Sisibox to Help Women with Menstruation Challenges
Finding real-world use for cryptocurrency that will attract mass adoption has been the aim of many crypto enthusiasts. However, it would seem that Don Gilead Oyendika Okolonkwo has found the perfect real-world use case. His solution is pegged on sanitary pads for women called SISIBOX.
How did Don Gilead, Chairman of BeepMagnet International Group get to create this awesome product pegged on cryptocurrency? He explains his journey, strengths and challenges with Cryptotvplus in an interview.
Before becoming the chairman of BeepMagnet and dabbling into the decentralized world, Don Gilead had always been a tech lover interested in finding alternative means of payment. He was the founding president of SaveQuick Cooperative Investment Limited in 2012, he also dabbled into e-Gold as a means of payment about 6 years ago. However, it was about 4 years ago that he had an encounter with cryptocurrency. He explained that he met Mr Greg, the PRO of the GoldCoin Community and that encounter fostered his interest in cryptocurrency. He added, “I heard about the name “Satoshi Nakamoto” and I decided to do my own personal research. I was intrigued about the power of decentralization, trust and the almost unhackable nature of the technology considering its mode of operation.”
GoldCoin was officially the first cryptocurrency project Gilead would be involved with. His passion to find out more about the benefits of cryptocurrency to the African continent led him to meet some amazing members of the GoldCoin community and eventually becoming a part of the community himself. In his own words,
My hunger to make this technology accessible to Africans led to my invitation to be part of the Core Team of GoldCoin Project to Lead Africa. Being in the team, I learnt a lot about Blockchain Technology and Cryptocurrency from the position of Technology, Innovation and Problem-solving.
He was fascinated by the blockchain technology and the possibilities it presented. To him, the technology provided a safer means of carrying out a transaction. He described it thus,
“I was fascinated by the process it would take to hack the blockchain, it would be better you follow the algorithm or rule embedded in the algorithm in other to be rewarded than to try to alter the record in the Ledger. To think about hacking the blockchain will mean to imagine altering all the computers that have a copy of the ledger.”
The Solution and the Challenges
After considering the immense benefit of the technology, it was time to create a solution that will solve the financial problems facing the African continent. His company BeepMagnet International Group formed the firm’s slogan “Matching Technology with Innovation” which symbolizes his zeal to solve real-life problems with the blockchain. He explained,
“As an African and as a Nigerian, there were many problems that GoldCoin could not solve. This was because it was an abstract that can only be understood by an intellectual since it cannot be connected to immediate proof of USE. It was almost impossible to get adoption in Africa. This was the trigger of developing a blockchain solution to solve African challenges.”
He, however, met with challenges on his way to creating a real-life use case of cryptocurrency in Africa including losing money in a lot of scam projects as well as finding it difficult to convince people of the true qualities of cryptocurrency because of the Multi-Level Marketing (MLM) and pyramid scheme notions attached to it.
Undeterred by the challenges, Gilead is working hard towards solving the challenges facing the African society. He explained,
“We missed out in the Industrial Age, we also missed out in the beginning when Bitcoin was at its inception stage. If we must stand tall, Africa needs to embrace Blockchain technology and cryptocurrency and implement this to solve specific problems. In the last 4 years, this is what BeepMagnet International Group is committed to actualizing.”
To Gilead, his definition of the blockchain is “a trusted record that is open, transparent and almost impossible to hack or alter. It is a record that is not controlled by an individual or a centralized system. This record keeps every detail to the minute of split seconds when the data was inputted. Time, date, unit, transaction number, a hash is encrypted using the most advanced security known as cryptography.” He believes that the blockchain is “the QUANTUM revolution that will advance Africa in the Social Economic placement among other continents.”
As the Chairman of BeepMagnet International Group, Gilead shared his passion for the blockchain space. He described the loyalty space as an untapped industry and described the industry as one he is passionate about revolutionising. He explained his efforts thus far, “We started the drive from the traditional point of view leading to the development of an offline payment solution that supported e-Thrift and Cashback to Cooperative Members. Later, we advanced to creating customized ATM Cards in partnership with local Nigerian Banks to give out Discount Cards that can be used to shop at patterning Merchant Stores when you are a holder of the Card. As time went by, we partnered with an International Company to provide this for Nigerians. The card was BeepXtra Cards.”
