new markets across Europe, making it the world’s most popular Bitcoin platforms.

“We’re excited to partner with Balderton as we accelerate our business across Europe and the rest of the world,” said Marcus Swanepoel, Luno co-founder and CEO. “In Europe we’ve seen an unprecedented demand, not just for digital currency, but also for our high-quality, secure and very user friendly products, in particular the Luno mobile apps.”

With a team of over 70 and offices in London, Singapore and Cape Town, Luno services will now be available in 40 countries around the world, making it easy for people to buy, sell and learn about digital currencies.

“Enabling more people in Europe to have access to these products and services is a critical part of our mission to bring digital currencies to everyone, everywhere – and in a way that makes everyone’s journey into the world of digital currency safe, super easy, and highly enjoyable,” added Swanepoel.

Apart from global expansion, the funding will be used for product refinement and development, and to bring to market a number of exciting new features. Luno will be hiring across all three their main hubs in London, Singapore and Cape Town.

Tim Bunting, partner at Balderton Capital will be joining the Luno board as part of this funding round.

You Can Now Use Bitcoin To Make Payments At South Africa’s Pick n Pay

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Bitcoin is gradually finding its way into stores in Africa. This is a further signal that Bitcoin is the currency of the future because the more stores accept it as a mode of payment, the more Africans will be interested in investing in the cryptocurrency that is worth more than $4,000.

One of the businesses embracing Bitcoin is South Africa’s retail giant, Pick n Pay as it has announced that shoppers will for a “limited time” be able to pay for their groceries using bitcoin at a Pick n Pay retail store in Cape Town.

In a statement, the Cape Town-based specialist software payments development house Electrum, said customers at Pick n Pay’s campus store are now able to use the bitcoin cryptocurrency to purchase groceries and services.

Electrum MD Dave Glass says, “We’ve worked closely with PnP for several years as a key technology provider. Our mission is to support innovative enterprises like Pick n Pay, and together we use the advanced Electrum software-as-a-service technology to move quickly on new opportunities, whilst at the same time delivering the best possible shopping experience“.

Jason Peisl, IS Executive at Pick n Pay, explains, “At Pick n Pay one of our key values is to embrace change and encourage innovation and leadership. To deliver on that promise we are constantly working with our technology partners to find ways in which we can deliver valuable, innovative services to our customers. Cryptocurrency and Bitcoin are still relatively new payment concepts, yet we have been able to effectively demonstrate how we are able to accept such alternative payments.“

Bitcoin Crashes As China Halts Cryptocurrency Offerings

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The Chinese government has banned Initial Coin Offerings (ICO), a new fundraising phenomenon that has taken the Internet by storm. In a recent ruling, the People’s Bank of China ruled that these unregulated sales violated Chinese law and must stop immediately.

There have been dozens of ICOs this year alone, with many raising tens of millions of dollars.

The ruling has likely put downward pressure on the value of the leading cryptocurrencies, bitcoins, and Ethereum’s ether. As a result, Bitcoin hit a low of $4,037 falling by more than $300 – as it continued to take in the Chinese clampdown on cryptocurrencies. The latest drop indicates a 20 percent fall following the coin’s $5,000 high over the weekend.

Users who participate in ICOs are typically required to acquire Bitcoin or Ethereum to exchange for new cryptocurrencies, and so the ICO boom has helped to push up the value of both Bitcoins and ether.

The cryptocurrency has since recovered gaining about 4.5 percent over that period.

 

BitPesa Raises $4M Funding From Greycroft, Plug and Play | Reaches $10 Million in Total Funding

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Pan-African blockchain payments firm BitPesa has raised $4m in a follow-up to its Series A funding round led by Greycroft, a majority of existing shareholders and another new investor, Plug and Play joined the round.

In February this year, the firm closed a $2.5 million Series A round led by Draper VC, Greycroft Partners among others. In 2015, BitPesa closed a follow-on round of $1.1M led by Pantera Capital Management LP,  Crypto Currency Partners LP, among others. By end February it had raised a total of nearly $6 million.

Scott Robinson, Vice President at Plug and Play said, “BitPesa promises to revolutionize the exchange and payment markets in Africa, disrupting monopoly incumbents and opening the fastest growing economies in the world to foreign companies. We’re very excited for the team’s vision and current execution which bolsters payment avenues throughout the region.”

With the follow-up raise, BitPesa has raised $10 million to date, and will use the new funds to continue its expansion into Europe, the Middle East and Africa.

