International Investment Company Advances Cryptocurrency Adoption Across Africa JOHANNESBURG, June 13, 2019- Today Apollo Currency announces a historic partnership with African Development Funding Group (ADF Group) to encourage the use and adoption of cryptocurrency at a national level across the continent of Africa. The ADF Group works directly with 54 African Nations at the presidential and ministerial level to provide funding and sustainable development on a range of commercial and non-profit ventures. In addition, the ADF Group offers a comprehensive suite of financial consulting services to governments, specializing in wealth management, infrastructure projects, and more. The ADF Group originated as an investment company focused on Africa,
Digital currency prices have spiked considerably in the last 24 hours and bitcoin core (BTC) stopped short about $ 70 in an attempt to cross the $ 10K price zone. Most cryptocurrencies are up between 2-8% on Friday, June 21 and the entire cryptoconomy surpassed $ 300 billion.
By CCN Markets: Facebook’s unveiling of Libra, its cryptocurrency project coming in 2020, has caught the attention of many, including the French Finance Minister. Bruno Le Maire, speaking on French Radio, has said that this new cryptocurrency cannot operate as a sovereign currency. Facebook’s Libra project intends to introduce a digital currency for usage on its platforms. However, this is raising several economic issues. Concerns on its regulation, and the status of this currency, are up for debate with Le Maire giving some stern warnings. Stern Libra warning With its reach of over 2.3 billion users, Facebook’s cryptocurrency could well call
By CCN Markets: The Italian government is mulling the decision to issue a “parallel currency” in a move that could plunge the eurozone into crisis – and provide the best case yet for mass bitcoin adoption. In the same week, the Italian deputy prime minister proposed a tax grab on cash and valuables stored in safety deposit boxes. These crisis policies expose deep cracks in the fiat monetary system. The move prompted money historian Rebecca L. Spang to call for a new foundation of money. “The time has come for a new, more equitable, version of money.” While she doesn’t
Internal Revenue Service (IRS) commissioner Charles Rettig has explained to U.S. representatives that the tax department plans to issue clearer guidance toward cryptocurrency taxation soon. Since 2014, Americans have been asking the tax agency for better clarification in regard to official tax guidelines.
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Digital asset holders and organizations have been donating funds to a number of well-known universities. These days a slew of popular colleges like Stanford, MIT, Cornell, Puget Sound, and Princeton all accept digital currency donations or have high-net-worth crypto backers funding these schools. On the flip side of higher education, many of the world’s prestigious universities also offer elective courses that teach blockchain technology.
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The Marshall Islands will soon circulate physical banknotes representing the world’s first decentralized national digital currency. This is happening under an agreement with Tangem, a Swiss maker of blockchain-enabled smart card wallets for cryptocurrencies. “We are excited to partner with the Republic of the Marshall Islands to do something that has never been done before: issue a digital currency as official legal tender,” Tangem co-founder Andrey Kurennykh gushed in a statement. Smart Card with Microchip and NFC Antenna The physical banknotes will take the form of a smart card powered by a blockchain-enabled microprocessor. Tangem says its technology enables users to
Saudi Arabia and the United Arab Emirates are hoping a shared digital currency can cut remittance costs between the two countries.
Bitcoin tanked in 2018, but the future of cryptocurrencies remains bright because you can’t stop progress. That’s the assessment of Travis Scher, a vice president at crypto investment firm Digital Currency Group. “2019 will be volatile, entertaining, and full of surprises,” Scher wrote in a Medium post. “But I am confident that the stress caused by the 2018 crash
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Plans to issue a state-backed cryptocurrency in India have stalled, months after the country’s central bank gave indications that it was considering the idea. According to The Hindu Business Line, the government is no longer interested in the state-backed digital rupee. Citing a source, the report by the publication indicated that the idea of a
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Calgary has become the first Canadian city to launch a digital version of its local currency. Known as the Calgary Digital Dollar, the digital currency will be used exclusively in the City of Calgary located in Alberta Province and will operate alongside the federal currency, the Canadian Dollar (or the loonie as it is popularly
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R3 has unveiled a new app on their international blockchain, a global payment platform that uses Ripple’s XRP as its initial base currency.
The app, dubbed Corda Settler, continues R3’s track record for pursuing ambitious blockchain projects, and it is allegedly “purpose-built to allow for payment obligations raised on the Corda blockchain platform to be made through any of the world’s payment systems, both traditional and blockchain-based.” The press release clarifies that XRP will be the first cryptocurrency specifically supported by Settler, but also stated outright that it would not be the only one in the foreseeable future.
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Well, here’s something we didn’t expect this early in the century. Ohio’s state government is now accepting Bitcoin and Bitcoin Cash via its payment portal, serviced by BitPay. As CCN reported: “Ohio will become the first state in the US to officially accept tax payments in bitcoin, according to a Wall Street Journal report. Beginning
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Barry Silbert, the founder of Grayscale Investments, a digital asset management firm owned by Digital Currency Group, believes the initial coin offering (ICO) party has come to an end. During a recent interview on CNBC’s Squawk Box, Silbert touched on current crypto market correction and its ramifications on the once thriving token sales. “The ICO market is dead… […]
Study263, a Zimbabwean-owned fintech startup operating from South Africa, has opened an online store allowing Zimbabweans to buy food hampers that are delivered directly to their homes. Shoppers have the option to pay for items like cooking oil and baked beans in BTC, Paypal or Ecocash, a local mobile money payment system.
As Prices Spiral, Study263 Helps Zimbabweans Import Food Using Bitcoin
The southern African country of Zimbabwe, which adopted the U.S. dollar after abandoning its currency at the height of hyperinflation in 2009, is gripped by a shortage of foreign currency which has seen prices of imported goods spiral in recent weeks.
Thai citizens will have to be patient in the wait for a retail central bank digital currency that will save them from carrying cash around. According to the governor of the Bank of Thailand (BoT), Veerathai Santiprabhob, plans to switch from cash to a digital currency will not happen within the ‘next 3-5 years’. This … Continued
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The Managing Director and Chairperson of the International Monetary Fund (IMF), Christine Lagarde, has called on central banks around the world to consider issuing digital currencies. According to Lagarde, the state has a role to play in injecting money to the digital economy and it was, therefore, necessary to ‘consider the possibility to issue digital
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