Autor Cointelegraph By Ezra Reguerra

Ghana set to catch up to Nigeria and Kenya in terms of crypto adoption: Chainalysis

Ghana set to catch up to Nigeria and Kenya in terms of crypto adoption: Chainalysis

Uverejnil používateľ | sep 29, 2022 |

As emerging markets take the lead in crypto adoption, Ghana, a country located in West Africa, may soon catch up to other African countries regarding cryptocurrency use. In a report released by blockchain analytics platform Chainalysis, researchers found that Ghana has the potential to achieve crypto adoption levels similar to Kenya and Nigeria, countries which ranked 11th and 19th in the analytics firm’s global crypto adoption index. According to Ray Youssef, the CEO of P2P platform Paxful, the local population’s needs along with the current growth trends in Ghana show that it has the potential to become a leader in crypto adoption in Africa. Youssef said that in the last year, the total trading volume coming from Ghana in their P2P exchange has grown by 400% in the last two years. The executive also believes that many Nigerians consider Ghana as their home during the summer and are educating Ghanaians on Bitcoin (BTC) and crypto. Chainalysis also mentioned that the insights provided by Youssef align with their data on Ghana. The analytics firm added that apart from Ghana, other countries in Sub-Saharan Africa are expected to have higher levels of crypto usage as a lot of residents continue to face issues that crypto can solve for them. Related: Following the signs: How crypto stickers led to a new career opportunityIn a recent interview with Cointelegraph at the Africa Money & DeFi Summit, Kwame Oppong, an executive at the Bank of Ghana shared that the country is testing and preparing for a central bank digital currency (CBDC). According to Oppong, the reason behind their pursuit of a CBDC is to foster financial inclusion within the country. The executive believes that there is a lot of potential for crypto use in the country as it gives a lot of benefits to its people.

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Ethereum Merge was 'executed flawlessly,' says Starkware co-founder

Ethereum Merge was 'executed flawlessly,' says Starkware co-founder

Uverejnil používateľ | sep 29, 2022 |

As the dust settled over the Ethereum network’s highly-anticipated transition to proof-of-stake (PoS), Eli Ben-Sasson, the co-founder of Starkware, gave his thoughts on its execution and potential for the future.Speaking to Cointelegraph’s Gareth Jenkinson at the Token2049 event, Ben-Sasson shared his thoughts on the current situation post-Merge and how it affects layer-2 projects like Starkware. In addition to that, the executive also gave his thoughts on the adoption and interest for layer-2 products and the crypto winter. Looking back at the Ethereum Merge’s execution, Ben-Sasson rejoiced that the transition was flawless and said things happened as they should. The executive explained that: “The most important thing is that it was executed flawlessly. Everything that was supposed to happen did happen. And none of the things that people were worried about did happen. And that’s terrific news.”Additionally, the executive also highlighted the importance of the new Ethereum network being better for the environment. “It reduces the carbon footprint. That’s the big thing, and it also bodes very well for the potential of future improvements,” he said. According to Ben-Sasson, the Merge also makes Ethereum a better settlement layer and a more friendly platform for layer-2 solutions. The executive highlighted that this is a very important development for their products at Starkware as they could then offer scaling, compression of computation and other improvements that their technology can deliver. Related: China GPU prices drop to new lows after the Ethereum MergeApart from the Ethereum Merge, Ben-Sasson also shared that most of the adoption and interest in Starkware solutions are with projects that were also successful in the layer-1 Ethereum. This includes nonfungible tokens (NFTs), blockchain gaming and decentralized finance (DeFi). In addition to that, the executive shared his expectations for the future. He said that: “I expect that at some point, the ability to run much more massive computation with very low gas footprint will lead to completely new and unforeseen applications that are going to be far more important.”With everything that’s happening, the executive also shared his belief that despite many people describing the crypto and blockchain space’s current situation as a crypto winter, their team feels different. “We feel it as spring towards the balmy summer,” he said. 

