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
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Japan’s LIQUID Exchange Announces Telegram Digital Token Public Sale
Japan’s top cryptocurrency exchange Liquid has announced the upcoming Public Sale launch of Telegram digital asset token for the (Telegram Open Network).
As reported by Finance Magnates, this development is made possible by Liquid’s recent partnership with Gram Asia, the largest holder of the native token of TON blockchain in Asia. Public Sale for the TON token will commence by 10th of July 8 am UTC and is open to accredited LIQUID Exchange users. Interested participants in the public sale are also expected to have enough funds in their accounts.
Excited Mike Kayamori, co-founder and CEO of Liquid, “We are excited to be partnering with Gram Asia to launch the Gram token sale, which is wonderful news to our community who are native users of Telegram. We share the vision for a more secure and open value transfer system in order to enable the mainstream adoption of cryptocurrencies.” said.
It should be noted Telegram organized a private sale in 2017 when it announced plans to launch its own Blockchain and native token via the no longer popular ICO. It raised a total of $1.7 billion via private sale as at March 2018 making it the second largest amount raised through ICO second only to Block.one’s EOSIO which still ranks tops after raising over $4 billion.
“The TON Blockchain infrastructure can help enhance Telegram’s current capabilities as a peer to peer network of value, with the launch of their cryptocurrency light wallets for Telegram’s highly engaged user base,” Kayamori continued.
As TON is expected on its own Blockchain, Liquid Exchange will make provision for integration of the TON compatible wallet where investors are expected to receive TON tokens upon the launch of TON Mainnet which is expected to go live by October 2019. As Japan’s first FSA licensed global exchange, it assures its users of an unconditional refund should the initial plans not follow through by the TON Team.
“As the first Japan FSA licensed global exchange, Liquid has demonstrated strong governance capabilities for protecting its users; therefore, I firmly believe Liquid is the right partner to launch this historic token sale. We are excited to invite all believers in Telegram’s vision, globally and in Asia, to build on top of TON, leveraging the critical mass of Telegram’s user base.” Dongbeom Kim, founder and CEO of Gram Asia, said.
Sparkster Unlocks Tokens for Contributors One Year After ICO, Lists on Bithumb Pro
Sparkster has unlocked the Sparkster Token (SPRK) one year after ICO contributors bought in and announces listing on Bithumb exchange.
Sparkster is a blockchain project that prides itself in bringing the blockchain revolution to a new level, as it claims. It is a platform that enables just anyone to build software without writing code and the ability to run that software on the Sparkster Decentralized Cloud, a specialized blockchain that can support more than 10 Million TPS. It claims blockchain is too complicated and too slow to be adopted by mainstream business hence Sparkster’s Decentralized Cloud runs its software on users smartphones, avoiding server costs. The community earns tokens for making their devices available, and the business world enjoys much lower cost Cloud Computing.
It held an ICO during the month of July last year, raised its revised hard cap of $22.2 million and has since distributed tokens to contributors who found out they couldn’t trade even on decentralized exchanges such as Forkdelta or IDEX as it was locked by the project team.
This sparked outrage within its community of which series of AMA was being held to quell the situation. By March 2019, Sparkster team continued to assure its community that the unanimous decision taken by the team to lock its token was in the best interest of the project and its community and that big news was on the way to being announced.
Consequently, after a few months, it announced the token unlock and major exchange listing would happen on the 9th of June 2019. With much anticipation from its community and many of them expressing their doubts as this might be another antic by the team to make them keep faith with the project they considered a colossal disappointment, the Sparkster team acted through to its word by finally unlocking the SPRK token about a year after ICO.
Token price as at press time is $0.019 as compared to $0.15 which was its ICO price. It continues to assure its community that present token price does not reflect the overall value of the project and has since announced the listing of its token Bithumb Pro which is different from Bithumb.com, Korea’s largest digital asset trading platform.
It has also released ready-made products which the SPRK token is supposed to power as a utility token.
Blockchain And AI conference 2019, BMCT Gives Away Token to Participants.
Did you know that Beepmagnet is giving away their BMCT tokens at the Blockchain and AI conference? read through to find out how you can get this giveaway in a few minutes!
“With the pace at which technology is racing, if as Africans we do not catch up or become interested, then a repeat-colonization will not be far off. The worse that can happen to Africa is Technological Colonization. As Africans, let’s not mistake Hope for Achievement or Social Economic Hype for Reality. I believe we may not be able to solve all of the African challenges, Beepmagnet International Group has therefore resolved to contribute its quota to hoist and fly high the African flag in the technology space by focusing on Consumer Loyalty solution with a laser focus by applying the Blockchain Technology.”
These were the words of the Founder and CEO Beepmagnet International Group. Read more from him as he discusses their new wallet launch.
SiBAN Feedback from the Largest Blockchain Conference in Nigeria
In other news, Technology will drive innovation and digital transformation in Africa but educating the public on various areas to harness its potentials is paramount! We were live at the #LagosBlockchain2019 Conference put together by Blockchain Nigeria User Group It was educative informative and featured a whole lot of locally inspired Blockchain projects- some of which are Kudi Exchange, BMCT.io, Sisibox, Birrion, python signals, Quras.io, xendbit, decred.io and lots more.
