Connect with us

News

Kenya Gets Blockchain Based E-certificate of Origin

Published

on

The blockchain technology is revolutionizing the way we do business and the commercial industry is buying into the technology. The Kenya National Chamber of Commerce and Industry (KNCCI) will be working with a Fintech company, vCargo Cloud (VCC) to issue blockchain based Electronic certificates of origin (eCOs) in the country. The first Blockchain bases Electronic certificates of origin was Launched in Singapore in May, 2018. It is not a surprise that Kenya is taking a leap in that same direction. The country is making a move to modernise its trade facilitation processes.

Export is one means of generating revenues in a country and eCOs are export documents that certify the country a shipment was manufactured. They are  usually among the documents used in a trade finance transaction and are required by customs, banks and traders to verify goods. But with the application of blockchain based eCOs, a more instant digital capture and processing of eCOs is provided. The solution will be built on the blockchain and stored in a private ledger. This means that only customs, banks or any other parties related to the trade cycle can gain access to them.
The CEO of VCC, Desmond Tay tells GTR that the solution will be similar to the one used in Singapore, it will be  slightly converted to suit the specifications of the KNCCI. He explains, “After the success in Singapore, we have been trying to bring the blockchain eCO solution to other places around the world. We are in discussions with a few chambers in Africa and Southeast Asia and expect to see further expansion soon.”
Numerous use cases of the Blockchain technology to  trade and commerce has been explored by other companies who have begun launching blockchain-based solutions for trade in Africa. For instance,  IBM has started on a supply chain finance platform that utilises artificial intelligence (A.I) and the blockchain technology to extend micro-loans to small businesses in Africa. Also, Wala and Block Commodities, a fintech and trader platform respectively, have partnered to launch a cryptocurrency micro loan and  commodity financing solution which would provide up to US$10m worth of loans to about 50,000 grassroot farmers in Africa.

On the other hand, VCC is focusing on trading documents. The company already has an office in Nairobi and has plans to expand to Sri Lanka, Japan, Myanmar, as well as numerous East African countries. CEO Tay explains that they are already in talks with chambers in these countries about bringing their platform there.


 

What do you think about blockchain based e-certificates? 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.

Spread the news

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

Advertisement
Comments

FEATURED

Ripotr: Tokenizing Loyalty in Brand Businesses

Published

on

RIPOTR: Tokenizing Loyalty among Brand Businesses

Startups always come to make life a lot less difficult for the community while also promoting financial benefits for the project. This opinion is shared among the very many projects around the globe including the CEO at RIPOTR. In a recent chat with Raymond, he does well to bring us an update on the  Loyalty based Business project.

It is no news that business-merging produces positive economic impact. The problems of Ignorance in relation to business-merger techniques, paperwork hassles and all that are some of the reasons we are not seeing a lot of mergers especially in Nigeria. RIPOTR provides these much needed unique business management solution to mostly small and medium scale businesses.

In his words, what RIPOTR does is create awareness of the benefit of small and medium scale enterprises merging, and also provides a platform to enable businesses to merge without hitches while still maintaining individual ownership of their businesses by using a franchisor Business model that exists on the Platform.

These are the key features of the business model
1. Providing a merger platform for businesses to merge and increase customer base.
2. Distributing free company shares in cryptocurrency tokens to customers that patronize businesses in the merger network
3. Maximizing marketing resources by Giving financial incentives to clients that help the merger network grow its customer base through recommending and inviting prospective businesses and clients to join the community.
4. Introducing a mobile payment system that ensures a profitable distribution of income from the merger.

“Any business or service provider can join our partner’s network, add their clientele to our database and then share in profit generated from the merger.”

how-it-works

When asked how RIPOTR works, Raymond had this to say;

Getting businesses to collaborate in some sense is key to success at RIPOTR
1. A business or service provider Signs up and gets registered with us to join the merger network of businesses.
2. The businesses get their every client registered into our database under them so we can track when these clients patronize other businesses in the merger and send them a commission.
3. Registered businesses use our mobile payment system to receive payment so as to enable effective transaction tracking and profit sharing.

BENEFITS FOR BUSINESSES SIGNED UP TO RIPOTR PARTNER NETWORK

Increase in patronage

Every business that joins the RIPOTR network experiences an increase in patronage because of the vast customer base of the merger and also consistent online and offline marketing plus promotions. we encourage customers to patronize businesses in the partners’ network through the incentive of distributing free company shares (cryptocurrency token) of RIPOTR for every transaction completed with any business in the network to both transacting parties.

