How blockchain is being used to address low mobile internet access in Africa
A recent World Bank report found that mobile internet access can alleviate poverty. Yet, Africa lags in internet use. Some blockchain companies are trying to fix this.
South Africa
Jack Dorsey’s Block partners with African crypto exchange Yellow Card
The partnership is to facilitate cross-border payments in Africa based on Block’s infrastructure.
5 billion reasons Africa needs to ditch the U.S. dollar for cross-border trade
Although the U.S. accounted for less than 10% of Africa’s total trade in 2019, nearly half of Africa’s trade is settled in U.S. dollars. The mismatch in commercial and payment flow cost Africans $5 billion yearly, Kioneki writes.
Swiss-based CV Labs selects three African startups for its accelerator program
Six other startups were also selected to be a part of the program
Pan-African bank Absa wants to digitize trade finance with blockchain
The bank will be able to adopt a digital process for issuing letters of credit
‘CBDCs are potentially useful,’ says Standard Bank’s chief executive
However, he does not share the same optimism about privately generated cryptocurrencies.
Crypto exchange Luno works with South African advertising board to issue new rules for crypto adverts
The clause seeks to protect South African consumers against unethical advertising in the crypto industry.