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.
What Coinbase Visa Supported Debit Cards Means for Mass Crypto Adoption Drive
US cryptocurrency exchange company Coinbase has reportedly acquired the principal membership status of financial services giant, Visa to issue visa supported debit cards to users.
The membership status was officially granted to the exchange operator in December last year but revealed recently making Coinbase the first cryptocurrency company to be awarded such a membership. And having the power to issue debit cards for other firms including cryptocurrency firms.
This debit card will allow users to spend cryptocurrencies such as Bitcoin, Ether and XRP anywhere Visa is accepted. The principal membership status allows Coinbase to bypass middlemen that would normally make the use of the product costlier. As Feroz Zeeshan said, the “Direct membership allows us to take control of our issuing program”
Challenges using crypto for payments
Cryptocurrencies have been seeing increasing levels of interest globally both from ordinary citizens to corporations and governments. However the uniqueness cryptocurrency features, most especially its cross border nature that citizens of countries with unstable financial and monetary system appreciates deeply, the daily use of cryptocurrencies for minute expenditures has always been a challenge.
This challenges which are due to transactions done in isolation (without having to go through legacy financial systems) thus causing slow processing, the global level of appreciation of crypto’s uniqueness, trust, transactional cost etc, has significantly impacted the growth in the use of cryptocurrency for daily engagements.
This was explicitly stated by the CEO of Coinbase UK, Zeeshan Feroz who said
“Your Bitcoin holdings have never been liquid because you have to sell them, you have to go through a process, withdraw the money, and then spend it. It’s never been an instant, “Oh, I’ll buy this cup of coffee with bitcoin,”.
“What the card is trying to change is the mindset that crypto is tucked away, takes two days to access, and can actually now be spent in real time.”
Though Coinbase has revealed the card will not be available for US users, it will be available for others such as users in 29 countries including Estonia, Denmark, France, Ireland, Italy etc. It opens up a whole new way of using digital currencies for daily expenditures. Below are some of the ways it will have impact on crypto adoption.
Super fast transactions
The membership status obtained by Coinbase allows it to issue cards that users can use and enjoy instant settlements.
With the swipe of the card, users will be able to pay with supported cryptocurrencies without having to first convert to their local currencies as is currently obtainable globally.
Convenience and accessibility
Cryptocurrencies are true global currencies yet, its global nature suffers certain setbacks. The ease and convenience of using cryptocurrency in foreign markets though possible is not as easy as it seems.
Though regional firms may offer easing services, the Coinbase debit cards awards users the ability make payments globally wherever Visa is supported. This affords users the ability to travel globally even without a bank account and be able to engage in commerce.
Distribution of card offering firms
With the principal membership status, other companies can issue debit cards through Coinbase. This helps to expand the ease of using cryptocurrency in retail transactions by companies in various regions globally.
Cryptocurrency started as an unknown technology but today, it represents a global multi-billion dollar industry growing at an impressive rate. However the limitations, crypto industry have created a name for itself. With various organizations pushing forth the global adoption of cryptocurrency, this current position of Coinbase points to a unique picture. Global cryptocurrency adoption is possible and near.
Pornhub Add Tron-based USDT Tron as Payout Method.
Leading website for pornographic contents Pornhub has added the Tron based USDT stablecoin to its platform.
This addition is coming few months after PayPal abruptly stopped offering Pornhub its services thus restricting thousands of models all over the world from receiving payments.
Ever since then according to Pornhub, it has been hustling to start offering more options to make payments easier for its models.
On January 23rd, Pornhub announced its addition of stablecoin Tether to its platform as a payout option. Educating those who may not be familiar with cryptocurrency and stablecoin, Pornhub explain saying ” For those of you who may not know, USDT is a crypto currency that follows the US dollar, meaning one USDT token is equal to one US dollar. USDT transactions can be done globally within a few seconds and there are no fees.”
Tweeting on the addition, Founder of Tron Justin Sun commenting said, “This is a brilliant way to support the victims of centralized payment platforms like PayPal.”
Partnership agreement TRON and USDT
Early 2019, TRON which formerly was an ERC20 Token before migration to its mainnet and USDT partnered to issue a Tron based USDT stablecoin compliant to the TRC20 standard. According to TRON, the token will be interoperable in all TRON based products.
