With international bank transfers costing the continent $4 billion a year, locals are rapidly adopting the
Blockchain, which first emerged as the technology powering
Bitcoin, is seen by financial institution as a powerful new tool to increase transparency and reduce the costs and complexity of a wide range of financial transactions..
In its brief history, the
has had mixed fortunes against major currencies..
cryptocurrency BitCoin was the first digital currency. The underlying technology that enables this currency is called blockchain.
Blockchain, which emerged as the system running
bitcoin, is a digital shared record of transactions that is maintained by a network of computers on the Internet, without the need for a centralised authority..
cryptocurrency may be in its infancy, but like the Internet, its adoption has been far reaching and its implications are enormous, says Naresh Pema, Enterprise Engineer Open Source..
Leslie Horne, partner at IBM Global Business Services South Africa, comments that the enthusiasm around blockchain could bode well for cryptocurrencies in the long run as it will create more comfort around the distributed nature of the
A contract created by Bitcoin Mercantile Exchange, a
derivatives trading platform, to bet on the SEC's decision showed a 50% probability of approval on Tuesday, said BitMEX chief executive Arthur Hayes, compared to 34% late last month..
Local companies seem to have a deep understanding of blockchain and
world in general and the knowledge thereof has definitely moved on past the negative historical connotations with Bitcoin and is now focussed on the potential of the technology to bring value into businesses..
An ICO is a popular way to raise money for a new
project by distributing a percentage of the initial coin supply among the early supporters and backers..
The Barclays Africa Accelerator programme is looking for start-ups with capability in machine learning, lending, digital banking solutions, trading, cyber security, data analytics, payments,
, insurance, wealth management and beyond..
The total value of all bitcoins in circulation is now above $14 billion, as the
jumped 5% to its highest levels in three years..
's value has been highly volatile – after rocketing above $1 100 in 2013, it had fallen to around $150 by early 2015. But it has since stabilised, staying above $500 for the past six months.
Blockchain first emerged as the software underpinning
Tackett added the breach did not "expose any weaknesses in the security of a blockchain", the technology that generates and processes Bitcoin, a Web-based "
" that can move across the globe anonymously without the need for a central authority..
"Building on the experience gained by WEF, the Singularity University, the Deloitte
cryptocurrency Community (DC3) and the MIT MediaLab Digital Currency Initiative, we set off on a journey to realise a series of artefacts that would ultimately become part of Deloitte Digital Bank," says Thys Bruwer, director, Deloitte Digital Africa. "We have developed unique artefacts that adhere to essential design principles such as currency-agnostic supports and near real- time processing of payment transactions.
Fearmongering by the authorities, however, is misleading and misplaced. Mostly, criminals deal in cash.
Via messages on their now-hijacked PC, users are guided through a step-by-step process and instructed to pay the ransom in the
cryptocurrency Bitcoin. As more time passes, the Petya Web site notes that the ransom price increases.
It's well known that bitcoin has died a number of times, most recently, it appears, in March this year, when a well-known software developer in the
cryptocurrency community said he was throwing in the towel..
, Sweatcoin, rewards users for physical movement. It is the second digital ‘fitness' currency to launch within a few months.