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Women are key to the future of the Crypto-Economy

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Pictured here: Helen Brand, Marketing Manager for non-profit GROW with Educare Centres (Grow). As part of its #builtwithbitcoin initiative, Paxful recently donated funds to Grow. Grow empowers qualified, passionate women to own and run successful high-quality Early Childhood Development (ECD) centres, such as daycares and pre-schools, in low-income communities using the principles of social enterprise and micro franchising (Source: Paxful)

While looking into expanding its presence in South Africa, Paxful is hoping to nurture as much female talent as possible

JOHANNESBURG, South Africa, August 28, 2019 – Paxful planning to expand presence in South Africa. Plans Africa-wide recruitment drive with a focus on women; The global bitcoin marketplace also becomes the first bitcoin peer-to-peer marketplace to launch an app.

As South Africa celebrates Women’s Month in August, global peer-to-peer bitcoin marketplace, Paxful, supports the important role that women are playing, and should continue to build on, in the innovative blockchain technology and cryptocurrency sector.

While looking into expanding its presence in South Africa, Paxful is hoping to nurture as much female talent as possible. Almost 40% of Paxful’s employees are women and the company is set to further increase female appointments in its offices across the globe, located in New York City, Hong Kong, Estonia, and the Philippines.

While overall female participation in the broader crypto-economy, according to several sources including WEF , is estimated at between 1% – 5% globally, Paxful believes that growing female participation in crypto will be key to the sector’s continued innovation and success. “Women are critical to the future of the crypto-economy and we are committed to fostering more diversity and supporting efforts to attract more women to make their mark in the industry” says Ray Youssef, co-founder and CEO of Paxful.

Also Read Lillian Barnard: Tech Enthusiast And First Female Managing Director, Microsoft South Africa

Youseff adds: “We’ve already seen the incredible contribution that women have made to the technology sector overall as founders, developers, product managers, investors and more. The crypto-economy could greatly benefit from the rich diversity of skills, perspectives, experiences and many other unique resources that women can offer. Further, in my opinion, women are decidedly better community builders, which is a very important factor in driving a peer-to-peer economy like the crypto space. At Paxful globally, many of our senior leadership roles are held by women.”

Millenial Women

With millennials making up the bulk of Paxful’s customers in Africa, Paxful‘s recruitment drive in Africa includes a Student Ambassador Programme on tertiary institution campuses across the continent. Female participants from Johannesburg and Cape Town are already the top performers in the Programme. The Programme – made up of a series of workshops – educates and empowers youth who are interested in entering the crypto-economy and especially encourages entrepreneurship in the crypto-sector. To extend the Programme’s impact, students who participate in the initiative are financially incentivised to educate their peers about the bitcoin economy. To date, Paxful’s University education outreach has engaged more than 1000 students.

Paxful also launches a mobile app

With over 2,5 million users globally and Africa being one of its top markets, Paxful has gained valuable insights into how consumers are evolving their use of digital currencies like bitcoin. Based on these insights, Paxful has become the first global peer-to-peer marketplace to have launched an official wallet app to make buying, selling, and storing bitcoin easy and secure for customers while on the move. The app has been available since May this year for both Android and iOS devices.

Commenting on the app Youseff says, “Our app allows us to make our platform more accessible to communities around the world. The majority of our customers access our website through their mobile devices, and this is just another step in that direction.”

“Our goal is and always will be to empower individuals through presenting the entrepreneurial opportunities of bitcoin and peer-to-peer finance. We all have our part in levelling the playing field and to ensure equal opportunity to pioneer the peer-to-peer financial revolution,” concludes Youssef.

–  Paxful.

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Banks across Africa Turn to IBM Hybrid Cloud and AI Solutions to Accelerate Digital Innovation

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IBM Hybrid Cloud General Manager, Alan Peacock and IBM General Manager for IBM North, East and West AfricaAngela Kyerematen-Jimoh (Image: Supplied)

IBM (NYSE: IBMtoday announced that major financial institutions across Africa have selected hybrid cloud and AI capabilities from IBM to unlock digital innovation and continue their work to develop digital-first solutions, ultimately broadening access to financial services on the continent.

