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Blockchain Mergers and Acquisitions Surge 800% Since 2016

Blockchain company mergers and acquisitions (M&A) have surged 800% since 2016 according to data collected by JMP Securities. In 2014 there were 11 M&A deals, 23 in 2015, 16 in 2016, 47 in 2017, and 115 in 2018 so far with 145 projected by the end of the year. Despite the crypto market downturn, this data suggests that the blockchain and crypto space may be growing faster than ever.

Specific data for the money transacted for each deal is not provided by JMP Securities, but they do say that the M&A deals are generally global in nature and worth less than USD 100 million each. It may be surprising that blockchain and crypto M&A deals have surged when the crypto market has declined so rapidly, but the reality is this is the best time to buy blockchain and crypto firms since they have become undervalued. The Head of Blockchain and Digital Asset Investment Banking at JMP Securities, Satya Bajpai, says “You’re seeing a mispricing of assets. Even for great businesses, the value of the token remains correlated to bitcoin, which can create an ideal opportunity for strategic acquirers”.

The M&A surge is being fueled by companies looking to acquire blockchain technology rapidly without having to build things from scratch since that takes too long to be competitive. Bajpai says “It’s expensive, but you get the technology and product immediately. This industry is like a treadmill — the only way to keep up on a treadmill is to keep running by investing in new technology. As soon as a company becomes interesting, they get bought — the deal size may still remain small, but the number of deals will increase because that is the most viable and fastest way to grow in this environment”.

Not only do investors get the blockchain technology they need to be competitive through an M&A deal with an established blockchain company, but they also get a userbase and community, which is key to a tech company’s valuation and would usually take a long time to build if doing it from scratch.

Further, blockchain engineers and crypto experts in general are hard to find, especially since the first blockchain and crypto degree program in the United States was just announced by New York University in September 2018, meaning no one has graduated from college with such a degree. M&A deals not only give investors the blockchain technology they desire, but these deals also come with a team of blockchain and crypto experts, which is a rare and precious asset. For example, when Coinbase acquired, the Founder of ended up becoming Coinbase’s Chief Technical Officer.

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Russian Crypto Bill Has Deficiencies Despite Recent Edits

Russian deputies are working on framing a bill on cryptocurrency regulation that will be presented to the state parliament Duma later on. But, prior to its debate in the Duma, several changes have been made to the draft including removing the definition of cryptocurrency mining thus making taxation ambiguous for miners. There are other issues as well that continue to dog the overall acceptance of the bill.

The chairman of the relevant financial markets committee of the Duma, Anatoly Aksakov explained why the deputies removed the definition of mining in the latest edit:

“Earlier we had some thoughts on bitcoins, on their integration into our economic system. But as we decided we don’t need them, these ambiguous bitcoins, therefore we don’t need mining as well.”

But, on the other hand, miners are not being given notices of eviction so it is possible that the government is knowingly keeping things as vague as possible so that more investment can be made in the sector.

It is also not immediately clear whether ICOs and their tokens are being defined at all in the latest draft. They were included in the initial presentation to the committee but there is no guarantee of it surviving the recent edits.

The initial bill was introduced as early as January this year by the Ministry of Finance and the first draft was passed by the Duma in May. But, now crucial regulatory details are being removed from the bill as in the case of cryptocurrency mining so there is no telling what the final draft will look like. The Duma, once approves the bill will once again send it back to the deputies for the third round of edits.

Much of the new edits could be coming from the crypto lobby group Russian Union of Industrialists and Entrepreneurs (RSPP). According to the Vice President of RSPP Elina Sidorenko, the new bill will divide these assets into three groups and will help address shortfalls in the initial draft that was proposed without their input.

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Gibraltar Launches Advisory Group for Blockchain Educational Courses

Gibraltar is working to increase blockchain awareness in the crypto-friendly zone as the government has announced the setting up of a new advisory group that will focus on the development of blockchain courses. The news reported by the Gibraltar Chronicle on October 19 shows that the government is working to create blockchain resources for the fledgling industry.

The group is named the New Technologies in Education (NTiE) group and is reportedly a joint initiative between the University of Gibraltar and the local government along with inputs from a number of tech firms in the British territory. The NTiE will work to address issues in both the government and private sector and train personnel for the future.

The courses will be launched later this year and will be designed with significant input from the industry innovators that are setting up shop around Gibraltar and getting approval from the financial regulator. The Gibraltar university will use the opportunity to develop more human resource in the field including in DLT, coding and smart contracts. Professionals who pass this course will be eligible for a Certificate of Competence as well.

