Author: Akin Naphtal

Safaricom, in collaboration with M-PESA Africa and Sumitomo Corporation, has announced the selection of nine innovative startups for the Spark Accelerator Program, providing a platform for entrepreneurs to expand and develop their businesses. Last year, Safaricom joined forces with M-PESA Africa and Sumitomo Corporation, a Fortune 500 multinational trading and business investment entity. This partnership led to the establishment of the Spark Accelerator following approval from Safaricom’s board and shareholders to reorganise the Spark Fund. The accelerator will harness a team of founders and specialists to expedite product innovation across diverse industry sectors. The selected startups emerged from a rigorous…

In the US, they are more focused on regulation; to make sure users are unable to issue tokens, and that the emission of cryptocurrencies complies with financial regulation. There is less effort to provide accommodating legal frameworks. In general, the EU is more interested in encouraging the deployment of the technology and less afraid of cryptocurrencies and blockchain’s security aspects. China has made any cryptocurrency transactions illegal because they want to control internal monetary movements. They recognise the potential of this technology and use it for their own interest to reinforce their hegemony as opposed to using it as a…

The finance industry is undergoing a seismic shift as digital technologies revolutionize traditional banking and financial services. This digital transformation is driven by a convergence of factors, including changing consumer expectations, technological innovation, and regulatory reforms, presenting both opportunities and challenges for financial institutions and consumers alike. One of the most noticeable changes brought about by the digital revolution is the rise of online banking and fintech solutions. Consumers now have access to a wide range of financial services through digital channels, from opening accounts and applying for loans to managing investments and making payments. This shift towards digital banking…

In traditional online services, power is centralized. Whoever operates the system has the power to shut it down, modify the system’s operation and keep people out of the system. They are the sovereign of the platform and have the ultimate power. In blockchain systems, power is distributed among all the users operating the network. There is a variety of nodes with much less power. The power dynamics are different. That is why we are working on a theory of distributed governance. When power is distributed, participants need to be engaged in distributed governance to get anything done and to understand…

Digital finance continues to reshape the global financial landscape, offering innovative solutions that enhance convenience, efficiency, and accessibility. From mobile banking to cryptocurrency, the proliferation of digital technologies is fundamentally transforming the way individuals and businesses interact with money and financial services. One of the driving forces behind the evolution of digital finance is the proliferation of smartphones and internet connectivity. Mobile banking apps allow users to manage their finances on the go, from checking account balances to transferring funds between accounts. This accessibility has democratized financial services, empowering individuals who were previously underserved by traditional banking institutions. Moreover, digital…

MTN Group has announced that its wholly owned subsidiary, MTN International (Mauritius) Limited, will sell a portion of its stake in MTN Uganda, aligning with Uganda’s regulatory licence terms and MTN’s objective to increase local shareholding in its Ugandan operations. This move by MTN is expected to enhance local participation in the company’s growth and further solidify its commitment to the Ugandan market. In a notice to shareholders on the Johannesburg Stock Exchange, MTN stated, “The offer, although open to investors more broadly, will provide an opportunity for Ugandan retail and professional investors to own a stake in MTN Uganda…

Blockchain is seen as a catalyst of innovation in today’s world of digital infrastructure and social media platforms. Its technology promises to give control of data back to the people through its decentralised manner of operation, and the greater transparency and inclusiveness this yields. Does blockchain lead to a reorganisation of power? Using a combination of computer science, law and political science, ERC grantee Primavera de Filippi looks at the governance of blockchain systems and the ‘invisible powers’ at play. Why is blockchain often described as a ‘trustless’ technology? Blockchain technology was originally created to enable bitcoin operations, so mostly…

It is reasonable to think of your crypto wallet as a safe that holds your cryptocurrency funds. As a practical matter, there’s nothing wrong with envisioning it that way. The underlying reality is quite different, however. A crypto wallet is really a user interface that allows you to query your cryptocurrency’s underlying blockchain for information, receive funds from other users, and send funds to others by writing transactions to the blockchain. Your crypto wallet doesn’t actually hold any funds Wallets Manage Cryptography Bitcoin wallets and other crypto wallets are based on public-key cryptography. The essential elements of a wallet are…

In recent years, digital finance has emerged as a transformative force, revolutionizing the way individuals and businesses manage their financial transactions. From mobile payments to blockchain technology, the landscape of finance is undergoing a profound shift toward digitization, offering unprecedented convenience, efficiency, and accessibility. One of the most significant advancements in digital finance is the rise of mobile payment platforms. With the widespread adoption of smartphones and mobile internet connectivity, consumers can now conduct a wide range of financial transactions directly from their mobile devices. Mobile payment apps enable users to transfer money, pay bills, and make purchases with just…

Digital finance is at the forefront of a revolution, fundamentally altering the way we perceive and engage with financial services. This revolution encompasses a myriad of technological innovations, regulatory shifts, and changing consumer behaviors, all of which are reshaping the financial landscape in profound ways. One of the defining trends in digital finance is the rise of mobile banking and payment solutions. With smartphones becoming ubiquitous and internet connectivity reaching even remote areas, mobile devices have become the primary channel for accessing financial services. Mobile banking apps offer users the flexibility to manage their finances anytime, anywhere, while mobile payment…