The growth of the use of blockchain technology has been massive over the last decade stemming from the launch of Bitcoin.
In today’s world, various applications have been created on the decentralized ledger for various industries such as finance, health, education, and more.
Speaking about how this technology can be utilized to transform societies, Charles Okaformbah, Co-founder and CTO of Convexity, said in an interview on Arise TV that his organization has built a platform to transform the aviation industry in Nigeria using blockchain technology.
Aeropay is an online platform where passengers can buy their tickets linked to airlines easily. One advantage of the platform is that it makes it easier for passengers to retrieve their ticket fees when flights are canceled.
According to Charles, this is a huge challenge within the aviation industry where passengers find it hard to be reimbursed their monies in the event of flight cancellations.
He further explained that while Aeropay started with a focus on the customers, they had to remodel the project to help airlines manage their cash flow as well.
Aeropay recognised in Netherlands and Namibia
In addition to what Charles said, Adedeji Owonibi, the founder of Convexity, revealed that the feedback the platform has had is quite impressive especially from outside the shores of Nigeria. He said Aeropay has received an award in the Netherlands and recognition in Namibia.
He added that they are also working with the Nigeria Civil Aviation Authority (NCAA), the regulatory body for aviation in Nigeria, to further incorporate the services for the industry in the nation.
Working with UNICEF and the Makoko community
Adedeji further explained that Convexity is also working alongside UNICEF and other individuals to transparently distribute palliatives and relief materials in the form of funds to less privileged communities like Makoko in Lagos state.
He said that one of the projects going on via which the slump community is being helped is run in collaboration with a Japanese who follows the activities of the project while monitoring the resources given to the community effortlessly. Thanks to blockchain technology.
Also, Charles added that it’s possible to deploy a blockchain solution in partnership with the Nigerian government to distribute palliatives transparently.
This will take away the challenge of handling corrupt vendors who refuse to give the recipients what they deserve.
He noted that with the use of tokens, which are currencies built on the blockchain, any kind of resource can easily be distributed to citizens safely and transparently.
Apart from the blockchain, he said that other technologies such as Geo-fencing, national identity system as well as social register can be put together for more effective distribution of resources to designated recipients.