Launched in Kenya in 2013, BitPesa has offices in Lagos, London, Luxembourg and Dakar and works with dozens of bank networks and mobile money operators across Nigeria, Kenya, Uganda, Tanzania, Senegal, and the DRC. Alan Patricof, founder and Managing Director of Greycroft said his fund invested in BitPesa because bitcoin and cryptocurrency will play an important role in the payments and money transfer industries and even more so in the developing world for which BitPesa is ideally positioned.

With a new office in Dakar, the Luxembourg-based firm will now have a stronger focus on French speaking Europe and francophone Africa  to lower the cost and increase the speed for payment processing to and from emerging markets works for businesses using bitcoin blockchain technology.

BitPesa was the first company using bitcoin to receive an authorized payments license in the UK in 2015 from the Financial Conduct Authority (FCA). The firm has sign up a number of partners to reduce the pain of using existing cross-border payment services in these markets.

“We keep raising because we have grown above and beyond projections,” said Elizabeth Rossiello, founder and CEO. “We have expanded across Africa and Europe, added a stellar roster of Fortune 100 companies as clients and are receiving growing support from regulators.”

Image credits:TechCrunch

Belfrics Global unveils its Initial Coin Offering (ICO) for early cryptocurrency investors in Africa

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Barely a month after it launched its operations in Kenya, Belfrics Global is taking another bold step in the right direction. The company will be launching the Belrium ICO (Initial Coin Offering) which will allow anyone to become an early blockchain investor.

An Initial Coin Offering is similar to an IPO where a company moves to raise funds by selling a stake in the technology to early crypto-currency investors. The ICO will see investors get coins or tokens, as opposed to a stock for IPOs. With Bitcoin soaring to new heights in the last couple of months, it is just a matter of time before cryptocurrencies, and the technologies that enable these digital currencies to flourish, become the norm when it comes to money transactions online.

Belfrics launched its Bitcoin Exchange in Nairobi, Kenya, becoming one of the largest cryptocurrency exchanges in the region. The launch signalled the rising adoption and confidence in cryptocurrencies in the region.

The Belrium ICO is set to kick off on 8th September 2017 and will be available till 8th October 2017. When you purchase the Belrium Token, you automatically get voting and access rights on the blockchain.

The first price of the token will be 0.0005 BTC. There is no minimum or maximum investment goals. Only Etherium and Bitcoin (BTC) are accepted as the purchase currencies.

Belrium is the first Know Your Customer (KYC)-compliant blockchain, developed by Belfrics, that seeks to provide transparency in the cyrptocurrency ecosystem. This provides relief from risk of theft and hacking while offering instant transaction processing. Belrium blockchain security features are also well documented.

As of May 2017, investments in ICOs is now above $380M. As a result, we have seen Bitcoin entire market capitalization in cryptocurrencies drop from 80 percent to less than 50 percent in one year. This is despite its steady and meteoric rise in price.

To get started or learn more about the Belrium ICO, click on the link: Belrium ICO

Trading In Bitcoin To Kickoff Soon In Egypt

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The founders of Bitcoin Egypt said that the first bitcoin exchange will go live later this month in Egypt thus connecting the Middle East’s most populous country with a cryptocurrency that has surged in value in recent months.

Egypt, most of whose 93 million people have no bank accounts but where electronic payments have grown in recent years, lacks regulations for digital currency. This means local retailers cannot accept it as payment but users on an exchange may be left to trade freely, potentially cashing in on its ascent.

“We’re still waiting on the Egyptian government to set some kind of regulations…Without any laws, bitcoin is not legal money in Egypt,” said Bitcoin Egypt founder Rami Khalil.

He said the exchange has picked up about 300 pre-registrations from users ahead of its launch.

Khalil and co-founder Omar Abdelrasoul see their platform connecting a community of several thousand bitcoin enthusiasts who will for the first time be able to trade in Egyptian pounds, which have roughly halved in value since November after flotation under an International Monetary Fund loan programme.

“Cryptoassets are happening whether (the Egyptian government) joins in or not. And by not joining they’re missing out on a very big market. Currently, bitcoin is a $70 billion market,” said Khalil.

Cryptocurrencies allow anonymous peer-to-peer transactions between individual users, without the need for banks or central banks.

Those same dynamics could propel bitcoin in Egypt, where a shortage of hard currency after the 2011 uprising sharply restricted bank transfers. Though liquidity at banks has improved and capital controls have been lifted in recent months, businesses still resort to a black market for dollars to obtain currency not available in the formal banking system.

