Somalia has approximately 155 million transactions, accounting for $2.7 billion monthly.
The Bank of Uganda showed interest in crypto businesses participation in its...
The relationship between crypto and inflation is undeniable. Inflation can initially cause a decline in the value of cryptocurrencies as investors anticipate higher interest rates and a subsequent drop in demand for riskier assets. However, over time, the ensuing banking sector challenges and other negative consequences of high inflation could prompt investors to seek safer havens like crypto.
The price increase is due to the selling exhaustion of sellers FTX’s collapse, an improving macroeconomic outlook for risk assets, and the impending arrival...
An efficient crypto mining industry can generate more employment opportunities in Africa as demand for miners, blockchain experts, and technology specialists increases. This incentivizes countries to improve their energy and technological infrastructure to accommodate crypto operations. Such improvements can significantly benefit other industries and economic well-being.
African countries must seize the opportunity to become a crypto mining hub. This can help develop the digital economy, the financial standing of the citizens, and the energy production infrastructure. Accordingly, African governments can invest in cryptocurrencies and get alternative funding to develop renewable and alternative energy sources.
Defi applications represented the most significant segments in the continent's Digital Investment, with a total transaction value of $994.40 million.
Kenya, Nigeria, South...
The African Metaverse has the potential to foster cross-cultural understanding and collaboration. By bringing people from different parts of Africa together in a shared virtual space, the Metaverse can help to break down barriers and build bridges between different communities and cultures.
Essentially, the African Metaverse is a new frontier for digital innovation, potentially transforming many aspects of society. The African Metaverse can shape the continent’s future by democratizing access to digital content and services, creating new economic opportunities, and fostering cross-cultural understanding.
Africa is a strong contender for developing technologies such as blockchain and cryptocurrency owing to the continent's growing mobile tech adoption rates. Considering the turbulent global financial markets, expensive remittance costs, and restricted banking access, blockchain technology in Africa offers alternatives to tackle their day-to-day issues.
The relationship between cryptocurrency and the law becomes even more pronounced because no intermediary or authority has exclusive jurisdiction to settle cryptocurrency-related disputes. For instance, in a conventional financial transaction, if a party claims theft of their account credentials and fraudulent transfer of money from their account, their financial institution (such as a bank) can intervene and help resolve the matter.
However, suppose a parallel situation occurs on a blockchain platform. In that case, no mechanism is in place for settling such a dispute because cryptocurrency is decentralized and has no financial institutions that act as intermediaries. Accordingly, victims of cryptocurrency theft will likely have no legal avenue to compensate for their losses.
On February 6, 2022, hackers walked away with over US$4 million from Africa’s star fintech, Flutterwave.
Nigerians have been experiencing a shortage of...
Despite Metamask not supporting the largest cryptocurrency, the Web 3 crypto wallet has attracted over 30 million active monthly users
By entering your...
Insurance is a contract represented by a policy in which the policyholder receives financial protection or reimbursement against loss from an insurance company.
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