Ethiopian-based group Project Mano is lobbying the government to mine, hold and link Bitcoin to the Ethiopian birr or other legal tenders.
Africa is the second largest continent in the world in terms of both territory and population. There are 55 states located on the continent. Economies in Africa differs from country to country. In Africa, cryptocurrency tends to be sold with a large trade margin which can even reach 100% due to several reasons. Firstly, Bitcoin in Africa is very difficult to mine because of the climate and lack of infrastructure. Also, cryptocurrency is in big demand in Africa as national currencies are vulnerable to hyperinflation. Besides that, since there are only a small number of virtual currency retailers they are able to set high prices. The relative financial stability of digital money and the opportunities for profit make cryptocurrencies very popular in Africa.
Tanzania’s president wants the country’s central bank to begin exploring Bitcoin and digital assets.19875
With exchanges slow to fall under FIA oversight, Uganda’s AML watchdog wants the government to make a move on crypto regulations.8762
Three new BRI divisions will foster innovation and research in their respective regions.8801
The number of Cardano millionaires has gone up 1,2341.34% this year, according to Coin Metrics data.54122
After a successful run in Nigeria, Quidax announced global expansion plans and the launch of its native token, QDX.14933
Blockchain technology will be used to enhance the educational experience of five million students and 750,000 teachers across the east African nation.15862
Some companies are using blockchain technology to open up the logistics routes that COVID-19 has closed down.14453
Uganda’s government has reportedly allocated land for Akon’s crypto-city development project in the country.10519
Blockchain Africa highlights the remaining hurdles that stand in the way of widespread adoption of crypto and blockchain on the continent.23565
The governor of the Central Bank of Nigeria has seemingly softened his stance on crypto for individuals, if not banks.17705
The COVID-19 pandemic has highlighted the necessity for the digitalization and sustainable development of African economies.7005
Standard Bank Group has become the first African node operator on the Hedera network.12500
Akon’s Akoin cryptocurrency is set to become the exclusive cryptocurrency of the Mwale Medical and Technology City in Kenya.21818
Just hours after an anonymous source claimed India would issue a blanket ban on all cryptocurrencies, Jack Dorsey and Jay-Z announced a 500 Bitcoin development trust.23327