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Bitcoin’s rise in African markets is driven by an old Russian ponzi scheme

Bitcoin’s rise in African markets is driven by an old Russian ponzi scheme

FinTech, Security, What's Hot
“Welcome to the System! Together we will change the world!” These are the words I found scrawled at the bottom of a web page, right next to a picture of Sergei Mavrodi, a convicted Russian fraudster infamous for operating Mavrodi Mundial Moneybox (or MMM), one of the world’s largest ponzi schemes. Two decades after MMM was shut down, the organization reemerged under new branding, as a technology-driven “financial mutual-aid network” that uses Bitcoin to provide its members up to 100% returns on their contributions. If MMM’s participation numbers are to be believed—they claim to have over 200 million participants—they may be one of the biggest drivers of Bitcoin adoption in the world today, especially in low-income areas. Bitcoin may not be an unalloyed good for the developing world.
Zimbabwe’s NetOne plans ‘M-Pesa of Southern Africa’

Zimbabwe’s NetOne plans ‘M-Pesa of Southern Africa’

FinTech, Mobile Money, What's Hot
Zimbabwe's state-owned mobile network operator NetOne plans to launch its OneMoney mobile money service in October, to complement the already-released debit card linked to the ZimSwitch platform. OneMoney will be linked to a debit card unveiled two weeks ago during the syndicated mobile money platform (SMPPS) roll-out to farmers, according to NetOne acting CEO Brian Mutandiro. The OneMoney debit card is linked to ZimSwitch and costs R40 (US$3) and customers can walk into any NetOne shop to collect their cards. "I can assure you that the mobile financial service in Zimbabwe will never be the same again," said Mutandiro, who added that Safaricom's M-Pesa supplied the vendor system for OneMoney. State-owned MNO announces intention to launch OneMoney mobile money service. "OneMone...
NetOne’s OneMoney takes market by storm

NetOne’s OneMoney takes market by storm

Breaking News, FinTech, Mobile Money, What's Hot
MOBILE telecommunications giant, NetOne is set to officially unveil its mobile money platform dubbed OneMoney along with its Zimswitch connected debit card this month. OneMoney, which is a correction and improvement of the OneWallet platform, is expected to shake the sector as people from different sectors have already expressed interest in the product. “As you can see, we are already issuing the debit cards and what is left only is the official launch, which I understand will be done by the end of this month,” a NetOne shop customer care representative told The StandardPeople. OneMoney is connected to most Zimbabwean banks which are already on the Zipit platform and customers enjoy the convenience of moving money from their banks to OneMoney and vice-versa. It becomes the second
Cyber Security Ministry meant to enhance national security

Cyber Security Ministry meant to enhance national security

Breaking News, Security, What's Hot
Security, Threat Detection and Mitigation — sparking widespread debate among the country’s netizens (internet users) most of whom were fascinated by the new ministry. There was frenzied debate on social media, with focus trained on the possible mandate of the new ministry but the general consensus was that Government was trying to muzzle citizens’ freedom to use the internet as they see fit. Clearly, there was a need for clarity on the role of the new ministry and the Government obliged by explaining the mandate of Cde Chinamasa’s new assignment. Speaking to journalists at State House on Tuesday where some of the new ministers were being sworn in by President Mugabe, presidential Press secretary Cde George Charamba said the Ministry of Cyber Security, Threat Detection and Mitigation was
Shifting the national mindset: Sustainable development through ICT

Shifting the national mindset: Sustainable development through ICT

Gizmos, News, Security, Start Ups, What's Hot
It is often said that individuals build families, families make up society and societies build a nation. However, when addressing issues of social transformation, it is evident that the nation, represented by structures, has greater influence on the generality of the people. Policies and ideologies that are driven at national level determine how a society progresses. Zimbabwe as a nation, like any other country, is endowed with magnificent resources: minerals, fertile lands, wildlife, climate, and chief among the resources is human capital. However, tracking global developments, it is evident that development is now technologically driven through automation, digitisation of everything, artificial intelligence, robotics and many other shifts in the global economy. Our great nation ought ...
Cryptocurrency is the great African opportunity

Cryptocurrency is the great African opportunity

Breaking News, FinTech, What's Hot
  Cryptocurrencies are gradually being discovered in Africa. In countries like South Africa, Ghana, Kenya, Botswana, Zimbabwe and Nigeria, there is a semblance of digital currencies, primarily bitcoin, taking roots. Blockchain or DLT (distributed ledger technology) can be seen as the solution for Africa’s current problems and future growth. Bitcoin, based on blockchain, could be the engine for African growth, and could fuel the continent’s great leap forward. It is important to first define a few concepts in the field of cryptocurrency. As such, cryptocurrency itself is defined as a digital asset designed to work as a medium of exchange, using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are class
African rulers’ weapon against web-based dissent: the off switch

African rulers’ weapon against web-based dissent: the off switch

Applications, Start Ups, What's Hot
DAKAR: Rapidly expanding access to the Internet across Africa is helping grassroots opposition movements take on once-invulnerable regimes. Many entrenched rulers have a simple response: pulling the plug. While countries in the Middle East and China employ firewalls and block virtual private networks to control web access, leaders in Africa increasingly prefer the blunter instrument of outright outages. Critics say that infringes not just the rights of individuals but also undermines the burgeoning economies of some of the world's poorest countries. Since the start of 2016, governments in 13 African nations have intentionally shut down the Internet on 21 occasions, mainly during elections and protests, according to a database run by online rights group Access Now. That compares to...
Ghana’s Dext Technology to represent Africa at ISHOW 2017

Ghana’s Dext Technology to represent Africa at ISHOW 2017

Gizmos, Start Ups, What's Hot
Ghanaian hardware startup, DEXT Technology is among 3 innovative start-ups selected to represent Africa in this year’s Innovative Showcase(ISHOW), a global competition for hardware-led social innovations. The competition, organized by the American Society of Mechanical Engineers (ASME) is scheduled to take place in the USA from the 18th to the 20th of October 2017. ISHOW is open to individuals and organizations taking physical products that will have social impact  to the market. Dext  Technology became part of the competition after going through the first event held in Kenya in May 2017.   The competition and event will feature start-ups from various countries, and Ghana’s team DEXT - made up of Charles Ofori Antipem and Micheal Asante-Afrifa (designers of
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