COVID-19 continues to accelerate the already rapid changes that were happening across the financial services sector in Africa, fast-tracking the adoption of digital technologies to boost financial inclusion. With over 475 million Africans expected to be mobile internet users by 2025 GSMA –The mobile economy sub-Saharan Africa 2020, digital and mobile play a critical role in facilitating the delivery of digital financial services to consumers who transact on their mobile phones. As banks focus their efforts on open innovation, security and high-value services, hybrid cloud solutions have become increasingly important to deliver seamless and secure digital banking experiences.

“Enterprises, especially those in highly regulated industries like financial services, face unique challenges when it comes to balancing innovation and regulatory compliance,” says Alan Peacock, General Manager, IBM Cloud. “For decades, IBM has been fueling the transformation of the financial services industry, bringing IBM’s trusted industry experience and leadership in security and data privacy to help banks modernize, transform operations and drive innovation.”

According to IBM’s COVID-19 future of business study, more than 59% of the organisations that participated said that the pandemic accelerated digital transformation, and more than 75% of responding executives indicated they expect changed customer behaviour to continue after COVID-19. As companies in the financial services sector are speeding up transformation, IBM hybrid cloud and AI solutions are supporting their drive to accelerate digitalisation in different parts of the continent.

“In the past year we have seen banks navigate changes brought on by a growing preference for digital and mobile solutions, increasing smartphone penetration and the demand for convenience, innovation, and simplicity from today’s modern consumer, says Angela Kyerematen-Jimoh, Regional, General Manager for IBM North, East and West Africa. “As banks across the continent take advantage of the opportunity to provide digital financial services which boost financial inclusion, IBM is working with Africa’s leading financial groups to deliver intelligent, cloud-based, digital-first innovation through IBM’s hybrid cloud and AI capabilities.”

Ecobank, the pan-African banking conglomerate, with banking operations in 33 African countries, has adopted a hybrid cloud approach to extend its reach to millions across Africa.  Using IBM Cloud, Ecobank migrated their flagship mobile banking application to leverage the on-demand capacity of resources that can support sudden spikes in traffic on its mobile banking services. Ecobank also has access to other IBM cloud services that can be used to develop more innovative, digital-first solutions to enhance their own client experience.

With over 12 million customers on its flagship mobile application, Ecobank is on an accelerated digital banking transformation journey and is set out to expand its digital offerings and grow the 30 million digital transactions it already processes on its platforms. As part of this journey, the Pan-African banking conglomerate has built scalable business solutions which allow for ease of integration with third-party providers using their open digital banking platform for a growing customer base.

Pan-African bank, Nedbank has set out to deliver superior digital experiences to customers. To achieve this, the bank is modernising its core banking applications with a hybrid cloud strategy and has partnered with IBM to help bring digital products and services to life.

To take advantage of the flexibility and agility offered by modern cloud technologies on this digitalisation journey, Nedbank explored a hybrid multi cloud approach, adopted the IBM Garage methodology to implement IBM Cloud Pak for Integration. Through IBM Garage, the bank was able to deep dive and explore fresh solutions and in a week achieved what would have taken them months. Faced with the need to integrate complex legacy systems, Nedbank turned to IBM Cloud Pak for Integration to help build a simplified and standardised integration approach to their cloud strategy. This enables Nedbank to shift their legacy applications into the cloud and integrate with other cloud-based applications they are consuming as they modernise and position for future innovation.

Attijariwafa Bank, the Pan African Banking and Financial Group, has adopted IBM hybrid cloud solutions software to advance the digitisation of its banking operations, and quickly bring new digital services to its customers, all in a secure and flexible environment. Using IBM Cloud Paks that are built on Red Hat OpenShift, the leading bank will streamline and better integrate front-and back-office processes and to modernise business and IT operations.

