Dr. Chuks Ekwueme, the chairman of UNICCON Group, provided illuminating statistics to highlight the subpar inclusion and adoption of the blockchain ecosystem in Africa.
In an effort to promote the inclusion of Africans and the adoption of specialised technology in the region, the UNICCON Group of Companies yesterday launched SmartAfri Labs, its blockchain technology.
Dr. Chuks Ekwueme, the chairman of UNICCON Group, provided illuminating statistics to highlight the subpar inclusion and adoption of the blockchain ecosystem in Africa.
He asserted, “Africa’s share of the industry’s projected $1.1 trillion is less than 5%. By 2025, we hope to increase inclusion by up to 25% thanks to the technology and platforms we have developed.
For instance, our VR headsets are more reasonably priced and will allow poor Africans to use the technology. The inclusion of this.
It is incorrect to consider blockchain technology to be a form of cryptocurrency, according to Ekweme. “That idea needs to be abandoned because it is much more than that. We created this platform, a hybrid of Web 2.0 and 3.0, and we’re eager to play a significant role in the 4IR. Our NFT marketplace has a sizable market because Nigerians and other Africans in the creative and other industries can use it to make money and raise the GDP, according to Ekwueme.
The innovative product—the first blockchain technology developed in Africa—consists of SmartAfri Chain, a blockchain node; NFT Marketplace, a metaverse; SmartAfri Verse, an e-market that combines 2.0 and 3.0; and UNICCON VR (locally made and subsidised headsets).
The project aims to increase Africans’ stakes, encourage more developers to enter the market, and promote broad inclusion.
Kehinde Ake, general manager of UNICCON, said during the welcome address that SmartAfri Labs offers exceptional levels of security, openness, and effectiveness, enabling users to transfer assets, store data, and execute smart contracts in a decentralised and fraud-proof network.
He said, “We have developed this technology to enable Africans to stand tall, lift their heads, spread their shoulders, and take enormous strides in an ecosystem that was once foreign to them.
John Paul Nwobodo, the keynote speaker and an industry investment analyst with Adaverse, spoke about the enormous impact of blockchain technology across numerous industries.
As an example from the banking sector, “According to the 2021 World Bank report, 66 percent of Nigerians are not banked, and the banked are recycled by existing financial services providers. Blockchain technology can help lower the high cost of cross-border remittances, making them more affordable and overcoming geographical barriers.
Eval Esege, the company’s chief technology officer (CTO), introduced SmartAfri Labs and led the audience on a hands-on tour of the product’s many bundled advantages. “The need to develop a blockchain ecosystem that reflects African values and culture gave rise to SmartAfri Labs.
For those who share our vision, we have created a partnership opportunity that will be open as of right now. The National Information Technology and Development Agency (NITDA), the Nigerian Computing Society (NCS), Adverse, the blockchain community, and the private sector were all represented at the launch.