Cryptocurrency Cannot be Ignored: Swaziland Central Bank Governor


The Kingdom of Swaziland’s Central Bank is undertaking a study about  cryptocurrencies  as its governor highlighted.

He was speaking  during last week’s economic conference. The Central Bank of Swaziland (CBS) chief Majozi Sithole held an optimistic view about block chain technology according to Swazi Observer. 

Although he didn’t provide clear information on what the Central Bank was doing to enhance the adoption of cryptocurrencies,  Sithole noted that  cryptocurrency  and blockchain are being studies by researchers at the central bank. He implied that the central bank did not want to be an impediment to any financial innovation.

“It may not be wise to dismiss virtual currencies and as the CBS we are learning and we want to accept and support innovation. If this is innovation, we do not want to stifle it. We want to learn more about it,” he said in the conference.

Sithole’s comments indicate that the central bank’s is very interested in cryptocurrencies. most significant comments on cryptocurrency to date. However, this is not the first time the bank is expressing its interest in gaining understanding of the crypto coins. Previously in August,  through an internal news circular which was published in August, Lindokuhle Sithole Shabangu, who is the Central Bank’s senior communications officer, provided an overview of the blockchain technology and highlighted that research was being undertaken regarding blockchain technology and bitcoin.

She highlighted that “In essence, the Central Bank, in line with its mandate to issue and redeem currency as well as to promote safe and accessible payment systems, continues to closely monitor developments in the financial services industry with a view to ensure that the regulatory framework remains relevant and appropriate.” This  means that the Swaziland is considering putting in place friendly regulatory mechanisms that will support adoption of cryptocurrencies in the country.  This positions Swaziland as one of the countries in the developing world which is likely to have a regulatory framework for cryptocurrencies.

Uses of crypto currencies

Uses of cryptocurrencies

1. Receiving payments

Many employees are now receiving their payments in cryptopayment. This new use of crypto currencies has come about as employers especially technology companies are accepting to pay employees in crypto currencies. Crypto currencies are preferred buy the employees because payments are instant. It is also easy for employers to process crypto based payments.

2. Payment for property

Crypto currencies are now becoming an accepted mode of making payment for property. This is considered to be advantageous because it allows easy processing of property payments. It also enable keeps the transactions private especially in instances where privacy is necessary. Peer to peer payments ensure than no intermediaries and brokers are involved in the payment which eliminate huge fees that is paid to brokers during property transactions. Most importantly, crypto currencies make the transactions safe easily where large amounts need to be transferred between the buyers and seller of the property.

3. Making donations

Most charity organisations are now accepting crypto-currency donations. This means that you can now make donations using crypto currencies.

4. Speculative asset

Crypto currencies can also be used as speculative assets. One can buy and hold them expecting to sell them when the prices go up. Despite their volatile nature which makes them dangerous for investors, savvy investors who buy low can also benefit immensely by selling high. However, there is a caveat than you only speculate what you can afford to lose.


By Samuel Ng’ang’a

The 5 most expensive cryptocurrencies

Many people think that Bitcoin is the most expensive cryptocurrency but they are very wrong. Bitcoin is not even among the top five most expensive cryptocurrencies. The following is a list of the most expensive cryptocurrencies.

1.  Project X (NANOX) $161,521

Project X chart

This is the most expensive cryptocurrency. Project X otherwise known as NANOX has a price tag $165,917 per coin which makes it the most expensive cryptocuurency. This coin however is in short supply as there will be only 1.0756866 NANOX coins. Currently the coin has a circulating supply of 0.078264 NANOX. The scarcity of the coin makes the most expensive cryptocurrency in the market. The price as at October 6th 2017 was $161,521.

2. Bit20 (BTWTY) $134,300

Bit20 (BTWTY) is a coin for cryptocurrency index known as Bi20. It is the second most expensive cryptocurrency in the market as it is currently retailing as $134,300. The coin currently has a circulating supply of 1.016 BTWTY.

3. 42coin (42) $7440

This is the third most expensive cryptocurrency. It has a market capitalisation of $312,483 as at 6th October 2017. 42coin has fixed supply of 41. 999999 and only 42 coins will ever be mined. This coin is also valued for fast transactions. 42coin transactions also take only 42 seconds which makes it one of the fastest ways of settling payments using cryptocurrencies.

4. Primal Base Token (PBT) $4538.45

This is the 4th most expensive crypt currency as at 6th October 2017.  Primal Base Token is a unique coin which gives owners of the token a real physical space eg spaces in hotel rooms or in amusement parks depending with the value of the token acquired by the user. This token has a market capitalisation of $4,538,240. There is a fixed supply of PBT which is 1250 coins. Currently there are 1000 tokens only which are in circulation.

5. Bit BTC $4433

This is the 5th most expensive crypto currency as at 6th October 2017. BitBTC is valued at which is higher than bitcoin which is trading at $4342.

