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Modex looks to tap into growing African crypto market
Bitcoin prices have repeatedly hit multi-month highs today, rising to the most since May and then fluctuating within a reasonably tight range. The world’s most prominent digital currency climbed to $50,352.00, for more on the crypto currency world CNBC Africa spoke to Mihai Ivascu, CEO of Modex.
Fri, 03 Sep 2021 14:47:10 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Bitcoin prices surge to new highs as El Salvador adopts Bitcoin as legal tender, signaling the adoption phase of cryptocurrency
- National e-currencies are emerging as a way to enhance transparency and tax collection, utilizing blockchain technology
- Modex plans to launch an electronic medical record system in Nigeria, revolutionizing healthcare with secure blockchain solutions
Bitcoin prices have been hitting multi-month highs, reaching $50,352.00, driven by factors like El Salvador's adoption of Bitcoin as a currency. Mihai Ivascu, CEO of Modex, believes we are in the adoption phase of cryptocurrency, with governments and institutions showing increasing interest in blockchain technology. Ivascu emphasizes the need for due diligence in the volatile market, where some cryptocurrencies lack underlying value and are purely speculative plays. He also discusses the rise of national e-currencies as a means for better transparency and tax collection. Modex's foray into the African market includes a groundbreaking project in Nigeria, offering an electronic medical record system that enables parents to track their children's vaccinations and medical data securely on the blockchain. This initiative highlights the potential for blockchain technology to revolutionize healthcare in Africa.
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