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Use Cases of the Blockchain For the African Situation

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The blockchain technology seems to be gaining more popularity than cryptocurrencies because of its wide and vast use cases. In the African continent, the black nation has been plagued by many factors that has hindered its development including extreme poverty, poor infrastructure, and corruption being chief amongst them. Some African countries seem to be ready for a change and their governments have begun to make inquiries into the potential of the blockchain. Countries like Kenya have already created a blockchain and AI task force to investigate the application of the blockchain. The Nigerian Government is still investigating regulating the technology, Ethiopia is already applying the blockchain to its coffee exports and the Ugandan government has also introduced the blockchain technology to its ministry of science and technology.

The blockchain technology can tackle a lot of these developmental problems affecting the nation, we will be looking at the Uses cases of the blockchain in tackling certain issues in the African continent.

Solid Database
One of the major problems giving the african continent constant headache is data. Policies are made but with wrong data and these leads to the failure of such policies. Without accurate data, the government is limited in solving the basic problems of the people and monitoring developmental goals. The Blockchain technology could provide an effective solution to the problem of data. Healthcare, immigration, social welfare, education, and a lot of sectors need data. If data could be tied to identity this is one way of solving the problem of data. Uport an identity based blockchain project built on the Ethereum blockchain seeks to address the problem of identity. If every citizen has their information stored on the blockchain, all the government need to do is check for the total number of citizens who need a specific attention, release the budget and monitor the progress of the project. If this is applied, it would save time, money and efforts.  

Remittance

African are trooping out of the continent daily to seek greener pastures in other continents. Yearly, billions of dollars is been sent back home from Africans in diaspora in 2017, an estimate of USD 36 billion. The huge market of remittance is dominated by giants such as Western Union and MoneyGram whose charges per transaction is very expensive and as high as 10% per transaction. Cryptocurrencies are a faster, easier and cheaper means  of sending money back home. Instead of going through the stress of withdrawing money through MoneyGram you can simply convert your Crypto to fiat right in the comfort of your home with less charges using a cryptocurrency exchange platform such as Remittano.

 

More Problems More Solutions

The blockchain technology can be used to tackle the problems of supply chain in healthcare and other sectors that uses supply chain management. Such as the Ethiopian government has employed in their coffee management. Employing the blockchain in healthcare will curb corruption, ensure that the drugs get straight from manufacturer to patient without being tampered.

Election in Africa usually spell doom as opposition parties try to use thuggery to outsmart each other. But when the blockchain is employed as Agora, a Swiss based blockchain company tried to do with Sierra Leone election, there will be transparency. The results cannot be tampered since it is registered on the blockchain, there will be lesser use of paperwork which will save time and ensure efficiency.

The blockchain has already been used to verify land transactions in Kenya as Land LayBy a blockchain startup is registering land ownership on the blockchain. The land registry proof will reduce the messy fight that usually comes up over land issues.

Recently, Eat BCH a crypto charity organised a feed South Sudan charity. The country had been in distress since its civil war in 2014. This was made possible through donations made by the  BCH community. The idea is that Crowd funding for projects become easier to track and to receive.

The  blockchain is revolutionizing the way things have been done. Even a country like Venezuela is bypassing the sanctions of the U.S. by creating a cryptocurrency of its own based on the country’s natural resources. More African countries are making regulations to embrace the blockchain technology and are even employing its potentials such as South Africa who recently created a blockchain payment system with a bank based in the country. The blockchain technology posses a lot of possibilities for the African nation, our hope is that the government make suitable policies that will favour the growth of the technology in the continent.

 

 

 

 

 

 

Do you know any other use case that might help move the continent forward? 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.

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Adoption News

Highlights From BAL’s Blocktech Women Conference 2019

As it stands Lagos ranks as one of the top cities in the worlds that conduct researches on the internet on the blockchain. This is a result of some of those of these researches. #BWC2019 was a success.

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The just-concluded Blocktech Women Conference #BWClagos2019 hosted by Doris Ojuderie of Blockchain Africa Ladies was a major blast. It was one of the first blockchain conferences hosted within the Lagos blockchain community in 2019. The event sought to promote blockchain in areas of awareness among women using Education and life-changing stories of the keynote speakers.

