Sats & Gwei | Bitcoin mining brings more than money to Malawi | South Africa adds new crypto standard to advertising code | Blockchain to rebuild African financial system | and more

Welcome to another episode of Africa’s Crypto Rollup - Sats & Gwei. like we always do weekly, in this episode we bring you the latest and most relevant crypto news and updates across Africa. 

Bullish sentiment is gradually returning to the market as we have seen greens across board in the course of the week. 

Crypto continues to take center stage in some African countries as the South African Advertising Regulatory Board is adding a clause to its advertising regulatory code specific to cryptocurrency. The aim is to ensure that individuals and organizations publishing cryptocurrency ads follow ethical advertising principles and not provide misleading information to the public. The code requires adverts to clearly state that investments can result in loss of capital and provide well-rounded information about the advertised cryptocurrency token or service. 

The African financial system has evolved over the years to include innovative financial instruments and products including loans and credit facilities, overdrafts, mobile money and fintechs - all of which have to some extent aided in bridging the financial divide and promoting inclusion. Blockchain technology offers a next step into the future of the African financial system. 

Besides offering the advantages of instant settlements in terms of sending and receiving money, improved  efficiency due to the use of immutable smart contracts, increased accountability, improved security and reduced transaction costs, blockchain technology holds the promise of allowing people maximum control over their money. 

Meanwhile more families are connected to the grid thanks to a Bitcoin mining project in a rural part of Malawi, which also gives an underdeveloped area economic empowerment. According to a tweet from the project's sponsor, Gridless, 1600 families are now connected to this isolated hydro minigrid in the mountains of southern Malawi. The project is set to transform the educational, healthcare, business and wealth fortunes of the people in the region while minimising the footprint of its environmental impact to the bare minimum.

This and many more in this week’s rollup. 

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Sats & Gwei is a Bankless Africa podcast that brings you weekly crypto/web3 headlines about the Africa continent. Stay up to date with the most relevant crypto happenings across Africa.

 

Disclaimer:

None of what is shared in this show is financial advice. Only the opinions of the individuals that make this show possible. Remember to always do your own research. 

 

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