Category Archive : South Africa

This car will mine Bitcoin while you charge it – and it’s ideal for short distance commuting

  • Daymak Spiritus is a compact urban electric car that can mine crypto while it charges.
  • Vehicle will be on the road in North America in 2023. 25 000 pre-orders received.
  • Range topping model can accelerate from zero to 96km/h in less than two seconds.
  • For motoring news, go to Wheels24

If you haven’t heard of Daymak before, we won’t hold it against you. The North American battery specialist and mobility solutions provider of e-bikes and scooters is building a three-wheel electric car that can mine cryptocurrency while it charges. Daymak claims that its upcoming Spiritus electric car will include Daymak Nebula, its patent-pending, comprehensive cryptocurrency infrastructure.

The Spiritus, launching in particular markets in 2023 (not for South Africa yet), is the halo electric car offering in the Daymak Avvenire series, a robust line-up of EVs spanning e-bikes all the way up to flying electric vehicles. Earlier this week, the company announced that it’s accepting Spiritus pre-order payments in cryptocurrencies, including Doge, Ethereum, Cardano, and Bitcoin, making it one of the first electric vehicle manufacturers to do so.

LETTER | Are we in trouble? Electric vehicle torpedo heading the way of SA automakers

Daymak Spiritus

‘Minecraft’ in your car

Every Spiritus vehicle will be a node on the Blockchain and include Daymak Nebula Miner and Nebula Wallet. Daymak Nebula technology makes Daymak Spiritus the first car in history with mining hardware and cryptocurrency technology programmed into the user interface. As an emission-free daily driver with solar charging capabilities, too, Nebula infrastructure turns Daymak’s Spiritus vehicles into environmentally-friendly crypto miner nodes.

“The Spiritus car is for those who want more in life, and we are committed to putting our customers ahead of the curve. We envision a future where your highway tolls, parking, and drive-thru orders will be paid directly on the fly with crypto. The car can handle your online bills…

Read more at www.news24.com

South Africa is looking at rolling out booster shots. Here’s why

  • Health workers vaccinated with Johnson & Johnson’ jab in the country’s Sisonke study may be up for another dose once the South African Health Products Regulatory Authority has approved the trial’s updated protocol.
  • Covid vaccines protect people against falling seriously ill with the disease, but how long the protection lasts and the strength of that protection remains unclear.
  • The World Health Organization says governments should consider the ethics of supplying booster jabs to their populations while much of the developing world is still waiting for doses to complete round one of their roll-outs.

Nine months after just under half a million healthcare workers in South Africa were vaccinated with one shot of Johnson & Johnson (J&J) in the country’s Sisonke implementation trial, they’re likely to get a second shot of the same vaccine in a new leg of the study.

The Sisonke study ran from February to May and immunised 496900 healthcare workers with J&J’s Covid jab.

The programme used leftover stock from J&J’s international vaccine trials and ran at a time when South Africa had no other jabs available. The local study’s goal was to provide protection to South Africa’s frontline workers.

A second booster dose is, however, not a sure thing yet – the country’s medicines regulator, the South African Health Products Regulatory Authority (Sahpra), is currently reviewing data submitted by Sisonke’s researchers to decide whether it is safe and potentially effective for the trial’s participants to get another shot up to eight months after their first jab.

What is a booster shot?

Each Covid vaccine comes with its own recommended dose.

For example, the J&J jab requires only one dose which means, at this stage, that you are considered fully vaccinated after just one shot. Meanwhile, those who get the Pfizer vaccine are only considered completely immunised after getting two jabs.

But, some countries such as the United States and Israel, have decided to give…

Read more at www.news24.com

Justin Sun Confirmed As Crypto Fest Keynote Speaker

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Press Release: Wednesday, October 27 2021, 15:40 CAT | Source: Bitcoin Events

Bitcoin Events is delighted to confirm well-known serial entrepreneur and early blockchain crusader Justin Sun as a keynote speaker at Bitcoin Events’ 3rd annual crypto fest: Crypto Fest 2021: Rumble in the Crypto Jungle.

Mr. Sun introduced blockchain as a value network to China in 2012 and was on the Forbes 30 under 30 China and Forbes 30 under 30 Asia list in 2017. He founded the TRON Foundation, one of the largest blockchain-based operating systems in the world, which has its own cryptocurrency dedicated to building the infrastructure for a truly decentralized internet.

