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FarmCoin Set to Transform the Face of Loan in Africa’s Agricultural Sector

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The blockchain technology is presenting boundless possibilities to farmers in Africa as Swarm a blockchain for private equity has presented the agricultural sector with an investment opportunity. Swarm is creating an opportunity for farmers in the FarmCoin Pan-African financial and commodities ecosystem through its marketplace. The idea is to give benefits to all stakeholders in the agricultural sector. By giving investors an opportunity to reach the poor, unbanked African farmers population, you also offer the farmers a life-changing opportunity.

The CEO and Co-founder of Swarm Philipp Pieper explained, “This puts Swarm in one of the most exciting places for crypto – ground zero for much of the world’s unbanked. Our strategy is based on using our unique ecosystem to create real value to hundreds of millions of people, enabling them to trade responsibly with an objective of increasing income to farmers to deliver economic security across Africa.”

The company also has an aim of educating farmers to keep up with the current revolution, Philipp explained, “By 2030, the population of Africa will have doubled to 2.5 billion, creating a profound need for a supportive and educational ecosystem that gives farmers a route to improve themselves and take their families away from everlasting cycles of poverty, starvation, and dependency. Blockchain and smart contract investments like FarmCoin enable market inefficiencies such as corruption, market access and perception-based debt costs to be removed.”

FarmCoin is presenting African farmers with an option, instead of allowing the surplus crop of African subsistence go to waste and rot, farmers will be able to bring the surplus to a warehouse. These farmers will also get paid immediately for the goods as well as get financing via a loan of FarmCoins. The platform also presents an opportunity for the deposited crops to be sold through a FinComEco facilitated commodities exchange and farmers are also advised on pricing via mobile texts. FarmCoins will have an interest rate that will be mutually agreed upon, the interest rate will be decentralized and it will also be more than 50 percent lower than the current bank lending rate and 75 percent less than the commercial rate.

Executive Chairman, Chris Cleverly of Block Commodities, lauded the initiative, “FarmCoin will give investors not only a unique investment opportunity in one of the prime “unbanked” global markets but also the chance to lend a helping hand to improve the lives and opportunities of Africa’s poorest farmers. Support from Swarm Fund allows Block Commodities and FinComEco to make real progress on these goals, enabled by blockchain technology.”

FarmCoin will have her fund go live on May 21, and investors who participate via Swarm’s marketplace will have to purchase FARM tokens which will represent a fractional ownership in FarmCoin infrastructure. Also, FARM token holders will benefit from a share in the fees and interest paid by the farmers. We cannot wait for FarmCoin to come to fruition and see the agricultural sector get transformed.

 

 

What do you think about FarmCoin? Share your opinion with us in the comments section below.
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Nile University has partnered with Cryptography Development Initiative in Nigeria (CDIN)

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Abuja based tertiary institution, Nile University has partnered with the Cryptography Development Initiative in Nigeria (CDIN) to help equip students of the University with the necessary tools needed in the current digital age.

The MoU which was signed on the 15th of October, 2019 with the attendance of the Vice Chancellor of the University, Professor. Dr. Osman Nuri Aras and Mr. Adeolu Fadele, the President of CDIN.

Also present were other officials of the institution such as the Deputy Vice Chancellors Professor Steve Adeshina and Professor Nurettin Can. Others from other facilities were also present.

The partnership according to the Vice Chancellor of the University, Prof. Nuri Aras believed will help prepare the students of the University to face the digital world with the necessary tools.

Deputy Vice Chancellor – Admin, Professor Nurettin Can contributing said “the partnership with CDIN will provide the University’s students a wonderful opportunity to supplement their theoretical knowledge with valuable practical experience.”

President of CDIN Mr. Fadele Adeolu speaking on the partnership said Nile University has shown foresight in partnering with CDIN as not very many academic institutions appreciate the value of skills offered by the initiative.

About CDIN

“The Cryptography Development Initiative in Nigeria is a non-governmental organization and a platform for bringing stakeholders in Nigeria to work on a common interest of addressing gaps in cryptography.

According to its website CDIN envision Nigeria among nations of the world leading advancements in cryptographic innovations and breakthroughs.

It’s mission is to create a platform for encouraging the learning and practice of cryptography in Nigeria and collaboration among relevant stakeholders.

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Tokyo-based Cryptocurrency Exchange Adds 5 New Altcoins to Its Europe and US Platforms

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Bitflyer, a Japanese cryptocurrency exchange based in Tokyo made this announcement very recently. It recently announced the addition of new cryptocurrency offerings on its trading platforms. The five new altcoins will be added to its Europe and Us platforms. The European platform will have access to: Bitcoin Cash (BCH), Ethereum Classic (ETC), Litecoin (LTC), Lisk (LSK) and Monacoin (MONA). The US customers will have immediate access to three of these coins: BCH, ETC and LTC.

