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New digital exchange built on the blockchain to challenge the JSE

But with a difference – even spaza shops will be able to raise capital, explains Forus Exchange founder Sonny Fisher.

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Brilliant Concept (ie. using block chain to trade/invest) – it is the future without a doubt –

but unfortunately,

this guy is going about it the wrong way. (kinda thinking small not seeing the big picture – start with the end in sight – build a block chain exchange were the big guys are attracted first … coz of efficiencies of scale etc and so on – )

This is complex – You need a top team of developers and pros.

But full marks for trying – wish you all the best.

Whilst i am huge blockchain and crypto fan, i even admit its very inefficient both in size and speed when dealing with data, rather its claim to fame is the ability to verify information without the need for a 3rd party, this automatic self verification is the true value of Bitcoin.

POW (Proof of Work) is the process which Bitcoin uses, many improvements have been made but the file size is only about 1meg whilst taking about 10min to verify and huge amounts of computing power. Still more cost effective than the banking system and fiat.

In the Book, Bitcoin Standard by Saifedean Ammous, he makes the case of how and a blockchain system will work to the benefit of a financial system like Stock Exchanges.

https://saifedean.com/book/

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