“We’re trying to get people used to the idea of bitcoin, to ready the market so that in a couple of years we will reach a greater number of users. But for now we are trying to let people know what cryptocurrency is,” said Abdelrasoul. (Reporting by Eric Knecht; editing by Mark Heinrich).”

 

This Kenyan developer is mining Zcash from his living room & it’s fun

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“You can mine tonnes of other digital currencies,” he posted on his wall. “Which are actually much more profitable than Bitcoin. In my case I’ve been mining Ethereum & ZCash. I built this one mid July and it’s been running a little over 28 days now. It only requires an internet connection and power,”

The developer chose ZCash over bitcoin because bitcoin requries special miners called ASIC which are expensive and very rare. Though his mine has several months to go, he says cryptomining is profitable and anyone can make good money out of it. Though volatile, cryptocurrencies are mostly unaffected by fluctuations in the economy especially during an election, civil unrest or inflation as they are digital and decentralised.

Mutai, an Andela developer based in Kenya says he using a 3.2 Ghz Core i5 7500 PC with an 8 GB RAM, 120 GB SSD running Windows 10 and 8 Nvidia Asus 1080 Tis graphics cards with 11GB RAM consuming a total of 2300W.

With the 1080 Tis, Mutai says he’s currently doing 5600 Sols/s, one of the highest solutions mined per second. For those who want to try it at home, Mutai is mining on windows 10, using EBFW miner which is awesomely optimized for Zcash. Conceived as “Zerocash” in 2014 by researchers from MIT, Johns Hopkins University,  Technion – Israel Institute of Technology and Tel Aviv University, the privacy-focused digital currency allows users to make anonymous transactions without trace.

There are new developments coming to Though Zcash such as the disclosure feature for parties involved in the transaction and a Cross-Chain Atomic Transactions (XCAT) to enable enable inter-Blockchain transactions involving leading digital currencies like Bitcoin and Ethereum.

Blockstream launches blockstream satellite to broadcast real-time Bitcoin blockchain data from space

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Announcing Blockstream Satellite, a new service that broadcasts real-time Bitcoin blockchain data from satellites in space to almost everyone on the planet (PRNewsfoto/Blockstream)

 Blockstream, a blockchain and financial cryptography firm has today launched Blockstream Satellite, a new service that broadcasts real-time Bitcoin blockchain data from a group of communication satellites in space to almost everyone on the planet to increase further participation in Bitcoin.

The service is available across two thirds of the Earth’s landmass, and additional coverage areas will soon come online to reach almost every person on the planet by the end of the year.

 According to Dr. Adam Back, co-founder and CEO at Blockstream, “Today’s launch of Blockstream Satellite gives even more people on the planet the choice to participate in Bitcoin. With more users accessing the Bitcoin blockchain with the free broadcast from Blockstream Satellite, we expect the global reach to drive more adoption and use cases for Bitcoin, while strengthening the overall robustness of the network.”

Blockstream Satellite is claiming to be the world’s first public satellite service that allows anyone to operate and maintain Bitcoin nodes, without the constraints of traditional network connectivity. It sends blocks in real-time, as well as recirculates older blocks, providing free access to the Bitcoin blockchain for both long-time and new users of the cryptocurrency. It also promises an additional layer of reliability for blockchain data in the event of a network partition.

The Blockstream Satellite network currently consists of three geosynchronous satellites that cover Africa, Europe, South America, and North America. By the end of 2017, the firm promises that additional satellites will be added to the Blockstream Satellite network enabling worldwide coverage and reaching nearly every person on the planet. Blockstream Satellite will help extend Bitcoin everywhere in the world, especially in Africa where there is only bitcoin node.

Blockstream Satellite makes extensive use of open source software. GNU Radio, an open source software development toolkit, enables the cross platform implementation of software-defined radios (SDR). The use of SDRs eliminates the need for specialized hardware, which greatly reduces cost and makes the technology widely available. To further ensure performance and reliability, Blockstream Satellite utilizes the Fast Internet Bitcoin Relay Engine (FIBRE), an open source protocol based on several years of experience operating and studying the Bitcoin Relay Network.

Ethereum driven Blockchain network XinFin introduces a trade & finance platform in Botswana, Zambia & Kenya

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Ethereum driven Blockchain network XinFin has introduced TradeFinex, its trade and finance platform in Botswana, Zambia and Kenya after completing its Africa awareness program across the three nations last month. This comes just a few weeks after Belfrics Global launched a bitcoin exchange in Kenya with plans to expand across Africa.

