24 Jan SOUTH AFRICA AND DIGITAL PAYMENTS - Blockchain Events and Education, Crypto Culture, South African Reserve Bank and CBDCs, Silicon “Cape”, Online Payments (High level 2)
This is the second in an exciting new series of articles that focuses on providing multinational eCommerce companies with comprehensive information on the South African eCommerce and Digital Payments market. SILICON “CAPE” South Africa has been home to its fair share of amazing global innovations through individuals like Elon Musk and Mark Shuttleworth. Cape Town is particularly well know for its tech and innovation with a well funded tech hub in Stellenbosch, Silicon Cape Initiative for tech entrepreneurs, angel investors, and VC's. Cape Town also has been the source of many paytech developments and innovations like Snapscan. EVENTS AND EDUCATION South Africa is well served with crypto and blockchain education and events with organisations like the Blockchain Academy, and Blockchain Events who are responsible for annual crypto and blockchain events Blockchain Africa and Cryptofest which are held every year. CRYPTO CULTURE South Africa has a powerful crypto culture with 11% of South African internet users owning some form of cryptocurrency as compared to the worldwide average of 5.5%. Nigeria and South Africa are first and second in the world for the search term “bitcoin”. In terms of institutional involvement it is exciting to see that Investec bank is the lead sponsor for Blockchain Africa this year. SOUTH AFRICAN RESERVE BANK AND CBDCs The South African Reserve Bank created and tested a blockchain interbank payment system using zero knowledge proofs which transacted daily volume to finality in record time between 7 banks. The Reserve Bank is considering issuance of a digital rand (ZAR). ================ Our thanks for inspiration to "South Africa Ranks First in Both Crypto Ownership and ... - breakermag." 20 Feb. 2019, https://breakermag.com/south-africa-ranks-first-in-both-crypto-ownership-and-income-inequality/. Accessed 1 Sep. 2019. Services
