The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa CCIE, has called for a concerted effort among industry players, government officials and experts to explore the transformative potential of Blockchain technology in asset management and economic development of the country. The DG made this appeal at the Tokenised Economic Conference and…
Africa is now the world’s second fastest-growing region after Asia, with annual GDP growth rates over 5% over the last decade. Despite this growth, this good economic growth in the continent had not translated into shared prosperity and better livelihoods for the majority. Growth has to be inclusive to be socially and politically sustainable. One…
The advent of Bitcoin and other cryptocurrencies has ushered in a transformative era in the global financial landscape. Initially conceived as a decentralized digital currency, Bitcoin has grown to influence a wide array of sectors, including finance, technology, and regulation. This article explores how Bitcoin is reshaping global financial regulation, the challenges it presents, and…
Together, the blockchain startup Vault Hill, based in the United Arab Emirates, and the African hubs network AfriLabs have announced a cooperation that “sets the stage for a new era of technological empowerment, driving innovation and digital transformation across Africa and the Middle East.” AfriLabs is a network organization that brings together investors, startups, technology…
By the end of the month, South Africa will license roughly sixty cryptocurrency platforms, making it one of the first countries on the continent to mandate operating permissions for digital asset exchanges. More than 300 crypto-asset providers requested authorization, according to the Financial Sector Conduct Authority, which offered exchanges until November 30 to apply for…
The Central Bank of Nigeria (CBN), which published legislation to regulate the activities of digital asset providers many months ago, has instructed its telecom carriers to restrict access to websites related to cryptocurrencies, including well-known sites like Binance, OctaFX, and Coinbase. This action is a reaction to the CBN’s December 2023 decision to revoke its…
Bingtellar, a Nigerian blockchain startup, says it is developing modern cross-border payments infrastructure and solutions for Africa to streamline global transactions for consumers and enterprises. Bingtellar, founded in 2022 by Joshua Tebepina, CEO, and Arepade Peremi, CTO, facilitates fast and affordable cross-border transactions into or across Africa for diaspora, freelancers, remote teams, foreign contractors, and…
After a Two-Year Investigation, Sophos X-Ops Discovers Unprecedented Sophistication in Scams That Trick Victims into Fake Investments Sophos, a global leader in innovating and delivering cybersecurity as a service, today revealed how sha zhu pan scammers—those conducting elaborate, romance-based cryptocurrency fraud—are leveraging a business model similar to cybercrime “as-a-service” by selling sha zhu pan kits on…
On Thursday, January 11, the price of Bitcoin continued to trade at $46,331, showing a slight benefit. The US SEC has officially approved 11 Bitcoin ETF applications, including those from Blackrock, Fidelity, and Invesco, in a historic move. Even while Bitcoin did not respond to the news right away, it has nevertheless created a sense…
The global growth and adoption of digital property and Blockchain technology has inevitably extended its reach to Nigeria, where CoinEx, a renowned cryptocurrency exchange, has been actively contributing to the development of the Nigerian Blockchain economy since the appointment of its first effective Nigerian partner in 2021. Established in December 2017, CoinEx is a global…
The global growth and adoption of digital property and Blockchain technology has inevitably extended its reach to Nigeria, where CoinEx, a renowned cryptocurrency exchange, has been actively contributing to the development of the Nigerian Blockchain economy since the appointment of its first effective Nigerian partner in 2021. Getting familiar with the Nigerian Blockchain Landscape Nigeria’s tech-savvy, heavy content-consuming…
Hyperspace Technologies Limited has secured a patent for Blockchain technology-driven Multi-Factor Authentication (MFA). Developed within the Hyperspace Technologies’ research and development (R&D) division, cipherKEY tap2sign™ MFA is a next-generation security system designed to leverage the decentralized nature of blockchain, the robustness of public/ private key cryptography, and the convenience of NFC (Near Field Communication) technology…
According to a recent survey, blockchain funding increased by a startling 1,668% in 2022 compared to the previous year, reaching a total of USD 91 million in nations including Kenya, South Africa, and Nigeria. According to the “State of Web3.0 in Africa” report by EMURGO Africa, in strategic partnership with PwC, South Africa is revolutionizing…
According to IMF Managing Director Kristalina Georgieva, the IMF is developing a framework for central bank digital currencies (CDBCs) to promote trade between nations. “CBDCs should not be a collection of disparate national proposals… Interoperability is necessary for more effective and equitable transactions, according to Georgieva, who spoke at a conference of African central banks…
The National Blockchain Policy was approved by the Federal Government of Nigeria on Wednesday in Abuja. This was revealed following this week’s Federal Executive Council meeting, which was presided over by President Major General Muhammadu Buhari (retd.) at the State House in Abuja. The Minister of Communications and Digital Economy is Prof. Isa Pantami. The…
NFT EPubs, a cutting-edge epub blockchain platform, aims to give authors new opportunities to sell royalties and generate passive income. The platform, which makes use of blockchain technology, ensures an additional source of revenue, transparency, security, and fairness in all transactions by giving readers a concrete financial incentive to support their preferred authors and publishers….
