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Blockchain Technology

Your Business; A Childchain On A Secured And Scalable Blockchain Platform (Part 1)

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Many have asked the question of how they can join, link their businesses with the prevailing blockchain technology, and benefit from it. They want to know how their businesses can thrive with the DLT that’s so hyped locally and internationally. These questions are now even more relevant than ever with the current situations that affected the world globally. It raises exponentially the need to direct all businesses and corporate existence to online services.

There are a couple of misconceptions that need to be overruled when the adoption of the technology is considered. First, the idea that all blockchain platforms are great, you may want to look beyond the great marketing if you are ready to put your business on the platform. There are only a few that are worthy of consideration at the moment. Also, no such thing as a fully complete system, but there are few great plugs and play blockchain platforms. Also, no blockchain platform is a magical platform that will make you rich overnight. It all still boils down to solutions you deploy and if they are worth anyone’s attention and patronage.

It boils down to the edge, your business can have over others by;

  1. Making it easy for online customers to patronize in a secured environment.
  2. Easing the traceability of goods and origin, including the involved financial transactions for all.
  3. Ease of loyalty points issuance with unbeatable transparency.
  4. Cheap/free transaction fees with lesser middlemen in the transaction processes.
  5. Unmonopolized and undiscriminating platform that promotes your products the same as others.

Majority of the confusion comes in two forms for a public blockchain solution, first is developing the solution and the second has to do with the node networks for those fully enlightened about what they are doing. With the right solution or platform, these major concerns become a thing of the past. With a childchain solution adoption, these two are solved outrightly at least on Ardor platform-specific childchains. With this, your nodes are running even prior to the deployment of your solution based on the existing Ardor hundreds of blockchain nodes across the globe. Another interesting opportunity that comes with the solution is the customisable menu of interesting applications and usable solutions to aid your company’s online activities and customer satisfaction. We will consider a couple of industries starting with the Fintech and jointly see how they can benefit from the technology considering the prevailing crisis and dire need for supporting technology.

Fintech industry solution:

The Fintech space today arguably strives to replace the old banking systems but not the bank itself. One major flaw the banks possess today is heavily relying on paper transactions which often require physical contacts. What are the basic banking activities we have today and the parts most Fintech are competing to do better? The functions can be classified basically into two, Primary which include Accepting deposits, Granting advances and Secondary which include both Agency functions and Utility functions. But to every man or customer of a bank, they are an entity that keeps funds safe and provide option to withdraw the exact or advances in loans all with an attached varying fee.

It is a known attribute of all banks to utilize customer’s funds in business activities necessary to run and sustain the bank but most becomes faulted due to excessive bad loans both to normal customers and insiders, inappropriate risk management decisions, unsupportive regulatory issues among others. These demerits that applies to the rigid walls within which banks operates mostly do not apply in the tech space where companies offer similar financial services but only online. The advantage of taking the finance and banking space out of the confinement to strictly online business remains the major upgrade they offer ahead of the traditional banks. They provided an edge against all obstacles placed by both distance and time and provide ease of banking and accessibility to funds. Nevertheless, more can still be done.

With the blockchain technology as an extensive fintech enhancement, banks are not eliminated in the whole financial processes, but interactions with them can be reduced to almost nothing through the use of geographically unrestricted cryptocurrencies accepted everywhere to transact in seconds. This means, no POS transactions issues, no bank transfer issues, no ATM issues, No inter-bank transfer delay problems. Just a fast business transaction where every involved party smiles away. It provides the required transparency and trust, to truly put customer’s funds in his/her total control and only provide an avenue that allows ease of spending, saving and proper utilization of their financial power.

The blockchain technology isn’t plagued with the single point of attack and failure as exhibited among all other known platforms today. It utilizes a distributed immutable ledger that writing and recording is only done by consensus of all connected nodes which in this case can be all customers who witness the transactions from the genesis and can validate or testify to the authenticity of all subsequent transactions. This reduces the time to verify in a business environment, mitigates the lack of trust among partners and of course, provides several layers of security of platform, privacy of personal information and immutability of trusted recorded data against external attacks.

Today with an additional layer of blockchain technology, Fintech industries can utilize the lightweight smart contract, oracle contract among others to provide self-executable actions and automate some recurring and even basic decision makings adequately with no human biases. They can automate giving of loyalty points, approval of loans, automate withdrawals with in-built smart contracts programmable by the user to stop some certain transactions. Trace all transactions within the network to curb some heinous acts and finally provide an environment where customers can completely trust that nothing hidden is happening to their funds outside the agreed activities. Provide all these and many more without having to worry about coordinated broad attacks, failed transactions and platform breakdowns.

