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.
Do Crypto Movies Really Educate?
Cryptocurrencies have come to stay and have found a way into the entertainment industry. Since the inception of Bitcoin in 2009, getting cryptocurrencies to go mainstream has been the aim of crypto and blockchain enthusiasts. A huge breakthrough has been made over the years with Bitcoin finding its way into the Merriam Webster Scrabble dictionary. Asides this, a couple of businesses now accept bitcoin. The importance of the media in creating awareness cannot be overemphasized. Now, the question revolves around whether crypto related movies have any positive impact on adoption or awareness.
A lot of documentaries have been made on cryptocurrencies since the inception of Bitcoin. The movie ‘Banking on Bitcoin’ is a documentary released in 2014 which explains the disruption bitcoin can bring into the financial system. The great thing about these movies is that they spend time educating people on different aspects of cryptocurrency. “Bitcoin in Uganda – Empowering people” is a 5 minutes crypto documentary created in 2018. This documentary shows the real power of cryptocurrency in remittances and cross-border transactions.
While most of these crypto movies are not mainstream, they do a lot in explaining the power of digital currencies. These documentaries chose different aspects of digital currency and focus on revealing more details about them. In fact, Bitcoin Big Bang, a 104-minute screen piece gives details on the Mt.Gox hack. The story focuses on the arrest of Mark Karpales, the CEO of Mt. Gox in Tokyo after the exchange was hacked and about 850,000 Bitcoins was reportedly stolen. The importance of documentaries such as this cannot be overemphasized
Going Mainstream Media With Crypto
Although there are a lot of low budget documentaries on cryptocurrency, high budget movies are beginning to spring up. ‘Deep Web’, a documentary about Ross Ulbricht trial on Silk Road had a budget of about $80,000 which was raised through Kickstarter. TV Shows such as Billions have episodes dedicated to cryptocurrency.
In fact, Dope is one of the first movies to accept Bitcoin. The movie which had a budget of $7,000,000 was the first movie to accept Bitcoin, this was due to a partnership between GoCoin, Lionsgate and Movie Tickets. Partnerships such as these go a long way to push crypto education mainstream. Also Hollywood blockbuster, ‘Crypto’ was released in April 2019, however, it was a movie about money laundering which involves crypto.
Is Crypto the Big Bad Wolf
As more movies begin to talk about cryptocurrency, the question remains if these movies are for crypto education or just on the move to portray crypto in a bad light. Crypto, the movie which features Beau Knapp and Kurt Russel promises to be a movie about digital currencies or is it? While many have praised the movie for the talent of the actors, a lot of persons are not so pleased with the script with many accusing it of scaring people away from Bitcoin.
Typical of every money laundering or compliance movie, the Russians are always the bad guys. However, does this movie portray crypto as a means of payment which is secure and fast or is it just an easy way for laundering money? While Hollywood still has a long way to go in crypto education and awareness, they must be praised for paying attention to details. From the representation of Ledger’s Nano in Billions to Crypto featuring images of a cryptocurrency exchange called Cryptocurrency market, progress is being made. However, anyone looking for cryptocurrency education will do well not to rely totally on these Hollywood movies.
This is why we have decided at Cryptotvplus to take it a step further at educating the populace on Crypto, its impact and what the future holds. Cryptotvplus will be reeling out interesting short movies bothering on crypto where anyone whether you understand the intricacies of cryptocurrencies or not will not only be educated but also become more than a spectator by participating in this revolutionary shift in the evolution of money and global finance. More on this in my next piece.
What topics or areas in Crypto would you like to see a short film done? Do you have any title in mind? Share your thoughts with us in the comment section below.
Digital Assets Exchange Luno Launches Cryptocurrency Literacy Tour For Varsities in Nigeria
Luno has kicked off its cryptocurrency adoption program for Nigerian universities dubbed “Cryptocurrency Literacy Tour for Universities” launching out with the University of Lagos as the first of a series of tour where it will go about canvassing for the favourable adoption of cryptocurrency through knowledge in 6 Nigerian universities.
Luno, an exchange based off of South Africa was launched in 2013. It has since continued its growth trajectory by adding new users across 40 countries spanning more than 4 continents. It presently boasts of up to 3 million registered users across its platform with Nigeria as one of its biggest market.
Speaking on this development, Owenize Odia, the Country Manager for Luno said:
We are committed to educating our customers given the nature of the market and the tendency for people to fall into the wrong hands while online
With its debut tour kicking off in Unilag and having 300 youths in attendance, Luno is clearly taking the charge to bringing about perceptual shift and a favorable disposition towards cryptocurrencies which it says has not been properly understood. Through its representative Odia, it argues that the current financial systems was built for a non-digital age, ignoring the needs of the modern individual. Citing on the decentralized nature of a peer to peer digital currency like the bitcoin, it is not dependent on any central government or authority as obtainable with fiat.