Pornhub has thus leveraged this partnership to ensure its models receive payouts through the TronLink wallet as soon as possible.
PayPal’s Abrupt Censorship
In the last quarter of 2019, PayPal abruptly out a stop to its support for the leading global adult entertainment website Pornhub. The decision came as a shock to the organization since there was no communication prior to the termination of support and models were expectant of their payouts.
This decision has put Pornhub on the toe to provide more options for its models to receive payouts.
Verge XVG Partnership
Tron based USDT isn’t the only cryptocurrency supported on Pornhub. In 2018, Pornhub partnered with XVG Verge to integrate the privacy focus cryptocurrency unto its Pornhub Add Tron-based USDT Tron as Payout Method.While the crypto community went agog with the news of adoption, models were not so enthusiastic because of the education level of using cryptocurrency.
Akon Finalizes Agreement to build Fully Functional Crypto City, Akon City
Senegalese/American national and global musician & businessman Akon has finalized the agreement to build Akon City. A city fully powered by the cryptocurrency, the Akoin.
The announcement which was made via the singer’s his social media account contained few words but has been a building story for several months.
Just finalized the agreement for AKON CITY in Senegal. Looking forward to hosting you there in the future pic.twitter.com/dsoYpmjnpf
— AKON (@Akon) January 13, 2020
Akoin according to the cryptocurrency website is “a new cryptocurrency from visionary changemaker Akon and is the foundation of the AKoin Ecosystem – a unique global project that offers an abundance of digital and in-real-life platforms and experiences that create opportunity and inclusion”.
The website went on saying “Akoin will provide a much-needed platform for individuals to gain access to educational materials, tools and resources to make their entrepreneurial visions a reality. This, in turn, will foster a more sustainable environment that encourages a focus on entrepreneurship over charity.”
Akon City named after the himself according to the Rapper will be built on a 2,000 acres of land provided by the President of Senegal and it will be a fully functional crypto-based city with Akoin as the transactional currency.
The “Lonely” singer has stated himself that the City will a short drive from the country’s capital, Dakar. It’s also going to have an airport.
The singer believes that the initiative will bring power back to the people and also security to the currency system. It will also allow people to in various ways to advance themselves and not rely on government’s intervention.
On the technicalities involved in the project, Akon who noted he would want to run for the Presidency, stated that he only comes up with the concepts and knows nothing about the technical aspects but he lets the geeks figure it out.
The project according to the rappers and business man said, it will be a 10-year building block and though the project has started, stage two will commence from 2025.
Italian Football Club Juventus Now Has Its own Crypto Token $JUV.
Italian football Club Juventus has partnered with sports focused blockchain firm Socios.com to launch a cryptocurrency token $JUV.
Socios.com is the world’s first blockchain-based fan voting and rewards platform. A tokenized voting platform that gives fans the power to crowd-manage their favorite sports teams.
The token which football fans can purchase via the Social’ App grants holders the right to vote on certain club decisions and earn rewards.
In sport focused token offering ‘Fan Token Offering FTO™, a significant number of the 20,000,000 total supply the JUV token is already available for sale to interested fans.
Giorgio Ricci, Chief Revenue Officer of Juventus speaking on the development said;
“We are proud to be the first Club to be activated by Socios.com on its platform, inaugurating a new way to interact with our fans around the world”.
The price of $JUV will fluctuate according to supply and demand once the marketplace feature is launched, and Fan Tokens can be traded by fans on exchanges.
Alexandre Dreyfus, the founder and CEO of Socios.com who also commented on the partnership between both organizations said;
“99.9% of sports fans are not in the city/country of the team they are supporting. We created these fungible fans tokens to allow fans to have an influence over some fan-based initiatives”.
$JUV is currently priced at around €2 (~$2.2) apiece. A limited number of these tokens are also available for free via Socios app’s Augmented Reality feature, Token Hunt.
According to Socios.com, it also has other clubs that are ready to join its platform and six are already lined up for tokenization by Q1 2020.
These include Paris Saint-Germain (PSG) and Atlético de Madrid (tokens for which will be launched in late January); West Ham United, Galatasaray and A.S. Roma (in February) and esports provider OG (in March), per the announcement.
The Socios app is available to download for Android and iOS users can apply for a beta version of the app.
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