The conference with the theme: THE LOOMING FINANCIAL REVOLUTION; AN ENGINE FOR SOCIAL TRANQUIL had speakers from The United Kingdom, United States, Canada, Abuja and was attended by participants both locally based and those who came from neighbouring cities within Nigeria from different walks of life – some of which had no prior knowledge of the Blockchain Technology.

The conference schedule featured activities from Panel sessions (Why Arent There More Women in Blockchain and What Are The Future Trends of Blockchain and Cryptocurrencies) to Training sessions( Crypto Trading Live, Programming skills and language, Entrepreneurship a Longrich Presentation). It also had a well-packaged workshop which gave participants practical knowledge to understanding blockchain and decentralization concepts.

The support from different blockchain communities for the lady-driven blocktech conference was second to none. Among many sponsors were Beepmagnet International Group – initiators of the sisiBox project, KubitX – Africa’s leading exchange built by Africans and for African, SiBAN – Nigeria’s Blockchain Stakeholders Association saddled with the task to self-regulate the industry within Nigeria, Dash Nigeria, Veritaseum Gold Platform built on the Blockchain, Nepsium – a swift crypto exchange platform and lots more.

Media practitioners were also represented in the conference, strategically to take feedback from attendees on the experience and delivery. e-blockbuzz, Zilla, Digivation, ADMP and Cryptotv Plus had more than enough content to share with their communities in the coming weeks.

As it stands Lagos ranks as one of the top cities in the worlds that conduct researches on the internet on the blockchain.

It is exciting to see women take the lead in the blockchain and if we must see blockchain penetrate the grassroots, we need more women in the space as they are the best educators, natural builders and great influencers of the future.

Find the summary of the events in Pictures as put together by Cryptotvplus.

For full event coverage of your Blockchain event, Contact us.

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Top 5 African Countries To Do Blockchain And Cryptocurrency Business

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top 5 Africa countries to do blockchain and cryptocurrency business

The Africa blockchain space is evolving fast to reach their international counterparts and this is commendable. So far, there are some Africa countries that have been steadily creating awareness of the cryptocurrency and blockchain movement in the continent. Acceptance of cryptocurrency, creating innovative hubs and business around cryptocurrency and blockchain is already been done by some of these countries.

In this article, we will be looking at some top African countries to do blockchain and cryptocurrency business

Kenya

Kenya, the silicon savannah of Africa is one of the principal pioneers of blockchain innovations in Africa and using the blockchain as a tool for solving key problems in Kenya.

The Kenya government in 2018 launched a task force community to look into cryptocurrency and blockchain and come up with a roadmap that could be adopted.

Blockchain has been used to solve major problems in Kenya. Some of which is the issue of land grabbing – Kenya came to the technological spotlight after the launch of Mpesa, a phone-based money transfer which started in 2007 launched by Safaricom – Tanzania’s and Kenya largest mobile network operators.

Although there has been a significant lack of regulatory clarity around emerging technologies in Kenya however it is one of the countries that are friendly to blockchain and cryptocurrency in Africa and currently support blockchain and cryptocurrency innovations and business.

Nigeria

Nigeria is also a very friendly African country to do blockchain and cryptocurrency related business. Nigeria houses some of the biggest blockchain companies in Africa and tech hubs in the continent such as the Blockchain tech hub, the brains behind one of the popularly known multi-wallet “Satowallet”. Another hub is the Kurecoinhub behind Kurepay wallet. Nigeria is known to be a fertile land for investment in Africa however, the federal government is not throwing much of their weight behind blockchain and cryptocurrency but the bull is being taken by the horn by some of the country’s cryptoprenuers making strides in the blockchain space.

There are quite a number of blockchain and cryptocurrency master class, blockchain conferences, meet up pouring out of Nigeria where people are educated about blockchain and cryptocurrency. Millions of dollars are made in Nigeria from cryptocurrency trading making Nigeria a good destination to start a bitcoin wallet, trading and exchange businesses.

South Africa

Corruption is fought in South Africa via the decentralized ledger technology and currently one of the first African countries to pitch a  blockchain business with a lot of blockchain companies.  Attention was given to the country when the South Africa reserve bank made decisions to start experimenting with cryptocurrency token for transactions. Some of the biggest blockchain companies are found in South Africa so when looking for the next place to start a blockchain business you should consider South Africa.

Ghana

Another Africa countries to consider to start a blockchain business is Ghana; Ghana is home to Bitland – a leading land registry platform. Ghana is making headway and she is welcoming innovators, startups to come and pitch their blockchain projects. So if you are in West Africa or outside Africa, you can look into making Ghana your destination for a blockchain business.

