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Nigeria’s Bitcoin Trading Volume Rises to N1.7bn

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Crypto business is booming in Nigeria and more Nigerians are investing in it. A study has shown that about 56% of the crypto startups in Nigeria that raise money through token sales die within four months of their initial coin offerings (IOCs). However, despite the low lifespan of crypto startups in the country statistics has shown that the volume of local bitcoins transactions in Nigeria rose from N1.534 billion as at June 30, 2018 to N1.733 billion as at July 7, 2018. The highest the volume has been since March this year when volume rose to N1.735 billion.

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Kenyan Blockchain Based Insurance Company Gets Fund From GreenTec

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Kenya is moving up in everything blockchain as a blockchain based Bismart Insurance company will be getting financing from a  German start-up financier GreenTec Capital. Bismart aims to employ the blockchain technology to address the issues of financing and transparency. The company plans to start off with a small range of service and products that will be expanded quickly and aims to take hold of Africa.

Eunice Wagithi Maina, the founder of the company has spent 15 years in the insurance sector and now plans to embrace technology by developing a platform that embraces a more personal and trust-building user experience that has been the core of her business. The Bismart team will developed the interface of the business which will allow the distribution of insurance products across all of Africa.

Building an insurance platform will go a long way in Africa where most people fail to insure their life or properties. The platform will help increase the efficiency and transparency of Bismart through the implementation of “Smart-Contracts”. Erick Yong, CEO of GreenTec said “One of the biggest challenges for innovative startups in Africa is the implementation of solutions with distribution channels that have Pan-African reach. Bismart’s application of emerging technologies solves this problem brilliantly, while disrupting the insurance value chain from customer acquisition to risk management.”

There is a low insurance adoption rate in Sub-Saharan Africa asides from the fact that traditional payments channels are largely unreliable, there is also the fact that most persons cannot afford an insurance. The funding from GreenTec will help Bismart leverage on the blockchain technology to grant each African access to insurance.

 

 

What do you think about building Insurance on the blockchain? Share your opinion with us in the comment section below.
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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.

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Ditcion, Spreading the Gospel of Cryptocurrency

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The CEO of Ditcoin Tony Nwabishop is not taking his role with kid gloves as he is advancing the gospel of cryptocurrencies. He is taking cryptocurrency to Katstina State in the North Western part of Nigeria. On the 21st of July, Mr Tony will be speaking at an event tagged; Awareness on the Blockchain Technology, Cryptocurrency and Ditcoin.

Ditcoin which happens to be Africa’s first privacy cryptocurrency is particular about protecting the privacy of its users. Mr. Tony who became the CEO of the cryptocurrency earlier this month is optimistic and excited about the special plan the cryptocurrency has for the blockchain space. Usually cryptocurrency events are centered in Lagos, Abuja and Port Harcourt which happens to be the commerce and tourist hub of Nigeria. However this time Mr Tony is taking the gospel all the way to Katstina.

Banking the Unbanked is one of the aims of cryptocurrency and Ditcoin is aiming to achieve this goal. Ditcoin aims to provide its users with  private, secure and untraceable transactions. The event which will be taking place at the Service to Humanity Hall in Katstina state between 10am- 2pm on the 21st of July 2018 aims to teach Nigerians how to maximize their income.

Recently, the cryptocurrency was listed on WorldCoinIndex. This is Mr Tony fulfilling his promise he made when he said, “in a couple of months, we expect to see Ditcoin in coinmarketcap, Dit Refill, Ditpay, Airdrops, New exchangers and partnerships.” Ditcoin is built on the Monero blockchain which aims to improve on existing cryptocurrency design by obscuring sender, recipient and amount of every transaction made as well as making the mining process more egalitarian.

 

 

What do you think about Ditcoin? Share your opinion with us in the comment section below.
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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.

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Cryptocurrency Powered Solar Mini-Grids Set for Launch in rural Kenya

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Sun Exchange, a solar micro-leasing marketplace is in the news again and this time, the firm is partnering with Powerhive, a rural mini-grid solutions provider. The duo recently announced a new initiative, which will utilise cryptocurrency to increase global energy consumption, but they are beginning with rural Kenya. The new partnership will see Powerhive named as the exclusive recipient of the proceeds assigned to the solar project from the sales of the Sun Exchange SUNEX digital rewards token.

Abraham Cambridge, Founder & CEO, Sun Exchange explains, “The cryptocurrency community is made up of inspired individuals eager for more than just financial gain. Our partnership with Powerhive underscores the SUNEX token sale opportunity to support a crypto project geared directly towards reducing global inequality and climate impact.” He further explained,
“Together, we are working towards a world where no one is forced to cook with unsafe kerosene or wood-burning stoves, no child has to worry about how they will study after dark, and lack of energy access ceases to propel cycles of poverty.”

With more than 1 billion people lacking access to electricity across the globe, the Sun Exchange is making a difference. Sun Exchange members will subsequently be offered the sale of the solar panels that make up these projects, they will be able to own cells within the projects and earn ‘solar-powered money’ money from the electricity the projects produce. A capital of about $23 million has been proposed to accelerate Powerhive’s solar-powered mini-grid roll out. The project is funding approximately 150 new projects, which will provide power to 175,000 people who currently lack power.

Christopher Hornor, Founder and CEO of Powerhive explains, “Over the past seven years Powerhive has built a vertically integrated platform that allows us to identify, construct and operate the highest quality and lowest cost solar-powered mini-grids in Africa.” He continued saying, “At the heart of our projects are the communities we serve. By providing the power platform first and then layering in productive use programmes, we create a virtuous cycle of economic and personal empowerment that provides steady profits for both our customers and our investors. Our partnership with Sun Exchange will now give almost anyone the opportunity to invest in innovative low-carbon development projects in Africa and beyond.”

 

What do you think about the partnership? Share your opinion with us in the comment section below.
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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.

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EOS Nigeria is Now a Block Producer on the EOS Blockchain

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Barely a month after the launch of the EOS mainnet, Nigeria has become a block producer on the EOS blockchain. Since the launch of the v1.0 mainnet, developers can now actively build blockchain-based DAPPs on the platform. However Nigeria is not to be left out as the country has become a block producer after Kenya. The EOSNG project is a aimed at educating not just EOS enthusiasts but all Nigerians about the potentials of the of the EOS blockchain as well as create as creating a community where talents such as Decentralisation experts, Developers, community builders and other EOS-related talents can be sourced. On the 19th of june, 2018 by 12:16 am, EOSNG became a block producer on EOS network under the Account name eosnigeriago.

EOSNG held her first meetup in the country sometime in April and now the community is now a block producer. The community will ensure governance through a structured consensus among community members.

EOS.io is maintained by a Delegated Proof of Stake (DPoS) system. The blockchain was created by Dan Larimer the creator of Steemit and Bitshares. The DPoS system EOS operates seeks to answer some shortcomings of both the Proof of Stake consensus and Proof of Work  mechanisms. The DPoS system EOS operates allows users to vote for block producers – who are rewarded tokens for validating transactions and maintaining the blockchain. The block producers are not standalone are they are constantly evaluated by the community and will be ‘fired’ if they fail to validate transactions and create blocks.

 

 

 

What do you think about EOSNG? Share your opinion with us in the comment section below.
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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.

 

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