According to the Minister of Education John Cortes:

“The launch of the NTiE advisory group continues to build momentum for Gibraltar as a hub for new technologies, following the announcement in January 2018 that Gibraltar would be the first jurisdiction globally to introduce legislation around Distributed Ledger Technology.”

Gibraltar’s attempt to boost its blockchain resource is badly needed as the self-governing country is seeing more and more crypto startups being set up. The government needs to catch up if it needs to be as competitive as other blockchain hubs in Europe including Switzerland, Malta, and Germany.

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Listen to the 21 October 2018 Daily Podcast below.

On this edition of the Daily Podcast, we discuss how a geomagnetic reversal would impact Bitcoin. Learn about the Binance Bump. Hear about how the first Bitcoin faucet dispensed 5 Bitcoins per day.
Follow the Bitcoin News Daily Podcast on AnchoriTunesSpotifyGoogle PodcastsStitcherRadio PublicPocket CastsOvercastCastbox, and Breaker. We broadcast a new episode every day, covering the most important topics in the crypto, Bitcoin, and blockchain world!

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PR: Blockchain Video Sharing Platform Set to Launch New VIU Token Smart Contact Address: November 1st

Bitcoin Press Release: Viuly announce its new smart contract address for the VIU token, to give the market a clear understanding of token statistics.

October 13th, 2018, Estonia – Blockchain video sharing platform Viuly has announced that it will be changing the smart contract address for the VIU token, to give the community a more realistic picture of the number of tokens in circulation and eliminate any remaining dead tokens from circulation.

Blockchain video sharing platform Viuly is well known for passing on an ICO to offer their community one of the largest ever recorded Ethereum blockchain airdrops, back in December 2017. The distribution took place in December 2017, during which 500,000,000 VIU tokens were airdropped to over 900,000 Ethereum wallets.

The Airdrop was part of Viuly’s marketing campaign, which attracted a large number of new users, who successfully on-boarded on Viuly, whilst raising the VIU token to first position among other ETH20 tokens in terms of operations count.

Despite the success of the airdrop, a large part of distributed tokens was never used by inactive wallet owners, (due to lost private keys and other factors) and maybe never be retrieved. As a result, VIU token statistics, are inconsistent at best. This both gives out the wrong impression to prospective new interests, traders, exchanges and the crypto community.

New Viuly Smart Contract Address Coming November 1st, 2018

Due to these various issues, Viuly has decided to change the smart contract address for the VIU token. The change will reveal realistic statistics information of VIU token and most importantly, eliminates dead tokens from circulation.

All VIU token holders can exchange their tokens to a new token via a page called SWAP on

The new token will keep the same name and same functions as the original VIU token. Existing VIU token will be canceled on the 1st November 2018.

Viuly is confident that this change will be very beneficial for the market as a whole, and urge all token holders to exchange their tokens before the deadline. Further instructions can be found on the official site

New smart contract

Instructions on how to change your tokens that are not held in platform wallet:

  1. Enable Metamask. Must be linked to your external wallet.
  2. Go to
  3. Input a total amount of VIU tokens you want to change to a new smart contract VIU token and click on ‘Make Allowance’ button
  4. Input an Ethereum wallet address where you want to receive your new VIU tokens (our system will automatically paste the address where you send the old tokens from but if you want to receive new tokens to your new wallet, it can be done by doing this step). Then click ‘Swap’ button.
  5. Done! You are now a proud owner of the new version of a VIU token!

NOTE: Tokens held on will be automatically changed to the new version on 1st of November 2018, and tokens that are kept outside of must be changed as per instruction above.

Learn more about Viuly’s Platform –
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Media Contact

Contact Name: Ruslan Popa
Contact Email:
Location: Estonia

Viuly is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high-risk tolerance. Only participate in a token event with what you can afford to lose.

This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. The Viuly token sale is closed to US participants and participants of all countries in which ICOs are illegal.

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GEN Token, Powering DAOstack, Listed On Liquid Exchange On 9th October

GEN Token, Powering DAOstack, Listed On Liquid Exchange On 9th October

The decentralized economy and blockchain revolution have brought in a new era of economics. Starting with the advent of Bitcoin, them moving to the creation of Ethereum, it is now decentralized autonomous organizations (DAOs) are the next big thing in the industry.