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Cryptocurrency is not just a fad says James Gorman

James P Gorman


The crypto currency industry has received support from James P. Gorman one of the top bankers and the chief executive of Morgan Stanley. James Gorman has expressed open mindedness among the bankers by intimating that the crypto currencies. Of late bankers such as Jamie Dimon of JP Morgan have expressed a negative view of cryptocurrencies by indicating that they are scam and illegal.

Discussing on the future of finance, James Gorman indicated that the future of finance industry will be significantly affected by the technological developments. James Gorman noted that crypto currencies and block chain technology was more than just a fad and that the technology behind the cryptocurrencies was a fascinating concept.

He however noted that the major risk was the anonymous nature of crypto currencies which made regulators uneasy with crypto currencies. He also noted that the value of crypto currencies was not necessarily speculative but it was a natural consequence of developments in the block chain technology. He implied that the value of cryptocurrencies was derived from the block chain technology.

James P. Gorman has been at the helm of Morgan Stanley since 2010. He is also the chairman of the board of Morgan Stanley. He is an alumnus of Columbia Business School and University of Melbourne.  His estimated annual salary in 2016 was $27million.

His viewpoint on cryptocurrencies significantly contrasts that of Jamie Dimon who indicated that bitcoin was illegal and that it was a fraud and that he would never trade in it. He further stated that he would sack any executive found trading in bitcoin

Despite the various viewpoints on cryptocurrencies, the market capitalisation of crypto currencies has grown to $150 billion making it one of the fastest growing segments of finance. It is expected that the value of crypto currencies is going to skyrocket as more people accept cryptocurrencies.

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7 Comic cryptocoins with unbelievable market capitalisation

The comic cryptocoins  do not have a great concept behind them. Actually the founders of this cryptocurrencies created them for fun only for the market to receive them seriously and value the cryptocoins at insane market value.

1. Doge coin

Doge coin was created as a joke coin for a dog internet meme. The market however currently values doge coin at $100 million. The coin has been a strategy of pump and dump cycles with its market capitalisation once peaking at $280 million before being dumped by the investors.


2. Monacoin

While Dogecoin is a dog meme, Mona coin is a cat meme cryptocurrency and it is very popular in Japan and it has a market capitalisation of $27 million.


3. Potcoin

This is a cryptocurrency for the cannabis industry. The coin has a market capitalisation of $26.5 million.

4. Unobtanium

This coin was meant to mimic the rarest mineral on earth by creating a very rare crypto coin which is difficult to obtain and acquire. This coin derives its name from Avatar movie where there is search for the rarest mineral. Each of the Unobtanium costs $76 and has a market capitalisation of $15 million.

5. Insane coin

Someone just decided to boost the confidence of crypt currency investors by adding the word insane in front of the word coin. Interestingly the coin has a market capitalisation of $2.1 million.

6. Trump coin

This is another coin named after America’s president. It currently has a market capitalisation of $318 000.

7. Useless Ethereum Token

The creator of the token is anonymous and indicated that the token was useless from the start of the project. There was no security for the token, neither was there any benefit or value to be provided for creating the token. Nevertheless the investors still rewarded the token with a market value of $72000.

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Coin Loan Token

All these coins can be used as a collateral

Coin Loan

There is an upcoming crypto project which seeks to provide loans that are secured by crypto assets. known as Coin Loan Token The borrowers of crypto will provide crypto assets such as Ethereum, Litecoin and Bitcoins which will be used as crypto collateral. Once the borrowers have deposited their crypto collateral the borrowers will be in a position to receive fiat money (USD or Euro) of up to 70% value of the crypto which they have deposited.

There are several advantages which will accrue to borrowers. The first is that they will have their crypto secured implying that they will not need to sell their crypto in order to receive fiat money. The other advantage is that the transactions will be very fast as Coin Loan will also be allowing withdrawal of funds using wire or through card. Also the crowers can receive plastic cards through post. It will also be possible to borrow the loan using any form of currency available on Coin Loan platform. Unlike other platforms which focus on Bitcoin as the only recognised crypto asset, Coin Loan recognises other crypto currencies such Ethreum, Litecoin, Monero, Dash and Zcash as crypto assets.

Lenders will have the advantage of setting their loan terms and conditions such as the interest which they weren’t to receive. They will also have the advantage of offering loans on any fiat currency. In addition, lenders will be in a position to offers small loans with minimum amount being 50USD.  The funds will also be secured through the crypto assets deposits.

The Coin Loan project kick started on 29th September 2017 and it is expected to raise funds to make the project as successful. The Coin Loan ICO will provide Coin Loan Token to the funders of this project. The token can be put in various exchanges.




Japan allows 11 cryptocurrency firms to thrive as cryptoexchanges


Japan’s financial authority has licensed 11 companies to operate as crypto currency exchanges in Japan. These cryptocurrency exchanges include companies such as Quinone, BitFlyer, and CoinCheck. This move will increase the robustness and use of crypto currencies in Japan. This move makes Japan to be the top cryptocurrency sector in globe.