By deploying IBM Cloud Paks, Attijariwafa bank will modernise and manage its core banking applications like its corporate banking application, on a secure, integrated and easily scalable environment. This will allow a rich and simple customer interaction while decreasing the time to bring new offerings to market. It will also enable the banks’ employees to focus their effort and time on serving their customers better.

This collaboration with IBM supports the digital transformation strategy of the bank and facilitates a full modernisation of the bank’s operations in an open, hybrid cloud environment.

United Bank for Africa Plc (UBA), Africa’s global bank operating in 23 countries globally and with headquarters in Nigeria, has set a goal to grow its transaction volume significantly over the next few years and to deepen retail market penetration. To achieve this, they would be required to attract the unbanked, acquire new customers through digital banking and retain existing customers by adopting a “No Transaction Must Fail (NTMF)” initiative.

Using IBM POWER9-based servers, Flash system storage and IBM PowerVC (Power system virtualization & cloud management), UBA set up a scalable, private cloud environment that is cost-effective taking the first step towards embracing a hybrid cloud model.

Customers’ needs are evolving as they seek banking services across channels and expect personalization. Co-operative Bank of Kenya turned to IBM to modernize their core banking platform and reach their customers on different channels including mobile and online while offering customized services driven by insights. For this, they required a technology that would also empower their employees who work across teams to simplify processes, optimize customer data, while also achieving goals like reducing infrastructure and maintenance costs. With IBM Power and FlashStorage solutions, they now derive improved insights on customer data, faster query resolutions, quicker time-to-market on new services across channels – all backed by high available, scalable, cloud-and AI-ready technology.

Banco Mais, a leading bank in Mozambique, turned to IBM to help streamline its business processes and reduce turnaround times for customer-facing services. In the face of a growing competitive market locally, Banco Mais needed to develop financial service products faster to retain and gain market share.

Banco Mais implemented IBM Business Process Manager on Cloud service and was able to start projects quickly and deploy process application solutions without the need to build the IT infrastructure. By turning to this IBM Cloud solution, they could develop, test, run and monitor their business processes at a fraction of the time it would otherwise have taken. As a result, Banco Mais reduced turnaround time for loans by 60% and decreased the time it took to implement services that took 3 to 4 months by 85% to improve customer experiences.

Earlier this year, IBM announced the general availability of the industry’s first financial services-ready cloud platform, IBM Cloud for Financial Services, as well IBM Cloud Satellite. First revealed in 2019, the IBM Cloud for Financial Services is designed to help reduce risk for financial institutions, their partners and FinTechs, and innovate quickly with built-in controls that are adhered to by the entire ecosystem. IBM Cloud Satellite brings a secured, unifying layer of cloud services for clients across environments, regardless of where their data resides, delivering security, data privacy, interoperability and open standards found in hybrid cloud environments.

 

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STEMbees: Aburi Girls Senior High School To Represent Ghana at Global Robotics Competition

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STEMbees -Twelve students from the Aburi Girls’ Senior High School in the Eastern region are representing Ghana this year in the 2021 FIRST Global Challenge – the fifth iteration of the global Olympics-style robotics event. This year’s theme, “Discover & Recover,” focuses on overcoming the COVID-19 pandemic by discovering opportunities for innovative recovery and will have participants represented from over 160 countries participating. From social projects to miniature satellites to robot design, teenagers from around the world are required to develop solutions to problems the COVID-19 pandemic has presented.

The all-girls Team Ghana is being mentored by the STEMbees Organisation and will be a part of this virtual season which began on 27 June 2021 and will end on 28 September 2021. There are three main components which are a Solutions challenge, a CubeSat challenge and a Robotics challenge.

In the Solutions Challenge, teams are to innovate STEM (Science, Technology, Engineering and Mathematics) solutions to local problems resulting from the pandemic in the areas of education, environment, health and economy. Team Ghana’s solution is focused on making biodegradable nose masks from plantain fibres that are more comfortable and do not require strings to wear.