Uganda

Uganda is fast growing itself as a go-to blockchain destination in the continent. The country has commendably progressed in the last decade, technologically-speaking, and its push into blockchain technology is proof. Recently, Carico Café Connoisseur announced that it had started using blockchain technology in its coffee supply.

Not so far, Binance – which has been by far one of the biggest crypto company globally has set up its operations in Uganda as announced by its CEO. Also, the government of Uganda is working on introducing regulations to govern cryptocurrencies as said by Uganda’s minister of finance.

On a final note, there are other Africa countries that also utilize and embrace blockchain and cryptocurrency like Zimbabwe, Tanzania etc. So if you are looking for friendly African countries for your cryptocurrency and blockchain business, you should consider either of the above-listed countries.

Do you find this article helpful? Do let us know by using the comment section below.

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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PAXFUL IN THE NEWS FOR THE WRONG REASONS

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Paxful In The news for the Wrong Reasons

It is no news that Paxful stands as one of the renowned bitcoin trading platforms in the world. Interestingly, the company has built a global reputation in the few years of its existence having established one of its biggest markets in Africa.

 

According to Paxful Team, over 300 ways exists through which payments can be made for the purchase of bitcoins. Among the lot are through the use of:

 

  1. Gift Cards– iTunes, amazon, OneVanilla Gift Cards VISA?MasterCard,Target, GameStop, BestBuy,walMart and many more.

 

  1. Cash Deposits– Western Union, MoneyGram, Bank of America, Wells Fargo, COOP Credit Unions, TD Bank, SEPA, National Bank transfers Nigerian Banks, SEPA, Wire transfer(domestic and swift) to mention a few.

 

  1. Online Transfers– PayPal, Serve to Serve, Skrill, NetSpend, PerfectMoney, OkPay and other major online wallets

 

  1. Digital Currencies– Ethereum, Litecoin, Eos, Tether, Cardano, Monero and including many other new coins and tokens.

 

With all these services available on the paxful exchange, one would rather believe that there exist a very healthy communication flow between the company and the customers. However this doesn’t seem to be the case as many traders on the platform recently observed an unexplained denial of access to their accounts.

 

Nigeria which happens to be the company’s biggest markets in Africa and is second to the Paxful market in America, have continued to support the company via continuous use of the platform.

With these locally done transactions which have to a great extent, generated huge capitals for the company, one would think a well structured company such as Paxful would have the courtesy to put in place a stand-on live service center which would act as support center and play an active role in resolution of complaints between customers and the global business magnet.

 

Unfortunately, reports reaching us is that Paxful makes use of Bots rather than Humans in attending to support-related issues and even in dispatching mails. One would argue that the above allegation if true, might not hold water as any company – in a bit to promptly service the needs of her clients, can adopt the use of any available means to disseminate information. However, if the said purpose for the adoption of automatic mailing and communication is defeated, then there is obvious need to raise and eye brow on Paxful’s transparency.

 

Recently, a number of Paxful Users took to twitter to tell their story of how Paxful had illegally frozen their accounts and have since started a trend “PaxfulNGisAScam”

 

These negative comments began a while after the Bot support stopped responding to the numerous support tickets. Paxful’s Under-performing customer relations might have done just enough to earn it a name in the blacklists of Cryptotraders and investors.

 

It is expected that Paxful and  CEO Ray Youssef  will respond to these allegations in an official statement or maybe their bots will do just that. Let us know your experiences.

 

In the mean time we ask questions like: Is this yet another reason why we need decentralized exchanges?

 

 

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. Also, this content does not in any reasonable way, seek to promote negative news or information about Paxful Global. It is solely for informative purposes on the and should only be intrepreted as such.

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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Adoption News

How “Use-Case” Inspired Bitfxt Project Success

Initiate the project and deliberately see to its growth!
Welcome to the CEOs corner.

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Building a regulated platform in blockchain generally, would not classify as a walk in the park. It is even more demanding to take up such challenge in this part of the world where technology is obviously still far below average. To make matters worse, the competition globally- with the likes of Binance introducing their DEX, Huobi Exchange, Bittrex, Poloniex and a whole lot of VC-funded projects that make the playing ground very much uneven for local exchanges sprouting from the black continent of Africa.

