According to local media, golfers in Africa and Europe will be awarded Crypto prizes in the form of Bitcoins at the end of the 2022 season. This has become possible thanks to the sponsorship of the South African Sunshine Tour (Luno platform).
The EBC introduces new principles for operations on crowdfunding platforms with respect to the placement of offers and disclosure of information.
Investments in cryptocurrencies are growing rapidly in Africa. Such assets are most popular in countries with high inflation and a difficult economic situation.
The BIS Innovation Center completed a pilot project of the Central Bank’s digital currency pilot platform (CBDC) for international settlements. Central banks from Singapore, Australia, Malaysia and South Africa participated in the project.
In their report, analysts acknowledge that this significant growth was possible due to the small volume of cryptocurrency transactions in previous periods. Even now, users from Africa make only 2.8% of total cryptocurrency transactions.
Fintech startup Basqet announced the launch of the public beta version of its payment service and announced its readiness to support payments in VTC, USDT, ETN and LTC. The list of accepted cryptocurrencies will expand as the service develops. Prior to the beta launch, test transactions worth over $1.3 million were conducted. Basqet’s team said it is ready to work with the 118 companies that have already signed up.
The CBN launched its own digital currency in October 2021, becoming the first central bank in Africa to introduce such a product. Nigerian President Muhammadu Buhari believes eNaira will help “take entrepreneurs out of the gray zone” and boost the country’s GDP by $29 billion over the next decade. In the first month after eNaira’s launch, about 80,000 traders became users, officials said.
Blockchain is not just about cryptocurrency. Its technology can help Africa get rid of intermediaries in the production chain, create new opportunities for farmers and make the local market more transparent. Blockchain can also make services more affordable, especially when it comes to financing trade and remittances, including overseas. All this would help the people of Africa to receive and multiply the benefits of their transactions.