A sound concept with the potential to bring about a decentralized revolution, DAOs have been long sought after, but not much has been offered in terms of real world applications. This is largely due to the lack of a proper framework.

DAOstack: A Collective Intelligence

DAOstack is a blockchain startup that brings order in the chaotic world of DAO technology. The platform uses stacking organizational methods and workable tools to create an ecosystem of governance, cooperation and consensus to power decentralized companies, funds and markets.

Billed as the WordPress for blockchain organizations, DAOstack allows like-minded people and organizations to pool together their intelligence and work towards common, shared goals without handing over power to a centralized structure such as a board of directors or top management.

The platform already has the alpha release of its first governance stack, Alchemy, live on the Ethereum mainnet. Alchemy allows DAOs of any size to allocate voting powers to their shareholders. Now, anyone holding even a single share in a DAO powered by the platform can have his or her say in all activities of the organization. Blockchain technology makes this transparent and effective in terms of voting and the resultant decisions made.

DAOstack also employees a GEN prediction network which studies and filters out proposals that would have a low chance of being passed in voting. This aligns DAOs with the best interests of their members.

Listing on Liquid

A good token is only as effective as its ability to be acquired easily by traders. With this in mind, DAOstack has announced its GEN token listing on Liquid, a next-generation exchange. Liquid is the result of the merger of Qyinox and Qryptos, two exchanges owned by the Quione Corporation. Last year, the organization was the first global crypto exchange to be licensed by the Japanese Financial Services Agency. The listing of GEN allows the token to be accessible to thousands of traders and potential shareholders in DAOs running on the DAOstack platform.

The token is required by shareholders of DAOs on the platform in order to have voting rights and make proposals.

About Liquid

Owned by Quoine, the merger of Qyinox and Qryptos into one exchange offers better service and deeper trading markets to its users. The name of the platform is apt since, with increased price matching and more traders, users of the exchange have a higher liquidity ratio for cryptocurrencies. The exchange also has a higher number of trading pairs not only of crypto to crypto, but crypto to fiat as well.

The exchange has very low trading fees with free deposits and also has a lending scheme, where investors can loan their assets and earn interest from them.

For more information on DAOstack, visit their website:

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How Would Bitcoin Be Impacted by a Geomagnetic Reversal?

The Earth’s magnetic field experiences a geomagnetic reversal periodically, which is where the north pole becomes the south pole, and the south pole becomes the north pole. This would cause compasses to point in the direction opposite to what they do today.  A geomagnetic reversal does not happen all at once, it is a process which takes 1,000-10,000 years, during which time the Earth’s magnetic field becomes much weaker and also splits into several pieces. This would result in an increase of charged particles from the solar wind bombarding Earth’s surface, making geomagnetic storms far more dangerous. Since Bitcoin relies on electronics, the Bitcoin network and Bitcoin users could experience detrimental effects during a geomagnetic reversal. This article explores how Bitcoin would be impacted by a geomagnetic reversal, and the possible ways to mitigate negative effects.

There have been 183 geomagnetic reversals over the past 83 million years, yielding an average of 1 geomagnetic reversal per 450,000 years. Reversals are due to patches of iron atoms in Earth’s outer-core becoming reverse aligned, and as these patches of reverse magnetism grow stronger they weaken Earth’s overall magnetic field and then cause it to flip. Sometimes the reversal does not complete itself, resulting in a geomagnetic excursion where the Earth’s field weakens and can even briefly flip, but only for a relatively short amount of time before the field returns to normal. A geomagnetic excursion can have the same damaging effects as a full reversal for electronics and Bitcoin since it comes down to a weaker magnetic field letting in charged particles from space. Geomagnetic reversals and excursions are actually theorized to cause mass extinctions, due to all the radiation that gets to the surface due to a weaker magnetic field.

While a geomagnetic reversal sounds like something that will not happen in our lifetimes due to its long geological time scale, it appears that a geomagnetic excursion or reversal is already beginning. This makes sense since it has been 780,000 years since the last geomagnetic reversal, although, only 41,000 years since the last geomagnetic excursion. The Earth’s magnetic field has been progressively growing weaker over a large area of South America and the South Atlantic, and this is called the South Atlantic Anomaly (SAA). Already, the Earth’s Van Allen belt of energized charged particles has dipped to within 200 km of the surface over the SAA, as opposed to its normal altitude of 500 km. Eventually, the SAA could strengthen and lead to a geomagnetic excursion or reversal.

