Author: Adebiyi Emmanuel

Image Credit: Eliud Kipchoge / Goal.com Eliud Kipchoge, an eight-time major marathon winner and three-time Olympic medalist who is often regarded as the greatest marathoner of all time, became the first Kenyan professional athlete to sell his own set of NFTs.According to the official Twitter handle of Eliud Kipchoge, the athlete, launched his first two sets of NFTs. Eliud said that he was delighted to have the memories of his career available as NFTs. He further said that he hopes that he will give someone around the world the exact memories it gave to him.The digital representations–Non-fungible tokens (NFTs)– of…

Image Credit: AfDB According to the official website of the Eastern and Southern Trade and Development Bank (TDB), recently announced that the first Intra-African multi-million trade, which is worth nearly $400 million was done using blockchain.The Intra-African Fertilizer trade was facilitated by the TDB, in which the OCP Group, a state-owned phosphate mining and fertiliser producer delivered the phosphate fertilizers from Morocco to the Ethiopian buyer.These transactions were executed via a blockchain platform provided by dltledgers, a Singapore Fintech which operates on R3 Corda decentralized and consensus network. $270 million has already been paid, and the remainder is to be…

ICE3X, one of the first and oldest crypto exchanges in South Africa and across Africa which was founded in the year 2013 with roughly 80,000 clients ceased operations permanently due to low liquidity. Earlier this year, ICE3X announced that they noticed some discrepancies in the balances pertaining to Bitcoin and Litecoin held on the platform on March 16. After several consultations and deliberations with their partner Merkeleon.com and subsidiary Coinspaid.com, no satisfactory conclusion was reached. But on the advice of their auditing and legal team, ICE3X suspended deposits and trading of cryptocurrencies on their platform. In addition, Bitcoin (BTC) and…

In African countries, the lockdown effect of the COVID-19 pandemic has totally changed the way we live, work and interact with each other. This is proof that the decentralized Web 3.0, the Fourth Industrial Revolution, Artificial Intelligence, Cryptocurrency, and Blockchain are already here- and in fact, here to stay. Satoshi Nakamato created Bitcoin with the goal to serve as an alternative to fiat currency, but Decentralized Finance (DeFi) is taking it a mile further. As the name implies, DeFi is designed to provide a trustless and permissionless system which eliminates the need for middlemen, with a special focus on a…

Central Bank of Egypt According to Daily News Egypt, the Central Bank of Egypt (CBE) has, once again, sent out a warning statement to the general public, against issuance, dealing, trading, or promoting all kinds of cryptocurrencies such as Bitcoin and any other associated activities. The Central Bank of Egypt (CBE) indicated in the warning statement, that cryptocurrencies are associated with high risk due to their fluctuations, instability, and extreme volatility. Also, it is an uncontrolled and unregulated global speculation, making investing in them risky, which can lead to huge loss of funds. The warning statement points to Article 206…

The Binance Smart Chain (BSC) was launched in September 2020, with the aim of allowing users to create smart contracts for tokens on the Binance blockchain. It makes use of the Proof of Stake (POS) consensus algorithm, which boasts compatibility with the Ethereum Virtual Machine (EVM).The Binance Smart Chain connects seamlessly with many familiar tools used by Ethereum developers to improve user experience, security, and scalability. By being EVM compatible, the Ethereum developers can easily move their applications over to the BSC ecosystem. Apart from the EVM compatibility, BSC has several fascinating features such as cheaper fees, interoperability, short block…

In recent years, there has been increased mainstream adoption of cryptocurrency and blockchain technology in Africa. According to Chainalysis, Africa is the second-largest continent for peer-to-peer (P2P) trading with two African countries ranking in the top eight of Chainalysis crypto adoption index.Crypto payments and remittances is increasingly becoming a common feature in many parts of Africa, allowing enthusiasts, business owners and individuals to make fast, cost-efficient transactions, thereby, increasing productivity in some of the most underbanked communities. In 2020, Nigeria led the continent’s growth having weekly P2P volumes within the range of $5 million to $10 million, followed by its…

The Financial Sector Conduct Authority (FSCA) of South Africa, on February 4, 2021, put out a press release on crypto-related investments, due to a large number of complaints received on the loss of savings and investments in cryptocurrencies via scams or ponzi schemes packaged as a crypto investment promising unrealistic high returns.In the press release, FSCA briefly explained what cryptocurrencies are all about and made it known that they are not issued by a central bank. They are being traded, transferred or stored in a crypto-enabled wallet which can be used for payments, investments and funds-raising. According to the Financial…

Since the beginning of 2021, there has been a massive cascade of liquidations from future trading in the cryptocurrency market. According to glassnode on January 4, an on-chain analytics resource via their Twitter handle said that a futures trader which long positions lost a total of $190 million on Binance within 10 minutes – which is the highest in history. While on January 11,2021, over $2.7 billion worth of futures contracts were totally liquidated according to the data from Bybt. This was caused by the large drop in the price of bitcoin within a short time frame as it plunged…

Image credit: Bundle (Image was modified) Bundle has revealed via his Twitter handle that it has added Cardano $ADA and Polkadot $DOT, to their growing list of cryptocurrencies on their App. Cardano and Polkadot are one of the top ranking cryptocurrencies in the market. With this addition, Bundle, currently available to Nigerians and Ghanaians users now have access to a total of 14 cryptocurrencies to trade on the app. Bundle, an African-based social payments app for cash and cryptocurrencies was launched in April, 2020. It was founded by Yele Bademosi, a former director at Binancelabs. Launched in April 2020, Bundle…