BLOCKCHAIN AND CRYPTOCURRENCY: THE WAY

#AfricaOfMyDreams

Quite a lot of people around the globe are still yet to grasp the kind of disruption that is hitting the world with the advent of blockchain technology. Sad it may seem, but I'm sorry to notify us that this technology will displace many people out of jobs and also place many into jobs.

Many African countries still do not know that there is such a thing called the Bitcoin, not to talk of even having the minutest idea of the broader scope of cryptocurrency or blockchain technology.

The blockchain itself is an automated digital ledger in which transactions are documented. Don't forget that the technology that drives the blockchain is coordinated by a set of mathematical algorithms and encryption techniques associated with cryptography.

Alright, let me take you a bit further to mention about Smart Contracts : which are a set of self-executing contracts pre-programmed on a blockchain.

Now, how would this "simple technology" cause many people to lose their job? Imagine walking into a filling station with no pump attendant, you simply grab the dispensing nozzle and fill your tank. Your charges are instantly calculated, you make payment from your blockchain wallet, the transaction is detailed on the blockchain upon which the account of the filling station runs, then your receipt also gets printed automatically, then you zoom off with your full tank - all of this without a single human attending to you. This happens in most of the European countries and I dreamt of such in Africa soon.

Remember, all these are made possible by Smart Contracts. The programmers of the blockchain must have given specific instruction to cause the blockchain system to work in an automated manner.

The blockchain system is a wallet to wallet transaction system, in which all third parties are phased out of any transaction. The major third party here are the banks.

What that implies is that all it will cost me to send $200000 to a friend in New York is just to have him send me his wallet address (which our banks call account number), I simply enter the wallet address into its right place in my own wallet, then enter the amount of "coin assets" equivalent to $200000 and he gets to receive it at the other end almost instantly!

You'll see now that the conventional system of moving bulk cash into banks, which the cashiers will first count for hours, then pack and repack, after which they document and then transfer through Western Union, Money Gram and all is already phasing out.

In addition, digital assets is known in many quarters as e-currency or cryptocurrency, and it is the 21st currency shift that is presently sweeping across nations which I believe Africa should also drink from its cup.

Cryptocurrency is used for digital assets in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independent of a central bank.
Hence, it means that cryptocurrency serves two purposes:
1. Legal tender
2. Asset storage

Nations all over the world are already transacting with bitcoin, the billion coin and many others. At the moment we have about 728 different cryptocurrencies listed on the coin capital market and what is so amazing is the fact that digital assets appreciate at astronomic rates and this is a good option for such investment in Africa.

Although there are particular cryptocurrencies, such as the bitcoin, that are very volatile: a good investment management precautionary measure applied on them can make them extremely viable spots to put one's money today.

For instance, a bitcoin valued at $0.10 as at 2009 (less than N15) is today valued at about $2300 (approx. N850,000), that is amazing if you ask me! Imagine a person who bought say, 1000 bitcoins for N15000 now worth N850million naira in the space of 8 years! Now, that is how digital asset investment operates.

Beyond the astronomic increase in value however, cryptocurrency is the money of the now and of the future for Africa.

Currency has gone digital and it doesn't take rocket science to understand this! As a matter of fact, in a space of few months from now, when cryptocurrency would have pervaded every aspect of the world's transactional exchange, many of us will get to understand that an expiry date has long been placed on fiat money.

There is yet a digital asset that is of great peculiarity to me - The Billion Coin!

What Makes The Billion Coin So Unique?

1. TBC is the very first cryptocurrency with a sincere and selfless mission to end poverty globally by 2018.

2. It is the only currency that is not in competition with any other currency globally. It is in a class of its own!

3. Its increasing value on a daily basis is not market-driven, the software that drives the TBC daily growth in value is programmed to push its value up by 1%-5% as new members join the community from any part of the world. That is outstanding!

4. TBC is the ONLY currency that only appreciates and NEVER depreciates! It's value will NEVER drop, not even when dollar loses value because its growth is not dependent on any of these other currencies.

5. The ultimate price of one TBC is coming to €1b, no currency has ever achieved that! Hence, even if it means having just 1TBC, just keep it well.

Also, because TBC grows consistently at 3%-5% on a daily basis, it implies that it has up to 150% investment growth in a month. Hence, an investment as low as N100,000 in TBC will appreciate to over 250, 000 in a month and as much as 1million naira in less than 4months!

Ways to take advantage of Digital Assets Investment in Africa for our growth:

1. Create a business out of it using market price speculation: such that you store up when it is cheap and sell when the price rises.
2. Very useful for global purchases in our export and import products.
3. Invest for the future to enhance the development of African countries.

Conclusively, In Africa today, we cannot but assiduously engage in Blockchain and Cryptocurrency ecosystem as it will bring to life the dearth of unemployment among the youths and also boost our economy in various aspects regardless of ethnicity, language, and differences in cultural diversity.

It will help to make Africa a better continent to behold and enhance transformational change in other economic sectors such as agriculture, entrepreneurship, health, investments, technology and also create smart cities and urban development.

If we detest the benefits of blockchain and cryptocurrency in Africa, we will be like someone using an analog phone in the smart phone age.

I dream of a better Africa that channels her strength towards the maximization of these digital assets.

© HOTONU Olasunkanmi.

Lagos, Nigeria.

Email: addictolas@gmail.com