Bitcoin anticipates that by adding these new Altcoins, it is expanding its buy/sell offer. This will, therefore, give its customers instant access to some of the largest altcoins in the world. These coins have already been made available to its Japanese customers. The firm admits that the response from its Japanese customers was tremendous. This is possibly a motivation for the extension of two of its most significant customer bases- US and Europe. With Bitflyer’s experience in Japan, it believes it can offer the same to its European and US customers. Its standards of simplicity, efficiency and transparency to current Bitcoin and Ethereum traders would be maintained.

Bitcoin has made efforts to upgrade its products and services. It joined forces with Tpoint Japan last month to launch a Tpoint program. This program enables users to acquire T-point rewards while making Bitcoin purchases. The T-points acquired can then be used to earn Bitcoin.

Bitflyer partnered with Sumitomo Corporation in July to transform the real estate industry in Japan. With this project, the rental customers can complete a house renting process using their smartphones. The Miyabi blockchain which is driven by smart contracts will bring about a revolution in the country’s rental processes. Thus, reducing time and administrative costs incurred in handling such issues. It is obvious that Bitflyer is out to provide service upgrades to its customers this year.

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SEC Charges ICOBox & Founder for Illegal $14 million Securities Offering

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The Security and Exchange Commission of the United States SEC has filed a lawsuit against ICOBox and its founder Nikolay Evdokimo for the conduct of an illegal securities offering of ICOBox’s crypto token.

The investigation which was carried out by Brent W. Wilner also charged ICOBox for acting as an unregistered broker for cryptocurrency token sales ICO.

Based on SEC press released, ICOBox in 2017 sold unregistered digital assets to the public to raised funds in order to build a platform for initial coin offerings ICO. The amount raised was from over a couple thousand investors amounting to an estimated sale of over $14 million worth of “ICOS” tokens.

It was revealed that ICOBox assured investors the token would increase in value upon trading on cryptocurrency exchanges and holders will be able to swap them at a discount for other digital asset offerings on the platform.

The assurance of ICOBox was not met as the ICOS tokens became of no worth. According to SEC, the defendant acted as a broker but failed to register as one and help to facilitate the sales of digital assets to several dozen clients who raised over $650 million.

According to Regional Director of LA Regional Office Michele Wein Layne, ICOBox and its founder, Nikolay Evdokimov ignored the registration requirements of the federal securities law and exposed investors to investments which are now virtually worthless, without providing them information that is essential to investors to making informed investment decisions.

Based on this, the SEC has charged both the platform and its founder with violating the registration requirements of the federal securities laws and seeks injunctive relief, disgorgement with prejudgment interest and civil money penalties.

The investigation was supervised by Victoria A. Levin, Alka N. Patel, and Ms. Layne of the Los Angeles Regional Office.

ICOBox described itself as “the first and the biggest new generation Blockchain Growth Promoter and Business Facilitator for companies seeking to sell their products via ICO/STO crowdsales”.

The litigation is being conducted by Amy J. Longo of the Los Angeles Regional Office, SEC revealed.

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BAL Announces Partnership with French Non-For-Profit Blockchain Organization TAAL to Spread Globally Awareness on Blockchain Technology

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The Blockchain African Ladies has partnered with TAAL, a French Non for profit Blockchain training hub for women. TAAL which is an acronym for Technological Association for Advanced Learning is an organization dedicated to helping people understands new technologies; promote inclusion and equity in the blockchain sector.

Blockchain African Ladies (BAL) is a non for profit educative forum that brings together African women via blockchain education. It aims to educate African ladies on the potentials and opportunities of the technology and how they can utilize it for financial inclusion.

As an organization spread across various nations in Africa, BAL wants to build stronger ladies who will bring about great innovations from the blockchain technology. From regular meet-up, workshops, conferences, mentorship programme etc, BAL seeks to raise courageous, innovative leaders in the blockchain space.

The partnership with TAAL according to BAL is to help more women to discover Blockchain technology around the globe. “It will strongly promote innovation & inclusion for women through education. The synchronous visions of both organizations to increase adoption of Blockchain technology is a great move to promote diversity in unity.”

Blockchain technology has continued to invade various aspects of the human civilization. What was once considered a buzz word few years ago has now created an industry of its own. Cryptocurrency being the first application built using the technology has and is redefining the face of commerce globally.

As the technology presents fascinating opportunities, it is imperative for individuals to exploit them for the betterment of self and state.

Blockchain Africa Ladies has continued to spread awareness on blockchain and the opportunities which it presents the African women. This is notably evident in her drive to spread the message across Africa with the Blockchain African Ladies Conference which held in Lagos and Accra few months ago.

TAAL organizes free monthly workshops to help discover new Technologies like the Blockchain. It helps members by guiding to free educational resources and of high quality to train and certify them.

Operating in Africa, Europe and America, TAAL has impact great number of women globally.

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