Web 3.0, which aims to achieve more intelligent, connected, and decentralized websites, will use technologies such as TRONS’s smart contract platform to address current issues of scalability, and speed, and cost of transactions without compromising decentralization and security.

Smart contract platforms, Non-Fungible Tokens (NFTs), and Decentralised Finance (DeFi) are the three trendiest topics in the blockchain industry right now. Crypto Fest 2021 will be focusing on these three hot topics, as will Mr. Sun’s keynote address DeFi’s Effect on NFTs, Blockchain, and Web 3.0.

“With the introduction of NFT’s we have seen the adoption of DeFi and blockchain technology explode, this is an exciting time in the history of our digital existence,” said Justin Sun, Founder of TRON, Web 3.0 is the real revolution of blockchain technology, this integration has had remarkable effects on the evolution of the web. I am looking forward to addressing these changing tides at Crypto Fest 2021.”

Entrepreneurs, innovators, and investors attending Crypto Fest 2021 will enjoy talks that examine the future of the crypto industry, as well as discussions reflecting on the crypto industry’s exciting and eventful journey thus far as it overcame major challenges, from scalability and…

Read more at globalcrypto.tv

Crypto and DeFi Regulation: It’s About to Get Serious

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Cryptocurrencies and decentralized finance remain under scrutiny from federal agencies and commissions. The acting Comptroller of the Currency has publicly stated that cryptocurrencies and decentralized finance may be evolving into serious threats to the financial system, much like the way certain financial derivatives prompted serious concerns and a near collapse back in 2008.

Clearly, serious regulations are under consideration. Jones Day’s Josh Sterling and Dorothy Giobbe discuss what industry stakeholders need to know.

Read more at www.lexology.com

India’s top 10 favourite cryptocurrencies in October 2021

The total market capitalisation of the global crypto market currently stands at $2.6 trillion — that’s the same as India’s gross domestic production (GDP) for all of 2020 which stood at $2.6 trillion, according to the World Bank.

A lot of this growth came about in the past one year, when investors were scrambling to diversify their investments amid the uncertainty of the COVID-19 pandemic. That holds true for India as well. WazirX, one of India’s leading crypto exchanges, saw a spurt of users come in, not just from the largest cities, but also Tier-II and Tier-III cities.

“Coupled with the pandemic-induced lockdown, it has further accelerated the digital adoption in these regions,” the company said in a statement. Overall, WazirX has more than 9 million users on its platform , with a trading volume of $30 billion so far this year. It has over a hundred cryptocurrencies up for trading.

Cryptocurrencies have attained wider usage too, beyond simply buying to hold — or HODL. For example, Bitcoin wants to be a means of transaction, Ethereum is building smart contracts and Ripple’s XRP wants to be the king of interoperability. Many of these cryptocurrencies, including Shiboshi NFTs bought using Shiba Inu, are accepted as payment on online ‘bridge’ services like shopping.io, that enable purchases from sites like Ebay and Amazon.

Why are people investing in cryptocurrencies?
Cryptocurrencies are based on blockchain technology – a cryptographically secured ledger of all transactions conducted. That allows for decentralised, trusted transactions even when not controlled by a country or bank.

Just like one can trade on the value of fiat currencies, like the dollar or the rupee, as well as for company shares on the stock market — they can also trade on the value of cryptocurrencies on a crypto exchange. Exchanges based out of India, like WazirX, not only helps match buyers and sellers, but lets users trade or sell to book profits in the Indian rupee….

Read more at www.businessinsider.in

Cryptocurrency Cross-Border Arbitrage May Breach Exchange Control Regulations – Technology


South Africa:

Cryptocurrency Cross-Border Arbitrage May Breach Exchange Control Regulations


To print this article, all you need is to be registered or login on Mondaq.com.

With reference to recent articles discussing Standard Bank
terminating accounts of several clients offering automated
cryptocurrency arbitrage services, we highlight a few kew points on
the matter in this post.

The South African Reserve Bank’s position is simple:

The Exchange Control Regulations prohibit transactions where
capital or the right to capital is, without permission from
National Treasury, directly or indirectly exported from South
Africa. This includes transactions where an individual purchases
crypto assets in South Africa and uses them to externalise ‘any
right to capital’. Contravening these regulations is a criminal
offence.

