Africa

The Tattoo Wine platform plans to  manage more than 5,000 Italian wine labels from Europe, Africa, America and Asia. The biggest blockchain-based e-commerce platform is trying to promote the value, source and validity of Italian wine production on Asian markets.

Another Ponzi scheme, dubbed Bitcoin Wallet, left investors with nothing, according to the Ladysmith Gazette. The investment scheme was one of the most lucrative projects in South Africa that saw many potential people, investors and companies willingly put their money in it, with the hope of acquiring abnormal returns in the shortest time possible.

The first quarter (Q1) of 2019 introduced several key legal updates concerning cryptocurrency taxation. Q1 has seen various countries such as Italy, United States (U.S), Japan, Denmark, Poland, Romania, Venezuela, Indonesia, South Africa, India, Chile and others, define tax treatment for cryptocurrencies including Bitcoin (BTC), the top virtual asset by market cap (MC), Ethereum (ETH) and Ripple (XRP).

The head of Iran’s Trade Promotion Organization (ITPO) has said that the country is in talks with senior representatives from 8 nations to begin transactions with its ‘IranCoin’ - the newly created State-backed digital currency, Crypto-Rial, according to Tehran Times, a local news outlet.

In a struggle that will change the face of blockchain development in the nation and the continent at large, the South African Reserve Bank (SARB) has softly left out digital currency developers from a tax incentive that is particularly aimed at technological innovation, according to a report by BusinessLive.

A lot of Blockchain technology and cryptoasset companies are massively setting up their offices and big projects in Africa. Several cryptocurrency fanciers are asking why African countries are the main target, not Europe, America or Asia which has a large number of potential investors. The reasons as to why this is happening like this are just simple and precise as follows:

The president of Tanzania, East Africa, John Pombe Magufuli is one of the world leaders trying to fight corruption from all government institutions. He made a surprise visit to the Ministry of Finance the first day he was sworn in as the president, that brought confidence in public towards the war against ‘cancer’ corruption.

Are Reserve Banks and Treasuries dodging the inclination of digital currencies? Crypto has gathered great momentum in the last few years and has now become a perilous, but very profitable, investment or trading alternative. South Africa has been delaying the regulation of cryptos and for a long time, their use has been totally unregulated.

The host of the Cryptocurrency Trader program on CNBC Africa, Ran Neuner, says that Coinbase, a giant digital currency exchange and wallet, is almost ready to announce its first Initial Public Offering (IPO), as per a tweet on Thursday, October 25, 2018.