Dash South Africa

Dash South Africa are writers, editors, activists and businessmen who blog about the Dash cryptocurrency for our teams across Africa… read more!

Dash South Africa

Dash South Africa News and Information

The Xperien Cycling Project

By | Dash Cycling, South Africa | One Comment

Xperien Cycling – Dash Cycling Africa:  Xperien is a Johannesburg enterprise specialised in the disposal and recycling of IT infrastructure, a very critical need of the modern world, particularly in Africa as much of the recycled equipment can be donated to under-privileged communities. A large group of core staff came together in a successful company cycling club which also functions as a mobile billboard for the company.

Being IT savvy some of the Xperien cyclists are enthusiastic about cryptocurrency and, knowing how Dash does business, they formulated a project whereby they transform the club from being an Xperien billboard to Dash-branded, with a commitment to participation in major cycling events on the continent. Of course, the major impact of branded cyclists is when they are on the road on club training runs, rather than being minor elements in the usual kaleidoscope of jersey-branding during a large event.

There can be no denying that cycling is a fast-growing sport in Africa, despite the general lack of suitable roads, and Africa hosts one of the largest participation events in the world, the Cape Town Cycle Tour, with a regular 35 000 cyclists on the road. The Tour might not exactly be a sporting marathon but it is a wildly popular event watched by many thousands on the roads, apart from the TV audience.

Dash Africa can only wish the Xperien club much luck with its Dash proposal and hope that they have not been over-ambitious but, as they say in sport, “no guts, no glory”!

The Big Bang and Other Theories!

By | South Africa, Tom | No Comments

Big Bang – The past year will become known as the year in which cryptocurrencies damn near exploded or, at least, came into the public domain in a big way. Not only did the number of coin brands increase significantly but Dash gained an apparently sustained growth of around 10 000% in terms of USD while Bitcoin, as the market leader, grew by approximately 2000%.  The year-end has seen Wall Street’s approval of the blockchain as an effective and efficient management tool, as well as the arrival of the first crypto futures market: crypto is finally entering mainstream rather than being an instrument of esoteric investment.

Whether 2017 was itself the Big Bang or merely the onset of a super nova event remains to be seen, but the indications are that the financial institutions can no longer ignore the investment potential of cryptocurrencies. While many of the financial pundits continue to talk down crypto, variously as wild speculation, a bubble, or as a Ponzi scheme, a few respected commentators are warning that the world only ignores crypto at its own peril, with total market capitalisation exceeding the GDP of some significant countries. Dawie Roodt, of S. Africa’s Efficiency Group, recently warned that the banks appear to follow the crowd of non-believers and that crypto in general is now too large to ignore while, at least, the leading brands provide examples of solid fiscal management.

This is against the backdrop of the stupendous meltdown of Steinhoff International, a massive retail conglomerate created out of S. Africa: as a result of apparent fraudulent manipulations, the enterprise lost around 90% of its stock market value in a couple of days, taking with it a significant chunk of value from supposedly inviolable national pension funds. At no time has any of the leading cryptocurrencies performed in such a manner as the opportunity for misleading the investor does not exist. What you see is what you get and the value of investment is only governed by supply and demand.

Another backdrop slowly descending onto the stage is that of the Chinese already having a youth culture in which payments are made by cellphones/mobiles, thus bypassing the banking system which is reliant on simple cash flow “over the counter” for profitability. Roodt’s warning on the banks’ ignoring of growth in crypto then becomes all the more significant, with increasing amounts of investment also bypassing the banks to go into crypto. Banks then become increasingly redundant as they provide declining service to fewer customers, thus they will logically fold, collapsing into whence they came not too long ago: bankruptcy will return to its original meaning!

However, the most resounding echoes of the Big Bang concern the inherent privacy of dealings in crypto. No transaction in Dash, for example, is visible to the tax authorities of any country which means that, eventually, as fiat currencies disappear, there will be no tax collection. The logical implication of zero taxes is the inability of any government to govern as it could pay for nothing. It’s all very well not having money to pay for armed forces but public infrastructure becomes unsupportable. Maybe that is another problem for another day: in the meantime, we should sit back, invest in Dash, and watch the universal fireworks display. Are there any seats left at the Restaurant at the End of the Universe?

Tom Rogers

(with apologies to Chuck Lorré and Douglas Adams)

DASH Cycling Africa

By | Dash Cycling, South Africa | No Comments

Who are DASH Cycling Africa?

Xperien Team Cycling started out as a company cycling team at Xperien (PTY) Ltd based in Johannesburg, South Africa. Xperien is a secure IT asset disposal company established in 1999.  In the high pressure IT environment where everyone is always busy, cycling was a way for colleagues to release stress and bond. Since 2014 the community has grown to consist of 30 riders and a few cheerleaders which include family, clients, customers and friends.

What We Do

We participate in major race marathons all around South Africa. This keeps us physically fit and mentally agile, essential tools for an uncertain and volatile times, it also promotes a better work life balance.

Most of our community are successful professionals with great careers, and love the community spirit of cycling and giving back through corporate social responsibility.  See our Facebook site for the many events we have held for orphanages and schools.

Our Vision

To make “sending money home” easy and cost effective.  Sending money home or cash remittances is native to Africans as it underpins rural development where governments cannot reach, there is a huge migrant workforce that sends money back to these  their families and loved ones in the villages and remote communities. The remittances can sometime mean basic survival also promotes self-help and entrepreneurship.