The licensing of the crypto currency exchange brings Japanese based exchange operations into regulation and scrutiny by the government. It also makes the Japanese exchanges to recover from the Mt Gox scandal which portrayed Japanese exchanges in negative light. It is expected that the crypto currency exchange activity will increase in Japan after China banned ICO operations. Japan is therefore expected to be the haven for ICOs and crypto currency. It is important to note that Japan is the first country which recognised Bitcoin as a legal tender.


What are the benefits of cryptocurrencies in Kenya


There are several benefits of using, possessing and owning crypto currencies in Kenya. Although crypto currencies had a negative image in Kenya because they were preferred by hackers and ransom ware attackers as their means of payment. Crypto currencies are now gaining world wide popularity as they are now becoming accepted worldwide as a legitimate form of payment.

1. Wholly owned by the holder

The holder of the crypto currency becomes the full owner of the crypto currency. Nobody can freeze your crypto assets not even the government, banks or any other entity. This means that your assets remain safe and within your control. This is very necessary for Kenyans as governments have a tendency to freeze people assets based on unfounded allegations. In addition banks are also not reliable as Kenya has seen two banks having their assets and depositors money frozen by the Central Bank of Kenya.

2. Minimizes fraud

Bitcoins transactions are irreversible hence once the payment is done it cannot be reversed. This is a major advantage to merchants in Kenya as it means that customers cannot dispute transactions once the payment has been done. This irreversibility of payments ensures that customers scrutinise the products and services to their satisfaction before making payments thus minimising fraud.

3. Global acceptance

Bitcoin is globally accepted as a currency of value. This means that when making international payments once can opt to pay using bitcoins instead of fiat money. This is specifically important to Kenyans who import commodities because they can benefit from minimised forex costs which they incur when changing Kenya shillings to USD or any other international currency.

4. Lower Costs

Bitcoins and other crypto currencies have lower costs compared with other forms of payment methods like Paypal or Visa. Paypal transaction cost is currently 4% while Visa ranges between 3%-8% in Kenya.

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Macao Regulator bans banks from processing ICOs and cryptocurrencies



Macao’s financial regulator, The Monetary Authority of Macao which is also the de facto Central Bank of Macau has informed all the financial institutions in the country not to engage or provide services which are related to virtual currencies. The regulators have banned the financial institutions in the country from providing any form of service to Initial Coin Offering or to any cryptocurrency. This comes after mainland China effected a ban on all crypto currencies after it intimated that they were an illegal form of raising money from the public. The Monetary Authority of Macao further indicated that all banking and payment services should not provide any indirect service to ICOs.

Although Macao is an independent and autonomous region from China just like Hong Kong, the activities and occurrences in Mainland China have direct influence on financial operation and activities happening in Macau. This ban by the regulator is similar to another ban which took place in 2014 and it specifically banned bitcoin by noting that it was not a legal tender and neither was it a recognised financial instrument in Macau. The ban on bitcoin in 2014 stated that bitcoins could be used to fund terrorism and criminal activities. The ban was later reversed.

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Indonesia’s Pundi X establishes the first retail point of sale service for cryptocurrency

Pundi X first month anniversary in Sonatopas Tower

Pundi X which is a block chain start up in Indonesia has developed a ubiquitous cashless payment solution that uses cryptocurrency. The company has unveiled a POS (Point of Sale) device that enables shops, retail stores and cafes to sell cryptocurrency to consumers . There is increasing number of shoppers interested in using cryptocurrency instead of fiat money.

This means that the Pundi X device will help customers to quickly sell and buy crypto currency using dollars, Rupee, Baht or Euro. Customers who buy the crypto currencies will then store them in digital wallets. Customers with the digital wallets can then use the crypto to make cashless payments to top up phones, pay utility bills or buy goods. In order to effectively make payments using crypto currency, Pundi X POS will convert cryptocurrency to fiat money in real time thus making the conversion process easier for the user.

Already, Pundi X has an existing cashless payment solution which uses QR codes to make instant payments to retail shops and restaurant.  According to Zac Cheah who is the CEO of the company, Pundi X has 100,000 registered users. The company also has about 500 merchant partners in Jakarta, Indonesia’s capital city.

Cheah, also noted that less than 1% of the global population owns crypto currencies mainly because the process of buying and selling cryptocurrency is complicated especially for ordinary person with basic technical knowledge. Pundi X is seeking to bridge this gap in the Indonesian market by making the process of buying crypto currencies as easy as buying retail products such as water. This will be done through provision of universal access of cryptocurrencies through the firm’s point of sale that will avail crypto currencies anytime and anywhere to customers.  The company is expected to spur its growth by issuing block chain tokens in an Initial Coin Offering.

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