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African banks Employ the  Blockchain Technology

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African financial institutions are beginning to see the potential of the blockchain. The blockchain lacks a centralised ledger for transactions and this allows for greater transparency and reduction in cost in all sorts of trades and other activities. However African banks are buying into the technology and some African banks are already utilizing the technology. One of South Africa’s biggest bank, Barclays Africa Group joined R3, a New York-based blockchain firm. The firm is a coalition of 45 firms and develops blockchain for the utility of global financial system.

 

Africa is relatively new to the blockchain space and unlike the banks of other countries in the world they are taking the blockchain technology in their strides. Although there are many regulatory hurdles on the way, speculation is that Kenya or South Africa will likely be the first to integrate the blockchain into its banks.

The South African Reserve Bank (SARB), South Africa’s Central Bank actually utilised Ethereum based platform, Quorum to test bank-to-bank payment transfers. The project Khokha was a collaboration of eight South African banks including Absa, Capitec, Discovery, FirstRand, Investec, Nedbank, SARB and Standard Bank. The blockchain project was to replicate South Africa’s current bank-to-bank payment platform, the South African Multiple Gross Operation Settlement System (SAMOS), using the blockchain technology.
Rwanda also got involved with the blockchain with the I&M Bank located in Rwanda together with Blockbonds announced that they are rolling out the SPENN. The  SPENN was the country’s first platform that would be based on the blockchain technology. The platform would enable Rwandans utilise the blockchsin application just like a mobile banking option and enable them make a range of financial transactions.

African Banks could benefit greatly from the blockchain it could help in streamlining their credit-scoring processes as well as make lending more efficient as well as make transactions faster and more transparent.

 

 

 

What do you think about banks employing the blockchain? Share your opinion with us in the comment section below.
Image credit: pixabay,

 

Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

 

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I am a blockchain and cryptocurrency journalist fascinated with sharing the knowledge of this wonderful technology in the simplest language possible.

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Broda Shaggi: Brand Ambassador For Nigeria Blockchain Company

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Samuel Perry, popularly know as Broda Shaggi has just been named the official Brand ambassador for Blockchain and Fintech Company based in Nigeria- Tradefada.

Samuel Perry, popularly know as Broda Shaggi has just been named the official Brand ambassador for Blockchain and Fintech Company based in Nigeria- Tradefada.

With the increasing rate of awareness about cryptocurrency and blockchain, it is no news that celebrities are taking the center stage in the campaign to bring the 8th Wonder of the World to Africa and for Africans.

Veterans in the Music industry- Akon, Don jazzy, Eminem and a whole lot of International Celebrities have shown keen interest in the ever-evolving technology.

E-commerce is transforming the world into one global marketplace and Tradefada provides online merchants and payment solution utilizing cross-border logistics services to various e-commerce companies and traders around the world.

Tradefada – a subsidiary of sfc ltd which is the 3rd largest logistics company in china with the vision to secure to be the most dependable entity in the world of across the world and foster global trading by collaborating technology with innovation.

Cryptotvplus was live at the launch of “Broda Shaggi” as Tradafada brand ambassador held at PopHub4, Admiralty Street, Rockdrive, Lekki Phase 1,Lagos, Nigeria.

The event was graced with several blockchain thought leaders, think tanks, cryptocurrency enthusiast.

To know more about the best of breed digital asset exchange, click here

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Dash Adoption Conference- Seeking to Promote cryptocurrency Use in Nigeria

Dash has proven itself beyond any level of doubt that it is here to redefine the way we perceive cryptocurrencie

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Promoting the Adoption and Use of Dash in Nigeria

Lagos hosted a community of Dash users on the 1st of March, 2019. The conference, which took place at the CIBN Learning Centre, Yaba, was graced by notable personalities like Franklin Peters, CEO of BitFxt; Michael Ogunseye, CEO of Dash Cart; Tega Abikure, CEO of KurePay; Munachi Ogueke, Chief Business Officer of YellowCard amongst others.

As portrayed by the theme of the conference — “Promoting the Adoption and Use of Dash in Nigeria”, the conference was a one-day event aimed at addressing the adoption of Dash as a cryptocurrency in Nigeria. The contributions by key speakers at the event proved that Dash, beyond all doubt, is massively being adopted in Nigeria.

Nathaniel Luz, Lead, Dash Nigeria Business Dev, kick-started the round of presentations with an eye-opener speech. He delved into very important details about the blockchain technology and cryptocurrencies — it’s borderless transactions, financial privacy and more.

He talked about Bitcoin, and why Bitcoin may not be a solution to the massive adoption of cryptocurrency all over the world. With these, he introduced Dash, explored the details of Dash, and talked about its adoption which he tagged “Oya Over to Adoption 1,2,3…”

Nathaniel was pleased to inform the audience about the integration of Dash into many online Nigerian platforms. It is a big move towards adoption.