BMCT – Solution to Merchant Adoption
However, they ran into a hurdle and had to deal with the problem of merchant adoption. To create a solution, the BeepMagnet International Group had to develop the World’s Foundation of Consumer Loyalty known as BMCT (Blockchain Merchant & Consumer Token). The aim of creating this token is to strategically position Africa at the centre of the blockchain space. So far, the company has created 11 use cases in its drive to solve the problems common in Africa.
Sisibox – Proof of Use for BMCT
BeepMagnet has created several products solving real-world problems pegged on its cryptocurrency the Blockchain Merchant and Consumer Token (BMCT). And one of such problems is the problem of mass adoption of the blockchain technology. To encourage women into the space SISIBOX, a Premium Brand of Lady Sanitary was created as a proof of use for BMCT. The aim of this product is to encourage women into the blockchain space as well as provide a means providing women with emotional and financial support during their menstrual cycle. The unique feature of BeepMagnet’s product is that they are intertwined. Sisibox is a product under BeepHealthCare which is also a product of BeepMagnet which aims to give individuals and families access to premium healthcare insurance from the best hospitals in Nigeria. The company also has MobDoctor, a mobile application that connects Doctors and Patients all over the World. The aim of this product is to reduce improve medical consulting across the African continent.
Gilead reveals that the company also has a product to solve the problem of Mass adoption of blockchain by merchants globally called QDiscount. To solve the problem of remittance in Africa, BeepXchange, a subsidiary of BeepMagnet International Group was created. The company also has another product called Quick credit which aims to solve the problem of Credit Ranking although it is yet to be unveiled. The gaming sector is not left out as BeepMagnet spread its tentacles across industries. MobGames is a live game solution designed for live tournaments across GYMs and Hotels in Africa.
Gilead is not yet done with the blockchain space as he still has plans for the industry. He details his milestones to include; “Empowering and attracting women to blockchain using sisibox. It is our objective that every African lady takes advantage of sisibox. Sisibox premium brand of Lady Sanitary is made from the best materials. It contains Anion Sanitary Napkins, Panty Liners and Ovulation Strips and a crypto-fiat voucher that rewards every user with cashback in BMCT and Commissions in Fiat.” He also aims that in the following years, his company BeepMagnet will be able to see the release of its products to Africa in particular and the world at large. He also hopes that his firm will “lead the Development of a Blockchain Voting System that is rig and hack proof and can be deployed in any form of voting or poll system.”
Confident of how his projects are contributing to creating mass adoption in the blockchain technology, Gilead explains, “All our projects are not white papers. It started as a proof of concept to proof of use. All our projects are solutions to existing problems bedeviling Africa. We have integrated empowerment into all these projects to propel the will to act and attract as a lot of New Breed into our community.” He goes on further to cite examples stating that women can earn as much as 2 million Naira every four months through Sisibox. He also explained that MobDoctor will increase mass adoption as people are in need of consultancy services and for every time MobDoctor provides access to the best Quality Consultations from Qualified and renowned doctors across the globe, one more person has gained knowledge of the blockchain technology and its use case.
To have a great company one needs to be surrounded by a great team of individuals, Gilead shares with us information about his team and the driving force behind their success. “BeepMagnet International Team was drawn by the vision of the Group. The Team is dedicated as the see technology and innovation as a way of life. The attraction s decentralization and Interests protected in BMCT Blockchain which is the tie across all subsidiaries.” To inspire the team members the company has adopted a different business model. Gilead describes the model saying, our model is designed that everyone drives our business model with his or her ID No/Affiliate No. This means that as soon as you join BeepMagnet Group, you become a promoter or an ambassador. Whatever your effort achieves is 100% yours- this motivates everyone. I have also set an example for transparency, my team members are the first to hear the concept, we review, and we allow for joint contribution. So that makes it our project, whenever you see your contribution being implemented.” Gilead is really adopting the term decentralized in his organization.
PO8 Tokenizes Underwater Artifacts in Bahamas – Says Africa can be next
With the assistance of the blockchain, P08 aims to utilise new maritime technologies, artificial intelligence and robotics to recovering lost cultural heritages
The treasures hidden under the sea will likely remain undiscovered if we all focus on the surface world. However, Bahamas based blockchain company, P08 is changing the underwater narrative as it is creating blockchain solutions to aid in underwater archaeology. The company aims to make marine archaeology accessible through its decentralized applications (DApps).
With the assistance of the blockchain, P08 aims to utilise new maritime technologies, artificial intelligence and robotics to recovering lost cultural heritages that have been shipwrecked in Africa, the Caribbean islands, and other countries. Basically, it’s a decentralised, secure and transparent form of underwater treasure hunting.