As a fintech startup or platform, have you considered the possibility of having a fully functional decentralized platform, marketplace, insurance, loan services among others? With several advantages attached to these not limited to reduced hands of deck, increased revenue and yet cheaper services and more satisfied customers. These decentralized platforms will soon replace what we have and win with the single preamble. “Decentralized” fintech.  Becoming a childchain is the best option out there at the moment on the multichain platform capable of launching your company as easy as any unique turnkey solution. Consider checking the Ardor blockchain platform by Jelurida Swiss SA and endeavor to have your Developers and other members of the team compare to other platforms before making your final choice.

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Africa Blockchain Institute

Africa Blockchain Institute Organized The First African Blockchain Summer Bootcamp For Teenagers In Ghana

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In the spirit of catching them young, the Africa Blockchain Institute organized the first-ever Blockchain Summer Bootcamp for teenagers (age range 13 to 19 years old). A successful Bootcamp, according to the participants’ testimonials and stakeholders, held at the OpenLabs, Ring Road, Accra Ghana, between Monday 2nd August, and Friday 6th August 2021. 

The teenagers applied from across Africa, and selected participants all converged at the OpenLabs, Ghana, for an intensive five days of learning, interacting, and implementing personal  Blockchain projects. The participants were divided into three significant tracks, thus; Blockchain Development, Blockchain for Creatives and Blockchain Entrepreneurship. 

Blockchain Summer Bootcamp for Teens by ABI
Blockchain Summer Bootcamp for Teens by Africa Blockchain Institute

Across these three tracks, the teenagers learnt introductory units to Blockchain Development for societal challenges, Blockchain evangelism, Non-Fungible Tokens, and how Cryptocurrency works. Another highlight of the program was the excursion to the Accra Digital Centre, where the Boot Campers were introduced to the tech ecosystem and feel of the Ghana Tech Lab and Accra Innovation Hub spaces. A visit was also made to the Museum of Science and Technology, and the teenagers got to understand the history of technology in Ghana. 

Worthy of mention was the panel session aimed at motivating the students to pursue a career in technology. While making his comments during the panel session, the founder of BankLess Africa, Mr. Muntala Mohammed Shaibu, urged the teenagers to stop seeing themselves as too young to experiment with new technologies. In her remarks, Ms. Elohor Thomas, CEO & Co-Founder of CodeLn, urged the teenagers to continue to explore their interest in technology and blockchain early.

Blockchain Summer Bootcamp for Teens by ABI
Panel Session, Blockchain Summer Bootcamp for Teens by ABI

The Bootcamp ended with personal project presentations from the Blockchain Development and the Blockchain for Creatives & Entrepreneurship tracks. Projects such as NFT blogposts, Blockchain product reviews and Blockchain for transport and logistics were presented. The best presentation won the OpenLabs scholarship for Robotics Course. Thanks to Dr Sujith Jayaprakash, the Director of OpenLabs, Ghana, for the offer of scholarship. In his closing remark, the Executive Director of the Africa Blockchain Institute, Mr. Kayode Babarinde, urged the teenagers to continue using the  skills and knowledge gained during Bootcamp to explore Blockchain-related solutions further. We also appreciate Mr. Ganzaro Omar, Chairman, AfroBlocks, for his supports, and fostering collaborations with the Ghanian Blockchain community.

The Africa Blockchain Institute will continue to hold future Blockchain Summer Bootcamp series in various African cities to drive Blockchain knowledge into innovators early enough. 

Oluwaseun David ADEPOJU

Head of Research,

Africa Blockchain Institute. 

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Blockchain Technology

Africa Blockchain Hackathon 2021 Edition Begins Registration 

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Africa Blockchain Hackathon
Image Credit: Africa Blockchain Institute (ABI)

The 2021 edition of the Africa Blockchain Hackathon, a brainchild of the Africa Blockchain Institute (ABI) is ready for take-off. The initiative was created to allow young professionals, tech enthusiasts, students and policymakers amongst others to gain exposure to the opportunity of Blockchain/DLT Digital Innovations through mentorship, career and business opportunities. The Hackathon Program is a product of the partnership with FreeTON Africa (Sub Governance). The Hackathon provides a controlled, structural and sustainable mentorship model as well as a community to nurture and empower developers with potential towards building DLT and blockchain solutions. Registration for the Hackathon is already underway and the deadline is fixated on August 25, 2021. 

The contest is done in collaboration with FREE TON, an Open Source (OS)  community project created by developers of the Telegram Open Network (TON). TON OS  has more features than the Ethereum Virtual Machine and is designed as a decentralized operating system capable of handling decentralized applications. TON OS also has a stack of components that can be used by developers to create powerful applications. By making these components Open Source, anyone or everyone can view and copy fragments of the code.