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Walmart dives into the Metaverse: Nifty Newsletter, Sept 21-27

Walmart dives into the Metaverse: Nifty Newsletter, Sept 21-27

Uverejnil používateľ | sep 28, 2022 |

In this week’s newsletter, read about how UNICEF is using nonfungible tokens (NFTs) to help connect schools to the internet and how post offices are able to revive the philately sector through NFTs. Check out how an NFT gaming project lets many aspects of its game be customizable and sold as NFT packs. In other news, Animoca Brands co-founder Yat Siu spoke with Cointelegraph and shared his thoughts about Asia’s perception of NFTs. And, don’t forget this week’s Nifty News featuring Walmart’s entry to the Metaverse. UNICEF Giga NFTs to connect schools in developing countries to internetHumanitarian aid organization UNICEF has utilized NFTs as a means of raising funds to help with its mission of providing internet access to schools located in developing regions all over the world. Through its Giga initiative, it aims to help 1.1 million schools across 49 countries.In a Cointelegraph interview at the Blockchain Expo in Amsterdam, Giga blockchain product manager Gerben Kijne mentioned that their NFT fundraising initiative attracted both UNICEF supporters who had bought NFTs for the first time and NFT collectors who wanted to get the NFTs because it was made by UNICEF.Continue reading…Post offices adopting NFTs leads to a philately renaissanceEuropean post offices utilized NFT popularity to jumpstart the philately sector, an area focusing on the study of postage stamps. PostAG philately head Patricia Liebermann and PostNL product manager Sacha Van Hoorn are leading the charge. Speaking to Cointelegraph at the Blockchain Expo in Amsterdam, Liebermann said that they combined NFTs with physical stamps and got overwhelming feedback. According to Liebermann, they started exploring NFT postage stamps in 2019 and determined that there is a market out there who are interested in this new way of collecting. Continue reading…NFTs bring in-game ownership to a new level, says Blokhaus founderGaming is a very popular use case for NFTs. There have been many NFT gaming projects flooding the Web3 space. Despite this, one project wants to surpass the competition by making every component of its game NFTs customizable. In an interview with Cointelegraph, Blokhaus Inc. founder Mark Soares gave a description of how their project aims to reach gamers. According to the executive, they allow the creation of their own characters within their own scenes, and these can be sold as NFT packs to other gamers. Continue reading…Yat Siu: Asia GameFi opportunity huge as gamers don’t hate NFTsYat Siu, the co-founder of Animoca Brands, spoke with Cointelegraph at the Asia Crypto Week and argued that the Asian region presents a lot of opportunities for GameFi projects. The executive highlighted that Asia is very welcoming to NFTs compared to other regions and has the potential to lead the blockchain gaming space.Siu mentioned that western gaming companies usually deal with consumer resistance when it comes to NFTs. However, in Asia, the executive noted that this did not happen and cited the differences in Asians’ perception of capitalism. Continue reading…Nifty News: Walmart steps into the Metaverse, @NFT founder hacked and moreRetail giant Walmart has dived into the Metaverse by launching its Walmart Land and Walmart’s Universe of Play on the online game Roblox. Meanwhile, the owner of the banned handle @NFT has claimed to have lost $1 million in Ether (ETH) and NFTs after an exploit. Continue reading…Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.

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Cointelegraph Store introduces Halloween Crypto Monsters merch