PO8 CEO Matthew Arnett and co-founder and COO Raul Vasquez plan to help African nations benefit from the tokenization of newly recovered underwater artifacts. It plans to utilise the blockchain technology and Non-Fungible Tokens (NFTs) to monetize the ownership of $100B dollars worth of sunken artifacts in Bahamian waters.
OWNERSHIP RIGHTS HANDED TO TOKEN HOLDERS
P08 will transfer the ownership rights of any recovered artefact with its economic value into a digital title. However, the recovered items will be kept in the custody of the PO8 Museum Foundation to be preserved and exhibited. It took 18 months for PO8 to assemble its team of marine archaeology and tech, a Dream Team of sort. Included in this team are Dr. David Gallo, TITANIC expedition; Mr. Claudio Bonifacio Shipwreck researcher and author; Troy Launay, member of the Apollo F-1 engines recovery team and Evan Kovacs, a professional underwater photographer.
PO8 aims to be a force to be renown with in the Caribbean Islands, Africa and the world at large. The tech company aims to impact the Bahamas first through the provision of local jobs in marine habitat protection, tech and tourism. Vasquez explained how the company aims to build resources in the African continent saying, “This is the retooling of professionals from downtrend industries to servicing new tech industries launching in Africa…We welcome the opportunity to join arms with local governments to promote sustainability and capacity building through underutilized resources. Entire populations stand to benefit.”
The company also aims to create its first Archeological Treasure and Maritime Museum By restoring artifacts discovered from its shipwreck sites. PO8 recently received the 2018 Creative Business Cup Award at Demand Solutions in Santiago, Chile from the Inter-American Development Bank (IDB).
P08 is currently running its Security Token Offering. For more information on how to get involved or to inquire about its STO, visit https://po8.io/
10 million Users of Samsung Pay Set To Enjoy Digital Currency Transaction
Samsung’s recently launched lineup of its flagship “S” series, Enjin, is meant to be supporting digital currencies with a built-in wallet.
Prior to the public publication of this innovative development of Samsung Blockchain Wallet integration, local publications had speculated that Samsung Pay could be backing the high-profile digital currency incorporation for the Galaxy S10.
On the 29th of January, The Korea Herald had hinted that Samsung is ready to incorporate a digital currency or cryptocurrency wallet into the Galaxy S10. This hint was over a month prior to the public release of the Samsung Blockchain Wallet on February 21st.
On the wave of optimism, an industry executive said “The arrival of the new Samsung phones could start popularization of the cryptocurrency wallet system in Korea. ”
On the 8th of March, that is, three weeks subsequent to the official release of Samsung Blockchain Wallet, one of the largest mainstream media outlets in South Korea, Donga, noted that Samsung deems digital currency incorporation as a means to expand its user base internationally. And hence, cryptocurrency integration will strengthen Samsung Pay as a fintech platform as contained in the report entitled “Crypto, Flying Away With Samsung Pay on its Back?”
Samsung Pay’s intention of incorporating digital currencies goes in line with its past acquisitions and product launches.
As at this stage, the Samsung Blockchain Wallet is supporting Ethereum but more cryptocoins are expected to be integrated in no distant time. And as it stands, if a cryptocoin wallet is added to Samsung Pay, the application will be strengthened as a total fintech platform.
Samsung Pay, since its emergency, has competed headfirst in innovation and technological development against other online or digital applications such as Apple Pay and KakaoPay.
In the year 2015, Samsung Pay acquired LoopPay which allowed Samsung Pay users to process payments by hovering the phone over PoS (point of sale) terminals. The acquisition of loopPay was in the region of $250 million. Although this acquisition had a mixed reaction from industry analysts, it did provide Samsung Pay an edge over its competitors in user experience.
The user base of Samsung Pay, according to Donga, has grown by 58 percent from 2017 to 2018, by a whooping estimation of 6.6 million Users.
Many analysts in South Korea expect Samsung Pay to take a lead in the digital currency sector given the well-documented and successful strategy of Samsung to pursue aggressive acquisitions, product launches, and the integration of newly emerging technologies.
A GOOD LANDMARK FOR CRYPTO AND FOR SAMSUNG
In the similar way the market valuation of Square Cash increased by 516%, evolving into a payment behemoth since the company integrated Bitcoin in late 2017, Samsung Pay could benefit from digital currency integration and appeal to millennial and digital asset users.
Although, Bitcoin in all likelihood has not been a oentral catalyst in the growth of Square, it has played a vital role in establishing an initial user base for Square and allowed the company to snowball in the months ahead.
