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Mentor. Accelerate. Invest
Developing tech entrepreneurs in subsaharan Africa

www.savannah.vc

Virtual Currency & Emergin...
What are virtual currencies?

• Electronic (fiat) Money: Mobile Money..
• Centralized: Airtime miles, Mobile Airtime
• Dece...
How do you use virtual currency?

• Wallets: unique address like email
where you can store virtual currency
• Exchanges ac...
How do you use virtual currency?
• Trusted brokers/fixed Exchanges:
E.g. Coinbase, Kipochi, Bitpesa
• Trust and Compliance ...
The 4 pillars of virtual currency

• As a store of value (hedge
against inflation, risks- Ponzi
scheme)
• As a secure ledge...
As a store of value

• How does one protect
wealth against risk in
holding your local
currency
• Many hold USD, any
issues...
As a secure Ledger

• [Demo the blockchain live]
• Tracking "anonymous transactions". KYC/AML
• Helping track Govt. spendi...
As a more effective payment
system

• Ecommerce: Bitpay, paybutton
• Microtransactions: especially in financial services fo...
Legality of a Bitcoin


• Subject to taxation on gains
• As a foreign currency.
• Is it money or a
commodity?
• Not permit...
Social Network + Currency

• Internet of money + Network
effects. Think Skype, Facebook,
Whatsapp + virtual currency
• A b...
Dogecoin + Twitter

• A much better user
experience
• Taps directly into a
community
Virtual currency talk and emerging markets kinu
Virtual currency talk and emerging markets kinu
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Virtual currency talk and emerging markets kinu

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Introduction to Virtual Currencies and Emerging Markets

Published in: Economy & Finance
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Virtual currency talk and emerging markets kinu

  1. 1. Mentor. Accelerate. Invest Developing tech entrepreneurs in subsaharan Africa www.savannah.vc Virtual Currency & Emerging Markets @mbwana @savannahfund @afrikoin #Afrikoin http:www.afrikoin.org
  2. 2. What are virtual currencies? • Electronic (fiat) Money: Mobile Money.. • Centralized: Airtime miles, Mobile Airtime • Decentralized Cryptocurrencies • Unique pieces of digital property that can be transferred. "pseudonymous" • Gets over the double spend problem for digital money • Created from "mining" - solving complex math problems with powerful PCs. Elaborate incentive system for rewarding miners
  3. 3. How do you use virtual currency? • Wallets: unique address like email where you can store virtual currency • Exchanges act as key cash in and cash out points similar to mobile money agents. Online and Offline ( mt.gox, bitx.co.za bter.com • Trusted brokers. E.g. Coinbase, Kipochi, Bitpesa • Trust and Compliance is VERY IMPORTANT. (E.g. Mt Gox losing 744,408 bitcoin worth $350M). Or bitisnstnt CEO arrested for money laundering
  4. 4. How do you use virtual currency? • Trusted brokers/fixed Exchanges: E.g. Coinbase, Kipochi, Bitpesa • Trust and Compliance is VERY IMPORTANT. (E.g. Mt Gox losing 744,408 bitcoin worth $350M). Or Bitinstant CEO arrested for money laundering
  5. 5. The 4 pillars of virtual currency • As a store of value (hedge against inflation, risks- Ponzi scheme) • As a secure ledger... The value of transacting globally, disrupting banking whilst seeing every public transaction • As a payment system (ECommerce & Microtransactions ) • As a global decentralized currency
  6. 6. As a store of value • How does one protect wealth against risk in holding your local currency • Many hold USD, any issues? • Zimbabwe and South Africa capital controls
  7. 7. As a secure Ledger • [Demo the blockchain live] • Tracking "anonymous transactions". KYC/AML • Helping track Govt. spending against corruption • Disrupt banks in Africa to move away from a "banking fee" model to more needed area such as lending
  8. 8. As a more effective payment system • Ecommerce: Bitpay, paybutton • Microtransactions: especially in financial services for the poor and donations. • No charge back and less fraud issues dealing with plastics money • It competed directly with mobile money and banks, cutting fees directly and more global and instant. • Remittance or remittance driven ecommerce.
  9. 9. Legality of a Bitcoin • Subject to taxation on gains • As a foreign currency. • Is it money or a commodity? • Not permitted for merchant acceptance (illegal) www.bitlegal.io http://99bitcoins.com/bitcoin-worldwide-adoption-status/
  10. 10. Social Network + Currency • Internet of money + Network effects. Think Skype, Facebook, Whatsapp + virtual currency • A better way to connect and crowdfund • The more the currency spread the more valuable it becomes A decentralized currency, and a decentralized band requires permission from no one. We are all "The Cypherfunks". This community requires plenty of people to contribute. Software developers, musicians, promoters, miners and fans. Anyone contribution is a great contribution. www.thecypherfunks.com
  11. 11. Dogecoin + Twitter • A much better user experience • Taps directly into a community

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