Participants at the #Lagosblockchain2019 conference #blockchain #ArtificialIntelligence #bitcoin #tech #CryptoCurrency #fintech @DashNigeria_Biz @mezie16 @AfriBlockchain @BlockchainAf @BitHubAfrica @BitcoinKE @kudiexchange @qurasofficial @pythonsignals @DecredCN @BeepMagnet pic.twitter.com/pRzQ2NuxJL
— Cryptotvplus (@Cryptotvplus) May 24, 2019
Senator Ihenyen who represented the president of SiBAN spoke with us on a what could be taken out of the conference and was sift to point out a few clear messages from the biggest blockchain meetup in Nigeria.
CLEAR MESSAGES FROM THE CONFERENCE
1. Keep building. Keep testing. Keep improving. Keep getting better until you have the best. In the end, it’s the market that will validate you, not your competitors.
2. Do not wait for the government to regulate you. And do not be in a hurry to invite regulation. You may not be prepared for what is coming to hit you because the regulators most likely have no idea beyond the fear that you create in your own industry.
3. Though no regulation, self-regulate so that when the hammer strikes, it is a blacksmith’s hammer on your metallic model and structure because you were already fired up for it.
4. Collaborate. Don’t be an islander. Islanders belong in a centralized space, not a decentralized economy. Embrace the power of p2p by making your solution democratization of values. Think user, not the owner. Users are where the gold lies. Dig for gold.
In his remarks, the Conference was well organized and well attended. While appreciating the members of the organizing team he wished them All the best as they prepare to wrap it up today with the Masterclass.
Great appreciation to SiBAN Chairman who couldn’t make it to the Conference but asked me to represent SiBAN. I am happy to say that SiBAN was well represented, even if I had missed the Conference today. We thank every SiBAN member who came out for the event, especially those SiBANites from outside Lagos!
Senator Ihenyen appreciated members of the SiBAN community who were available for the conference. in his words,
Special thanks to Vaultbridge. Your presence and support keep bridging the gaps in the space.
And of course, congrats to the convener Chimezie Chuta for today’s successful outing.
BMCT Gives Away Token to Participants
Beepmagnet Announces the Launch of BMCT Wallet on Play Store and Apple Store https://t.co/zK8gHLpVCd
— Cryptotvplus (@Cryptotvplus) May 24, 2019
Sisibox Give Out 0.125 BMCT to 400 Attendees who will join Day 2 of the Lagos blockchain conference taken place at The Civic Center.
This is in preparation for BMCT listing on 2 Exchanges which has commenced and to be among the First pioneers’ transactions recorded on BMCT blockchain.
1. Visit our Booth to receive your 0.125BMCT
2. Register with sisibox
3. Download BMCT wallet on play store ( BMCToken)/apple store (BMCT)
4. join our newsletter group on https://bmct.io
SISibox Team will use 5mins to educate you about the BMCT wallet and its feature: both for users and merchants and its security protection enabled.
In addition, Those who buy a combo pack, gets instant additional 0.125 BMCT, while regular gets 0.0625BMCT instantly in addition to the BMCT loyalty in The sisibox Pack at the Day 2 program.
Note: Do not Copy or screen shoots your passphrase during the BMCT wallet creation, write out the passphrase on hard copy record offline.
EOS Israel Leader Joins Proof of Location blockchain protocol Platin.io
Platin, the leading Proof of Location blockchain protocol, announces the addition of EOS Israel Leader, Hernan Arber, to its team.
While both Arber and Platin’s founders are regulars on the Israeli startup scene, with Arber having graduated from Israel’s prestigious Institute of Technology — the Technion’s computer science department, and Platin’s team conducting research in the Technion’s networking and cryptanalysis labs, it was the Global EOS Hackathon in San Francisco that brought the team together.
Hernan became aware of Platin when news of how Platin’s co-founders Allon Mason and Dr. Lionel Wolberger showcased Platin’s technology and presented at the closing ceremony of the 2018 EOS Global Hackathon in San Francisco when Block. One’s investment in Platin via its EOS VC arm was publicly announced.
With Platin on its radar, Arber and Platin started strategizing on ways to further accelerate Platin’s integration into EOS, and a powerful collaboration was born.
Blockchains are about community and powerful consensus algorithms.
Arber has a proven skillset in both domains and a passion for everything EOS. A full stack programmer who has deployed mobile and cloud services, Hernan is also the heart and soul of the thriving community of EOS aficionados in Israel through EOS Israel (also see EOS Israel on Twitter).
Hernan is initially focused on shepherding the new Platin EOS token, PTNE, including reviewing Platin’s GEOS geospatial libraries on EOS as well as the Platin-on-EOS architecture to enable more use secure geospatial-based use cases on EOS.
Platin is a secure Proof of Location protocol based on activity recorded and exchanged by means of ordinary smartphones or more specialized devices. Platin incentivizes nodes at scale by means of its own blockchain-based cryptocurrency ‘PTN’. The result is a secure location protocol that is ubiquitous, stackable, reliable, and suited for integration with any business based on location such as supply chain, money and location verifications, LBS-enabled commerce, token geofencing, KYC+AML, and more. Platin’s™union of secure location and cryptocurrency at the protocol level is disrupting industries across the world. Platin — Location is Everywhere™.
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