Economy Hub: Is Bitcoin a real threat to the traditional currencies?

Economy Hub: Is Bitcoin a real threat to the traditional currencies?

Sport
[ad_1] Bitcoin has surged in global value this week to more than US$7800 ($11,382). It leapt to more than US$13,000 per bitcoin in Zimbabwe. The political turmoil there has made it a safe currency. That, more so than the fact that it's a crazy speculative investment, is what is forcing governments and banks to pay attention to the technology-driven barter system. The complex technology and rules around bitcoin and other so-called cryptocurrencies can make it a difficult topic for many of us. Bitcoin is a blockchain technology - another confusing word. A good start is to think of blockchain as a giant digital ledger that records every transaction ever made in bitcoin.This week on The Economy Hub I talk to Herald technology writer Juha Saarinen about how it works and…
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Zuma corruption charges ‘concerning’ for SA economy – Gigaba

Zuma corruption charges ‘concerning’ for SA economy – Gigaba

Economy
[ad_1] Cape Town - Minister of Finance Malusi Gigaba has said that it's “quite concerning” for the South African economy that corruption charges against President Jacob Zuma have been reinstated, saying it “raises the political risks”. He also said that he is in “full support” of a judicial commission of inquiry into corruption across South Africa. Gigaba said this during an interview with CNN’s Richard Quest in Washington. The minister was in Washington as part of a delegation representing South Africa at the 2017 Annual Meetings of the International Monetary Fund and World Bank Group. He told Quest that “from another angle", the reinstatement of the charges against Zuma “affirms the independence of our courts, the supremacy of the rule of law and the Constitution as the supreme law of…
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State of economy hinges on ANC succession outcome – economist

State of economy hinges on ANC succession outcome – economist

Economy
[ad_1] Johannesburg – The future of the South African economy hinges largely on the outcome of the ANC elective conference in December, according to economist Johann Els of Old Mutual.Speaking at the Old Mutual Investment Group’s quarterly investment briefing on Wednesday, Els, the group's head of economic research, said that South Africa was missing out on the opportunities that come with a global economic recovery because of political and policy uncertainty.“We are all waiting for the elective outcome. I do not know what the outcome will be, but a positive outcome can substantially change sentiment,” he said.The ANC's 54th National Conference, which will chose a successor to ANC President Jacob Zuma, is set to take place between December 16 and 20 in Gauteng. “There is lots of pessimism around, highlighted in business…
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Village Tourism critical for local economy

Village Tourism critical for local economy

Travel
[ad_1] Premier of the North West Supra Mahumapelo has urged tourism product owners and those who are aspiring to venture into tourism to consider Village Tourism as one prime area that has not been explored.  The Premier was speaking during the Provincial Tourism Trade and investment Lekgotla held in Mmabatho Convention Centre. According to Premier Mahumapelo many tourists are more interested in exploring and acquiring cultural and traditional experience.  He said that there is a need to start cultural villages across all the over 600 villages within the province. “I urge investors to look into expanding their business to Villages Townships and Small Dorpies. People are interested in acquiring indigenous knowledge and also keen to learn more about the history of VTSD areas. I would also like to urge financial institutions to further open doors for emerging entrepreneurs especially…
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