More income for businesses

For every business that joins the RIPOTR partner network and adds its existing clients to the customer base of the merger, we keep track of other transactions made by these clients in the partners’ network and give a percentage of it to the business. what this means is that businesses in the merger do not depend on only their business to earn income, they also earn from other businesses in the network that their clients patronize.

Vigorous and effective marketing for businesses

Marketing is key to the success of any business and customers recommendation is the most effective form of marketing. Our franchisor business model provides a financial incentive to clients that help with marketing and growing our customer base by recommending the merger platform and inviting people they know to patronize businesses in the RIPOTR network. Every business that joins the merger gets to benefit from this marketing model.

Improved customer experience with mobile payment.

Mobile payment is a trend that is quickly catching up with customers. Smartphones enable users to make purchases and make payments via the mobile channel, without them having to use cash or credit cards. with our mobile payment system, businesses can offer an instant, cashless payment to customers, thereby increasing their own customer base and enhancing sales.

Small businesses are by way of illustrations, like broomsticks, they need to merge together to have a meaningful financial and economic impact. RIPOTR provides the bind that holds these business mergers together and still allows them to have their individual ownership.

Our business model utilizes the cryptocurrency token reward economic model and multiple level commission sharing innovation to empower businesses and clients to work together to accomplish a common goal of financial prosperity for all.

Do you run a business or offer any services and would like to join the RIPOTR business merger network
Click here to tell us about your business

Contact us for more Details and Enquiries

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.

Spread the news
Continue Reading

Adoption News

Proposed Tron partnership with Liverpool In the Pipelines

Published

on

Proposed Tron partnership with Liverpool in the Pipelines
Picture Credit: Today's Gazette

Justin Sun, the CEO of Tron who’s extremely active on Twitter, tweeted a video earlier in the week hinting at a proposed partnership with the famous English premier league football club, Liverpool though some people have dismissed the video as inconsequential and criticized Sun for deliberately misleading people with the announcement.

The tweeted short video shows a red envelope that reveals a screen with the Tron logo alongside Liverpool’s. Then the manager Jurgen Klopp shares the philosophy of the football club, implying that the club is inviting Tron to partner with the football club.

The caption attached to the video by Sun says “Thank you for the unique and innovative invitation, Liverpool! I am impressed and I’m looking forward to exploring this #TRON new partnership together!.”

But the nature of the partnership is unclear, and Sun didn’t include any specific details about it.

Dismissed as fake

In another tweet, Kraken’s CEO, Jesse Powell, responded with a screenshot of an email sent to him from “Liverpool” about a partnership. The fake email included a reference to a video package that was sent to him. Jesse dismissed it as a scam.

Decrypt Media also claimed it spoke with a representative of Liverpool Football Club who allegedly confirmed that the club does not intend to have a partnership with Tron.

Though Sun has often been accused of creating false excitement in investors to drive up the price of its coin by announcing several partnerships, the Tron organization has sealed some exciting collaborations and acquisition in the past.

Proposed Tron partnership with Liverpool in the Pipelines

Tron past partnerships/acquisition

Tron, a blockchain platform focused on building a decentralized web and infrastructure, started on the Ethereum blockchain but launched its main net on June 25, 2018. Since then the project has made bold moves even in the middle of the recent bear market.

The notable companies Tron partnered with in the first quarter of 2019 include Tether and CoinGate. In January, it announced that ABCC cryptocurrency exchange would be the first to list the tokens based on Tron’s TRC10 technical standard.

Last year, Tron partnered with Binance in a bid to facilitate blockchain adoption around the world. Tron’s CEO donated $3 million to Binance Charity Foundation to use the blockchain technology to help people in the least developed part of the world.

Tron had also acquired BitTorrent, the popular peer-to-peer file sharing service, and went on to have a successful Initial Exchange Offering recording $7.1M in less than 15 minutes in the first session of the sale.

There’s been some speculation about what form this partnership with Liverpool will take. Maybe Tron could build a decentralized live streaming service for Liverpool’s matches, a decentralized game or Liverpool could create its fan token on the Tron blockchain.

Some football clubs that have created a blockchain token in the past include the biggest club in the top division of France Paris Saint-Germain, Italian soccer club Juventus and one of Brazil’s oldest and biggest club Atletico Mineiro.

Paris Saint-Germain and Juventus had partnered with a blockchain platform Socios.com to launch the Fan Token Offering, which allows fans to vote on decisions such as choosing the club’s jersey color, stadium music, and logo.

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.

Spread the news
Continue Reading

News

Man indicted in Israel  For Stealing Over $9 Million Worth of Dash

Published

on

There have been various reports of crypto hacks and theft. Although, the developer of the first blockchain based asset, bitcion, created it in such a way that it can’t be hacked without access to some pattern of words called seed phrases or private keys, it hasn’t proved its worth as scammers are ever more prepared to get hold of these keys by hook or by crook.

