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Kamari and ZeU Crypto Announce Joint Venture to Build Lottery and Gaming Infrastructure Across Africa

African blockchain infrastructure project taps veteran development company for joint venture

VALLETTA, Malta–(BUSINESS WIRE)–Kamari, a project building blockchain infrastructure across Africa, has announced a joint venture (JV) with ZeU Crypto Networks, a leading blockchain technology innovation and development company out of Canada. The parties will create a Joint Venture entity with the mandate to build digital lottery and gaming applications that will run within the Kamari ecosystem and potentially serve millions of users across multiple countries in Africa.

Kamari looks to develop the fundamental infrastructure that will serve Africa’s population as it doubles to two billion over the next several decades. Africa’s GDP is predicted to increase from $2 trillion today to $29 trillion in today’s money by 2050. The “Blockchain Opportunity in Africa” will also have mobile technology at the center of its massive growth across the continent.

To begin building this ecosystem, the company has secured national lottery licenses across multiple African countries. Once the infrastructure has been created, and the product has been launched, the company will be able to market to over 50 million adult customers exclusively.

Kamari has agreed to set up a joint-venture with ZeU Crypto Networks Inc, a leading blockchain technology development company based out of Canada, to oversee the development of lottery and gaming applications that will eventually integrate with the Kamari mobile wallet. ZeU will handle the technical development of these applications and will also support the use of the KAM currency in its applications including the MulaMail Marketplace, allowing email users to exchange the token between themselves and access the Kamari Ecosystem’s service offering from within their email application. ZeU’s Mula planned peer-to-peer microlending will also be compatible with the Kamari ecosystem.

“We are excited to work with veteran technology developers on this joint venture to start building applications for the Kamari ecosystem,” said Dr. Chris Cleverly, CEO of Kamari. “Our vision is to create a new type of infrastructure that will unlock incredible, never before seen financial benefits for hundreds of millions of people. Essentially, our opportunity is to transform millions of peoples’ lives and provide them with fundamental infrastructure that is vastly more efficient and effective than countries in the Western world, allowing them to empower themselves. We’re looking forward to partnering with ZeU to begin integrating and building some of the applications for that.”

The two companies are in the process of establishing a joint venture entity that will oversee the development and the deployment of an integrated ecosystem. The partners should initiate in short order Peer-to-Peer (P2P) e-commerce initiatives in gaming, eSport, and gambling through participants of Kamari projects running on ZeU protocol and are expected to be a trial by fire for ZeU public protocol.

The partners are planning to deploy in late December, for the purpose of intracompanies testing, a first innovative lottery game using the KAM token. Demonstration to gaming commissions and regulators should be conducted in Q1 2020.

The two companies plan to announce more details of the joint venture shortly. For more information about the project visit: www.kamari.io

Contacts

Joseph Hunt

[email protected]

Business Wire , 2019-12-04 17:42:19 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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