A platform to increase the usability of NFTs has been launched by the Nigerian fintech business SPLIQ DEFI in an effort to better incorporate the technology into daily life. SPLIQ DEFI, which was introduced in April 2022, analyzes the volatility of digital assets like NFTs using real-time market data to establish a lending facility’s eligibility…
Nigeria’s adoption of cryptocurrency is nothing new. Nigeria has actually been a handy location for the cryptocurrency market despite the Central Bank of Nigeria’s ban on cryptocurrencies. Despite this, Nigerians keep embracing cryptocurrencies widely. But before I delve into how Nigerian businesses can use crypto as a payment method, I will explore the use of…
According to The East African, African investors may have experienced the lowest percentage of cryptocurrency investment fraud, which totaled $5.9 billion last year globally. Yet, many investors on the continent fell victim to investment and giveaway scams, indicating the danger of a strong desire to join in the mania. According to a survey by blockchain…
The National Bank of Rwanda (NBR) has ordered all banks in the country to suspend “all crypto-related activity until a regulatory framework is in place.” In a letter to managing directors and CEOs of financial institutions, the NBR’s acting governor, Soraya Hakuziyaremye, defended the organization’s activities. Customers are left without the “guarantees and safeguards associated…
Digital file-sharing service WeTransfer is partnering with blockchain platform Minima to launch non-fungible tokens (NFT) on the network, allowing users to generate NFTs directly from their phones. A layer 1 blockchain and peer-to-peer network designed specifically for mobile use is called Minima. Its website states that individuals will be able to “operate a full constructing…
Nigerian blockchain payments firm Bingtellar has announced the availability of its quick crypto-to-fiat conversion service, allowing individuals and organizations to buy, sell, and receive payments in local money with ease. Bingtellar, founded in 2021, enables real-time conversion of cryptocurrency to fiat and offers users rapid liquidity in their home currency. With a typical transaction time…
A suspected NFT initiative appears to be paving the way for e-commerce behemoth Amazon to join the Web3 community. Although the corporation hasn’t released all the information, insider sources claim that it will begin this spring. In order to assist its plans to develop a business focused on digital assets, the company has been looking…
A $2 million seed funding round headed by Stillmark and Jack Dorsey co-founded payments company Block has been secured by Gridless, a bitcoin mining business that helps develop new energy sources in remote East African areas, the company said on Tuesday. The financing would help the business spread its bitcoin mining operations throughout African markets….
According to Mrs. Zainab Ahmed, Minister of Finance, Budget, and National Planning of Nigeria, the 2022 Finance Bill contains a provision to tax cryptocurrencies and other digital assets. In an unusual digital event on Thursday, Zainab Ahmed updated the National Economic Council (NEC) on the fundamental elements of the 2022 Finance Bill, according to a…
Making US$20k Monthly Recurring Revenue (MRR) with 1 full-time employee and two part-time co-founders: CEO working from overseas! Running a small software development company, we had our ‘breakthrough’ moment in 2019 when high-profile global bank awarded us a US$150k project. I needed to grow the team in order to meet the tight delivery timelines. With…
As part of an exclusive multi-year agreement, Cristiano Ronaldo’s first NFT collection will be made available on Friday, November 18, by Binance, the world’s foremost blockchain ecosystem and cryptocurrency infrastructure provider. A global marketing effort involving Ronaldo will support the launch and introduce his followers to Web3 through the realm of NFTs. He Yi, co-founder…
The KuCoin Wallet, designed to be a secure and easy to use crypto wallet that supports multi-chain aggregation powered by the KuCoin ecosystem, has officially launched a Chrome Extension with comprehensively improved security technology and architecture, ensuring the security of user assets across multiple dimensions and safeguarding the Web3 experience. As the crypto industry continues to…
The charity arm of cryptocurrency and blockchain infrastructure provider Binance, Binance Charity, has teamed with Utiva, an organization that provides technical education for young people in Africa. Through the new cooperation, 50,000 young people will receive technology education, and 1,000 Africans will receive scholarships for a one-year intensive skill training program. This educational program will…
Contents Crypto Adoption Globally and in Africa Crypto Adoption in Africa: The Opportunities Which Countries in Africa Are Using Cryptocurrency the Most? What Africans Do With Their Crypto: Use Cases Top Cryptocurrencies Traded by African Users Crypto Adoption Challenges in Africa Conclusion: How to Expand Crypto Adoption in African Regions Crypto Adoption Globally and in…