Here’s a list of some giant steps that Dash has made in its quest for massive adoption in Nigeria, so far.

Integration of Dash into the Kurepay Wallet

Buying airtime, data on any network just got better. With the latest adoption and integration of Dash into the Kurepay Application, you can now recharge your phone, and/or renew your data with Dash. Moreover, you can also renew your DSTV subscription packages with Dash. Thanks to Kurepay.

Kurepay also facilitates remittances across Africa.

Esusu Africa

Esusu is a platform aimed at improving financial inclusion in Nigeria by digitizing thrift contribution. With a vision to become  the leading Digital Microfinance in Africa, the platform has also adopted the use of Dash, for deposits and withdrawals.

Yellow Card

With outlets in various locations in Lagos, Yellowcard is a firm that allows you to purchase cryptocurrency vouchers. Want to buy Dash? Find your way to any Yellowcard outlet closer to you and exchange your cash for some Dash.

Gigalayer

Gigalayer is an online Web hosting services provider as well as a domain provider. They have strong roots in many African countries like Nigeria, Uganda, South Africa, Kenya, and so on. GigaLayer integrated Dash as a means of payment on their platform. This means that you can now get all the web services you desire using Dash.



Dash has proven itself beyond any level of doubt that it is here to redefine the way we perceive cryptocurrencies. Infact, Bitfxt (an exchange for swapping cryptocurrencies with other cryptocurrencies  or Fiat) will be listing Dash against NANO, Bitcoin and BXT soonest.

What are you waiting for! It is high time you got a Dash wallet and a reasonable amount of Dash. In 2010, a person sold 10,000 bitcoins, approximately $41, for just 2 boxes of Pizza. Do you know how much a Bitcoin costs today?

If that can be the testimony of Bitcoin, how much more Dash, which has a better sustainability plan, awesome features (InstantSend, PrivateSend, low transaction fees, decentralized voting), and scalability. All these make Dash a better choice compared to Bitcoin and some other cryptocurrencies.

Dash will also soon be listed on Coinbarter, Busha and Bitmama.

Little wonder Dash is gaining so much recognition within a short period of time.  “How do I get Dash?” You ask

How to Get Dash

  • Purchase Dash via any of the options listed above and move Dash into your wallet so you can be in control of your own money


You can also download the “Discover Dash app to see where you can spend Dash near you. Visit Dashnews to stay up to date on the latest dash development.

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SiBAN, Nigeria’s Blockchain Association, prepares to launch KYC/AML campaigns

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Following the resolution of the Caretaker Committee of Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) at a recent meeting, the Vice Chairperson (Policy & Regulations) has released its subcommittee’s 3 Action Steps. The 3 Action Steps are as follows:

 

1. Introduction of SiBAN to Law Enforcement Agencies and Regulators:

Introduce SiBAN to law enforcement agencies such as EFCC and the Nigeria Police about the establishment and objectives of SiBAN towards forging a healthy and collaborative relationship with them, thus protecting our members against illegal arrests and victimization. SiBAN will also be formally introduced to regulators such as CBN, SEC, and NDIC;

 

2. Introduction of ‘Register Your Business’ Campaign:

A number of platforms in the Blockchain and cryptocurrency space in the country are either not registered at all or not registered in Nigeria. To boost credibility in the space and reduce the rate at which scammers are appearing and disappearing in the space, we will campaign that Nigerian business in the space must register their businesses and also publish their RC numbers or BN numbers on their websites and publications as the case may be. Foreign firms that operate in Nigeria will be encouraged to also register in Nigeria;

 

3. Introduction of KYC/AML Campaign:

Advocate, prepare, and propose policies for Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance for adoption by registered members of SiBAN who own or operate Blockchain and cryptocurrency businesses in Nigeria as minimum requirement towards improving consumer protection, boosting security, and supporting laws, public policies, and regulations. We will design a KYC/AML icon or emblem that platforms who adopt our KYC/AML policies or similar policies will have the right to place on their platforms.

 

In the words of Senator Ihenyen, the Vice Chairman (Policy & Regulations), “At policy and regulations level, we are very concerned about the need to boost the credibility of Blockchain and cryptocurrency platforms operating in the space. This will help improve consumer protection and investor confidence. As a body of stakeholders, our approach is a self-regulatory approach which we hope we help us sanize the space while also exploring collaborations with regulators. We believe that Blockchain and cryptocurrency present massive opportunity for economic growth. But we can’t make that happen if we fail to leverage on the technology at this nascent stage.”