“At STEMbees we encourage young women to become problem solvers using technology. The problem this team identified is that a large number of Ghanaians do not properly dispose of the single-use nose masks. These disposable nose masks are made of polypropylene, which takes a long time to decompose and can carry a wide range of viruses including the coronavirus into water bodies, soil and ultimately to animals and back to us humans if not properly disposed of. Also, many people complain that the masks are uncomfortable to wear, causing them to wear them wrongly or not at all,” shares Angela Koranteng, a co-founder of STEMbees.

It has been discovered that plantain trees are readily available across the country. Often their stems are left to rot after the fruits are harvested. However, these pseudo-stems of plantain trees can be recycled into fiber, reducing wastage, and providing an affordable alternative to cotton to help produce more eco-friendly nose masks.

Aburi Girls SHS Students (Image: Supplied)

“An exciting part about this year’s FIRST Global Challenge is the prototyping of a CubeSat. The girls are designing and building a CubeSat miniature satellite prototype and will launch it into the lower layers of Earth’s atmosphere on 25th September 2021 at their school,” adds Koranteng.

Climate change has made our weather unpredictable with rapidly changing seasons and Team Ghana’s mission for the satellite prototype is weather monitoring (measuring temperature and aerial photos of clouds) as well as assessing air-quality within the Aburi area. Their CubeSat prototype will include a mini-camera, a digital temperature sensor and a laser particle sensor in a 3d printed cube box.

 

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Twitter introduces new feature to automatically block abusive behavior

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Authored by Amer Owaida, Security Writer at ESET (Image: Supplied)

Dubbed Safety Mode, the feature will temporarily block authors of offensive tweets from being able to contact or follow users.

Twitter has unveiled a new feature called Safety Mode, aimed at curbing abusive behavior by autoblocking any unwanted tweets and other forms of online harassment. Currently the feature is available to a handful of users.

“Unwelcome Tweets and noise can get in the way of conversations on Twitter, so we’re introducing Safety Mode, a new feature that aims to reduce disruptive interactions. Starting today, we’re rolling out this safety feature to a small feedback group on iOS, Android, and Twitter.com, beginning with accounts that have English-language settings enabled,” said Twitter in a blog post introducing the new feature.

When the Safety Mode feature is enabled it will briefly block accounts for a period of seven days for using abusive language such as insults or loathsome comments, as well as for sending out repetitive or unsolicited mentions.

Once the feature is turned on, Twitter’s systems will analyze the tweet’s content, the relationship between the tweet’s author and replier, and whether there is a probability of negative engagement. The technology also looks at the relationships; if the user regularly interacts with those accounts or follows them, then it won’t autoblock them.

However, if Twitter’s technology evaluates that the tweets do contain any offensive material, their authors will be autoblocked in short order. This means, temporarily, they won’t be able to follow you, see your tweets, or even contact you using direct messages.

Users will have the option to review the details of flagged tweets and autoblocked accounts from the Safety Mode menu at any time. Additionally, they’ll also receive a notification summarizing this information before each Safety Mode period ends.

That being said, the social media platform concedes that the system isn’t perfect. “We won’t always get this right and may make mistakes, so Safety Mode autoblocks can be seen and undone at any time in your Settings. We’ll also regularly monitor the accuracy of our Safety Mode systems to make improvements to our detection capabilities,” said Twitter.

The social media giant has worked with various partners from its Trust and Safety Council during the development of the new feature. Its main aim is to better protect users by reducing the frequency of hateful comments. In the meantime, it will keep on observing how the new feature operates and will add improvements along the way before it rolls Safety Mode out to all of its users.

Harassment and other forms of abusive behavior on social media have become a perennial problem, and social media platforms have been working hard to stomp it out for some time now. Earlier this year Instagram also rolled out its own set of features aimed at helping prevent cyberbullying.

 

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