Zimbabwe

Building Africa's Cryptocurrency Infrastructure

About Dash Africa in Zimbabwe

The future of money for Africa/Zimbabwe: Kuvacash VP of Finance & Tech Drako Interview

By | #Kuvacash, Kuvacash, Zimbabwe | No Comments

Future of money for Africa/Zimbabwe:  This is the latest Kuvacash Interview, with VP of Finance & Tech Drako:

Kuvacash is solving the significant problems posed by hyperinflation in Zimbabwe with a new USD to Dash mobile wallet system and agent network on the ground. Voted for by the Dash Masternodes and funded by the Dash Treasury, this is the most exciting and promising real world problem that is being solved by cryptocurrency and new business models. Drako, director of Kuvacash talks about their progress so far and what 2018 holds Kuvacash as they start running their beta testing. Is this the future of money?  For more info check them out at www.kuvacash.com.

Kuvacash proposes to launch a Dash-based cryptocurrency service in Zimbabwe, to allow individuals and businesses an easier way to trade while addressing the current cash crisis. Following this, we intend to expand Kuvacash to the wider African continent as an inexpensive and convenient digital-cash service for day-to-day trading and payments.

Dash Africa  ∙  Kuvacash Blog  ∙  Kuvacash Website

The Governance Issue – Bitcoin in Zimbabwe

By | South Africa, Tom, Zimbabwe | No Comments

Zimbabwe

Governance is the hot topic in Africa, the continent of never-ending coups and presidents for life, that is until life comes to a sticky end as the victim of the next coup. The long-suffering Zimbabweans have had enough of a nightmarish future featuring a Mugabe dynasty and effectively deposed the dictator before his wife could grab the reins of power. At least, so far, the military coup has been without any loss of life and a semblance of civility continues, to what eventual end no one can guess.

In observing the Zimbabwean shenanigans it could not escape notice that some of our wealthier cousins north of the Limpopo (Kipling’sgreat grey-green greasy”) river immediately ran for financial cover when the army appeared on the streets of Harare. This meant going online to their cryptocurrency exchange and buying Bitcoin in large amounts, to the extent that the local value of Bitcoin increased to more than double its global value in USD.

Value

It’s a reasonable question as to why the local “value” of an internationally traded commodity should exceed the going price by such a margin. One can only assume that the exchange found itself short of supply of Bitcoin while demand continued to rise, and the basic law or markets governed while the exchange couldn’t complain about massive profit margins. If nothing else, it’s a salutary lesson in the outcomes of panic as, once the dust settles, the purchasers of high-priced Bitcoin would find themselves holding an asset valued at the much lower global price, that is unless they have the patience to let the general value trend catch up.

Governance

All that brings us to the matter of Bitcoin’s own governance, in which a major difference of opinion caused the “fork” of the currency into the parent and Bitcoin Cash, with the original Bitcoin presently trading at over $7000 and Bitcoin Cash at around $1200, Since then another “fork” has occurred and Bitcoin Gold has appeared. All this revolved around Bitcoin’s speed of transaction, relatively slow and throttled by the capacity of the block in Bitcoin’s block chain. The latest instability in Bitcoin’s governance caused a major loss in value, which translated into a healthy rise in the value of Dash.

Meanwhile, from the safety of the sidelines, the Dash community observed Bitcoin’s internal struggles and was determined that the same would not happen to Dash. Using its consensual governance, a major project was launched to upgrade the Dash block chain’s software to prevent the Bitcoin phenomenon affecting Dash. This was promptly implemented and the stability of Dash was ensured for the foreseeable future.

Our point is that healthy governance is the core to any successful undertaking, irrespective of whether a country or a cryptocurrency. Since its outset Dash has had democracy as the foundation of its community and is governed by consensus as far as that is practicable; so far, the “fork” remains in the domain of those who cannot achieve communal agreement. Maybe, the next time a coup threatens, the Zimbabweans will buy Dash instead, better still, be invested in it as a way of life.

Tom’s Blog  ∙  Zimbabwe  ∙  Dash South Africa  ∙  About

Golix in Zimbabwe

By | Zimbabwe | No Comments

Hey there,

We’re thrilled to have you as an integral part of our vision and today we’re excited to let you know that we’re moving into the future and changing our brand from BitFinance to Golix.

We started BitFinance in December 2014 to make it super easy for Zimbabweans to use bitcoin. For a country that had so many ‘monetary problems’, we strongly believed that bitcoin was going to make our people’s lives significantly better, because it gave them financial autonomy.  We were right, and we chose our brand names (BitFinance and BitcoinFundi) to position ourselves as a bitcoin company.

It became clear to us that in the future, bitcoin will not be the only digital currency that succeeds. A few months ago, we started investing in other digital currencies and have seen that it works, so we are doubling down.

Today is a remarkable day for us, and most importantly you our customers. It marks the completion of our transition from being ‘just a bitcoin company’ to being ‘a digital currency company’. And so from today onwards, we shall be known as Golix.

Gloix Logo

Please, take some time to get acquainted with our new look, and note that future emails and communications will no longer have the name Bitfinance.

We look forward to having you as part of this exciting future.

Best Regards,
The Golix Team

Zimbabwean Cryptocurrency Exchange BitcoinFundi Adds Dash Trading Pairs

By | Zimbabwe | No Comments
Zimbabwean Cryptocurrency Exchange BitcoinFundi Adds Dash Trading Pairs

Posted by | Jul 31, 2017

BitcoinFundi has added Dash trading pairs, making it the second African exchange to support Dash.

Zimbabwe-based cryptocurrency exchange BitcoinFundi recently expanded on its Bitcoin offerings to include other coins. There is now a Dash/USD trading pair, allowing users to buy Dash with US dollars, a widely-used currency in Zimbabwe. BitcoinFundi also added Litecoin support and a LTC/USD trading pair.

Dash’s growing support in Africa

This addition is part of a slowly but surely growing Dash presence in Africa. Earlier this month, AltCoinTrader, based in South Africa, also added Dash trading pairs. This means that Dash-supporting exchanges have a presence in both South Africa and Zimbabwe.

Beyond Dash, cryptocurrency interest is rapidly growing across Africa. LocalBitcoins trading volume in South Africa is a bit lackluster, but trading in Kenya, Tanzania, and Nigeria has seen rapid growth.

Dash’s growth in areas with financial crises

While most of Dash’s trading volume comes from Asia (South Korean in particular) and the first world at large, it continues to make inroads in areas of the world that are struggling with their own financial issues. CryptoBuyer an exchange based in Venezuela, also added Dash this spring. Interest in Bitcoin in Venezuela has also been on a sharp rise, with LocalBitcoins recording a constant increase and a recent spike in local peer-to-peer buying.

Countries with unstable currencies due to government mismanagement and destructive central banking policies are prime areas for new cryptocurrency users, as residents seek ways of being able to hold the value of their labor long-term. Where most fiat currencies tend to go down in value over time, cryptocurrency as a whole, and Dash in particular, have seen incredible growth. Additionally, offering a payment system and transfer of value with low fees and barriers to entry can work wonders to lift the third world out of poverty.