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The recent announcement by Vendibit, a South African blockchain firm, opening its first commercial cryptocurrency ATM at the Spar-Northwold, Johannesburg is an indicative sign that there is a serious demand by consumers to invest in the ‘alternative economy’ and corporate entities are being forced to take notice.
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At Benchmark Token we’ve experienced an ever-growing interest and demand for cryptocurrency investment in emerging markets like Africa. South Africans are very eager to invest in cryptocurrency as the need to diversify investment portfolios to avoid, especially in South Africa, the volatility of the economy which is often influenced by unavoidable micro-economic factors has seen the demand for cryptocurrency greatly increase. South Africa’s unstable political environment influences consumer appetite, confidence and willingness to invest.
In South Africa alone there were almost 300 000 cryptocurrency investors last year according to media reports. According to a recent survey conducted by venture capital firm, Blockchain Capital, 30% of those in the 18-to-34-age range would rather invest $1,000 in Bitcoin than $1,000 in government bonds or stocks.
We’ve seen how the property market has been adversely affected by political rhetoric, perpetual spiking in consumer tax and stricter banking criteria. Consumer price pinches have occurred regularly over the past few years and the man on the street carries the brunt of the burden.
The manifestation of this global alternative economy has created even greater cryptocurrency investment options, with value-based cryptocurrency alternatives providing investors with far more stability and market returns as the token is underpinned by global business development projects.
As is the case with South African and global consortium – Benchmark, called the Venture token, due to its venture funding models and commitment to working on development projects in Africa and abroad. Although Benchmark is based in Malta, it is mainly South African investment, fintech and academic experts that are part of the global consortium managing Benchmark and presenting it to market. Benchmark Venture Capital aims to find and fund powerful real businesses that create and growth and long-term value.