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Africans: Separating The OneCoin And The Scamcoins Right From The Bitcoin…

A number of the Bitcoin enthusiast in Africa have commented that the African authorities must need to fully distinguish the difference between the OneCoin and the Bitcoin, as well as the other cryptocurrencies, fairly than always indicating them all together when sending out a notice to the public for a warning.

Their comments have come to the awakening of the Bank of Uganda regarding its recent media campaign; upon giving a notice to the public of a warning against investing in the OneCoin. As a parallel with the one that is issued by the Central Bank of Nigeria, and coming from the Uganda’s top bank statement which refers to the OneCoin entity as not being under the license of the Financial Institutions Act 2004 which pertains upon operating right in the outskirts of any regulatory purview. And the fact that it also states that whoever is investing in the cryptocurrency such as the OneCoin, Bitcoin, Ripple, PeerCoin, NameCoin, DogeCoin, Litecoin, ByteCoin, PrimeCoin, BlackCoin and any other coins is taking risks in the financial space where there is neither investor security nor regulatory purview.

The insiders acknowledged that the Bitcoin truly stands out the most and also differently upon problem-solving use cases and must be also rendered as such relatively than being set aside together with the others while their main purposes are not renowned. A Bitcoin entrepreneur and cryptocurrency educator in Nairobi Kagwiria Mworia has mentioned that with a succinct and a little bit more of research and study, the Bank of Uganda and all of the other various government officials criticizing and tearing the Bitcoin apart will prove that the OneCoin really does not produce any single value and the fact that it is only a platform that transfers wealth from the people at the very bottom of the pyramid to the people of the pyramid. And she refers to that there has been not a single cryptocurrency exchange that she is aware of that is trading OneCoin, and this is a big red flag! She also continues that the Bitcoin, on the other hand, quite listed as a currency and it also serves as a payment system where every single transaction that is done are all listed in the encryption on a public ledger payment system which is the Blockchain that has been designed to be decentralized for any single body to view at any time and any place. The decentralization is a big and real deal as it allows all of the people to establish new Bitcoin services and exchanges.

All the way through numerous African countries that have to notice the digital currency-related initiatives spiraling up, Uganda has been flaunted to be a probable very first African country to regulate digital currencies. And in a report that has been released in the last year’s month of November, illustrates that the United Nations African Institute for the Prevention of Crime and the Treatment of the Offenders has held its very first roundtable discussion in the country where the issues that are associated to the regulation of the digital currencies were being talked about. And as an outcome of the said discussion, there are now probable plans and initiatives to develop instructive guidance which tackles by the principles that would be able enough to disseminate information through academic research and studies, scholarships and also data from the financial regulators.


Plus the fact that the Founder of the BitcoinNow in Lagos, Davidson Atere-Roberts believes that the African government fully needs to conduct a further research and study to draw precise conclusion regarding the OneCoin and the Bitcoin which the European countries have done in the past few years just to be able to gather a distinct information regarding to its subject. He also cites that the digital currencies’ role in Asia where the Bitcoin is disrupting the remittance market in the countries such as Japan, South Korea and also the Philippines are at the sophisticated stages of legalizing the Bitcoin. And China is also working together with the local Bitcoin community by establishing a regulatory framework. And for him, all of these particular actions are in contrast to the OneCoin and they clearly distinguish it from the Blockchain-pioneering Bitcoin technology.

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A Government-Backed Blockchain Consortium Was Launched In Switzerland!

A government-backed Blockchain consortium which is the Crypto Valley Association has launched in Zug, Switzerland with the goal of supporting the development of the Blockchain and the cryptographic associated technologies and businesses.

The Crypto Valley Association under the leadership of the former UBS Group CIO Oliver Bussmann includes such prestigious members as the PwC and Thomson Reuters, as well as a plethora of the disruptive FinTech startups like the ConsenSys.

An accompanying press release claims that the association will be supporting startups and also established enterprises as well all the through the policy recommendations; and therefore initiating and enabling research and study projects; they will be also organizing conferences and hackathons and any other industry events at the same time.

And the Blockchain and the cryptographic related technologies and businesses are the new set of waves right in the near and upcoming future. And together with the founding of the Crypto Valley Association they are promoting more than a region or a portion; consequently they have founded a worldwide association as a foundation for the sector’s most innovative and forward thinking companies and businesses supplementary strengthening Switzerland’s status as a principal heart of innovation in this sector.

