Category Archives: Cyril Ramaphosa

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South Africa President’s Son Wears Bitcoin Socks to Swearing-In

South Africa President's Son Wears Bitcoin Socks to Swearing-In

It isn’t often that a country’s leader has the limelight taken away from them during their inauguration ceremony but that is exactly what happened to newly-elected South African president Cyril Ramaphosa on his swearing-in event on Friday when his son decided to wear Bitcoin-themed socks.

The eye-catching piece of clothing was first spotted by Ran NeuNer, the host of popular show CNBC’s Crypto Trader.

The son of South Africa’s president, Tumelo Ramaphosa, somehow managed to look fashionable with the rather noticeable socks sporting the orange Bitcoin logo. But apparently, this is not the first time he has been caught showing off Bitcoin wear, as another Twitter user, Silver Couch, found out:

If I am not mistaken, @ScuderiaTumi also advisor for @blockmesh_io pic.twitter.com/oVGyRhHhkj

— Ruan du Plessis (@SilverCouch) May 26, 2019

BeinCrypto reports that the young man claims to have found Bitcoin in 2010 and has been working on plans of digitization of cattle ownership and other assets for locals through the StudEx startup in a bid to fight rising prices of livestock and rare animals. He also plans to help launch a blockchain-focused university for young entrepreneurs in South Africa.

South Africa itself has had several brushes with Bitcoin. A year ago, kidnappers attempted to ransom a young boy for Bitcoin, although the country has attempted to be warming up towards the currency. Earlier in January this year, the central bank in South Africa had decided to impose “limited regulations” on crypto exchanges in the country.

 

 

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South Africa’s ANC Election Manifesto Cites Blockchain as Game Changer

South Africa's ANC Election Manifesto Cites Blockchain as Game Changer

South Africa’s President Cyril Ramaphosa has revealed the ruling African National Congress (ANC) manifesto ahead of May’s elections which features the advancement of blockchain as an important tool for change.

After a ten-year period of chaotic government in South Africa under the Zuma government, a man now under pressure and facing trial for corruption, the country is looking at Ramaphosa and ANC for meaningful change, honesty and transparency.

At his latest speech in the Moses Mabida stadium in the coastal city of Durban, the president was described as delivering a speech more akin to that of a company CEO than a politician. He said that change was coming in South Africa via new technologies as part of the 4th industrial revolution. Blockchains, data analytics, and the internet of things would be the focus in a new South African government.

It appears that this is already underway with the government’s new assets regulatory working group currently investigating the potential of cryptocurrency and blockchain. The SA Reserve Bank (SARB) is in on the act, and the latest factfinder, Project Koha, has been put together by representatives from the Financial Intelligence Centre, Financial Sector Conduct Authority, and Treasury and the SA Revenue Service.

The SA reserve bank has recently detailed positive results from trialing the settlement of high volumes of payments via the blockchain. The implementation of blockchain in South Africa’s local banking and finance industries has accelerated over recent years and if Ramaphosa has his way, this will be the shape of things to come on the nation’s economic and financial landscape.

 

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