Category Archives: Johannesburg

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ConsenSys to Assist in Blockchain Training for Young Black Women

ConsenSys to Launch Blockchain Training for Young Black Women

ConsenSys has teamed up with Black Girls Code, a non-profit organization providing tech training to young women of color between the ages of 7 and 17.

The partnership will establish the first blockchain training program of its kind in the US which will branch into US states and beyond. The program will be available in Oakland, California, Atlanta, Georgia and in New York City, with plans to run in Johannesburg, South Africa.

The program will be a comprehensive entry in the blockchain system for young participants, including lessons in cryptocurrencies and the fundamentals of the blockchain. Students will be thrown in at the deep end with a hands-on approach, requiring that they participate and contribute to blockchain developer conferences around the globe, enabling them to turn theory into practice. Black Girls Code CEO Kimberly Bryant commented that:

“The ConsenSys team has consistently impressed me with their commitment to creating pathways for access and inclusion within the blockchain ecosystem and their passion for introducing these tools to the next generation of coders.”

Black Girls Code has even developed its own token, and since August of last year, 60 young black women involved in the program have been introduced to the workings of cryptocurrency and blockchain, with a view to increasing these numbers into hundreds in 2019.

The organization has huge targets and has stated that it wishes to train a million girls by the year 2040, becoming a high-tech version of the Girl Guides. One aim is to ensure that minority groups in fintech have a space to grow and flourish encouraging innovative outside investments into such groups.

 

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Dip in South African Economy Sees Rand Down and Rise in Bitcoin Trading

The South African economy is struggling with the Rand at a six-month low, but bitcoin continues to gain popularity with investors, writes bitcoinist.com.

In April of this year, the South African Central Reserve Bank (SARB) announced moves towards overseeing cryptocurrency and fintech developments in the country, suggesting rather than taking prohibitive regulatory measures, it would introduce an investigative unit which would promote growth and innovation. The South African Revenue Service also announced a new framework for cryptocurrency taxes.

As a result, cryptocurrency adoption has started growing in the region. AsiaCrypto puts Bitcoin’s continued popularity in South Africa down to the fact that some of the country’s larger asset holders are moving into crypto. “Bitcoin” is now reported to be the trending term on SA Google search.

Other factors according to AsiaCrypto is that South Africa actually benefited from the recent dip in crypto prices during 2018, as this has enabled the creation of new startup businesses. The struggling economy has also aided Bitcoin’s rise in popularity as massive selloffs in the financial market due to the Rand losing value has pushed some investors towards alternative markets, with cryptocurrency becoming a viable choice.

A recent survey conducted in South Africa maintained that one in four respondents confirmed they plan to invest in cryptocurrency in the future, and another 15% said that they would invest in mining equipment. Although, warnings of electricity hikes of up to 50% in the near future may well dampen the enthusiasm of prospective bitcoin miners.

Apart from a recent ATM being installed in Johannesburg, the cryptocurrency community has access to exchanges such as Luno and Paxful who are reportedly doing a healthy trade in Bitcoin with other pairs available. Also, the platform Coindirect enables users to buy and sell Litecoin, Bitcoin Cash, and Ripple.

A new trading platform is scheduled to be opened later this year by asset management company Sygnia.

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Jo’Burg’s First ATM Hopes to Enthuse Local South Africans Towards Bitcoin

South Africa has its first cryptocurrency ATM since 2104 and the new Northwold Spar machine in Johannesburg will become the only one operating in the country, reports Bitcoinist.

George Neophytou, the General Manager of the Northwold Spar and self-confessed crypto enthusiast was inspired to purchase the machine after a trip to Europe, the continent with the world’s third market share of crypto ATMs, He comments:

“It is all awfully exciting. It will take away much the frustration of buying and selling cryptocurrency, and hopefully help make cryptocurrencies mainstream… It’s a different world there. Walking around in the streets of Germany you see signs with ‘Bitcoins accepted there’.”

The ATM, which was imported from Portugal, will be able to process various forms of cryptocurrency tokens including Ethereum and Bitcoin. It’s not the first in South Africa, as a previous machine was installed in 2014 at a men’s salon in Midrand, Johannesburg, but was closed down after a short period in operation. The store manager was excited about the prospect of making cryptocurrency available to his customers:

“It is all awfully exciting. It will take away much the frustration of buying and selling cryptocurrency, and hopefully help make cryptocurrencies mainstream…Lots of people in South Africa are also in the cryptocurrency space and lots of South Africans are watching it. However, not all individuals have access to it.”

Neophyou hopes that his ATM will make cryptocurrency accessible to those customers without a bank account, and hopes to roll out more ATMs, if successful. Although, he warns that those using the machine should do their research and understand that they should only spend what they can afford to lose.

A recent survey conducted in South Africa maintained that one in four respondents confirmed they plan to invest in cryptocurrency in the future, and another 15% said that they would invest in mining equipment. Although, warnings of electricity hikes of up to 50% in the near future may well dampen the enthusiasm of prospective bitcoin miners, according to LiveBitcoinNews.com

South Africa joins Zimbabwe and Djibouti are currently the only African countries to offer cryptocurrency ATMs.

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