The said launch continues Switzerland’s and also in particularly Zug’s ever forward and escalating tradition of being a heart for the innovative financial technology. As of last year the Canton’s administration has moved to allocate the payment of the government services in the Bitcoin, and against a wider environment of progressively favourable regulation for the Blockchain startups at a national level. David Craig in which is Thomson Reuters President Financial & Risk Business stated that the formation of the Crypto Valley Association has already been engaging the local government, startups, venture capital and also larger corporations. And this fully bestows them an access to a pipeline of the interesting startups, talent and also a chance to be able to participate directly in the initiatives driving the technology.

Russia’s Bitcoin ATM Was Installed In St. Petersburg

A rare addition right into the Russia’s Bitcoin ATM count has been installed and appeared to be seen right in the country’s second city of St. Petersburg.

The particular machine was operated by the cryptocurrency exchange which is the Bitlish that fully offers Bitcoin, Ethereum, Litecoin and also ZCash purchasing facilities together with an automatically-updating exchange rate. This certain machine can be found right in the shopping center at the Sredny Prospekt V.O. 36, which is located on the city’s Vasilevsky Island.

The installation is a probable outcome of the Bitlish’s urge for further ATMs right in Russia in which us based right into the legal concerns that have hosted only a couple of machines. The exchange has illustrated its fleet of the ATMs at a recent conference held in Moscow, but so far and until this very moment there is no official information that is accessible regarding any of their locations. Still, there are no Russian machines that are enlisted in the current CoinATMRadar’s listings. And there is a request for the confirmation and further information regarding the ATM which did not immediately return a single reply right from the Bitlish.

The said installation in itself is a symbol of shifting epoch regarding the Russia’s relationship with the cryptocurrency. And having previously de facto banned it as a “surrogate” or an alternative to the Russian Ruble, the country’s central bank this year signaled a new perspective. A constructive regulation that fully states that it would be its policy going en route for, and also at the same time an all-out ban would be counterproductive if even possible.

Bitcoin Can Probably Make It But 90% Of The Altcoins Won’t!

The Altcoins are springing up on a daily basis, and people might have observed that they regularly appear on the lists of the CoinMarketCap. On the other hand, Ethereum Classic’s Charles Hoskinson foresees that about 90% of the Altcoin that will possibly end its career right on the near and approaching future.

And to be fully certain of the sustainability of the cryptocurrency Charles Hoskinson believes that the Treasury Mechanic measures must be taken sincerely. And in these recent times, there are several Altcoins which have come in the very situation of examination due for employing the pump and dump strategies just to be capable of swindling their holders. For a mere example is the CageCoin which recently rose by 31,000 percentage points but suddenly knocked down just within the 24 hours. The fact that it is relatively essential that the community members fully endure the necessary due to diligence upon investing in any single coin. And this is critical at the moment when the digital currency is scaling and convincing sceptics as well, and it is not a nine-day wonder but has in actual fact of staying.

Right on a divergent circumstance, Charles Hoskinson holds they view that the Bitcoin is not in the variant of the unsustainable coins and the strength of every single currency right in its communities, not its technology per se. And he elaborates that the technology can incentivize more community to come but it fully cannot be able to replace it. The Bitcoin has the well-established community of all of the cryptocurrencies and at the very same time the most resilient. The mere fact that it has survived for over the billion dollars of theft, plus the dozens of death declarations and exchange failures together with several so-called leaders who are trying to hijack to project and the founder leaving. And it is completely astonishing that the Bitcoin has endured and flourished. Furthermore, I do not really deem that the Bitcoin is going to die. To a certain extent, the better question is where it will stop. Beyond doubt, it is the only thing for all of the currencies in which includes the US Dollar. And it is merely strong for the reason that the people accept and take it for the goods and the services. And picture that if they unexpectedly stopped, the dollar would be in dilemma.

Hoskinson states that he does not really think that the Bitcoin is going to die. And to a certain extent, the better question is where it will stop. He also claims that it will either become as a universal payment system or just as simply as a digital gold standard that stores and keep value. And alongside with the standard of measurement enhancing promptly with the infrastructures similarly to the ATMs, debit and credit cards, and there are hundreds of thousands of the merchants, it is quite difficult to dispute. Numerous of the contractors right in the Eastern Europe are now doing the dev work for the Bitcoin and the fact that it is quite known in Ukraine.

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