TradeFinex is built over blockchain, offers pre ICO tokens and is aimed at real world integration of smart-contracts between buyers, sellers and financiers while offering instant cross border payments and settlements using its native token XDC (Xchange Infinite Development Contract).

According to Afrikanus Kofi Akosah Adusei, Africa Community Manager, “Infrastructure deficit in Africa is over 90 Billion dollars annually and it has a lot to do with inefficiencies in trade and finance practices. Also the fact that global trade and financing is still a loosely connected process tied to several risks. XinFin’s XDC token is a community driven digital asset designed to hedge risks in global trade and finance. Our upcoming TradeFinex platform will see a great participation from businesses in Africa.”

The awareness drive included engaging with business community as well as Government officials. The Botswana program was held from 28th June till 5th July in Botswana while the Zambia program was held from 18th to 23rd July and Kenya program was held from 31st July till 1st August. The awareness drive included introduction to XinFin’s upcoming tradefinex platform that brings buyers, sellers and financiers on a single platform powered by the XinFin XDC tokens.

The firm says it has interest from hospitals looking to acquire machinery, low income counties who want to build their tourism spots, counties seeking efficient farming equipment, new techniques and cheaper ways to build rural roads and transport, and farming institutions that want training and e-learning programs or alternative ways to hedge weather risks.

“Our team of over 30 financiers worldwide are working on mapping smart contracts to real world contracts and laying the groundwork for all stakeholders to get the projects underway” said Alex Mathbeck, head of marketing for Xinfin.org. “Our goal is to bridge the global $5 trillion infrastructure financing gap that has created a huge disparity between the rich and the poor. For example, traditional fiat currency financing mechanisms allow projects with high rated buyers and suppliers to leverage their ratings multiple times, however it totally ignores viable projects with low or non-existent buyer and seller ratings.”

Apart from institutions and government agencies, the marketplace will be open to individuals who want to take the leadership in identifying and initiating projects, crowdsourcing for support and completing the trade and finance over the xinfin.org XDC network. XinFin has initiated a series of IoT projects across Asia in India and Singapore. Projects in India include a IoT enabled solar power plant that uses smart contracts on the XinFin XDC platform to trade generated energy back to the grid. The Solar project will be showcased to countries across the world for a one stop smart-metering, transacting and financing mechanism.

Remitano Moves Into Ethereum To Prevent Fraudulent Trading Activities

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Remitano, a Vietnamese platform with operations in Africa has announced it now supports ethereum, an emergent decentralized cryptocurrency in a move to prevent fraudulent trading activities on its platform.

“Unfortunately, cryptocurrency traders need to be watchful of fake exchanges, phishing schemes, and fraudulent ‘wallets’ that bring malware into their devices, among other scams” said Dung Huynh. “At Remitano, we’re committed to inhibiting fraudsters from depleting cryptocurrency trading, which is arguably one of the most revolutionary digital advancements of our time. Now with our ethereum feature, we’re able to provide a safe-space for ethereum traders, too.”

ethereum is similar to bitcoin some ways but it allows users to execute code on the blockchain technology and keep track of computer programs – to say, specify the conditions in which someone will get paid. ethereum’s price and market cap have skyrocketed in 2017, with a 3000 percent increase just this year.

Remitano users across the globe can securely exchange ethereum without worrying about fraudulent trading activities. Remitano targets bitcoin exchangers, investors, and those seeking remittance services, especially in Asian countries such as Vietnam, Malaysia, Cambodia and China with  lower fees – 0.5 percent compared to 1 percent elsewhere – instant virtual support, as well as a private platform to explore the world of blockchain.

“We want to see bitcoin and ethereum succeed. Remitano is on a mission to bring bitcoin – and now ethereum – to everyone, and to provide a space space for people to partake in this incredible market,” said Huynh, “Because after all, we believe it truly has the potential to change our digital world.”

Remitano was founded by Dung Huynh, Phuoc Nguyen, Phuong Nguyen and Tam Vo and is now available across the English speaking world, as well as South Africa and Mexico. Recently, the firm expanded outside of Asia, with Nigeria, Kenya, and Tanzania. Remitano started in Ho Chi Minh, Vietnam and is incorporated in Seychelles but has operations in Vietnam, Malaysia, the United States, Australia, United Kingdom, China, India, and Ghana.