The contest is open to all Africa Blockchain enthusiasts, newbies, artists, developers, policymakers and students. There is a prize of over 62,000 TONs up for grabs for the winner. The contest is open to the 54 countries in Africa for participants to build Blockchain Applications on Free TON. The aim is to add value to the FreeTON Network and the continent will equally benefit from the applications.  

According to John Kanyiri, FreeTON Africa Representative and the FreeTON Africa Team, “… we once again look forward to identifying projects culminating from this hackathon as being not only a showcase of what Africa can offer the global blockchain space but also solutions to the continent’s challenges. The creativity, ambition and sophistication of our localized developers are quite evident in the Hackathons and this time around we hope to see the same. Discovery of new talent and exposure of the same from very remote locations of Africa was witnessed in the last Hackathon and we look forward to the same this time too.”

The Hackathon is open to covering aspects of the blockchain that academia needs to know giving ample information about how the blockchain works and the current and future applications needed to change the world from the blockchain Point of View. The contest is open to both newbies and experienced developers as some of the best technical experts in the blockchain community will be there to aid you. In other words, the event is open to all who seek blockchain knowledge. 

The contest will be carried out in three sections: country competition, regional competition, and continental competition. The country and regional competitions will be held virtually however, winners of the regional competitions will get an all-expense-paid trip to South Africa for the Finals. The winners will attend the Grand Finale which will be hosted in South Africa. Participants are allowed to work on topics or applications that are peculiar to the needs of the African continent. However, some applications may include: 

  • National voting platforms
  • Fintech infrastructure/Digital Wallets (to help those who do not have access to banking)
  • Land ownership and registry
  • High tech job creation
  • Human rights protections

There are lots of prizes to be won including an all-expense paid trip to South Africa for the winners of the regionals. Other prizes includes:

1st Prize: 25,000 TONs

2nd Prize: 15,000 TONs

3rd Prize: 5,000 TONs

4th – 20th Prize: 1,000 TONs

Participants will have to follow a simple process leading up to winning amazing prizes. The first step is to submit applications for the hackathon, meet all the requirements and pitch ideas. Next, participants have to receive Acceptance Confirmation Notification/Onboarding, form a team and then join the opening session. The last part of the process involves building the application and collaborating with team members. 

Notable Dates 

Applications open July 2021.

Application Deadline: August 25th, 2021.

Hackathon Dates:  September 6th – 24th 2021. 

Begin your application here:  https://bit.ly/africablockhack 

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Blockchain Technology

Jelurida Africa Launches Blockchain-backed Certificate Platform, Digicert

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As one of its action plans for accelerating blockchain adoption on the African continent, Jelurida Africa has launched a blockchain-backed certificate-issuing platform called MyDigiCert. The platform allows issuers to store certificates on the blockchain, and equally give requisite access to intended recipients of the certificate(s).

MyDigiCert equally provides an option for certificates to be verified on the blockchain through the use of a unique hash which would be allotted to each certificate that is duly issued by the platform. According to the Managing Director of Jelurida Africa, Adedayo Adedajo, MyDigiCert was primarily created in a bid to curb the widespread certificate fraud in African institutions and universities. With blockchain-backed certificates, the risk of forging would be little to none, as one of the most prominent features of blockchain technology is its immutability.

To upload or create blockchain-backed certificates through the platform, users can sign up with telephone numbers across several African countries, and subsequently verify issued certificates from anywhere in the world. Asides creating certificates, recipients of such certificates may equally apply to receive them, provided that such recipients possess the unique hash code which is allotted to each certificate at the point of issuance.

Due to the fact that MyDigiCert operates an immutable system for creating, issuing, receiving an verifying certificates, issues such as certificate loss, certificate fraud or unnecessary delays in certificate issuance which often embattle the African educational system can be adequately curbed. Similarly, the product’s payment plans are specially tailored according to individual needs. As such, every person would be able to find a reasonably affordable payment plan to suit his or her needs. Payments can be made through a debit card or bank transfer, all powered by Paystack. The product is offered as a subscription-based SaaS platform, and there are equally provisions for institutions that may be seeking to fully run to product through their own servers.

An in-house testing was conducted on MyDigiCert on the 6th of May, 2021. The official date for the launch of the product has been slated for June 13, 2021. In commemoration of the official launch, a blockchain workshop will be conducted for African universities.

MyDigiCert is one of the several products which Jelurida Africa is set to launch this year. In addition to its pipeline of prospective blockchain products, the company is set to launch the first Europe-Africa blockchain bootcamp for European and African developers and policy makers across both continents. For partnerships on any of Jelurida’s products or the upcoming blockchain program, you may send a mail to info@jelafrica.com

Jelurida Africa
Image Credit: Jelurida Africa / CoinPost

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