US-based Blockchain Strategist developed OduwaCoin to integrate Africa into the global digital economy

Most African sovereign currencies limit access to global trade and fair remittances. Cross-border payment settlement on the continent has been unfathomable due to many non-fungible currencies in the 54 sovereign states. Also, you can bring euros or dollars into Africa and spend, but you cannot take African currencies out of the continent. When you leave Africa, your money dies with you.

Bitcoin was developed as a Fintech solution to eliminate human intervention due to currency manipulation. Bitcoin has been very successful as a payment settlement solution, but in the case of Africa, it is very costly for transactions and not environmentally friendly for minting.

This is why Mr. Enabulele, CEO of Oduwa Blockchain Solutions, was inspired to develop a fintech solution that will solve Africa’s cross-border payment settlement problems without as much fees as Bitcoin.

OduwaCoin is a genuinely decentralized cryptocurrency software released under the MIT license. Africans can use Oduwacoin as a payment solution, store of value and ownership on the blockchain. Oduwacoin is money. Own it and use it.

It is the cryptocurrency that will integrate Africa into the global digital economy on the blockchain.

The future of transactions is digital. How Can Africa Survive Without an African Blockchain Cryptocurrency?

Many other cryptocurrencies have joined the market in the last five years as a result of the increased popularity of Bitcoin from its early days and the rapid uptake of digital tokens. Global citizens agree that digital currencies – from Ethereum to Dogecoin – are the way of the future and that decentralized finance is the new economic reality.

Mr. Enabulele launched OduwaCoin on his own blockchain after seeing this opportunity to make a difference in Africa, giving natives a new democratic and open system of money or trade. Since its creation, OduwaCoin has grown in popularity with a limited supply of 21 million coins. Due to the limited supply, this digital currency is likely to maintain and grow in value over time, allowing investors and early adopters to make money.

Although OduwaCoin is still young, there is already a strong demand for the platform. The framework also gives users the ability to store and exchange OduwaCoins with other exchanges. Those who wish to experience transactions with a digital currency for the first time can do so on the blockchain network without fees. The platform is unique in that it allows users to freely trade and exchange their tokens. Money should be free to send and receive on the blockchain, according to Bright.

The demand for an African-wide cryptocurrency

A pan-African currency that crosses national borders and is usable by everyone within the continent’s 54 nations is necessary in light of the growing popularity of cryptocurrencies. This is one of the key outcomes of the 2022 US-Africa Summit held in Washington DC. The advantage of introducing such a digital currency is many.

The economy of each country can be better integrated and strengthened if there is less opposition to trade between African nations. A single electronic currency will also maximize the chances of efficient international trade and increase financial inclusion for people who have limited access to traditional banking. As a result of the project’s early success, online retailers such as DollarStore in the US have begun to accept Oduwacoin, a brand new cryptocurrency designed specifically for use by African consumers. Although it is still too early to say how effective this ambitious plan will prove to be in the end, it is certain that it will revolutionize the lives of many people across Africa and provide them with more convenience for payment settlement.

Unchanged Transactions

OduwaCoin has a network of node operators that support its continued operation through its digital platform, which ensures data transparency and makes it accessible from anywhere in the world. Coupled with solid infrastructure and extremely secure blockchain technology, this strategy has grown in popularity.

The technology for buying and selling digital currencies has developed significantly in 2021 due to the increased use of decentralized finance alone. There is a growing trend towards online shopping and buying digitally, with 140 million people owning digital wallets with various cryptocurrencies. Our paradigm has changed. It is now more obvious as large companies and organizations are competing to offer payment options for users of digital currencies as the market experiences a longer period of expansion.

The revelation

When it comes to remittances and cross-border payments, Africa has long been a disadvantage in the global financial system. However, with bitcoin, people will soon be able to establish new wealth opportunities and global economies of scale. Through bitcoin crowdfunding, new initiatives could be started with the help of like-minded people. Oduwacoin offers the same opportunity for Africans only without fees, as long as you move your currency on the blockchain.

People who have joined the blockchain will soon be able to transact with multiple stores, e-commerce retailers and a variety of other businesses as OduwaCoin develops new integrations such as its mobile wallet OduwaPay and other alternative solutions for merchants. With the use of this technology, more choices for making purchases using digital wallets will be made available to those who currently do not have access to financial services. Many people in underdeveloped countries lack access to conventional finance and find it difficult to get bank accounts. People in Africa can start benefiting from OduwaCoin and join the digital currency revolution.

Have you given OduwaCoin a look? Create your first wallet to store and use Oduwacoin. Oduwacoin e-Wallet called Oduwapay is available on AppStore and PlayStore.

Conclusion

Oduwacoin is the new cryptocurrency that will change how Africans use and spend money. It’s a safe, fast, affordable and easy way to transact without having to worry about bank fees or exchange rates. With Oduwacoin, people in Africa will be able to participate in the global economy and have access to all the same opportunities as people in other parts of the world. African entrepreneurs will also benefit from oduwacoin because it gives them a way to start businesses and accept payments without having to go through traditional banking channels. This is a big step forward for Africa and we are excited to see how Oduwacoin changes the way people do business on the continent. Thanks to Nana Obudadzie Oduwa I for developing a cryptocurrency with Africa in mind.

What do you think about Oduwacoin?

Public source; documentary Encrypted

Why I created Oduwacoin – Bright Enabulele