The repatriation of value to South Africa through crypto
assets is not permitted as part of an individual’s single
discretionary allowance and/or foreign capital allowance. This is
because of the nature of the assets and because the transaction is
currently not reportable on the FinSurv Reporting System.

Crypto traders tend to accept fiat currency from clients in
their commercial bank account. These funds will then be utilised to
acquire crypto on an exchange in South Africa to be arbitraged on a
foreign crypto exchange, before being repatriated into South Africa
and sold (or transferred to fiat currency). The moving of these
crypto currencies…

Read more at www.mondaq.com

Red Sox Legend David Ortiz, Into Crypto Now, Signs Multiyear FTX Deal

David “Big Papi” Ortiz is the newest ambassador of crypto exchange FTX.

The Major League Baseball (MLB) legend, who hit over 500 home runs and brought home three World Series titles to the Boston Red Sox, has agreed to a multiyear deal with the exchange.

As part of the pact, Big Papi will be compensated in cryptocurrency through the FTX app and release multiple non-fungible token (NFT) collections, according to a press release.

FTX now has a strong lineup of athlete ambassadors, with Ortiz rounding out America’s professional sports trifecta with football’s Tom Brady and basketball’s Stephen Curry. TV commercials referencing the Ortiz deal (and mentioning Brady and Curry) began running on Tuesday night during the first game of the 2021 World Series.

Read more: NBA Star Steph Curry Joins Tom Brady as FTX Ambassador

FTX will also be serving as a title sponsor for the David Ortiz Celebrity Golf Classic, and contribute donations to his charity, the David Ortiz’s Children’s Fund.

The crypto exchange led by CEO Sam Bankman-Fried is growing familiar with the MLB, with its current sponsorships including patches of its logo on the league’s umpire uniforms and “Moonblasts,” where the exchange has donated $10,000 for every postseason home run hit over 425 feet.

“David is an MLB legend, known for hitting home runs to the moon and his incredible personality,” Bankman-Fried said in a press release. “Most importantly, he is dedicated and passionate about helping others, so when he wanted to get into crypto, we were incredibly excited to help him start his journey. Now the world knows that Big Papi is in.”

Read more at finance.yahoo.com

A new breed of crypto scammer targets lonely hearts and the elderly

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Eva Crouwel, head of global financial crime at Luno, explains how criminals have adapted their game, and are now targeting those in search of love online, as well as the elderly.


Read more at www.moneyweb.co.za

Elon Musk reveals his crypto portfolio, says he only holds Bitcoin and two other cryptocurrencies but no Shiba Inu Coin

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Read more at www.notebookcheck.net

Bitcoin Events Confirms Crypto Whiz Kid Justin Sun as Keynote Speaker at Crypto Fest 2021

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Bitcoin Events is delighted to confirm well-known serial entrepreneur and early blockchain crusader Justin Sun as a keynote speaker at Bitcoin Events’ 3rd annual crypto fest: Crypto Fest 2021: Rumble in the Crypto Jungle.

Mr Sun introduced blockchain as a value network to China in 2012 and was on the Forbes 30 under 30 China and Forbes 30 under 30 Asia list in 2017. He founded the TRON Foundation, one of the largest blockchain-based operating systems in the world, which has its own cryptocurrency dedicated to building the infrastructure for a truly decentralised internet.

Web 3.0, which aims to achieve more intelligent, connected and decentralised websites, will use technologies such as TRONS’s smart contract platform to address current issues of scalability, and speed and cost of transactions without compromising decentralisation and security.

Smart contract platforms, Non-Fungible Tokens (NFTs) and Decentralised Finance (DeFi) are the three trendiest topics in the blockchain industry right now. Crypto Fest 2021 will be focusing on these three hot topics, as will Mr Sun’s keynote address DeFi’s Effect on NFTs, Blockchain, and Web 3.0.

“With the introduction of NFT’s we have seen adoption of DeFi and blockchain technology explode, this is an exciting time in the history of our digital existence,” said Justin Sun, Founder of TRON, Web 3.0 is the real revolution of blockchain technology, this integration has had remarkable effects on the evolution of the web. I am looking forward to addressing these changing tides at Crypto Fest 2021.”

Entrepreneurs, innovators, and investors attending Crypto Fest 2021 will enjoy talks that examine the future of the crypto industry, as well as discussions reflecting on the crypto industry’s exciting and eventful journey thus far as it overcame major challenges, from…

Read more at cryptonews.com

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