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Bitcoin in Africa: Insights from the Continent’s Biggest Bitcoin Exchange

Isn’t it absurd that nearly 326 million people representing 80% of the adult population in Africa do not have access to bank accounts? This wretched situation denies countless of people financial freedom in the so-called dark continent. Bureaucratic tenors and economic exclusion inter alia have paved the way for the current phenomenon. Last year a study of 10 African nations with unusual inflationary ratio had South Sudan registering an unimaginable inflation rate of 295 percent. Egypt had the slightest with 12.30 percent. African governments continue to plunder the riches of the African people through Inflation. This makes it considerably insurmountable for individuals to conserve their resources. Moreover, public sector borrowing has crowded out the efficient private sector that can put credit to good use. The IMF estimates that averagely credit to the private sector is estimated at 30 percent of GDP in Sub-Sahara Africa. CCN spoke to Werner van Rooyen, Head of Business Develo...
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Why Bitcoin Costs Nearly Twice as Much in Zimbabwe as the Rest of the World Right Now

In Zimbabwe, a country where hyperinflation led to $1 being worth 35 quadrillion Zimbabwean dollars , the relative security of cryptocurrency already came at a premium. The recent military takeover of the capital – which generals insist is not a coup – has made made the problem even worse. Bitcoin prices have risen 10% to $13,499 on Golix, the troubled nation’s only cryptocurrency exchange. That figure is nearly twice the $7,000 Bitcoin price on U.S.-based exchanges such as Bitfinex. The surge has been fueled by Zimbabwean investors seeking a safe haven from domestic banks amid the country’s ongoing political, financial and monetary woes. While Zimbabwe once had its own currency, it began using a mix of currencies from stable economies including the U.S. dollar in 2009 after hyperinflation made its own note nearly worthless .   But, as the country’s political situation has worsened, Zimbabweans have continued to hoard money and park it in assets such as Bitcoin — a move t...
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The Nazi gold

Nazi gold  ( German :  Raubgold , "stolen gold") is the rumored  gold  allegedly transferred by  Nazi Germany  to overseas banks during  World War II . The regime is believed to have executed a policy of looting the assets of its victims to finance the war, collecting the looted assets in central depositories. The occasional transfer of gold in return for currency took place in collusion with many individual  collaborative  institutions. The precise identities of those institutions, as well as the exact extent of the transactions, remain unclear. The present whereabouts of Nazi gold that disappeared into European banking institutions in 1945 has been the subject of several books,  conspiracy theories , and a failed  civil suit brought in January 2000  against the  Vatican Bank , the  Franciscan Order , and other defendants. he draining of Germany's gold and foreign exchange reserves inhibited the acquisition of...
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