The problem

However sending money can be very costly, time consuming or near impossible as it is often thwart with regulatory restriction for cross boarder remittance, to the scourge of high fees and greedy institutions that swallow significant percentages of these hard earned wages.  There is also hand to hand transfers where you may need to trust that bus driver at the station to complete your funds transfer and hope he doesn’t get robbed along the journey. We have shoppers hiding bundles of US Dollars in their underpants to avoid being ripped off at the border.

The Solution

Promoting DASH as a preferred means of cash remittances and build an exchange network that will service the rural villages.

African Potential  

We aim to make DASH the preferred currency for Africa’s Mobile Money from where it is currently at 3rd most popular cryptocurrency.

Most Africans are unbanked but there are over 277.4 million Mobile Money accounts (GMSA 2016).

These accounts are widely used for Migrant cash remittances a $34 billion USD market in 2017 according to the World Bank (see infographic below).

The fragment mobile money market consists of over 210 Fintech companies and represents phenomenal potential for market penetration and a wider adoption of DASH.

Africa has long adopted digital payments systems due to lack of infrastructure. A handful of mobile money payment operates currently enjoy a lucrative market i.e. MPesa mobile money send / receive or exchange cash via small local shop have 19 million active user per day, FNB has 5 million ewallet , Zimbabwe has no official fiat currency and bitcoin is trading at double the market rate ($17,875  – November 2017 ) and there is also a bank vs telco war for over 60 million potential mobile money users mobile, this myriad of systems shows the potential for the adopt of a crypto currency.

These systems are cumbersome when used for cross board remittances, most African states have exchange controls that slow transaction times if at all possible.

DASH CYCLING AFRICA

Being users of DASH as a company and falling in love with all things DASH, we wanted to combine it with our love for cycling. We want to be the DASH Cycling Africa TEAM. Our goal is to take Dash from being the third most popular crypto currency in South Africa to number 1 and then go on to promote it to other African countries. We already have a permanent team of 30 cyclists that compete in cycling events all over South Africa. We propose not only to brand them Team DASH Cycling Africa but to hold activations in South Africa with every event. We want to use these opportunities to START the conversation about Dash with QUALIFIED prospects. We have events planned from February 2018 to November 2018.

We strongly believe that DASH has a market here in Africa and all that is missing is awareness (awareness of product and use), education (most people are clueless in terms of crypto-currencies), branding (people need to see the brand in Africa, seeing in most cases is believing) and activation (people want someone present and in front of them to help them navigate this new world)

WE PROPOSE

To rebrand our cycling team DASH CYCLING AFRICA TEAM and promote adoption to 5 million people.  Feel free to have a look at our pre-proposal on the Dash forum. Let us know what you think, comments and suggestions are welcome.

https://www.dash.org/forum/threads/dash-cycling-africa.20142/#post-153491

Your support is greatly appreciated ☺

Down the Rabbit Hole

By | Tom | No Comments

We seem to live in an era in which the future is only bounded by our imaginations. The illusory rabbit hole was created by Lewis Carroll who was reputed to have a predilection for hallucinatory substances to expand his thought processes. And Carroll’s rabbit much later achieved infamy courtesy of an unforgettable note sung by Grace Slick, formerly of The Great Society which eventually morphed into Starship: Grace never revealed what substance was used to induce the incredible note! Whatever, we would prefer to trip into an imaginary world without pharmaceutical assistance.

Our trip starts with the very sober and real world of Dash Africa which promotes cryptocurrency into the African continent. That promotion is premised on Africa generally being ignorant of the implications of adopting crypto, either as a saving/investment vehicle or as a means of day-to-day transacting. However, no matter how attractive, the latter is simply implausible without a significant supply of currency in circulation.

It would appear that the only means of achieving crypto circulation is to first gain its uptake for saving/investment by established “institutions” which, periodically, must disinvest, to one extent or another, in order to distribute profit to their members. Unfortunately, that profit only exists in one fiat or another. The upside is that the disinvestment facilitates the entry of new players into the crypto universe by buying up the divested funds. Then our problem is that those players again retain funds rather than use them to buy goods and services from crypto-enabled vendors, still rather rare animals.

The route to the rabbit hole would, thus, appear to be dominated by a need to persuade of the power of investment in Bitcoin and its peers, irrespective of brand or “fork”. The troublesome aspect is that the investment only has potency by virtue of its exponential increase in value in terms of fiat, while the ultimate aim must be to supplant fiat, and everything that rides with it.

And so the rabbit hole comes into view, the point at which crypto is no longer solely an investment but a principal means of transacting, replacing the mega tons of paper fiat which only have value by way of enormous leaps of faith and/or lack of a credible alternative. At that time the “value” of a Bitcoin will be measured in millions of any fiat which will have become pretty much meaningless relative to the collective financial power of cryptocurrency.

As we dive into our rabbit hole another world appears, one which is no longer controlled by the banking fraternity, stock markets, and the unending demand for “economic” growth. Central governments, as we know them, disappear as they can no longer rely on taxation for financing of many useless pursuits, such as making war, providing aid to unsustainable populations, and featherbedding the criminal community. Of course, the banking industry, and everything dependent on it, also does a vanishing act: that involves an enormous slice of the world’s so-called economy, and it calls into clear focus the sustainability of the world’s population, irrespective of its rapacious consumption of the planet on which it lives.

The world’s wealth, and the sustainable means of increasing it, becomes concentrated in the hands of the relatively few financial free-thinkers who no longer believe in the traditional regime of servitude to thoroughly corrupted politicians and bankers. The free-thinkers can hardly do worse than the luminaries who participated in Madoff’s outrageous Ponzi scheme. And the Mad Hatter was probably a better bet than the Queen of Hearts!