Happy Tuesday!
Aaaand we’re back after a week off! The break might have to do with work and being demotivated to get shit done. However, I’m super excited to send out another issue today.
When faves link up
Microtraction, a fund that “invests in Africa's most remarkable teams with technical founders at the earliest stage of their venture” last week announced it’s investment in CowryWise.
CowryWise, is a ~1-year-old Lagos based startup that is democratising asset and wealth management services and make them available to everyone. The company provides a platform for personalised financial services with a high interest rate only available to the top 1% . In the announcement made by Yele Bademosi, the Managing Partner at Microtraction, he invested in CowryWise because the company offers the proper mix of team, product and market potential.
The invested amount was not disclosed.
Google’s AI research center in Accra
You know one thing about AI, the term gets thrown around a lot like its some established industry and its all been figure out. But really, it is still a growing industry with millions of dollars invested into AI research by governments and corporations. It is also a race for talent as the biggest corporations are frantically acquiring people from the academics, startups and research institutions.
While the world battles for the brightest talent in the biggest and best universities in North America and Europe, an often forgotten land mine is Africa with droves of AI talent. That’s where Google comes in.
Excited that we'll be opening a new @GoogleAI center in Accra, Ghana - really looking forward to our research teams solving challenges with AI for Africa and beyond https://t.co/dTYvrcebPJ
June 13, 2018About BTC and ETH
Bitcoin
In spite of all the goodness that cryptocurrencies and the blockchain technology promises, there is this one adversary that the technology may not be able to overcome. And that is hackers.
Bitcoin tumbled more than 10 percent to its lowest in two months, after a South Korean exchange was hacked. Coinrail, a relatively small South Korean cryptocurrency exchange, tweeted that it was hacked, leading to bitcoin falling to a low of $6,647.33.
The crash appears to be over after the price stabled last Thursday.
Ethereum
The SEC has declared that Ethereum and its digital coin ether, are not securities. The announcement led the price of ether to rise by over 8 percent, hitting a high of $520 per token. The implications of this still remains to be seen.
And that’s a wrap. If you enjoy this newsletter, I’d love it if you’d tweet or forward to the two people who you think would enjoy it most.
Until next week,
Wole