Community Currencies in Kenya launched by Bancor

Bancor is collaborating with Grassroots Economics in order to tap into local Kenyan economies
22 June 2018   532

Cryptocurrency network Bancor has declared on June 18 about the run of “blockchain-based community currencies” in Kenya. As an official statement from the company claims, the currencies have been deployed to “[combat] poverty through the stimulation of local and regional commerce and peer-to-peer economic collaboration.” 

The currencies will be supported with money grew during Bancor $153 million ICO in June of last year. The initiative will be controlled by Will Ruddick, Bancor’s Nairobi-based Director of Community Currencies. Before this position, Ruddick constructed Grassroots Economics, a nonprofit that creates community currencies. Presently the nonprofit is serving more than 20 schools and 1,000 local businesses and works in partnership with the Kenyan government.

Communities should be afforded the same privileges as nations to develop their own prospering economies with the stability of their own currencies.
Will Ruddick
Director of Community Currencies, Bancor

Ruddick and the team at Grassroots will apply Bancor’s protocol in order to expand Grassroot’s existing paper currency system into a blockchain-built network. Firms from around the world who boost this initiative will be able to acquire and sell local currencies using major cryptocurrencies or credit, making it possible to rise the value of the community currencies from afar. The project will be initially piloted in Kibera and Kawangware, characterized by Bancor as “the two largest underserved neighborhoods in Kenya.”

Bitcoin Cash Hardfork Implemented

Hardfork of a hardfork... just don't get confused in this crazy world of cryptocurrency
16 November 2018   81

Today, on November 15, a hardfork was implemented in the Bitcoin Cash (BCH) network. The first block in the Bitcoin ABC blockchain has mined a pool of Bitcoin.com.

The last “common block” was # 556,766, mined by SVPool. on which the protocol update was activated.

Bitcoin SV got its first block. Now we can definitely talk about the division of Bitcoin Cash into two competing blockchains. Roger Ver, right before the hardfork, said that his pool had sent a significant amount of power to mining Bitcoin ABC.

Bitfinex exchange announced the transfer of BAB and BSV coins to the accounts of BCH holders.

Poloniex converted all BCH balances into assets BCHABC and BCHSV. At the same time, the BCH market became unavailable. Instead, the BCHABC / BTC, BCHSV / BTC, BCHABC / USDC and BCHSV / USDC trading pairs appeared. I / O of BCHABC and BCHSV is not yet available, but will open when the network stabilizes.