Author: Cynthia Nwanonyiri

Crypto Valley Capital, also known as CV VC, revealed recently at the Blockchain Hub close to the World Economic Forum in Davos, Switzerland, that it is opening a fund focused on Africa to support blockchain businesses on the continent. Crypto Valley Capital announced in a press statement that the fund will invest in 100 African startups over the next four years. The investment capital has invested in 12 firms, according to the statement, where blockchain use cases go far beyond cryptocurrencies to propel Africa’s future to date. The fund’s purpose is to increase between $10 and $50 million, according to…

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As the name implies, a blockchain is a chain of blocks, but in this case, the “blocks” are digital data that is linked through encryption. Each of these blocks has a cryptographic hash function that links to the preceding block, as well as a timestamp and the block’s digital data. As a result, these blocks are constructed in such a way that it is extremely hard to change the data, ensuring openness while still retaining security. Note that blockchain is associated with security because altering these blocks is practically difficult, making this technology extremely prominent in industries such as banking,…

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Chainalysis, a blockchain data platform, has raised $170 million in Series F funding sponsored by GIC, Singapore’s sovereign wealth fund, valuing the company at $8.6 billion. Chainalysis said in a press statement that existing investors Accel, Blackstone, Dragoneer, and FundersClub have raised their stake in the firm, as well as the Bank of New York Mellon and Emergence Capital. In more than 70 countries, Chainalysis delivers data, software, services, and research to government agencies, exchanges, financial institutions, insurance, and cybersecurity firms. Their information fuels investigative, regulatory, and market intelligence software that, according to the company, has helped solve some of…

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Metatheory, a Web3 game business that integrates entertainment experiences with blockchain components, has announced that its Series A fundraising round has generated $24 million. Kevin Lin, the startup’s CEO and a co-founder of Twitch claimed that this is a chance to build high-quality games that include blockchain technology. VCs like a16z, which lead the funding round and actively invest in businesses like Mythical Games, Yield Guild Games, and Sky Mavis, the producers of Axie infinite, appear to find the Web3 game notion appealing. Pantera Capital and FTX Ventures, Breyer Capital, Merit Circle, Recharge Thematic Ventures, Dragonfly Capital Partners, Daedalus, Sfermion,…

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The benefit of blockchain is that it is not governed by power centers such as governments or large corporations. Blockchain users are the primary decision-makers for keeping the technology alive and well. Furthermore, it is significantly more advanced than a handwritten entry. It’s unbreakable. And, as consumers’ digital footprints get larger, the demand for an effective data keeper grows as well. Blockchain is the ideal solution for today’s data-intensive commercial world. Blockchain-as-a-service (BaaS) is the establishment and management of cloud-based networks by a third party for firms that develop blockchain applications. These third-party services are a recent development in the…

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The Central Bank of Nigeria (CBN) has repeatedly warned against cryptocurrency trading and instructed banks to shut accounts of individuals or businesses engaging in cryptocurrency transactions. In addition, numerous African countries have either banned or warned against crypto trading. However, top government officials, including central bankers and finance ministers, will gather in El Salvador for a meeting on the future of finance. According to El Salvador’s President, Nayib Bukele, the event will feature 32 Central Banks that will address the deployment of Bitcoin in his country as well as other information. Today, 32 central banks and 12 financial authorities (from…

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KuCoin, a Seychelles-based platform, claims to have raised $150 million from investors for another stage of growth and extension. This follows Mara’s $23 million investment to expand its bitcoin transaction services across Africa. According to the company’s press statement, the deal now values the company at more than $10 billion. For reference, this amount is almost equal to all of CEMAC and WAEMU’s cumulative foreign exchange reserves by the end of 2021. The company’s purpose is to allow the free flow of digital value around the world. KuCoin thinks that technological advancements will transform how people generate and distribute value.…

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The Terra blockchain has been halted due to concerns that the falling value of the LUNA token could result in a governance attack, or a network takeover. The protocol’s governance token is Terra ($LUNA), which has seen its value plummet by almost 99 percent in the last week. Holders of governance tokens can submit and vote on governance proposals relating to blockchain protocol upgrades. Nevertheless, if a hacker obtains control of more than half of a governance token’s supply, he might possibly change the protocol for the worst. Terra’s demise is partly owing to the destabilization of the $UST dollar…

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Tanzania’s central bank governor, Florens Luoga, claims that the country is making progress toward launching a central bank digital currency (CBDC). The CBDC is intended to fight the increased interest in privately issued cryptocurrencies once it is created, according to a report. During an interview, Louga stated that the Bank of Tanzania (BOT) is likewise preparing to introduce a CBDC since it cannot overlook the advancements in money technology. BOT’s digital currency, according to the governor, will provide consumers with a safer option for cryptocurrencies. He also stated that it is critical for the country to create a central bank…

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The Shiba inu Token project team provided some development work details on the Shibarium blockchain and stable coin. After Dogecoin, the Shiba Inu token is a prominent meme coin. This token was established in August 2020 without a use case, but it is currently possible to trade on a large number of crypto exchanges and to pay in Shiba Inu token through numerous crypto payment gateways, owing to BitPay and other crypto payment platforms’ technical support. The Shiba Inu token project team created a blog on May 10th in order to increase involvement among Shiba Inu token enthusiasts. SHI and…

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