Cointelegraph Store introduces Halloween Crypto Monsters merch

Uverejnil používateľ | sep 28, 2022 |

From all-time highs to massive price dips, the crypto market can be tricky to navigate, which is why traders need cool merchandise that can get them all the treats this Halloween. Cointelegraph is here to assist and has dropped a Halloween collection to help hodlers express their belief in the industry’s bright future when it’s time to go trick-or-treating.Inspired by blockchain, proof-of-stake and the crypto community’s popular “to the moon” catchphrase, the Cointelegraph Store created a new collection to celebrate this year’s Halloween. The Crypto Monsters Halloween Collection features t-shirts, hoodies and mugs with various crypto-inspired designs.Crypto Monsters TeesCelebrate the season with Cointelegraph’s new t-shirt designs now available in the store, featuring the Blockchained Frankenstein’s Monster Tee, To the Moon Werewolf Tee and Proof of Stake Vampire Tee. The designs are perfect for making a crypto-themed statement during your next spooky encounter.Give your friends a scare this Halloween with Cointelegraph’s Crypto Monsters Tees!Halloween-themed t-shirts.Crypto Monsters HoodiesKeep warm from the cold winds of crypto winter with Cointelegraph’s Halloween hoodies. We made them extra soft and cozy to comfort hodlers as they experience sadness while looking at their portfolios during the bear market. The sweatshirts are available in three designs: To the Moon Werewolf Hoodie, Proof of Stake Vampire Hoodie and Blockchained Frankenstein’s Monster Hoodie.Halloween-themed hoodies.Crypto Monsters MugsFor crypto community members in the United States, Cointelegraph created mugs to celebrate Halloween. You can drink like a vampire with the Proof of Stake Vampire Mug, howl at the moon with the To the Moon Werewolf Mug, and feel alive as you sip your coffee with the Blockchained Frankenstein’s Monster Mug.Beware: Crypto Monsters Mugs are only available in the United States!Halloween-themed mugs.Enjoy your Halloween with Cointelegraph’s Crypto Monsters merchandise. Get some spooky swag for you or your friends to show your crypto spirit this fall. 

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Bank of Ghana to foster financial inclusion through CBDC project

Bank of Ghana to foster financial inclusion through CBDC project

Uverejnil používateľ | sep 28, 2022 |

As more countries make progress in terms of developing and implementing central bank digital currencies (CBDCs), Ghana’s central bank aims to keep up and complete its research on CBDCs with the goal of financial inclusion, according to Kwame Oppong, the head of fintech and innovation at the Bank of Ghana.In an interview with Cointelegraph’s Elisha Owusu Akyaw at the Africa Money & DeFi Summit, Oppong laid out the reason behind the West African country’s venture into CBDCs. According to the government official, their main goal at the moment is to finish testing and eventually give their citizens the opportunity to use a “decent form of payment.” He explained that: “I think in terms of CBDC, our goal is to be able to finish testing it. We’ve seen the results. We’re going to look at the study each and every time in the future. But our real reason for doing it is more financial inclusion.” The official said that in the offline pilots of their “E-Cedi,” Ghana’s CBDC, at a town called Sefwi Asafo, participants were able to buy products and services from merchants in all kinds of places without any internet connectivity. Oppong believes that another benefit of a CBDC is having the data generated by the participants. The fintech executive explained that this data can help people become eligible for loans if they provide the information to banks. Oppong also highlighted the potential cost savings if a CBDC is implemented in the country. He said that when CBDCs are implemented, there is a lot of potential in terms of cost reduction because of its instant settlement feature. Despite the potential benefits of CBDC, the central bank official reiterated that the world is still at the stage where various entities are trying to determine its pros and cons. “I think as a society, we need to determine whether it’s useful for us or not,” he said.Hello Accra ! Cointelegraph is at the @AfricaMoneyDefi Summit! Say Hi, to our social media specialist @ghcryptoguy when you see someone in a Cointelegraph t-shirt . #AMDSGH #AfricaFintech pic.twitter.com/49pZcezKLx— Cointelegraph (@Cointelegraph) September 27, 2022During a panel discussion titled “Stablecoin, Crypto & CBDC, Risks and Opportunities for Ghana,” Oppong also discussed the importance of stablecoins. He noted that in terms of cross-border transactions, stablecoins can play a very important role in finance. Apart from this, the executive highlighted that one of the most attractive things in crypto is the simplicity of its user experience. He noted that many entities have started to see the significance of studying the blockchain and implementing its use cases. Related: Russia aims to use CBDC for international settlements with China: ReportWhile there are supporters of CBDCs, there are also those who believe that they are not truly good for the people. The Bitcoin Policy Institute, a think tank based in the United States, recently argued that Bitcoin (BTC) and stablecoins are better alternatives to CBDCs.

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