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Interswitch group, a pan-African payment processing and lead financial services company had on Friday 2nd November held an event in Lagos, Nigeria to unveil the first blockchain-enabled supply chain financing application. The blockchain (supply chain module) project has Microsoft as its major partner and utilizes the Microsoft Azure Cloud Blockhain service. The event had in attendance, other supporting companies and Nigerian banks; including the Dangote Group, United Bank of Africa (UBA), Zenith Bank PLC and…

For users looking to buy Ethereum in Nigeria, NairaEx remains the premier service. Allowing users to sell and buy Ethereum, simply following the steps below will allow you to invest in one of the biggest crypto markets on the planet ! 1) Firstly you must register with your local crypto exchange. Currently in Nigeria, NairaEx remains the most competitive and efficient platform to purchase Ethereum. Simply using your name and email address you can create…

It was reported recently that BitKoex, a Korean crypto exchange platform, accidentally leaked well over $650,000 worth of private key data in a group chat on the KakaoTalk platform. For reasons still not known, one employee from the exchange accidentally posted the private key to user wallets in the group chat. The private keys essentially give unrestricted access for users to completely take over a wallet/address. The fact these details were released on KakaoTalk has…

The Nigerian senate has announced the latest round of research which will begin to unravel the potential benefits and practical applications of Bitcoin. The research and findings will be due before the senate within 2 weeks as deliberations carry on regarding the future of bitcoin as a financial tool in the country. “bitcoin is not recognized by the Central Bank of Nigeria, does not exist in any tangible form and is also not subject to…

What is Bitcoin ? Bitcoin is a currency developed by Satoshi Nakamoto in 2009. Developed to be decentralized and uncensored, Bitcoin remains free from the clutches of any government or central entity. While this has led to countries considering it as a threat to their own banking systems, the sheer freedom Bitcoin users experience regarding cost of transactions and speed, control over one’s finances has never been greater. There are 2 main platforms used to…

Bitcoin prices have dropped dramatically over the past 24 hours dipping well below the $7000 support level to current figures of $6188 across a number of exchanges. As seen on graphs below, prices have been dropping sharply as the bulk of investors find Segwit tokens are a thing of the past. While Bitcoin has faced the brunt of the force, the majority of cryptocoins’ including Litecoin and Ethereum have all grown with Bitcoincash becoming the…

Bitcoin prices peaked at $7439 on the 3rd of November inching closer to the $7500 point. However for many the possibility of reaching $10000 by the end of the year has been rekindled following the unusual stability of bitcoin markets and developments in bitcoin futures trading with potential to develop into a full blown Bitcoin ETF. With exchanges such as CME planning on launching a bitcoin futures exchange, trading will be opened to a entirely…

Exchanges such as CEX.io have geared up for the potential hardfork which may come in the form of Segwit. The exchange predicts the hardfork may occur on the 18th of November but has sent out assurances to its members that their balances will remain secure on the exchange. Holders of bitcoin will receive the same amounts of Segwit2x tokens as bitcoins held in their balance on the CEX exchange. Cex.io remains one of the few…

Over recent years, Bitcoin has become more and more popular in Nigeria. Considering that the Central Bank of Nigeria has banned the use of bitcoin in the past, it’s surprising that they are now exploring options for legalising bitcoin use in Nigeria. A study group has even been created to weigh the advantages of adopting bitcoin. Bitcoin offers a new financial freedom for people in Nigeria. For instance, Nigerians can enjoy access to a global…

The NDIC, Nigeria Deposit Insurance corporation, has announced to civilians its stance on cryptocoin transactions. While the corporation provides the bulk of insurance services for fiat banking institutions, cryptocoin transactions will not be covered as the company warned users all risk will fall on the parties involved. The announcement was made at the 12th Abuja International Trade Fair as a warning to companies and individuals alike. The managing director of the firm further emphasized that…