#BUIDL CLUB provides an exclusive with Franklin Odoemena the CEO BITFXT, an IT firm that developed one of Africa’s leading cryptocurrency exchange platform. BITFXT portrays transparency, trust and user satisfaction.

 

In this interview,

Frank tells us about how “Use Case” helped him build BITFXT revealing secrets for pursuing a successful carrier within the most populated service area in the ecosystem.

 

In your own words, what would you say blockchain is?

Blockchain is simply an open, public, decentralized ledger for recording any kind of data and and transactions on the internet such that the records are irreversible and unchangeable.

Your Journey into the fast emerging Technology. When, how and through what means did you hear about Blockchain and Cryptocurrency?

I got interested in the technology when I first heard about bitcoin from a senior colleague in the year 2015. My first perception of it is that it is the future of money and that it has the capacity to become a global currency. I got much more interested in it when I performed my first transaction and discovered how fast and cheap it is… though my inability to purchase from coinbase and and the high exchange rate surcharge I got from a couple of other local exchanges available then made decide to provide a simpler and better solution for Africa, that was the birth of bitfxt.

In what areas of blockchain are you most passionate?

Exchange. I am passionate about providing a simpler solution for storing, buying and selling of cryptocurrencies in a seamless manner. I believe that such solution will hasten the adoption of the technology in developing countries. I have a goal of democratizing Africa financially.

 What is Bitfxt?

Bitfxt is an IT firm that deals on deployment and development of software, mobile apps and websites including crypto exchanges, wallets, payment gateways, e-commerce, RFID tracking system, etc on the blockchain. We also aim a pioneering the movement of tokenizing businesses, assets and currencies in Africa.

 What challenges or problems have you identified?

In as much as the hype is all over the place but in my own observations, not everyone truly understands the technology. 99% are in for the money and this is the reason why it will take a lot of people unaware.

When I got involved in the tech, I couldn’t find single developer in Nigeria, I couldn’t find a single trader both on the internet and offline, it was super frustrating. I had to outsource my project to a foreign country of which if we had developers, the money we spent would have gotten to the hands of a fellow Nigerian, thereby, improving on the economy.

 How will your innovation use the blockchain to solve these problems?

Though we started as an exchange where you can list, save, buy and sell cryptocurrencies but we have grown beyond that to solve other problems. Right now, Bitfxt Technology is more of a decentralized IT firm where you can find professional blockchain developers to take on any project you can imagine. So far, we have developed other solutions such as bitfxt cointracker, bitfxt exchange wallet, bxtcoin, bitfxt vault, and much more coming soon

 What milestones do you hope to accomplish in the coming years in the Blockchain Industry?

We want to be known as the largest blockchain IT firm in Africa at large. Lots of people have solutions locked up in their mind but because they dont have the funds and a professional to take on it, they die with the solutions and this is the reason why our coin BXTCOIN, is the official currency of the bitfxt ecosystem. Holders can pay at high discounts using our coin. We also hope to help tokenize Africa and stand as the largest exchange for trading African inspired tokens and coins.

How is your Project contributing to creating blockchain awareness and in turn Mass Adoption?

Our solutions are simple to understand and easy to use, and as such, anybody can easily use them. Our exchange is built with the African market in mind, users can easily connect their wallets to their local bank account in order to buy and sell cryptos and we hope to list more of African inspired projects and list them against other African currencies, I believe this will bring about mass user adoption.

Tell us about your project team?

My project team are made up of people from all works of life who has decided to make a difference in the industry. They are professionals to the core and are highly passionate about the project.

How did you come about the team?

I would say it was by the grace of God. I hand fully picked them one after the other not minding their academic background. I resonate more with passion because passion can drive a man to dare god, so I believe that getting the right people with the right attitude, willingness to learn and commensurate passion mattered more and that is what I go for.

How do you inspire them to give their best?

I try to be a true example of what I expect of them and so, they always pick a cue from my actions, resilience and passion towards the project. I also organize staff meeting once in a while where I ensure share knowledge and inspiration with them. In bitfxt tech limited, we are more of a family and it has helped us bond better.

Despite the obvious hurdles associated with building a start-up, exchanges seem to emerge on a consistent basis. Undoubtedly, most of them do not stand for progress in the ecosystem but those which truly are built with integrity are sure to survive the test of time. One would think this area was already saturated but wait till you hear the name of the next crypto exchange platform in town!

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