With banks in Europe, America and Asia doing “everything to crush cryptocurrencies,” Binance CEO CZ says Africa can become a leader in their implementation. The major crypto exchange is thinking about opening an office in Uganda and we have covered the story in today’s Bitcoin in Brief. Also, online trade with cryptos spikes in Bahrain, while in Georgia, luxury real estate is being sold for bitcoin. All this has been happening in an otherwise bearish May.
Binance to Open Office in Uganda
Binance is considering the possibility of opening a new office in Uganda, company CEO Changpeng Zhao revealed at The Africa Blockchain Conference 2018, which took place at the end of May in Kampala, the country’s capital. The move is part of the trading platform’s plans to support the economic transformation of the African nation and increase youth employment through blockchain technology implementation. The leading cryptocurrency exchange has offices in Japan, Hong Kong, Malta, and intends to establish a global compliance center in Bermuda.
With the help of companies like Binance, “Uganda will be able to join the 4th Industrial Revolution, subsequently a lot of new jobs will open and the flow of investment into the country will increase,” Zhao said. “Watching this conference I was very impressed by the enthusiasm of Africans to introduce cryptocurrency and blockchain technology. It was surprising to see that cryptocurrencies enjoy not only an increased interest from the people, but also the active support of many representatives of African banks and government officials,” he stated.
In April, Binance’ CEO announced a partnership with Crypto Savannah, an African blockchain innovation hub, Msingi, an organization working to build the East African industries of the future, and the “Made in Africa” Initiative. In a
