The cryptocurrency exchange and crowdsale software provider IBITx Software Inc. will start to offer support to blockchain companies and start-ups in their development phase in Africa. This is one of the several projects related to blockchain and cryptocurrencies that are starting to take place in the African continent.
AFRIBITx.com To Assist Blockchain Companies
IBITx has decided to keep expanding across the globe by announcing the creation of a new brand known as AFRIBITx.com. The main purpose is to help starting companies, ideas, and start-ups, to develop their projects in Africa.
IBTx will be working with its team located in India, Philippines, and South Africa, in order to spread an effective use of blockchain technology across all the African continent. The brand will not only be a blockchain incubator, but it will also try to settle itself as an exchange and crowdsale platform.
Rose Marie D. Araos, CEO of IBITx Software Inc. commented:
“Our intention is to launch in partnership with a financial service provider a regulated environment in at least 2-8 African Countries to start ideally by June 2018. The system’s skeletal structure is available for testing, however, we are still endeavouring to negotiate with regulated brokers and regulatory organizations as to which Country will house the first African Blockchain incubator, Exchange, and Crowdsale system.”
IBITx is not a traditional cryptocurrency exchange, but it offers the possibility to ICOs to match individuals interested in buying these new tokens. In Africa, there are some promising ICOs that could be taken into account for AFRIBITx operations in the continent.
Cryptocurrency and Blockchain Community in Africa
Some countries in Africa are moving towards virtual currencies and blockchain technology. Even when the prices worldwide are falling, and the interest for Bitcoin has diminished, Africa remains very active.
South Africa is the most interested country in Bitcoin, according google trends. As we wrote in the past, South Africa scores 100 in the bitcoin‘interest by region’score that Google provides.
“Values are calculated on a scale from 0 to 100, where 100 is the location with the most popularity as a fraction of total searches in that location, a value of 50 indicates a location which is half as popular. A value of 0 indicates a location where there was not enough data for this term.”
Other regular crypto-related events take place in different capitals and cities, like the Blockchain Africa Conference, or the Blockchain Nigeria Conference hosted by the Blockchain Nigeria Group.
Another example of the increased activity in the region can be seen on the prices of the cryptocurrencies. In Zimbabwe, a country that does not have its own currency, bitcoin and other virtual currencies were traded at premium prices. The demand was higher than in other countries, and there was not enough offer in the market.
With AFRIBTx, Africa will be potentiating its blockchain and crypto industry to the next level. There are several promising start-ups in the continent that could receive an important boost from AFRIBTx.