FinTech

Decentralised Finance: What is it and how is it regulated in South Africa?

What is Decentralised Finance? Decentralised Finance (DeFi for short) is a financial system built on public blockchains such as BitCoin and Ethereum.  Blockchains refer to a list of data records that work as a decentralised digital lender.  The data in a specific blockchain is organised into blocks, which is chronologically arranged and secured by cryptography.  The oldest and safest blockchain [...]

Legal considerations around eCommerce

We live in an ever globalised and connected world where it is possible to buy someone lunch across borders using a website or a mobile app. As the sale of goods and services from website and mobile apps increase, the appetite for online shopping continues to grow. However, various legal considerations should be made when selling goods or services online. [...]

By | 11th March, 2020|Commercial Law, Consumer Law, Contract Law, PPM Attorneys|

LEGAL STATUS OF BLOCKCHAIN TECHNOLOGY IN SOUTH AFRICA

Sub-Saharan Africa has a 70% unbanked population.[1]  This statistic indicates there exists the enormous potential for the adoption of blockchain-based solutions as an alternative to traditional payment options.   Access to traditional services is one of Africa’s biggest challenges and making use of blockchain would improve access to financial inclusion.  So, as this term blockchain garners popularity within businesses and governments [...]

Can you own Facebook’s Libra cryptocurrency?

Introduction Facebook recently announced its 2020 plans to launch its first cryptocurrency, Libra.  There are mixed feelings amongst people as some are welcoming this initiative as a promotion for financial inclusion, while others are sceptical about people’s privacy and the potential for an increase in cybercrime.  Libra is not the only cryptocurrency on the market, we have popular ones like [...]

A broad overview of South Africa’s position on digital payments

It is interesting to note that there is now a growing number of places around the world that are refusing to accept paper money payments.  There are even communities that exist where merchants often frown upon using paper money.  Take the declining use of cash in Sweden, Kenya and China for example, South Africa may not be too far behind. [...]

By | 3rd September, 2019|4IR, Fintech, PPM Attorneys, Technology Law|

Shouldn’t the SA Post Office be using #FinTech to reduce the cost of paying SASSA grants?

The South African Social Security Agency (SASSA) provides grants to the elderly, disabled and certain children. Grant beneficiaries receive money through a bank or cash payment.[1] Beneficiaries are compelled to receive their grant payments in these archaic and inconvenient ways. These methods involve beneficiaries having to travel to a physical location. This means time, effort, expense and potential loss by [...]

By | 5th February, 2018|PPM Attorneys|