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Weekly Roundup: Standard Bank Group Becomes First Hedera Node Operator in Africa

Weekly Roundup: Standard Bank Group Becomes First Hedera Node Operator in Africa
In this week’s news roundup, we will highlight the partnership between Standard Bank Group and Hedera Hashgraph, and more.
Standard Bank Group Becomes First Hedera Node Operator in Africa
Standard Bank Group has become the first Hedera node operator in Africa. The South African bank has also become a member of the Hedera Governing Council.
According to the bank, the partnership is part of its goal to facilitate cross-border trade on the continent using DLT.
“As an organisation, we have established that blockchain technology can track and leapfrog legacy issues that prevent a seamless and transparent payment experience for the customer, which ultimately enables cost savings for all stakeholders,” comments Adrian Vermooten, Standard Bank’s Chief Innovation Officer.
CEO of Hedera, Mance Harmon, said there is a “strong interest from companies” in Africa to leverage DLT for use cases like healthcare, identity, and supply chain.
Pilot Stage of Akoin Wallet Deployment in Kenya Is Now Complete
The pilot stage of the Akoin wallet implementation in Kenya is now complete. The Akoin project rolled out the pilot phase at the Mwale Medical and Technology City (MMTC).
“[We have used] Akoin (AKN) successfully to perform payroll, shopping, and dining transactions at MMTC. [Furthermore, we] piloted the Akoin wallet for performing payment transactions at Hamptons hospital since November 2020. We will fully implement Akoin at MMTC after the end of the current pilot program in July. By the end of 2022, Akoin will be the exclusive blockchain payment platform at MMTC,” MMTC wrote in a report.
Senegalese-American singer Akon is behind the Akoin project. The project will drive the use of the Akoin token at MMTC and Akon City, which is under construction in Senegal. At MMTC, users will utilise Akoin at retail stores, in payroll payments, and to pay for plane tickets.
The project will use lessons from the MMTC implementation as a blueprint for expanding token use across the continent, according to co-founder Lynn Liss. Moreover, the project plans to roll out a physical card linked to the Akoin wallet. The card will enable customers to transact across 40 million merchant platforms globally.
Tesla Makes More Profit on Bitcoin Than 2020 Car Sales
According to Wedbush Securities, a US research firm, Tesla has profited more from its $1.5 billion bitcoin investment than its 2020 car sales.
The firm’s analysts estimate that the electric car company has already made a profit of about $1 billion. This is in contrast with the $721 million profit Tesla reported for the 2020 fiscal year. Note that the firm is making this estimate on the assumption that Tesla has not sold its bitcoin.
Wedbush analysts believe Tesla’s bitcoin investment will have a ripple effect. More companies could also invest in bitcoin or start accepting bitcoin payments.
To learn more about Bitcoin, download the Bitcoin Beginner’s Handbook for free.

The post Weekly Roundup: Standard Bank Group Becomes First Hedera Node Operator in Africa appeared first on BitcoinAfrica.io .

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