Browsing: cryptocurrencies

With Blockchain one can ascertain proof-of-work and proof-of-authorship if they upload their work. www.theexchange.africa

One arrow in a pirating scheme quiver is the false claim to work or authorship or ownership.  With Blockchain one can ascertain proof-of-work and proof-of-authorship if they upload their work, comply with Blockchain agreements and get their digital certificate which includes a private key, kind of a personal signature.

This can prove ownership of the works as it is time-stamped and known to be in existence.   One can also trace the transactions and copyright use of their works and be able to calculate the intellectual property value in the forms of royalties and license fees and any other form of exploitation either economically or morally. 

For a long time, creatives have decried the often rigid and unclear remuneration process of their royalties, the blame always shuttling between collective management organizations, CMOs and the broadcasters.  …

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Cryptocurrencies and the technology that enables them, blockchain, are here and they are here to stay.

They are not a fad. If there are circles, and there are many circles for that matter who still view them as a passing fad, then they are a fad that has been around for just over 14 years.

The first of the legions of cryptocurrencies, Bitcoin was invented in 2008 by a little known individual Satoshi Nakamoto. Protagonists of cryptocurrencies have touted the 14-year-old invention as humanity’s giant leap forward in financial innovation. Cryptocurrency’s longevity so far and its now widespread innovation, however, should not be taken as a ringing endorsement.

A loose definition of cryptocurrency is that it is a virtual currency designed to revolutionize peer to peer transactions without the need for an intermediary like a bank or a credit card agency, the exchange of personal information and or transaction…

The race to adopt cryptocurrencies is hitting new ceilings in Africa as their popularity increases, despite hostile policies from several governments in the continent.

One of the main reasons investors across the globe are seeking to diversify traditional assets in Africa into cryptos is to counter rising fiat inflation, with a majority of crypto investors and traders believing that crypto coins and tokens are safer and more secure than traditional investments such as gold, oil, stocks, liquid cash and real estate.

The roles that these cryptos and alternative coins play in society are not well defined, but they have a vivid description as each day passes as to which purposes they serve.…

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  • Cryptocurrency mining appears to be going in a different direction from the larger part of the world to fight carbon emissions
  • The United States- where 35.4 per cent of bitcoin mining takes place-releases over 40 billion tonnes of carbon emissions annually, the equivalent of 9 million cars
  • The University of Cambridge states that bitcoin generates about 132.48 terawatt-hours every year
  • However, the cryptocurrency industry is looking to reduce 100 per cent of its carbon emissions by the end of this decade

There has been a debate about bitcoin mining facilities moving to Africa. The continent has the biggest potential to generate renewable energy sources, and the facilities will reduce saturation in the West and Europe.

Why renewable sources of energy? Bitcoin mining counts at the top of the world’s leading carbon-emitting industries!

Cryptocurrency mining appears to be going in a different direction from the larger part of the world to

  • Devising a crypto trading strategy that resonates with a trader’s financial goals and personality style is among the largest demotivation into exploring the diverse blockchain industry and the cryptocurrency markets
  • A trading strategy is an extensive plan that guides crypto traders on their trading activities
  • The strategy helps to mitigate financial risks by eliminating rush and unnecessary decisions. It, however, does not qualify as a mandatory tool to be a successful crypto investor

There are countless ways to profit from trading cryptocurrencies, and to do that, one needs trading strategies to help monitor and optimize a cryptocurrency portfolio.

Devising a crypto trading strategy that resonates with a trader’s financial goals and personality style is among the largest demotivation into exploring the diverse blockchain industry and the cryptocurrency markets.

Below is a comprehensive analysis of crypto trading strategies that can help beginners and even advanced traders in the market engage in

  • The South African learning institution report has said it will issue blockchain-based certificates to its graduates in 2022
  • The report further explains that each qualification document given by the University of Johannesburg will have a QR code to verify its authenticity
  • The blockchain-based system is unique because it allows third parties, such as prospective employers, to verify a graduate’s certificate

Africa faces a crisis of insufficiently qualified university graduates, predominantly because of three significant factors. There is a lack of enough universities to administer high school graduates in the continent, a higher preference for overseas education and fake certificates that trash the ability to discern genuine qualifications in the market.

Blockchain technology in University degrees

However, the University of Johannesburg, A university-based in South Africa, has induced blockchain technology in its system to help counter the last setback.

The University has said it will issue blockchain-based certificates to students graduating

  • Africans, starting from governments, startups, non-governmental organizations, and generally all the people in the continent, are losing much more for failing to adapt to the advancements in the digital world
  • Artists ranging from painters, drawers, actors, musicians, sculptors and writers can now sell their pieces of art across the world as Non-Fungible Tokens (NFTs)
  • Every day, new games are launching on the metaverse and you can buy an altcoin in a game and earn real money from it!
  • bitcoin and other cryptocurrencies are a store of value and could be a haven asset in times of turmoil, playing the same role as gold

Several African governments have stood firm against cryptocurrencies even as blockchain technology takes over the currency markets. It appears that the dice on the shift to cryptos is already cast. The possibilities enabled by these cryptocurrencies make the switch imminent.

The biggest hindrances to the success of…

In October 2021 Nigeria became the first country in Africa and of among few in the world to issue a digital currency that was dubbed ‘eNaira’.

Financial experts say the digital currency issued by central banks cut transaction costs and increase financial inclusion.

Maurice Muhiza Rwamigabo, Head of Exploration & Coordinator at the Accelerator Lab (an innovation and technology lab) of the United Nations Development Programme (UNDP) in Rwanda, said in an opinion article titled ‘Should Rwanda adopt a national digital currency?’ that if Rwanda wants to restructure its financial system and position itself as an important player in the future global economy, it should systematically assess and take the steps needed to develop its own Central Bank Digital CBDC. 

“A CBDC would offer Rwandans a safe, free, and easy alternative to cash. It would expand financial inclusion by enabling more of the unbanked population to participate in the formal …

Since Tanzania is still conducting research on cryptocurrencies, rules to govern the sector will be issued after research on crypto is complete. Currently, Tanzania has no regulations for cryptocurrencies and those trading in the sector have been urged to be cautious.
However, there is no timeframe for when regulations will be issued.
In June, President Suluhu asked the country’s financial leaders to prepare for crypto and blockchain as the country drops its conservatism and flies its doors open to the new era of digital currency.…

The Central Bank of Nigeria has banned all cryptocurrency transactions as of February 5th 2021 citing terrorism concerns. The central bank is of the view that cryptocurrency transactions are been used to fund terror groups.

As a result, it has ordered all banks as well as non-bank financial institutions and all other financial institutions that deal in cryptocurrencies or facilitate payment for cryptocurrencies to stop with immediate effect.

The development comes after the Central Bank issued a warning back in January cautioning against the use of cryptocurrency.

Cryptocurrencies are volatile and risky since unlike in regular banking transactions, these are transactions that are irreversible. Further still, transactions are anonymous so you do not know who you are dealing with and also, there are no regulators for cryptocurrency dealings, it is all just you and a host of other people that you do not know trading online, to call it …