As of the month of April 2018, Samsung Pay recorded $18 billion in transaction volume and industry experts assumed the integration of cryptocurrency by Samsung Pay could speed up the mainstream adoption of digital currencies, especially on the side of merchants.
A passionate industry executive had told Donga that while the Samsung Blockchain Wallet could comparatively and significantly improve the visibility and accessibility of digital currencies, it will not be adequate in leading to sound merchant adoption at retail stores, supermarkets, cafes, and restaurants.
Facebook Coin, Blockchain and Cryptocurrency Adoption
The Big players are no longer sleeping. This means that something big lies ahead. It may be uncertain now, but as Africans, we must not fold our hands to wait for SEC to endorse before we begin to see the need to understand this technology and how to make it part of our daily lives. Dr. Amb. Gilead Okolonkwo take about Facebook cryptocurrency is based on the adoption of blockchain and cryptocurrency.
In his words he buttressed his point saying:
As a decentralized advocate, I have my concern as to the reason or motive behind the coin. Cryptocurrency needs trust and its survival is based on decentralization.
Amb. Gilead Stance On Facebook Cryptocurrency
We are yet to see the stand of Facebook cryptocurrency on this matter as regards the algorithm of the coin if it is based to control power because of its community, centralization of its coin will defeat the purpose of Cryptocurrency. We will see gaps that will make the coin fade away.
However, if it is based on a free market economy aimed at upholding decentralization then it is a coin to be mindful about. More so, with the privacy issues that Facebook has passed through in recent times that leave a big question on the motive of Facebook crypto coin.
As Africans, this is the time to position ourselves, and begin to think about how we can take a bold step. Blockchain technology hold the Qutum revolution leap for Africa, we can implement the concept to solve African challenges such as;
- Digital Identification system
- Blockchain POS/ Human Teller
- Electoral Process
- Consumer Loyalty
- Land Registry
- Tokenization of African Natural Resources
- Credit Ranking
All these are problems that blockchain can solve. I am happy that we have great Africa companies that have started looking into the above-mentioned problems to implement the Proof of Use (POU) for adoption in Africa.
What do you think about the opinion of the CEO at Beepmagnet International Groups?
Do write us and we would be glad to feature your articles/opinions in our weekly #BuidlClub Publication.
Facebook Coin Will Be Just Another Hype!
I think Facebook has killed its credibility with its user base and is looking for ways to stay relevant. -Chris Bates CSO at Bitland World speaks out!
As had been long anticipated, the high and mighty and the lots, have begun to think Blockchain technologies and cryptocurrencies as the next big thing for their businesses. Despite the current struggling position of the Satoshi’s Bitcoin, the likes of Jp morgan and Silicon Valley’s Facebook have announced the possible launch of their own digital assets.
Even though the above development might have a thing or two to show in line with increased support for global adoption, it has also raised controversy in the space in the area of decentralization.
Chris Bates doesn’t believe Facebook coin projects would be much to look out for.
In his words;
I don’t think it will make much of a difference to be honest. Facebook has had a payment option in their messenger for a couple years now and people still opt for Venmo or Cashapp over facebook payment option. I think Facebook has killed its credibility with its user base and is looking for ways to stay relevant.
I think there are ways that they could make their own crypto and platform useful towards the notion of “mainstream adoption”, but even in that I don’t believe “mainstream adoption” would look how crypto people think it would. Just as an example, let’s say Facebook IS successful at leveraging its user base to make “Facebook coin” viable.
That doesn’t mean anything for the rest of the market, and doesn’t automatically mean 2.5 billion people will then start using bitcoin or whatever crypto. That really just means Facebook will once again have leveraged technology it didn’t create to exploit its user base and make a profit.
Facebook has been researching blockchain and cryptocurrency for years, and them just now deciding to pull the trigger to me is more of a reaction to the GDPR and European privacy laws that are going to make their data mining practices much less lucrative.
What is your take on Chris’ opinion? Do you think that Facebook has a chance to shock the entire blockchain space given its particular wealth of community? Lets hear from you in the comment section below
Bitcoin News4 days ago
PAXFUL IN THE NEWS FOR THE WRONG REASONS
Blockchain News2 days ago
An Overview of SaBi Exchange
Blockchain News4 days ago
IBM Launches Global Payment Network Based On Stella Public Network
Altcoin News3 days ago
Crypto Now Accepted By Largest Swiss Online Retailer Digitec Galaxus