iAfrikan Daily Brief - South African Reserve Bank, Linda Ikeji, Seedstars Africa & Electronic Arts
Wednesday, 02 November 2016
South Afican Reserve Bank Uses Ethereum Blockchain
In possibly a first for Africa, the South African Reserve Bank (SARB) along with the Payments Association of South Africa, Financial Services Board, Strate and some of the country's major banks, namely Investec Bank, ABSA, Rand Merchant Bank and Standard Bank successfully managed to circulate a smart contract on an Ethereum based blockchain private network set up among themselves. It's reported that the financial services organisations involved in the project had developed and tested the solution for issuing syndicated loans via blockchain. The proposed blockchain solution for syndicated loans will combine cryptocurrency traded on an electronic exchange with smart contracts. It is further expected that this new blockchain solution will bring transparency to the financial markets on top of shortening the settlement times and hopefully lower transaction costs. Currently, the process is mostly manual and involves extensive due diligence and administration leading to transactions taking up to weeks to settle.
Linda Ikeji Launches Social Network
Credit: Linda Ikeji Social
One of Nigeria’s leading bloggers in terms of readership and possibly revenue, Linda Ikeji, has launched a social networking platform. Although Linda punts the new platform as a social network it also includes a news feed of content from her popular blog along with allowing registered users to sell their eye witness news to the Linda Ikeji blog along with selling and buying goods and services from each other. The main differentiator from the onset is that users can make money by being registered on Linda Ikeji Social. Linda’s blog already generates millions in terms of revenue and visitors on a monthly basis and this has helped getting Linda Ikeji Social traction on its first day of launch with thousands of users registering and interacting on the platform.
Seedstars Africa Goes To Kigali
After their continental tour visiting more than 20 cities in 15 different countries in Afrika throughout 2016, Seedstars will be hosting their annual Africa Summit in Kigali, Rwanda. During their city events they host startup bootcamps and training which culminate with the best startups in each city being afforded the opportunity to pitch and win a place to go to the final competition in Switzerland. At the summit in Kigali there will be entrepreneurs, mentors, experts and investors who will share knowledge with the added aim of connecting regional/global stakeholders to promote and strengthen entrepreneurship and innovation in Africa. Also, the Seedstars World local winners will take part in an intensive Bootcamp and an investor day.
Electronic Arts Scores A Goal With Financial Results
Credit: Electronic Arts
It appears that Electronic Arts (EA) still “Got Game”. Their sales of FIFA football games and mobile games, Electronic Arts beat its earnings expectations for the second financial quarter of 2016 which ended on 30 September 2016. EA reported earnings per share of 70 US cents on revenue of $1,1 billion for the reporting period. They also reportedly benefited from continuing success of their Star Wars console and mobile titles, as well as the release of FIFA Mobile. According to financial analysts, EA was expected to report earnings per share of 43 US cents a share on revenue of $1.09 billion. This is a quite an achievement given how most of EA’s mobile phone games are free to download and play and rely on in-game purchases to generate revenue.