The Van Allen belts would actually crash right into the surface of the Earth during a geomagnetic reversal, since there would be potential for multiple poles to develop besides the 2 poles we have today, highly distorting the magnetic field. This would pose a great danger to all electronics, including the internet and computer infrastructure which runs the Bitcoin network. Shields for Van Allen belt radiation have already been developed for satellites in low earth orbit, such as the International Space Station since they pass through the Van Allen belt when they travel through the SAA. This same sort of shielding might have to be integrated into computers, internet cables, and power cables during the future when a geomagnetic reversal happens, in order for Bitcoin to function properly.

Beyond this, geomagnetic storms would become far more severe. Even in our modern times, a strong enough geomagnetic storm could knock out power and internet for up to a billion people and causes trillions of USD of damage. This is due to currents being generated in electronic devices, and especially cables, as the local magnetic field rapidly fluctuates during a geomagnetic storm. The tropics and even most of the mid-latitudes are well protected from geomagnetic storms thanks to the Earth’s magnetic field, but during a geomagnetic reversal the Earth’s magnetic field would be much weaker and possibly split into more than 2 poles, which would allow severe geomagnetic storm effects to occur anywhere, even in the deepest parts of the tropics.

Geomagnetic storms are predictable, so a mitigation strategy to protect the Bitcoin network is to turn off electronics prone to power surges before a geomagnetic storm hits. That strategy will have to be mixed with shielding some Bitcoin full nodes around the world, to make them impregnable to geomagnetic storms, since Bitcoin will need some full nodes operating 24/7 to keep the network alive. This is as opposed to currently, where even during the strongest geomagnetic storm Bitcoin full nodes in the tropics are automatically shielded due to the Earth’s magnetic field. During a reversal, there’s no place where a Bitcoin full node will be totally safe.

Solar power to generate electricity when the power grid goes down, as well as internet cables that are well shielded, will be essential to keep Bitcoin alive during the onslaught of geomagnetic storms and Van Allen belt radiation during a geomagnetic reversal. A simple strategy could be for large Bitcoin mining farms to make an impregnable shield against external radiation and charged particles since it will be essential to keep Bitcoin mining hardware safe and online so the network remains secure, and Bitcoin miners also function as full nodes.

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The First Bitcoin Faucet Gave Out 5 Bitcoins Per Day

Currently, Bitcoin faucets give out a few satoshis per click, where a satoshi is 0.00000001 bitcoin. For example, one of the most popular Bitcoin faucets, 99 Bitcoins, has closed down after dispensing 12.795 bitcoins since November 2015. This pales in comparison to the first Bitcoin faucet launched by Gavin Andresen, one of the earliest Bitcoin developers, in June 2010. At that time Bitcoin essentially had no value or exchange rate, so the faucet gave out 5 bitcoins per day. As of 21 October 2018, 5 bitcoins are worth USD 32,000.

Gavin Andresen loaded up the faucet with 1,100 bitcoins, worth over USD 7 million as at the time of this writing, and asked for further donations to keep the faucet running. In total 19,175 Bitcoins went through the faucet, worth USD 124.5 million currently. Shockingly, despite the payout of 5 bitcoins per day for just a single click, a user complained: “What! Only 5 bitcoins?

The faucet appears to have run dry by the middle of 2011 based on Bitcointalk posts, likely due to Bitcoin’s increase in price, making people unwilling to donate to the faucet. Before the faucet was completely turned off, its payout was progressively reduced to 0.02 bitcoin, which is worth USD 130 as of this writing.

After this first Bitcoin faucet, other Bitcoin faucets depended on advertising revenue to fuel the faucet. This worked well for 99 Bitcoins until Google AdSense pulled crypto ads for all crypto faucets, after which 99 Bitcoins depended on advertisers that paid less money and spammed the site with poor quality ads. In September 2018, 99 Bitcoins shutdown, although numerous other Bitcoin faucets still exist.

However, no Bitcoin faucet has ever compared to the first Bitcoin faucet launched by Gavin Andreson. If someone used the faucet every day while it was active, they would easily be able to retire for the rest of their life and live comfortably. That’s of course if the faucet users HODLED their Bitcoin, which is probably unlikely since the times Bitcoin rallied to USD 100, USD 1,000, and USD 20,000 would have been extremely tempting times to cash out.