However, an individual’s wallet was tampered with as revealed by a report from media outlet News1 on the 18th of April, 2019. An allegation has been filed against Afek Zard in Israel for the theft of 74.990.74 Dash (around $9 million), belonging to Alexei Yariomenko.

While a lot of cryptocurrency exchange platforms have been hacked and cryptos have been carted away with. Some of these stolen coins have been restored as the culprits are being identified whereas some of the hacks cannot be traced. This is the case of a friend stealing another friend’s cryptocurrency as the report has it that Afek Zard and Alexei Yariomenko are friends.

The report reads thus:

“Afek Zard is accused of stealing a $ 6.2 million digital wallet from his friend Alexei Yaromenko’s apartment in Eilat. The indictment against him was filed Thursday (18.4.19.19) with the Be’er Sheva District Court.”

Alexei Yariomenko is being reported to have been an early cryptocurrency adopter and investor since 2013 and this has given him the opportunity to have accumulated much crypto assets. Yariomenko was the one who taught Zard about cryptocurrencies and he (Yariomenko) traded them himself before Zard turned against him and stole his Dash which according to CoinMarketCap data is equivalent to over 0.85% of the total circulating supply of Dash.

As contained  in the allegation, a document filed by the attorney, Giora Hazan, Zard possessed a key to Yaromenko’s apartment and also had  access to Yaromenko’s residence in his absence.

The report made it clear that the said stolen dash was there in the Yaromenko’s wallet until March 1, at the time the price of Dash was $82.5 per unit. The  prosecutor alleged that during the start of the month, the suspect used the alleged victim’s computer to steal the credentials to the Crypto wallets. It was at this point that, Zard was alleged to had stolen the contents of his friend’s wallet.

Zard was being assumed to had either stolen the dash himself or with the help of unknown users and then transferred the contents to four of its own wallets. It is based on this act  that Zard is being accused of theft in aggravated circumstances, money laundering and penetration of a computer to commit an offense.

Spread the news
Continue Reading

Bitcoin News

Bitcoin Donations Pouring In for Russia’s Main Opposition Alexei Navalny

Published

on

Russia’s main opposition Alexei Navalny is once again on the spotlight having received up to 591 bitcoins valued at about $3 million at current market prices through his official donation address for his organization.

Alexei Navalny who faces so many backlashes from the Putin government in Russia and also political victimization and arrests even up to being banned from participating as a candidate in the last presidential elections in Russia against Vladimir Putin was recently reported by a pro-Putin television network to have most corruption investigative activities tied to huge donations pouring in alleging it to be involved in paid political hits.

Navalny runs an investigative center, the Anti-Corruption Foundation (FBK), a whistleblower organization that regularly publishes alleged corrupt activities of government officials, not sparing high ranking officials such as the prime minister Dimitri Medvedev and  even the attorney general, Yuri Chaika

An anonymous Telegram channel on Monday known as “FBK Staffer’s Confession,” alleged the correlation between several huge donations to the Navalny organization’s wallet a few days before FBK published one of such investigation, alleging FBK is involved in paid political hits. This accusation was aired in major mainstream Russian media most of which are pro-Putin.

FBK through its chief of staff vehemently denied this allegation when contacted by Znak, a Russian news publication agency. Leonid Volkov FBK’s chief of staff  denied any connection between the transactions and its investigations, in his rebuttal he said the anonymous blogger “dragged the non-existent facts together in by the head and shoulders.”

Volkov continued:
“You can say that each time Encke’s Comet approaches the Earth it coincides with a big war: 1914 (First World War), 1941 (World War II) and 2014 (War on Eastern Ukraine). But its rotation period is three years, and it approached the Earth many times when there were no big wars.”

Navalny’s bitcoin wallet address conspicuously appearing on its official website have seen as much as 2000 transactions including donations and withdrawals since 2016 after receiving its very first donation. This is noticed as every transaction on the bitcoin address is open and transparent for everyone to see due to its decentralized ledger technology.

Navalny is not only the dissenting voice or movement in the Russian political space that has been involved in bitcoin donations, there are many others including Zona.Media and The Insider, as well as internet freedom movement Roskomsvoboda accept donations in bitcoin or ether but FBK appears to be the most prominent.

Spread the news
Continue Reading
Advertisement
Advertisement

Find Us

Address: 7 Kafi Street, Beside City Mall, Shoprite, Alausa, Ikeja, Lagos.

Hours: Monday—Friday: 9:00am–5:00pm

Contact: +234 817 866 6900

Advertisement

Trending