Dedicated to providing blockchain and cryptocurrency Analysis

Author: Omobolanle Adeniran

Can Smart Contracts Change the Legal System?

The blockchain technology is not only disrupting the banking, healthcare, education, agriculture and healthcare industry, but also the legal industry.  Many industries are finding new ways to adopt this technology every day. The blockchain technology boasts of a trust system, whereby trust is established through collaboration and code, rather than a central authority. Smart contracts are a product of this technology.  One benefit of these smart contracts is that it reduces the reliance on trusted intermediaries unlike in a traditional contract law.   Contracts A contract formalizes an agreement between two or more parties. A contract refers to an...

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Binkabi

Africa’s economy is inherently dependent on Agriculture. It is estimated to represent more than 35 percent of Africa’s total GDP and employs more than 60 percent of the labour force (NEPAD-OECD Africa Investment Institute, 2010). Africa is blessed with vast natural and mineral resources and the agricultural sector is considered to be the largest economic sector. Nevertheless, it is plagued with a number of challenges; from low access to funding faced by farmers, to high transaction costs caused by poor transportation costs and intermediaries.  A fintech startup -Binkabi, focused on solving issues in commodity supply chain in developing markets,...

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Cryptocurrency Hacks and the Immutability of the Blockchain

Cryptocurrency hacks are shaking the faith of cryptocurrency investors and cryptocurrency enthusiasts. Is investing in cryptocurrency actually safe?’ Let’s look at the four large segments of cryptocurrency hacks: Double spend attack or 51% attack Distributed Denial of Service (DDoS) And Attacks on the Cryptocurrency exchanges .  Attacks on User’s Wallets.   Double spend attack or 51% attack The most prominent attack is the 51% attack or double spend attack. This occurs when a miner or group of miners on a blockchain are trying to spend their cryptocurrencies on that same blockchain twice and control more than 50% of the...

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ICO- A better way to raise capital?

Imagine if you could raise capital for your project idea or company without giving up ownership of your company or equity. How? -ICO! The first ICO or first token sale was done by Master coin in July, 2013. ICO stands for Initial Coin Offering. This is similar to an Initial Public Offering( IPO) i.e.when a company lists out their stocks on a stock exchange for the first time by offering their stock to the public in order to raise capital. This is a traditional and regulated means of raising capital. An ICO is an innovative and unregulated crowdfunding mechanism...

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What is cryptocurrency?

The word ‘cryptocurrency’ has become ubiquitous and it seems everyone wants to know what it is. There is a budding cryptocurrency ecosystem in African countries (e.g. South Africa, Ghana, Nigeria, Uganda, Kenya and Zimbabwe), although it is usually associated with either a scam or Bitcoin. Globally, cryptocurrency is also regarded as an ‘hype or a bubble’ versus the ‘Future’.  What then is a cryptocurrency?   One must understand what money is in order to understand what cryptocurrency is. Money came about in response to the inefficiency in the barter system- the lack of transferability and divisibility of goods.  Unlike...

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