Skip to main content

South African to head up global Bitcoin Foundation

Cape Town based venture capitalist Llew Claasen has been appointed as executive director of the global Bitcoin Foundation.
The Bitcoin Foundation, which was founded in 2012, aims to promote the use of the cryptocurrency.
Claasen - who is described as a technology startup “go-to-market strategist” - joins another South African, board member Vinny Lingham, as part of the Bitcoin Foundation.
Both Claasen and Lingham are partners of local investment firm Newtown Partners. But in a press statement, Lingham said he recused himself from the board vote owing to his “long business relationship and friendship with Claasen”.
Nevertheless, the board still voted in Claasen who replaces outgoing Bitcoin Foundation executive director Bruce Fenton.
Claasen’s appointment as executive director is effective from July 1.
“Broadly speaking, we're the oldest and largest Bitcoin advocacy group globally,” Claasen told Fin24.
“I'll be working with our Board, the developers, customers and other ecosystem players over the next few weeks to put together a plan that enables us to increase the adoption of Bitcoin worldwide,” Claasen added.
Vinny Lingham - who shot to Silicon Valley fame in the US when he sold his virtual gift card service Gyft to First Data for over $50m in 2014 - has also commented on Claasen’s appointment.
Lingham now heads up US-based identity protection startup Civic.
“I’ve known Llew for many years and have worked with him in several capacities,” said Lingham in a statement.  
“I think he will be a perfect fit for the organisation as we build on the significant progress we have made,” Lingham added.
Meanwhile, Claasen’s appointment at the Bitcoin Foundation comes amid the cryptocurrency coming under particular focus in the last few weeks over its surging price.
Over the last month, the price of Bitcoin on South African linked exchange BitX has increased almost 40% from R7 496 on May 22 to R11 169 on June 21 amid weaknesses in China’s Yuan and an impending halving event for miners of the currency.
But the cryptocurrency has started to experience a downward turn this week as on Tuesday, the price of a Bitcoin on BitX had fallen around 14%.
Link:http://www.fin24.com/Tech/News/south-african-to-head-up-global-bitcoin-foundation-20160621

Comments

Post a Comment

Popular posts from this blog

Police Bust Alleged $13 Million Crypto Pyramid Scheme

Police in China's northwestern city of Xi'An have arrested the founders of a claimed nationwide cryptocurrency pyramid scheme that allegedly amassed 86 million yuan ($13 million) from over 13,000 people. According to a report  from local media source Huashang News, Wednesday, the scheme launched in March 28 this year after months in preparation by a primary suspect who has has the surname Zheng, as well as three other accomplices. The report cited an investigation from the police who said the scheme used a cryptocurrency called Da Tang Coin (DTC) that is linked to DTC Holding  - a firm under the suspect's control and registered in Hong Kong - to allegedly hoax potential members of the pyramid scheme. In various promotional events in multiple cities in the country, the scheme claimed that new members can make 80,000 yuan (roughly $13,000) per day with an initial investment of $480,000 to purchase the DBTC at $0.50 per token, according to the report. These promises of
Post a Comment
Read more

Duncan Logan just tweeted that he's on board Electroneum

I have been a buyer and holder of bitcoin and Etherreum for a long time but this will be the first ICO I buy into--Duncan Logan. What is Electroneum? Electroneum (ETN) is a cryptocurrency that can be mined with a smartphone, requiring almost no technical knowledge or prior experience. This sets it apart from other cryptocurrencies (like Bitcoin) which require expensive hardware and technical know-how to mine. Electroneum’s unique mobile mining experience allows anyone with a smartphone to earn ETN coins by letting the miner app run in the background. It was designed specifically with mobile users in mind, thereby appealing to a potential market of 2.2 billion smartphone users around the world. Unlike other cryptocurrencies, Electroneum has a user-friendly, beginner-oriented interface that allows users to seamlessly transfer ETN coins between one another, check their balances, and mine coins. Being a  cryptocurrency , Electroneum is created, held, and spent electronically, and h
Post a Comment
Read more

Exmo Bitcoin exchange manager kidnapped in Kiev

A manager of the Exmo Bitcoin exchange has been kidnapped in Ukraine. According to Russian and Ukrainian media reports Pavel Lerner, 40, was kidnapped while leaving his office in Kiev's Obolon district on 26 December. The reports said he was dragged into a black Mercedes-Benz by men wearing balaclavas. Police in Kiev confirmed to the BBC that a man had been kidnapped on the day in question, but would not confirm his identity. A spokeswoman said that the matter was currently under investigation, and that more information would be made public later on. Mr Lerner is a prominent Russian blockchain expert and the news of his kidnapping has stunned many in the international cryptocurrency community. Exmo described him as an analytics manager. Blockchain is the technology that underpins the digital currency Bitcoin. Exmo Finance is registered with Companies House in the UK, but has its main operations in Ukraine. According to its website, it has 94,955 active users tra
Post a Comment
Read more