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How Blockchain Turns the Game in African Financial Life

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Chatex
Image by Chatex.com

Progress never stands still. People seek for simplicity and convenience, and the financial system is no exception to that. Hardly anyone could have thought that cash could ever be replaced with plastic cards. Today, it’s time for cryptocurrency to trigger the change in the paradigm.

Besides being a great instrument for investment, crypto changes the very essence of how money is transferred. Today, everyone who owns crypto can seamlessly and transparently exchange, sell off and buy up assets.

Is that not the democratic solution our world needs? That’s the question which underpins the initial purpose of Chatex project. The company has chosen the African continent as the starting point of its expansion in order to help those who suffer from excessive commission fees and lack of fiat.

Why Africa?

The banking environment is so weak here, that it’s hardly called ‘banking’. It is mired in corruption and bureaucracy, while the level of financial literacy is extremely low. It’s a common practice for local third-party services to charge sky-high commission fees on money transferring. Sometimes these figures reach 10 or even 20 percent. Chatex’s CEO, Michael Ross-Johnson, comments the following:

“How can one be treated in such a sordid way in the continent where people survive on less than the equivalent of one dollar a day? We can’t just monitor with our hands folded. We at Chatex are here to help African people become a part of the transparent and fair system that will give them an opportunity to freely manage their money and enjoy the comprehensive financial freedom”

How Chatex will make it out?

ChatexChatex offers a same-name bot based on Telegram, which could be downloaded on any kind of a smartphone supporting the messenger. It is an official, licensed and GDPR-compliant service, which offers safe data storage, BitGo instant transfers technology and additional PIN-code protection.

Thanks to Chatex, users can carry out cross border transactions, whichever their education or location is. One registered with the bot can instantly buy crypto via banking and gift cards, including even iTunes one, and transfer money to other users worldwide with no commission.

What’s the catch? There aren’t any. The verification process and money transfer won’t last more than 15 minutes here. The interface is intuitively simple and user-friendly, that’s why even a layman user will be able to operate without hindrance.

Having established an office in Ghana, Chatex plans to extricate banks and extortionate money transfer services from all over the continent. Next step would probably be Uganda, where the banking system has run rampant. In Uganda, every year relatives send home about $700 million, and almost $70 million of that total are charged by third-party service providers.

Judging upon the current trends of pervasive smartphone penetration, it can easily be said that mobile solutions such as Chatex are on their way to fit a whole set of financial operations into the user’s pocket. Africa needs such services that will ease people lives and eliminate the limits local banks and third-party services set up. Chatex avoided the well-trodden path of expansion and no one will regret. It has started a new chapter in the African market, aiming to ‘make Africa great again’.

To find out more, visit https://chatex.com/.

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

Press Releases

AI and Blockchain Technologies to Establish Innovative Smart Working Environments

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Sensitrust

Before the Covid-19 pandemic, smart working was still a niche paradigm adopted by few software startups, freelancers, and nomad workers. Despite the unfortunate consequences of Covid-19 in the worldwide economy, the mainstream adoption of smart working as a de-facto paradigm in the job market, let many professionals appreciate its benefits, such as the flexibility, as well as the reduced commute and costs, and a more balanced lifestyle.

Even after Covid-19, the revealed potential of smart working will impact many organizations, which will potentially evolve their business towards a hybrid model with a new schedule for professionals that blends physical and smart working. 

Sensitrust aims to push Smart Working to the next level by exploiting Blockchain and Artificial Intelligence technologies to create a smart working platform where customers and professionals can safely interact and make deals.

The Sensitrust platform will provide new mechanisms to facilitate smart working, and allow the development of products and services by means of the definition of a decentralized team.

Sensitrust

The platform will provide innovative safety measures and regulations based on AI and smart contracts to provide a secure and effective environment for the development of complex projects.

Sensitrust will support three main scenarios, namely the possibility to hire professionals from a catalog, the participation to an activity as a professional and the so-called “Call to action”, that is an innovative way to build a decentralized team to implement complex projects.

In all three scenarios, the AI engine will play an important role, since it will improve the efficiency, the effectiveness of the working practices, and the safety of negotiations and transactions in a decentralized environment.

Sensitrust 2

In particular, the AI engine, in addition to the customer and a set of external reviewers, will provide feedback on the quality of the work performed by professionals. After the work is approved, the professional will receive the agreed compensation.

