Search Results for: AI and Block chain

Net Giants including Facebook, Telegram & Signal, are planning to roll out new cryptocurrencies

SAN FRANCISCO — Some of the world’s biggest internet messaging companies are hoping to succeed where cryptocurrency start-ups have failed by introducing mainstream consumers to the alternative world of digital coins. The internet outfits, including Facebook, Telegram and Signal, are planning to roll out new cryptocurrencies over the next year that are meant to allow users to send money to contacts on their messaging systems, like a Venmo or PayPal that can move across international borders. The most anticipated but secretive project is underway at Facebook. The company is working…

SMEs Digitization in Africa

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Fuji Xerox

Gartner, the global research and advisory firm, defines digitalisation as “the use of digital technologies to change a business model and provide new revenue and value-producing opportunities; the process of moving to a digital business”. Digital technologies include social technology platforms, Mobile, Cloud, Internet of Things, Artificial Intelligence, Analytics, Virtual Reality, and Blockchain, amongst others. All these technologies can be harnessed to introduce new digital business models by changing and enabling better internal processes, customer experience and operating models. Digitalisation can be a source of unapparelled competitive advantage when adopted…

Disruptive technology emerging markets in Africa could leverage to transform utilities

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The entire installed generation capacity of Africa’s 48 Sub-Saharan countries is just 68 gigawatts, no more than Spain; this is according to the Africa’s Infrastructure report conducted by the World Bank. Up to one-quarter of that capacity is unavailable because of aging plants and poor maintenance. In Sub-Saharan Africa, just one person in five has access to electricity. If current trends continue, fewer than 40% of Sub-Saharan African countries will reach universal access to electricity by 2050. Per capita consumption of electricity in Sub-Saharan Africa (excluding South Africa) averages only…

Distribution Is The Real Disruption, Mobile phones game-changing agri-tech in Africa

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Farmers

While emerging technologies like blockchain and artificial intelligence can capture our imagination, some of the most game-changing innovations for smallholder farmers are more modest. Seeds. Roads. Electricity. While such technologies may seem mundane, they are anything but. Reaching smallholder farmers in rural areas takes a nuanced combination of appropriate innovations, sophisticated distribution systems, and a human touch. One organization celebrated for its approach is One Acre Fund, a non-profit social enterprise working with 600,000 farmers in East Africa. I spoke with Ilana Kessler, Impact Ventures Growth Director, about scaling innovative approaches to help…

Fintech Will Contribute $150 Billion to Africa’s GDP by 2022

Dianne Jacobs

The contribution of the financial-technology industry to sub-Saharan Africa’s economic output will increase by at least $40 billion to $150 billion by 2022, according to Financial Sector Deepening Africa, a development-finance organization. The industry currently employs about 3 million people directly and indirectly in the region, FSD Africa Financial Markets Director Evans Osano said in an interview on Thursday. Sub-Saharan Africa’s gross domestic product is about $1.6 trillion, according to data compiled by the International Monetary Fund. “If you look at the value chain, most of that money is coming…

Bitcoin Sinks Below $6,000 as Almost Every Cryptocurrency face downfall

Bitcoin dropped below $6,000 and dozens of smaller digital tokens tumbled as this month’s selloff in cryptocurrencies showed few signs of letting up. The largest digital currency fell as much as 6.2 percent to $5,887 as of 3:07 p.m. in Hong Kong, the lowest level since June, according to Bloomberg composite pricing. Ether sank as much as 13 percent, while all but three of the 100 biggest cryptocurrencies tracked by Coinmarketcap.com recorded declines over the past 24 hours. The total market capitalization of virtual currencies dropped to $192 billion from…

Senegalese-Born Musician Akon To Launch Akoin Cryptocurrency

The American-based Senegalese artist says the cryptocurrency will be the currency of choice in Akon Crypto City, a 2,000-hectare development which is under construction in an area just outside Dakar, Senegal’s capital city. The rapper describes the development as the real-life Wakanda. He also believes the technology has benefits for those on African soil, disadvantaged by political and social circumstances. Unfortunately, Akon didn’t reveal any technical details of the cryptocurrency. CANNES — Senegal-born star Akon — whose Lighting Africa project is bringing solar power to Africa — is at Cannes…

UN CSTD: Next generation tech-preneurship will be led by Teenpreneurs, Bekele

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Start-ups need to stridently move from talking the blue-print to tangibles in the tech space and that next generation tech-preneurship will be led by #Teenpreneurs, who have it in their DNA . The 21st Commission on Science and Technology for Development  UNCSTD was held at the United Nations HQ, Palais des Nations, Geneva, from Monday, 14 May to Friday, 18 May 2018. Among the distinguished speakers sat in a high level panel included Sophia Bekele Founder & CEO of DotConnectAfrica who discussed the impact of rapid technological change on the…

Five African tech trends to watch in 2018

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Vivo

The BBC’s Clare Spencer picks five African tech trends to look out for in 2018. Land registry you can’t tamper with The idea: Documentation is often lacking in parts of Africa, leading to land disputes because it isn’t clear who owns the land. Even when there are records, sometimes they have been tampered with. A record that cannot be deleted, using something called blockchain, could be used to prevent these disputes. Blockchain is a method of recording data – a digital ledger of transactions, agreements, contracts – anything that needs…

Bitcoin loses over a fifth of its value in less than 24 hours

Bitcoin slid to as low as about Sh900,000 ($9,000) in volatile trade on Thursday, having lost more than a fifth of its value since hitting an all-time high of $11,395 on Wednesday. The cryptocurrency fell as much as eight per cent on Thursday on the Luxembourg-based Bitstamp exchange to hit about Sh900,000 ($9,000) exactly, marking a fall of well over $2,000 in under 24 hours. It then edged back up to trade at around Sh940,000 ($9,400) in the hour that followed, still down roughly 4 percent on the day. One…