Saying that Africa is the continent with the highest need for Blockchain and its potentials might be a bit of an exaggeration, however, it would be more accurate to say that a significant part of the population of its takes it seriously. In an interview reported by Bitcoin magazine, Marius Reitz, a spokesperson from a cryptocurrency exchange and wallet provider Lunnosaid:
<em class="gv">“Our recent Future of Money report, which surveyed the opinions of consumers from across the world, including Nigeria and South Africa, suggested that consumers in developing countries are financially savvy out of necessity. According to the report, 55 percent of Nigerians (aged between 18 and 35) didn’t feel secure about their financial situation.”</em>
According to Google Trends, a good number of African countries, especially Nigeria and South Africa, have been seen taking the lead in the search for “Bitcoin.”
This sudden spike in the interest of cryptocurrencies is strongly reflected in the growing level of Blockchain/Cryptocurrency events ranging from Hackathons to crypto meetups and seminars.
Phore Blockchain has not been left out of this increasing awareness as it has recently recorded two events within the last three months, which have been aimed at taking its use cases to the real world. The first event which took place in the capital of Nigeria Abuja was held on August 27, this event mostly had cryptocurrency enthusiasts who were between newbie to intermediary level,
This lead to the need to touch all the rudimentary aspects of the blockchain technology and cryptocurrencies, participants were also taught about Staking, masternodes and other more exciting features/use cases of the Phore Blockchain such as the marketplace which aroused a lot of interest from the participants. Considering that Nigeria is a country with a lot of room for growth in the e-commerce sector, Phore’s market place holds great potential within the region. Other ways of accumulating Phore, such as trading was also introduced to the participants.
The speaker made emphasis on the importance and disruptive nature of the Blockchain technology and cryptocurrencies and how to go about converting their regular fiat into cryptocurrencies through popular fiat-to-crypto exchanges within this part of the world such as Lunno. They were shown how to purchase Phore with Bitcoins from exchangers, after which staking/masternode hosting could begin in other to earn residual income.
The second event, which was hosted by a trusted Nigerian cryptocurrency exchange platform known as Bitfxt, took place on Oct 19 was and was aimed at teaching youths between the ages of 23- 30 how to take advantage of the unique opportunities in the world of blockchain and cryptocurrencies. The event commenced at 10 am and ended at 2 pm West African Time with an attendance of over 120 persons.
The First speaker who was the host took the attendees through the basics of blockchain and cryptocurrencies, although a good number of them had already been exposed to it as they were young tech-savvy people at the conference.
Two different cryptocurrency projects were represented at the conference, namely Phore and Aternity, and the audience was eager to understand what Phore was about. The audience was exposed to the concept of Phore’s Sharding solution, and three ways to earn from Phore; owning masternodes, trading Phore, and coming on board as a merchant on the Phore marketplace (after full launch). While explaining to them what precisely the Phore marketplace platform was, it was compared to Amazon and eBay with better payment options for buyers and better listing conditions, especially for small retailers. A lot of them also indicated an interest in joining the platform as merchants when it was fully functional.
Highlights of the event included games and a Q&A session where questions were asked based on what was said during the presentation, rewards were given to participants with the correct answers.
The event ended after a trading session where attendees learnt how to make profits from cryptocurrency trading.
<strong class="gf gy">Conclusion</strong>
The attendees showed a lot of positive interest in using the platform, and I think creating an avenue for Nigerians to utilize this platform will go a long way in bringing growth to Phore and the crypto-space at large.