While seeking for job opportunities, the AI engine will suggest the available activities, according to the verified skills of each professional. This “guided” approach aims at improving the success rate since it provides professionals with activities that better match with their true expertise.

Moreover, in the Call to Action, the AI engine will provide significant help in the customization of project campaigns to stimulate the active participation of in-platform professionals interested in the design and development of a product or service.

Finally, all the activities performed in the platform will be regulated by Smart Contracts: agreements, quality and temporal constraints, checkpoints and multiple revisions will be governed, in a decentralized, immutable, and certified manner.

SETS Token

SETS is the Sensitrust token that will be seamlessly integrated into the platform and allow users to access the platform services at a discounted price, such as:

  • Access to more qualified professionals (as a customer)
  • Access to more job opportunities (as professional)
  • Advertising opportunities
  • Advanced platform consultant, based on both AI and human experts
  • Stronger guarantees on products and services
  • Access to in-platform training material
  • Membership Subscriptions (all-inclusive packages)

Once the platform is launched, the token value considered to buy in-platform services will be the market price. For this reason, purchasing tokens during the token sale gives the unique opportunity to benefit from a value appreciation right after the token sale. Moreover, participants to the token sale will benefit from the exclusive advantages, including the early access to the platform functionalities and the free access to premium features during the initial stages of the platform launch.

SETS Tokens can be currently purchased through the official platform website: https://www.sensitrust.io at an exclusive price of 0.08€ /SETS, through Ethereum, Bitcoin, Litecoin, Tron, USDT (ERC20) and Bank transfer. Do not miss this opportunity!

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to any company, product or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release. 

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Press Releases

BLOCKDeFi Virtual Conference & Exhibition 2020 Is Live on September 12-13

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BLOCKDeFi

Dr. Obiageli Ezekwesili, Senior Economic Advisor, Africa Economic Development Policy Initiative (AEDPI), is to keynote the upcoming BLOCKDeFi2020 Virtual Blockchain Conference scheduled to hold from the 12–13 September 2020 on the 2D Airmeet platform.

Dr. Ezekwesili was Vice-President of the World Bank’s Africa division and is former Nigerian Minister of Education, Minister of Solid Minerals, and a Presidential candidate in Nigeria’s last general elections. She has been a strong advocate of due process, transparency, and accountability in governance, of which she sees blockchain technology as a necessary tool for Africa’s economic transformation.

Opening time: 10:00 AM WAT

BLOCKDeFiThe conference – organised by Blockchain Nigeria User Group – is designed to bring attendees the best industry experts and thought leaders, insightful discussions with unique networking opportunities in a virtual world. Recall that #LagosBlock-DeFi:2020 previously scheduled to hold physically last May was postponed due to COVID-19 restriction guidelines. #BlockDeFi-2020 will now hold as a global technology event on a 2D interactive virtual environment.

The conference agenda is “Unpacking Blockchain and the potentials of alternative, open trustless finance in building the foundations of financial self-sovereignty in Africa!”

Conference tracks will focus on blockchain protocols making significant impacts, layer 2 technologies of Bitcoin — Lightning Network, Ethereum layer 2 scaling solutions, distributed filesystem, and other decentralised web technologies.

“We believe that Africa needs blockchain technology, more that blockchain needs Africa! “-Chimezie Chuta, Founder/ Coordinator Blockchain Nigeria User Group.

Also confirmed are, Elizabeth Stark, CEO and Olaoluwa Osuntokun, CTO both Chief Executives at Lightning Labs, Christian Roesch, Head Africa Operations, at Kinesis Money, Ali Hussein Kassim, Co-Founder & CEO at Kipochi, Nairobi Kenya, Emomotimi Agama, Deputy Director and Head Registration, Exchanges, Market Infrastructures and Innovation Department at SEC Nigeria, Carmelle Cadet, founder & CEO, EMTECH, and several others as speakers and keynotes for the conference.

Paxful.com is the main event Sponsor, with premium support from Binance.com, Tezos Foundation, Kinesis.money, Conflux Network, and FTX.com.

This is the 9th edition of the national blockchain conference series that has been held across Lagos, Abuja, and Port Harcourt since 2017 by Blockchain Nigeria User Group!

It will be a two-day event content-packed event covering; Keynotes, Presentations, Panel discussion segments, Networking, and product Exhibitions.