 

The 3 Action Steps have been adopted by SiBAN and the Committee on Policy and Regulations are currently working on implementation.

 

Last month, SiBAN’s Committee on Projects had made an inquiry into the operations of two cryptocurrency platforms in the country and made interventions that raised hope that the Nigerian Blockchain and cryptocurrency space can be safer, better, and bigger.

 

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Tega Abikure; Creating a Window to a New Financial Economy using KureCoin

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Tega Wisdom Abikure is a firm believer in teamwork. As the founder and Ceo of KureCoin, it is imperative that he surrounds himself with a team that is motivated towards solving the payment problems of Africa. During an interview with CryptoTvPlus, Tega Abikure explains his journey in the cryptosphere and how his project aims to create a window into a new financial economy.

Problems such as access to capital have plagued businesses and individuals in Africa for a long time. However, Tega and his team are focusing on utilising the blockchain to create a system of zero collateral loans using crypto assets. Prior to launching The KureCoinHub platform, Tega Abikure explained that he ventured into the cryptosphere in 2015 “through an enterprising and investment group” he belonged to.

In his words, Tega Abikure considers the blockchain as “that technology just like the internet that will take our way of conducting business processes to another level. Africa will no longer be seen as a dark continent but like another part of the world where business/transaction will be carried out effortless and seamless…I call it the freedom tool for Africa.” This will explain why his company is focused on revolutionizing payments in Africa through KureCoin.

Tega Abikure explained that his product KureCoin is focused on “solving Africa’s payment and settlement problems using Blockchain technology breakthrough.” He also aims to create a massive window into the new economy by providing financial services to the new economy, since our current financial service providers are yet to do so.This is why Kurecoin, a decentralized cryptocurrency built with proof of stake (PoS) algorithm is offering a seamless and secure mode of transactions for investors within the KureCoinHUB ecosystem.

Beyond building a project to solve financial issues in Africa in particular and the world at large, Tega Abikure has some milestones he aims to achieve in the coming years. He lists his milestones thus; “I aim to build our own Blockchain for African project, business and government. And being an Apex financial service provider to the crypto economy and beyond.” The motion to achieving these milestones has been set by the KureCoin team as the KureCoinHub Ecosystem comprises the Kurecoin Hub Cryptocurrency Bank Project, which aims to give secure and global transactions through the KurePay card. KureCoin Hub aims to utilise KureCoin to tokenize the business world through its platform.

As the CEO and founder of KureCoin, Tega Abikure describe the challenges he has identified in the cryptosphere. He listed “social challenges, slow adoption and lack of massive education” as the problems facing the cryptosphere. He and his team aims to improve adoption by “showcasing how cryptocurrency and Blockchain technology will aid businesses and individuals.” He also aims to improve adoption, he explained his methods saying; “We have partners with several tech hubs to educate people on Blockchain, use cases and adoption. Our project is a live example of how local businesses can accept payment and settlement without the hassle of dealing with payment.”

With the aim of solving Africa’s financial difficulties facing Africa, KureCoin encompasses three aspects, an E-wallet to allow a finding of accounts through debit and credit cards, local bank accounts and crypto wallets. It also includes a payment gateway that will enable SMEs to receive payments via cryptocurrency wallets and Kure Card which will allow users to access all of the platform’s product on a global scale. KureCoin was able to complete its ICO between May and June last year. The company was able to achieve this through a team of great minds.

To describe his team, Tega Abikure says, “Our team comprises of the best minds in the world. A team of excellent people, dedicated and unreservedly passionate about the success of this project and have owned the vision of the project so much so that working with everyone has been awesome..it’s amazing!” Gathering a team of like minds to help build a company can be a difficult task but Tega Abikure explains his strategy saying “We looked out for people that their willingness to learn outweighed their competence.” Asides having a great team, great leadership also matters and he explains how he is able to keep his team on their toes. To him, the strategy involves reviewing previous projects so the team can see how far they have gotten which will, in turn, motivate them to do more. He say, “You can only inspire by becoming, as a result of what you’ve become – your team will be motivated and then inspired. Inspiration comes from doing the talk. I always try to do my talk.”

When Tega Abikure is not working on his project, he doubles as a financial advisor and a business mentor and coach. He has some great experience with working with Africa financial situation as he had worked with Finedge consult providing funds for local companies in Africa through foreign venture capitalists.  He is a Co-founder of the HOYB project (heart of your business) a project dedicated towards empowering and mentoring young entrepreneurs.

Tega Abikure can be found on Linkedin, Twitter, Instagram and Facebook

 

What do you think about Tega Abikure’s financial plan for Africa? Share your opinion with us in the comment section below.
Image credit: Cryptotvplus
Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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