What are we doing with Blockchain in Nigeria?

Blockchain is one of the hottest buzzwords when talking of emerging technologies. In Nigeria, the majority of blockchain experts are into crypto currency.

Besides crypto, which startups or devs are doing interesting stuff with blockchain in Nigeria?

Presumably so that Blockchain has become a buzzword in Africa especially here in Nigeria.Many are only interested in the speculation of buy and sell Cryptocurrencies for quick gain, they are good in their own rights. Kindly check also that there’re silent startups interested in building cool infrastructure on top of the Blockchain to disrupt the current swift and many payments infrastructure. One of which is KuBitX. Imagine Naira on steroids able to swap it seamlessly with a Ghanaian Cedis with no pain.
It was not possible few years ago, Blockchain makes it possible with ability to tokenize assets including fiat currency. Likes of Interswitch made it possible electronically but not able to give it a wing like we’ve done at KuBitX through the KBX wallet.

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This take on payments with blockchain is very interesting. I’d like to see how that works. But what about other sectors. I kinda feel like we are missing out big.

Fliqpay, a Techstars backed startup is building a cross border payment infrastructure for financial institutions and leveraging blockchain to reduce transaction cost by 80% and settlement time to a few seconds.
Through the APIs, banks, fintechs, Payment service companies, MMOs, MTOs and of course digital businesses can make and receive global payments between within Africa and the rest of the world.
Fliqpay has also launched a payment gateway that can help businesses receive payments using crypto and get settled instantly in 9 different African currencies.
Check out fliqpay.com to find out more.

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There are several sectors we could have the tech come into play but it almost equates to nothing if not implemented on a big duty.

The tech offers tremendous transparency, immutability and storing resistance to centralisation. Could come into play at different levels like voting but not sure INEC will ever allow it happen.

For now, the financial implementation is great. Even though there are loads of noise and buzz about it, we still haven’t scratched it yet but obviously we are on the right path. Current solutions may seem like a prototype of what we will see in the future.

Today am so glad to send and receive money anywhere from anyone without restriction. Maybe some day, we won’t need western union to send money to fellow African countries and the rest of the world. It’s happening already.