Uniccon launches the first blockchain technology to drive Africa’s inclusion
LR Chris Ebosie, Group General Manager, UNICCON Group; David Sado, HR, UNICCON Group; Blessing Daniel, representative of NITDA; Chuks Ekwueme, Chairman, UNICCON Group; Hauwa Yahaya (Representative of Nigeria Computer Society); Tolulope Bankole (M&E Manger, UNICCON Group), Johnpaul Nwobodo (Investment Analyst, Adaverse); Ronald Ajiboye (drones, strategy and PR consultant), and Kehinde Ake (managing director, UNICCON Group).
By Jessica Dogo
UNICCON Group of Companies has launched its first blockchain technology ‘SmartAfri Labs’, to drive the inclusion of Africans and adopt a specialized technology in the region.
The launch was held at Uniccon’s headquarters on Friday in Abuja.
The News Agency of Nigeria (NAN) reports that SmartAfri Labs is the brainchild of the Uniccon Group of Companies; founded in 2018 and developed under the STEM arm of the organization.
During the launch, UNICCON Group Chairman Dr Chuks Ekwueme shared insightful statistics to illustrate the poor inclusion and adoption of the blockchain ecosystem in Africa.
According to him, Africa has less than a 5 percent stake in the estimated $1.1 trillion law industry.
Ekwueme said: “We have created technology and platforms to drive inclusion by up to 25 percent by the year 2025.
“For example, our Virtual Reality (VR) headsets are more affordable and will not exclude poor Africans from using the technology. This is inclusion.”
Ekwueme said that blockchain should not be seen as crypto, adding that the idea should be discarded.
“It is wrong to view blockchain technology as crypto. It is much more than that and that thought should be abandoned.
“We have built this platform, which is a fusion of Web 2.0 and 3.0, and we are committed to being key participants in the fourth industrial revolution (4G).
“There is a huge market in our Non-Fungible Token (NFT) marketplace as Nigerians and Africans from creative and other industries can tap into it to generate wealth and increase GDP,” he said.
Managing Director of Uniccon, Mr Kehinde Ake, said SmartAfri Labs offers exceptional levels of security, transparency and efficiency.
Ake said the blockchain would give users the ability to transfer assets, store data and execute smart contracts in a decentralized and fraud-proof network.
“We created this technology to allow Africans to stand tall, raise their heads, spread their shoulders and take giant steps in an ecosystem that was once alien to them,” he said.
Mr John Nwobodo, an industry investment analyst spoke about the monumental impact of blockchain technology in a number of industries.
Nwobodo quoted the 2021 World Bank report which said: “66 percent of Nigerians are unbanked and those banks are being recycled by existing financial service providers.
“The costs of cross-border money transfers are very high, and the use of blockchain can help reduce these numbers, make cross-border money transfers cheaper and defy geographical barriers.”
The company’s technology manager, Eval Esege, in his presentation ‘SmartAfri Labs’ took the audience on an experiential journey about what it does, how it works, and its many bundles that benefit users.
“SmartAfri Labs was borne out of the need to create a blockchain ecosystem that represents African values and culture.
“We have set up a partnership opportunity available starting today to allow those who resonate with our vision to join us on this journey,” he said.
The launch had representatives from the National Information Technology and Development Agency (NITDA), the Nigerian Computing Society (NCS), the blockchain community and the private sector in attendance.
NAN also reports that the new product, which is the first African blockchain technology, consists of SmartAfri Chain (blockchain node), NFT Marketplace (Create and sell NFTs), SmartAfri Verse (Metaverse),
Others are: SmartAfri eMarket (merger of 2.0 and 3.0) and UNICCON VR (locally produced and subsidized headsets).
The project seeks to increase efforts for Africans, encourage more developers to enter the niche and generally drive massive inclusion. (NAN) (www.nannews.ng)
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Edited by Bashir Rabe Mani
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