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Weekly Roundup: Swahili Blockchain Book Now Available, Binance P2P Volumes Hit $280 Million in Africa

Weekly Roundup: Swahili Blockchain Book Now Available, Binance P2P Volumes Hit $280 Million in Africa
After experiencing raging swings this year, Bitcoin hit a new all-time high this week. On Monday, bitcoin recorded a price of $19,850, breaking the 2017 record. In other news, the Swahili blockchain book is now available for purchase, and Binance P2P trading in Africa is flourishing.
Read these and other stories in our news roundup this week.
Swahili Blockchain Book Now Available
The Swahili blockchain book is now available for purchase . The goal of this book, Jielimishe Kuhusu Blockchain , is to educate Swahili readers about blockchain technology . As a result, readers can contribute to regulatory conversations in their countries to help policymakers make the best decisions.
The Governor of the Central Bank of Tanzania (BoT), Professor Florens Luoga, is one of the first people to read the book. Sandra Chogo, the author, handed him the blockchain book during a conference held in the country.
According to Chogo, the Governor’s interest in the book could indicate that the regulator is warming up to the blockchain and cryptocurrencies. The book has already received a positive reception from the Tanzanian government.
Binance P2P Volumes Hit $280 Million in Africa
Binance P2P trading in Africa has grown significantly because the exchange is supporting six local currencies . So far, the exchange has processed a total volume of $280 million P2P trades in Africa.
In March 2020, Binance started supporting the Nigerian naira. Currently, African users can use Binance P2P to buy and sell BTC, USDT, DAI, BNB, ETH, and BUSD using the Kenyan shilling, the South African rand, the Nigerian naira, the Moroccan dirham, the Ghanaian cedi, and the Egyptian pound.
According to Binance, P2P traders on the platform are making an income between $30 and $350 each day.
“I solely rely on P2P trading as the main source of my income. With P2P trading, I can sufficiently meet my needs and bills. The best thing is that I can trade at my own time and any place,”  said Robacoin, a P2P merchant.
P2P trading on the continent could continue the upward trend as more and more Africans turn to crypto to make an income and to remit money.
Nigeria Could Develop a Crypto and Blockchain Framework
The Securities and Exchange Commission in Nigeria classified digital assets as securities a few months ago. Now, the regulator and the Ministry of Finance are discussing the creation of a crypto and blockchain framework.
According to recent news, the two bodies want to create a regulatory environment for blockchain. Also, the Nigeria SEC is keen to facilitate the adoption of the technology.
“The general objective of regulation is not to hinder technology or stifle innovation, but to create standards that encourage ethical practices that ultimately make for a fair and efficient market,” the SEC Nigeria stated.
Furthermore, the country is hoping to obtain $10 billion in revenue from blockchain technology by 2030.
Sarafu Network Beneficiaries Soar 40,000
One of Africa’s community currencies project, Sarafu Network, now has 40,000 beneficiaries. The Grassroots Economics initiative is helping communities in rural Kenya to access basic needs like food. To date, users have traded more than 100 million community tokens. In October 2020, for instance, the beneficiaries traded more than 8 million Sarafu tokens for food. During a global pandemic and a declining economy, the Sarafu Network is helping the needy to stay afloat.
Grassroots Economics uses the power of the blockchain to create community inclusion currencies (CICs).
“In a typical community dependent on injections of the national currency – trade will often slow to a crawl and stop due to lack of a national currency as commodity prices increase. As we have seen in Kenya where Sarafu has been distributed to over 40,000 people, in communities with a Community Inclusion Currency trade can continue,” Grassroots Economics Founder Will Ruddick says.
To learn more about Bitcoin, download the Bitcoin Beginner’s Handbook for free.

The post Weekly Roundup: Swahili Blockchain Book Now Available, Binance P2P Volumes Hit $280 Million in Africa appeared first on BitcoinAfrica.io .

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