The conference is free, but registration is required via https://www.airmeet.com/e/9c836320-e93b-11ea-8616-b3016fb86143

Conference Tracks include:

The Good, the Bad, and the Ugly sides of DeFi, Inside the Crypto-Traders Locker-room!, Shielding yourself from CryptoScams and fake DeFi products, The Rise Of CBDCs and its impact on the emerging decentralised future, etc.

Who Should Attend?

Everyone!

The event is expected to connect entrepreneurs, developers, liquidity providers, finance advisors, Bankers, different blockchain node operators, academics, investors, economists, regulators, and others who are looking to learn and network in the blockchain & decentralised finance industry and explore the current opportunities and challenges in the space.

More information about the event and the organisers can be seen on https://blockchainnigeria.group/.

About BNUG

Blockchain Nigeria Group

BLOCKCHAIN NIGERIA USER GROUP is a vibrant group of Blockchain and Cryptocurrency developers, enthusiasts, and investors helping to drive adoption and awareness of the Blockchain industry in Nigeria and across Africa. The objective of Blockchain Nigeria User Group (BNUG) is simply to create a pro-innovation environment for the industry, meeting the growing global demand for accessible, transparent, and democratic financial and technical systems. Blockchain Nigeria User Group is a sub-set of Organisation of Blockchain Technology Users (OBTU) a duly incorporated Trust with CAC, and an association upholding Self-Regulatory Organisation (SRO) status for the Blockchain Industry in Nigeria and across Africa.

Join the group on Facebook.

Join the group on Telegram.

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this press release. 

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Press Releases

Scalable Proof of Stake Coin PIVX Now Available for Staking on HolyTransaction Exchange

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HolyTransaction Exchange

Proof-of-Stake (PoS) concept is taking off in recent times as crypto projects are looking to cut down on the issues related to the traditional Proof-of-Work (PoW) approach used by Bitcoin and other major cryptocurrencies. Ever since Ethereum announced to move to the POS approach, there is increased interest around the sector as a valid alternative. This is fundamentally a paradigm shift happening in the industry and new players are eager to start with PoS from the start rather than starting with PoW and having to migrate to the former in the future.

Introducing PIVX on HolyTransaction Exchange

best PIVX wallets

Private Instant Verified Transaction (PIVX) is a cryptocurrency protocol with a native coin of the same name. The cryptocurrency can now be owned and staked on HolyTransaction, a popular cryptocurrency exchange with a strong resolve to provide the complete blockchain experience and capabilities to each user.

Normally, cryptocurrency exchanges have complete control over the funds of users and thus, they don’t have the flexibility to offer services like staking for more returns. Staking is basically a feature of the PoS mining approach in which users lock their funds for a limited time and then earn rewards on them like one does as interest on a bank account. This feature has been missing in the cryptocurrency industry for a while and a person’s total wealth doesn’t increase with time and rather remains stagnant.

PoW vs PoS

PoW uses a different approach in which energy-intensive computing machinery is used and participants are rewarded based on the sheer power of their dedicated resources. Many people believe this is unfair as new miners have to constantly dump new coins to remain afloat.

In PoS, on the other hand, a fixed amount is locked into place like a fixed deposit account and one earns mining dividends on it. This automatically creates a choked supply of the cryptocurrency for the investors and encourages users to lock more and more coins in place and earn staking rewards. This is one of the reasons why many smaller projects are looking to either migrate to PoS mining or start with it from the very beginning. It is less energy-intensive and arguably fairer than the PoW approach.

HolyTransaction’s Staking Services

HolyTransaction wallet is now offering various PoS coins on its official exchange platform. While coin exchangeability is often offered readily by exchanges, they don’t offer the full experience because of their limited functionalities.

With HolyTransaction, one can not only own these new up-and-coming cryptocurrencies they can also have complete access to them in addition to having access to staking features.

PIVX Features

PIVX, exclusively available on HolyTransaction has the following key features:

  1. Privacy Protocol to help make anonymous transactions.
  2. Fast network and transaction times.
  3. Low Fees
  4. Energy efficiency due to the use of the PoS system
  5. Community-based development and future roadmap-based approach.

The current market capitalisation of PIVX is around $30 million with a price of $0.5. The total number of coins in circulation is 56,781,166.

Visit the official HolyTransaction exchange to buy/trade/swap and stake cryptocurrencies.

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to any company, product or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release. 

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