She continued by saying
We are contributing by investing heavily into our Luno Learning Portal, which helps the public, the media, and other stakeholders educate themselves about the facts, opportunities, and risks in the cryptocurrency market,
In her post on LinkedIn, Odia assured the participants and other stakeholders that Luno would continue to focus on awareness initiatives such as this in Nigeria and Africa at large, thereby providing a reliable platform where just about anyone can visit either buy or sell cryptocurrencies.
AfricaBlockchainUG19 Conference Launches
Scheduled to Hold on the 3rd & 4th July by the BlockchainaUG’s Kwame Rugunda
The AfricaBlockchainUG19 Conference recently launched by the Blockchain Association of Ugandan’s Chairman Kwame Rugunda and some strategic partners is scheduled to hold in Kampala on the 3rd and 4th of July, 2019 according to a Tweet. This conference is expected to assist the Africa continent in tapping into the vast opportunities from the Fourth Industrial Revolution.
The conference according to data on the blockchain Uganda’s website featured will accommodate about 3000 delegates, 50 speakers and feature at least one Tech Expo. The conference is focused on Blockchain Technology, Artificial Intelligence, Robotics, Internet of Things, Drones technology, and Big Data.
The Blockchain Association of Uganda, BAU which is based in Kampala, Uganda is a membership organization that consists of individuals & organizations that are interested in promoting blockchain related technologies and capabilities.
The 2018 edition tagged “The Role of Blockchain Technology in Africa’s Transformation” featured key speakers such as the President of Uganda Yoweri K. Museveni, Former President of Mauritius Ameenah Gurib-Fakim, CEO of Binance Changpeng Zhao, the Governor of the Bank of Uganda, Tumusiime- Mutebile.
Meanwhile, this conference is coming at a time just after the Blockchain Africa Ladies Conference in Lagos, Nigeria which saw the attendance of speakers travel from the world coming over in April 2019 and its Second edition which will be holding in Ghana within the same quarter.
Uganda is one of the fastest blockchain growing nations in Africa and this can be attributed to the reception of the technology by the President as against those of other Africa countries. This reception is evident in the acceptance and activities of Top Cryptocurrency Exchange Binance in the Country.
More so, Uganda is one of the fastest growing economies in Africa and currently home to over 45 million citizens which is an increase of 3.27% from the previous year of which 17.5% are urban dwellers. The population Density in the country is rated at 229 per kilometer square with a land area of 77,147sq miles.
Tickets are currently on sale on the website and it can be purchased here to secure a sit at the AfricaBlockchainUG19 Conference.
2020 Blockchain Revolution: Industries Will Fully Adopt The Technology
In a previous article, I did well to highlight a few important areas where Blockchain technology will affect predominantly in 2020.
Also, I have written another article which lists the interesting industry applications of blockchain Technology that will inspire adoption in 2020.
BLOCKCHAIN IN INDUSTRIES
Over a thousand and one financial sectors have already keyed into the use of blockchain-based applications to facilitate, protect and automate their operations and functions. among others, IBM is cooperating with the government in Dubai and they are currently delivering smart contracts that can optimize traffic in maritime goods flowing through the emirate’s port.
It is now no more rumors that the Financial institutions in Dubai are to transfer their transactions to the blockchain by 2020.
2. Voting System
As I write, a company has tested the blockchain system with a few private elections. Estonia also adopted blockchain, for all transactions or vote, when recorded on the blockchain, it’s close to impossible to hack or modify.
Blockchain enables for innovative anti-fraud algorithms in the process of voting. we expect that by 2020, there would be a major change to voting with the application to blockchain technology.
3. Real Estate
Many predictions have been made by experts that contracts which define blockchain-based property lease will begin to come into existence by 2020. The efforts of blockchain technology will be well felt in real estate in the incoming year.
4. Publication or Content Distribution
Blockchain will be most applicable in the publication and content distribution sectors. Blockchain allows the content writer/publisher/artist to make available their content be it music or written, directly on the blockchain which makes it accessible to every end-user connected to the blockchain.
TRON, emerging technology on the blockchain has fueled this concept and has created a decentralized entertainment eco-system.
In the coming year, blockchain will be applied in content distribution prompting artists and content creators to earn royalties on their products for as long as possible without even committing to a particular record label. brand independence.
5.SCM ( Supply Chain Management )
This is one among the list of industries where blockchain will make its advances felt by 2020. Supply chain management is a huge and tedious process. The use of blockchain technology in SCM can make it simple with less or no issues.
The above-discussed concepts have strongly portrayed that blockchain is gonna be the stem of the ever-growing digital world by 2020. So, Hopefully, there will be tremendous changes in countries, industries, businesses, etc and that could be made by blockchain technology.
Stay tuned with us to get much more interesting aspects of the blockchain space!
PhotoCredits: Visual Capitalist
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