How Technology is Empowering Africa

How Technology is Empowering Africa

In sub-Saharan Africa, greater than half of energetic automobiles are noxious, polluting two-strokes, used mainly as taxis and by supply drivers.

They use gasoline, which is unhealthy for the atmosphere. They produce huge quantities of carbon dioxide, which is inflicting the planet to overhead. And so they emit particulates, which may harm the lungs.

An answer to those issues comes from Dutch entrepreneur Bob Ultee, who produces electrical two- and three-wheelers designed for each taxi and supply drivers in a two-pronged assault on poverty and air pollution.

And now he gone a stage additional by embracing cryptocurrency to subject an asset-backed token.

The launch of Bobcoin raised over $12m

Bobcoin (BOBC) was launched final March as an preliminary coin providing with property (ICO-WA), elevating over $12m. Every coin is absolutely secured and backed by verified property.

Now, a 12 months later, present holders of the Bobcoin can have their cash “defrosted” following a pre-sale itemizing on Dutch trade Knaken. Pre-existing house owners can have every token transformed into 10 cash, with the value additionally divided in 10.

Ultee is the founding father of Bob Eco, a for-profit firm that leases electrical bikes in Africa. Bikes make up greater than half of all automobiles in Africa – round 100m of them.

Girl paying with cryptocurrency in an store in Africa

Every travels on common 100km, and in most nations in Africa the cash spent on gas per 12 months exceeds the price of a brand new motorbike.

The corporate estimates motorbike taxi house owners spend $4.40 each day on gas and make a median each day revenue of solely $1.50.

The answer is electrical bikes supplied on a lease-to-own foundation over a most time period of 30 months. The package deal consists of coaching, life and medical insurance coverage, and high-quality security gear.

And now the administration of the logistics facet of the operation is being dedicated to blockchain, which is offering auditable information that log possession of the merchandise, chassis and motor numbers, and GPS information displaying exercise of every motorbike. 

Coin holders have a stake within the firm

Holders of cash obtain fairness within the firm entitling them to share dividend.

A spokesman for the corporate mentioned: “Bob Eco is supporting hundreds of energetic motorbike taxis, and is about to broaden its fleet to over 200,000 within the subsequent two years. The ambition is to succeed in 2m by the top of 2025.”

“Most of our shoppers are women and men of their late 20s and 30s, who work six or seven days per week. They work for a median of 14 hours per day and canopy 200 km. The revenue they generate usually helps 4.4 individuals.”

A current cope with China’s Jincheng Suzuki has elevated capability with the intention of getting 1.5m electrical variations of Suzuku’s MB100, probably the most used motorcycle in Africa, delivered by 2024.

Younger Africans transferring funds utilizing cellphones.

As Central Financial institution Digital Currencies are adopted throughout Africa, digital funds on the blockchain will turn into a reality of life. But with solely 22% of Africans having web entry, the advantages can be misplaced on hundreds of thousands.

KamPay hopes to resolve that drawback with an answer known as KamMobile, that might permit anybody with a cell phone – round 50% of the inhabitants – to make use of blockchain know-how by SMS.

Sending cellular cash utilizing blockchain will quickly be an possibility for hundreds of thousands of Africans

By way of a collection of textual content message, customers will have the ability to arrange wallets on appropriate blockchains permitting them to withdraw and deposit cellular cash, and use use peer-to-peer transactions. 

The know-how is just like the cellular cash companies utilized in Kenya, Ghana, Nigeria, and Zimbabwe, the place a digital account is linked to a subscriber’s telephone quantity.

The know-how goals to increase past conventional rural micro-lending with the hope that the decrease charges incurred on blockchains will kickstart mass adoption. 

The beta model of the cellular platform can be launched this quarter, with the primary rollout scheduled for the summer time.

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