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Cryptocurrency and Blockchain Makes a Difference in Africa

Humanitarian Blockchain

a series

   Part 4: Cryptocurrency and Blockchain in Africa Is Making a Difference

Both cryptocurrency and blockchain have a part to play in empowering African leaders to inject growth and financial inclusivity into their economies. Individual and local empowerment by taking responsibility for water, electricity, banking, IT, communications, education, local elections, and research are all achievable, as shown by a growth in crypto and blockchain projects in these sectors around the huge continent of Africa. Bitcoin News explores how some projects are making a difference.

Globalization has arguably transpired at the cost of the African nations, which primarily exports raw materials rather than manufactured goods that hold the larger profit margin. Cryptocurrency is an opportunity for the citizens of Africa to enter the global marketplace, investing in entrepreneurial ventures on a scale previously inaccessible.

The application of blockchain-based solutions to small local run enterprises may be a way of breaking the chains of corruption, exploitation by multinational industries and corrupt national governments for many Africans. The reason for using blockchain is that it is secure and transparent in nature. No individual or single entity can alter entries on the distributed ledger.


Connectivity is essential across Africa if it is to address the disparity of those that have and those that don’t and attract business from overseas. A new report by the International Telecommunications Union (ITU) has outlined that Africa will need to invest more on internet connectivity in order to maintain the continent’s current pace of cryptocurrency adoption.

Using the Sun

Solar power needs to be utilized more readily across some of the poorer and more remote parts of the continent. A project by Sun exchange is addressing this problem. AfricaPowerhive will be the beneficiary of funds generated from the sale of Sun Exchange’s SUNEX rewards tokens by public sale. The money will then be spent on developing solar-powered mini-grid projects in Sub-Saharan Africa.

The project will allow for the used solar panels to be sold off later to Sun Exchange members who will, in turn, own the cells used in the projects and subsequently profit from a sustained period of “solar-powered money”. Sun Exchange founder and CEO Abraham Cambridge said in a press release that:

“Together, we are working towards a world where no one is forced to cook with unsafe kerosene or wood-burning stoves, no child has to worry about how they will study after dark, and lack of energy access ceases to propel cycles of poverty.”

Building Schools

Education is an area being tackled using crypto in Rwanda where an NGO and a cryptocurrency platform are planning to construct a school by using only cryptocurrency funding.

The non-profit organization, Zam Zam Water, in a cooperative project with Peer-to-Peer finance platform provider Paxful is aiming to raise $100,000 for an education center. The project will be implemented in Rwanda’s Bugesera District, complete with full-time teaching staff.

The raising of estimated building costs of around $100,000 has been started for the new project with a donation of $20,000 from Paxful. The remaining funds will be raised through online crowdfunding. Cryptocurrency donations via Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Dash will be matched by the crypto platform’s BuiltWithBitcoin initiative until the necessary funds have been raised.


Out of the 20 countries with the highest fiat inflation according to the CIA World Factbook, 13 of them are in Africa. South Sudan has the worst inflation rate in Africa, over 100% per year, with Congo, Libya, Angola, Sudan, and Suriname having yearly fiat inflation in excess of 20%. Burundi, Mozambique, Sierra Leone, Nigeria, Egypt, Malawi, Liberia, and Ghana, have yearly fiat inflation rates in excess of 10%.

Additionally, a large fraction of Africans doesn’t have banks or access to the financial system. For example, in Sub-Saharan Africa, only 43% of those 15 or older have bank accounts, versus 69% in the rest of the world. Cryptocurrency can provide the financial infrastructure that Africans desperately need but don’t have access to.

Lady Victoria Walker, CEO of the United Digital Currency Reserve Foundation and UK based fintech entrepreneur feels that new technologies such as blockchain and cryptocurrency are essential factors in empowering African leaders to inject growth and financial inclusivity into their economies. She argues:

“Bitcoin is a reality. We have all major world governments scrambling to make sense of it and world leaders sharing their views on the currency. For the past 700 years, our world has relied on the European legacy banking system for means of payments and transactions. Bitcoin is definitely challenging the traditional way when it comes to the transfer of value. Just like the internet changed how we shop, bank, date and find information.”

Solutions are there, such as Africa-focused cryptocurrency exchange called Coindirect. Co-founder Stephen Young says that Africa has unique problems and these must be considered in any startup plan for cryptocurrency adoption on the continent. He feels that current exchanges don’t take these into consideration. In terms of African fiat currencies, Young identifies their systemic volatility, insecurity and lack of governance as factors that the crypto space need to take on board: He argues:

“If Africans are to benefit from the cryptocurrency revolution we need make it easier to buy, store and trade cryptocurrencies. As Africans, it is our responsibility to help build the infrastructure and we need to be a part of the revolution.”

Although cryptocurrency isn’t a solution to all of Africa’s economic instabilities, it is a marketplace full of innovations that have the potential to diversify and better the economy of the continent.

Skeptics have argued that it has been lenders who have historically benefited from microloans, due to non-restrictive or in some instances a complete lack of barriers, which often translate to high-interest rates. The application of blockchain-based solutions to these loans is increasingly being cited by business as a way of addressing other microloan issues such as large overheads, slow delivery, and corruption. The reason for using blockchain is that it is secure and transparent in nature. No individual or single entity can alter entries on the distributed ledger.

An IBM pilot project, developed at the IBM Lab in Nairobi, uses Hyperledger Fabric, a blockchain framework implementation that acts as a bedrock for developing applications and solutions. The project simply requires African users to own a mobile and need capital to grow their business. The IBM blockchain program aims to fill the finance gap so small ventures can flourish on the African continent.

Andrew Kinai, the lead researcher at IBM research, suggested that the aim of the program was to offer the opportunity for small businesses to participate in an interdependent ecosystem based on SMS. Users, some with limited IT literacy would be better positioned to access financing for their orders.


In Kenya, misappropriation of funds and fraud at a local level has been a huge problem, with the police, local leaders and utilities all taking bribes. Blockchain is now the last attempt at addressing some of these local issues after years of mismanagement when it was realized that other methods were prone to illegal intervention. A new local building product will be its first use-case. The National Housing Fund under the Finance Act of 2018, to which Kenyans contribute 1.5 percent of their salary, will be responsible for the new blockchain-backed building project, with further financial support from employers.

Also in June, decentralized liquidity network Bancor, in partnership with the non-profit foundation, Grassroots Economics, launched a network of blockchain-based community currencies in Kenya aimed at combating poverty. The project seeks to stimulate local and regional commerce and peer-to-peer activity by enabling Kenyan communities to create and manage their own digital tokens.


There are many reasons why Africans are beginning to turn to cryptocurrencies rather than traditional currencies. Many nationals fall foul of inflation and hyperinflation, resulting in weak and unstable financial systems. Recently, countries such as Zimbabwe, South Sudan, and oil-rich Nigeria have all suffered, many of these countries with inflation rates well into the hundreds of percentages. In these situations, it is hardly surprising that populations look to a more stable form of monetary solutions in their daily lives.

Africa has huge challenges ahead, but with the help of blockchain technology, businesses can be transformed using more efficient ways of working. Blockchain can move Africa forward, simplifying existing systems and processes to lower costs. Blockchain can help reduce fraud, enable fast transactions,  secure supply chains while maintaining transparency. It also removes human error and inefficiencies from a continent which is still developing.

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Brian Kelly: Crypto Set for Institutional Investment Bull Run in 2019

CNBC’s Brian Kelly sees the arrival of industry names setting up crypto subsidiaries, as “fantastic news” which should encourage institutional investments to take off in the new year.

He was specifically referring to news this week that Boston based Fidelity Investments, the fourth largest asset manager with $7.2 trillion in assets under administration, was moving into crypto, offering custody and trading solutions to its clients.

The creation of the company subsidiary Fidelity Digital Asset Services (FDAS), is in Kelly’s view another positive in terms of attracting institutional crypto investment, a factor that, as he has argued for a long time, could start another crypto bull run similar to that of 2017, a view also held by Galaxy Digital’s Mike Novogratz.

The news that major US universities are all raising their cryptocurrency profiles has Kelly proposing that mainstream brokers could easily be brought into the fray in the new year, once the word is out that cryptocurrency is becoming an institutional drawcard. On CNBC he stated:

“Soon. I think very soon. It wouldn’t surprise me to see a lot of those companies have something working in the background by Q1 of 2019. I mean if you’re looking at this, there are a couple things you need to think of. Fidelity is in this space. Also, remember that startups like Robinhood launched a crypto app and got a million users in four days. So if you are at Schwab or you’re at E*Trade, then you may start to look at that and say, “Where are the customers?” And they’re in crypto, so you gotta offer that product.”

Kelly and Novogratz are not the only ones in the market that feel that “institutional FOMO,” should be the catalyst behind the cryptocurrency market’s next bull run, hence all eyes on the SEC and their net move; the addition of yet another major player to the growing cryptocurrency institutional family network is in their eyes no bad thing.

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